Deckard Posted June 26, 2020 Share Posted June 26, 2020 "He's just a poor troll, he needs no sympathy Because he's easy come, easy go A little high, little low Anyway the wind blows Doesn't really matter to Speed" Quote Link to comment Share on other sites More sharing options...
longgone Posted June 26, 2020 Share Posted June 26, 2020 9 hours ago, winkie said: Your business is your livelyhood, your future.....your house is your ability to obtain shelter for self and family.......lenders are more willing to lend against bricks than against people with good ideas and future prospects. I think their LTV figures tell their appetite ATM towards house loans. Agreed though less interest in potential business Interests And more of snatchable housing. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 26, 2020 Share Posted June 26, 2020 2 hours ago, Switch625 said: Please tell me with in excess of 6 million people currently on furlough and that with 80% coverage for their pay for up to £2,500 per month covered by the tax payer due to end in August There are over NINE MILLIONS furloughed. E’ers start paying 1August... Quote Link to comment Share on other sites More sharing options...
Switch625 Posted June 27, 2020 Share Posted June 27, 2020 Apologies Killer B, you are quite right, I forgot the 3 million self-employed, who will also have absolutely no problem finding gainful self employment. In the great utopia that will be the UK's post COVID-19 economy, it is simply inconceivable that all these people won't be able to continue paying their mortgages. Yep, steady as she goes, UK house prices clearly going up, up and away! Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 27, 2020 Share Posted June 27, 2020 3 hours ago, Switch625 said: Apologies Killer B, you are quite right, I forgot the 3 million self-employed, who will also have absolutely no problem finding gainful self employment. In the great utopia that will be the UK's post COVID-19 economy, it is simply inconceivable that all these people won't be able to continue paying their mortgages. Yep, steady as she goes, UK house prices clearly going up, up and away! Think about it. Everyone needs a house, the modern economy is housing, they're not building any more land, the govt want it is just the way it is sorry, and savings rates are terrible so buy a house or your a fool and you'll looks stupid. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 27, 2020 Share Posted June 27, 2020 12 hours ago, Deckard said: Quite a few trolls and faux bears getting vocal on the boards these days, tells you all you need to know... Looks that way to me. To be fair to them, they were right in 2008 that the government would do anything to stop house prices collapsing...including destroying the country. Careful what you wish for, Quote Link to comment Share on other sites More sharing options...
Ah-so Posted June 27, 2020 Share Posted June 27, 2020 2 minutes ago, TheCountOfNowhere said: Looks that way to me. To be fair to them, they were right in 2008 that the government would do anything to stop house prices collapsing...including destroying the country. Careful what you wish for, True. But from an economic perspective, the impact is far greater from this crisis. Unemployment will soar and GDP plunge far more than 2008. We have just experiences a QoQ GDP fall of 20%. The pact is staggering. The government and BoE will take action to prop up the market, but there are only so many tools in the tool box. The interest rate lever has been nearly fully used. That only leaves QE. Printing money only takes you so far. Quote Link to comment Share on other sites More sharing options...
Bugger BTL Posted June 27, 2020 Share Posted June 27, 2020 Yes. The will is still clearly there in the same way, because the Tories know they need the votes of the homeowning classes and the priced out generally don't go for them anyway. But the range of devices available to achieve this is not. I believe they'll want to, I feel much less confident that they'll succeed. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 27, 2020 Share Posted June 27, 2020 1 hour ago, Ah-so said: The interest rate lever has been nearly fully used. That only leaves QE. Printing money only takes you so far. What does QE have to do with HPs? Quote Link to comment Share on other sites More sharing options...
Ah-so Posted June 27, 2020 Share Posted June 27, 2020 1 hour ago, Killer Bunny said: What does QE have to do with HPs? QE pushed down prevailing interest rates and means that there is a lot of cash floating around the economy that could potentially be lent out into bond-like assets, like mortgages. The more widely available mortgages are the more likely house prices are to rise. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 27, 2020 Share Posted June 27, 2020 Rates CAN GO NO LOWER effectively. 0.1% to -0.5% is a big fat nothing. Or 10 year from 0.17% to -0.3%... So what? I ask again differently - why do HPCers keep banging on about an irrelevance to HPs? The banks will only lend when they see HPI or are forced to by c bank/govt. Quote Link to comment Share on other sites More sharing options...
Dreamcasting Posted June 27, 2020 Share Posted June 27, 2020 Make no mistake, a massive HPC will also mean a crash in what your savings are worth. Those only holding cash will unfortunately end up the loser, whilst Chad down the road who had a large mortgage will effectively have been given a free house. You have been warned. Don't make the same mistake you made in 2008. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 27, 2020 Share Posted June 27, 2020 (edited) 1 minute ago, Dreamcasting said: Make no mistake, a massive HPC will also mean a crash in what your savings are worth. Those only holding cash will unfortunately end up the loser, whilst Chad down the road who had a large mortgage will effectively have been given a free house. You have been warned. Don't make the same mistake you made in 2008. Eh? ? Edited June 27, 2020 by Killer Bunny Quote Link to comment Share on other sites More sharing options...
Dreamcasting Posted June 27, 2020 Share Posted June 27, 2020 1 minute ago, Killer Bunny said: Eh? Apply some thinking outside the box. You'll get it. Your savings reduce to 0. Chad's mortgage that is also denominated by the same fiat measure is also reduced to 0. Quote Link to comment Share on other sites More sharing options...
Dreamcasting Posted June 27, 2020 Share Posted June 27, 2020 And what I posted above is what a financial "reset" will look like. Quote Link to comment Share on other sites More sharing options...
Speed1987 Posted June 27, 2020 Share Posted June 27, 2020 23 minutes ago, Dreamcasting said: Make no mistake, a massive HPC will also mean a crash in what your savings are worth. Those only holding cash will unfortunately end up the loser, whilst Chad down the road who had a large mortgage will effectively have been given a free house. You have been warned. Don't make the same mistake you made in 2008. I agree ??????. Quote Link to comment Share on other sites More sharing options...
longgone Posted June 27, 2020 Share Posted June 27, 2020 They are welcome to steal it. gives a reason to fire bomb important things. Quote Link to comment Share on other sites More sharing options...
Speed1987 Posted June 27, 2020 Share Posted June 27, 2020 (edited) Those with the most amount of debt, who can service it through this storm, in the end will most likely be the biggest winners. That's what I'm betting on. Edited June 27, 2020 by Speed1987 Quote Link to comment Share on other sites More sharing options...
longgone Posted June 27, 2020 Share Posted June 27, 2020 so when are salaries tripling next year ? Quote Link to comment Share on other sites More sharing options...
Dreamcasting Posted June 27, 2020 Share Posted June 27, 2020 Governments despise people with savings or anyone who is not in debt. They already applied step 1 starting with interest rates at near 0%. Step 2 is mass devaluing of the currency. The cocky over-leveraged will win this round too. Quote Link to comment Share on other sites More sharing options...
winkie Posted June 27, 2020 Share Posted June 27, 2020 5 hours ago, Ah-so said: True. But from an economic perspective, the impact is far greater from this crisis. Unemployment will soar and GDP plunge far more than 2008. We have just experiences a QoQ GDP fall of 20%. The pact is staggering. The government and BoE will take action to prop up the market, but there are only so many tools in the tool box. The interest rate lever has been nearly fully used. That only leaves QE. Printing money only takes you so far. Positive rates yes.....negative interest will be the beginning of the end, stealing the hard earned money worked for in the past from savers, a total loss in faith and confidence in the currency......QE, do people realise their wages are being paid with debt?........we need great and good business to turn the borrowed debt into positive growth.....where will the growth come from? Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 27, 2020 Share Posted June 27, 2020 50 minutes ago, Dreamcasting said: Apply some thinking outside the box. You'll get it. Your savings reduce to 0. Chad's mortgage that is also denominated by the same fiat measure is also reduced to 0. You think you’re so smart. NO WAY mortgages will go to 0%. Banks are making practically nothing already. Whatever rates are, mortgages will be higher. Apply some thinking outside the box. Quote Link to comment Share on other sites More sharing options...
Deckard Posted June 27, 2020 Share Posted June 27, 2020 (edited) 1 hour ago, Dreamcasting said: Governments despise people with savings or anyone who is not in debt. They already applied step 1 starting with interest rates at near 0%. Step 2 is mass devaluing of the currency. The cocky over-leveraged will win this round too. You are confused, mate. What are your hyperinflation fears based upon, exactly? What's the theory behind them ? You are not a goldbug, you said so yourself. You're not predicating a return to the gold standard, but you keep ranting against fiat. What currency is it you expect to go to zero: just the pound or indeed any other fiat currency on the planet? Do enlighten us, o mighty thinker outside the box Edited June 27, 2020 by Deckard Quote Link to comment Share on other sites More sharing options...
Deckard Posted June 27, 2020 Share Posted June 27, 2020 1 hour ago, Speed1987 said: Those with the most amount of debt, who can service it through this storm, in the end will most likely be the biggest winners. That's what I'm betting on. "Debt is wealth" Sure, it's different this time. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 27, 2020 Share Posted June 27, 2020 (edited) 25 minutes ago, Deckard said: What are your hyperinflation fears based upon, exactly? What's the theory behind them ? You are not a goldbug, you said so yourself. You're not predicating a return to the gold standard, but you keep ranting against fiat. What currency is it you expect to go to zero: just the pound or indeed any other fiat currency on the planet? I’ll take this one. Not Hyper but SuperInflation by end of decade. Inflation is highly likely / almost certainly coming due to Printing for govt spending Supply destruction all over the show Soaring crude Deglobalisation And falling Sterling Vs most major currencies. Edited June 27, 2020 by Killer Bunny Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.