Old World Order Posted October 3, 2020 Share Posted October 3, 2020 Listen up sugar daddies, the government are going to prop house prices up regardless. No, it won't lead to a currency crisis because the UK is in the top elite club of countries that is led by the US on a financial front. Hyperinflation can't and won't happen when you're a member of the club as all member countries have agreed to prop each other up. This allows low to negative interest rates and QE without consequences. Although a no deal Brexit is likely, make no mistake, the leaders of the EU member countries, the UK government, the EU and the US, are all best pals, and they all bat for the same side. Politely disagree with what you are saying here. If you could substantiate why there will not be a currency crisis by giving a little more than a hypothesis.A list of fiat currencies that have ever survived or even one as to my knowledge no fiat currency has ever survived of thousands over thousands of years. i would however agree that a large number of governments are working together, they are well aware the currency is close to the end in preparation for the greatest transfer of wealth in history from the many to the few. It should not go unnoticed that JP Morgan were just prosecuted again for precious metals manipulation. A necessary operation to manipulate the public perception of its true value in comparison to fiat which will ultimately revert along with every other fiat throughout history of 0 no exceptions. Just when ? Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 3, 2020 Author Share Posted October 3, 2020 Is UK Average weekly earnings on your graph taking into account both parters in a couple working full time? Surely this wasn't the case way back in the 60/70s like it is today? Neither was it taking into account that people don't enter the full time work force until their twenties now Quote Link to comment Share on other sites More sharing options...
Martin_JD Posted October 3, 2020 Share Posted October 3, 2020 Neither was it taking into account that people don't enter the full time work force until their twenties now I'm not sure how much difference that makes in comparison to the fact that you now have two wage earners per house hold, so double the earning power/double the mortgage repayment/double the house price.....I think this is a big factor in why house prices have accelerated over the last 30 years. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 3, 2020 Author Share Posted October 3, 2020 I'm not sure how much difference that makes in comparison to the fact that you now have two wage earners per house hold, so double the earning power/double the mortgage repayment/double the house price.....I think this is a big factor in why house prices have accelerated over the last 30 years. If you say so. Whatever you say is obviously correct. Quote Link to comment Share on other sites More sharing options...
newgi Posted October 3, 2020 Share Posted October 3, 2020 I'm not sure how much difference that makes in comparison to the fact that you now have two wage earners per house hold, so double the earning power/double the mortgage repayment/double the house price.....I think this is a big factor in why house prices have accelerated over the last 30 years. Its difficult to disagree with this point. Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted October 3, 2020 Share Posted October 3, 2020 Listen up sugar daddies, the government are going to prop house prices up regardless. No, it won't lead to a currency crisis because the UK is in the top elite club of countries that is led by the US on a financial front. Hyperinflation can't and won't happen when you're a member of the club as all member countries have agreed to prop each other up. This allows low to negative interest rates and QE without consequences. Although a no deal Brexit is likely, make no mistake, the leaders of the EU member countries, the UK government, the EU and the US, are all best pals, and they all bat for the same side. Good to have you all back. Why are we "Sugar Daddies"? Do you understand the term? As for the various claims of collusion, do you have any proof or are you just floating these ideas to get a reaction? You missed out Russia and China which are quite important nations especially when you consider the size of the Chinese economy and the potency of the Russian military. Also I believe Germany is quite dependent upon Russia for energy. What about Japan, Iran, Saudi Arabia and Turkey? Are they all in on this as well? What about the anglophone commonwealth? They have quite significantly sized economies as well. As for US leadership/hedgemony...ehmmm well I agree they are in a position of leadership at the moment (in more areas than finance), but quite how long that will last is very much in question even into the mid term future. Quote Link to comment Share on other sites More sharing options...
Martin_JD Posted October 3, 2020 Share Posted October 3, 2020 If you say so. Whatever you say is obviously correct. OK, Thanks. Quote Link to comment Share on other sites More sharing options...
winkie Posted October 3, 2020 Share Posted October 3, 2020 <snip> Tories will weaken mortgage lender tests to help more young borrowers buy first home. Boris Johnson's party has also outlined plans to boost the number of long-term mortgage deals. The Tories plan to enlist institutional investors, such as pension funds, to offer these long-term loans, rather than traditional banks. It wants to see these mortgages offered to borrowers with 5pc deposits, calling the current market “restrictive and expensive”. So another way of obtaining debt from new lenders/investors.........halfway between actually realistically buying and owning and renting? Quote Link to comment Share on other sites More sharing options...
Old World Order Posted October 3, 2020 Share Posted October 3, 2020 So another way of obtaining debt from new lenders/investors.........halfway between actually realistically buying and owning and renting? Exactly. Lambs to the slaughter. Its bloody disgusting. Tried and tested. These Bar Stewards need to be held to account for what they are doing. These young people (not exclusively) are just trying to make the best life they can for them and their families. Not realising or having the knowledge the entire game is rigged. Very sad. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 3, 2020 Author Share Posted October 3, 2020 OK, Thanks. Thought you'd say that. Quote Link to comment Share on other sites More sharing options...
Hullabaloo82 Posted October 3, 2020 Share Posted October 3, 2020 Am I missing something here? Surely you also have to relax income multiples rules too for this to have upward pressure on the market? Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 3, 2020 Author Share Posted October 3, 2020 Am I missing something here? Surely you also have to relax income multiples rules too for this to have upward pressure on the market? Yeah looks like they hope to relax macro prudential rules too Quote Link to comment Share on other sites More sharing options...
Young Turk Posted October 3, 2020 Share Posted October 3, 2020 Am I missing something here? Surely you also have to relax income multiples rules too for this to have upward pressure on the market? There will always be some people with a high income and a small deposit and others with low income and a big deposit. Quote Link to comment Share on other sites More sharing options...
Voice of Doom Posted October 3, 2020 Share Posted October 3, 2020 Hold on. There are a few things to remember here: 1. Johnson saying something to the Telegraph isn’t the same as that thing happening. 2. 95% mortgages were available until a few months ago, this just puts us back to where we were then, but this time with massive unemployment and job insecurity. 3. Young people and potential FTBers are going to be the most affected by this recession, they are going to be worrying about how to pay their rent next month, not how to buy a house at 95% LTV. Of course the government will do everything they can to keep house prices high, but this is the first time astronomical house prices have come into contact with high unemployment, it’s still popcorn time IMO. I understand why some are anxious on this thread. Just when it seemed a big correction is on the horizon along comes another prop. However, I think @bear goggles is on the money with the above. Also, there's the politics. The parliamentary party are increasingly unhappy with Johnson so he needs something "positive" to trumpet at the virtual Tory conference. It will allow him to sound pro-aspiration and pro-active. It hasn't happened, it might not happen and - even if it does - how much difference will it honestly make? Quote Link to comment Share on other sites More sharing options...
Martin_JD Posted October 3, 2020 Share Posted October 3, 2020 There will always be some people with a high income and a small deposit and others with low income and a big deposit. That's the point - Many will still be bound by the income multiple. Quote Link to comment Share on other sites More sharing options...
byron78 Posted October 4, 2020 Share Posted October 4, 2020 God. I will hit 70 years a Tory Party member during this government's term, and I remember telling a lot of you fellow Tory types exactly what sort of shower this lot would be. It's actually even worse than I expected! How the general public have been duped into voting the elite back into a position of power so absolute they can grab back many of the crumbs you've been tossed this past century is remarkable. I knew proles were stupid. But... crumbs! Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted October 4, 2020 Share Posted October 4, 2020 God. I will hit 70 years a Tory Party member during this government's term, and I remember telling a lot of you fellow Tory types exactly what sort of shower this lot would be. It's actually even worse than I expected! How the general public have been duped into voting the elite back into a position of power so absolute they can grab back many of the crumbs you've been tossed this past century is remarkable. I knew proles were stupid. But... crumbs! it was BREXIT, this lot are a one trick pony Quote Link to comment Share on other sites More sharing options...
simon2 Posted October 4, 2020 Share Posted October 4, 2020 One thing is that the punitive measures won't be headlines but might try to be slipped in without anyone noticing. So something like CGT on house gainz could neutralise it. Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted October 4, 2020 Share Posted October 4, 2020 (edited) It's actually even worse than I expected! How the general public have been duped into voting the elite back into a position of power so absolute they can grab back many of the crumbs you've been tossed this past century is remarkable. I knew proles were stupid. But... crumbs! So what are people going to do then - vote labour ?? the same labour party who kicked off the house price boom and stoked it for 15 years by deregulating buy to let lending, the labour party who first sanctioned QE to prop up asset prices for the wealthy, the labour party who presided over the slashing of interest rates to bail out home owners etc etc etc. I can vote Labour and have high house prices AND even more crushing levels of taxation ! great, when do we start. Edited October 4, 2020 by goldbug9999 Quote Link to comment Share on other sites More sharing options...
richmondtw Posted October 4, 2020 Share Posted October 4, 2020 Wonder how (if?) Labour will respond... As Tory has a 80 seat majority what the great working class hero Starmer says is irrelevant Quote Link to comment Share on other sites More sharing options...
longgone Posted October 4, 2020 Share Posted October 4, 2020 God. I will hit 70 years a Tory Party member during this government's term, and I remember telling a lot of you fellow Tory types exactly what sort of shower this lot would be. It's actually even worse than I expected! How the general public have been duped into voting the elite back into a position of power so absolute they can grab back many of the crumbs you've been tossed this past century is remarkable. I knew proles were stupid. But... crumbs! Are they bringing back the workhouses and kids with rickets to clean the chimneys? Quote Link to comment Share on other sites More sharing options...
richmondtw Posted October 4, 2020 Share Posted October 4, 2020 So what are people going to do then - vote labour ?? the same labour party who kicked off the house price boom and stoked it for 15 years by deregulating buy to let lending, the labour party who first sanctioned QE to prop up asset prices for the wealthy, the labour party who presided over the slashing of interest rates to bail out home owners etc etc etc. And supported FOM and mass uncontrolled immigration and still does which of course has no effect on supply and demand LOL it was BREXIT, this lot are a one trick pony No it was also Corbyn - his anti Semitic party - his support for muslim terror groups and the IRA his idea that anyone who earns a good salary should be hugely taxed - his idea of taking 10% of a private individuals company - the fact that he said everything can be free -m the insanity of having an ignorant racist woman who cannot do simple maths or even put her shoes on the right feet as home secretary and his socialist policies The only time Labour won since Wilson was when Blair ditched socialism. Quote Link to comment Share on other sites More sharing options...
richmondtw Posted October 4, 2020 Share Posted October 4, 2020 hey will tend tp opt for what is best for the Tory party short to medium term (i.e. what will get them elected again). Tell me one party that has never done that then Quote Link to comment Share on other sites More sharing options...
hotblack42 Posted October 4, 2020 Share Posted October 4, 2020 We are both tenants and accidental landlords to expedite a move to the coast. We are good landlords, good tenants & we have good tenants with 4 kids. Ethics aside, if this prop means a spring bounce followed by a sharp correction, wouldn't the rational response be to turf a family of 6 out & sell our current property for 95% of the going rate while the goings good? Genuine question. Its a big ask for us to watch a £350k house deflate in real terms over the next decade & allow the hefty SDLC refund we'd be due, on the Bungalow we're about to exchange on, lapse. What would you do? Be honest. Quote Link to comment Share on other sites More sharing options...
Chunketh Posted October 4, 2020 Share Posted October 4, 2020 This idea / policy is outrageous. End of story. Quote Link to comment Share on other sites More sharing options...
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