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You Do Realise, Don';t You...

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...that's a TRIPPLE TOP achieved - i.e. largely FLAT for 3 years.

What was the famous quote?

"House prices have reached a permanently high plateau"

Oh deary, deary me.

And I'm a perma-bear!

AF

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...that's a TRIPPLE TOP achieved - i.e. largely FLAT for 3 years.

What was the famous quote?

"House prices have reached a permanently high plateau"

Oh deary, deary me.

And I'm a perma-bear!

AF

Nevermind! If I can't afford anywhere, then I will just have to continue saving. I'm sure others on this board

feel the same

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I was just about to say the same thing. Prechter says that you would expect a historic formation at the end of a 75 year bull run.

I certainly can't see why anyone would invest in property now.

It already has triple topped the graph on the frount page needs updating. I predicted we would have a little boom this spring, but its already calming down (by talking to morgage people). People are putting offers in, but they are struggling to get the morgages....

Nationwide.JPG

post-552-1147347717.jpg

Edited by moosetea

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...that's a TRIPPLE TOP achieved - i.e. largely FLAT for 3 years.

..the classic 'head and shoulders' formation could indicate the last puff of money going into the housing market.

down from here

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Yes. But I've written it off as consumption - not an investment. (I bought it because I got it dead cheap, I can grow my own food supply, it has its own water, sewerage, fuel, microscopic council tax (total household bills sixtyish pounds a month) and it's up a mountain a long way from possible urban unrest. Most importantly, I can't be usurped by a landlord during an emergency when "mountain fastnesses" are suddenly in fashion. And it has views worthy of the Sound of Music. B)

That sounds great.

Where is it if you don't mind me asking.

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The UK. I'm not revealing any detailed personal information on the boards, so I can discuss property and finances more freely.

Oh come on Durch you can tell us if its England,Scotland or Wales....that's all we want to know? :rolleyes::lol:

If I'd bought a Property mine would proably be in the Country....prabaly up "Sh1t creek" knowing my luck!

Edited by cupidstunt

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...that's a TRIPPLE TOP achieved - i.e. largely FLAT for 3 years.

What was the famous quote?

"House prices have reached a permanently high plateau"

Oh deary, deary me.

And I'm a perma-bear!

AF

Interesting that you should state that, I was actually thinking we hadn`t had a "it`s all your fault webmaster/Bubb, if I hadn`t listened to you guys 2 years ago I`d be 50k better off and own my own home now..", type post for a while...

However, If prices have gone up by 18% over the past two years, then the average property is now 30ish K more expensive than when most started posting on here...a correction by approx. 20% would put them no worse off than if they`d bought 2 years back..

Therefore "we`ve all been posting ******** for 2 years and wasted a lot of useful time" is an accusation hard to contest in the current market snapshot <_<

Edited by Converted Lurker

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Hard to call the exact top of a bubble, even now. I just know houses are overvalued. Your post implies the forum should be created just as prices begin to plummet. Now is the time to warn people - before the plummet - whilst there might be an exit.

I think if I had a point it may be that the consensus on the forum has been warning of a crash for 2-3 years now, collectively the crash/correction was called way too early. Not aportioning blame, the economics/fundamentals causing the extended boom have belonged in the madhouse for that period at least and the fallout may be greater as a consequence of the sustained HPI growth...

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I was just about to say the same thing. Prechter says that you would expect a historic formation at the end of a 75 year bull run.

I certainly can't see why anyone would invest in property now.

Durch, the term "cash is king" is mentioned as the key to surviving economic deflation in the synopsis of that book, yet I believe you are keen on gold. When people say "cash is king" are they really meaning cash as we think of it (dollar, pound etc) or are they subliminally saying "gold"?

I'm intrigued, as we often hear "cash is king" yet at the same time, "fiat currencies are worthless".

Am I missing something here?

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Prior to the 1930s gold was cash, so the history of all the old fashioned catastrophic banking collapses (the kind where everybody lost their shirt, and politicians looked on unmoved) would have seen cash become king, ie. gold rise. The paper dollars and pounds (the names mean weights of precious metal) were convertible into gold - so they were gold in people's minds and reality.

The Great Depression was headed off as it went towards its lows by the New Deal, and a switch away from gold to partial fiat currency (with limited gold convertibility for international trade). Eventually, in a series of steps the money has been completed debased. Today it is a nearly a joke, and is inflated, lent, printed, hidden, wasted, used and abused in every twisted way possible.

If the government had stuck to gold and no intervention the Great Depression would have been much worse at the bitterest end. Instead, they went for a one-shot deal of putting off the problem. Now of course they are eroding that faith. The same tricks can't be used twice, and we will eventually have the hard end of the Great Depression.

Now because of technology (and everything) being different, it won't be the same. Some people think it might be better. (But some think it might be worse - imagine a bankrupt state, too impoverished to act, but no one willing to lend any more resources to it, with cities in winter deprived of oil and food.)

We think we are separated from Nature. We are not. And I don't think we have escaped the hard lessons of life yet.

Fair points. I don't think I thought it would take this long. Now I think it could take longer yet, with even another "boom" as fiat flies off the presses in a hopeless attempt to avert disaster.

Thanks for the reply. I am familiar with the history of gold backing of currencies and the moves away from that to our current totally unbacked paper. Is this book an old book then?

I'm sure I've heard Buffet saying "cash is king" too. Surely he can't mean dollars as we know them today?

I'm keen on gold myself but am worried about the physical security of physical (i.e. theft) and the political security of the likes of goldmoney (i.e. government theft/taxation/confiscation).

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It already has triple topped the graph on the frount page needs updating. I predicted we would have a little boom this spring, but its already calming down (by talking to morgage people). People are putting offers in, but they are struggling to get the morgages....

"but they are struggling to get the morgages...." Well surprise surprise!!!! Any NORMAL & HONEST mortgage broker asked by potential homebuyer to give him 6, 7, 8, 9, 10, 11, 12 x salary would just say "Er..... No."

and 6,7,8,9,20,11,12 x salary - IS WHAT IS NEEDED TODAY - e.g. : London: "Average price" c.£280-300k: SO, 10 times £30k - which, as far as I know, is well ablove the ACTUAL average income when you strip out the BULLSH*t you read in the media..........

Further - what can you get for under £230k anywhere in the southern half of the UK let alone the rest of the country? If you are just married/wanting to get married & have children - thus need minimum 2 bed place - if not 3 bed -- then - what are you going to get if you earn £30k ????

Multiply that by 3 or 4 -[THE SENSIBLE HONEST MORTGAGE] - and the biggest mortgage your ging to get is £120k........ WHAT DO YOU GET FOR THAT????? NOWT!!!!!!!

WHAT IS WRONG WITH PEOPLE IN THIS COUNTRY????? PLEASE TELL ME......

Edited by eric pebble

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I'm sure I've heard Buffet saying "cash is king" too. Surely he can't mean dollars as we know them today?

There is a saying in business "Turnover is vanity, profit is sanity, but cash is king". Increased turnover without matching profit is a waste of effort and 'vanity' - no good to anyone. Businesses DO need to make profits, but paper profits can be swallowed up in rising stock levels, credit to customers etc. When the $h1t hits the fan it's cash that pays the bills and prevents the firm going bust.

Kiyosaki of Rich Dad fame defines an asset as anything that generates cash and a liability anything that consumes it. Under this definition cars and houses are generally liabilities.

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There is a saying in business "Turnover is vanity, profit is sanity, but cash is king". Increased turnover without matching profit is a waste of effort and 'vanity' - no good to anyone. Businesses DO need to make profits, but paper profits can be swallowed up in rising stock levels, credit to customers etc. When the $h1t hits the fan it's cash that pays the bills and prevents the firm going bust.

Kiyosaki of Rich Dad fame defines an asset as anything that generates cash and a liability anything that consumes it. Under this definition cars and houses are generally liabilities.

I totally agree.

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For anyone reading this and worrying, the Bruno thing has turned out alright. I feel compassion for the guy now. I hope he prospers.

What happened to Bruno?

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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