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I Told You So

The UK A Laughing Stock

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Are we the laughing stock of the rest of the world?

They can all see we are hugely indebted and that world inflation and interest rates are rising. Are they sniggering down the pub "those Brits can't they see whats coming".

Its embarrassing, the people in this country are so poorly educated we've only got ourselves to blame.

If another BTL owning journo comes up with another 'IR may only rise .25%/soft landing/inflation under control/its different this time' pile of nonsense they should be hunted down like a rabied dog and put out of their misery.

HPC, you know its going to happen the minute rates go up, and you know thay wont stop at 5.0%.

Its as plain as the nose on your face.

Rant over

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2/3 off credit card debt in europe belongs to the brits.

Yes we are the laughing stock but this will help ensure more houses will be sold at rock bottom prices when it hit's the fan

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True.

But why do so many still invest in the UK? Why hasn't sterling tanked yet?

I'm sure if rates don't go up by year end sterling will be under a lot of pressure.

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Its embarrassing, the people in this country are so poorly educated we've only got ourselves to blame. :blink:

HPC, you know its going to happen the minute rates go up, and you know thay wont stop at 5.0%. :rolleyes:

Its as plain as the nose on your face.

Totally in agreement, even the very well educated i know are blind to the real facts, all they see is paper wealth built up in their own little property empires, just watch them crumble along with The Fat Dictators miracle economy B)

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Well I am willing to do something a bit more positive than sitting and waiting this thing out. Here goes ....

Let us pray ...

Dear Lord, please look kindly on us poor sinners who are priced out out of the property market. We ask you, oh Lord, to smote the BTL landlord who is a scourge and a pestilence upon this earth. He takes property that is rightfully ours and forces us to rent it from him and we are like helpless lambs before his power. So we turn to you our Lord and protector, to ask that you, on our behalf, right these wrongs. I believe if we wait long enough a terrible curse and Day of Reckoning may be visited it upon all, including us, in the form of a massive recession when, across the land, there will be a wailing and gnashing of teeth, accompanied by widespread unemployment and re-possessions. But, how can we own what is truly the Lords to give?

Now, I think we need a bit of a concerted effort here - to complement the highly effective passive resistance technique of refusing to buy a property in this overheated market.

So I am going to suggest a proper prayer meeting here tonight at 9.00 pm.

I will be here then and I'll lead and each of you can make the appropriate responses. (I'll hand out a prayer sheet first so you know what to say when prompted.)

God bless all here.

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Let us pray ...

Dear Lord, please look kindly on us poor sinners who are priced out out of the property market. We ask you, oh Lord, to smote the BTL landlord who is a scourge and a pestilence upon this earth. He takes property that is rightfully ours and forces us to rent it from him and we are like helpless lambs before his power. So we turn to you our Lord and protector, to ask that you, on our behalf, right these wrongs. I believe if we wait long enough a terrible curse and Day of Reckoning may be visited it upon all, including us, in the form of a massive recession when, across the land, there will be a wailing and gnashing of teeth, accompanied by widespread unemployment and re-possessions. But, how can we own what is truly the Lords to give?

I think we are now at the last resort, this is all that is left, to pray, yes to pray that the Fat Dictator see's the light, and returns to the Northern Kingdom which created him. So he shall spread his evil on the folk who worship him, and leave the good people of the southern kingdom to thrive on his departure, thank you lord, may you grant this wish, and let us live in peace and prosperity. :lol:

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Are we the laughing stock of the rest of the world?

They can all see we are hugely indebted and that world inflation and interest rates are rising. Are they sniggering down the pub "those Brits can't they see whats coming".

Its embarrassing, the people in this country are so poorly educated we've only got ourselves to blame.

If another BTL owning journo comes up with another 'IR may only rise .25%/soft landing/inflation under control/its different this time' pile of nonsense they should be hunted down like a rabied dog and put out of their misery.

HPC, you know its going to happen the minute rates go up, and you know thay wont stop at 5.0%.

Its as plain as the nose on your face.

Rant over

what, that we think ourselves richer as we embrace levels of debt that would leave Evel Kennevel shaking at the very thought..

People remortgage their homes to buy a car and sneer at me that they are becoming very rich as their house goes up in value...

They can't understand why I sometimes question this..

stupidity to that level is a whole new level..

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Are we the laughing stock of the rest of the world?

They can all see we are hugely indebted and that world inflation and interest rates are rising. Are they sniggering down the pub "those Brits can't they see whats coming".

Its embarrassing, the people in this country are so poorly educated we've only got ourselves to blame.

If another BTL owning journo comes up with another 'IR may only rise .25%/soft landing/inflation under control/its different this time' pile of nonsense they should be hunted down like a rabied dog and put out of their misery.

HPC, you know its going to happen the minute rates go up, and you know thay wont stop at 5.0%.

Its as plain as the nose on your face.

Rant over

ITYS What happened to this wonderful 'prediction' of yours from Dec 2004?

Next move for base rate down!

Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhh you bullish losers what you saying now.

My prediction 5.25% by May, property market in free fall.

SUPPLY AND DEMAND

You 'told us so' in 2004 but it clearly didn't happen... (rates actually went DOWN in Aug2005)

Edited by Without_a_Paddle

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Yes we are the laughing stock but this will help ensure more houses will be sold at rock bottom prices when it hit's the fan

I've been saying this.

The housing market seems to have been bought in three waves...

1: By people who could afford it by borrowing sensible multiples.

Then

2: By people who could only afford it by borrowing irresponsible multiples.

Then

3: By people who could only afford it by borrowing irresponsible multiples and getting parents to guarantee it.

Next

The fourth wave seems to be starting now as lenders find increasingly convoluted ways to get people into the system.

There will come a point when the only people left outside are those who can't afford to buy whatever the lenders come up with along with a few sensible people who could have overstretched themselves but didn't because they could see beyond the spin on the Krustie and Spender show.

When IRs go up and those who were sailing too close to the wind from the word go come unstuck prices will start falling... and they will fall all the way to the point where the poor and sensible can afford to buy, because they'll be the only ones left with any money.

Every time I hear that pries have gone up some more, and that lending has increased, etc. it makes me feel good, 'cause I know what it'll all lead to in the end.

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Well I am willing to do something a bit more positive than sitting and waiting this thing out. Here goes ....

Let us pray ...

Dear Lord, please look kindly on us poor sinners who are priced out out of the property market. We ask you, oh Lord, to smote the BTL landlord who is a scourge and a pestilence upon this earth. He takes property that is rightfully ours and forces us to rent it from him and we are like helpless lambs before his power. So we turn to you our Lord and protector, to ask that you, on our behalf, right these wrongs. I believe if we wait long enough a terrible curse and Day of Reckoning may be visited it upon all, including us, in the form of a massive recession when, across the land, there will be a wailing and gnashing of teeth, accompanied by widespread unemployment and re-possessions. But, how can we own what is truly the Lords to give?

Now, I think we need a bit of a concerted effort here - to complement the highly effective passive resistance technique of refusing to buy a property in this overheated market.

So I am going to suggest a proper prayer meeting here tonight at 9.00 pm.

I will be here then and I'll lead and each of you can make the appropriate responses. (I'll hand out a prayer sheet first so you know what to say when prompted.)

God bless all here.

The Prophet Amos had a thing against the rich buying large houses at the expense of the poor:

http://home.clara.net/arlev/amos06.htm

The cows of Bashan

Amos 4:1

But, again, the point seems to be missed that it isn’t because the cows of Bashan are fat that they now rebel but that they’ve rebelled against God and so have become fat (bulk doesn’t determine the size of the rebellion or make it inevitable).
Their mansions are built over the skeletons of the needy who have had their bread stolen from them
- they haven’t obtained their mansions and then decided to rebel.

:)

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The Prophet Amos had a thing against the rich buying large houses at the expense of the poor:

The problem in this country isn't the rich buying big houses at the expense of the poor, it's the rich buying small houses at the expense of the poor. The poor can't afford big houses anyway, so there's no harm in the rich buying big houses. But this time the rich have bought up all the starter homes deliberately to starve the market of the most affordable housing. This achieves two things...

1: The poor are forced to rent (thus paying the rich's mortgages for them) 'cause there's a shortage of affordable homes to buy.

2: The rich's portfolios soar in value because the shortage of starter homes leads to much greater demand than supply. The rich then borrow on the equity to buy even more and the effect snowballs.

So basically poor people are buying equity for rich people.

Of course, housing then ceases to be homes and becomes stock. Traders and investors aren't sentimental about stock and they'll drop it like a lead balloon the minute it starts to lose value. They probably even have prices in their head as a 'stop loss' at which they'll [attempt to] sell.

At then end of the day market forces are like the tides of the ocean – You can't influence them. We might have missed the boat but the tide will turn and the boat won't be able to sail against it for very long and will be brought back sooner or later.

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You can try many convoluted ways to rationalise this, but this house price horror and new landlord elite, savings destroyed, lives destroyed, it would not be possible without massive immigration.

The UK is experiancing most massive immigration in history.

It really is that simple, and why you lot have been so wrong, so long.

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You can try many convoluted ways to rationalise this, but this house price horror and new landlord elite, savings destroyed, lives destroyed, it would not be possible without massive immigration.

The UK is experiancing most massive immigration in history.

It really is that simple, and why you lot have been so wrong, so long.

Yeah but, no but

Without immigration how could Gordon keep wages low and inflation below 2%? Without lots of foreign workers to compete with the indigenous population we who are here would start to ask for higher wages which would upset the Miracle Economy of perpetual growth through borrowing. The engine of growth, HPI, must be fuelled by something. Demand is key so you allow hundreds of thousands of immigrants into the coutry to make the housing shortage worse thus keeping prices bouyant as the EAs like to say. If HPI looks like it is under threat you just add another Eastern European Country to the EU and import their workers to live in the diminishing number of houses.

Now that Tony has decided that we are a "multi-cultural" country now rather than British with the unique flavours of "Welsh" "Scots" and "English." There is no longer any fear of our culture remaining bogged down but rather transformed into a bohemiam hodge podge with unique rather than united or cohesive values and aspirations. We will be able to experience a huge variety of languages and unique television programming catering for all cultural demands. All policed by "political correctness" where the old order is swept away and the new values of openness to whatever is swept in.

It is a bold new plan and it is at the very heart of NuLabour. After all, they have been swept into power 3 times and we are a democracy and majority rule, right? Right? :blink:

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paddle and brainclamp

yes i called it to early, so what, ive been renting cheap as chips and prices havent really done much in my area since 2003 i'm happy as a pig in shit

its coming, you know, we all do, maybe this year maybe next or even the year after that so what i can wait

seen it all before and will be seeing it all again

its called a cycle

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I think we are now at the last resort, this is all that is left, to pray, yes to pray that the Fat Dictator see's the light, and returns to the Northern Kingdom which created him. So he shall spread his evil on the folk who worship him, and leave the good people of the southern kingdom to thrive on his departure, thank you lord, may you grant this wish, and let us live in peace and prosperity. :lol:

That's good, I'll incorporate that bit.

It's going to be a bit like the Credo ... for any of you with a decent upbringing.

The Prophet Amos had a thing against the rich buying large houses at the expense of the poor:

http://home.clara.net/arlev/amos06.htm

The cows of Bashan

Amos 4:1

But, again, the point seems to be missed that it isn’t because the cows of Bashan are fat that they now rebel but that they’ve rebelled against God and so have become fat (bulk doesn’t determine the size of the rebellion or make it inevitable).
Their mansions are built over the skeletons of the needy who have had their bread stolen from them
- they haven’t obtained their mansions and then decided to rebel.

:)

Don't worry, in my new prayer there will be a special corner in hell reserved for BTL investors.

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paddle and brainclamp

yes i called it to early, so what, ive been renting cheap as chips and prices havent really done much in my area since 2003 i'm happy as a pig in shit

its coming, you know, we all do, maybe this year maybe next or even the year after that so what i can wait

seen it all before and will be seeing it all again

its called a cycle

Its not the rich buying up property.. It was the FTB then they were priced our (apart from the highly paid or debt crazy maniacs) then it was the BTL looking to invest, then the BTL looking to flip… and as the BTL flipped and flipped again the market was one purely of speculation… and as we all know, the only trick to a speculative market is not to be still speculating when the music stops.

Now the market is made up of

1: People who think that this is the only way they will ever own their home, although they cannot afford their debt.

2: Those who can afford it.

3: And patsies 20% a year made money, with it falling in as many places as it is rising, where do you think the real investors are? They are spending the money that they made selling the properties to the current owners.

To quote Warren-Buffett

1: If, after half an hour, you haven't figured out who the patsy is, then you're the patsy.

2: A pin lies in wait for every bubble and when the two eventually meet, a new wave of investors learns some very old lessons.

3: Occasional outbreaks of those two super-contagious diseases, fear and greed, will forever occur in the investment community. The timing of these epidemics is equally unpredictable, both as to duration and degree. Therefore we never try to anticipate the arrival or departure of either. We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

And most importantly, if you are looking to invest on the back of advice from mortgage lenders

4: Never ask the barber if you need a haircut.

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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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