Moneylenders Are The Key To Hpi:

[eric pebble]

I maintain the line I have held for over 3 years now: The "Housing Market" is just a giant Pyramid Selling Scam.

And the major factor in the House Price Inflation [HPI] has been the torrent of easy credit - willingly handed over by the Moneylenders - no questions asked - - and in reality all based on LIES; The Lie-to-Buy scam is still to come home to roost. http://news.bbc.co.uk/1/hi/business/3222053.stm

The MONEYLENDERS have cooked up this vast HPI for over a decade - Knowing that the more they lend the more they make - they make more money with their loans the bigger they are, AND they make more with their Property "Portfolios" which they have feathered their nests with on the side with all their various friends - the Vested Interests - and all of them have created vast "Property Portfolios" for themselves - they all have a large finger in the pie accross the board - ; THEY are: -

the Moneylenders,

the Estate Agents,

the "Developers",

"Investors",

The PR cabal in government and beyond - ["Public Relations" - ha ha!!!]

ALL of these parties' just keep churning the message and "Good News" that "House Prices have gone up xx%" - ....

IT'S THE PR CABAL WHO WRITE the newspaper & media articles!!!!!! and THEY determine the content of the TV programmes/"News" items - etc etc. ...ALL OF THEM hiking up "property" as if it's the new religion. They are basically all playing the same game in tandem/in a co-ordinated way - with the same goal of ramping up "prices" - (when quite often this is a lie!) - hence the staggering number of "Good" PR accross all the media, - tv programmes, "articles" in the newspapers/supplements/magaznes - bla bla bla - THEY ARE ALL DOING ONE THING: TALKING IT UP.

AND what people seem not to have realised is that the KEY FACTOR is that the MONEYLENDERS - Mortgage Co's, Banks, etc., BTL Lenders etc etc. - have SET THE "MARKET" PRICE of houses, and will continue to do so.

THEY LEND THE BUYER THE SUM OF MONEY "required" with "no questions asked" - AND THUS THIS AMOUNT LENT BECOMES THE "PRICE" OF HOUSING!!!! It's that simple!!!

These Moneylenders have no scruples about lending ever increasing multiples of salaries, SO THAT BUYERS CAN "PAY"!! - AND SO - THE PRICE IS [say] £200k for a 1 roomed flat above the chinese!!!

The MONEYLENDERS lend £200k - AND SO THAT becomes the market "price" - irrespective of whether it's a dump!! It's simple for them: They take the money and RUN!!!! AND - If the borrower defaults - they - the moneylenders - simply repossess the property AND SELL IT FOR THE PRICE THEY HAVE FIXED IN THE "MARKET" THEY HAVE CREATED AT THE PRICE THEY HAVE ACTUALLY SET!!!

By doing this - constantly ratchetting the "Price" ever upwards - they are effectively pushing the average person further and further into the corner, putting a knife to their throat, and "saying pay up or else".

But they say to themsleves - who cares!! "This just makes US- the VI's - richer!!"

In the meantime, PEOPLE NEED TO HAVE A ROOF over their head: The Moneylenders know this and blackmail borrowers into borrowing ridiculous sums that bear no relation to reality.

This has to be the biggest pyramid selling scam of all time!!!!. Moneylenders have FAR too much control over a fundamental factor of normal life - the matter of everyone needing somewhere to live. This is an absolutely APPALLING situation - and I think nothing is going to get better unless and until the Moneylenders are reigned in, rent controls are put back in place, and, as in so many far less important sectors of life - there is REGULATION and a REGULATORY BODY IS SET UP with STINGING POWERS - and put a stop to the obvious wicked exploitation going on right now.

There is no better description of the "Housing Market" now as a Price-Fixed Monopoly. It is so clear now - the price of property has been DETERMINED by the lenders.

Housing is the average persons biggest item of expenditure by far - and it is subject to no controls whatsoever.

Hence - it is pure BLACKMAIL out there - there is no proper regulation and fair balance in the bargaining positions of "Buyers" and Borrowers in comparison to Sellers and the Moneylenders.

This is the biggest factor lying behind the vast increase in the cost of a roof over your head over the last decade. The Moneylenders have effectively been allowed to print money on the back of ordinary peoples' lives being SEVERELY affected for the worse. Couples are forced to work 24/7 irrespective of whether they need a break to have children - just to pay off these moneylenders.

Immigration, lack of new building, single housesholds... etc. - These factors contribute hugely of course - don't kid yourselves the VI's are quite happy for immigration to just keep on going - I'll bet you anything they pull levers behind the scenes to KEEP the LOBBY MACHINE/"PR" going - make sure all policy keeps property prices at their peak no matter WHAT the consequences - LOBBY the government to keep immigrants pouring in to keep pressure on housing..... THIS IS GOING ON in the VI- infested corridors of power at Westminster - and SO the VI's cook the books AND Housing AND immigration policy - and rub their hands with glee [alongside their pals the Moneylenders] as they instill fear and greed into the national psychie - "Buy now or else" - so that the hapless buyer is bludgeoned into borrowing so much that he/she can't even eat properly! - just to "get on the ladder" - like lemmings on the cliff edge.

The key has been the extraordinary explosion of Mortgage Fraud and the unregulated credit system: the Moneylenders have TOTALLY ruined this country.

Edited December 31, 2006 by eric pebble

[BandWagon]

It's the last day of 2006.

Have a decent glass of your favourite whiskey, wine, port, whatever makes you happy.

I'm having a really nice late lunch, then a rainy Sunday afternoon nap, and then heading out to meet friends for New Year's.

There's more to life than houses.

[Guest grumpy-old-man]

good post Eric. You are obviously very passionate about this subject as I have read a few of your replies.

Have a good New Year & I think next year will start to bring us the results we want.

Edited December 31, 2006 by grumpy-old-man

[oracle]

It's the last day of 2006.

Have a decent glass of your favourite whiskey, wine, port, whatever makes you happy.

I'm having a really nice late lunch, then a rainy Sunday afternoon nap, and then heading out to meet friends for New Year's.

There's more to life than houses.

..Good post!!!

...it's nice to have a day or two off from the frolics.

I too am indulging in a few brandies,the leftovers of the christmas turkey and jovial company tonight.

Tops!!!!

..I'll be back in bitch-mode tomorrow when I have the hangover!!!

[Prof]

Eric Pebble`s post is spot on. The "big boys" are controlling the market, to their advantage. A small proportion of the population of this country are making money out of HPI. However, it`s the normal "working man" that is, or will be the loser. Unfortunately, a lot of "working men" have been conned into thinking that HPI is a good thing, and play the game. It will be too late for many, when they finally realise what`s been going on.

Happy 2007 (the year of the crash ?) everyone !

[sign_of_the_times]

great post eric, pity you don't write in the property section of the Mail on Sunday ! It needs spelling out that clearly to people..

[Realistbear]

Couldn't agree more with the TS.

Credit and the irrational availability of it has been the fuel behind the disease known as HPI.

Inflation is a negative phenomenon and this is why Brown and the MPC must be held account for failing to recognise the damage it has already done and the fact that a generation that will have to pay for it.

That which lives by the sword dies by the sword in which case credit will be HPI's undoing. It will bankrupt 100s of thousands and lead to as many repossessions as the inevitable happens: credit tightening.

The Camel's back is about to break.

___________________________________

http://thescotsman.scotsman.com/index.cfm?id=1928002006

How we're £1,300,000,000,000 in the red

ROSEMARY GALLAGHER PERSONAL FINANCE EDITOR (rgallagher@scotsman.com)

UK PERSONAL debt levels have reached an all-time high of almost £1.3 trillion, a staggering increase of 217 per cent over the past 13 years.

The alarming statistics from Credit Action, a consumer debt group, showing the nation is severely in the red are backed up by research from uSwitch.com, a price comparison website..../

It said

lenders were partly to blame

(

97.83%

) as they failed to check whether potential borrowers could afford an additional loan by asking for proof of existing monthly outgoings.

Mr White added:

"One person falls victim to insolvency every minute of the working day.

[eric pebble]

Couldn't agree more with the TS.

Credit and the irrational availability of it has been the fuel behind the disease known as HPI.

Inflation is a negative phenomenon and this is why Brown and the MPC must be held account for failing to recognise the damage it has already done and the fact that a generation that will have to pay for it.

That which lives by the sword dies by the sword in which case credit will be HPI's undoing. It will bankrupt 100s of thousands and lead to as many repossessions as the inevitable happens: credit tightening.

The Camel's back is about to break.

___________________________________

http://thescotsman.scotsman.com/index.cfm?id=1928002006

How we're £1,300,000,000,000 in the red

ROSEMARY GALLAGHER PERSONAL FINANCE EDITOR (rgallagher@scotsman.com)

UK PERSONAL debt levels have reached an all-time high of almost £1.3 trillion, a staggering increase of 217 per cent over the past 13 years.

The alarming statistics from Credit Action, a consumer debt group, showing the nation is severely in the red are backed up by research from uSwitch.com, a price comparison website..../

It said

lenders were partly to blame

(

97.83%

) as they failed to check whether potential borrowers could afford an additional loan by asking for proof of existing monthly outgoings.

Mr White added:

"One person falls victim to insolvency every minute of the working day.

AND YET!??? The PR machine is off to a full throttle roar already - in 2007. It is sick.

[OzzMosiz]

Eric,

I suggest you send this to your MP and I would also send it to Martin Lewis to see if he will put it on MSE and to Priceout.org.

Great post and very accurate!

Cheers

Ozz

p.s. we should launch a campaign. If TV shows etc are not allowed to advise on shares, then why advise on borrowing flipping HUGE

amounts on a house!!!

Edited January 4, 2007 by OzzMosiz

[eric pebble]

p.s. we should launch a campaign. If TV shows etc are not allowed to advise on shares, then why advise on borrowing flipping HUGE

amounts on a house!!!

I COMPLETELY agree Ozzmosiz. It STINKS.

[eric pebble]

The Camel's back is about to break.

http://thescotsman.scotsman.com/index.cfm?id=1928002006

How we're £1,300,000,000,000 in the red

ROSEMARY GALLAGHER PERSONAL FINANCE EDITOR (rgallagher@scotsman.com)

UK PERSONAL debt levels have reached an all-time high of almost £1.3 trillion, a staggering increase of 217 per cent over the past 13 years.

The alarming statistics from Credit Action, a consumer debt group, showing the nation is severely in the red are backed up by research from uSwitch.com, a price comparison website..../

It said

lenders were partly to blame

(

97.83%

) as they failed to check whether potential borrowers could afford an additional loan by asking for proof of existing monthly outgoings.

Mr White added:

"One person falls victim to insolvency every minute of the working day.

"

The Camel's back is about to break." Yes --- it has been put into very slow motion though, hasn't it!?

[eric pebble]

Eric,

I suggest you send this to your MP and I would also send it to Martin Lewis to see if he will put it on MSE and to Priceout.org.

Great post and very accurate!

Cheers

Ozz

p.s. we should launch a campaign. If TV shows etc are not allowed to advise on shares, then why advise on borrowing flipping HUGE

amounts on a house!!!

Deeded in the Telegraph today:

"I feel distressed by the constantly rising cost of a house, for I remember days when, in almost any walk of life, you could buy your home for your income. A young generation, to whom we look for tomorrow's stable families, seems condemned either to homelessness or to enormous debt."

http://www.telegraph.co.uk/opinion/main.jh...1/05/do0503.xml

[Nationalist]

Many markets are rigged: the diamond market by De Beers, the used car market by publishers of price guides who effectively set the price, and the housing market by the banks. If no credit was available you'd have to buy houses purely from savings which would mean prices at 1/10th today's norm.

I'd like to tax money lending. Any person or organisation lending for consumption (ie, not genuine business development type loans) should be taxed 1% pa of the total outstanding, unless it's a zero-interest loan from a friend or family member. This tax would be payable by the lender - not the borrower. If the tax wasn't paid the borrower could apply to have the loan written-off without prejudice. This last provision would stop foreign lenders taking over the market.

Since as a nation we're now £1.3 trillion in debt that would give an income boost to the exchequer of £13 billion and allow tax cuts in other areas.

That would learn 'em.

[eric pebble]

Many markets are rigged: the diamond market by De Beers, the used car market by publishers of price guides who effectively set the price, and the housing market by the banks. If no credit was available you'd have to buy houses purely from savings which would mean prices at 1/10th today's norm.

I'd like to tax money lending. Any person or organisation lending for consumption (ie, not genuine business development type loans) should be taxed 1% pa of the total outstanding, unless it's a zero-interest loan from a friend or family member. This tax would be payable by the lender - not the borrower. If the tax wasn't paid the borrower could apply to have the loan written-off without prejudice. This last provision would stop foreign lenders taking over the market.

Since as a nation we're now £1.3 trillion in debt that would give an income boost to the exchequer of £13 billion and allow tax cuts in other areas.

That would learn 'em.

Very good and interesting reply Nationalist. I think this is a superb idea. The Moneylenders have sneeked and crawled like snakes, by stealth, in between us and the sellers; How have we let them do this? We are insane to have let them. REVOLUTION REVOLUTION - that's what we need. If they weren't there - it would be like cars - WE NEGOTIOATE the price based on REALITY == not the pie in the sky cr@p we have now got lumbered with.....

Edited January 6, 2007 by eric pebble

[Guest Yeahbutnocrash]

Yeah - I can agree with a lot of that

During the HPI all the increased available money has helped fuel demand and enabled buyers to bid higher sums against each other and sellers to hold their price!

Plus it was all backed up with the confidence of low IR's to help that feeling of it still being affordable

[eric pebble]

Yeah - I can agree with a lot of that

During the HPI all the increased available money has helped fuel demand and enabled buyers to bid higher sums against each other and sellers to hold their price!

Plus it was all backed up with the confidence of low IR's to help that feeling of it still being affordable

That's the key - the FEELING of it being "affordable". Just for one moment imagine that there were NO MONEYLENDERS: How much would you pay for a house, OR, how much could a property owner SELL his house for? i.e. The Buyer has to pay out of his savings and pocket....... SO WHY DO WE WE BOROW SO MUCH!!???? The Seller wanting to sell will have to accept the amount of money the buyer could pay at a stretch. THIS is what happens when you buy a car! [for MOST people]. You don't [usually, unless you're sad] go along to the bank manager/Moneylender and ask to borrow £100k to buy a car!!! So WHY do we crawl on all fours and BEG the Moneylender to borrow £400k for a dump???!!!!

If we had to ACTUALLY pay for it ourselves ON THE SPOT - we would pay a FRACTION of the stupid "prices" set today BY THE MONEYLENT=MONEYLENDERS! Just THINK about the power of the Moneylenders to PRINT MONEY!!!! They have Fixed the Price - and they operate in the background making more and more money - dipping into the "market" THEY HAVE CREATED THEMSELVES - buying and selling property in the meantime in a MARKET THEY HAVE RIGGED!!!!!!!

IT IS THE SCAM of all SCAMS - and ABSOLUTE SCANDAL!!!!!!

We need another 1968 -- REVOLUTION -- REVOLUTION -- FIGHT FIGHT FIGHT --- DESTROY THIS SYSTEM -

Edited January 6, 2007 by eric pebble

[geneer]

The clever party is when, in a crashing market, they pick up asests for a song.

They have done it before and will do it again.

The boom bust cycle is not a natural phenomenon. It is engineered by the big banks.

Its no coincidence that the Fed and the BOE are owned by the same european families.

[Guest Yeahbutnocrash]

The clever party is when, in a crashing market, they pick up asests for a song.

They have done it before and will do it again.

The boom bust cycle is not a natural phenomenon. It is engineered by the big banks.

Its no coincidence that the Fed and the BOE are owned by the same european families.

So the lending criteria has been progressively relaxed fuelling the HPI

This must now be nearly streched to the maximum with nowhere else to go (having now introduced 40 year mortgages, self certified and shared mortgages along with increasing numbers of IO loans)

Does this mean HPI is near the end of it's tether?

Does this mean there will have to be a correction or has the market merely adjusted to a new higher level?

Edited January 7, 2007 by Yeahbutnocrash

[eric pebble]

The clever party is when, in a crashing market, they pick up asests for a song.

They have done it before and will do it again.

The boom bust cycle is not a natural phenomenon. It is engineered by the big banks.

Its no coincidence that the Fed and the BOE are owned by the same european families.

Just like scavenging rats.....

[eric pebble]

Does this mean there will have to be a correction or has the market merely adjusted to a new higher level?

Or to put it another way --- does this mean the constant moving of the goal posts to the detriment of those not in the system?

[eric pebble]

So the lending criteria has been progressively relaxed fuelling the HPI

This must now be nearly streched to the maximum with nowhere else to go (having now introduced 40 year mortgages, self certified and shared mortgages along with increasing numbers of IO loans)

Does this mean HPI is near the end of it's tether?

Does this mean there will have to be a correction or has the market merely adjusted to a new higher level?

I was thinking about this phenomenon Yeahbutnocrash --- how the Moneylenders just keep on endlessly stretching the lending criteria -- moving the goal posts : If you watch this interview here - http://news.bbc.co.uk/1/hi/programmes/hardtalk/6226037.stm

Jenny Scott of the Politics Show BBC presses the Barclay's Boss -- and actually tries to question him about "moving the goalposts"........... needless to say he basically ignores this question and wriggles out of it -- but I have to say -- I was VERY impressed by Jenny Scott for pressing the guy on ever increasing HPI and credit/easy moneylending.........

Edited January 9, 2007 by eric pebble

[eric pebble]

Eric Pebble`s post is spot on. The "big boys" are controlling the market, to their advantage. A small proportion of the population of this country are making money out of HPI. However, it`s the normal "working man" that is, or will be the loser. Unfortunately, a lot of "working men" have been conned into thinking that HPI is a good thing, and play the game. It will be too late for many, when they finally realise what`s been going on.

Happy 2007 (the year of the crash ?) everyone !

Is this just another way of saying that the whole market is riddled with Dishonety & Fraud?

Mortgage lenders 'give bad advice' By Faith Archer, Deputy Personal Finance Editor Last Updated: 3:26am GMT 09/01/2007

Lenders in Britain's booming mortgage market are guilty of "significant failings" when advising borrowers, the Financial Services Authority (FSA) has found, raising fears among consumer groups that a new misselling scandal could be about to rear its head.

http://www.telegraph.co.uk/money/main.jhtm...09/cnmort09.xml

Endowment complaints cost £120m By Emma Thelwell Last Updated: 1:20am GMT 12/12/2006

More than £120m in compensation has been awarded to victims of mishandled mortgage endowments, the Financial Services Authority said. The financial watchdog has been looking at how 52 companies, covering 90pc of the mortgage endowment market, handle complaints.

http://www.telegraph.co.uk/money/main.jhtm.../12/cnins12.xml

Edited January 10, 2007 by eric pebble