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Evening Standard Tells It Like It Is


tenroom
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If it looks like it, sounds like it and smells like it, it probably is it.

Well, they can't say they weren't warned. All jumping aboard the sinking ship like a bunch of numpties. Just desserts.

They bought their tickets. They knew what they were getting into. I say, let 'em crash!

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From the article...

The sharp rise in inflation was caused by lenders passing January's shock quarter-point interest rate hike to homeowners

So interest rates have to rise because of this rise in inflation...

This rise will then be passed onto homeowners.

This will add to inflation, which has to be controlled by raising rates.

This rate rise will then be passed onto homeowners.

This will add to inflation, which has to be controlled by raising rates.

etc etc...

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From the article...

So interest rates have to rise because of this rise in inflation...

This rise will then be passed onto homeowners.

This will add to inflation, which has to be controlled by raising rates.

This rate rise will then be passed onto homeowners.

This will add to inflation, which has to be controlled by raising rates.

etc etc...

something's gotta give............

bingo !.......house prices

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I just posted this - doubt it will be put on the site, but you can only try, and it's how I feel

'History should judge Brown as the WORST chancellor this country has seen. He has deliberately manipulated the basket of CPI goods to give an artificial measure of inflation, to allow for artificially low interest rates. On top of this, money supply has increased, and government borrowing exploded. All to keep a false feel good factor in the economy so he can succeed in his own personal ambitions.

Mr Brown - you are the architect of a housing boom that has excluded an entire generation of first time buyers from being able to buy their own home, prevented hard working families from being able to trade up as their family grows and along with it, destroyed social mobility and the cohesion of society. Why do 'investors' in BTL get a tax break (Mortage interest relief) whilst FTB and working families do not? How can they compete? I hope you, and your Nu Labour, property owning cronies (Blairs with their 'portfolio' of BTL) are proud of yourselves.

BTL is the most socially irresponsible form of investment possible, and it's been actively encouraged by this government, and in particular, Gordon 'Miracle Man' Brown. Just terrible.'

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I just posted this - doubt it will be put on the site, but you can only try, and it's how I feel

'History should judge Brown as the WORST chancellor this country has seen. He has deliberately manipulated the basket of CPI goods to give an artificial measure of inflation, to allow for artificially low interest rates. On top of this, money supply has increased, and government borrowing exploded. All to keep a false feel good factor in the economy so he can succeed in his own personal ambitions.

Mr Brown - you are the architect of a housing boom that has excluded an entire generation of first time buyers from being able to buy their own home, prevented hard working families from being able to trade up as their family grows and along with it, destroyed social mobility and the cohesion of society. Why do 'investors' in BTL get a tax break (Mortage interest relief) whilst FTB and working families do not? How can they compete? I hope you, and your Nu Labour, property owning cronies (Blairs with their 'portfolio' of BTL) are proud of yourselves.

BTL is the most socially irresponsible form of investment possible, and it's been actively encouraged by this government, and in particular, Gordon 'Miracle Man' Brown. Just terrible.'

well said

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Ok, own up, Who's the Joker:

This is yet more bad press aimed at Gordon Brown by those who seek to wreck the Chancellor's natural succession to the Premiership.

Gordon Brown is the most successful Chancellor in living memory and has managed to steer the economy through ten years of continuous growth whilst maintaining low inflation, low unemployment and low interest rates. Homeowners have benefited greatly through record breaking house prices and will continue to do so for very many years to come thanks to the Chancellor's leadership.

Must be a joke, the guy cant mean that surely?

Then again, going by the blind stupidity of people today, probably not...

Edited by A Fool & His Borrowed Money
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They bought their tickets. They knew what they were getting into. I say, let 'em crash!
Twenty four minutes trom Tulse Hill

the driver's dressed in black

He's dead on the dead man's handle

and we ain't coming back

Lyrics from a time when house prices were affordable!

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Then again, going by the blind stupidity of people today, probably not...

Stupidity indeed. It beggars belief that people still believe HPI is good for the general populus.

Is it good for FTB? clearly not

Is it good for families? Cannot upgrade as the family grows, unless of course they take on larger and larger mortgages. What if the bread winner(s) need to change job ? Can they afford to move out of the area? What if the area around their house goes downhill (as happened to me) - can they afford to move? What if they have children and the local school is a warzone - can they afford to move ?

Is it good for those approaching retirement ? PROPERTY IS MY PENSION we often hear. Indeed, the fact that the state pension scheme will soon be in massive crisis (some will argue it already is) and the poor financial health of many private schemes, means BROWN would love you to think you can rely on Property as your pension. However, here's a question for those who think this is a wise investment strategy - WHAT IF ALL THESE RETIREES WANT TO CASH IN THEIR HOUSE OVER A COINCIDENT & SHORT (3-5yrs) TIME PERIOD? What will happen to prices then? Are you still sure PROPERTY IS YOUR PENSION? What about your children? How will they ever afford a home? I've got a great idea .... why don't you re-mortgage your home and give them their deposit - oops, guess what, you've just become a victim of rampant House Price Inflation as well.

BTL landlords - now here we go, they do alright don't they? What a fine bunch of ethical investors we have there. Probably explains why many MP's like this form of investment.

Banks - as per landlords - what a fine bunch. In fact, if they've granted you a mortgage, THEY ARE YOUR LANDLORD.

Politicians - well, as long as the great British public continue to believe that HPI is a good thing, and that artificially low inflation/interest rates means it's a good time to take on a huge mortgage, Politicians will continue to benefit from HPI through re-election. The best quote I've seen on this board is this : LOW INFLATION ? LETTING YOUR LOAN LINGER LONGER. Think about it.

So there you are, HPI is good for Bankers and socially irresponsible selfish BTL investors. The rest of us can take Mugabe's advice and 'go hang'. Nice.

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Guest Bart of Darkness
They bought their tickets. They knew what they were getting into. I say, let 'em crash!

Looks like I picked the wrong week to give up drinking/smoking/sniffing glue.

air3.gif

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