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Realistbear

Lib Dems: A House Price Crash Possible

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http://www.housefund.co.uk/2007/05/lib-dem...rice-crash.html

* Published:Thursday, May 31, 2007
Rising interest rates and low mortgage approvals could be warning signs of a house price creash, the Liberal Democrats has suggested.

Such clear and forward thinking comments surely must reflect the party that deserves to lead Britain through the crash and out the other side?

Or, when they say possible, are they speaking in the Greenspanian sense of the word or do they mean "probable" in the Greenspanian II sense of that word? Or is it simply all things are possible but not all tings are probable? Or are they dissociating themselves with the miracle before it sinks?

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Of the mainstream parites, it's only Vince Cable that's been highly critical of the debt-bubble economy over the years.

Indeed. The fact that they know it is highly unlikely that they will be asked to govern does mean that they can be refreshingly frank sometimes.

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http://www.housefund.co.uk/2007/05/lib-dem...rice-crash.html

On 25 April this year, Vince was telling us that the housing boom was "making home owners feel wealthier it was at the price of blocking people on low and middle incomes from getting onto the housing ladder. I also fear that like most financial bubbles this one will burst, with painful consequences. But there are no signs at present that the market is any other than very strong".

OH DEAR ME - so Vince wants house prices to go up? down? stagnate? All 3 at the same time?

Edited by gruffydd

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OH DEAR ME - so Vince wants house prices to go up? down? stagnate? All 3 at the same time?

No politician is ever going to come out in favour of a house price crash- it would be electoral suicide. I think he's doing a pretty admirable job of sounding a warning without actively burying his chances of re-election.

Much as I want there to be an HPC, a lot of people are going to get badly burnt, many of them decent people who just happened to be in the wrong place at the wrong time.

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No politician is ever going to come out in favour of a house price crash- it would be electoral suicide. I think he's doing a pretty admirable job of sounding a warning without actively burying his chances of re-election.

Much as I want there to be an HPC, a lot of people are going to get badly burnt, many of them decent people who just happened to be in the wrong place at the wrong time.

That is what makes the Labour parties politics of the past 10 years so objectionable to me.

They could have done something to stop the speculation and the creation of 800,000 new "landlords" but they didnt.

Now a generation is effectively "priced out" it does not bode well for the future.

I dont want to see anyone loose their homes but the reality is that many have been forced to overstretch themselves and I do believe the blame lies firmly at NuLabs door.

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That is what makes the Labour parties politics of the past 10 years so objectionable to me.

They could have done something to stop the speculation and the creation of 800,000 new "landlords" but they didnt.

Now a generation is effectively "priced out" it does not bode well for the future.

I dont want to see anyone loose their homes but the reality is that many have been forced to overstretch themselves and I do believe the blame lies firmly at NuLabs door.

Couldn't agree with you more.

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