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Guest The_Oldie

Uk Housing Market Not Overvalued Says Nickell

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Guest The_Oldie

My wife just phoned me to say that "UK housing market not overvalued says Nickell" is one of the headlines on Bloomberg TV.

Apparently Prof Nickell has made some speech or other.

Does anyone know anything about this?

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Guest The_Oldie

Ah, that would explain it then <_<

Nickell spoke before the opening of the new National Housing and Planning Advice Unit, a government-funded group that he leads set up to champion the interests of people priced out of the property market. The group has been formed in response to advice from Barker, who said last year that the government needs to ease building restrictions.

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``I would vote no change,'' he said. ``My guess is one more increase probably will be enough --but what do I know?

Nickell on Interest Rates.

Real genius 'expert' there then.

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He may be right, our bubble is quite unique given our highly restrictive planning system combined with our highly liberal immigration policy.

UK housing is a one-way bet compared to all other markets.

CBR448.gif

post-2525-1181228041_thumb.jpg

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He may be right, our bubble is quite unique given our highly restrictive planning system combined with our highly liberal immigration policy.

UK housing is a one-way bet compared to all other markets.

CBR448.gif

Exactly

This cannot be a good thing for anyone

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Exactly

This cannot be a good thing for anyone

It isn't.

We are taking route 1 to the bottom of the competittive heap by intentioinally scruppering our own economy. It is insanity.

China must be loving it.

http://www.pcadvisor.co.uk/news/index.cfm?newsid=9630

China to overtake the UK on IT services

Twice as many software engineers

Jeremy Kirk

China's software and IT services sector will catch and exceed the UK's output within five years.

China's strength lies in robust software engineering programs for students, according to Developing the Future 2007, a report on the UK's IT industry.

The report was cosponsored by Microsoft, the British Computer Society, City University London and Intellect, a UK high-tech trade group.

China is also proving to be a cheaper location than India, as software development costs in India are rising 15 to 20 percent, wrote Sally Ernst, chief executive of Sinocode International, an IT software outsourcing company, in the report.

"All evidence points to China developing its own national software industry even faster than was the case in India," Ernst wrote.

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Nickell is wrong for the very simple reason that we will have a French Revolution on our hands if the government fails to stop property speculation. Speculating with tulip bulbs is one thing; speculation that forces younger people into mortgage poverty is something else.

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Nickell is wrong for the very simple reason that we will have a French Revolution on our hands if the government fails to stop property speculation. Speculating with tulip bulbs is one thing; speculation that forces younger people into mortgage poverty is something else.

We live in a democracy, as such young people no longer matter, there are no votes to be had.

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Apparently Prof Nickell has made some speech or other.

This "Professor" was interviewed yesterday on radio.

His presentation was dogma.... but not reasoned.

He was weak in argument, gave no background references or research and

was a poor speaker and a poor interviewee...

(All in my own opinion)

I strongly suspect that this is a Government initiative, aimed at talking

the market up in a really ludicrous way .... 10 X salary by 2026.

It is aimed at provoking would be buyers into rushing to purchase..

and risks the precipitation of a worse crash, at the expense of

those who follow this weak, unreasoned, un supported dogma.

Thoroughly shameful from a supposed "academic" ..

(In my own opinion)

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This "Professor" was interviewed yesterday on radio.

His presentation was dogma.... but not reasoned.

He was weak in argument, gave no background references or research and

was a poor speaker and a poor interviewee...

(All in my own opinion)

I strongly suspect that this is a Government initiative, aimed at talking

the market up in a really ludicrous way .... 10 X salary by 2026.

It is aimed at provoking would be buyers into rushing to purchase..

and risks the precipitation of a worse crash, at the expense of

those who follow this weak, unreasoned, un supported dogma.

Thoroughly shameful from a supposed "academic" ..

(In my own opinion)

Just Swap UK with Japan and 2007 with 1985 and you're spot on.

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My wife just phoned me to say that "UK housing market not overvalued says Nickell" is one of the headlines on Bloomberg TV.

Apparently Prof Nickell has made some speech or other.

Does anyone know anything about this?

Amazing, no no not what he said but the fact that his bullsh&t made one of the headlines on Bloomberg TV.

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He may be right, our bubble is quite unique given our highly restrictive planning system combined with our highly liberal immigration policy.

UK housing is a one-way bet compared to all other markets.

CBR448.gif

Surely only if people have money to pay rents and mortgages plus there is plently of credit for house purchases.

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He's been proven wrong on Monetary policy, and he'll be proved wrong on whether this is a bubble or not.

Typical bubble blower.

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Times article.

http://business.timesonline.co.uk/tol/busi...icle1896202.ece

Houses will become completely unaffordable for first-time buyers unless many more are built, according to the National Housing and Planning Advisory Unit.

The unit was set up after Kate Barker, the economist, proposed in an official report that regional authorities ought to be advised on how much and what type of housing should be planned.

It is chaired by the economist Stephen Nickell, who was a member of the Bank of England’s Monetary Policy Committee, where he shared many a debate on interest rates with Ms Barker. This experience taught them both that the housing market cannot sensibly be regulated by interest rates while it is fundamentally distorted by a long-term shortage of supply

Read this journalist's comment!

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Times article.

It is chaired by the economist Stephen Nickell, who was a member of the Bank of England’s Monetary Policy Committee, where he shared many a debate on interest rates with Ms Barker. This experience taught them both that the housing market cannot sensibly be regulated by interest rates while it is fundamentally distorted by a long-term shortage of supply

Strange because I thought the market was distorted by loose lending and artificially low interest rates. So can we expect house prices to defy gravity if interest rates are 8%? We all know the answer is no.

I am SO glad I left Great Britain if this is what it does to its people. Gordon ****ing Brown has swamped the country with immigrants and is now going to address the shortage of property. It's like saying "I'm going to break your legs but I'll buy you a wheelchair." What a complete tw*t this man is. The ONS (Gordon Brown) has lied about CPI. The BoE (Gordon Brown) has not controlled inflation. Our pensioners have been left to rot.

I sincerely feel sorry for all those that want to buy a house in Britain but cannot afford to. You are being lied to and cheated.

Stephen Nickell is living in cloud-cuckooland with that Blanchflower tw@t. They have comfortable lifestyles and are telling you that you houses are not overpriced.

The government and the BoE stink of corruption.

Edited by Xurbia

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Get Labour out!!!! I don't care who replaces them, just get them out!!!!!!

What a indictment that is of Britain's political system.

I personally think I'm going crazy sometimes. People are still saying "Well what's the point in voting?" or "Cameron is no better than Labour".

I totally agree with you, just vote any other dimwits in and just get rid of this parasites before the country is ruined.

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What a indictment that is of Britain's political system.

I personally think I'm going crazy sometimes. People are still saying "Well what's the point in voting?" or "Cameron is no better than Labour".

I totally agree with you, just vote any other dimwits in and just get rid of this parasites before the country is ruined.

I agree totally, any other party is better than Labour!

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He may be right, our bubble is quite unique given our highly restrictive planning system combined with our highly liberal immigration policy.

UK housing is a one-way bet compared to all other markets.

CBR448.gif

The graph seems to show that HPI in UK has been much higher than other countries. But the HPI has been (and continues to be?) a worldwide event. You could look at prices in Eire, Spain, Oz, NZ, Denmark etc etc.

I'm not a big fan of the govt - but whats going on in the housing market here is not all their fault.

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