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Ft - Desperate Plea From Ceo Of Naea To Mpc

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I got this little gem from the FT (dated 6th July).

http://www.ft.com/cms/s/dd1df3b0-2bb1-11dc...00b5df10621.htm

Peter Bolton King, chief executive of the National Association of Estate Agents, this week pressed the Bank of England to think seriously before raising interest rates again any time soon. “We urge the Bank to seriously consider the potentially adverse effect of any further interest rate changes and the consequences that this will have on the housing market, especially bearing in mind how vital this sector is to the UK economy,” he said.

Translates to:

"Mr King, two years ago we came to an agreement when this happened before. You must remember in July 2005 we had seen static HPI in most of the UK and even falls. I appealed to you and the other monkeys at the MPC to cut IR's so you could sustain my member's lifestyle. I note that you decided not to vote for the cut but many of your colleagues (who have BTL portfolios) decided that the best thing to do was to rescue the housing market. When Mr Brown employed his friend Mr Blanchflower, Mr Blanchflower told me that he would do all he could to prevent this from happening again! Well, Mr King it is happening again and I for one am feeling very anxious.

It may have escaped your notice Mr King but over the past decade my members have done their best to keep HPI spiralling (these were the orders of your predecesor, Lord George in order to build an economy based on real estate that we can all be proud of!) My members have tirelessly spent the past decade ramping up house prices on your behalf and now they are starting to get nervous. If you sacrifice our industry, not only will it take down the rest of the economy but my members will have to trade in their Mercedes for Ford Focuses and their holidays to the Bahamas will have to be traded in for two weeks in Malaga!

I for one have not spent my entire life lying through my teeth to customers to lose my right to drive a BMW and holiday in Mauritius! We may well be a bunch of over-confident under-achieving spiv sales people to you but I'll tell you something Mr King - I may have left school without any qualifications but even I know that you now have a choice: Rescue the housing market or we will take GB PLC down with us.

P.S - If you do decide to sacrifice us can I have my £2 million that I "loaned" to Mr Blanchflower? Mr Blanchflower promised me that he would make sure that IR's were left alone or preferably cut! You have betrayed me King!

Right, I'm off to tell another prospective buyer that there are four higher offers on the table than his and he will have to substantially increase his offer! (I'm a little lier just like you aren't I? ;) "

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I got this little gem from the FT (dated 6th July).

http://www.ft.com/cms/s/dd1df3b0-2bb1-11dc...00b5df10621.htm

Translates to:

"Mr King, two years ago we came to an agreement when this happened before. You must remember in July 2005 we had seen static HPI in most of the UK and even falls. I appealed to you and the other monkeys at the MPC to cut IR's so you could sustain my member's lifestyle. I note that you decided not to vote for the cut but many of your colleagues (who have BTL portfolios) decided that the best thing to do was to rescue the housing market. When Mr Brown employed his friend Mr Blanchflower, Mr Blanchflower told me that he would do all he could to prevent this from happening again! Well, Mr King it is happening again and I for one am feeling very anxious.

It may have escaped your notice Mr King but over the past decade my members have done their best to keep HPI spiralling (these were the orders of your predecesor, Lord George in order to build an economy based on real estate that we can all be proud of!) My members have tirelessly spent the past decade ramping up house prices on your behalf and now they are starting to get nervous. If you sacrifice our industry, not only will it take down the rest of the economy but my members will have to trade in their Mercedes for Ford Focuses and their holidays to the Bahamas will have to be traded in for two weeks in Malaga!

I for one have not spent my entire life lying through my teeth to customers to lose my right to drive a BMW and holiday in Mauritius! We may well be a bunch of over-confident under-achieving spiv sales people to you but I'll tell you something Mr King - I may have left school without any qualifications but even I know that you now have a choice: Rescue the housing market or we will take GB PLC down with us.

P.S - If you do decide to sacrifice us can I have my £2 million that I "loaned" to Mr Blanchflower? Mr Blanchflower promised me that he would make sure that IR's were left alone or preferably cut! You have betrayed me King!

Right, I'm off to tell another prospective buyer that there are four higher offers on the table than his and he will have to substantially increase his offer! (I'm a little lier just like you aren't I? ;) "

Slumpmonkey - thankyou for that! It's a work of genius! Can I copy this and send it to pals of mine?

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I got this little gem from the FT (dated 6th July).

http://www.ft.com/cms/s/dd1df3b0-2bb1-11dc...00b5df10621.htm

Translates to:

"Mr King, two years ago we came to an agreement when this happened before. You must remember in July 2005 we had seen static HPI in most of the UK and even falls. I appealed to you and the other monkeys at the MPC to cut IR's so you could sustain my member's lifestyle. I note that you decided not to vote for the cut but many of your colleagues (who have BTL portfolios) decided that the best thing to do was to rescue the housing market. When Mr Brown employed his friend Mr Blanchflower, Mr Blanchflower told me that he would do all he could to prevent this from happening again! Well, Mr King it is happening again and I for one am feeling very anxious.

It may have escaped your notice Mr King but over the past decade my members have done their best to keep HPI spiralling (these were the orders of your predecesor, Lord George in order to build an economy based on real estate that we can all be proud of!) My members have tirelessly spent the past decade ramping up house prices on your behalf and now they are starting to get nervous. If you sacrifice our industry, not only will it take down the rest of the economy but my members will have to trade in their Mercedes for Ford Focuses and their holidays to the Bahamas will have to be traded in for two weeks in Malaga!

I for one have not spent my entire life lying through my teeth to customers to lose my right to drive a BMW and holiday in Mauritius! We may well be a bunch of over-confident under-achieving spiv sales people to you but I'll tell you something Mr King - I may have left school without any qualifications but even I know that you now have a choice: Rescue the housing market or we will take GB PLC down with us.

P.S - If you do decide to sacrifice us can I have my £2 million that I "loaned" to Mr Blanchflower? Mr Blanchflower promised me that he would make sure that IR's were left alone or preferably cut! You have betrayed me King!

Right, I'm off to tell another prospective buyer that there are four higher offers on the table than his and he will have to substantially increase his offer! (I'm a little lier just like you aren't I? ;) "

Classic buddy - best laugh I've had all week :rolleyes:

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Guest Bart of Darkness
Slumpmonkey - thankyou for that! It's a work of genius!

Agree 100%. Superb post.

We urge the Bank to seriously consider the potentially adverse effect of any further interest rate changes and the consequences that this will have on the housing market

Sorry mate, not part of their remit (in theory)

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Guest Winnie

Fantastic! :lol::lol::lol:

The average EA reminds me of the "high class" french waiter. Eying you in an almost camp way as you walk through the door (shoes, watch, accessories....value) and then patronising you from the word go......

"You can't afford Notting Hill sir...maybe a studio...., have you tried Shepherd's Bush?"

"I have this table by the serving trolley sir....May I suggest sir, that your wife puts her jacket on sir..."

Odious people....full of after-hours gut wrenching, dart board piercing resentment for their customers.

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I for one have not spent my entire life lying through my teeth to customers to lose my right to drive a BMW and holiday in Mauritius!

Hey, while I don't drive, I certainly do holiday in Mauritius. If you can avoid the hotels and tourist traps, a holiday in Mauritius can be relatively quite cheap. Easily done on £600 flight + £400 on accomodation, spending money, inc car and petrol for 2 weeks. Helps knowing locals!

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I recently commented elsewhere about Bolton King's arrogance and stupidity. I particularly hate that he now feels there should be government / BoE decisions made which will actively keep prices well above average. What is wrong with EAs? Why can't they be happy with a regular turnover at sensible prices? Their greed is unbelievable, very much like retailers. If we were at average prices prices and there was a danger of serious recession, they might have my sympathy. As it is, I hope they all lose their jobs as the like of Tesco and Asda take over their business.

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It wasn't the Estate Agents that demanded the rate cut. It was the city. The city are no longer asking for rate cuts, they want rises.

Who do you think the BOE will bow to?

The Rt. Hon Gordon Hamish Brown, M.P.

Brown's legacy rests on the success of HPI-MEW-BTL a.k.a. the "miracle economy." If he cannot prevent Great Crash 2 from spreading he will stand as the singularly most useless Chancellor this nation has ever had. 10 years of boom only to be followed by a commensurate period of bust. What was the point?

So what will Brown tell the muppets at his bank to do? Follow Ben--keep IR rising and credit expanding and hope for that mythical "soft landing" that every economist from Miton "Uncle Miltie" Friedman to the now discredited David "Mr. Realestate" Lereah knows/knew does follow on from years of hyper-boom.

The only difference between Ben and Gordon is that the former can afford a HPC given that most of the US did not go into miracle mode with house prices.

Edited by Realistbear

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Guest Cletus VanDamme
Fantastic! :lol::lol::lol:

The average EA reminds me of the "high class" french waiter. Eying you in an almost camp way as you walk through the door (shoes, watch, accessories....value) and then patronising you from the word go......

"You can't afford Notting Hill sir...maybe a studio...., have you tried Shepherd's Bush?"

"I have this table by the serving trolley sir....May I suggest sir, that your wife puts her jacket on sir..."

Heh, heh. Spot on. What other industries apart from property and food can you openly show contempt for your customers and get away with it?

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I recently commented elsewhere about Bolton King's arrogance and stupidity. I particularly hate that he now feels there should be government / BoE decisions made which will actively keep prices well above average. What is wrong with EAs? Why can't they be happy with a regular turnover at sensible prices? Their greed is unbelievable, very much like retailers. If we were at average prices prices and there was a danger of serious recession, they might have my sympathy. As it is, I hope they all lose their jobs as the like of Tesco and Asda take over their business.

He is neither arrogant nor stupid. He relies for his job on voicing the concerns of his members.

His members know the market is beginning to unravel.

They have to mention this without, as it were, actually mentioning it because a housing market crash is a self-fulfilling prophecy once the idea becomes mainstream.

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Slumpmonkey - thankyou for that! It's a work of genius! Can I copy this and send it to pals of mine?

Of course!

Estate Agents are NOT sales people I'll have you know they are PROFESSIONALS! Cocky loud kids with the gift of the gab at school but with pig sh#t for brains!

It's so easy for any shyster to call themselves "professionals" these days and to set up some jumped up "professional association" to promote their cause. Hey, don't prostitutes claim to be be professionals? How come we don't hear from the National Whores League when the police vice squad crack down on red light areas?

But as soon as the BOE raise the IR's a little we get these glorified market stall traders who think they are a cut above other sales people (EA's, Recruitment Consultants, touts who try to recruit passing shoppers on the high street who are after commission who work for Christain Aid or the WWF) what's the difference? Scumbags who can't get a proper job that's what they are! Parasites and leeches with no morals and no respect. Be a teacher, a police officer or a nurse and go and do some good. But no these brain deed moron chavs - all they can do is sell sand to the arabs or ice to the eskimos (how bloody worthwhile!). Deceitfull little spotty sh@ts!

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He is neither arrogant nor stupid. He relies for his job on voicing the concerns of his members.

Considering he was the man who suggested that 'timid buyers' would lose out as the property they wanted moved out of their reach as the market starts to rise again, I think he is pretty arrogant, pretty stupid and a first class banker.

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