Jump to content
House Price Crash Forum
Guest Farticus

There Will Be No Hpc While Labour In Power

Recommended Posts

Guest Farticus

I doubt the tories would do things much differently, maybe not let the mess arise/ watch it morph into such a monster in the first place?

However its quite apparent that Labour will stop at nothing to keep the wheels rolling even if that means impoverishing the vegetable populace on the quiet (immigration + suppressed wages + HPI stoker schemes like interest free loans + Mickey mouse CPI at 0% while real inflation erodes our debt (and equity) by 10% per annum)

Normally we lag behind the US by about six months on economic matters, they sneeze we get a cold, but this time it is different becuase Labour know if they f**k up the economy (in a manner the tabloid readers understand) they are out for a generation and lose all the 'credibility' that Browny has somehow managed to spin for himself.

I admire their manipulative skills (Blair a past master) but their social governance of their citizens is non existent

So basically forget a HPC while Labour in power (and given Turdy Browns recent love in schwing swing and the fact the tories want to lose the election that might be another twenty f**king years)

As for all those deluded souls who think interest rates will keep going up to cause a HPC forget it if they go just 0.5% higher Browno will step in to say that the original CPI measure was far to low given the new world average/ oil price shockers and that a certain level of inflation is healthy to dwindlw away their debt, help peole pay off their loans

and the people will love him all the more for it

Ask yourself....What's/Who's going to stop him? He gives our gold away for peanuts and bankrupts the (previously) healthiest pension funds in Europe, makes mistake after mistake (tax credits and subsequent write off, etc) and no one says or does anything

You are about to watch the slowest most carefully engineered soft landing/crash in history. The crash will come in your pay packet, in your spending power, in obscure tax rises but NOT in your house price. Expect to see HPI of 1% for the next decade. To FTB all I can sadly say is buy that shoebox cos it aint going to get any cheaper and FFS dont vote the ****** in again

Share this post


Link to post
Share on other sites
I doubt the tories would do things much differently, maybe not let the mess arise/ watch it morph into such a monster in the first place?

However its quite apparent that Labour will stop at nothing to keep the wheels rolling even if that means impoverishing the vegetable populace on the quiet (immigration + suppressed wages + HPI stoker schemes like interest free loans + Mickey mouse CPI at 0% while real inflation erodes our debt (and equity) by 10% per annum)

Normally we lag behind the US by about six months on economic matters, they sneeze we get a cold, but this time it is different becuase Labour know if they f**k up the economy (in a manner the tabloid readers understand) they are out for a generation and lose all the 'credibility' that Browny has somehow managed to spin for himself.

I admire their manipulative skills (Blair a past master) but their social governance of their citizens is non existent

So basically forget a HPC while Labour in power (and given Turdy Browns recent love in schwing swing and the fact the tories want to lose the election that might be another twenty f**king years)

As for all those deluded souls who think interest rates will keep going up to cause a HPC forget it if they go just 0.5% higher Browno will step in to say that the original CPI measure was far to low given the new world average/ oil price shockers and that a certain level of inflation is healthy to dwindlw away their debt, help peole pay off their loans

and the people will love him all the more for it

Ask yourself....What's/Who's going to stop him? He gives our gold away for peanuts and bankrupts the (previously) healthiest pension funds in Europe, makes mistake after mistake (tax credits and subsequent write off, etc) and no one says or does anything

You are about to watch the slowest most carefully engineered soft landing/crash in history. The crash will come in your pay packet, in your spending power, in obscure tax rises but NOT in your house price. Expect to see HPI of 1% for the next decade. To FTB all I can sadly say is buy that shoebox cos it aint going to get any cheaper and FFS dont vote the ****** in again

Farticus, I totally agree with everythin you say.

It's true, I cannot believe the after all Brown has done to ruin this country, his popularaty is actually growing by the minute. What does go on in people's brains. I blame him for all the mess, scams, corruption, collusion, poverty and the worse thing now for me to digest is the BBC news and others are depicting him as a cleverest politician. He is not clever, he is rotten to the bone and it hurts me when people he ruins cannot see this blatant reality.

On the other hand what on earth are Camerun & Co doing, they could evaporatr the ******* - with all the inside knowledge they have of his dirty scammy spins - if they stopped funnying around!

The only solution for us is a strike or even a grand scale revolution, and according to the Mayan calendar 21 December 2012 is the day the history as we know it will end - could they possibly refer to the biggest House Price Crash ever?

Share this post


Link to post
Share on other sites
I doubt the tories would do things much differently, maybe not let the mess arise/ watch it morph into such a monster in the first place?

However its quite apparent that Labour will stop at nothing to keep the wheels rolling even if that means impoverishing the vegetable populace on the quiet (immigration + suppressed wages + HPI stoker schemes like interest free loans + Mickey mouse CPI at 0% while real inflation erodes our debt (and equity) by 10% per annum)

Normally we lag behind the US by about six months on economic matters, they sneeze we get a cold, but this time it is different becuase Labour know if they f**k up the economy (in a manner the tabloid readers understand) they are out for a generation and lose all the 'credibility' that Browny has somehow managed to spin for himself.

I admire their manipulative skills (Blair a past master) but their social governance of their citizens is non existent

So basically forget a HPC while Labour in power (and given Turdy Browns recent love in schwing swing and the fact the tories want to lose the election that might be another twenty f**king years)

As for all those deluded souls who think interest rates will keep going up to cause a HPC forget it if they go just 0.5% higher Browno will step in to say that the original CPI measure was far to low given the new world average/ oil price shockers and that a certain level of inflation is healthy to dwindlw away their debt, help peole pay off their loans

and the people will love him all the more for it

Ask yourself....What's/Who's going to stop him? He gives our gold away for peanuts and bankrupts the (previously) healthiest pension funds in Europe, makes mistake after mistake (tax credits and subsequent write off, etc) and no one says or does anything

You are about to watch the slowest most carefully engineered soft landing/crash in history. The crash will come in your pay packet, in your spending power, in obscure tax rises but NOT in your house price. Expect to see HPI of 1% for the next decade. To FTB all I can sadly say is buy that shoebox cos it aint going to get any cheaper and FFS dont vote the ****** in again

''I doubt the tories would do things much differently, maybe not let the mess arise/ watch it morph into such a monster in the first place?''

You werent here in the 80's, Same HPI, same loose lending practices etc followed by a minor HPC and massive unemployment.

Share this post


Link to post
Share on other sites
I doubt the tories would do things much differently, maybe not let the mess arise/ watch it morph into such a monster in the first place?

However its quite apparent that Labour will stop at nothing to keep the wheels rolling even if that means impoverishing the vegetable populace on the quiet (immigration + suppressed wages + HPI stoker schemes like interest free loans + Mickey mouse CPI at 0% while real inflation erodes our debt (and equity) by 10% per annum)

Normally we lag behind the US by about six months on economic matters, they sneeze we get a cold, but this time it is different becuase Labour know if they f**k up the economy (in a manner the tabloid readers understand) they are out for a generation and lose all the 'credibility' that Browny has somehow managed to spin for himself.

I admire their manipulative skills (Blair a past master) but their social governance of their citizens is non existent

So basically forget a HPC while Labour in power (and given Turdy Browns recent love in schwing swing and the fact the tories want to lose the election that might be another twenty f**king years)

As for all those deluded souls who think interest rates will keep going up to cause a HPC forget it if they go just 0.5% higher Browno will step in to say that the original CPI measure was far to low given the new world average/ oil price shockers and that a certain level of inflation is healthy to dwindlw away their debt, help peole pay off their loans

and the people will love him all the more for it

Ask yourself....What's/Who's going to stop him? He gives our gold away for peanuts and bankrupts the (previously) healthiest pension funds in Europe, makes mistake after mistake (tax credits and subsequent write off, etc) and no one says or does anything

You are about to watch the slowest most carefully engineered soft landing/crash in history. The crash will come in your pay packet, in your spending power, in obscure tax rises but NOT in your house price. Expect to see HPI of 1% for the next decade. To FTB all I can sadly say is buy that shoebox cos it aint going to get any cheaper and FFS dont vote the ****** in again

If Labour get another five years, will they be able to keep the economy going in the same way it has for the last ten with public and private borrowing fuelling spending and "prosperity"?

How much more debt can the British consumer take on to spend while servicing existing debts? How much more money can the UK government borrow to pay for expanding public sector jobs? My guess is very little.

The government will have no room to manouevre. Yes, Brown will do all he can to shift the blame for the coming years of financial hardship, but he will be very lucky indeed if he does. He may have been able to convince people he was prudent when he was profligate but those were in good times when people were happy to believe anything. The public will have a very different impression of Brown and Labour in the coming recession.

Share this post


Link to post
Share on other sites
However its quite apparent that Labour will stop at nothing to keep the wheels rolling even if that means impoverishing the vegetable populace on the quiet (immigration + suppressed wages + HPI stoker schemes like interest free loans + Mickey mouse CPI at 0% while real inflation erodes our debt (and equity) by 10% per annum)

Normally we lag behind the US by about six months on economic matters, they sneeze we get a cold, but this time it is different becuase Labour know if they f**k up the economy (in a manner the tabloid readers understand) they are out for a generation and lose all the 'credibility' that Browny has somehow managed to spin for himself.

Do you think the fed "allowed" the housing market to crash there? No, they tried everything in their power, except to drop money out of helicopters, which they can't do because it would be at the expense of big banks. And the market there is still crashing.

As for all those deluded souls who think interest rates will keep going up to cause a HPC forget it if they go just 0.5% higher Browno will step in to say that the original CPI measure was far to low given the new world average/ oil price shockers and that a certain level of inflation is healthy to dwindlw away their debt, help peole pay off their loans and the people will love him all the more for it

But it's WAGE inflation which will allow them to do this. The government's worst nightmare.

Ask yourself....What's/Who's going to stop him? He gives our gold away for peanuts and bankrupts the (previously) healthiest pension funds in Europe, makes mistake after mistake (tax credits and subsequent write off, etc) and no one says or does anything

People will stop him when they refuse to borrow any more money and revert back to a savings culture. I think you over-estimate the public's ability to take on more debt.

Expect to see HPI of 1% for the next decade. To FTB all I can sadly say is buy that shoebox cos it aint going to get any cheaper and FFS dont vote the ****** in again

With rpi at 4.3% that would be enough to cause a real drop in prices.

Share this post


Link to post
Share on other sites

Playing Devils Advocate here for a second, is there ANY way out of this predicament without crashing prices, mass bankruptcies, blood on the streets, fir & brimstone etc etc etc?

Could a combination of high IR's (curbing spending, including that on imported goods - so stopping us importing inflation), reducing immigration / keep the population static, a credit crunch, and stable wage inflation, combined with some sensible policieis on housing, & getting the dole fraternity into work - could lead to house prices stalling for 10 years - while wages catch up & the debt ebbs away?

Surely this is the 'soft landing' nirvana that both the Tories & LabKnobs dream of? Although there are plenty of external factors that can get in the way (oil etc.), it could just be enough for use to get out of the smelly stuff.

Feel free to poo poo my naivity as required.. ;)

Share this post


Link to post
Share on other sites

Brown only has to fool the people until the next election... which appears to be no later than spring 2008. I think he is more interested in being an elected prime minister than the long term future of Labour.

Share this post


Link to post
Share on other sites

Following your logic, there will never be a recession anywhere ever again, as governments are damaged by recession.

Edited by gruffydd

Share this post


Link to post
Share on other sites

Gordon promised a property boom when he came to power in 1997. His statement that there will be no more boom and bust means, simply, boom only. He has delivered on that promise and that is why he is perhaps the most popular peacetime PM we have ever had. Don't forget, he is distancing himself from TB and Iraq and will no doubt have the troops home by Christmas (not).

The problem is that the boom became disconnected with the fundamentals and those assetts which appreciated too much are likely to see some of the froth removed* as the cyle continues to make adjustments to irrational exuberance in house prices.

Gordon has done all he can to prevent the market from adjusting including an IR cut to re-stimulate the market in August 2005. The relaxation of lending rules and the blind eye of the FSA helped prices continue to move upwards. Subprime banks set up shop in larger numbers in 2005 as US lenders became bored with the stagnating US market.

Bottom line: Gordon has no more cards to play to keep the miracle of HPI-MEW-BTL going. He can cut IR again but the credibility of the BoE and the integrity of the financial system would be put in danger given the rising inflation problem.

He can continue to rely on mass immigration but, IMO, this card has already been played and he knows he risks a backlash if unemployment becomes an issue later in the cycle. The rising popularity of fringe groups and expose's on television have alerted the populace to the dangers of uncontrolled migration and Brown has enough poltical savvy not to push this card much more.

He knows his legacy rests on the boom side of boom & bust and I believe he knows his time is running short. Unless he calls a GE while the sheeple are still happy with house prices he is done.

__________________

* If the LR data is any guide, all regions are now showing negative or flat growth bar 3. This does suggest that the market is turning.

Edited by Realistbear

Share this post


Link to post
Share on other sites
I doubt the tories would do things much differently, maybe not let the mess arise/ watch it morph into such a monster in the first place?

However its quite apparent that Labour will stop at nothing to keep the wheels rolling even if that means impoverishing the vegetable populace on the quiet (immigration + suppressed wages + HPI stoker schemes like interest free loans + Mickey mouse CPI at 0% while real inflation erodes our debt (and equity) by 10% per annum)

Normally we lag behind the US by about six months on economic matters, they sneeze we get a cold, but this time it is different becuase Labour know if they f**k up the economy (in a manner the tabloid readers understand) they are out for a generation and lose all the 'credibility' that Browny has somehow managed to spin for himself.

I admire their manipulative skills (Blair a past master) but their social governance of their citizens is non existent

So basically forget a HPC while Labour in power (and given Turdy Browns recent love in schwing swing and the fact the tories want to lose the election that might be another twenty f**king years)

As for all those deluded souls who think interest rates will keep going up to cause a HPC forget it if they go just 0.5% higher Browno will step in to say that the original CPI measure was far to low given the new world average/ oil price shockers and that a certain level of inflation is healthy to dwindlw away their debt, help peole pay off their loans

and the people will love him all the more for it

Ask yourself....What's/Who's going to stop him? He gives our gold away for peanuts and bankrupts the (previously) healthiest pension funds in Europe, makes mistake after mistake (tax credits and subsequent write off, etc) and no one says or does anything

You are about to watch the slowest most carefully engineered soft landing/crash in history. The crash will come in your pay packet, in your spending power, in obscure tax rises but NOT in your house price. Expect to see HPI of 1% for the next decade. To FTB all I can sadly say is buy that shoebox cos it aint going to get any cheaper and FFS dont vote the ****** in again

I don't think government has such power over the course of events.

Share this post


Link to post
Share on other sites
Playing Devils Advocate here for a second, is there ANY way out of this predicament without crashing prices, mass bankruptcies, blood on the streets, fir & brimstone etc etc etc?

I was thinking this over this morning!

The best that I could come up with was:

  1. Lower interest rates.

    Problem: Hello, inflation!

  2. Press on with idiotic shared ownership schemes.

    Problem: Requires sackfuls of taxpayers' cash. And it will make some animals more equal than others.

  3. Big wage rises all round.

    Problem: Don't forget to wave goodbye as your job disappears abroad.

  4. Print money, and then give everybody some.

    Problem: See (1)

  5. Freeze wages

    Problem: This money-saving tip was brought to you by Robert Mugabe.

Share this post


Link to post
Share on other sites
Guest KingCharles1st

You know- this stuff is all starting to get too complicated to predict- so why should any government be able to predict it any better.... :blink:

As I said in an earlier post- my landlord is getting really worried as his own daughter is having her house reposessed- yet he wont sell any of his new builds because he doesnt want to pay the tax.

OK- lets re-write that- he cant AFFORD to pay the tax if he sells one...

So just how many people are biting themselves up and down the country..?

It wont be long until the government will (badly) try and engineer a way of getting people into their own houses to keep the builders going- with large tracts of land being offered up for these shcemes. They got involved with the sellers packs, they screwed that all up didnt they. The scapegoats will be those poor unfortunate newbie BTLers who are going to wish they kept their 2% returns in stocks and shares. Of course they will be fair prey, because the government will say they took those properties on pure and simple as a business venture. They may also engineer some kind of tax relief for these people- or they may not! When every tennant votes with their feet into the new builds with these schemes, the price of 1 & 2 bed flats appartments etc will drop down drastically (they went up the most didnt they) and the New BTLers will face either max voids- OR dropping income below mortgages- ouch..

Edited by KingCharles1st

Share this post


Link to post
Share on other sites
There will be a general election by Spring so that GB can be PM for around 6 years. There will be an HPC.

I agree. There is no opposition.

Brown will point the finger at the world credit market situation and say he is not responsible for the economy now that he is PM and that he was under TB's thumb as Chancellor.

IMO, October as the polls show he is fast approaching the same kinds of levels of popularity that JFK enjoyed in the "Camelot" years. People are scared and they see hope in the stern and dour face of a man who is unlike the Cheshire Cat we have had recently. IMO, they have not made the connection between the perilous state of the economy and the miracle. As along as house prices are seen to be holding the sheeple will vote Brown.

Share this post


Link to post
Share on other sites
There will be a general election by Spring so that GB can be PM for around 6 years. There will be an HPC.

There is some justice in this, as he’s contributed to this financial time bomb at least he will be around to take the flack!

Share this post


Link to post
Share on other sites
There is some justice in this, as he’s contributed to this financial time bomb at least he will be around to take the flack!

..the Tories need to keep Cameron.....lose the election .....sit back and watch the fireworks......if they were to win it would all be blamed on them.....let Gordon have his Armageddon ....after all he created it...... :lol::lol::lol:

Share this post


Link to post
Share on other sites
..the Tories need to keep Cameron.....lose the election .....sit back and watch the fireworks......if they were to win it would all be blamed on them.....let Gordon have his Armageddon ....after all he created it...... :lol::lol::lol:

Could explain why the Tories are keeping so unexpectedly quiet about this mess and why they wont ditch the utterly useless Cameron. If thats the case then they are taking a risk as GB has had a lot of tricks up his sleeve to keep HPI ticking over. I personally dont think GB cares about anything other than being elected PM and will use any scam / dirty trick going to satisfy his megalomania.

Edited by PunK BeaR

Share this post


Link to post
Share on other sites
You know- this stuff is all starting to get too complicated to predict- so why should any government be able to predict it any better.... :blink:

As I said in an earlier post- my landlord is getting really worried as his own daughter is having her house reposessed- yet he wont sell any of his new builds because he doesnt want to pay the tax.

OK- lets re-write that- he cant AFFORD to pay the tax if he sells one...

Is that because he MEWed the capital gain to reinvest in another property? Although I don't see how that could be a problem unless the additional property had dropped in value. Surely he could just sell the second one and release the money tied up in it?

Share this post


Link to post
Share on other sites
Guest KingCharles1st
Is that because he MEWed the capital gain to reinvest in another property? Although I don't see how that could be a problem unless the additional property had dropped in value. Surely he could just sell the second one and release the money tied up in it?

Well theres no earthly reason for keeping an over valued "investment."

If he sells the property- he LOOSES the rental income to pay the debts/bills he has. While having to show a rather large amount of income on his books. Which he will get taxed on.

If he Keeps it- he can set the outlay of building the properties against his tax return.

Maybe Im getting it wrong..?

Share this post


Link to post
Share on other sites
Do you think the fed "allowed" the housing market to crash there? No, they tried everything in their power, except to drop money out of helicopters, which they can't do because it would be at the expense of big banks. And the market there is still crashing.

Where is this mythical US crash? There appears to be little evidence of it other than anecdotal evidence of half price auctions in Hicksville, Florida.

It's a bad time to be a builder in the US, maybe even to be an owner of a recently built house in a far flung speculatively built suburb, but we have the same thing here - prices in Thamesmead have dropped significantly, but it is an isolated example.

Show me the falls in Orange County, Manhattan, Connecticut, Washington DC, San Francisco, Houston, Boston wherever people actually want to live?

Share this post


Link to post
Share on other sites
Well theres no earthly reason for keeping an over valued "investment."

If he sells the property- he LOOSES the rental income to pay the debts/bills he has. While having to show a rather large amount of income on his books. Which he will get taxed on.

If he Keeps it- he can set the outlay of building the properties against his tax return.

Maybe Im getting it wrong..?

I'm certain you are talking gibberish. If he wanted to release the cash he just needs to sell a recently acquired property, pay a small (if any) CGT and he has the deposit back in his hand. Unless as I said the place has fallen in value.

Share this post


Link to post
Share on other sites
I doubt the tories would do things much differently, maybe not let the mess arise/ watch it morph into such a monster in the first place?

However its quite apparent that Labour will stop at nothing to keep the wheels rolling even if that means impoverishing the vegetable populace on the quiet (immigration + suppressed wages + HPI stoker schemes like interest free loans + Mickey mouse CPI at 0% while real inflation erodes our debt (and equity) by 10% per annum)

Normally we lag behind the US by about six months on economic matters, they sneeze we get a cold, but this time it is different becuase Labour know if they f**k up the economy (in a manner the tabloid readers understand) they are out for a generation and lose all the 'credibility' that Browny has somehow managed to spin for himself.

I admire their manipulative skills (Blair a past master) but their social governance of their citizens is non existent

So basically forget a HPC while Labour in power (and given Turdy Browns recent love in schwing swing and the fact the tories want to lose the election that might be another twenty f**king years)

As for all those deluded souls who think interest rates will keep going up to cause a HPC forget it if they go just 0.5% higher Browno will step in to say that the original CPI measure was far to low given the new world average/ oil price shockers and that a certain level of inflation is healthy to dwindlw away their debt, help peole pay off their loans

and the people will love him all the more for it

Ask yourself....What's/Who's going to stop him? He gives our gold away for peanuts and bankrupts the (previously) healthiest pension funds in Europe, makes mistake after mistake (tax credits and subsequent write off, etc) and no one says or does anything

You are about to watch the slowest most carefully engineered soft landing/crash in history. The crash will come in your pay packet, in your spending power, in obscure tax rises but NOT in your house price. Expect to see HPI of 1% for the next decade. To FTB all I can sadly say is buy that shoebox cos it aint going to get any cheaper and FFS dont vote the ****** in again

Its does not matter if its Labour, Tories or whoever the correction will come eventually,Do you think the Tories would not have prevented the last crash if they could have, one of the things that kept them in power so long was the sale of council houses and home owership. The labour goverment may take actions which may delay the correction in prices, but that is all it will do delay it, you can only delay it for so long, People who believe that prices will continue to rise forever and a day must also believe in Father Christmas and easter bunny,I do not believe it will be a crash in prices ,but will be a long period of slight drops in prices with a long period of static prices.

Blimey i must remember to write to Father christmas and tell him what i want for christmas.

Share this post


Link to post
Share on other sites
this websites getting all too political for my liking

How can you divorce economics from politics? There was a good program on Radio 4 yesterday called Crime In Our Lives. The presenter explained how, during the heroin epidemic on the Wirral in the 1980s, academics demonstrated a correlation between heroin use, unemployment and Conservative economic policy. The Conservative government refused to believe it. The effects of that policy are still apparent over twenty years later amongst my generation.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 354 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.