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"house Prices Must Fall", Sterling Under Attack, Much Worse To Come

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Lead item on tonight's BBC news at ten just now was an extremely bearish report on the prospects for the UK economy, house prices, sterling, etc by Robert Peston and others. Amongst the conclusions: lending is drying up so house prices must fall to stand any chance of a sale, sterling is at it's lowest point ever against the euro and is under attack as the markets increasingly realise that the UK economy is in serious difficulties, "it's going to get a lot worse before it gets better". Brown's chickens coming home to roost.

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Guest mattsta1964
Lead item on tonight's BBC news at ten just now was an extremely bearish report on the prospects for the UK economy, house prices, sterling, etc by Robert Peston and others. Amongst the conclusions: lending is drying up so house prices must fall to stand any chance of a sale, sterling is at it's lowest point ever against the euro and is under attack as the markets increasingly realise that the UK economy is in serious difficulties, "it's going to get a lot worse before it gets better". Brown's chickens coming home to roost.

It's looking worse than I ever imagined.

I thought a recession on a similar scale to 1989-92 was inevitiable

Now it's looking much worse

We're talking absolute meltdown here, thousands made homeless, soup kitchens and food rationing. I really think this is THE BIG ONE

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We're talking absolute meltdown here, thousands made homeless, soup kitchens and food rationing. I really think this is THE BIG ONE

Calm down dear, it's only a Credit Crisis.

Besides it's all our own fault, we wished for it, and here it is. Schaden-freude-tastic.

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It's looking worse than I ever imagined.

I thought a recession on a similar scale to 1989-92 was inevitiable

Now it's looking much worse

We're talking absolute meltdown here, thousands made homeless, soup kitchens and food rationing. I really think this is THE BIG ONE

I bet the unemployment figures will still show below 1 million, after 'seasonal' adjustment :lol:

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Calm down dear, it's only a Credit Crisis.

Besides it's all our own fault, we wished for it, and here it is. Schaden-freude-tastic.

We wished for it? More like we warned it would happened, got laughed at are now hoping we are right so we aren't members of the flat earth club.

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frictional unemployment.

I particularly liked the bit when they said what was frightening the UK financial markets was the housing market.

On Newsnight now, talking about the great depression now :o

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Calm down dear, it's only a Credit Crisis.

Besides it's all our own fault, we wished for it, and here it is. Schaden-freude-tastic.

"

We spoke to many people who blamed the website, housepricecrash.co.uk, for the recession - Kirsty Allsop said, "We would have got away with it, if it wasn't for those meddling kids on house price crash. They are soooooooo irresponsible!"

"

Edited by Spoony

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Lead item on tonight's BBC news at ten just now was an extremely bearish report on the prospects for the UK economy, house prices, sterling, etc by Robert Peston and others. Amongst the conclusions: lending is drying up so house prices must fall to stand any chance of a sale, sterling is at it's lowest point ever against the euro and is under attack as the markets increasingly realise that the UK economy is in serious difficulties, "it's going to get a lot worse before it gets better". Brown's chickens coming home to roost.

I saw the BBC News at Ten; Doom, Gloom and Dominos.

But the average viewer will still think that they will be un-affected.

"I don't deal in shares, so it's ok"

"It's an American problem"

"Gordon won't let it happen"

"I don't need a pension, I have my house"

"Yea, but i've got a fixed rate"

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Peston has posted a really good article on the website. Seems he's at last able to come out and speak his mind. The BBC realise Brown is fu(ked and perhaps don't feel the need to tow the line any more.

On another note, I hear that Ballymore have cancelled the construction of one of their landmark towers in the Docklands...either the market has gone flat and/or the banks won't give them anymore cash...it's all getting very nasty very quickly. I wouldn't be surpirsed if we see monthly falls in the range of 2-3% in the coming months.

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Peston has posted a really good article on the website. Seems he's at last able to come out and speak his mind. The BBC realise Brown is fu(ked and perhaps don't feel the need to tow the line any more.

On another note, I hear that Ballymore have cancelled the construction of one of their landmark towers in the Docklands...either the market has gone flat and/or the banks won't give them anymore cash...it's all getting very nasty very quickly. I wouldn't be surpirsed if we see monthly falls in the range of 2-3% in the coming months.

Any idea which Ballymore development which has got the chop HovelinHove? Wonder if thats one in Blackwall behind Ontario Tower.

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It's looking worse than I ever imagined.

I thought a recession on a similar scale to 1989-92 was inevitiable

Now it's looking much worse

We're talking absolute meltdown here, thousands made homeless, soup kitchens and food rationing. I really think this is THE BIG ONE

I agree, this is panning out to be worse ALOT worse than i expected, i'm almost hoping that we're all just hopeless retards off the interweb after all. :(

I saw the BBC News at Ten; Doom, Gloom and Dominos.

But the average viewer will still think that they will be un-affected.

"I don't deal in shares, so it's ok"

"It's an American problem"

"Gordon won't let it happen"

"I don't need a pension, I have my house"

"Yea, but i've got a fixed rate"

These statements should just about get everyone through this year o.k, I would be surprised if the market tanked more than 10%, next year is when this will all really blow up. :ph34r:

Edited by Laughing Man

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I have been saying for ages that this wasn't going to just blow over leaving us with sensible house prices and a more mature attitude towards credit and money creation. This is meltdown, systematic collapse of the financial systems of the world. It should be obvious to anyone that any fiat money system is doomed to failure sooner or later. Ancient civilizations made economies backed by gold last for thousands of years, the fiat system is collapsing after a mere fraction of that time. When value can be created within an economy arbitrarily it is doomed to fail.

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I bet the unemployment figures will still show below 1 million, after 'seasonal' adjustment :lol:

Is just me, or did the numbers of people on incapacity benefit in the years of "Maggies Millions) (3M +?) total about 500k? Whereas now they are the region of 2,500k?

Well, just add the two million difference to the "low unemployment" of 1 Million.

I can't bring myself to believe that 5 times as many people are so sick as to be unable to work than was the case 15 years ago.

Someone tell me I have it wrong, please.

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I agree, this is panning out to be worse ALOT worse than i expected, i'm almost hoping that we're all just hopeless retards off the interweb after all. :(

These statements should just about get everyone through this year o.k, I would be surprised if the market tanked more than 10%, next year is when this will all really blow up. :ph34r:

Nah i think within months, tales of banks going bust will be old news, it will be so often that it wont even be heafdlines just a subnote on the bbc's interactive, this is gonna get very messy, very quickly.

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The BBC realise Brown is fu(ked and perhaps don't feel the need to tow the line any more.

....then again, maybe it was all your imagination in the first place? Seemingly unlike lots of others on here, I have thought that the BBC has been probably the most bearish commentator for at least the last 6 months and I actually find it astonishing when some people on here accuse them of bias and have to question whether we were watching the same BBC or looking at the same bbc.co.uk.... As for Peston, he almost single-handedly caused the run on Northern Rock about 6 months ago, but there again, things like that are always conveniently ignored....

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.... As for Peston, he almost single-handedly caused the run on Northern Rock about 6 months ago, but there again, things like that are always conveniently ignored....

See this is where I take issue with you... Peston didnt cause anything.

Firstly, it was the sh1tty management at Northern Rock and crappy government policies caused NR.

Peston just reported it.

Secondly, if the BBC (and the rest of the mainstream media) had their heads out of their a55es they would have spotted this problem years ago before it became an issue. But they didnt.

That explanation convenient enough for ya?

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See this is where I take issue with you... Peston didnt cause anything.

Firstly, it was the sh1tty management at Northern Rock and crappy government policies caused NR.

Peston just reported it.

Secondly, if the BBC (and the rest of the mainstream media) had their heads out of their a55es they would have spotted this problem years ago before it became an issue. But they didnt.

But they did:

[2003] Fears over mortgage 'timebomb': http://news.bbc.co.uk/1/hi/business/2788597.stm

The Great House Price Crash 2005? http://news.bbc.co.uk/1/hi/business/4314073.stm

...plus numerous documentaries on mortgage fraud etc.

...and whilst admittedly Peston may not have caused the run on the rock (bad wording on my part), he did his level best to trigger it. Something which would not have been 'allowed' if you believe the 1984-type rubbish you get on here sometimes. Some people disagree with your views on housing and the economy but that does not automatically mean they are in league with the devil... is the stuff you read on the BBC really that much different to the stuff you hear from average person you meet right now?

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I think this was the most bearish programme I've ever seen on BBC. I don't think I've seen headline news items that say 'mortgages are going down so house prices will have to follow'. I really don't think that connection has been broadcast to the sheeple before. They also pretty much stated what one poster said on here - 'House prices ARE the UK economy'.

The standard sheeple view was probably summed up by that, er, 'large' lady searching for flats who was moaning ''ow can I afford an 'ouse if I carn't get a mowwgige, eh?'

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On another note, I hear that Ballymore have cancelled the construction of one of their landmark towers in the Docklands...either the market has gone flat and/or the banks won't give them anymore cash...it's all getting very nasty very quickly. I wouldn't be surpirsed if we see monthly falls in the range of 2-3% in the coming months.

HiH - got a link?

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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