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Housing Market Is Key To Uk Beating Financial Crisis

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Guest The_Oldie

http://www.express.co.uk/ourcomments/view/...inancial-crisis

IN these days of global financial interdependence no nation can make itself immune from the effects of a major economy suffering a shock to the system.

Those who dismissed the US sub-prime mortgage crisis as a little local difficulty have been proved definitively wrong.

Yesterday’s falls in stock markets across the world demonstrated that. But that does not mean Britain is doomed

to follow America into recession.

Despite being overburdened with tax and regulation our economy has shown itself to be remarkably resilient.

The key to seeing Britain through choppy economic waters is to bolster confidence in the property market. This will in turn help to sustain consumer demand and therefore keep jobs safe.

So the key challenge for the Government is to protect the millions of owner-occupiers whose mortgages come up for renewal this year from the threat of massive rises in their repayments.

Gordon Brown yesterday told the Commons that “whatever action is necessary” will be taken to ensure economic stability.

Yesterday the Bank of England pumped £5billion into money markets to combat the credit crunch but the offer was almost five times over subscribed – a sure sign that still more liquidity is required. Further interest rate cuts can also play an important role in staving off a housing market collapse.

Mr Brown has frequently boasted of his record while Chancellor but anyone can bask in reflected glory while the global economy is on a roll.

A more pertinent question is whether he can show decisiveness and good judgment when the going gets tough.

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The key to seeing Britain through choppy economic waters is to bolster confidence in the property market. This will in turn help to sustain consumer demand and therefore keep jobs safe.

So the key challenge for the Government is to protect the millions of owner-occupiers whose mortgages come up for renewal this year from the threat of massive rises in their repayments.

Oh, I seeeee! Silly old us and we thought it was a difficult problem to solve.

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Yesterday the Bank of England pumped £5billion into money markets to combat the credit crunch but the offer was almost five times over subscribed – a sure sign that still more liquidity is required. Further interest rate cuts can also play an important role in staving off a housing market collapse.

Yes - because massive liquidity injections and slashing the cost of central bank credit have been soooo succesful in preventing the US housing market from crashing. Better get us some of that! :rolleyes:

Anyway, I thought it was a lack of supply that was causing our high house prices? Are they telling us it was actually just cheap money that was keeping prices going up? Gosh!

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172163722_90f67bd525.jpg

Above: The great wall built in 2008 to protect the UK housing market from global forces. Note: Look-out tower to warn UK fighters to shoot down planes carrying subprime citizens.

Well surely the answer is to erect a 60ft wall around the British Isles, sever communications with the outside world, and initiate a no-fly zone. No one in or out for 5 years. Ban imports and exports, and stop the £ trading with other currencies. Immigrants comming to the UK to work or to bum around are exempt of course to keep "demand" up. That would protect the UK houseprices.

Another idea is to have compulsory addition to pay deductions called "National Insurance 2" which is 55% of you PAYE packet. This automatically goes into buying property for your pension incase "National Insurance 1" fails.

:blink:

Edited by notanewmember

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"So the key challenge for the Government is to protect the millions of owner-occupiers whose mortgages come up for renewal this year from the threat of massive rises in their repayments.

Gordon Brown yesterday told the Commons that “whatever action is necessary” will be taken to ensure economic stability.

== = = = = = = = = = =

The key challenge for the Government is to protect the millions of owner-occupiers who borrowed wayyyyyy beyond their means from the threat of

actually paying the money back.

Gordon Brown, who can no longer control the situation by influencing the MPC, will now influence the BoE to print more and more and more money,

because these are the only two "whatever actions" actually open to him.

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Guest pioneer31

Advice from a newspaper that knows as much about Economics as Paul Gadd does about hard disk formatting.

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Guest AuntJess
"So the key challenge for the Government is to protect the millions of owner-occupiers whose mortgages come up for renewal this year from the threat of massive rises in their repayments.

Gordon Brown yesterday told the Commons that "whatever action is necessary" will be taken to ensure economic stability.

== = = = = = = = = = =

The key challenge for the Government is to protect the millions of owner-occupiers who borrowed wayyyyyy beyond their means from the threat of

actually paying the money back.

Gordon Brown, who can no longer control the situation by influencing the MPC, will now influence the BoE to print more and more and more money,

because these are the only two "whatever actions" actually open to him.

Just so long as he does not annex my savings capital, to save risky borrowers from their own foolishness....that really would be robbing Peter to pay Paul, and would yet again be showing how this Nulab. regime rewards stupidity and punishes thrift.

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So it's confirmed. The editors of the Express are greedy c***s who, despite having raked in colossal amounts of money when the market was going up, now want the government to intervene to keep the money coming in, and locking hard-working people out of home ownership for ever.

Anyone who reads the Express should be shot on sight. There. I've said it.

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Guest AuntJess
So it's confirmed. The editors of the Express are greedy c***s who, despite having raked in colossal amounts of money when the market was going up, now want the government to intervene to keep the money coming in, and locking hard-working people out of home ownership for ever.

Anyone who reads the Express should be shot on sight. There. I've said it.

Nah! Anyone BUYING the Express should be shot on sight. After all we need to keep informed about these views, without actually funding them. Read it in the local library. ;)

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The key to seeing Britain through choppy economic waters is to bolster confidence in the property market. This will in turn help to sustain consumer demand and therefore keep jobs safe.

I thought that the Bank of England had failed to establish a clear link between Mortgage Equity Withdrawals and consumer demand. The Express obviously haven't read the same story.

p

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No doubt they will attempt to drive rates lower.

When this has failed, I imagine Stalin will then attempt some form of govt. "subsidy" for certain existing borrowers to peg their repayments.

I've no idea what form this might take but there is no doubt in my mind he is going to attempt to use taxpayers money to do this. I hope that is the point at which he is dragged from No. 10 screaming and kicking and **** **** *** ******* ********. (I can't print that, since I suspect it will fall foul of NULAB thought crime laws).

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Wait until it becomes blatantly obvious that the sub prime market in the UK is just as big if not bigger than the US. i say BLATANTLY because they obviously have their heads shoved up their ar*ses.

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Wait until it becomes blatantly obvious that the sub prime market in the UK is just as big if not bigger than the US. i say BLATANTLY because they obviously have their heads shoved up their ar*ses.

EXACTLY!!! :P:lol::P

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"The key to seeing Britain through choppy economic waters is to bolster confidence in the property market carry on with the LIAR LOANS!! This will in turn help to sustain consumer demand and therefore keep jobs safe.

So the key challenge for the Government is to protect the millions of owner-occupiers whose mortgages come up for renewal this year from the threat of massive rises in their repayments, by urging even MORE and more people to lie about their incomes and pretend they earn £65k pa when they actually earn £27k pa. i.e. Just keep the pyramid selling scam fueled with LIAR LOANS: SO - keep everything going just as it has for the last 10 years of Nu Labour."

Edited by eric pebble

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Guest KingCharles1st

We all just need to get in our white vans and busily whizz about all over the place for a few months- and the great undefeatable British public will have saved the day!

SORTED

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When will the media realise that what we need is a 66% reduction in house prices in order to create a sustainble economy.

HPI has been a pyramid scam that has required people to keep getting on the bottom rung. Only now we've run out of people who can get on the bottom rung. And that was always going to be the case. They've kept it going for as long as they could through immigration and turning a blind eye to the liar loans.

I genuinely believe the politicians thought the bank had setup a system that would allow for a soft landing. HAHAHAHAHAHA!

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Gordon Brown yesterday told the Commons that “whatever action is necessary” will be taken to ensure economic stability.

hes basically saying, the overblown housing market and the continuation of overblown payments into it, IS the economy.

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[photo deleted]

Well surely the answer is to erect a 60ft wall around the British Isles, sever communications with the outside world, and initiate a no-fly zone. No one in or out for 5 years. Ban imports and exports, and stop the £ trading with other currencies.

:) nice post!

I plan to sit in the cupboard under the stairs and chant:

"my house is getting richer, richer, richer"

until bedtime

(someones got to get the country back on it's feet!)

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Guest AuntJess
No doubt they will attempt to drive rates lower.

When this has failed, I imagine Stalin will then attempt some form of govt. "subsidy" for certain existing borrowers to peg their repayments.

I've no idea what form this might take but there is no doubt in my mind he is going to attempt to use taxpayers money to do this. I hope that is the point at which he is dragged from No. 10 screaming and kicking and **** **** *** ******* ********. (I can't print that, since I suspect it will fall foul of NULAB thought crime laws).

My fertile imagination has just filled in your 'gaps' and I am volunteering for the job of doing what needs to be done...to Gordon. I think I'll find myself in a very long queue. :ph34r:

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Nah! Anyone BUYING the Express should be shot on sight. After all we need to keep informed about these views, without actually funding them. Read it in the local library. ;)

The Librarians should be shot.

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Gordon Brown yesterday told the Commons that “whatever action is necessary” will be taken to ensure economic stability.

hes basically saying, the overblown housing market and the continuation of overblown payments into it, IS the economy.

Whatever action necessary???

No one will need to make any debt repayments because Gordon will nationalise it all. All 4 trillion of it. Everyone will be rich. House prices will keep rising because you can borrow any amount of money so long as you can write it on piece of A4 and the government will underwrite the repayments.

I know **** all about economics, but I think this would probably then be a perfect opportunity for us to join the Euro.

I also know *** all about foreign policy but around this time it might be an idea if we carried out a few "tests" of our nuclear arsenal somewhere over the North Sea, coordinated with a few "exercises" of our armoured division stationed here in Germany.

I think it could work.

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  • 295 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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