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Be Careful What You Wish For!


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If the housing market collapses it'll take down the rest of the economy with it...Do you realise, for example that in recent years 7% of spending in Britain is due to Mortgage equity withdrawal and this MEWing has deferred the downturn in the business cycle...

The banks who started drawing in their horns have now created a vicious cycle of decreasing house prices and decreasing will to lend........

I wish a house price crash could exist in isolation but it can't!

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If the housing market collapses it'll take down the rest of the economy with it...Do you realise, for example that in recent years 7% of spending in Britain is due to Mortgage equity withdrawal and this MEWing has deferred the downturn in the business cycle...

The banks who started drawing in their horns have now created a vicious cycle of decreasing house prices and decreasing will to lend........

I wish a house price crash could exist in isolation but it can't!

Thanks for the warning,but we've pretty much done to death what will be expected with the onset of this crash.

1)weeping and wailing by homeowners

2)reduced consumer spending

3)job losses from companies suffering reduced revenue

4)increased criminality as joblessness bites

5)increased police powers to deal with criminality increase

6)another war/act of terrorism to divert attention away from the collapse

7)anti immigration and race riots just like brixton and toxteth...but much bigger this time

on the plus side,we'll get better music.If it's a really good recession we might have a new social movement like the hippies or the ravers were.

.No more re-runs of the spice girls...it'll be PROPER STUFF!!!!...which will of course be resisted by the authorities as it is socially rebellious(which it isn't it's a social safety valve)

Edited by oracle
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Guest Bart of Darkness

We (HPC) couldn't affect the market on the way up, nor can we do so on the way down.

We do have the advantage over most people in that we know what's coming.

Other than that, we're just passengers on this crazy ride.

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Guest barebear
If the housing market collapses it'll take down the rest of the economy with it...Do you realise, for example that in recent years 7% of spending in Britain is due to Mortgage equity withdrawal and this MEWing has deferred the downturn in the business cycle...

The banks who started drawing in their horns have now created a vicious cycle of decreasing house prices and decreasing will to lend........

I wish a house price crash could exist in isolation but it can't!

Lets just have it right whatever the consequences, all Mew is is fake money fueling a fake boom. But as so often has been said debt is real and its time to pay the piper.

So bring a recession on with all of its heartache,job losses,crime,divorces.At least it will be real and will certainly give the youngsters a chance in the future if we do have a massive HPC.

Edited by barebear
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If the housing market collapses it'll take down the rest of the economy with it...Do you realise, for example that in recent years 7% of spending in Britain is due to Mortgage equity withdrawal and this MEWing has deferred the downturn in the business cycle...

The banks who started drawing in their horns have now created a vicious cycle of decreasing house prices and decreasing will to lend........

I wish a house price crash could exist in isolation but it can't!

I'm sorry but I definitely want the big one. Of course it will be painful, but it will be like an Australian bush fire. It will devastate vested interests but it will create a healthier more fertile landscape in the end.

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"Be careful what you wish for!!" : the latest angry sideswipe from the average homeowner/BTLer

We had no effect on the market on the way up, and we will have none on the way down, but they can go ahead and be angry at us if it makes them feel better in the ensuing carnage

What I wish for won't make one iota of difference

Edited by Nick-
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6)another war/act of terrorism to divert attention away from the collapse

Nothing like a good old fashioned shooting war to deal with an economic crisis. It'll boost manufacturing and employment, assuming we can still remember how to build a tank. Give something those hoards of employed chavs to do too. Sadly, some idiot invented nuclear weapons so we can't have a proper war anymore, just in case you know what happens.

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Guest barebear

Nothing like a good old fashioned shooting war to deal with an economic crisis. It'll boost manufacturing and employment, assuming we can still remember how to build a tank. Give something those hoards of employed chavs to do too. Sadly, some idiot invented nuclear weapons so we can't have a proper war anymore, just in case you know what happen

Did you ever see Rollerball where instead of nuclear war governments fought it out to the death in a game of Rollerball.

Futhermore I think our politicians should live eat and breath the policies they impose on us. The PM should have a good wage and benefits equivalent to an MD of a large company but thats it.If that company fails hes either sacked or loses money.

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Nothing like a good old fashioned shooting war to deal with an economic crisis. It'll boost manufacturing and employment, assuming we can still remember how to build a tank. Give something those hoards of employed chavs to do too. Sadly, some idiot invented nuclear weapons so we can't have a proper war anymore, just in case you know what happens.

oh but of course we are so dead against the spread and or deployment of nukes that we'll send the conscripted chavs into the meat-grinder for a year or two......and THEN use nukes.

we just need a sufficient bogeyman to rid ourselves of a nasty blight on our benefits system(not the muslims with 4 wives and 10 kids on welfare...the chavs spooning the welfare money on booze and dope)

hey presto...a bit of nationalism to make uncle enoch proud.

.....job done,defecit sorted....and grabbed some resources to boot.

come on,war is very profitable if it's prolonged.....we could have settled most of the middle east in about 20 minutes if we were just after the oil....5 years later we're still there.

Edited by oracle
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If the housing market collapses it'll take down the rest of the economy with it...Do you realise, for example that in recent years 7% of spending in Britain is due to Mortgage equity withdrawal and this MEWing has deferred the downturn in the business cycle...

The banks who started drawing in their horns have now created a vicious cycle of decreasing house prices and decreasing will to lend........

I wish a house price crash could exist in isolation but it can't!

It's called the economic cycle. Comes round every few years in case you hadn't noticed ;) You didn't really believe Gordo had abolished boom and bust did you?

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Guest mattsta1964
If only the government had done their job and not let it run out of control...

The people get the government they deserve

I say that with the caviat that if we had maintained a decent education system in the UK, people might not have been taken for a ride so easily.

Nobody is blameless in this mess

If people had an ounce of common sense, they would have realized the credit boom was just a giant shell game years ago.

But the government and the banks have behaved disgracefully too

I confidently predict that the consequences of the last 10 years will not be forgotten so easily this time

The reason why the German economy has consistently ridden out these storms, including the huge cost of reunification is because their forefathers experienced the consequences of hyperinflation and of Nazism.

I fear the coming bankruptcy of the UK and the USA will be similarly destructive and chaotic for all the people in the world.

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If the housing market collapses it'll take down the rest of the economy with it...Do you realise, for example that in recent years 7% of spending in Britain is due to Mortgage equity withdrawal and this MEWing has deferred the downturn in the business cycle...

The banks who started drawing in their horns have now created a vicious cycle of decreasing house prices and decreasing will to lend........

I wish a house price crash could exist in isolation but it can't!

I didn't wish for it. I tried to stop it in 05 (well saw it coming and hoped 'they' would stop it). Now it's here - enjoy it 'cos it's all there'll be left to enjoy.

Apart from watching Dominic the bald burglar from the telly being arrested for house-breaking again.

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If the housing market collapses it'll take down the rest of the economy with it...

I wish a house price crash could exist in isolation but it can't!

No sh!t Sherlock.

That's simply not a good enough reason for perpetuating this debt-fuelled fraudulent prosperity; nor does it justify shafting a vast swathe of the population who have been unable to buy in recent years, and future generations who would never be able to afford a home. Ultimately the boom was undermining society on so many levels.

Sh!t happens - it's just happening to somebody else now.

TD

Edited to add: BTW I'm not a VI, not an embitted 'priced-out' but I am sick of seeing the way our greed-society has been going. I'm looking forward to the calm after the storm - give it 4 years.

Edited by The Dragon
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As I mentioned in a thread the other night, as 60% of our money supply is derived from mortgage debt, any reduction in lending is going to mean that money becomes increasingly tight. The reson why many people on this site aren't home owners is because we saw this coming a mile off and wondered how we'd cope if banks reduced lending, mortgage rates rose and we were made redundant.

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If the housing market collapses it'll take down the rest of the economy with it...Do you realise, for example that in recent years 7% of spending in Britain is due to Mortgage equity withdrawal and this MEWing has deferred the downturn in the business cycle...The banks who started drawing in their horns have now created a vicious cycle of decreasing house prices and decreasing will to lend........

I wish a house price crash could exist in isolation but it can't!

Do you realise that falling house prices will not take down the economy. falling house prices will simply expose the economy for what it really is, and that is very, very small!

Consumer spending has nothing to do with anything. The economy is about creating consumer goods and creating the ability to produce even more consumer goods by investing any savings created. We aren't producing any savings, in fact we are savings negative. When the credit dries up, we will only have our real domestic produce to consume / barter for foreign produce. That is scary, but it is fact.

There will be short term unemployment, but, provided the government doesn't screw things up more, labour rates will collapse and we will begin a gigantic export led boom - a real economy once again, like china is right now. Just pray the politicians see sense.

Edited by Far Out Bear
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