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Telegraph Print The Big One!

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I hope you are ready for this, because its F*cking awesome!!!!

We were RIGHT!

Britain is now in the midst of the worst housing slide since the Great Depression, economists declared after house price inflation dropped to the lowest level since comparable records began.

Britain is now in the midst of the worst housing slide since the Great Depression

Halifax figures show house prices have fallen by 8.7pc in the year to June

Figures from Halifax, the UK's biggest mortgage lender, showed house prices have fallen by 8.7pc in the year to June, confirming that the property crunch is more severe than the last housing crash in the early 1990s. Hours before, the Bank of England voted to leave rates unchanged at 5pc.

The Halifax figures - which showed prices dropped 2pc last month, following a 2.5pc slide in May - indicate that the scale of the crash now rivals the falls in UK home values in the 1930s. In the three months to June, house prices were 6.1pc lower than the comparable period last year - described by Halifax as the "annual change".

House prices have never fallen by more than 10pc over a year in recorded history, except in 1931, when Britain left the gold standard.

# Comment: Rising tide of bad debts will flood over banks

# More on property

David Owen of Dresdner Kleinwort said: "Back then, sterling had been ejected from the gold standard and the currency collapsed, and, although this helped exports, house prices collapsed. What we are seeing now has some parallels with then.

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"However, it is a very unreal situation because this is happening without there being a major recession, and we haven't seen distressed selling, nor a significant increase, yet, in unemployment."

The Bank of England reported recently that the number of mortgages being approved for housing purchases dropped to 42,000 in May - the lowest level since comparable records began in 1993 and down 64pc on the previous year.

Alex Vitillo, of Fathom Consulting, said that the downturn was already more severe than the early 1990s, where, according to figures from Nationwide, prices dropped by around 20pc over a number of years.

He said: "As the UK housing market downturn gathers pace, it is common for analysts to argue that this downturn will not be as bad as the early 1990s vintage. It looks like it will be worse, perhaps far worse.

"The decline is far greater and swifter than anything we saw in the early 1990s. Our modelling work suggests that nominal house prices could fall by another 15pc to 20pc from here," he said, adding that there was a risk of even greater falls.

Economists predicted that, with the economy slowing sharply, it may have to cut interest rates by the autumn. Former MPC member Charles Goodhart warned yesterday that with the economy looking "dire", Britain is now facing a recession.

Prof Goodhart, now at the London School of Economics, said: "Output is going to fall, unemployment is going to rise, possibly quite sharply. It's a horrible situation.

"The British economy is getting into quite a recession. I remember when the Queen had an 'annus horribilis,' and this is the annus horribilis for the MPC.

"The third quarter will show no growth, maybe even a marginal reduction in output," he said in an interview with Bloomberg Television. "I think it will last rather longer than is going to be comfortable. The situation looks dire."

Michael Saunders of Citigroup said: "The housing market is probably not even close to the bottom, and sizeable further declines in house prices are likely, not necessarily every month, in the rest of this year and in 2009. In turn, plenty more weakness lies ahead for the overall economy as well."

Get in!!!!

ooh, I like their piccy as well!!!cnhousing111b.gif

I might make it my avatar!!!

Edit : Naughty boy forgot Linky

Edited by mbga9pgf

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Guest Bart of Darkness
i think i need to buy that copy, show it , even to my lecturers that dismissed my theories.

Scan it in and turn it into a T-Shirt. Wear it with pride.

(I'd increase your personal insurance cover first mind.)

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Scan it in and turn it into a T-Shirt. Wear it with pride.

(I'd increase your personal insurance cover first mind.)

lecturer RAMPAGE students get caught in the middle, police suspect t shirt was the cause.

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The Telegraphs Consumer Affairs Correspondent doesn`t exactly strike me as been the sharpest tool in the box ;

http://www.telegraph.co.uk/money/main.jhtm...bcnhouse210.xml

`Q. When will the crisis end?

A. When banks and building societies start to offer reasonably-priced mortgages once again. No one knows when this will start to happen, but some mortgage experts think that rates may have hit a peak, with an increasing number of lenders starting to trim their rates. `

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Guest Bart of Darkness
Do you know any good places that will do this?

Well I've used these guys before

Printedclothing

I supplied them with a JPEG (300 dpi, actual size) and the end results were very good, decent quality T-shirt supplied as well. Lots of garment colour and graphic positioning choices.

They can put a graphic on all sorts of stuff, even underwear!

There might be 2 potential problems. (a) whether they would consider the newspaper page to be copyright (you may get away with this one I think) and (B) getting a decent quality scan. I've never scanned a newspaper page so I don't know how well it would turn out.

Once you've got your graphic you upload it to their site, decide on your garment/size/colour/positioning and let them do the rest.

There are those kits frpm PC World and the like that let you do it yourself with an inkjet and a hot iron, but I've never used them alas.

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But this is the British housing market! :lol:

Put some spin on that you Billy Bunter lookalike overpaid,underqualified chubby little tw@t.

Edit:couldn't get it off my chest quick enough.

Edited by the anti krust

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Thinking it could be The Gesticulator this morning on the Brown channel,

Those flying limbs will be going into overdrive, either way should be a nice start to the day.

What a lovely change from all that "your house could be earning more than you" bolox.

Happy days.

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You don't want that on a shirt, trust me, even if you are The Big One.

You are a better man than Bill, he refused splash out on a new dress fro Monica!

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Guest Mr Parry
I hope you are ready for this, because its F*cking awesome!!!!

We were RIGHT!

Get in!!!!

ooh, I like their piccy as well!!!cnhousing111b.gif

I might make it my avatar!!!

Edit : Naughty boy forgot Linky

Even if they fall 50% from peak they will still be (although mildly) OVERPRICED!

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That graph says it all. I think that's the best graphic I've seen illustrating the true extent of the current crash in an easy-to-understand format.

We've already crashed as far as we did in the late 80's, and there's a long way to go.

Edited by DementedTuna

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Guest KingCharles1st

ITS..OK..

GORDON SAYS....

HE....

HAS IT....

ALL UNDER CONTROL...........

....

....

SIGH....

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Do you know any good places that will do this?

Get a mug instead. I had my mine made by

http://www.tshirtstudio.com/site/custom-printed-Mug.asp

Pictures on both side (credit crunch and house of cliff pictures in my case) and text underneath (hpc web address).

I use it at the office all the time, put it on the table in meetings all the time.

VMR.

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That graph says it all. I think that's the best graphic I've seen illustrating the true extent of the current crash in an easy-to-understand format.

We've already crashed as far as we did in the late 80's, and there's a long way to go.

As much as i'm revelling in the collapse i'm starting to get worried about the long term implications for life in the UK. No good having my lovely house bought at the bottom of the market when outside its like Beirut in the 80's.

I showed my other half that graph, she described it as a death dive! Beautiful

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The Telegraphs Consumer Affairs Correspondent doesn`t exactly strike me as been the sharpest tool in the box ;

http://www.telegraph.co.uk/money/main.jhtm...bcnhouse210.xml

`Q. When will the crisis end?

A. When banks and building societies start to offer reasonably-priced mortgages once again. No one knows when this will start to happen, but some mortgage experts think that rates may have hit a peak, with an increasing number of lenders starting to trim their rates. `

What a F*CKING JERK!!!!!!!!!!

Well, well, well........... All that GROSS DISHONESTY -- all that FRAUD............... It's coming home to roost.............. Surprise surprise!!! [not]............

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House prices have never fallen by more than 10pc over a year in recorded history, except in 1931, when Britain left the gold standard.

# Comment: Rising tide of bad debts will flood over banks

# More on property

David Owen of Dresdner Kleinwort said: "Back then, sterling had been ejected from the gold standard and the currency collapsed, and, although this helped exports, house prices collapsed. What we are seeing now has some parallels with then.

Perhaps gold should be discussed again on the main forum if it is this relevant to the house price crash.

Edited by endgame

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Much as I like the graph, it doesn't seem accurate to me.

The fall may be steeper, but at the same time the previous crash properly peaked and fell in the same manner as today.

not as shown a year later.

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  • 395 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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