Jump to content
House Price Crash Forum
Sign in to follow this  
jonpo

Blowing Up The Housing Bubble

Recommended Posts

What Bill thinks is that the federal government should buy 1 million homes and then blow them up... that way no one can live in them! if he can't make a profit on his billions of dollars of mortgages he will be damned if anyone is going to live in cheap houses...

I can see why he's called Gross. It makes me feel sullied just reading his words.

Share this post


Link to post
Share on other sites
http://business.smh.com.au/business/banks-...ksi.html?page=1

What Bill thinks is that the federal government should buy 1 million homes and then blow them up... that way no one can live in them! if he can't make a profit on his billions of dollars of mortgages he will be damned if anyone is going to live in cheap houses...

Very similar to their solution for falling food prices in the great depression. Buy it all up and dump it at sea!

People starved but the economy was.... not saved!.

Market said NO.

Share this post


Link to post
Share on other sites
http://business.smh.com.au/business/banks-...ksi.html?page=1

What Bill thinks is that the federal government should buy 1 million homes and then blow them up... that way no one can live in them! if he can't make a profit on his billions of dollars of mortgages he will be damned if anyone is going to live in cheap houses...

It's not him making that suggestion!

I'd recommend reading his investment outlooks to anyone:

Mooooo!

Share this post


Link to post
Share on other sites
Ok but its one of the 'wisest guys he knows' gezz I had respect for the guy before this but. how will society as a whole benefit from turning a productive asset (housing) into an unproductive one... rubble... its moronic. its like burning banknotes or sinking ships or burning food its just dumb.

I don't read it as being meant to be a serious suggestion.

The deeper argument he has been on about for the last few months is that if deflation is not checked somehow then the economic consequences would be absolutely devastating.

We're all excited about a 10% property drop in the UK and think it's fun to see this overvalued property market collapsing (at least it is for me).

What is not clear yet is what would happen if deleveraging, which has barely started, was to continue unchecked and uncontrolled for a while. It would be a repeat of 1929, squared, and I am quite sure very few of us on this site would like its consequences.

Being a few miles ahead of the crowd as he has been since the start of this crisis, he has already seen and discounted this outcome and speculates on what the authorities could do / might do to prevent it. Even though he does not consider it as a serious solution, destroying a million houses could be one of the cheapest and most effective solutions to the problem.

Share this post


Link to post
Share on other sites
It's not him making that suggestion!

I'd recommend reading his investment outlooks to anyone:

Mooooo!

Ok but its one of the 'wisest guys he knows' gezz I had respect for the guy before this but. how will society as a whole benefit from turning a productive asset (housing) into an unproductive one... rubble... its moronic. its like burning banknotes or sinking ships or burning food its just dumb.

Share this post


Link to post
Share on other sites
Ok but its one of the 'wisest guys he knows' gezz I had respect for the guy before this but. how will society as a whole benefit from turning a productive asset (housing) into an unproductive one... rubble... its moronic. its like burning banknotes or sinking ships or burning food its just dumb.

That's what happens when you confuse the tokens meant to represent value as a

medium for exchange for the value itself.

.

ST

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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 401 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%



×
×
  • 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.