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What A Mess !

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I watched CH4 news this evening. It seems that they give a reasonably honest view on what`s going on in the world. "Our man" Vince Cable was interviewed, they discussed the pros and cons of delaying payment of stamp duty on house sales. Vince spoke a lot of sense, as usual. He suggested that the property market should be just left to sort itself out.

Earlier, they reported on the £3,000,000,000 "investment" by the tax payer into Northern Rock. They also spoke to an 125% LTV victim. At this point, I was "building up steam".

What a f***ing mess we are in. How easy it would have been to avoid it ? History has shown that, on average, lending should be restricted to around 3.5 - 4 x salary. Any deviation from that ratio has always ended up in trouble. A little "guidance" in the last 7 years, I reckon we`d be in much less trouble. Now, the government decide they want to step in and take action. Why did they not take action 4 years ago ? Simple, to win votes. Since I`ve drawn breath, every government has done the same, bought the vote. I`ll say now, that on recent performance, Vince Cable has bought my vote, he`s the only politician that I can relate to. I think I have learned enough about finance, especially through info gained from this forum, to realise that he is an MP who actually talks sense.

Let`s just sit back, and watch how AD and GB try to "fix" the market. It`s going to get worse, that`s what I think.

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Guest Shedfish

The Northern Rock 'Together' Mortgage -

whether we like it or not, all 60 million of us

difficult times... and we get Laurel & Hardy

*kin hilarious :lol:

Stephen Fry for PM

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  • 396 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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