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It seems in the last five days the media has woken up and realised that everything is far from the rosie picture that Gordon has been painting. To be honest I think we could be only weeks away from some major fireworks... when economists say 'no need to panic' then you probably should do....

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It seems in the last five days the media has woken up and realised that everything is far from the rosie picture that Gordon has been painting. To be honest I think we could be only weeks away from some major fireworks...  when economists say 'no need to panic' then you probably should do....

When people start saying stuff like this

"Retailers are facing the most difficult set of trading conditions in living memory," said Kevin Hawkins, the director-general of the BRC.

and

"Every single piece of evidence is pointing towards a tectonic shift in retail and consumer spending over the past four months. There has been a massive slowdown," said Simon Proctor, a retail analyst at Charles Stanley, the stockbroker.

you've gotta wonder.

japhy

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You'll like this one even Estate Agent Magazines are getting worried

(Membership needed!)

http://www.marketwatch.com/news/archivedSt...D%26minisite%3D

REAL ESTATE WEEKLY

THIS WEEK'S REAL ESTATE STORIES

By MarketWatch

Last Update: 12:20 PM ET May 6, 2005

The body of evidence is growing that something is about to trip up the housing market. Whether it's the proliferation of adjustable-rate and interest-only mortgages or the continued skyrocketing of prices on the coasts, more analysts are expressing caution any time a housing topic comes up.

If things do go up in smoke, you won't be able to blame the average home buyer or seller. It turns out, those folks aren't the speculative creatures that so many would make them out to be....

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Well done to Bullish Bear for posting all of those articles in the Blog. Now that the Election is out of the way it's as if the floodgates have opened.

Will be very interested to see what happens. I reckon that a few well known high-street names could go under.

Personally I'm hoping that we'll see the end of Dixons chain and their extended warranty rip-offs that they've been milking for years.

Come to think of it any of the DSG Group stores which overprice their goods and pay their staff peanuts.

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Full body below. Its a US article where the boom has in part been created by two nearly created products (the variable rate mortgage and the initially interest only mortgage). Do either of those products sound familar?

If things do go up in smoke, you won't be able to blame the average home buyer or seller. It turns out, those folks aren't the speculative creatures that so many would make them out to be.

According to research conducted by Hebert Research for HouseValues Inc. (SOLD: news, chart, profile) , "buyers and sellers collect home-related experiences for up to four years" before they enter a real estate transaction. Even once they get serious, consumers are still typically many months away from closing a deal.

According to the survey, sellers take an average of 9.3 months from the time they begin actively thinking about a sale until the close date. Home buyers, meanwhile, spend nearly a year and a half -- 16.7 months -- thinking about purchasing a home before they actually buy.

First-time buyers are even more deliberate: They invest an average of 20.5 months in the entire home-buying process.

"The Internet is enabling consumers to research and gather information well in advance of actually buying or selling," said Ian Morris, chief executive officer of HouseValues.

Forty-four percent of buyers take more than six months thinking about desirable homes and neighborhoods before actually searching for listings. The average buyer then spends more than four months searching for homes.

That's not the kind of behavior that one finds from speculative investors who simply pile into the "next best thing."

But there is one area where buyers and sellers throw caution to the wind: selecting a real estate agent once they do decide to buy or sell. Sellers took an average of just one day to pick an agent; buyers acted within three days.

That may not qualify as a bubble, but with the thousands of dollars in commissions and fees that are on the line in any housing transaction, it sure qualifies as bubble-headed.

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Well done to Bullish Bear for posting all of those articles in the Blog.  Now that the Election is out of the way it's as if the floodgates have opened.

Will be very interested to see what happens.  I reckon that a few well known high-street names could go under.

Personally I'm hoping that we'll see the end of Dixons chain and their extended warranty rip-offs that they've been milking for years. 

Come to think of it any of the DSG Group stores which overprice their goods and pay their staff peanuts.

I'd love to see Dixons go under. I hate the whole group with a passion.

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Anyone see the BBC news this morning from about 6:45am, and again at 7:50am.

Doom and gloom about rising debt, record level of debts, rising oil prices, rising cost of consumer goods, falling house prises and directly quoting "retailing looks very, very very ropey"

Maybe its a conspiracy, where the vested interests have already made their money from property are EAGER to make more money from the next housing cycle. They are EAGER for houseprises to fall........... the worm has turned. :ph34r::rolleyes:

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Anyone see the BBC news this morning from about 6:45am, and again at 7:50am.

Doom and gloom about rising debt, record level of debts, rising oil prices, rising cost of consumer goods, falling house prises and directly quoting "retailing looks very, very very ropey"

Maybe its a conspiracy, where the vested interests have already made their money from property are EAGER to make more money from the next housing cycle. They are EAGER for houseprises to fall........... the worm has turned. :ph34r:  :rolleyes:

It is not a conspiracy.It is the truth.

The government exerted restraint on all "bad news" to only disclose after the election...as confirmed with the dti and marconi

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With the telephone bill, electricity, water and sewage bills comming through the letter box all within the last two weeks - it must quite painful for a lot of people lately. Ouch.

Dont wake me up, its all a nightmare......

Edited by trev
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I'd love to see Dixons go under. I hate the whole group with a passion.

Me too, I once had to take Dixons to the Small Claims Court just to get them to fix a PC under guarantee.

Also in the 1970's they bought out a company my stepfather worked for promising "Absolutely no redundancies" - six months later they closed the place and made everyone redundant.

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Guest prudence
When people start saying stuff like this

"Retailers are facing the most difficult set of trading conditions in living memory," said Kevin Hawkins, the director-general of the BRC.

and

"Every single piece of evidence is pointing towards a tectonic shift in retail and consumer spending over the past four months. There has been a massive slowdown," said Simon Proctor, a retail analyst at Charles Stanley, the stockbroker.

you've gotta wonder.

japhy

The BRC are going to lay it on thick. They have a "vested interest" in wanting IRs to be as low as possible..............

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Me too, I once had to take Dixons to the Small Claims Court just to get them to fix a PC under guarantee.

Also in the 1970's they bought out a company my stepfather worked for promising "Absolutely no redundancies" - six months later they closed the place and made everyone redundant.

They're a joke. Many years ago three of us went to one cos a friend of mine had bought a minidisk player from them which turned out to be defective. It took somewhere in the region of 40 minutes of arguing with the berk behind the counter to get a refund, during which me and my other friend were simply wandering around the store bored. The other shop assistants did seem a bit edgy, but it wasn't until we finally left the store that the guy getting the refund said "Didn't you notice the shop assistants?" Apparently because we were loitering for so long, they had become convinced we were about to nick something and were hopping around the store making absolutely sure that at least one of them had an eye on us at all times. Muppets.

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Anyone else notice the lack of "what will be the trigger" and "when will the crash start" posts on HPC these days?

The simple explanation is that it HAS started.

Just think back to how you felt about the whole HPC / economy thing 3 months ago. What the news was, what people were saying and doing. It think that most will agree that there has been a noticeable change since aroung the beginning of March and that trend is accelerating.

There was no "trigger" needed. It just got to the point where it happened by itself. The "trigger", if it were possible to pinpoint the exact day (which of course it is not, but anyway) was probably something as simple as a cold day or it being a Monday. In other words, there was no trigger. It just started to fall over as these things usually do.

Edited by Smurf1976
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Well done to Bullish Bear for posting all of those articles in the Blog.  Now that the Election is out of the way it's as if the floodgates have opened.

Will be very interested to see what happens.  I reckon that a few well known high-street names could go under.

Personally I'm hoping that we'll see the end of Dixons chain and their extended warranty rip-offs that they've been milking for years. 

Come to think of it any of the DSG Group stores which overprice their goods and pay their staff peanuts.

Well - HERE WE ARE!!! -- I have been banging on on this site for over 9 months about how this whole merry-go-round system of the UK "economy" is a pile of pants...... [as is too the US]; How incredible to see how the media is only NOW telling the REAL story -- [see all things in the window top left!! ] I saw this coming over 2 years ago - when it was costing me £1000 pm t[after tax] to rent a tiny office and a tiny bedroom in London......... Itold all my friends the world was going mad -- and it would all end in tears. They told me to go tohell............. Where we're all going now!............

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It seems in the last five days the media has woken up and realised that everything is far from the rosie picture that Gordon has been painting. To be honest I think we could be only weeks away from some major fireworks...  when economists say 'no need to panic' then you probably should do....

Funny that, seeing as it's always just before a MPC meeting

Are we going to get this every month in the week leading up to the MPC meeting

Please Mr King, please don't raise the rate, look we're not doing as well anymore, we need to keep consumers in debt to meet our profit targets

:ph34r:

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The BRC are going to lay it on thick.  They have a "vested interest" in wanting IRs to be as low as possible..............

It's part of the coordinated attack from the Interest Rate and Mortgage Whingers. A global phenomenon as well, as reported in the Australian article below :-

Hangover awaits after years of extravagance

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  • 439 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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