Tuesday, February 12, 2008

Up up and away in my beautiful balloon

Rising inflation dampens hopes for further interest rate cuts in 2008

Figures from the Office for National Statistics today show that consumer prices index (CPI) annual inflation - the Government's target measure - was 2.2 per cent in January, up from 2.1 per cent in December... The largest upward pressure came from an increase in the price of road fuels. Average petrol prices rose by 1.3p in January to stand at 103.9p per litre, compared with a fall of 0.8p a year ago. There was also a large upward effect from food, particularly fruit, such as grapes and grapefruit, where prices fell by less than last year. There was a further large upward contribution from furniture where, overall, price reductions in the January sales were less than in the previous year.

Posted by converted lurker @ 12:04 PM (1080 views)
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12 thoughts on “Up up and away in my beautiful balloon

  • How long are you guys prepared to sit around being bitter??? What will you do when they do crash? All that bitterness isnt going anywhere.. suppose you can find other assets classes to moan about! I suggest you all get a life, the bitterness will eat away at you and you’ll be at its mercy! Either stop caring about house prices or move! Moaning like a bunch of women doesnt really achieve much does it now?????? The way I see it is you have greedy/stupid idiots on one side and bitter/stupid idiots on the other… The only difference is when the person in question entered the market. How many of you can put your hand on your heart and say you wouldnt have bought into this 10 years ago??? None!!! BTW I dont have a property! Just sick to death of the circus on both sides!!

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  • pecker. You’re point isn’t so far off. There’s no point us castigating people for doing what i’m sure we would have done ourselves 10 years ago. It’s only a few on this site that do. Most people on here are far more thought out than that, and actually I am frequently surprised by some of the logical arguments here. often supported by evidence and rational reason

    I agree, the bitter whiners do come across as just and it does wear thin with me – but they are in a serious minority compared to the ‘screw them all’ mentality of many in the ‘greedy’ camp as you say. I’d say the driving force behind many here is ‘just because we didn’t buy 10 year ago doesn’t mean we have no right to affordable housing’ – most of us, definitely me, just want to buy a reasonable place to live for a price with a mortgage that’s somewhere near 4 times my salary. Nowt wrong with that is there?

    I really think our viewpoint is less of a circus and based more on history and underpinning factors than the pure greed associated with the ‘other’ side

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  • “How many of you can put your hand on your heart and say you wouldnt have bought into this 10 years ago???”

    Me (my hand is on my heart right now too).

    I was too young to buy a house.

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  • Pecker what is your problem? I seem to have missed the point here. The comments from which accompany the news article aren’t bitter, they are straightforward and factual.

    Is your comment just a general swipe at the people who read news articles posted on this site? If so, I think you are the one who needs to get a life.

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  • pecker,

    Some of us never had the chance to get on the ladder and there are millions of young people priced out. Call me bitter if you like. I’m just hoping to get a chance of a modest property at a sensible multiple of my income.

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  • Moaning like a bunch of women doesnt really achieve much does it now?????? –

    I almost agreed with your sentiment, until you decided to put this piece of sexist diatribe in. It appears that you do not sit on all the fences, just the ones which makes you feel superior. It is, as always wonderful to have new and insightful comments posted on this site and many, as has been said before, add a new viewpoint to this discussion, so welcome and I am sure I speak for all the bloggers we look forward to your next posting.

    I wholeheartedly agree with everything theboltonfury wrote

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  • larry pickleman says:

    I’m guessing Pecker’s just been turned down for a mortgage! 😉

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  • I was training to be an accountant on between 13k and 17k from 2001 to 2006. I couldnt buy a house then and I cant now! Ive been bitter about it and read all the articles comments on here which surprise surprise made me more bitter. But i’ve given up now, its not admitting defeat is simply realising that there is more to life than obsessing about house prices. This “Crash” will probably not be very quick, and if anything like in Japan it may be 10 years plus.. I for one dont want to be thinking/fretting about it for any longer. This site no longer serves any purpose, are we at the beginning of a correction? Almost certainly! Is there anything else to say/think about?? Not really!

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  • theboltonfury says:

    again, fair point but again, i suspect it’s the real minority that obsess about house prices. Most will be simply keeping an eye on them and sharing information that come from the world’s media. It’s not any different from other forums devoted to PS3 games, fast cars – it’s just a place to go to seek out hopefully ‘informed’ opinion on a subject that interests you with a community with (sometimes) a shared interest. It’s nothing more than that for me – even if house prices double in the next year I won’t see it as my Holy Grail has been lost

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  • C'mon Correction says:

    Pecker – I’ll be getting married soon, I want to raise a family and buy a home to call my own. That’s it.

    And mate, I’m not bitter, house prices are falling and within a few years I should be able to buy at an affordable price. This is good news surely? Or do you think young hard-working people don’t have a right to buy a home? I really don’t get your point here.

    I don’t think this site is for you.

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  • Peckers not “bitter” about house prices just career choices. Bean counter – they don’t really care if a company makes a profit or loss only that it can be accounted for in some excel spreadsheet :(. Only in this house price obsessed country would occupations such as lawyers, accountants and stock brokers be paid so much for doing so little. Lets all go on pretending how rich we are – made up house prices – whilst the developing world values careers of real worth. 50 years time it will be the great british people who are placing resistors on circuit boards for chinese toys. I’m not bitter!!!

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  • Pecker, calm down,calm down.
    I dont think bloggers on this site are obsessive.I work full time running a small business yet i find the time to have a look every other day at the latest news on HPC. Some of the news posted by Ivmreader and techiman and others i would have never found myself and are really interesting.This website is also like a safe haven, away from most of the people you meet in your life who are either clueless about whats going on or are blissfully unaware whats going to happen next.The other amusing element to this site is when a “Greenbay” arrives and starts spouting off rubbish its such a joy to see how easily their arguments are dismantled.I love it.
    Keep your pecker up

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