Look out for the crash !!

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mistermack
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Look out for the crash !!

Post by mistermack » Tue Jul 22, 2014 11:44 am

It came out quietly, but property prices fell last reported period by 0.6%.
This is the first reported fall for ages. Prices have been shooting up crazily, and now the bubble could be about to burst. If it does, a year before the election, the Tories and Liberals are toast.

Daily Mail wrote: House prices could fall by as much as 30 per cent over the next four years, it is predicted today.
That could wipe out all the increases brought by the buying boom since April last year.
The thousands of buyers currently risking 100 per cent mortgages and borrowing up to five times their salary could be plunged deep into negative equity.


http://www.dailymail.co.uk/news/article ... ll-30.html

For the Daily Mail to say it, it must be serious :

Daily Mail wrote: Roger Bootle, managing director of Capital Economics, was formerly chief economist at HSBC and one of the Bank of England's 'wise men' who advised Chancellors under the last Tory government.
He said: 'The message is clear. Houses are now so over-valued that a prolonged period of falling prices is on the cards.'
Analysts at Capital Economics say it would take a fall of 22 per cent to bring the cost of homes back into line with what buyers can afford. A more serious slump, with prices collapsing 30 per cent, cannot be ruled out if there is a 1980s-style 'boom and bust' cycle.
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Re: Look out for the crash !!

Post by JimC » Tue Jul 22, 2014 9:13 pm

The correct term is a "market correction", I believe...
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Re: Look out for the crash !!

Post by laklak » Tue Jul 22, 2014 9:22 pm

It's only a crash when the other party is in office.
Yeah well that's just, like, your opinion, man.

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Re: Look out for the crash !!

Post by klr » Tue Jul 22, 2014 9:49 pm

JimC wrote:The correct term is a "market correction", I believe...
Can "irrational exuberance" be far behind? :ask:

As for the Daily Hate Mail: It will report anything even remotely upsetting to its target demographic, anything that triggers a response. Bad news sells much better than good news.
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Re: Look out for the crash !!

Post by mistermack » Tue Jul 22, 2014 11:17 pm

klr wrote:
JimC wrote: As for the Daily Hate Mail: It will report anything even remotely upsetting to its target demographic, anything that triggers a response. Bad news sells much better than good news.
Fuck the daily mail. I just noticed that even though that article is dated 2014, and came up in today's search, it's about ten years out of date.
This is by the Telegraph, and definitely about today's price drop.
http://www.telegraph.co.uk/finance/econ ... -year.html
It's still significant. If buyers get a whiff that prices are going to drop, they will put all buying plans on hold. A tiny drop becomes a flood of price cuts. If you are at the top of the bubble.
While there is a market for shit, there will be assholes to supply it.

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Re: Look out for the crash !!

Post by JimC » Wed Jul 23, 2014 12:01 am

mistermack wrote:
klr wrote:
JimC wrote: As for the Daily Hate Mail: It will report anything even remotely upsetting to its target demographic, anything that triggers a response. Bad news sells much better than good news.
Fuck the daily mail. I just noticed that even though that article is dated 2014, and came up in today's search, it's about ten years out of date.
This is by the Telegraph, and definitely about today's price drop.
http://www.telegraph.co.uk/finance/econ ... -year.html
It's still significant. If buyers get a whiff that prices are going to drop, they will put all buying plans on hold. A tiny drop becomes a flood of price cuts. If you are at the top of the bubble.
:whisper: I think you muddled your quotes; that was klr, not me...
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Re: Look out for the crash !!

Post by mistermack » Wed Jul 23, 2014 11:08 am

JimC wrote:
mistermack wrote:
klr wrote:
JimC wrote: As for the Daily Hate Mail: It will report anything even remotely upsetting to its target demographic, anything that triggers a response. Bad news sells much better than good news.
Fuck the daily mail. I just noticed that even though that article is dated 2014, and came up in today's search, it's about ten years out of date.
This is by the Telegraph, and definitely about today's price drop.
http://www.telegraph.co.uk/finance/econ ... -year.html
It's still significant. If buyers get a whiff that prices are going to drop, they will put all buying plans on hold. A tiny drop becomes a flood of price cuts. If you are at the top of the bubble.
:whisper: I think you muddled your quotes; that was klr, not me...
Yeh? Well kindly keep out of my fuck-ups in future. I've not been well. :ab:
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Re: Look out for the crash !!

Post by cronus » Wed Jul 23, 2014 11:31 am



Then there's Mr El Nino coming around too. You don't need a weatherman to tell you which way the wind is blowing on a global house bubble crash etc. Or what it says about the global economy or your personal life expectancy? :crumple:
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Re: Look out for the crash !!

Post by laklak » Wed Jul 23, 2014 1:34 pm

Hey, I fucking LOVE El Nino! Fucks up Atlantic hurricanes, gives Florida a wet winter (saves a lot in watering the grass), and it's good for the anchovy harvest. What's not to like?
Yeah well that's just, like, your opinion, man.

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Re: Look out for the crash !!

Post by cronus » Wed Jul 23, 2014 2:40 pm

laklak wrote:Hey, I fucking LOVE El Nino! Fucks up Atlantic hurricanes, gives Florida a wet winter (saves a lot in watering the grass), and it's good for the anchovy harvest. What's not to like?
Never bothers the UK. Bastard knows when he's met his match. :tup:
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Re: Look out for the crash !!

Post by laklak » Wed Jul 23, 2014 2:55 pm

Yeah, those people it bothers should just move.
Yeah well that's just, like, your opinion, man.

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Re: Look out for the crash !!

Post by MrJonno » Wed Jul 23, 2014 3:31 pm

There isnt going to be a real crash for a while because quite simply

70% of people who have houses are very happy with rising house prices
30% of people who don't are fucked

Until the 70% start dying off and there children only get half the money which still won't be enough for them to buy a house the 70% will outvote the 30%

The first politician who actually has the honest to say I couldn't give a fuck about people who won't ever vote for me gets my vote (I actually admire Romney who basically said that)
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Re: Look out for the crash !!

Post by Hermit » Wed Jul 23, 2014 4:29 pm

MrJonno wrote:The first politician who actually has the honest to say I couldn't give a fuck about people who won't ever vote for me...
Altruism for the win!
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Re: Look out for the crash !!

Post by MrJonno » Wed Jul 23, 2014 7:08 pm

Isn't democracy the very opposite to altruism?
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Re: Look out for the crash !!

Post by Hermit » Wed Jul 23, 2014 7:09 pm

No.
I am, somehow, less interested in the weight and convolutions of Einstein’s brain than in the near certainty that people of equal talent have lived and died in cotton fields and sweatshops. - Stephen J. Gould

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