We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Crashometer goes from 3 to 4
macaque_2
Posts: 2,439 Forumite
One of the functions of the 70% club is to keep track of crash indicators that the main stream media tend to ignore. Two indicators have prompted a re-rating this weekend:
1. For the past month we have seen unusually high and rising levels of frothy media stories that are completely at odds with the fundamentals. These draw on light weight anecdotes from Estate Agents and doctored stats from lenders. This is a dead giveaway. Something has gone seriously amiss. The string pullers (in government, the banks and the house churning industry) are panicking and leaning on newspaper editors as never before.
2. It is also clear that borrowers have sensed the danger and are showing increased signs of stress. The last time I saw this many wine bottles in people's plastic recycle boxes was when the credit crunch hit us. In one house near me, they have a recycle box overflowing with bottles and a 'to let' sign has just gone up. We don't need to be Sherlock Holmes to work than one out?
On my 5 point system, 5 represents a very high liklihood of big falls in the near future. As a result of research done this weekend I have to report that my crashometer is being moved from 3 to 4. It may move to 5 by the end of the week.
1. For the past month we have seen unusually high and rising levels of frothy media stories that are completely at odds with the fundamentals. These draw on light weight anecdotes from Estate Agents and doctored stats from lenders. This is a dead giveaway. Something has gone seriously amiss. The string pullers (in government, the banks and the house churning industry) are panicking and leaning on newspaper editors as never before.
2. It is also clear that borrowers have sensed the danger and are showing increased signs of stress. The last time I saw this many wine bottles in people's plastic recycle boxes was when the credit crunch hit us. In one house near me, they have a recycle box overflowing with bottles and a 'to let' sign has just gone up. We don't need to be Sherlock Holmes to work than one out?
On my 5 point system, 5 represents a very high liklihood of big falls in the near future. As a result of research done this weekend I have to report that my crashometer is being moved from 3 to 4. It may move to 5 by the end of the week.
0
Comments
-
So the bi annual party your neighbours have is more reliable than rising house prices and falling unemployment?0
-
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
So the bi annual party your neighbours have is more reliable than rising house prices and falling unemployment?
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
2. It is also clear that borrowers have sensed the danger and are showing increased signs of stress. The last time I saw this many wine bottles in people's plastic recycle boxes was when the credit crunch hit us. In one house near me, they have a recycle box overflowing with bottles and a 'to let' sign has just gone up. We don't need to be Sherlock Holmes to work than one out?
Ever heard of Christmas and delayed rubbish collection due to bad weather?;)In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
Hi Hamish, they say a picture is worth a thousand words. Unfortunately this is not true in the case of the picture you have provided. Although if it has saved us a thousand of your words I suppose we should be grateful.HAMISH_MCTAVISH wrote: »daft picture...
Anyway I digress.
The important, indeed critical factor here, is that macaque's crash barometer has moved from 3 to 4. You can provide as many pictures, or stats as you like, but the facts are the barometer has moved.0 -
Macaque were you seperated from Hamish at birth? You are the bear version of him
. 0 -
On my 5 point system, 5 represents a very high liklihood of big falls in the near future. As a result of research done this weekend I have to report that my crashometer is being moved from 3 to 4. It may move to 5 by the end of the week.
"Raise the threat level to 5!"
"Are you absolutely sure sir?"
"Yes! Do it!"
"The only problem is that it would involve changing the light bulb"0 -
StiflersMom wrote: »So there is a strong chance that the world may implode by Friday ??
Don't you know that the World will end by tea time?In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
-
This is getting more and more ridiculous.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards