Tales of the Housing Apocalypse from the Daily Mail

moanymoany

13 weeks to Christmas - I wonder what we will be saying on here then. When I think how the financial world has changed since we sold our house at the beginning of May. What will happen in the next three months, given that the rate of decline has got faster and faster.

Very little of what I have read on respected financial websites says the end of the credit crunch is nigh. They all are inclined to agree with the original post, that there is a lot of misery to come - soon!

pickles110564

moanymoany wrote: »

13 weeks to Christmas - I wonder what we will be saying on here then.

Thank god thats over with!

pickles110564

!!!!!!? wrote: »

He might be over-sensationalising it a bit but the points he makes are bang on. Although I don't foresee the instant 25% drop in London property, there's now no question that it is going to be hit very, very hard and very, very, fast indeed.

Is it not about time you stopped posting all this drivel?

Even you must realise that it is not going your way?

What could be possible in this last week to push you to this thought?

amcluesent

>13 weeks to Christmas<

Well that'll be time to gather enough toilet-rolls for 'crackers', the nettle-burgundy will be quite drinkable by then and 'freecycle' should have provided the family pressies, the small children will enjoy playing in the cardboard boxes taken from behind B&Q more than presents anyway. Everyone will be getting knitted socks and mittens, no need for CH!

smartn

Good Grief.... I thought I was of a fairly pessimistic nature until I read that. OK, I accept the Western world is not going to be dominant for ever, but once places such as China and India catch up economically we all will have a lot more to lose and a possibly a fair bit to gain.

As for what sounds like a total breakdown in society and a 'new menacing Global order' etc I doubt it. I have no doubt things are going to be bad for several years now, but we will come out of it.

It's one thing to be talking about house price drops and financial turmoil etc (which at the end of the day is a necessary and very painful correction to recent excesses) and completely another to make it sound like the world is coming to an end....

Ah well, at least there is a glimmer of hope at the end of the article ....

'Perhaps our lives will be none the worse for all this. Our values will certainly change'

Time will tell I guess.

phil_b_2

Even those of us lucky enough not to lose our jobs and our homes will have friends and relatives who do.

Taking the P!ss a bit? To suggest anyone who doesnt lose their home and job are the lucky ones is suggesting that the majority of people will, no? That's at least 50% unemployment. It's quite laughable.

dopester

phil_b wrote: »

That's at least 50% unemployment. It's quite laughable.

Why is it laughable? Everything is connected to everything else.

The lackeys at B&Q, the reporters who rely on newspaper advertising to get paid their crust, it just goes on and on.

Even with a policy of easy money, the US entered depression and deflation in 1929-30 with the collapse of enterprise which had grown and expanded assuming boom times would always continue. Misallocation of investment.

Are we a richer society and have our finances in better shape than in say 1997? I don't think so.

Chris2685

Talking of B & Q, I was quite surprised how cheap everything seems to be there all of a sudden! Obviously they're trying to sell lots of stuff! I read in the paper I think how they were doing well as well. Just seemed strange to me.

globalds

Davesnave

phil_b wrote: »

Taking the P!ss a bit? To suggest anyone who doesnt lose their home and job are the lucky ones is suggesting that the majority of people will, no? That's at least 50% unemployment. It's quite laughable.

If that is your mathematical take on it, you clearly have few relatives, or friends, or both.