Crash Crash Crash !!!!!!!!!!!!!!!!!!!!!!!!!!!

hearts

Pirces go up prices go down prices go up again and then down again. I am glad I own what I own now. ;-) People will find it harder and harder to buy property. Crash or no Crash.

sabretoothtigger

IveSeenTheLight wrote: »

fair enough, but what about reading everyones texts that are skewed off to the right as well, or I want to thanks you or quote you.

Internet options allow me to change the size of tect I see on screen, but not of images

ctrl - in firefox alters the zoom & lets you see the whole of the page. I take the point on wide images though

People will find it harder and harder to buy property

Falling prices should work both ways. In a properly working economy the positives should balance the minuses.
Falling prices require less credit (not more like we have now because requirements were previously lax), etc

Thats why all these big government measures are bad because they show how badly screwed things are that the government has to get out and push when the economy should drive and regulate itself

sabretoothtigger

In fact, a third of the entire [sp500] index is not even qualified to be in the index -- 186 stocks have market caps under $4 billion, the minimum value for consideration for S&P 500 membership.

http://uk.finance.yahoo.com/q/cp?s=%5EGSPC

sabretoothtigger

The City contributed around a third of our economic growth in the recent past and about 10% of total output.


The slump in the City has knocked around £40bn - yes £40bn! - from annual tax revenues.

http://www.bbc.co.uk/blogs/thereporters/robertpeston/

macaque_2

1sue23 wrote: »

My house is my home so why do I need to get out.?

I'm afraid there are some double standards going here. When prices were rising, home owners bought new houses without selling their old ones. They flipped houses like there was no tomorrow and used the equity in their houses as a piggy bank. Homes were described as 'their pensions' and millions tuned into property !!!!!! on the TV. Thats all very well, but for you now indignantly declare: 'my house is my home' is a bit rich. Your house is your home but, for the last 10 years it has also been your speculative toy.

StevieJ

macaque wrote: »

I'm afraid there are some double standards going here. When prices were rising, home owners bought new houses without selling their old ones. They flipped houses like there was no tomorrow and used the equity in their houses as a piggy bank. Homes were described as 'their pensions' and millions tuned into property !!!!!! on the TV. Thats all very well, but for you now indignantly declare: 'my house is my home' is a bit rich. Your house is your home but, for the last 10 years it has also been your speculative toy.

Why do you have to tar all home owners with the same brush? I personally have never mewed and in fact paid off my mortage two years ago (apart from 300 balance) And yes it will form part of my pension as I will not have to pay rent, handy lttle 700 a month saved

SingleSue

My parents have also never mewed...and their house IS their home.

macaque_2

StevieJ wrote: »

Why do you have to tar all home owners with the same brush? I personally have never mewed and in fact paid off my mortage two years ago (apart from 300 balance) And yes it will form part of my pension as I will not have to pay rent, handy lttle 700 a month saved

This has more to do with balance than tarring. For the last 10 years, the country has been gripped by property fever. People became obsessed with the value of their homes. Apart from, BTL, flipping and second homes we had the spectacle of foolish parents forcing their children onto the property ladder. People saw property as a free lunch and the alternative to work.

Now that prices are on track for a 70% fall, house owners have suddenly rediscovered the word home. They indignantly denounce the idea that a home might be an investment. You have to laugh.

StevieJ

macaque wrote: »

This has more to do with balance than tarring. For the last 10 years, the country has been gripped by property fever. People became obsessed with the value of their homes. Apart from, BTL, flipping and second homes we had the spectacle of foolish parents forcing their children onto the property ladder. People saw property as a free lunch and the alternative to work.

Now that prices are on track for a 70% fall, house owners have suddenly rediscovered the word home. They indignantly denounce the idea that a home might be an investment. You have to laugh.

I thanked you because you made me laugh, what a load of claptrap!

sabretoothtigger

Its more of an investment then paying rent and it still makes sense to own your home in the long term. At some point the recovery will come from this base value to housing which is not speculative.

Not everyone wasted or borrowed excessive amounts of money. Just before b&b went under it reported its BTL loans were yielding a lower default rate then average.

Were it so simple that labels could be applied en-masse the markets would not yoyo like they do

http://www.pickledpolitics.com/archives/2388