Credit Action stats out for Dec

purch

I would strongly suspect that we will see very little growth (or actually a contraction) in these figures over the next 12-18 months

You never know, but it may sink in (one day :rolleyes: ) to those pulling the strings, that simply cutting interest rates, (and thus cutting the prospective return on productive capital :mad: ) will not start a huge rush to borrow and spend, cos people (especially DD ) are already up to their eyeballs in debt.

Time for a new plan !!!

Really2

purch wrote: »

You never know, but it may sink in (one day :rolleyes: ) to those pulling the strings, that simply cutting interest rates, (and thus cutting the prospective return on productive capital :mad: ) will not start a huge rush to borrow and spend, cos people (especially DD ) are already up to their eyeballs in debt.

Time for a new plan !!!

Well being all fair I have £170K on mortgage (no other debts) at the moment so I will hold the burden for 3 people.:D

Dithering_Dad

kennyboy66 wrote: »

Failing all of this I will just resort to snide remarks

The only snide remarks I could see in the entire thread were aimed at me by one of !!!!!!'s sycophants.

As I pointed out in my retort to his rather snidely post, !!!!!! didn't compile the stats, so any views expressed were aimed at the compiler and content of the stats, not at the person who posted them into MSE.

Dithering_Dad

purch wrote: »

You never know, but it may sink in (one day :rolleyes: ) to those pulling the strings, that simply cutting interest rates, (and thus cutting the prospective return on productive capital :mad: ) will not start a huge rush to borrow and spend, cos people (especially DD ) are already up to their eyeballs in debt.

Time for a new plan !!!

lol, yes I'm literally drowning in my debts!

purch

so any views expressed were aimed at the compiler and content of the stats, not at the person who posted them into MSE.

Taking everything personally seems to be a disease that is spreading !! :cool:

Really2

purch wrote: »

Taking everything personally seems to be a disease that is spreading !! :cool:

Thats it im off.;) :rotfl:

Jimuth

Dithering_Dad wrote: »

The only snide remarks I could see in the entire thread were aimed at me by one of !!!!!!'s sycophants.

As I pointed out in my retort to his rather snidely post, !!!!!! didn't compile the stats, so any views expressed were aimed at the compiler and content of the stats, not at the person who posted them into MSE.

If you're meaning me, then I would recommend you read my post again and let me know what was snidey. As Disraeli said, "lies, damned lies, statistics" - which is what you said - which is true of all stats and any number, every number can be painted to tell a different tale - essentially, they're all "bolloxs". However, the underlying trend worries me.

I am !!!!!!'s #1 fan, as I am the #1 fan of a whole load of posters on here. If I hadn't come to this site in Feb this year I would be owning a house in massive negative equity and probably have a stomach ulcer through worry. Thanks to all of them.

I personally found the "cold shower" of bad news very useful in persuading the wiff to not move, and so am inclined to agree with it more, especially as I do think we're headed for a recession of serious concern!

Pobby

I sometimes have to laugh, as much as I so enjoy the posts here. I guess I am 20 to 30 years older than most of my fellow posters. Wow in that time things have really changed.

You know, when I bought my house, mid 70`s, it was no big deal. Save up the deposit, bit of a grovel and in you moves. With or without curtains, carpets, fridges and on and on. Can`t ever remember talking about mortgages to mates unless it was how to get one. Never though about being kicked out by the lender either. No rinky, dinky mortgage " products"! Variable rate and that`s ya lot.

Houses were so affordable. I was on around £1.5k a year and my wife a bit less. Had to have a reference from my employer saying that I would shortly be on £2.5k, in fact a year later I was earning an eye watering (for that time) £6.5k a year.

What, in hind sight made it so affordable was inflation. OK I did really well because of promotion as well but everyone started to earn more. Of course houses went up but not like the great over shoot we have seen.

About 1981 my next home was valued at about £30k. Joint income around £18k a year. Affordable!

So really it was no big deal. Heck, in 1981 you could still buy a 3 bedder terrace in the south east for a little over £20k.

WTF?_2

Jimuth wrote: »

I personally found the "cold shower" of bad news very useful in persuading the wiff to not move, and so am inclined to agree with it more, especially as I do think we're headed for a recession of serious concern!

Cheers Jim - good to see an example of someone who has saved money or avoided being trapped in a tricky financial situation as a result of advice and discussion on the board. That is the purpose of MSE after all.

Just over a year ago however, anyone daring to post bearish news in the House Buying, Renting & Selling group on MSE was shouted down by a wall of bullish sentiment. All house price discussion was confined to a single thread on that parent group for months and there was talk of banning it altogether.

Sadly, as the crash has unfolded certain would be 'bullish' sorts have busied themselves instead just slagging off people who maintain a bearish outlook. You'll notice that there is very little true bullish content in their posts, just baiting and insults along the line of 'doom monger', 'you want the economy to crash' etc. etc. (and much worse besides).

Dithering_Dad

Why does Jimuth's light go out, just as !!!!!!'s light goes on? Very odd
indeed.

!!!!!!, why are you going on about personal attacks again, when we have deduced that none are occurring on this thread?