Some of you are vultures

ess0two

mewbie wrote: »

What's that in miles?

From where i live now 100,love the place and stuff within the walls at least another 30k to go.

dazco

mewbie wrote: »

What's that in miles?

:rotfl::T:rotfl::T:rotfl::T:rotfl::D

fatpig_2

sabretoothtigger wrote: »

Why by the basic principles of supply and demand would prices have a reason to rise again so soon.

because properdee prices only ever go up, innit

Really2

dazco wrote: »

Because there is no confidence in the economy

Because people have taken out mortgages that they cannot repay

Because the the interest rate has to go up soon. It may not do but at the moment it is artificially low.

Because many people are losing their jobs.

Because banks are not lending unless the lendee is rock solid.

Because estate agents are closing down and not opening new branches

Because the global economy is in meltdown.

Just a few off the top of my head.

Have a look at a motoring forum, price of used luxury metal has bombed to a silly level. This is because people are struggling. A lot. After the car has gone there is only the house left.

How can you say rates will go up soon but then make all the other points (losing jobs etc, global meltdown).
all that would point to low rates for a very long time, have a look at japans IR rates for the last 13 years. If you think BOE base will go over 3% in the next 2 years you are being a very optomistic saver.

fatpig_2

Of course interest rates will shoot up in due course as hyperinflation is just around the corner

Really2

fatpig wrote: »

Of course interest rates will shoot up in due course as hyperinflation is just around the corner

Yet to see any proof of any inflation never mind hyperinflation is that not over 50% per year inflation?

Why when this happened (HPC) in Japan and they did QE why did they not have hyper inflation?

the_ash_and_the_oak

The reason Japan didn't have hyperinflation is because like the US in the 1930s it was a creditor nation not a debtor nation like the UK today. Their problems also occurred in isolation rather than at same time as other nations. They managed to have extremely low interest rates and avoid high inflation, because the low interest rates were to non-Japanese around the world (carry trade), these rates were not available at home (so in other words the inflation did occur, but not at home, the extremely cheap money went just about everywhere else)

I think we shouldn't really use the word hyperinflation as it is somewhat hyperbolic, but we shouldn't write off high inflation in the near(ish) future. It is instructive to note that the weimar hyperinflation of 1923 was preceded by a deflationary period in 1921. While i don't suggest this to be the case today i think periods of large inflation do seem to be preceded by deflationary or at least disinflationary periods first.

While we may not really be seeing evidence of inflation right now, one thing is certainly a LOT more expensive than it was this time last year. Other countries money

Paul_M_5

the_ash_and_the_oak wrote: »

While we may not really be seeing evidence of inflation right now, one thing is certainly a LOT more expensive than it was this time last year. Other countries money

Very good point -- and one that cannot be overlooked. This is inevitably going to import inflation into our economy, due to the balance of trade deficit.

Regardless of the boost to exporters of the devaluation of Sterling, we are going to remain net importers for many years to come, as we simply cannot produce much of what we consume. This is something that has to change over the longer term; I think we have now realised that such a scenario is unsustainable, and that we cannot expect to make up the shortfall indefinitely by "exporting" services.

sircharles

dazco wrote: »

Not at all.

I want all houses to be affordable (cheap) for everyone, I firmly believe people should be able to buy a house for 3 X their income.People are going under and that is because they borrowed beyond their means and because people borrowed beyond their means the price of housing went out of control. Imagine the turmoil if interest had hit 15% again.

Dirty buy-to-letters claiming more than their fair ration of houses causing a vacuum in the market forcing prices up further.

Idiot houseowners bragging over cheese and pineapple on cocktail sticks that their house had gone up £100,000 in three years, all of which is no good unless they intend to leave the country or borrow on it because every other bloody house has gone up too. So their house is worth, relatively, nothing more.

All these things were stupid and it did not take the brains of an Archbishop to see what would happen.

So, yes, I do want cheap houses but not just for me, for everyone.

And to suggest an affordable house will be out of reach to me is ludicrous. I am a cash buyer and can step on the housing ladder whenever I want, but will stay in my rented ex-council house until I consider it is the right time to do it.

I expect to be here for a while

Good gracious, Dazco,

Cheese and pineapple on cocktail sticks may have been the height of sophistication in places like Peterborough or Harlow back in the early 70s - but even then they were becoming dated!!

I suppose you drink Blue Nun, pinky poised, while nibbling away on them.

Wherever have you been for the last 40 years?????

neverdespairgirl

ess0two wrote: »

Explain why not then,2 sides to a story.

If i'd have told you in July petrol would be 82p a litre in Jan,you'd have laughed me off the boards.

I thought the oil price was a bubble in the summer.