What the papers said in the last crash

Datasafe_2

Its interesting to see all the 'green shoots' type headlines there were and still prices went down...........:rotfl:

geoffky

let this be a lesson to all about green shoots and it will all be over in a year..because it wont.......maybe twenty...

housesitter

It's a guide to compare against isn't it but doesn't stop green shoot from being right.

At this point in time in the last crash (are we thinking 1990 as per HPC forums?) was the government nationalising and taking vast control of the countires banking and intended to print money and create new loans (Northern Rock announcement) in order to prop up the market ?

If so, to the same extent as they have done this time around?


FYI I've a vested interest in HPC.

The one think I do get from reading that is that The Times was just guessing.

iB1

I think that one thing it does show, is that there's not much point in reading the papers - they haven't got a clue really. Not then and not now.

Max_Headroom_3

I lived through the last downturn, indeed I was priced out by it, eventually buying a 3 bed house in the mid ninties for less than friends paid for tiny one bed flats in the late eighties (and thinking as they did so that I'd never afford anything and they were lucky to be earning enough to do so and wise to be stretching themselves to buy).

And yes, I well remember all the "green shoots" news reports all the way down!

lethal0r

fascinating to see just how high a % of 'green shoots' type headlines there are even during the depths of a recession.

dont quote the OP!!

tommy75

Yes its from HPC, I've seen it on many threads. I even posted it myself last month. And yes, its interesting to see what the papers said last time. In answer to your question, yes I do see something different this time around. This time IS totally different from the 90s and the 80s and 70s for that matter. Did you see all the banks collapsing and a global meltdown in the 90's? Did interest rates go to 1% then? Was QE introduced then? Were the governments throwing billions in bailouts paid by us the tax payer in years to come then? Was the government so heavily involved in trying to keep the UK economy afloat in the 90s? Yes housing is still vastly overpriced and Labour seem to have a vested interest in keeping house prices inflated atm and im not sure why (Maybe its because the bubble went out of control and if it falls the same percentage the UK will go under. I don't really know, I'm sure somebody will explain my ignorance as to why we can't have affordable housing again)
So yes, I don't see any relation to last time at all, but It could be worse, we could live in Ireland and still be borrowing 12 times our salary to afford some stuck together bricks, electrical wiring and a bit of paint.
Anyway, I thinking of buying a barge to live in for 100k because it does everything a house does at a fraction of the price and as a bonus, it floats too.

ad9898_3

Great post Cat, and so not to incur mewbie's wrath, I won't quote it.:D

Cat695

ad9898 wrote: »

Great post Cat, and so not to incur mewbie's wrath, I won't quote it.:D

Why thank you

The only reason I posted it was so people don't get all excited about the green shoots as it shows the papers don't really know what they are on about (but I'm sure they were just quoting the experts of those times)