House prices fall by 20 per cent in towns over past six months

Thrugelmir

ad9898 wrote: »

Mitchaa, I have to say I'm surprised at what you are advocating here, your arguments usually have a much sounder base. You seem to be arguing for a never-ending ponzi scheme, which would have kept everyone happy, the issue is, nothing is forever, all things must end. With ponzi schemes the longer they go on for the harder the fall at the end, this is exactly what has happened now.

Surely the best idea, is never to start a ponzi scheme, or if one is spotted, to end it as quickly as possible. The housing bubble of 2001-2007 was a ponzi scheme, simple as that. As long as ever greater amounts of money were being shovelled in at the bottom by FTB'rs and BTL'rs, everything was dandy, the problem is, this kind of business/economic model is always going to be doomed to failure, as we are now seeing.

Wasn't just the money shovelled in at the bottom. How many people traded up houses as they saw it as their future pension fund. When retirement came sell up and down size. The whole issue boils down to a lack of regulation in many ways.

Graham_Devon

Thrugelmir wrote: »

Wasn't just the money shovelled in at the bottom. How many people traded up houses as they saw it as their future pension fund. When retirement came sell up and down size. The whole issue boils down to a lack of regulation in many ways.

Surely the only way they could sell up and upgrade was if people were coming in at the bottom and buying the houses they were "trading in".

jay3_2

Graham_Devon wrote: »

Happier because they had a credit card, yes.

Happier because they could buy all these things without having the money.

I'm happier thinking that the economy could turn to something we can actually afford to live in, but then I didnt go out and buy 40" plasmas on credit, and although my house could have done with new furniture etc, made do with what I had, to the hysterics of my friend who had anything and everything, but is now bankrupt.

By the way Bendix, I bought in 2006. And I'm saying it can happen!!

I know what you mean - I still get incredulous looks from people when I explain that we're saving up to get our kitchen replaced....

cocktail

ad9898 wrote: »

Mitchaa, I have to say I'm surprised at what you are advocating here, your arguments usually have a much sounder base. You seem to be arguing for a never-ending ponzi scheme, which would have kept everyone happy, the issue is, nothing is forever, all things must end. With ponzi schemes the longer they go on for the harder the fall at the end, this is exactly what has happened now.

Surely the best idea, is never to start a ponzi scheme, or if one is spotted, to end it as quickly as possible. The housing bubble of 2001-2007 was a ponzi scheme, simple as that. As long as ever greater amounts of money were being shovelled in at the bottom by FTB'rs and BTL'rs, everything was dandy, the problem is, this kind of business/economic model is always going to be doomed to failure, as we are now seeing.

so when are the pensions going to collapse?

ad9898_3

cocktail wrote: »

so when are the pensions going to collapse?

I think if you compare what a private/company pension was worth this time last year compared to now, you could probably say they already have.:rolleyes:

chucky

ad9898 wrote: »

I think if you compare what a private/company pension was worth this time last year compared to now, you could probably say they already have.:rolleyes:

collapse = to break down; come to nothing; fail.

i don't think the pension values have failed or come to nothing.
people are still receiving their pensions albeit many may have a reduced value - which is not good

it's unlike you Ad to make a statement with such a dramatic effect

ad9898_3

chucky wrote: »

collapse = to break down; come to nothing; fail.

i don't think the pension values have failed or come to nothing.
people are still receiving their pensions albeit many may have a reduced value - which is not good

it's unlike you Ad to make a statement with such a dramatic effect

Well dopester and !!!!!!?, either don't post much or in !!!!!!?'s case has stopped posting, so I have picked up the 'doom mantle' for the forum.:D