Congratulations to Hamish McTavish

Pobby

Well it`s good news all round. Edinburgh is up 6%. Well how good is that? The very thing that got us into this place, debt, is now being celebrated as something we should have more of. Can`t wait until my house goes up 6%, oh how rich I will feel.

Does Gordie and The Daily Express, oh and Hamish of course, think that this is such a good thing? Folk are losing their jobs, savings smashed due to the Elastoplast interest rates. People are getting their homes repoed and this person thinks this is OK?

Seen more sense on a Telly Tubbies program.

It just about sums up the madness of the last decade.

I have seen some awful threads over the years but this one is deffo a classic.

Graham_Devon

Pobby wrote: »

I have seen some awful threads over the years but this one is deffo a classic.

Firstly, I don't think you should be so harsh on yourself, it aint that bad

Hamish don't know what he's cheering really. He don't even live there but is all happy clappy.

Just say up. He get's all happy clappy.

Pobby

Mewbie is a wit. Hope he doesn`t get barred from here.

Cleaver

Pobby wrote: »

Mewbie is a wit. Hope he doesn`t get barred from here.

Is it just me or did that post sound a bit ominous? Try reading it whilst doing an impression with Dr Evil from Austin Powers with a 'mmmwmwhahahahahhaaaaa!!!!' laugh after it.

HAMISH_MCTAVISH

GettingMoreBearish wrote: »

Agreed Pobby Classic Indeed. I particularly enjoyed Mewbies Mull Of Kintyre post.

Even I enjoyed Mewbies Mull Of Kintyre post....:D

bluey890

Pobby wrote: »

Well it`s good news all round. Edinburgh is up 6%. Well how good is that? The very thing that got us into this place, debt, is now being celebrated as something we should have more of. Can`t wait until my house goes up 6%, oh how rich I will feel.

Does Gordie and The Daily Express, oh and Hamish of course, think that this is such a good thing? Folk are losing their jobs, savings smashed due to the Elastoplast interest rates. People are getting their homes repoed and this person thinks this is OK?

On a positive note, if an individual is (unfortunately) having their house repoed, it is better that is has increased in value. Otherwise the individual can be chased for the outstanding balance.

Pobby

bluey890 wrote: »

On a positive note, if an individual is (unfortunately) having their house repoed, it is better that is has increased in value. Otherwise the individual can be chased for the outstanding balance.

That is just adding more problems I feel. I saw all that nastiness back in the last crash, it is very sad. Having said that. The lenders settled on a tiny percentage of the loan in most cases.

This time around it looks like folk are going BR.

Having said that, how stupid is it that all this HPI has been allowed to go on. I am very cross as the Fat Controller promised that he would not let it happen again. Well he has to deal with that, not me.

How I see it, it was a lie and may I suggest that he and his mates saw the gains they would make from it.

bluey890

Pobby wrote: »

That is just adding more problems I feel. I saw all that nastiness back in the last crash, it is very sad. Having said that. The lenders settled on a tiny percentage of the loan in most cases.

This time around it looks like folk are going BR.

Having said that, how stupid is it that all this HPI has been allowed to go on. I am very cross as the Fat Controller promised that he would not let it happen again. Well he has to deal with that, not me.

How I see it, it was a lie and may I suggest that he and his mates saw the gains they would make from it.

I agree; I think that the BoE remit should have been to target RPI and not CPI.
I can understand the reasons for using CPI though.

HAMISH_MCTAVISH

Pobby wrote: »

Well it`s good news all round. Edinburgh is up 6%. Well how good is that?

Oh it's not just good news, it's GREAT news.

Year on Year positives are a landmark event in a recovery, and Edinburgh is the first, but it won't be the last.

The very thing that got us into this place, debt, is now being celebrated as something we should have more of. Can`t wait until my house goes up 6%, oh how rich I will feel.

Once again, it's not UK household debt that was the problem, it was the sudden and savage withdrawal of credit from the global markets.

Does Gordie and The Daily Express, oh and Hamish of course, think that this is such a good thing? Folk are losing their jobs, savings smashed due to the Elastoplast interest rates. People are getting their homes repoed and this person thinks this is OK?

Oh dear, please try to make your mind up before posting..... And thinking your ideas through before typing might be a good idea as well.;)

Let's start from the top.

Folks losing their jobs and getting homes repoed is terrible, so please explain to me why you think it is better for them to lose their job AND be in negative equity and unable to sell their house if need be?

And has it never occurred to you that a lot less of them will lose their jobs if house prices rise, a few million households stop panicking about being in negative equity, and start spending again?

And as for rates, how do you propose that raising interest rates will be good for these families struggling with unemployment and worried about losing their house? You somehow think that raising rates is a good thing?

Savings rates are low, but RPI is negative, the differential is just as good as it was when rates were higher.

Seen more sense on a Telly Tubbies program.

It just about sums up the madness of the last decade.

I have seen some awful threads over the years but this one is deffo a classic.

Yes. This thread's OP is indeed madness, and more sense has been seen on a Telly Tubbies programme.

Pobby

So Hamish, it`s even more debt you want to see? Do you not see that the crazy rise in house prices ( and I agree some people have gone overboard on other borrowings ) has lead to the mad situation we are in?

So who do you think they will sell their houses to, other people who are scared stiff about losing their jobs, oh and by the way, I do believe that you have just celebrated a 6% rise in a certain Scottish city. So what`s that based on? Higher wages and more confidence in the market? I don`t think so.

Might I suggest, for reasons best know to your self, that you believe in some strange economic system that despite a rapidly declining job market, a stock market that crashed, financial institutions hitting the wall house prices should still keep going up?

Yes there was a savage withdrawal of credit. Why do you think that happened? My guess is, and sadly far too late, the lenders had realised that they have had gone about 8 bridges too far. For goodness sake, they might be a bit late in the day, but even those guys woke up to the fact that it would be nice to get the money back. I am assuming, I might be wrong, that had credit facilities not been withdrawn you think houses would keep going up year on year?

Funnily enough, there are a few of us that worried many years ago about HPI, which bore no resemblance to wage inflation. We, the Telly Tubby mentality, challenged this but of course were shouted down.

My vested interest? I have lost a lot on my pension fund and the interest on my savings are diddly squat, interest that I may well have spent in the real economy, not the make believe HPI economy.

So the " Elastoplast " interest rate is only because in the main, it is trying to ameliorate the dire situation that this country has allowed itself to get in to.

HAMISH_MCTAVISH

Pobby wrote: »

So Hamish, it`s even more debt you want to see? Do you not see that the crazy rise in house prices ( and I agree some people have gone overboard on other borrowings ) has lead to the mad situation we are in?

So who do you think they will sell their houses to, other people who are scared stiff about losing their jobs, oh and by the way, I do believe that you have just celebrated a 6% rise in a certain Scottish city. So what`s that based on? Higher wages and more confidence in the market? I don`t think so.

Might I suggest, for reasons best know to your self, that you believe in some strange economic system that despite a rapidly declining job market, a stock market that crashed, financial institutions hitting the wall house prices should still keep going up?

Yes there was a savage withdrawal of credit. Why do you think that happened? My guess is, and sadly far too late, the lenders had realised that they have had gone about 8 bridges too far. For goodness sake, they might be a bit late in the day, but even those guys woke up to the fact that it would be nice to get the money back. I am assuming, I might be wrong, that had credit facilities not been withdrawn you think houses would keep going up year on year?

Funnily enough, there are a few of us that worried many years ago about HPI, which bore no resemblance to wage inflation. We, the Telly Tubby mentality, challenged this but of course were shouted down.

My vested interest? I have lost a lot on my pension fund and the interest on my savings are diddly squat, interest that I may well have spent in the real economy, not the make believe HPI economy.

So the " Elastoplast " interest rate is only because in the main, it is trying to ameliorate the dire situation that this country has allowed itself to get in to.

You seem to confuse many issues, and blame HPI for them all.

HPI is nothing more or less than a result of a fundamental supply imbalance in the market.

The unemployment, the recession, the pension fund losses, etc.... none of these things can be fixed by prices crashing further. Just the opposite in fact.