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Debate House Prices
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UK home repossessions up in Q3, arrears down-CML
Comments
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Thrugelmir wrote: »You don't give credit to a Captain of a ship who steers his ship onto the rocks, and then helps his passengers get safely to shore.
The current actions are necessary. Over that there's no discussion. The broader issue outside of the banks is the state of the wider economy and the dependancy on state spending.
I know a fair few people who rather than using low interest rates to pay off debts are using it as a means to borrow more. Therefore there is a chance that we could end up in more problems than we are already in.
IF I run a business which is in trouble I can consider re structure which may be painful and jobs may be lost but most would survive. I could borrow more and hope things get better but if they dont I could end up in a way worse position with way more jobs lost maybe even all.0 -
IF I run a business which is in trouble I can consider re structure which may be painful and jobs may be lost but most would survive. I could borrow more and hope things get better but if they dont I could end up in a way worse position with way more jobs lost maybe even all.
Never borrow in the hope of. Any lender will require a credible business plan. Restructuring a business is often very difficult. As many costs are fixed.
Businessess often plan years ahead. Constantly adjusting their plans. Unfortunately Governments (Politicians) don't on the whole. Yet the outcome of their actions sometimes take years to crystallise. Then its too late.0 -
Thrugelmir wrote: »Never borrow in the hope of. Any lender will require a credible business plan. Restructuring a business is often very difficult. As many costs are fixed.
Businessess often plan years ahead. Constantly adjusting their plans. Unfortunately Governments (Politicians) don't on the whole. Yet the outcome of their actions sometimes take years to crystallise. Then its too late.
Isn't that what GB and AD are doing though? Many economists have laughed at AD's predictions for growth and his plans for paying off the debt we are incurring.
Lets not forget GB back in 2008 was pouring scorn on anyone who told us we were about to enter a recession even though it was pretty obvious even to me.0 -
Good news.inspector_monkfish wrote: »There was a fall in the number of people who fell behind with their mortgage repayments in the third quarter,
Great news.The CML also cut its forecast for home repossessions this year to 48,000 from an earlier forecast of 65,000.
Number of reposessions far lower than expected.
Number of people in arrears decreasing.
Can't argue with that....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Graham_Devon wrote: »Suppose this is where you can see some good from government intervention and pumping money in. Less people get turfed out.
i wonder how all those HPCers must be feeling that their expectations of high repossessions and unemployment was going to make houses cheaper.
looks like they got that prediction horribly worng too - it doesn't look it's going to happen anymore does it
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i wonder how all those HPCers must be feeling that their expectations of high repossessions and unemployment was going to make houses cheaper.
looks like they got that prediction horribly worng too - it doesn't look it's going to happen anymore does it
Most on HPC think QE wont work and there will be a bloodbath after the election in May. The are probably wrong but I would not laugh at them all just yet.0 -
Most on HPC think QE wont work and there will be a bloodbath after the election in May. .
Yes, but that's just because almost all of their previous positions and pet theories were proved wrong.
When that doesn't happen, they'll latch on to something else, then something else, then... Well, you get the idea. Always finding a new theory as to why the crash is just around the corner. And then inventing another one when it doesn't work out as planned.
HPC has become a parody of itself.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
i wonder how all those HPCers must be feeling that their expectations of high repossessions and unemployment was going to make houses cheaper.
looks like they got that prediction horribly worng too - it doesn't look it's going to happen anymore does it
Not in the short term no.
But I think it's important to remember why there are less posessions.
May be a very different picture if lenders were not told to hold back.
In the longer term, theres some huge hurdles to jump. You cannot just let people carry on living in houses they are not keeping up the repayments for. As a political stunt, it can go on for a couple of years or so. But at some point, the inenvitable will strike.
Their predictions were based on the fundamentals at the time of the prediction.
NO ONE predicted the levels the government / BOE have gone to.0 -
Isn't that what GB and AD are doing though? Many economists have laughed at AD's predictions for growth and his plans for paying off the debt we are incurring.
As far as I am aware Labour have not made any concrete proposals beyond next years election. We may hear more when AD publishes his treasury report in December.
I certainly don't feel the economists were laughing. Everybody runs complex models which depending on the data input will produce a different result. These models could be updated weekly as seperate pieces of information come to light. AD will ask the Treasury to base the forecast on various assumptions. From that he will declare his view.
Unfortunately the debt incurred will only be paid off by cutting public sector expenditure and raising taxes. The discussion is really about the extent of the changes and the timeframe they are imposed over. The end result will be the same whether it takes 3 years or 10 years to correct.0 -
Thrugelmir wrote: »You don't give credit to a Captain of a ship who steers his ship onto the rocks, and then helps his passengers get safely to shore.
I recall the captain who landed his plane in the Hudson last year was hugely credited:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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