UK home repossessions up in Q3, arrears down-CML

Thrugelmir

IveSeenTheLight wrote: »

I recall the captain who landed his plane in the Hudson last year was hugely credited

At least this man knew what he was doing.

ruggedtoast

Graham_Devon wrote: »

Don't want to see anyone reposessed, it must be a horrible situation to find yourself in. But I would have thought it would have fallen, due to the last sentence.

Suppose this is where you can see some good from government intervention and pumping money in. Less people get turfed out.

Dread to think what the numbers would be if we let the economy take it's natural course.

I disagree.

Some good from government intervention would be the government investing in social housing and reversing the right to buy fiasco, building affordable housing, reforming tenancy laws and raising the minimum wage; to help the army of working poor Labour are meant to care about but do nothing for.

Spending billions of pounds, weakening sterling, and borrowing beyond our means so that people who were encouraged to take out massively over leveraged loans and cant make the repayments at 0.5% rates should remain unmolested until the next election, is not a good use of the public's money, in my opinion.

Once the market really starts to recover people in arrears are going to discover that the banks really do want their property back - the pain is deferred not delayed.

Our children and our childrens children will be paying for this lunacy for decades to come.

Graham_Devon

ruggedtoast wrote: »

I disagree.

Some good from government intervention would be the government investing in social housing and reversing the right to buy fiasco, building affordable housing, reforming tenancy laws and raising the minimum wage; to help the army of working poor Labour are meant to care about but do nothing for.

Spending billions of pounds, weakening sterling, and borrowing beyond our means so that people who were encouraged to take out massively over leveraged loans and cant make the repayments at 0.5% rates should remain unmolested until the next election, is not a good use of the public's money, in my opinion.

Once the market really starts to recover people in arrears are going to discover that the banks really do want their property back - the pain is deferred not delayed.

Our children and our childrens children will be paying for this lunacy for decades to come.

Don't disagree, but I don't think they could of done what you suggest "instantly" as it were.

Whereas some of the other proposals do shelter lots of families from being turfed out of their homes. Something, which, in essence, I agree with. However, on saying that, it can, and has, I believe, now been taken a little too far.

The help now, seems to be at the expense of the current and upcoming younger generations.

ruggedtoast

Graham_Devon wrote: »

Don't disagree, but I don't think they could of done what you suggest "instantly" as it were.

Whereas some of the other proposals do shelter lots of families from being turfed out of their homes. Something, which, in essence, I agree with. However, on saying that, it can, and has, I believe, now been taken a little too far.

The help now, seems to be at the expense of the current and upcoming younger generations.

So many of these problems stem from one thing. Unaffordable housing and an inadequate private rental market.

Labour are blowing billions on, essentially nothing other than maintaining the fiction that the loan books of the banks Brown has guaranteed are based on actual house prices, rather than pretend ones.

IveSeenTheLight

Graham_Devon wrote: »

Their predictions were based on the fundamentals at the time of the prediction.

NO ONE predicted the levels the government / BOE have gone to.

You've said this a few times i.e. no one knew how far the government would go.

It's been refuted before and shown that the information was being talked about before the predictions.

Even in here, on this forum, QE was discussed last year.
Is this forum advance ahead of professional organisations in regards the availability of information?

13/12/08
http://forums.moneysavingexpert.com/showpost.html?p=16714935&postcount=10

18/12/08
http://www.cml.org.uk/cml/publications/marketcommentary/109

Graham_Devon

IveSeenTheLight wrote: »

You've said this a few times i.e. no one knew how far the government would go.

It's been refuted before and shown that the information was being talked about before the predictions.

Even in here, on this forum, QE was discussed last year.
Is this forum advance ahead of professional organisations in regards the availability of information?

13/12/08
http://forums.moneysavingexpert.com/showpost.html?p=16714935&postcount=10

18/12/08
http://www.cml.org.uk/cml/publications/marketcommentary/109

Come on ISTL.

Discussing QE before the event, and factoring it into actual predictions are somewhat largely different circumstances.

I remember talking of getting the wheelbarrow ready before QE started. That doesn't mean I predicted it, or, it's scale.

I also said "no one predicted the levels the government have gone to". I don't think anyone did.

We've discussed the UK going to the IMF. As far as I'm aware, no ones actually predicted it will happen, just discussed it.

Emy1501

Thrugelmir wrote: »

At least this man knew what he was doing.

But does GB though? Lets not forget he eradicated boom and bust:rolleyes: Gave us light touch regulation which meant that we had to invest more money into RBS than any other bank in the world has received. Forced a well run bank in Lloyds to buy a bankrupt bank in HBOS therefore forcing it into near bankrupcy.

IveSeenTheLight

ruggedtoast wrote: »

I disagree.

Some good from government intervention would be the government investing in social housing and reversing the right to buy fiasco, building affordable housing, reforming tenancy laws and raising the minimum wage; to help the army of working poor Labour are meant to care about but do nothing for.

How do you assume the government would pay for this?
Investing in social housing & raising the minimum wage.

I presume by borrowing billions of pounds, raising taxes and cutting public spending :rolleyes:

Emy1501

HAMISH_MCTAVISH wrote: »

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.

Whilst I do not agree with alot on there they did predict the collapse of the banks well before it happened. I just wish I had listened to them at the time:mad:

IveSeenTheLight

Graham_Devon wrote: »

Discussing QE before the event, and factoring it into actual predictions are somewhat largely different circumstances.

That's a bit different to saying no one knew how far the government would go.

Seems sensible to presume that as we were closely following the American stimulus packages, the likelyhood was that it could happen here also
http://www.reuters.com/article/reutersComService4/idUSTRE4AD66L20081114

Graham_Devon wrote: »

I also said "no one predicted the levels the government have gone to". I don't think anyone did.

We've discussed the UK going to the IMF. As far as I'm aware, no ones actually predicted it will happen, just discussed it.

Yes, I now remember where I read you had been corrected on a similar point.
It was to do with how far interest rates would drop to, again you saying no-one predicted they would go so low.
I recall one poster did predict they would below the previous historic low