EA news warns of double dip recession and housing market slump.

Cleaver

tommy75 wrote: »

Shouldn't the EA's system of selling not be overhauled too? They clearly use many tatics to sell a house such as block viewings which is fair enough if above board, but using their own mortgage advisors to see how much money they can get off you and then pretending there are other bids to bump up your offer is clearly fraud under the publics nose.

A business using techniques such as this doesn't constitute fraud. In fact, any business that revolves around selling items like that involves a fair amount of psychology, bartering and financially trickery.

Whenever we have been looking at houses we employ the same tactics as estate agents: we criticise houses we actually really like, lie about houses we've seen at "higher prices", don't return calls from estate agents about houses to make them sweat, pretend we've put in offers on other places etc. etc.

I don't mind estate agents making up bids or trying to sell you mortgage products. It's all part of the game and you can use it to your advantage if you know how.

Having said this, I'm not saying that I'm a big fan of Estate Agents per se, or think that many have decent businesses. They have got used to prices going one way, which has meant a real dirth of decent agents: most seem clueless.

Have you seen the Google App that will launch soon in the UK? It's been out in Aus for a while (have you seen it Generali?). You can basically list your house for sale for free on Google Maps. This means you can put in your desired area and see all the houses for sale on a neat, user-friendly map. And because it's free and it's Google, pretty much everyone will use it. I wouldn't be buying shares in any Estate Agency or Rightmove in the near future with that on the horizon.

In fact, have a link:

http://maps.google.com.au/help/maps/realestate/

kabayiri

I like Mr Bolton King's comment questioning the purpose of stamp duty.

Surely it's obvious....to generate income for HMG

I can't imagine that getting a decent response.

lynzpower

vivatifosi wrote: »

That's my concern treliac. I'm neither a bear nor a bull by nature, I respond to the market and how confident I feel in it, being by nature fiscally prudent. At the moment that makes me more bearish.

It is good news that more people are finding jobs, its interesting that house prices are going up, but what I really want to know is how we are going to pay back the debts. If I'm making a decision to buy a house, whether or not the price is going up (or down) is just one part of my decision. The other two are: 1) what is going to happen to my post tax income - in other words am I going to be taxed up to the hilt and have less to spend on my mortgage than is currently the case. The second is what interest rates are going to do and whether I'll end up with a big sum to pay back with rates going up. Of these, the one that concerns me the most is the taxes one and it is really hard to make decisions when the government spins so much and is putting so much off in the vain hope of re-election.

Re the tax issue, I feel absolutely the same. Im definately not in the market for buying anywhere ( not that there is anywhere worth viewing atm) until after the election - really. Oh is keener than I, but I jsut think its sensible to wait and see whats going to happen .



:eek:

mbga9pgf

Its going to be carnage! We all know it. The politicains have spunked their load and cant do anything else. They are QE'ing until the recovery comes, but without loose credit, there can be no recovery. Spending on the plastic is all we know how to do. Where is this supposed recovery coming from? are we all about to sprout fresh 50 quid notes from our @rse whilst strugging with a debt overhang, unemployment and rocketting tax. Sorry guys, the only way to clean up this mess is to start living well within our means and adapting to a less consumerist lifestyle. Time to pay down the debt.

They cant QE forever; time is almost up on appetite for monetary fun and games. The time for pain has almost arrived.

VAT back to 17.5%
No Scrappage scheme
Crap Crimbo sales = new round of private sector job cuts looming
Carnage in the public sector still to come.

carolt

mbga9pgf wrote: »

Its going to be carnage! We all know it. The politicains have spunked their load and cant do anything else. They are QE'ing until the recovery comes, but without loose credit, there can be no recovery. Spending on the plastic is all we know how to do. Where is this supposed recovery coming from? are we all about to sprout fresh 50 quid notes from our @rse whilst strugging with a debt overhang, unemployment and rocketting tax. Sorry guys, the only way to clean up this mess is to start living well within our means and adapting to a less consumerist lifestyle. Time to pay down the debt.

They cant QE forever; time is almost up on appetite for monetary fun and games. The time for pain has almost arrived.

VAT back to 17.5%
No Scrappage scheme
Crap Crimbo sales = new round of private sector job cuts looming
Carnage in the public sector still to come.

What an elegantly phrased post.
Spot on, though I don't like your last sentence one little bit.

456789

mbga9pgf wrote: »

Crap Crimbo sales = new round of private sector job cuts looming

Actually the shops seem to be doing ok - I think a lot of people usually spend and then 'pay' it off after christmas. The difference this time round will be that next year will be carnage as you say!

Thrugelmir

456789 wrote: »

Actually the shops seem to be doing ok !

Only because there is less competition.... HMV have said as much.

phil_b_2

I personally think our debt situation gets blown way out proportion on here and the so-called carnage which aparantly awaits may be one hell of an anti-climax.

There is a lot more wealth floating around than people like to beleive.

mbga9pgf

14% GDP deficit?


Want to point out the last time we were staring such a black hole head on?

Our public debt might not look too bad today, but if we get downgraded, our servicing costs will go through the roof. How many years at 14% can we manage? Want to suggest where the cash is coming from to create growth in the near to mid term? The only way to placate investors and ratings agencies I am afraid is







PAIN

HAMISH_MCTAVISH

phil_b wrote: »

I personally think our debt situation gets blown way out proportion on here and the so-called carnage which aparantly awaits may be one hell of an anti-climax.
.

Totally agree.

The reality is that the Public Sector needs to be shrunk, but this could be achieved through spending freezes and real terms cuts without losing a single job in the short term.

Just freeze public sector pay, benefits, spending and hiring for 5 years, and the effective cuts would be massive, but all achieved through inflation and natural attrition.

Throw in some nice big cuts in useless programmes like ID cards, and it could all be done relatively painlessly.

We're only looking for a 14% cut to balance the budget. Find a way to inject private sector management and efficiency savings into all public sector departments and I guarantee you could save more than that.