Recession finally hits the white hot property market of Aberdeen

HAMISH_MCTAVISH

Afriend wrote: »

That was a blatant attempt to take the player instead of the ball Graham.

And not even a good attempt.

Quite pathetic really....

We badly need a better class of bear around here.;)

bernard_shaw

damanpunk wrote: »

People seem to take great glory on here with schadenfreude directed at the bankers and the oil industry, this country would be in a far worse state without either.

Yes. Without North Sea Oil and Gas we might have an energy system like, em, oooh, France. And without the bankers we might have a capital base and industrial policy like, erm, let's see, err, Germany.

How awful. I don't really like foreigners, so I'm glad we chose a different way. It's a pity that the oil's running out and that the bankers have stolen all that money from our future tax contributions, but still, great, eh!

bambam101

ooowww, tough talk tiger, I can see why the tories got wiped out in Scotland now.

It's also quite a strange stance to take on a thread, to quite rightfully defend the loss of jobs at shell at the start of the thread , then to glorify about future public secture job cuts by a proposed conservative party later on in the discussion. You also must remember that you'll be untouched by this magical tory sweeping broom though the public service sector - you have your own SNP minority government in the Scottish parliement who are committed to a more socialist model of health care and education policies

And on the issue of of Labour wasting vast amounts of money on the past decade - wasn't it the conservative party who put three million people into umemployment, and paid for this lost generation's benefits with Scottish north sea oil and gas.

HAMISH_MCTAVISH wrote: »

No, it's the Labour government that has created this mess, by spunking vast sums of cash up the wall for a decade on a useless and wasteful public sector, and taxing the productive private sector to death to do so.

Supporting British banks after the American sub prime mess spread like a virus around the world was one of the few things they got right.

UK lending was not the problem. UK house prices were not the problem.

And the final cost of the bank bailouts, after everything is paid back and the equity is sold, will be almost nothing.

The socialism you long for is a failed ideology, consigned to the dustbin of history.

Give up.

Your crash is over, and the next conservative government will be slapping the public sector back into it's place. A decade or more of shrinking public sector pay and jobs, and rapid expansion of privatisation of services.

Excellent news all around.:beer:

bernard_shaw

HAMISH_MCTAVISH wrote: »

The outlook for Aberdeens oil industry is vastly better this year with Oil at $75 a barrel than it was a year ago when oil prices were hovering around $30 a barrel,

But it's not an "oil industry" is it? In fact, it's mostly a "natural gas industry". Gas is 65% of North Sea output, and, the last time I looked, wholesale prices remain depressed at about half of what they were in Summer 2008 and about 30% down on this time last year. IIRC this gives a barrel-of-oil-equivalent price of around $40 - $45 for North Sea production. Not so good.

bernard_shaw

HAMISH_MCTAVISH wrote: »

Geeezuz Graham, I've got 75% of my total assets in property

Ah, that explains it!

(If you put it in your signature, folk will understand you better.)

bernard_shaw

HAMISH_MCTAVISH wrote: »

Your crash is over, and the next conservative government will be slapping the public sector back into it's place. A decade or more of shrinking public sector pay and jobs, and rapid expansion of privatisation of services.
Excellent news all around.:beer:

What Tories are those, then. The UKIP ones?

The Cameroonians are quite a different bunch - in some respects, they're a bit to the left of new labour. At the Hugo Young lecture in his Big Society speech, Cameron made labour redundant.
It's the rise of the Red Tories!

You'd better read this:
http://page.politicshome.com/uk/david_cameron_the_big_society_full_speech.html
The Guardian loved it:
http://www.guardian.co.uk/commentisfree/2009/nov/11/david-cameron-wonderfully-bold-speech

Have a read of this too...
http://www.prospectmagazine.co.uk/2009/02/riseoftheredtories/
and this:
http://standpointmag.co.uk/the-price-of-david-camerons-compassion-features-december-09-big-society-daniel-johnson

Not the Thatcherist libertarians you were hoping for at all! These people are communitarians; distributionists with a distrust of neoliberal economics. They don't look like tories to me at all!

Peter Hitchens says "Only Defeat Can Save Conservatism" (!!)

bernard_shaw

While I'm at it, libertarian poster-boys The TaxPayers' Alliance applaud moves by the Treasury to close a National Insurance loophole on North Sea oil and gas jobs. As many as 10,000 workers will be affected, apparently.

“With tax revenues tight, it cannot be fair that national insurance is rising for most workers but not being paid by an oil industry that has made huge profits out of Britain’s natural resources.”

Said the man from the right-leaning think-tank.

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article6959730.ece

chucky

Emy1501 wrote: »

Funny because ICM did a poll for the BBC in 2008 and only 22% of the people polled wanted prices to rise.

The reality is only downsizers, those in negative equity or investors want properties to rise. FTB do not, neither to upsizers and also many older people who are mortgage free don't because they see that homeownership is becoming harder and harder for their children.

The poll actually found that 46% wanted them to stay the same and 28% wanted them to fall.

how typical... why din't you post the figures for 2009 where they were very different ie. the other way :rolleyes:

chucky

Pobby wrote: »

Hypocrite is what you are Hamish. For ever banging on with your obsession regarding HPI in Aberdeen. Telling us all how well paid you and your wife are when there are folk here struggling. Oh and a motor bike for her at Christmas.

Good stuff. Just as some poor begger is going out of their mind oh how they will struggle on JSA. So do think Hamish before you go on attacking some one else.

that's a bit out of order. why the angry post?

chucky

HAMISH_MCTAVISH wrote: »

But as 70% of people live in owner occupied property, then it is self-evident that HPI is good for the majority.

And realistically, the 20% that live in social housing are never going to be able to afford a private house on the open market, and never have been in tha past either..

So we're really talking about the 10% in the middle, in private rental, primarily the aspiring FTB's.

For them, HPI is theoretically bad..... ALthough it's also worth pointing out that this crash, and the associated difficulties in obtaining finance, make it far harder to get on the ladder now than it was in 2007.

So the crash has not really benefitted them much either, as whatever smaller amount they are paying on the price, has as often as not been eaten up by the difference in mortgage rate margins.

but Hamish - you have to tread very carefully here.

there are some people that HPI is not good for - 30% is a lot of people.