Nationwide's Real 0.4% fall - December

mbga9pgf

StevieJ wrote: »

Good to see you have the wellbeing of the country at heart

Like the rest of the country have given a !!!! about me and my families wellbeing over the past 10 years of lunatic HPI? If it means Labour are bankrupted as a political party for the next 50 years, its a price worth paying I would say.
Joe, it would be bad, but its not as if Iceland or Greece has disspaeared overnight though has it?

StevieJ

mbga9pgf wrote: »

Like the rest of the country have given a !!!! about me and my families wellbeing over the past 10

I thought you were a public servant

mbga9pgf

I am. My sector of the public sector has seen its buget cut as a proportion of GDP for the past 10 years, whilst committing it to involvements abroad that practically broke us and broke our morale.

Since when did excessive HPI not affect public sector workers and future quality of life anyway?

Rinoa

HammerSmashedFace wrote: »

As it been repaired though or has QE just masked it ?, it's a question that still has to be answered. My point is if we stopped money printing and put IR's back up to 4% today the problems that we had at the end of 2008 would still be there, arguably worse.

So after 12 months or more, what exactly has been fixed and what has been masked ?

The credit crunch was the problem, caused mostly by banks exposure to USA sub-prime. Lenders didn't lose serious money on UK mortgages, other than the extreme example of N Rock and one or too more, but even that was small beer compared to RBS and HBOS losses in america together with their other follies.

The UK mortgage market was not a problem in 2007/8 and is not a cause for concern now.

mbga9pgf

The UK mortgage market was not a problem in 2007/8 and is not a cause for concern now.

The US mortgage market is still a concern for UK lenders, and will get much worse before it gets better. Check out the other thread.

StevieJ

Rinoa wrote: »

The credit crunch was the problem, caused mostly by banks exposure to USA sub-prime. Lenders didn't lose serious money on UK mortgages, other than the extreme example of N Rock and one or too more, but even that was small beer compared to RBS and HBOS losses in america together with their other follies.

The UK mortgage market was not a problem in 2007/8 and is not a cause for concern now.

Because the HPC brigade were predicting housing armegeddon as far back as the millenium due to high house prices, they cannot accept that the market crash may have had external causes

HammerSmashedFace

Rinoa wrote: »

The UK mortgage market was not a problem in 2007/8 and is not a cause for concern now.

I totally disagree, even with record low IR's 300,000 households are in at least 3 months arrears, which is long enough to start repo proceedings if it wasn't for government pressure and this with base at 0.5%.

This is what stupid unsustainable house prices have done to the very people that you cheer as 'homeowners'. Only the greedy, the worried and the short-sighted pray for the pyramid to continue.

It needs smashing once and for all with LTV caps, wage multiple caps and 80% capital gains tax on BTL. Only then will this ridiculous idea of 'making money for nothing' be stopped.

It isn't really making money for nothing though is it, it's robbing the next generation.

Harry_Powell

I can't believe you guys are arguing so accrimoniously (mention of penis and muppets, etc) about a 0.4% fall.

Get a life, for God's sake. :rolleyes:

It reminds me of a Simpson's episode where France launces a Neutron Bomb at Springsfield and the Comic Book Guy remarks "Oh, no. I've wasted my life". You guys could see death falling from the sky in the form of a planet busting comet and instead of having a last hug with your family and friends, would rush onto here to discuss the impact it'll have on house prices.

Sad.

StevieJ

HammerSmashedFace wrote: »

TBH Steve, if it hadn't been for those two unsustainable policies 50% down would have been a sure thing, and seeing as nothing has changed fundamentally, it still could happen when these policies have to be withdrawn.

So why couldn't you see the power of these policies 12 months ago

mbga9pgf

It needs smashing once and for all with LTV caps, wage multiple caps and 80% capital gains tax on BTL. Only then will this ridiculous idea of 'making money for nothing' can be stopped.

Fully agreed.
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