Great Post From HPC

doire_2

There's no way out. The UK housing market does not operate in isolation from everything else. You do not come to within days of financial meltdown without a price to pay. NL have just delayed paying it. QE, SLS, and the rest, will have to stop. Back to November 2008 again.

The UK economy shrunk by 6% - solely in the private sector, possibly less than half of the UK economy. Public sector spending increased in this time - at a cost of borrowing an extra £180 billion a year. The public sector is grossly inefficient, the private sector has been absolutely clobbered and is entangled in red tape and other crud. This imbalance is going to have to be addressed. We still have a trade deficit. The EU - our biggest trading partner by some way - is up the spout. We're the most indebted country in the world (450% of GDP or thereabouts) - with the possible exception of Japan, that great beacon of hope and economic recovery. We've got a colossal pensions/retirement crisis looming.

Yet growth is still going to magically appear from somewhere, and it'll all be dandy again. House prices will soar up to 2007 levels and beyond.

.....................

Really2

Where did the service sector shrink by 6%?
http://www.markiteconomics.com/MarkitFiles/Pages/ViewPressRelease.aspx?ID=6331

The headline CIPS/Markit Business Activity Index recorded 56.5, down from 58.4 in February but well above the crucial 50.0 no-change mark. Moreover, despite the disruptions seen earlier in the year, average growth in Q1 was broadly similar to that posted in Q4.

50 is no change. It is still growing just not as fast.

Edit.
Oh I get it we are talking about the recession and not what is happening now.

StevieJ

I do think posts lose some of their gravitas when you know what the tone and almost the content will be before you read them.

kennyboy66_2

"We're the most indebted country in the world (450% of GDP or thereabouts"

Wrong, wrong, and thrice wrong.

System

Great post if you judge a post on how many errors it contains.

purch

Wrong, wrong, and thrice wrong

That tends to be the outcome if you rely on anonymous Blogs and Posts from the Internet as your sole source of information.

nollag2006

doire wrote: »

... House prices will soar up to 2007 levels and beyond. ..................

In large swathes of the country they are already beyond 2007 levels, but don't let the facts get in the way of another rant.

Glad to see that HPC continues to attract a certain type.

ruggedtoast

The asking prices for the nicer bits of North West London are about 15% ahead of what they were in 2007 as far as I can see.

If you'd bought a place in South Oxhey however, you'd have lost about £50,000 by now.

Which brings me to the conclusion that,

A) There is a dire shortage of places to live where there are no chavs. And a surfeit of places to live where there are chavs.

Even chavs dont want to live with chavs.

Fortunately I have a new job and am 'emigrating' out of this dump to the Home Counties.

What a relief.

doire_2

I do like a nice bit of fishing :rotfl:

nembot

Growth will occur, whilst the means that enable to is available. We understand this may change after the election and the other factors always had a finite lifespan.

To suggest this will go on forever, allowing continued growth is maybe a little too enthusiastic?

JonnyBravo

doire wrote: »

I do like a nice bit of fishing :rotfl:

Don't suppose you ever bite then???

doire wrote: »

He keeps banging on about waiting another 15 years but gives no facts to back this up

Oh whoops.... nasty hook you're on there.....