Nationwide +0.5%

Generali

Cleaver wrote: »

I've got to be honest and say that I wasn't too keen on Basle II, so not really sure I'll bother with Basle III. It lacked plot depth and I wasn't impressed with the ending. Is Zack Galifianakis in Basle III? He seems to be in most things at the moment.

I'll do a cut out n keep guide to Basle III as it applies to mortgage lending at some point. Don't say I didn't warn you!

ruggedtoast

You're just so ratty Jules. Take a chill pill. Smell a flower. Why do you even care about any of this. Whats your VI?

Who is the real Julie? No one knows anything about you except that you're obviously a stressed out, anguished soul, in need of a hug.

You can share with us Julieq, you can.

julieq

ruggedtoast wrote: »

You're just so ratty Jules. Take a chill pill. Smell a flower. Why do you even care about any of this. Whats your VI?

Who is the real Julie? No one knows anything about you except that you're obviously a stressed out, anguished soul, in need of a hug.

You can share with us Julieq, you can.

Not been a good day has it Rugged? Next leg down POSTPONED again May as well compensate with a few ad hominems I guess.

As the imperial Amanda Palmer put it once, "I attack when attacked". And as she also said "and of course it's not the size that matters". Which I guess will be reassuring for you

ruggedtoast

julieq wrote: »

Not been a good day has it Rugged? Next leg down POSTPONED again May as well compensate with a few ad hominems I guess.

As the imperial Amanda Palmer put it once, "I attack when attacked". And as she also said "and of course it's not the size that matters". Which I guess will be reassuring for you

Ah but I'm not a housing bear am I my flower.

Just a concerned bystander. Watching as you slide into greater depravity, and overall beastliness.

And as I'm sure I dont need to remind you, its not what you've got its what you do with it.

julieq

Is that what you've been told Rugged?

shortchanged_2

Well, I suppose it is honorable to go down fighting julieq.

Graham_Devon

julieq wrote: »

Pent up demand = desire in your terms. Allow it to be satisfied and prices rise. It's still supply and demand.

No, not really. Desire in my terms is wanting to buy. Pent up demand, is those able to buy, willing to buy, and have a product to buy. I.e. the same as demand.

It's this part I have issue with, as really, there is no such thing as pent up demand, as with all of those 3 things in place....it's not pent up demand, it's simply demand.

The only situation where it wouldn't be demand, is abnormal problems, such as laws restricting purchase etc, where the person is unable to turn their ability to buy, into actually proceeding. Say for instance planning restrictions....I suppose at that point, it could be called pent up demand as the ability to pay is there, the supply is there, it just awaits a tick from the council.

And the trend is that around 50K households annually require houses MORE than are being created. If we already have a reservoir of desire (let's use your term) ON TOP of this shortfall, you are building an additional pent up pressure in the system from the point at which desire can be realised.

Doesn't matter, if they cannot buy, regardless of the lack of houses, it's not demand. It's not pent up either, as they couldn't proceed anyway, due in the main to two factors:

A) Lack of credit allowing them to buy.
High prices outside of their affordability range.

In reality, it is always both. The trouble is, in all these conversations, you are completely unwilling to look at high prices. You seem to assume prices will simply increase with this "pent up demand" which is completely false.

You seem to suggest that credit is the one and only key. It's part of the solution, but not the entire solution....and this is where you can bring your "pent up demand" theory in.

Higher credit allows those who would not otherwise be able to turn "pent up demand" into demand.

However, this is a viscious circle, as more credit only fuels higher prices. Which in turn, requires more credit....which in turn creates higher prices. The ever increasing avaliablity of credit allows more and more people to turn pent up demand, as you say, into demand.

The problem with that is that the party has to stop at some point, naturally, as people cannot afford to actually repay the ever increasing loan amounts...and were left with high prices, and no credit.

This, is what recently happened.

Lots of people still would like to buy, but they have no means to do so. They do not count as demand. They can not turn their desire into demand and buy a product. it doesn't matter if it's high prices, or lack of credit that's holding them back. Either way, they are not creating demand. Lots of people want to go to the bahamas twice a year, but it doesn't mean you can't move on the islands simply because the entire population has turned their desire into demand. They cannot afford to.

The same can happen with prices. Prices can fall to a point where they simply do not fall further as they are at a price level where affordability meets natural demand levels.

I cannot be any clearer on my opinion on demand. I do wish you would stop trying to suggest I do not understand any of the above, and going round the forum calling me the thickest person who will never understand simply because I do not agree with you that desire = demand, or that your preferred term "pent up demand" can always be turned into demand.

julieq

You can always tell when the bears are rattled. The frequency of personal attacks increases, sad but true

What ought to be more significant is that Gen is disagreeing with me. That worries even me.

Graham_Devon

julieq wrote: »

You can always tell when the bears are rattled. The frequency of personal attacks increases, sad but true

What ought to be more significant is that Gen is disagreeing with me. That worries even me.

May I remind you of the first personal attack on this thread?

http://forums.moneysavingexpert.com/showpost.php?p=42447990&postcount=20

Post 20.

Username: julieq

AD9898_2

Cleaver wrote: »

I'm a homeowner so I'm off to spend £200 in town today, safe in the knowledge that it's free money.

Do you remember the days when we all looked forward to these types of threads? 153 pages of debate and arguments. Now there's a good chance of a few years of nothing really happening. Maybe we should just turn this in to a music debate forum instead. That would work with me, as I'm much more interested in music than house prices. I have no idea why I'm here to be honest.

Going to see Rush in May, been into these guys since the 70's, you can't fault some prog rock and ace muscianship.

Bored with HP discussion these days, it's not an issue in my life anymore and hasn't been for 18 months, it's nice to get into a squabble now and again and I like to put forward my thesis on peak energy and get a few 'thanks' (come on who doesn't, and how many of us would stop posting altogether if they removed it ) but other than that there is nothing happening.