Gold...Full house...

Sibley

I must say.

The HPC message has really gone wrong for the members.

Rent until prices fall....FAIL

Invest your money in gold.....FAIL


I would be very angry if I had bought into their rubbish.

How do ex HPC believers feel?

Wi88le

Rent until prices fall....FAIL - some areas have seen considerable falls in prices.

Invest your money in gold.....FAIL - depends when they bought the gold.

I would be very angry if I had bought into their rubbish.
How do ex HPC believers feel?

I don't know how people feel about their situation or the choices they have made however I do think the the financial crisis has not yet worked its way through the system, until the economy and financial sector recover to a reasonable extent I think it's a little too early to say that house prices won't do what gold prices are doing.

Eta
The housing market is not currently fully functional or as an independent free market as it should be.

Whilst interest rates may be low and stay low for several years or perhaps even longer this cant be guaranteed, low interest rates and support by government schemes are providing life support to the housing market and subsequently the debt held by the banks, by not turning it into bad debt due to low or negative LTV ratios.

Fella

Get yourself a life OP, much better than worrying about what HPC-ers think.

IronWolf

If they live in the North and bought gold before 2007, I think theyre still laughing.

Still think its stupid to flip about with your home as an investment. Having a secure and pleasent place to live is most important imo.

Generali

IronWolf wrote: »

If they live in the North and bought gold before 2007, I think theyre still laughing.

Still think its stupid to flip about with your home as an investment. Having a secure and pleasent place to live is most important imo.

Living in the North is no laughing matter.

Graham_Devon

Can I ask an innocent, though probably rather dense question?

Why the hate over people who invest in gold? Why are the majority so pleased when they lose money?

I get the silver thing as we were inundated with silver talk. But I don't really get the reveling in the fact that gold has fallen in value. As far as I can tell, it doesn't effect any one of us?

Like I say, may be a stupid question and I may have missed something. But there's been a couple of other threads on the fall in the price of gold now, with excited commentary?

paul1964_2

Rent until prices fall....FAIL

Invest your money in gold.....FAIL

One only has to look at graphs of house prices and gold prices to see that the HPI obsessives on here live in a little world of their own.

HAMISH_MCTAVISH

Graham_Devon wrote: »

I don't really get the reveling in the fact that gold has fallen in value. As far as I can tell, it doesn't effect any one of us?

Krugman on why the Gold price matters.....

So, the slide in gold has turned into a rout. As Joe Weisenthal says, this should be seen as really good news, because it offers strong evidence that the goldbug/inflationista view of the world — which says that we need to stop all efforts at monetary and fiscal stimulus lest we turn into Weimar — is, in fact, all wrong.

But Joe is, I think, deluding himself if he imagines that this will make any difference. After all, the inflationista view of the world has been repeatedly, devastatingly wrong on many fronts — interest rates, inflation, the effects of austerity. Has anyone other than Narayana Kocherlakota (who deserves big props for intellectual flexibility) actually changed his or her mind in response?

In fact, by and large the goldbug response to each failed prediction has been to claim that evil government officials are hiding the truth. Interest rates are low? That’s because the Fed is suppressing them. How can it do that, year after year, without causing runaway inflation? Oh, actually we have runaway inflation, but the BLS is faking the numbers (and independent measures, like the Billion Prices Index, are part of the plot).

Sure enough, the response of many goldbugs to the latest events has been to cry conspiracy.

Maybe, just maybe, the gold crash will finally bring intellectual capitulation. But I wouldn’t bet on it.
http://krugman.blogs.nytimes.com

HAMISH_MCTAVISH

Or, as another publication puts it....

To respond to the economic crisis, economists and mainstream policy makers have favored highly unusual policy measures (massive Fed balance sheet expansion, massive stimulus, etc.). These ideas are usually based on years of traditional economic research (Keynesianism, monetarism, etc.).

All of these ideas have been slammed by heterodox types like Austrian economists, who have warned of hyperinflation, and gold going to $10,000.

So the collapse in gold is not about gold, but about vindication for a large corpus of belief and economic research, which has largely panned out.

It's great that our economic elites know what they're talking about, and have the tools at their disposal to address crises without creating some new catastrophe.

Things aren't great in the economy, but the collapse/hyperinflation fears haven't panned out, and the decline in gold is a manifestation of that.


Read more: http://www.businessinsider.com/the-gold-collapse-is-great-news-for-the-elites-2013-4#ixzz2Quw9ecqG

moneyinmypocket

The hpc chain gang won't admit defeat, they will carry on renting, hoping that prices fall which they never will

Conrad

Wi88le wrote: »

I think it's a little too early to say that house prices won't do what gold prices are doing.


Even when price fall, the rent income still in the main rolls in, not something we cannot say of gold.


Whilst interest rates may be low and stay low for several years or perhaps even longer this cant be guaranteed,


On this very cautios basis we might as well put-off buying forever as we might be ill, die, loose our job etc etc etc.

My replies in red.

You bears just need to know that the rest of us don't care if property is at absolute bottom, we just get on with things, buy, rent it out and take the long view. Your endless procrastination is not for us.