Could this be the start of the big one?

OffGridLiving

ILW wrote: »

There is an argument that if rates here and across Europe had increased in the early 2000s, the whole crash could have been avoided.

That, and the kind of stringent mortgage lending criteria that has been brought in over the last few years, would have given us a sustainable housing market model.

It's no use making a statement "no more boom and bust", you have to put regulations in place to ensure it. The withdrawl/restriction of Interest Only, removal of Self Certification and +100% mortgages are all steps in the right direction and hopefully we'll not see lending this loose again.

grizzly1911

OffGridLiving wrote: »

That, and the kind of stringent mortgage lending criteria that has been brought in over the last few years, would have given us a sustainable housing market model.

I agree it would have smoothed things out and left many in a less precarious position, perhaps reducing the need for the props that are now in place.

Resulting prices may be more affordable now.

But the underlying growing demand for accommodation was not being fulfilled even at the top of the mad times. That demand wasn't being met then so there underlying problem would still exist.

I am not suer how high rates here would have stopped foreign money pouring into the London/SE and inflating the market there.

An ITV programme running at the moment with Ben Fogle, hilighted last week, that out of 60 properties brought in Sandbanks, Poole - 55 were cash purchases. I appreciate this is the top end of the market. This is one area where the effects of wealth do trickle down, pulling the prices up.

ILW

OffGridLiving wrote: »

That, and the kind of stringent mortgage lending criteria that has been brought in over the last few years, would have given us a sustainable housing market model.

It's no use making a statement "no more boom and bust", you have to put regulations in place to ensure it. The withdrawl/restriction of Interest Only, removal of Self Certification and +100% mortgages are all steps in the right direction and hopefully we'll not see lending this loose again.

The housing boom was only a small part of the problem (except possibly in Ireland and Spain). Just that cheap and easy credit meant whole nations were living way beyond their means for a decade or so. It had to fall over at some point. US sub prime was just the catalyst, not the cause.

Generali

OffGridLiving wrote: »

People do seem to take offense quite easily in here, there isn't the 'easy banter' that you find in other forums.

A while back I made a joke about Thrugelmir's short sentences in a particular post (which he received in good grace) but someone else took offence for him. I guess the difference was that I had a bit of history with Thrugelmir as we'd been on a couple of previous threads agreeing with each others points and so Thrugelmir knew my post was meant kindly, whereas the other poster who took offence, didn't?

It's difficult to get humour across sometimes in textual format, but perhaps a few necks need to be pulled in too?

I agree with what you say but at the same time it's quite nice to be in a civilized corner of the Interweb.

It's very tedious being called a f...ing idiot just because you disagree with someone.

N1AK

Graham_Devon wrote: »

To be fair, I think he was looking a bit further than 3 years ahead. He was looking at the point at which we have to reverse the stimulus. That point hasn't yet happened....though it seems were at a turning point, which may just end up to be another juncture in the road.

Reversing the stimulus isn't what this article or the current concern is about though. Everyone knew we'd see markets react to the news that printing in the US would end/fall.

The worry at the moment is that China's financial sector is showing signs of weakness. Given the impact China has on the world economy having a major crisis there when the rest of the world's economies are already weak is a considerable threat. So unless your analysts concerns were related to China then I don't really see what relevance it has to this.

IveSeenTheLight

wotsthat wrote: »

Is 5live the poor man's Radio 4?

I quite like 5Live.
They try to put both sides of debate forward with balance.

wotsthat

IveSeenTheLight wrote: »

I quite like 5Live.
They try to put both sides of debate forward with balance.

The arguments are balanced but only because the callers are either really for an idea or really against it. Reminds me of Jeremy Vine on Radio 2 - maybe people who hold a balanced view don't 'phone radio stations in the first place?

I just wonder why they don't put it on FM so it becomes a realistic choice for more people. It's as if the BBC are trying to keep listening figures down.

IveSeenTheLight

wotsthat wrote: »

The arguments are balanced but only because the callers are either really for an idea or really against it. Reminds me of Jeremy Vine on Radio 2 - maybe people who hold a balanced view don't 'phone radio stations in the first place?

I just wonder why they don't put it on FM so it becomes a realistic choice for more people. It's as if the BBC are trying to keep listening figures down.

Totally agree the views can be passionate, but to be fair they make sure that they obtain the balanced view by giving the opposite viewpoints to be heard.

robmatic

IveSeenTheLight wrote: »

Totally agree the views can be passionate, but to be fair they make sure that they obtain the balanced view by giving the opposite viewpoints to be heard.

Balance isn't just about opposing extreme viewpoints though.

I'm pretty sure the BBC's dream pairing for a discussion about religion would be a representative of Westboro Baptist Church and some Muslim guy with a beard and a hook.

grizzly1911

wotsthat wrote: »

Is 5live the poor man's Radio 4?

wotsthat wrote: »

I just wonder why they don't put it on FM so it becomes a realistic choice for more people. It's as if the BBC are trying to keep listening figures down.

Available on DAB so guess it isn't for the poor man.;)

I dislike the Vine format as they go with a headline but never seem to really get under the skin, just have a small scratch at sound bites.