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Debate House Prices
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Almost there! Unemployment hits 7.1%
Comments
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Thrugelmir wrote: »The fact of the matter is that the BOE got it's employment forecast wrong. By around 2 years. However despite this there's little upward pressure on wages. Which in turn reduces the likelihood of upward inflationary pressures.
A few months ago we had Devon and his cronies wringing their hands that employment figures were going down because of part time work and zero hour contracts. Perhaps the BoE was forecasting job falls for real jobs?
Interesting that Devon now seems to have dropped his concerns about zero hour contracts and is now taking a stance that these are 'real jobs' and that the BoE should raise rates. As I have said many times, certain bearish posters have zero integrity or credibility because they change their stance so many times. They simply hang their hats on any argument that gives them what they want - house prices to fall and the country to go into recession so that they can pick up a cheap house, and to Hell with everybody else.0 -
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TheFactory wrote: »They are. Maybe they are overvalued to you but from my position I consider housing on the whole to be relatively cheap. All the indicators point to house prices rising, the market sets the value - not you
Well I have more saved and invested than the average house price is at the moment. I do not need to buy, as my employer pays my rent and for the company car plus insurance and petrol costs etc. The UK house prices are overvalued at the moment, only an idiot would say otherwise.0 -
Which takes me back to my original point. Do we need to get people to defer consumption at this point?
That's not your "original point"; that's a different question.....I keep asking you guys and no one wants to tell me why we would want to tighten monetary policy (raise interest rates) at a time of falling inflation and tentative recovery from recession. ....
Because the recovery won't remain "tentative" for ever. Something will change.0 -
Well I have more saved and invested than the average house price is at the moment. I do not need to buy, as my employer pays my rent and for the company car plus insurance and petrol costs etc. The UK house prices are overvalued at the moment, only an idiot would say otherwise.
Why didn't you buy to let when prices were very cheap in 2009 then?
Your money isn't earning anything like what it should be.
And, when you have to buy, prices will have far outstripped your saving additions.Bringing Happiness where there is Gloom!0 -
Why didn't you buy to let when prices were very cheap in 2009 then?
Your money isn't earning anything like what it should be.
And, when you have to buy, prices will have far outstripped your saving additions.
Exactly. Why would not buy into a rising market if only to let out whilst your own rent is paid for you?
I think there is only one idiot in this thread, but im not here to call names so I'd apprieciate it if you just stuck to the debate please pbouk. I respect your opinion, and refer you to my earlier post where I said only time will tell - historical trends are useless when trying to predict where we go from these unprecedented times.0 -
So we're not raising rates because of high inflation (it's now in the BoE's range) and we're not raising them because of an overheating economy (far from it) and with using your chart, you seem to be using the rather trite "raise them because they are too low" argument.
That's no way to run an economy, surely? Make decisions based on dogma rather than sound financial reasoning?
Theres a link when you see the long term chart since the heady inflation days of 1970....for long periods base rates were above.
I'm guessing within a few years the BOE will want move back in line .
http://proprateanalyst.files.wordpress.com/2010/06/rpi-base-rate1.jpg0 -
A few months ago we had Devon and his cronies wringing their hands that employment figures were going down because of part time work and zero hour contracts. Perhaps the BoE was forecasting job falls for real jobs?
Agreed. Suspect there's lots of people who would happily work more hours to increase their pay.
Restructuring the public sector will take some years yet. There's enormous productivity and cos savings to be made yet. As a spin off there'll be plenty of people looking for work in the private service sector. Which will hold down rate of increase in pay.0 -
Did you hear him state it with 'his own words'?
I keep asking you guys and no one wants to tell me why we would want to tighten monetary policy (raise interest rates) at a time of falling inflation and tentative recovery from recession. Do you want to have a go at explaining, Devon?
(please no trite "because interest rates are too low" nonsense).
Yes - there is a video of him on the Beeb. Or was yesterday.0 -
A few months ago we had Devon and his cronies wringing their hands that employment figures were going down because of part time work and zero hour contracts. Perhaps the BoE was forecasting job falls for real jobs?
Interesting that Devon now seems to have dropped his concerns about zero hour contracts and is now taking a stance that these are 'real jobs' and that the BoE should raise rates. As I have said many times, certain bearish posters have zero integrity or credibility because they change their stance so many times. They simply hang their hats on any argument that gives them what they want - house prices to fall and the country to go into recession so that they can pick up a cheap house, and to Hell with everybody else.
This is such nonsense. I've never dropped my concern about zero hour contracts, only the other day I was discussing them on here. Again you are simply making things up on the spot to create your argument.
Your post though is simply a post to have a go. As usual. It's a shame to see thrugel thanking it, but hey ho, each to their own.0
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