50% house price falls

bargainbarmy

Pobby wrote: »

Just a point,do you not think that the lenders will now be a little more careful to whom they lend money to.
http://news.bbc.co.uk/1/hi/business/7010415.stm

Is it not possible that with the recent panic the lenders will perhaps review past applications?I think they call it fraud!

To me this article describes yet another factor that has distorted the market resulting in extreme prices.

The banks make incredible profits and costs of losing money from repossessions is usually covered by indemnities or just taken as ahit out of their huge profits. Money will still be asy to get hold of as stopping supply of that will cause a crash in itself and it will be the banks that lose out big style.

tr3mor

bargainbarmy wrote: »

Money will still be easy to get hold of

Have you been asleep for a fortnight?

bargainbarmy

tr3mor wrote: »

Have you been asleep for a fortnight?

Why what's happened?

dannyboycey

bargainbarmy wrote: »

Why what's happened?

And this from someone who works in the industry.

Incredible!

Well.... not really.

bargainbarmy

dannyboycey wrote: »

And this from someone who works in the industry.

Incredible!

Well.... not really.

Oh you mean the Northern Rock thingy...oh don't worry about that Gordon's gonna sort everybody out!!

:iloveyou:

dannyboycey

bargainbarmy wrote: »

Gordon's gonna sort everybody out!!

Who... Flash Gordon?

tr3mor

bargainbarmy wrote: »

Oh you mean the Northern Rock thingy...oh don't worry about that Gordon's gonna sort everybody out!!

:iloveyou:

You're confusing Gordon Brown with Ocean Finance!

whowants2brich

dannyboycey wrote: »

Yes. There are two schools of thought on this. He either wants to stay in power - in which case he'll call a snap election in the next few weeks. Sentiment towards him is as good as it's going to get and it's the only chance he'll have.

Or... He WANTS to lose and let the Tories appear responsible for his mistakes. A few years of an unstable economy, falling house prices, and possibly a recession for good measure and... Bingo! Labour get back in again after just a few years. (In which case he'll wait till things start going t*ts up next year before calling an election.)

As much as it sounds like a conspiracy theory, I'm edging towards the latter.

Oh no, please don't say that Labour want to take all the credit for the boom of the past 10 years, and make the Tories take the flack for the bust that Labour's been brewing for so long?

If that's going to be the case, I suggest we either all vote for Labour - not because we necessarily want them in power but because it'll be nice to see them trying to fix the issues that they've caused.

Alternatively, let's all sell up and leave this country, move far away from the UK economy - so that if/when it does implode, we won't be affected. That way, we'll kick-start the implosion by the mass exodus and increased number of properties for sale by those who want to leave this country.

On a separate note, why is it that LLs and lenders always talk up the market, whereas the rest of the population talk it down at the moment? It's only a matter of time before the lenders eat their humble pie, the BTL greedsters are forced to sell up, and Labour are forced to call a general election in a few years because the country's so screwed tha the cure for a recession is nowhere in sight...

*fastens his seatbelt for a bumpy ride*

bargainbarmy

dannyboycey wrote: »

Who... Flash Gordon?

No Gordon the Moron !:kisses3: :kisses3: :kisses3:

dannyboycey

whowants2brich wrote: »

Oh no, please don't say that Labour want to take all the credit for the boom of the past 10 years, and make the Tories take the flack for the bust that Labour's been brewing for so long?

Yep. Alternatively, we could just get involved in another war and blame it on that! I think the smarmy scot has a few cards up his sleeve. Either way, he wont take the blame.