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Debate House Prices
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Brown aims to get housing market moving again
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Until about 72 hours ago AFAIK he didn't think there was any problem - least he's now acknowledged it - shame he didn't get off his ar** sooner.
Brown / NuLab were quite happy with house price inflation running at over 10% for the last few years (way above his beloved 2% CPI).
I think that says a lot about his economic competence.
IMO he's running scared because the UK economy runs on HPI & consumer spending. Without it we are fsked!0 -
Brown / NuLab were quite happy with house price inflation running at over 10% for the last few years (way above his beloved 2% CPI).
I think that says a lot about his economic competence.
IMO he's running scared because the UK economy runs on HPI & consumer spending. Without it we are fsked!
Indeed. And now he's trying to prop up the faltering economy and his own popularity by postponing the crash. He'll fail, of course.
You can't buck the market, Gordon. Despite her many faults, Thatcher was right on that one.0 -
Whoever is Prime Minister is irrelevant. The seeds of the current crisis were sown in the immediate post-9/11 era and loose credit. US and UK alike. If the Tories had been in power things would not be much different.
The UK has a decades-long problem in that the economy is too closely linked into the housing market. Somehow it needs decoupling - whether that will be possible in my lifetime is doubtful IMHO.0 -
Why is it a bad thing for houses to be cheap? Wouldnt that be a better market for all involved? Instead of mortgages sapping away all our earnings for a !!!!!! little hovel somewhere?0
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Why is house price inflation good, but food price inflation bad?Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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mr.broderick wrote: »The problem now neas is that houses will never ever be cheap.
People thought that before the last crash.
And then houses in yorkshire and newcastle were being sold for £500 each.
What worries me is that at the peak of the crash, where prices bottom out the banks may still be so financially screwed as to be unable to give anyone a mortgage, and then the big land speculators will come in and clean up, buying the entire nations housing stock for a song and forcing the entire nation into serfdom.
Everyone thinks the crash will be great because they'll be able to buy a home or expand their portfolio.
Well unless you've got £50k in cash stashed under your matress, I've bad news... you'll not be buying many houses.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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