Debate House Prices


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Moneyweek: Why this housing crash is already worse than the 90s

http://www.moneyweek.com/file/48507/why-this-housing-crash-is-already-worse-than-in-the-1990s.html

Like a broken record, a spokesman for the Department for Communities and Local Government was wheeled out to speak to The Telegraph. “We are well placed to meet the challenges of the global credit crunch, the fundamentals of the economy are sound with low unemployment and historically low interest rates, and long-term demand for housing remains high."

It’s wonderful to watch these people self-destructing. Mendacity and spin has always been the way that they’ve brazened through problems in the past. So now they think that if they keep chanting the same ‘think positive’ mantras over and over again, that somehow their words will transform reality.

But redrawing the map doesn’t make a damn bit of difference to the territory. It just means that people get lost more often, and stop trusting in your ability to guide them. The British people are waking up to the fact that we’ve been living in a fantasy world for the past decade or so. It’s just a shame that it’s taken an economic catastrophe to do it.


Some good points in there on inflation and how it means there are no easy answers to 'save' the housing market.
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Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
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Comments

  • Alan_M_2
    Alan_M_2 Posts: 2,752 Forumite
    Mendacity? - I had to look that one up.

    Lets make that the word for today.
  • pickles110564
    pickles110564 Posts: 2,374 Forumite
    !!!!!!? wrote: »
    Some good points in there on inflation and how it means there are no easy answers to 'save' the housing market.

    Save it from what?
    Green shoots popping up everywhere, start looking for that new pad before you miss out.
  • slipthru
    slipthru Posts: 611 Forumite
    Part of the Furniture 500 Posts
    Save it from what?
    Green shoots popping up everywhere, start looking for that new pad before you miss out.

    I think we have a while yet before that market picks up don't you.
    In Progress!!!
  • m00m00
    m00m00 Posts: 1,755 Forumite
    Save it from what?
    Green shoots popping up everywhere, start looking for that new pad before you miss out.

    do you hear voices telling you what to do, as well ?
    It's a health benefit ...
  • Davesnave
    Davesnave Posts: 34,741 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Alan_M wrote: »
    Mendacity? - I had to look that one up.

    Lets make that the word for today.

    I used to use it on school reports for lying little gits. Nobody ever queried it!:rotfl:
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Alan_M wrote: »
    Mendacity? - I had to look that one up.

    Lets make that the word for today.

    It's a good word. Apparently 'mendicity' is also a word. It means beggar-like.
  • m00m00
    m00m00 Posts: 1,755 Forumite
    Mendicant is the archaic word for begger.

    it literally means, one who relies on the means of others to survive.


    so a bit like a Bank at the moment then.
    It's a health benefit ...
  • nzseries1
    nzseries1 Posts: 2,240 Forumite
    !!!!!!? wrote: »
    Some good points in there on inflation and how it means there are no easy answers to 'save' the housing market.

    I'm sure it's been said before, but the housing market doesn't need saving. This is a natural market correction.
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    m00m00 wrote: »
    Mendicant is the archaic word for begger.

    it literally means, one who relies on the means of others to survive.

    I've heard of the word mendicant but didn't make the link.
    m00m00 wrote: »
    so a bit like a Bank at the moment then.

    I reckon that a few of the banks are going to make an absolute killing out of all of this. DBS perhaps?
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