Sprinkler Systems
Uhaul move
Lawn care
Roses and trees
Ford Parts
Chrysler Parts
Lake Powell
New IPod Touch Apps
New IPhone Apps
IPhone Apps
IPad Information
IPad Apps
Android APPS
Android Games APPS
Android Systems
Android Tablets APPS and Beyond
Smartphone Apps
Smartphone Games Apps Repair and Tools
Tablet PC
Car Sharing Car Leasing
Tabler Pc
Fly Fishing
Toyota Cars
Vacation Rentals
Stock market
NYSE
SSE Stock
Freight & Shipping News
Gluten
Lactose
Gout
My Coupon Life
Campgrounds Check
Outdoor
Kitchen Design and Redoo
Bath Remodeling
Palm Springs
Las Vegas Vacation Tipps
Lake Powell Boating
Homes for lease
|
Finances / Finanzen » uk.finance » King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large social
| King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large social [message #386544] |
Mi, 10 Mai 2006 17:03 |
|
Straight from the horse's mouth (King is not one of Brown's stooges of
course) .........
King sounds warning over economy
(Filed: 10/05/2006)
http://www.telegraph.co.uk/money/main.jhtml?xml=3D/money/200 6/05/10/uking10=
..xml&sSheet=3D/money/2006/05/10/ixcitytop.html
House prices are overvalued and consumer bankruptcies risk becoming a
large social problem, the Bank of England Governor Mervyn King has
warned.
Speaking at the launch of the Bank's May Inflation Report Mr King said:
"The level of house prices still seems remarkably high relative to
those measures that put it into context."
Recent gains in house prices had been more than the Monetary Policy
Committee, which sets interest rates, had expected but Mr King warned
this may not carry on as house prices are still high compared with
average earnings.
Mr King also warned a potentially large social problem of consumer
bankruptcies may be materialising.
He said: "The proportion of unsecured debtors reporting their debt as a
serious problem has gone up, the number of calls to the National Debt
Helpline has risen quite sharply, so I think the signs are that a
potentially large social problem, with many households getting into
difficulty with their debts, is materialising."
Last week, official figures showed that the number of people declaring
themselves insolvent was at its highest since records began - at 23,351
in the three months to March.
However, Mr King added: "The rate of increase in unsecured borrowing
has fallen very markedly in the last year. The position on secured debt
looks relatively benign."
Credit-card debt fell by =A3579m during March, showing that cardholders
are cutting back on their spending, according to figures from the
British Bankers' Association last week.
The country's current account deficit at around 4pc of GDP would need
to be addressed, according to Mr King, but he was unsure over what
time-frame this would need to be tackled.
He said: "We keep running current account deficits which means that
we're spending as a country more than we're producing. And there is a
limit in the long run to that."
Bank hints at interest rate rise
http://www.housepricecrash.co.uk/forum/index.php?showtopic=3 D29688
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386548 ] |
Mi, 10 Mai 2006 18:26 |
|
"Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
news:1147273387.652494.103630 [at] u72g2000cwu.googlegroups.com...
Straight from the horse's mouth (King is not one of Brown's stooges of
course) .........
King sounds warning over economy
(Filed: 10/05/2006)
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/ 05/10/uking10.xml&sSheet=/money/2006/05/10/ixcitytop.htm l
House prices are overvalued
I do wonder if these people live in the real world.
House prices are over valued, well maybe to you but to someone else, no.
The point of the housing market is that it doesn't work on what something is
really worth, talking about what a house is worth is missing the point and
not understanding it.
A house is worth what someone will pay for it.
If you really want to find what the worth of an house is itemise the
materials and costs for building it, that tells you how much it is, but you
won't find any house of that price, so in this regard all houses for have
been overpriced and always have been.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386549 ] |
Mi, 10 Mai 2006 18:32 |
|
"Chris.S" <Chris [at] postmaster.co.uk> wrote in message
news:4462142c$0$9236$ed2619ec [at] ptn-nntp-reader01.plus.net...
>
> "Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
> news:1147273387.652494.103630 [at] u72g2000cwu.googlegroups.com...
> Straight from the horse's mouth (King is not one of Brown's stooges of
> course) .........
>
> King sounds warning over economy
> (Filed: 10/05/2006)
>
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/ 05/10/uking10.xml&sSheet=/money/2006/05/10/ixcitytop.htm l
>
> House prices are overvalued
>
> I do wonder if these people live in the real world.
> House prices are over valued, well maybe to you but to someone else, no.
>
> The point of the housing market is that it doesn't work on what something
is
> really worth, talking about what a house is worth is missing the point and
> not understanding it.
>
> A house is worth what someone will pay for it.
>
> If you really want to find what the worth of an house is itemise the
> materials and costs for building it, that tells you how much it is, but
you
> won't find any house of that price, so in this regard all houses for have
> been overpriced and always have been.
>
>
Only until and unless the population drops dramatically (?bird flu), and the
supply/demand ratio changes.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386551 ] |
Mi, 10 Mai 2006 18:37 |
|
Chris.S wrote:
> A house is worth what someone will pay for it.
No. A house is worth _what a bank will lend someone_ to pay for it.
If King was worried about debts, he shouldn't have dropped UK interest
rates to insanely low levels. It's far too late now, the damage is
done... debts are vast, houses are probably the most overvalued on the
planet, inflation is only being kept down by outsourcing jobs and
shipping in vast numbers of cheap immigrants to work on minimum wage or
less, and global interest rates are rising.
He and Brown have utterly devastated the British economy: it will take
a generation to recover.
Mark
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386552 ] |
Mi, 10 Mai 2006 18:39 |
|
Chris.S wrote:
> "Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
> news:1147273387.652494.103630 [at] u72g2000cwu.googlegroups.com...
> Straight from the horse's mouth (King is not one of Brown's stooges of
> course) .........
>
> King sounds warning over economy
> (Filed: 10/05/2006)
> http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/ 05/10/uking10.xml&sSheet=/money/2006/05/10/ixcitytop.htm l
>
> House prices are overvalued
>
> I do wonder if these people live in the real world.
> House prices are over valued, well maybe to you but to someone else, no.
While I'm all for people doing their own research and making their own
minds up I think I'd place more credence on the views of the governor
of the Bank of England than the ramblings of an internet stalker like
you Slimey.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386553 ] |
Mi, 10 Mai 2006 18:43 |
|
"Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
news:1147279186.031860.211080 [at] g10g2000cwb.googlegroups.com...
>
> Chris.S wrote:
>> "Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
>> news:1147273387.652494.103630 [at] u72g2000cwu.googlegroups.com...
>> Straight from the horse's mouth (King is not one of Brown's stooges of
>> course) .........
>>
>> King sounds warning over economy
>> (Filed: 10/05/2006)
>> http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/ 05/10/uking10.xml&sSheet=/money/2006/05/10/ixcitytop.htm l
>>
>> House prices are overvalued
>>
>> I do wonder if these people live in the real world.
>> House prices are over valued, well maybe to you but to someone else, no.
>
> While I'm all for people doing their own research and making their own
> minds up I think I'd place more credence on the views of the governor
> of the Bank of England than the ramblings of an internet stalker like
> you Slimey.
LOL ! ;))
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386555 ] |
Mi, 10 Mai 2006 18:49 |
|
Miss L. Toe wrote:
>
> Only until and unless the population drops dramatically (?bird flu), and the
> supply/demand ratio changes.
There's more to it than simple supply and demand as evidenced by the
historically large inventory of houses on estate agent's books and the
shortage of buyers for them particularly at these prices.
This house price bubble has been fed by the massive availability in
recent years of cheap easy credit much of it borrowed by western banks
from eastern banks at low rates of interest and then lent to borrowers
over here at higher rates of interest. (known as the carry trade) This
global liquidity is beginning to dry up. Credit tightening is on the
way. Would be buyers won't be able to raise the credit to pay these
inflated prices and the bubble will burst.
Read this on the ending of the Japanese carry trade and it's likely
consequences ...........
http://www.moneyweek.com/file/8842/how-stoozing-could-bring- down-the-global-economy.html
............what about all the other massively inflated asset bubbles
around the world? David Bloom, HSBC currency strategist tells The
Telegraph: "The carry trade has pervaded every single instrument
imaginable, credit spreads, bonds spreads: everything is poisoned.
"It's going to come to an end later this year and it's going to be
ugly."
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386556 ] |
Mi, 10 Mai 2006 18:50 |
|
<mmaker [at] my-deja.com> wrote in message
news:1147279044.322941.276950 [at] u72g2000cwu.googlegroups.com...
> Chris.S wrote:
> > A house is worth what someone will pay for it.
>
> No. A house is worth _what a bank will lend someone_ to pay for it.
Wrong.
A house is worth what you are willing to pay for it, you then may or may not
need to go to a bank where they may or may not agree to give you the money.
Whether a bank gives you money says nothing regarding the worth of the house
but more about your credit risk.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386557 ] |
Mi, 10 Mai 2006 18:53 |
|
"Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
news:1147279186.031860.211080 [at] g10g2000cwb.googlegroups.com...
>
> Chris.S wrote:
> > "Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
> > news:1147273387.652494.103630 [at] u72g2000cwu.googlegroups.com...
> > Straight from the horse's mouth (King is not one of Brown's stooges of
> > course) .........
> >
> > King sounds warning over economy
> > (Filed: 10/05/2006)
> >
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/ 05/10/uking10.xml&sSheet=/money/2006/05/10/ixcitytop.htm l
> >
> > House prices are overvalued
> >
> > I do wonder if these people live in the real world.
> > House prices are over valued, well maybe to you but to someone else, no.
>
> While I'm all for people doing their own research and making their own
> minds up I think I'd place more credence on the views of the governor
> of the Bank of England than the ramblings of an internet stalker like
> you Slimey.
These are the same people who you swallow every line they spill out, for
which you have been predicting a house price crash for goodness knows how
long.
You and they have been consistently wrong and will continue to be as they
miss the point.
Whether there is a crash or not has nothing to do what a house is worth.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386558 ] |
Mi, 10 Mai 2006 18:59 |
|
Chris.S wrote:
..
> "Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
> news:1147279186.031860.211080 [at] g10g2000cwb.googlegroups.com...
> >
> > Chris.S wrote:
> > > "Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
> > > news:1147273387.652494.103630 [at] u72g2000cwu.googlegroups.com...
> > > Straight from the horse's mouth (King is not one of Brown's stooges of
> > > course) .........
> > >
> > > King sounds warning over economy
> > > (Filed: 10/05/2006)
> > >
> http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/ 05/10/uking10.xml&sSheet=/money/2006/05/10/ixcitytop.htm l
> > >
> > > House prices are overvalued
> > >
> > > I do wonder if these people live in the real world.
> > > House prices are over valued, well maybe to you but to someone else, no.
> >
> > While I'm all for people doing their own research and making their own
> > minds up I think I'd place more credence on the views of the governor
> > of the Bank of England than the ramblings of an internet stalker like
> > you Slimey.
>
> These are the same people who you swallow every line they spill out, for
> which you have been predicting a house price crash for goodness knows how
> long.
> You and they have been consistently wrong and will continue to be as they
> miss the point.
> Whether there is a crash or not has nothing to do what a house is worth.
Stop trying to pretend you know anything about it lamebrain.
You're just a fuckwit, a stallker, and a troll. Live with it and stop
trying to get above yourself.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386559 ] |
Mi, 10 Mai 2006 19:02 |
|
"Chris.S" <Chris [at] postmaster.co.uk> wrote in message
news:446219dc$0$9230$ed2619ec [at] ptn-nntp-reader01.plus.net...
>
> <mmaker [at] my-deja.com> wrote in message
> news:1147279044.322941.276950 [at] u72g2000cwu.googlegroups.com...
>> Chris.S wrote:
>> > A house is worth what someone will pay for it.
>>
>> No. A house is worth _what a bank will lend someone_ to pay for it.
>
> Wrong.
> A house is worth what you are willing to pay for it, you then may or may
> not
> need to go to a bank where they may or may not agree to give you the
> money.
> Whether a bank gives you money says nothing regarding the worth of the
> house
> but more about your credit risk.
Slimey, the point he's making is that fewer and fewer people are *earning*
enough to be considered by the banks for a mortgage on a half-decent
property.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386560 ] |
Mi, 10 Mai 2006 19:04 |
|
"Chris.S" <Chris [at] postmaster.co.uk> wrote in message
news:4462142c$0$9236$ed2619ec [at] ptn-nntp-reader01.plus.net...
> House prices are overvalued
>
> I do wonder if these people live in the real world.
> House prices are over valued, well maybe to you but to someone else, no.
>
> The point of the housing market is that it doesn't work on what something is
> really worth, talking about what a house is worth is missing the point and
> not understanding it.
>
> A house is worth what someone will pay for it.
Well obviously, but you've missed the point. On that basis dot.com shares weren't
overvalued in 2000. The point is that he reckons "what people are willing to pay" is
too high.
--
Andy
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386561 ] |
Mi, 10 Mai 2006 19:04 |
|
"Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
news:1147280394.223543.61280 [at] u72g2000cwu.googlegroups.com...
>
> Chris.S wrote:
> .
>
> > "Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
> > news:1147279186.031860.211080 [at] g10g2000cwb.googlegroups.com...
> > >
> > > Chris.S wrote:
> > > > "Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
> > > > news:1147273387.652494.103630 [at] u72g2000cwu.googlegroups.com...
> > > > Straight from the horse's mouth (King is not one of Brown's stooges
of
> > > > course) .........
> > > >
> > > > King sounds warning over economy
> > > > (Filed: 10/05/2006)
> > > >
> >
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/ 05/10/uking10.xml&sSheet=/money/2006/05/10/ixcitytop.htm l
> > > >
> > > > House prices are overvalued
> > > >
> > > > I do wonder if these people live in the real world.
> > > > House prices are over valued, well maybe to you but to someone else,
no.
> > >
> > > While I'm all for people doing their own research and making their own
> > > minds up I think I'd place more credence on the views of the governor
> > > of the Bank of England than the ramblings of an internet stalker like
> > > you Slimey.
> >
> > These are the same people who you swallow every line they spill out, for
> > which you have been predicting a house price crash for goodness knows
how
> > long.
> > You and they have been consistently wrong and will continue to be as
they
> > miss the point.
> > Whether there is a crash or not has nothing to do what a house is worth.
>
> Stop trying to pretend you know anything about it lamebrain.
You're the one who has for, how long is it, been crying that there would be
a crash.
It is you who swallows every report without the ability to think it through,
not I.
You already got zero credibility in regard to predicting a crash.
> You're just a fuckwit, a stallker, and a troll. Live with it and stop
> trying to get above yourself.
Who is it that is incapable of debate, not me, it is you who is abusive.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386562 ] |
Mi, 10 Mai 2006 19:09 |
|
Chris.S wrote:
> Who is it that is incapable of debate, not me, it is you who is abusive.
Don't try stalking me Slimey you attention seeking little prick. I
don't play games with knobheads like you.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386563 ] |
Mi, 10 Mai 2006 19:13 |
|
"Andy Pandy" <spam8times [at] wonderful.spam.invalid> wrote in message
news:4cekoeF154mndU1 [at] individual.net...
>
> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> news:4462142c$0$9236$ed2619ec [at] ptn-nntp-reader01.plus.net...
> > House prices are overvalued
> >
> > I do wonder if these people live in the real world.
> > House prices are over valued, well maybe to you but to someone else, no.
> >
> > The point of the housing market is that it doesn't work on what
something is
> > really worth, talking about what a house is worth is missing the point
and
> > not understanding it.
> >
> > A house is worth what someone will pay for it.
>
> Well obviously, but you've missed the point. On that basis dot.com shares
weren't
> overvalued in 2000. The point is that he reckons "what people are willing
to pay" is
> too high.
But most have little choice because of the market.
It is still (in the long term) cheaper than renting.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386564 ] |
Mi, 10 Mai 2006 19:09 |
|
"Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
news:KM2dnQQUdNjxgf_ZRVnysA [at] giganews.com...
>
> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> news:446219dc$0$9230$ed2619ec [at] ptn-nntp-reader01.plus.net...
> >
> > <mmaker [at] my-deja.com> wrote in message
> > news:1147279044.322941.276950 [at] u72g2000cwu.googlegroups.com...
> >> Chris.S wrote:
> >> > A house is worth what someone will pay for it.
> >>
> >> No. A house is worth _what a bank will lend someone_ to pay for it.
> >
> > Wrong.
> > A house is worth what you are willing to pay for it, you then may or may
> > not
> > need to go to a bank where they may or may not agree to give you the
> > money.
> > Whether a bank gives you money says nothing regarding the worth of the
> > house
> > but more about your credit risk.
>
> Slimey, the point he's making is that fewer and fewer people are *earning*
> enough to be considered by the banks for a mortgage on a half-decent
> property.
Exley, in that case the market will adjust itself, it's called market forces
something alien to the BNP I know.
Of course adjustment doesn't mean crash as other variables come to mind,
such as supply and demand.
I suggest the reason why prices are high is that interest rates are low and
demand out strips supply.
If banks stop lending high amount then there will be no demand at high
prices, it doesn't mean that banks won't lend at all, just not at amount
that buyers want to borrow, hence no crash.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386565 ] |
Mi, 10 Mai 2006 19:12 |
|
"Andy Pandy" <spam8times [at] wonderful.spam.invalid> wrote in message
news:4cekoeF154mndU1 [at] individual.net...
>
> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> news:4462142c$0$9236$ed2619ec [at] ptn-nntp-reader01.plus.net...
> > House prices are overvalued
> >
> > I do wonder if these people live in the real world.
> > House prices are over valued, well maybe to you but to someone else, no.
> >
> > The point of the housing market is that it doesn't work on what
something is
> > really worth, talking about what a house is worth is missing the point
and
> > not understanding it.
> >
> > A house is worth what someone will pay for it.
>
> Well obviously, but you've missed the point. On that basis dot.com shares
weren't
> overvalued in 2000. The point is that he reckons "what people are willing
to pay" is
> too high.
I would never make the mistake of comparing a asset such as an house with
the dot com shares.
They were pretty meaningless as there was no real assets there.
with property there is always an asset as people always need homes to live
in don't they.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386566 ] |
Mi, 10 Mai 2006 19:13 |
|
"Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
news:1147280947.085707.116770 [at] j73g2000cwa.googlegroups.com...
>
> Chris.S wrote:
> > Who is it that is incapable of debate, not me, it is you who is abusive.
>
> Don't try stalking me Slimey you attention seeking little prick. I
> don't play games with knobheads like you.
Translation, Crowley is out of his depth
PS, when is the latest house price crash then?
snigger
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386567 ] |
Mi, 10 Mai 2006 19:22 |
|
"Chris.S" <Chris [at] postmaster.co.uk> wrote in message
news:44621ed9$0$9267$ed2619ec [at] ptn-nntp-reader01.plus.net...
>
> "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
> news:KM2dnQQUdNjxgf_ZRVnysA [at] giganews.com...
>>
>> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
>> news:446219dc$0$9230$ed2619ec [at] ptn-nntp-reader01.plus.net...
>> >
>> > <mmaker [at] my-deja.com> wrote in message
>> > news:1147279044.322941.276950 [at] u72g2000cwu.googlegroups.com...
>> >> Chris.S wrote:
>> >> > A house is worth what someone will pay for it.
>> >>
>> >> No. A house is worth _what a bank will lend someone_ to pay for it.
>> >
>> > Wrong.
>> > A house is worth what you are willing to pay for it, you then may or
>> > may
>> > not
>> > need to go to a bank where they may or may not agree to give you the
>> > money.
>> > Whether a bank gives you money says nothing regarding the worth of the
>> > house
>> > but more about your credit risk.
>>
>> Slimey, the point he's making is that fewer and fewer people are
>> *earning*
>> enough to be considered by the banks for a mortgage on a half-decent
>> property.
>
> Exley,
Who ? I might remind you to watch what you say here, Slimey.
> in that case the market will adjust itself, it's called market forces
> something alien to the BNP I know.
LOL ! Slimey the arch-capitalist !
> Of course adjustment doesn't mean crash as other variables come to mind,
> such as supply and demand.
> I suggest the reason why prices are high is that interest rates are low
> and
> demand out strips supply.
> If banks stop lending high amount then there will be no demand at high
> prices, it doesn't mean that banks won't lend at all, just not at amount
> that buyers want to borrow, hence no crash.
LOL ! Slimey the "economist" ... almost too painful for words, isn't it ?
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386568 ] |
Mi, 10 Mai 2006 19:23 |
|
"Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
news:1147279771.720655.215310 [at] i39g2000cwa.googlegroups.com...
>
> Miss L. Toe wrote:
> >
> > Only until and unless the population drops dramatically (?bird flu), and
the
> > supply/demand ratio changes.
>
> There's more to it than simple supply and demand as evidenced by the
> historically large inventory of houses on estate agent's books and the
> shortage of buyers for them particularly at these prices.
>
I dont see eveidence of this.
> This house price bubble has been fed by the massive availability in
> recent years of cheap easy credit much of it borrowed by western banks
> from eastern banks at low rates of interest and then lent to borrowers
> over here at higher rates of interest. (known as the carry trade) This
> global liquidity is beginning to dry up. Credit tightening is on the
> way. Would be buyers won't be able to raise the credit to pay these
> inflated prices and the bubble will burst.
>
So what eveidence do you have that Japanese 0% loans are being used to fund
house purchases in the UK ?
> Read this on the ending of the Japanese carry trade and it's likely
> consequences ...........
>
http://www.moneyweek.com/file/8842/how-stoozing-could-bring- down-the-global-economy.html
> ...........what about all the other massively inflated asset bubbles
> around the world? David Bloom, HSBC currency strategist tells The
> Telegraph: "The carry trade has pervaded every single instrument
> imaginable, credit spreads, bonds spreads: everything is poisoned.
> "It's going to come to an end later this year and it's going to be
> ugly."
>
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386569 ] |
Mi, 10 Mai 2006 19:28 |
|
"Chris.S" <Chris [at] postmaster.co.uk> wrote in message
news:44621f07$0$9250$ed2619ec [at] ptn-nntp-reader01.plus.net...
>
> "> > > A house is worth what someone will pay for it.
> >
> > Well obviously, but you've missed the point. On that basis dot.com shares
> weren't
> > overvalued in 2000. The point is that he reckons "what people are willing
> to pay" is
> > too high.
>
> I would never make the mistake of comparing a asset such as an house with
> the dot com shares.
> They were pretty meaningless as there was no real assets there.
> with property there is always an asset as people always need homes to live
> in don't they.
So what? The principle is the same. Just because an asset is "real" or "needed"
doesn't mean it can't be overvalued.
--
Andy
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386570 ] |
Mi, 10 Mai 2006 19:27 |
|
"Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
news:75mdnTVpxYWPvP_ZnZ2dnUVZ8tKdnZ2d [at] giganews.com...
>
> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> news:44621ed9$0$9267$ed2619ec [at] ptn-nntp-reader01.plus.net...
> >
> > "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
> > news:KM2dnQQUdNjxgf_ZRVnysA [at] giganews.com...
> >>
> >> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> >> news:446219dc$0$9230$ed2619ec [at] ptn-nntp-reader01.plus.net...
> >> >
> >> > <mmaker [at] my-deja.com> wrote in message
> >> > news:1147279044.322941.276950 [at] u72g2000cwu.googlegroups.com...
> >> >> Chris.S wrote:
> >> >> > A house is worth what someone will pay for it.
> >> >>
> >> >> No. A house is worth _what a bank will lend someone_ to pay for it.
> >> >
> >> > Wrong.
> >> > A house is worth what you are willing to pay for it, you then may or
> >> > may
> >> > not
> >> > need to go to a bank where they may or may not agree to give you the
> >> > money.
> >> > Whether a bank gives you money says nothing regarding the worth of
the
> >> > house
> >> > but more about your credit risk.
> >>
> >> Slimey, the point he's making is that fewer and fewer people are
> >> *earning*
> >> enough to be considered by the banks for a mortgage on a half-decent
> >> property.
> >
> > Exley,
>
> Who ? I might remind you to watch what you say here, Slimey.
Why, are there people who are against free speech, Exley, uh?
> > in that case the market will adjust itself, it's called market forces
> > something alien to the BNP I know.
>
> LOL ! Slimey the arch-capitalist !
It's called the real world X.
> > Of course adjustment doesn't mean crash as other variables come to mind,
> > such as supply and demand.
> > I suggest the reason why prices are high is that interest rates are low
> > and
> > demand out strips supply.
> > If banks stop lending high amount then there will be no demand at high
> > prices, it doesn't mean that banks won't lend at all, just not at amount
> > that buyers want to borrow, hence no crash.
>
> LOL ! Slimey the "economist" ... almost too painful for words, isn't it
?
Try not thinking if it hurts.
rotfl
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386571 ] |
Mi, 10 Mai 2006 19:31 |
|
Chris X wrote:
>
> LOL ! Slimey the "economist" ... almost too painful for words, isn't it ?
Pathetic isn't it. Poor Slimey. He's trying his best but the retarded
fuckwit really hasn't got a clue.
I can't be arsed wasting any more time on him. He's a typical
attention-seeking moron with an emotional age of three. Whatever you
say to him he will take the opposite line to try to "test you out". I
believe the child psychiatrists call it "acting-out".
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386572 ] |
Mi, 10 Mai 2006 19:32 |
|
"Miss L. Toe" <missltoemissltoe [at] hotmail.com> wrote in message
news:44621f5b$0$64670$892e7fe2 [at] authen.yellow.readfreenews.net...
> > > A house is worth what someone will pay for it.
> >
> > Well obviously, but you've missed the point. On that basis dot.com shares
> weren't
> > overvalued in 2000. The point is that he reckons "what people are willing
> to pay" is
> > too high.
>
> But most have little choice because of the market.
> It is still (in the long term) cheaper than renting.
The problem with the market is that people now have more "property per person" than
they used to. That is a choice, usually made by people with more money than sense
who reckon having a house with 2 spare bedrooms is "a good investment".
--
Andy
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386573 ] |
Mi, 10 Mai 2006 19:33 |
|
"Chris.S" <Chris [at] postmaster.co.uk> wrote in message
news:44622273$0$9272$ed2619ec [at] ptn-nntp-reader01.plus.net...
>
> "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
> news:75mdnTVpxYWPvP_ZnZ2dnUVZ8tKdnZ2d [at] giganews.com...
>>
>> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
>> news:44621ed9$0$9267$ed2619ec [at] ptn-nntp-reader01.plus.net...
>> >
>> > "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
>> > news:KM2dnQQUdNjxgf_ZRVnysA [at] giganews.com...
>> >>
>> >> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
>> >> news:446219dc$0$9230$ed2619ec [at] ptn-nntp-reader01.plus.net...
>> >> >
>> >> > <mmaker [at] my-deja.com> wrote in message
>> >> > news:1147279044.322941.276950 [at] u72g2000cwu.googlegroups.com...
>> >> >> Chris.S wrote:
>> >> >> > A house is worth what someone will pay for it.
>> >> >>
>> >> >> No. A house is worth _what a bank will lend someone_ to pay for it.
>> >> >
>> >> > Wrong.
>> >> > A house is worth what you are willing to pay for it, you then may or
>> >> > may
>> >> > not
>> >> > need to go to a bank where they may or may not agree to give you the
>> >> > money.
>> >> > Whether a bank gives you money says nothing regarding the worth of
> the
>> >> > house
>> >> > but more about your credit risk.
>> >>
>> >> Slimey, the point he's making is that fewer and fewer people are
>> >> *earning*
>> >> enough to be considered by the banks for a mortgage on a half-decent
>> >> property.
>> >
>> > Exley,
>>
>> Who ? I might remind you to watch what you say here, Slimey.
>
> Why, are there people who are against free speech, Exley, uh?
Exley ? Who's that then ? Be more specific ... if you dare ;)
>> > in that case the market will adjust itself, it's called market forces
>> > something alien to the BNP I know.
>>
>> LOL ! Slimey the arch-capitalist !
>
> It's called the real world X.
ROTFLMAO ! Is that the real world Slimey where you can't ever hope to get a
mortgage - even for a £30,000 terraced dump in Wigan - due to your
"condition" ? ;)
>> > Of course adjustment doesn't mean crash as other variables come to
>> > mind,
>> > such as supply and demand.
>> > I suggest the reason why prices are high is that interest rates are low
>> > and demand out strips supply.
>> > If banks stop lending high amount then there will be no demand at high
>> > prices, it doesn't mean that banks won't lend at all, just not at
>> > amount
>> > that buyers want to borrow, hence no crash.
>>
>> LOL ! Slimey the "economist" ... almost too painful for words, isn't it
>> ?
>
> Try not thinking if it hurts.
Slimey, the concept of you with even one foot in the real world is just too
horrific to comprehend ... you'd spoil it for the rest of us !
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386574 ] |
Mi, 10 Mai 2006 19:34 |
|
Miss L. Toe wrote:
> But most have little choice because of the market.
> It is still (in the long term) cheaper than renting.
Only if you assume there's going to be high wage inflation, or Blair
will actually succeed in bringing tens of millions of immigrants to the
UK in the next few years.
If interest rates return to normal levels, the average house price will
drop about 100,000 pounds. That would pay for quite a few years of
renting with low wage inflation (and therefore low rent inflation).
Anyone buying a house at today's prices is betting on high wage
inflation when British jobs are being outsourced en masse and other
jobs are being replaced by cheap immigrants. To me, that's... brave.
Anyway, doesn't matter to me. There's no way I'm enslaving myself to
the bank for the rest of my life just to buy a bloody two-bed
ex-council terrace in a street full of chavs.
Mark
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386575 ] |
Mi, 10 Mai 2006 19:39 |
|
"Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
news:1147282304.219998.240250 [at] v46g2000cwv.googlegroups.com...
>
> Chris X wrote:
>>
>> LOL ! Slimey the "economist" ... almost too painful for words, isn't it
>> ?
>
> Pathetic isn't it. Poor Slimey. He's trying his best but the retarded
> fuckwit really hasn't got a clue.
>
> I can't be arsed wasting any more time on him. He's a typical
> attention-seeking moron with an emotional age of three. Whatever you
> say to him he will take the opposite line to try to "test you out". I
> believe the child psychiatrists call it "acting-out".
Quite.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386576 ] |
Mi, 10 Mai 2006 19:37 |
|
"Andy Pandy" <spam8times [at] wonderful.spam.invalid> wrote in message
news:4cem6iF15inacU1 [at] individual.net...
>
> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> news:44621f07$0$9250$ed2619ec [at] ptn-nntp-reader01.plus.net...
> >
> > "> > > A house is worth what someone will pay for it.
> > >
> > > Well obviously, but you've missed the point. On that basis dot.com
shares
> > weren't
> > > overvalued in 2000. The point is that he reckons "what people are
willing
> > to pay" is
> > > too high.
> >
> > I would never make the mistake of comparing a asset such as an house
with
> > the dot com shares.
> > They were pretty meaningless as there was no real assets there.
> > with property there is always an asset as people always need homes to
live
> > in don't they.
>
> So what? The principle is the same. Just because an asset is "real" or
"needed"
> doesn't mean it can't be overvalued.
It isn't for the reasons I have explained.
Shares in dot coms where valued at a certain level, but when things got hard
there was nothing behind the businesses, no equity, no capital, nothing
A house is an asset, we can debate what it is worth but it is an asset
particularly as people need them to live in.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386577 ] |
Mi, 10 Mai 2006 19:41 |
|
"Andy Pandy" <spam8times [at] wonderful.spam.invalid> wrote in message
news:4ceme3F15etpeU1 [at] individual.net...
>
> "Miss L. Toe" <missltoemissltoe [at] hotmail.com> wrote in message
> news:44621f5b$0$64670$892e7fe2 [at] authen.yellow.readfreenews.net...
> > > > A house is worth what someone will pay for it.
> > >
> > > Well obviously, but you've missed the point. On that basis dot.com
shares
> > weren't
> > > overvalued in 2000. The point is that he reckons "what people are
willing
> > to pay" is
> > > too high.
> >
> > But most have little choice because of the market.
> > It is still (in the long term) cheaper than renting.
>
> The problem with the market is that people now have more "property per
person" than
> they used to. That is a choice, usually made by people with more money
than sense
> who reckon having a house with 2 spare bedrooms is "a good investment".
>
It probably is a good investment if you plan on starting a family, or
working from home :-)
Are you saying that the UK currently has a housing surplus ?
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386578 ] |
Mi, 10 Mai 2006 19:41 |
|
"Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
news:QL-dnQ7lfYpOvv_ZRVnyug [at] giganews.com...
>
> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> news:44622273$0$9272$ed2619ec [at] ptn-nntp-reader01.plus.net...
> >
> > "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
> > news:75mdnTVpxYWPvP_ZnZ2dnUVZ8tKdnZ2d [at] giganews.com...
> >>
> >> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> >> news:44621ed9$0$9267$ed2619ec [at] ptn-nntp-reader01.plus.net...
> >> >
> >> > "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
> >> > news:KM2dnQQUdNjxgf_ZRVnysA [at] giganews.com...
> >> >>
> >> >> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> >> >> news:446219dc$0$9230$ed2619ec [at] ptn-nntp-reader01.plus.net...
> >> >> >
> >> >> > <mmaker [at] my-deja.com> wrote in message
> >> >> > news:1147279044.322941.276950 [at] u72g2000cwu.googlegroups.com...
> >> >> >> Chris.S wrote:
> >> >> >> > A house is worth what someone will pay for it.
> >> >> >>
> >> >> >> No. A house is worth _what a bank will lend someone_ to pay for
it.
> >> >> >
> >> >> > Wrong.
> >> >> > A house is worth what you are willing to pay for it, you then may
or
> >> >> > may
> >> >> > not
> >> >> > need to go to a bank where they may or may not agree to give you
the
> >> >> > money.
> >> >> > Whether a bank gives you money says nothing regarding the worth of
> > the
> >> >> > house
> >> >> > but more about your credit risk.
> >> >>
> >> >> Slimey, the point he's making is that fewer and fewer people are
> >> >> *earning*
> >> >> enough to be considered by the banks for a mortgage on a half-decent
> >> >> property.
> >> >
> >> > Exley,
> >>
> >> Who ? I might remind you to watch what you say here, Slimey.
> >
> > Why, are there people who are against free speech, Exley, uh?
>
> Exley ? Who's that then ? Be more specific ... if you dare ;)
Having a Mike Baldwin moment are we
snigger!
> >> > in that case the market will adjust itself, it's called market forces
> >> > something alien to the BNP I know.
> >>
> >> LOL ! Slimey the arch-capitalist !
> >
> > It's called the real world X.
>
> ROTFLMAO ! Is that the real world Slimey where you can't ever hope to get
a
> mortgage - even for a £30,000 terraced dump in Wigan - due to your
> "condition" ? ;)
£30,000 in Wigan, when you find one tell me.
I see you've been stalking again
rotfl
> >> > Of course adjustment doesn't mean crash as other variables come to
> >> > mind,
> >> > such as supply and demand.
> >> > I suggest the reason why prices are high is that interest rates are
low
> >> > and demand out strips supply.
> >> > If banks stop lending high amount then there will be no demand at
high
> >> > prices, it doesn't mean that banks won't lend at all, just not at
> >> > amount
> >> > that buyers want to borrow, hence no crash.
> >>
> >> LOL ! Slimey the "economist" ... almost too painful for words, isn't
it
> >> ?
> >
> > Try not thinking if it hurts.
>
> Slimey, the concept of you with even one foot in the real world is just
too
> horrific to comprehend ... you'd spoil it for the rest of us !
Poor X, can't debate, won't debate, back under the bridge.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386579 ] |
Mi, 10 Mai 2006 19:46 |
|
<mmaker [at] my-deja.com> wrote in message
news:1147282445.922824.44770 [at] i40g2000cwc.googlegroups.com...
> Miss L. Toe wrote:
> > But most have little choice because of the market.
> > It is still (in the long term) cheaper than renting.
>
> Only if you assume there's going to be high wage inflation, or Blair
> will actually succeed in bringing tens of millions of immigrants to the
> UK in the next few years.
>
I'm not sure what immigration has to do with it, increased longevity is part
of the problem.
> If interest rates return to normal levels, the average house price will
> drop about 100,000 pounds. That would pay for quite a few years of
> renting with low wage inflation (and therefore low rent inflation).
>
What do you call normal levels ???
If interets rates drop people will be able to afford even bigger mortgages
and house prices will go up.
If interest rates rise significantly (most likely to try to protect a
falling pound) then that will cause problems.
> Anyone buying a house at today's prices is betting on high wage
> inflation when British jobs are being outsourced en masse and other
> jobs are being replaced by cheap immigrants. To me, that's... brave.
>
No, anyone buying a house at todays prices is betting prices wont go down
any time soon.
> Anyway, doesn't matter to me. There's no way I'm enslaving myself to
> the bank for the rest of my life just to buy a bloody two-bed
> ex-council terrace in a street full of chavs.
Doesn't matter to me either as my mortgage is paid off :-)
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386580 ] |
Mi, 10 Mai 2006 19:52 |
|
"Chris.S" <Chris [at] postmaster.co.uk> wrote in message
news:446224fd$0$9256$ed2619ec [at] ptn-nntp-reader01.plus.net...
> > > I would never make the mistake of comparing a asset such as an house
> with
> > > the dot com shares.
> > > They were pretty meaningless as there was no real assets there.
> > > with property there is always an asset as people always need homes to
> live
> > > in don't they.
> >
> > So what? The principle is the same. Just because an asset is "real" or
> "needed"
> > doesn't mean it can't be overvalued.
>
> It isn't for the reasons I have explained.
>
> Shares in dot coms where valued at a certain level, but when things got hard
> there was nothing behind the businesses, no equity, no capital, nothing
>
> A house is an asset, we can debate what it is worth but it is an asset
> particularly as people need them to live in.
The whole *point* is what it's worth, FFS. The point that houses are "an asset" or
"needed" is irrelvant, it's exactly the same asset at is was 10 years ago, if it was
worth £100,000 10 years ago but is now worth £300,000, then what does the extra
£200,000 respresent? The "asset" hasn't changed, the "need to live in it" hasn't
changed, but it's now worth £200,000 more. The £200,000 extra is no different to
£200,000 of dot.com shares.
--
Andy
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386581 ] |
Mi, 10 Mai 2006 19:55 |
|
"Andy Pandy" <spam8times [at] wonderful.spam.invalid> wrote in message
news:4cenirF15ntd2U1 [at] individual.net...
>
> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> news:446224fd$0$9256$ed2619ec [at] ptn-nntp-reader01.plus.net...
> > > > I would never make the mistake of comparing a asset such as an house
> > with
> > > > the dot com shares.
> > > > They were pretty meaningless as there was no real assets there.
> > > > with property there is always an asset as people always need homes
to
> > live
> > > > in don't they.
> > >
> > > So what? The principle is the same. Just because an asset is "real" or
> > "needed"
> > > doesn't mean it can't be overvalued.
> >
> > It isn't for the reasons I have explained.
> >
> > Shares in dot coms where valued at a certain level, but when things got
hard
> > there was nothing behind the businesses, no equity, no capital, nothing
> >
> > A house is an asset, we can debate what it is worth but it is an asset
> > particularly as people need them to live in.
>
> The whole *point* is what it's worth, FFS. The point that houses are "an
asset" or
> "needed" is irrelvant, it's exactly the same asset at is was 10 years ago,
if it was
> worth £100,000 10 years ago but is now worth £300,000, then what does the
extra
> £200,000 respresent? The "asset" hasn't changed, the "need to live in it"
hasn't
> changed, but it's now worth £200,000 more. The £200,000 extra is no
different to
> £200,000 of dot.com shares.
>
I think a comparison to the price of Gold might be more valid.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386582 ] |
Mi, 10 Mai 2006 19:57 |
|
"Chris.S" <Chris [at] postmaster.co.uk> wrote in message
news:446225e8$0$9231$ed2619ec [at] ptn-nntp-reader01.plus.net...
>
> "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
> news:QL-dnQ7lfYpOvv_ZRVnyug [at] giganews.com...
>>
>> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
>> news:44622273$0$9272$ed2619ec [at] ptn-nntp-reader01.plus.net...
>> >
>> > "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
>> > news:75mdnTVpxYWPvP_ZnZ2dnUVZ8tKdnZ2d [at] giganews.com...
>> >>
>> >> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
>> >> news:44621ed9$0$9267$ed2619ec [at] ptn-nntp-reader01.plus.net...
>> >> >
>> >> > "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
>> >> > news:KM2dnQQUdNjxgf_ZRVnysA [at] giganews.com...
>> >> >>
>> >> >> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
>> >> >> news:446219dc$0$9230$ed2619ec [at] ptn-nntp-reader01.plus.net...
>> >> >> >
>> >> >> > <mmaker [at] my-deja.com> wrote in message
>> >> >> > news:1147279044.322941.276950 [at] u72g2000cwu.googlegroups.com...
>> >> >> >> Chris.S wrote:
>> >> >> >> > A house is worth what someone will pay for it.
>> >> >> >>
>> >> >> >> No. A house is worth _what a bank will lend someone_ to pay for
> it.
>> >> >> >
>> >> >> > Wrong.
>> >> >> > A house is worth what you are willing to pay for it, you then may
> or
>> >> >> > may
>> >> >> > not
>> >> >> > need to go to a bank where they may or may not agree to give you
> the
>> >> >> > money.
>> >> >> > Whether a bank gives you money says nothing regarding the worth
>> >> >> > of
>> > the
>> >> >> > house
>> >> >> > but more about your credit risk.
>> >> >>
>> >> >> Slimey, the point he's making is that fewer and fewer people are
>> >> >> *earning*
>> >> >> enough to be considered by the banks for a mortgage on a
>> >> >> half-decent
>> >> >> property.
>> >> >
>> >> > Exley,
>> >>
>> >> Who ? I might remind you to watch what you say here, Slimey.
>> >
>> > Why, are there people who are against free speech, Exley, uh?
>>
>> Exley ? Who's that then ? Be more specific ... if you dare ;)
>
> Having a Mike Baldwin moment are we
Cowardice noted.
>> >> > in that case the market will adjust itself, it's called market
>> >> > forces
>> >> > something alien to the BNP I know.
>> >>
>> >> LOL ! Slimey the arch-capitalist !
>> >
>> > It's called the real world X.
>>
>> ROTFLMAO ! Is that the real world Slimey where you can't ever hope to
>> get
> a
>> mortgage - even for a £30,000 terraced dump in Wigan - due to your
>> "condition" ? ;)
>
> £30,000 in Wigan, when you find one tell me.
> I see you've been stalking again
Ok, £25,000 then !
>> >> > Of course adjustment doesn't mean crash as other variables come to
>> >> > mind,
>> >> > such as supply and demand.
>> >> > I suggest the reason why prices are high is that interest rates are
> low
>> >> > and demand out strips supply.
>> >> > If banks stop lending high amount then there will be no demand at
> high
>> >> > prices, it doesn't mean that banks won't lend at all, just not at
>> >> > amount
>> >> > that buyers want to borrow, hence no crash.
>> >>
>> >> LOL ! Slimey the "economist" ... almost too painful for words, isn't
> it
>> >> ?
>> >
>> > Try not thinking if it hurts.
>>
>> Slimey, the concept of you with even one foot in the real world is just
> too horrific to comprehend ... you'd spoil it for the rest of us !
>
> Poor X, can't debate, won't debate, back under the bridge.
ROTFLMAO !
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386583 ] |
Mi, 10 Mai 2006 19:56 |
|
"Miss L. Toe" <missltoemissltoe [at] hotmail.com> wrote in message
news:446225fd$0$14810$892e7fe2 [at] authen.yellow.readfreenews.net...
> > > But most have little choice because of the market.
> > > It is still (in the long term) cheaper than renting.
> >
> > The problem with the market is that people now have more "property per
> person" than
> > they used to. That is a choice, usually made by people with more money
> than sense
> > who reckon having a house with 2 spare bedrooms is "a good investment".
> >
>
> It probably is a good investment if you plan on starting a family, or
> working from home :-)
If you are going to use the space, then yes. But if you are just buying a big house
because some idiot down the pub told you to buy "as expensive a house as you can
afford", even if you don't need the space, then no.
> Are you saying that the UK currently has a housing surplus ?
Er, no, there's a shortage because of people doing as I have said, ie buying bigger
properties than the need, or second properties which they leave unoccupied most of
the time.
--
Andy
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386584 ] |
Mi, 10 Mai 2006 20:01 |
|
"Andy Pandy" <spam8times [at] wonderful.spam.invalid> wrote in message
news:4cenirF15ntd2U1 [at] individual.net...
>
> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> news:446224fd$0$9256$ed2619ec [at] ptn-nntp-reader01.plus.net...
> > > > I would never make the mistake of comparing a asset such as an house
> > with
> > > > the dot com shares.
> > > > They were pretty meaningless as there was no real assets there.
> > > > with property there is always an asset as people always need homes
to
> > live
> > > > in don't they.
> > >
> > > So what? The principle is the same. Just because an asset is "real" or
> > "needed"
> > > doesn't mean it can't be overvalued.
> >
> > It isn't for the reasons I have explained.
> >
> > Shares in dot coms where valued at a certain level, but when things got
hard
> > there was nothing behind the businesses, no equity, no capital, nothing
> >
> > A house is an asset, we can debate what it is worth but it is an asset
> > particularly as people need them to live in.
>
> The whole *point* is what it's worth, FFS. The point that houses are "an
asset" or
> "needed" is irrelvant
No it isn't and you are missing the point.
I can't explain why idiots buy shares in markets that have no assets, but
people buy houses to live in.
The decision making behind them is different for different reasons.
Typically when you buy a house you do this to live in, also in the knowledge
that it is an investment.
People will pay what they think it is worth to them, to live in it.
When someone buys a share in dot coms they do so to speculate, they don't
buy it on the basis of worth do they? but whether they think its share price
will go up.
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386585 ] |
Mi, 10 Mai 2006 20:07 |
|
On 10 May 2006 08:03:07 -0700, "Crowley" <crowleyalastair [at] yahoo.co.uk>
typed:
>Straight from the horse's mouth (King is not one of Brown's stooges of
>course) .........
who appointed him!
the 'report' below is inconsistent/incoherent....
therefore he's trying to talk down the economy......
now why would that be?
why is he threatening to tighten money?....that suggest labour will not go
for an early election....
the gov't and king have been inflating like there's no tomorrow.....
so what's he at? trying to shift the blame?
none of that below makes clear consistent sense....not that you
have a hope of following that....
>King sounds warning over economy
>(Filed: 10/05/2006)
> http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/ 05/10/uking10.xml&sSheet=/money/2006/05/10/ixcitytop.htm l
>
>House prices are overvalued and consumer bankruptcies risk becoming a
>large social problem, the Bank of England Governor Mervyn King has
>warned.
>Speaking at the launch of the Bank's May Inflation Report Mr King said:
>"The level of house prices still seems remarkably high relative to
>those measures that put it into context."
>
>Recent gains in house prices had been more than the Monetary Policy
>Committee, which sets interest rates, had expected but Mr King warned
>this may not carry on as house prices are still high compared with
>average earnings.
>
>Mr King also warned a potentially large social problem of consumer
>bankruptcies may be materialising.
>
>He said: "The proportion of unsecured debtors reporting their debt as a
>serious problem has gone up, the number of calls to the National Debt
>Helpline has risen quite sharply, so I think the signs are that a
>potentially large social problem, with many households getting into
>difficulty with their debts, is materialising."
>
>Last week, official figures showed that the number of people declaring
>themselves insolvent was at its highest since records began - at 23,351
>in the three months to March.
>
>However, Mr King added: "The rate of increase in unsecured borrowing
>has fallen very markedly in the last year. The position on secured debt
>looks relatively benign."
>
>Credit-card debt fell by £579m during March, showing that cardholders
>are cutting back on their spending, according to figures from the
>British Bankers' Association last week.
>
>The country's current account deficit at around 4pc of GDP would need
>to be addressed, according to Mr King, but he was unsure over what
>time-frame this would need to be tackled.
>
>He said: "We keep running current account deficits which means that
>we're spending as a country more than we're producing. And there is a
>limit in the long run to that."
>Bank hints at interest rate rise
>
> http://www.housepricecrash.co.uk/forum/index.php?showtopic=2 9688
--
web site at www.abelard.org - news comment service, logic, economics
energy, education, politics, etc 1,552,396 document calls in year past
------------------------------------------------------------ --------------------
all that is necessary for [] walk quietly and carry
the triumph of evil is that [] a big stick.
good people do nothing [] trust actions not words
only when it's funny -- roger rabbit
------------------------------------------------------------ --------------------
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386586 ] |
Mi, 10 Mai 2006 20:08 |
|
"Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
news:msadnWWPRrXKtP_ZRVnyjg [at] giganews.com...
>
> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> news:446225e8$0$9231$ed2619ec [at] ptn-nntp-reader01.plus.net...
> >
> > "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
> > news:QL-dnQ7lfYpOvv_ZRVnyug [at] giganews.com...
> >>
> >> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> >> news:44622273$0$9272$ed2619ec [at] ptn-nntp-reader01.plus.net...
> >> >
> >> > "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
> >> > news:75mdnTVpxYWPvP_ZnZ2dnUVZ8tKdnZ2d [at] giganews.com...
> >> >>
> >> >> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> >> >> news:44621ed9$0$9267$ed2619ec [at] ptn-nntp-reader01.plus.net...
> >> >> >
> >> >> > "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
> >> >> > news:KM2dnQQUdNjxgf_ZRVnysA [at] giganews.com...
> >> >> >>
> >> >> >> "Chris.S" <Chris [at] postmaster.co.uk> wrote in message
> >> >> >> news:446219dc$0$9230$ed2619ec [at] ptn-nntp-reader01.plus.net...
> >> >> >> >
> >> >> >> > <mmaker [at] my-deja.com> wrote in message
> >> >> >> > news:1147279044.322941.276950 [at] u72g2000cwu.googlegroups.com...
> >> >> >> >> Chris.S wrote:
> >> >> >> >> > A house is worth what someone will pay for it.
> >> >> >> >>
> >> >> >> >> No. A house is worth _what a bank will lend someone_ to pay
for
> > it.
> >> >> >> >
> >> >> >> > Wrong.
> >> >> >> > A house is worth what you are willing to pay for it, you then
may
> > or
> >> >> >> > may
> >> >> >> > not
> >> >> >> > need to go to a bank where they may or may not agree to give
you
> > the
> >> >> >> > money.
> >> >> >> > Whether a bank gives you money says nothing regarding the worth
> >> >> >> > of
> >> > the
> >> >> >> > house
> >> >> >> > but more about your credit risk.
> >> >> >>
> >> >> >> Slimey, the point he's making is that fewer and fewer people are
> >> >> >> *earning*
> >> >> >> enough to be considered by the banks for a mortgage on a
> >> >> >> half-decent
> >> >> >> property.
> >> >> >
> >> >> > Exley,
> >> >>
> >> >> Who ? I might remind you to watch what you say here, Slimey.
> >> >
> >> > Why, are there people who are against free speech, Exley, uh?
> >>
> >> Exley ? Who's that then ? Be more specific ... if you dare ;)
> >
> > Having a Mike Baldwin moment are we
>
> Cowardice noted.
You very good at using google, I posted it there many times
rotfl
> >> >> > in that case the market will adjust itself, it's called market
> >> >> > forces
> >> >> > something alien to the BNP I know.
> >> >>
> >> >> LOL ! Slimey the arch-capitalist !
> >> >
> >> > It's called the real world X.
> >>
> >> ROTFLMAO ! Is that the real world Slimey where you can't ever hope to
> >> get
> > a
> >> mortgage - even for a £30,000 terraced dump in Wigan - due to your
> >> "condition" ? ;)
> >
> > £30,000 in Wigan, when you find one tell me.
> > I see you've been stalking again
>
> Ok, £25,000 then !
Evidence?
Houses are pretty cheap in WF17 0EB
snigger
> >> >> > Of course adjustment doesn't mean crash as other variables come to
> >> >> > mind,
> >> >> > such as supply and demand.
> >> >> > I suggest the reason why prices are high is that interest rates
are
> > low
> >> >> > and demand out strips supply.
> >> >> > If banks stop lending high amount then there will be no demand at
> > high
> >> >> > prices, it doesn't mean that banks won't lend at all, just not at
> >> >> > amount
> >> >> > that buyers want to borrow, hence no crash.
> >> >>
> >> >> LOL ! Slimey the "economist" ... almost too painful for words,
isn't
> > it
> >> >> ?
> >> >
> >> > Try not thinking if it hurts.
> >>
> >> Slimey, the concept of you with even one foot in the real world is just
> > too horrific to comprehend ... you'd spoil it for the rest of us !
> >
> > Poor X, can't debate, won't debate, back under the bridge.
>
> ROTFLMAO !
>
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386587 ] |
Mi, 10 Mai 2006 20:14 |
|
"Chris.S" <Chris [at] postmaster.co.uk> wrote in message
news:44622c12$0$9230$ed2619ec [at] ptn-nntp-reader01.plus.net...
>
> "Chris X" <Chris_x [at] postmaster.co.uk> wrote in message
> news:msadnWWPRrXKtP_ZRVnyjg [at] giganews.com...
>> >> >> > in that case the market will adjust itself, it's called market
>> >> >> > forces something alien to the BNP I know.
>> >> >>
>> >> >> LOL ! Slimey the arch-capitalist !
>> >> >
>> >> > It's called the real world X.
>> >>
>> >> ROTFLMAO ! Is that the real world Slimey where you can't ever hope to
>> >> get
>> > a
>> >> mortgage - even for a £30,000 terraced dump in Wigan - due to your
>> >> "condition" ? ;)
>> >
>> > £30,000 in Wigan, when you find one tell me.
>> > I see you've been stalking again
>>
>> Ok, £25,000 then !
>
> Evidence?
Wigan is a shithole. Next !
>
|
|
|
| Re: King sounds warning over economy. House prices overvalued and bankrupcies risk becoming large so [message #386588 ] |
Mi, 10 Mai 2006 20:14 |
|
On 10 May 2006 09:39:46 -0700, "Crowley" <crowleyalastair [at] yahoo.co.uk>
typed:
>
>Chris.S wrote:
>> "Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
>> news:1147273387.652494.103630 [at] u72g2000cwu.googlegroups.com...
>> Straight from the horse's mouth (King is not one of Brown's stooges of
>> course) .........
>>
>> King sounds warning over economy
>> (Filed: 10/05/2006)
>> http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/ 05/10/uking10.xml&sSheet=/money/2006/05/10/ixcitytop.htm l
>>
>> House prices are overvalued
>>
>> I do wonder if these people live in the real world.
>> House prices are over valued, well maybe to you but to someone else, no.
>
>While I'm all for people doing their own research and making their own
>minds up I think I'd place more credence on the views of the governor
>of the Bank of England than the ramblings of an internet stalker like
>you Slimey.
no wonder you know nothing...next you'll start lapping up bliar's sheep
dip!
you're incredible creepy....
every time i think the depths of your stupidity have been plumbed..yet
again you exceed yourself....
giggling out loud to the extent of disturbing the office....
you should go on stage...
--
web site at www.abelard.org - news comment service, logic, economics
energy, education, politics, etc 1,552,396 document calls in year past
------------------------------------------------------------ --------------------
all that is necessary for [] walk quietly and carry
the triumph of evil is that [] a big stick.
good people do nothing [] trust actions not words
only when it's funny -- roger rabbit
------------------------------------------------------------ --------------------
|
|
|
Gehe zu:
aktuelle Zeit: Di Mai 22 00:09:37 CEST 2012
Insgesamt benötigte Zeit, um die Seite zu erzeugen: 0,94948 Sekunden |
