claret+blue_watch

With the impending downwards correction I'm having first dibs on this house:Chateau Neville

Look at those wonderful initalised gates Who says footballers haven't got class .I reckon I'll get it for approx £30,000 in 18 months

I like this comment:

Asset bubbles have three stages. Stage one is when the smart money buys. Stage two is when the friends of smart money buy. Stage three is when unqualified journalists tell Joe public to buy - this is when smart money sells because he's smart enough to know what a bubble looks like. Evidence? have a look at the FTSE listed builders.

I haven't checked the accuracy of his claim, though.

Awful article; interesting comments.

Why anyone would think that TV presenters are experts just because they present a program on a particular topic, though, is beyond me.

Those kind of programs have long made me uneasy. They have concentrated (in a particular climate) on the nominal increase in the value of a property without any regard to the indirect fall out and consequences of those increases.

It is all about the house (or flat) as a commodity the main purpose for which is for trading - oh, and here's an incidental bonus : it can be lived in, too.

I'd be interested to see if the BBC keep their program 'Homes under the hammer' going. Next year the show could be of a completely different nature. Instead of showing people who buy a property at auction and walk out of the door to sell it to some other mucker for an extra £5k, perhaps we'll get a program showing former family homes being auctioned to rooms filled only with the tearful, evicted families and those few with the hard cash that can buy them. That'll keep the daytime TV watchers happy..

One other comment:

I will let it be known that all your IP numbers have been recorded.

All posts will now be checked for threatening words by the police.

Posted by Kirsty Allsopp on March 30, 2008 4:27 PM

Sorry Snowy I didn't notice your reply.Do you think that really was Krusty?

Wouldn't put it past the avaricious bint.The bulls are getting very angry now aren't they

Here is another example recently of another ramper turning angry, this time it's all the FTB's fault that her portfolio may go up in smoke, and she may have to get a real job because those selfish FTB's won't put themselves on a treadmill of debt until they are ninety. :evil:

Times

Forgot to say to look at the have your say comments at the bottom

It's all a self-fulfilling prophecy really.

All the media scaremongering terrifies prospective house buyers, so they hold off, leading to a slow-down in the market, leading to more scaremongering stories, and around we go again.

Absoloutley spot on.

Is this the same media who have been shamefully and irresponsibly ramping property for ten years?

Only last week the Daily Express 'newspaper' had the headlines of 'House prices still rising'.Only thing is they failed to mention that this was YoY figures, which over the next 1-2 months will show negative YoY.Didn't mention that, strange eh?Misleading and irresponsible reporting.

I believe the owner of the Express paper has a huge property portfolio.Coincidence?

As for Phil and Krusty on Channel 4 and their ilk, I hope and presume they don't have a conscience, as all those people they advised with their 'expert' opinions to buy buy buy, no matter how far they stretched themselves and with the age old myth that 'prices only ever go up', could be in serious financial difficulties in the next few years.

As Mr Buffet once said "It's only when the tide goes out that you learn who's been swimming naked"

I think we have entered the 2nd stage:Anger

Daily Telegraph

Labelling people 'Doomsters' because they could see one of the biggest asset bubbles in history, and how it could go very wrong.Disgraceful journalism, read all the comments below, people are angry.A comment by Richard Hayward at 12.24PM hits the nail firmly on head in my opinion.

Yes.Those voting No, I would like to hear their realistic replacemant for MON.I've heard people suggest the likes of Mourinho which is pie in the sky stuff.

And as if by magic: Treasury reveals tax burden is heaviest on poor

An excerpt:

BRITAIN’S richest people are paying 4p in the pound less in tax than any other section of the population, according to new figures released by the Treasury.

The data show the top 1% of households hand over 31% of their income when all direct and indirect taxes are accounted for, compared with an average of 35% for everyone else.

Much of the gap has opened up because, while the rich pay a higher rate of income tax, they pay a smaller proportion of their income in indirect levies such as television licences and Vat on goods and services.

The Treasury analysis .. covers figures for 2005-6, the latest available.....

During the summer there was public controversy about the low rates of tax enjoyed by private equity tycoons, some of whom can pay as little as 10% on their earnings.

The controversy was stoked in June when Nicholas Ferguson, chairman of SVG Capital, admitted in an interview that he felt uncomfortable paying lower taxes than his cleaner.

“Any commonsense person would say that a highly paid private equity executive paying less tax than a cleaning lady or other low-paid workers . . . can’t be right,” he said.

.....

For the lowest 10% of earners, the average annual income per household is £8,366, of which 44.2% is paid as tax.

At the other end of the spectrum, the top 10% of households receive an average £88,334 and pay 35% in tax. The highest-earning 1% have an income of more than £92,300. Households on the median income of £24,700 pay 35.3% in tax.

....

(more on link)

Everyday until the next general election a little bit more of me is ashamed that I voted for these charlatans, not once, but twice.NuLabour, party of the working class .

And before any of the Brownites start, I have never voted Conservative and probably never will, and in their current guise I will never vote Labour again either.

I voted Thatcher because of personal reasons regarding Wapping, and I detested her and her Government, much as I do this current shower of shite.

As for sub-prime(aka Lie to buy/mortgage fraud)that's nasty America's fault and anyway we don't/won't have that problem here :roll: .Boy are some people in for a hell of a shock.

The Sub-Prime market had nothing to do with people lying to get a mortgage, on the contrary - banks had identified these people as being at massive risk with regards to having a mortgage - and yet they still lent to them.

I managed to haul myself onto the Housing ladder a few years back, through saving hard over a number of years, I find it distasteful to see so many people almost enjoying the prospect of a crash.

I believe a crash is now almost inevitable - and it is a horrible thing to have on the horizon, there will be more losers than winners at the end of it all.

And I find it distasteful that a whole future generation are being priced out of being able to put a roof over their and their families heads.House prices are unsustainable at their current rate, the 10 year credit binge is no-one's fault but the irresponsible and negligent lenders and customers and I have no sympathy whatsoever for those people who have stupidly over-extended themselves in the popular belief that house prices can only ever go up.Greed, pure greed.

The party is coming to an end and I think although it will be painful, hopefully it will be the catalyst for the change in attitude in this country from obscene debt fuelled spending to sensible saving, and maybe people viewing their homes as a place to live in, not a cash cow, MEW-ing till their hearts content to keep up with the Jonses.

I think there are far more people hoping for a correction than you realise.

Some interesting articles from the normally bullish Times:

Times1

Times2

Times3

And yes, believe it or not house prices can actually go down as well as up, who'd have thought it ey?

I can see Gordon now:Repeat after me, sound economic fundamentals, no more boom and bust, house prices only ever go up

As for sub-prime(aka Lie to buy/mortgage fraud)that's nasty America's fault and anyway we don't/won't have that problem here :roll: .Boy are some people in for a hell of a shock.

"The Premier League is the greatest league the world has ever known".

David "I am a rocket polisher" Gold

Or more accurately "The Premier League is the greediest, money-mad league the world has ever known".

The Premier League is the most over-rated, the top three are very good teams, all the rest(including ourselves) are either mediocre at best or very poor.La Liga for me has a better depth of quality throughout.

How many of you would be confident that we could beat a comparable La Liga team, i.e Seville who are currently seventh.I would not fancy our chances one bit.

I voted more.

Cant see why they wouold go down, there too much demand.

Again, the biggest single reason for the obscene rise in house prices is the availability of cheap and easy credit.It seems Gordon, the banks, the media and the Independant(don't laugh) BoE have done a great job in peddling this great myth of supply and demand as the only/biggest factor in HPI.Seems NuLabour and Gordon's miracle HPI/MEW/debt fuelled economy isn't all it's cracked up to be.Anyway it's all America's fault, we don't/haven't had Sub-Prime(aka 7x/8x/9x salary mortgages, 125% mortgages, Lie to buy/Self-Cert mortgages)in this country have we? :roll:

You'll be saying prices only ever go up next.

it won't crash in this country because the demand far outstrips supply and look at the number of houses that will need to be built

it will be a gentle one for most as £130k for my house represents good value

but at the higher ends isi where it could hit

Demand and supply is one of the biggest fallacies in this whole argument, whilst it does have a influence, the biggest single reason house prices have risen is the availability of cheap and easy credit, and the willingness of lenders to lend to ANYBODY.

Whilst you can never predict, with any certainty future house prices, I expect(and hope) they will fall around 20-30% over the next three years.

Either McLaren or O'Dreary would be fantastic, not to mention hilarious.

Mourinho?Deluded clearings in the woods.

Why don't we reduce their allocation for future fixtures, like Sunderland have/are doing?Or just ban that odious filith altogether.

Is it possible General? No. it's not. League and Cup rules require 3000 tickets and 6400 tickets to be allocated to the away team if they want them. The reduced allocation at Sunderland was due to their local council safety group decreeing it, not the clubs. Blandy

Let's hope they get Roma in Europe again next season.

Fair enough.Maybe we can pass on the increase in costs incurred by having to have extra police officers on duty for no other reason that their fans cannot, or rather will not behave themselves.

I'd be interested to hear the West Midlands Police view on this both in terms of what they would like to see being done, and the inconveiniance of having extra officers having to police a football match when they may be needed elsewhere.

Why don't we reduce their allocation for future fixtures, like Sunderland have/are doing?Or just ban that odious filith altogether.

Is it possible General? No. it's not. League and Cup rules require 3000 tickets and 6400 tickets to be allocated to the away team if they want them. The reduced allocation at Sunderland was due to their local council safety group decreeing it, not the clubs. Blandy

Let's hope they get Roma in Europe again next season.

No contest for me, the England team does not interest me at all.

Thanks for the prompt reply General

I do think the stewarding does need to be looked at as a matter of upmost importance.

Also are the stewards all hired and trained 'in house' or do we also use outside agencies to provide stewards?

I am surpised we have not been linked with Lee Bowyer, we usually are.

I'm still waiting for us to be linked with our usual summer transfer target, Carlton Palmer :oops:

Oh first post, hi all been lurking a long time, thought I'd put my head above the parapet.