What makes this housing down turn different

[sasguru]

Just skipped through this thread. What you're saying is, my house drops in price so much (I have 80% LTV) that I can't remortgage in 2 years time so I will go onto SVR which I won't be able to afford because the contract market would have shrunk so much I can't get work then the govt will buy a %age of my mortgage and rent a proportion of my house back to me at low rates as I would have wound up the Ltd and gone on the rock and roll?

Blimey...

Doomed! Or is it boomed? Can't quite work it out.

[AtW]

Yes. Unlike the superior economic education you received in the Siberian communist university for special kids. The modules were far superior to anything the city business types here ever studied ...

I graduated from UK business school also. My education in Russia was received (1993-98) after the collapse of USSR (1991) - we studied history back then well, something clearly you did not as otherwise you would not be so sure if my Uni education was commie, it wasn't in key economics parts as at the time we pretty much studied it on the basis of foreign books.

Having studied both there and here I can state categorically that the education I received in Russia was better than here in some key parts. Perhaps they teach better in Oxford, so I will reserve my judgement about that place, but overall it seems to me a lot less time spend teaching in UK unies than it was in Russia at the time.

[AtW]

Just skipped through this thread. What you're saying is, my house drops in price so much (I have 80% LTV) that I can't remortgage in 2 years time so I will go onto SVR which I won't be able to afford because the contract market would have shrunk so much I can't get work then the govt will buy a %age of my mortgage and rent a proportion of my house back to me at low rates as I would have wound up the Ltd and gone on the rock and roll?

Blimey...

Typical mistake of people who can't understand strategic macroeconomic issues.

No,you personally might be allright, but lots of non-IT-contractors who overextended themselves and bought houses with 100-125% morgage are going to get screwed. And this will affect you because such a shock to UK economy will certainly cause downturn in all industries.

I don't have a morgage, but I know that downturn won't be good for any business, so I am not happy when write all this - I'd prefer that this bubble was not inflated by Govt in the first place but the only thing that can happen now is that it pops.

[snaw]

I graduated from UK business school also. My education in Russia was received (1993-98) after the collapse of USSR (1991) - we studied history back then well, something clearly you did not as otherwise you would not be so sure if my Uni education was commie, it wasn't in key economics parts as at the time we pretty much studied it on the basis of foreign books.

Having studied both there and here I can state categorically that the education I received in Russia was better than here in some key parts. Perhaps they teach better in Oxford, so I will reserve my judgement about that place, but overall it seems to me a lot less time spend teaching in UK unies than it was in Russia at the time.

It's called the Friday afternoon piss take AtW. Stop taking yourself so seriously, you may then find a more responsive audience.

And yeah I studied history, to the extent I turned down two Uni places on it cause I figured Comp Science paid more ;-) I still read it in my spare time. I didn't however study the life of AtW and what year he graduated, in relation to the collapse of communism.

Alhough I'm sure the communist mindset wasn't wiped out overnight (If at all, from my experience of most eastern europeans - they're kind of influenced by those years, long after they're over).

[sasguru]

I graduated from UK business school also. My education in Russia was received (1993-98) after the collapse of USSR (1991) - we studied history back then well, something clearly you did not as otherwise you would not be so sure if my Uni education was commie, it wasn't in key economics parts as at the time we pretty much studied it on the basis of foreign books.

Having studied both there and here I can state categorically that the education I received in Russia was better than here in some key parts. Perhaps they teach better in Oxford, so I will reserve my judgement about that place, but overall it seems to me a lot less time spend teaching in UK unies than it was in Russia at the time.

That list of your degree modules you posted the other day was a hotch potch of topics with no coherence and logical structure. Sounded like a lot of 101 courses (as our American cousins would call them). Which explains why your so-called thinking lacks depth and sophistication. The economic rantings you post here would be covered at a pre-university level in this country - at least that's true 20 years ago, not sure whats it like now.

[AtW]

The economic rantings you post here would be covered at a pre-university level in this country - at least that's true 20 years ago, not sure whats it like now.

Yeah I gotto love that - people in this country are so well educated in economics in schools that they get into morgage bubble and debt in general

If this country had people educated in finance and economics so well as you claim sadguru, then they'd revolt against Govt taxes long time ago and instead of Canary Wharf there would have been burnt out buildings as a warning to future generations what financial gambling leads to.

[AtW]

Alhough I'm sure the communist mindset wasn't wiped out overnight (If at all, from my experience of most eastern europeans - they're kind of influenced by those years, long after they're over).

I never had communist mindset, though I was certainly brainwashed in some topics - history of WW2 war for example, USSR was still strong at the time, but I am making up on it now reading western books.

I started studying economics when USSR was broken apart and Russia was trying to implement western models. I don't even think you really know what Soviet economical system was like anyway - unlike me dare I say.

[alreadypacked]

Yeah I gotto love that - people in this country are so well educated in economics in schools that they get into morgage bubble and debt in general

If this country had people educated in finance and economics so well as you claim sadguru, then they'd revolt against Govt taxes long time ago and instead of Canary Wharf there would have been burnt out buildings as a warning to future generations what financial gambling leads to.

OH! you leave my apartment alone

[snaw]

Yeah I gotto love that - people in this country are so well educated in economics in schools that they get into morgage bubble and debt in general

Yes, only well educated experts like yourself have the intelligence to rent a Birmingham bedsit ...

[AtW]

OH! you leave my apartment alone

Wait till I say what would have happened with overseas properties