Reply to: No let up in Doom till at least 2010

[Diver]

Homo-erotic undertones?

bobsmithldn; Exactly! Ramifications for years to come ...

[bobsmithldn]

milan you dumpy potato farmer

no one in the financial world is going to touch dodgy mortgages - even with yours - for a considerable number of years.
essentially what that means is that even you with your czech kopeks might one day be able to afford that studio over the kebab shop in Peckham

Exactly! Ramifications for years to come ...

Remember, we're only half way through the write-off's (at best)!

[Xenophon]

sas you cheeky little help desk assistant

milan you peasant tape changer

milan you dumpy potato farmer

Homo-erotic undertones?

[sasguru]

sas you cheeky little help desk assistant,

the supply of credit is over until those in charge decide to turn it on again, when this will be is anyone's guess

essentially what this means is that if peasants like you cannot find the funds to aquire property at the credit crunch prices, you're not gonna have a prayer once they turn the supply of credit back on



Milan.

milan you dumpy potato farmer

no one in the financial world is going to touch dodgy mortgages - even with yours - for a considerable number of years.
essentially what that means is that even you with your czech kopeks might one day be able to afford that studio over the kebab shop in Peckham

[Xenophon]

sas and milan,
on CUK,
k-i-s-s-i-n-g.

[milanbenes]

sas you cheeky little help desk assistant,

the supply of credit is over until those in charge decide to turn it on again, when this will be is anyone's guess

essentially what this means is that if peasants like you cannot find the funds to aquire property at the credit crunch prices, you're not gonna have a prayer once they turn the supply of credit back on



Milan.

[sasguru]

milan you peasant tape changer

The supply of credit is over for the next few years.

[milanbenes]

sas you cheeky little help desk assistant,

less of it


my point is, all this fuss about house prices falling, it's all irrelevant, because as soon as the herd are given their line of cheap credit the prices will be back up where they were and those currently or perhaps in the near future having the potential of a paper loss should just sit it out

Milan.

[sasguru]

Dim,

please show the flaw in my argument.

Of course if you turn off credit and stop the majority from borrowing then of course no one has money and house prices will fall to a level where buyers are

but

as soon as you give credit again to the majority, then of course, the sellers are not going to hold the prices at the depressed artificially low prices which were representative of a market with no cash flow,

no,

the prices will imediately jump up back near where they were and I predict there will be such a rush that the prices will rise again like a rocket

Milan.

Milan did you win the Nobel prize once? With an intellect like that you should be finding a cure for cancer ....

[milanbenes]

Dim,

please show the flaw in my argument.

Of course if you turn off credit and stop the majority from borrowing then of course no one has money and house prices will fall to a level where buyers are

but

as soon as you give credit again to the majority, then of course, the sellers are not going to hold the prices at the depressed artificially low prices which were representative of a market with no cash flow,

no,

the prices will imediately jump up back near where they were and I predict there will be such a rush that the prices will rise again like a rocket

Milan.

[rootsnall]

everyone seems to be forgetting (and somewhat naively), that yes,

. when you switch off the credit taps house prices fall

but

. as soon as the credit taps are switched back on, whenever that is, house prices are going to rocket back to where they were

sellers will know everyone can get credit and will be able to say no until buyers will pay the inflated prices again,

just think about what a massive wall of buyers there will be once credit is turned on again,

my prediction, the next boom will be even bigger

Milan.

We haven't had the crash yet, the massive wall of buyers was about half an inch high in 1995.

[DimPrawn]

everyone seems to be forgetting (and somewhat naively), that yes,

. when you switch off the credit taps house prices fall

but

. as soon as the credit taps are switched back on, whenever that is, house prices are going to rocket back to where they were

sellers will know everyone can get credit and will be able to say no until buyers will pay the inflated prices again,

just think about what a massive wall of buyers there will be once credit is turned on again,

my prediction, the next boom will be even bigger

Milan.

There's no pulling the wool over your eyes is there Milan?

Boomed!

[milanbenes]

everyone seems to be forgetting (and somewhat naively), that yes,

. when you switch off the credit taps house prices fall

but

. as soon as the credit taps are switched back on, whenever that is, house prices are going to rocket back to where they were

sellers will know everyone can get credit and will be able to say no until buyers will pay the inflated prices again,

just think about what a massive wall of buyers there will be once credit is turned on again,

my prediction, the next boom will be even bigger

Milan.

[Xenophon]

Umm, actually considering how many of them have posted fooking huge losses I'd say not that much actually ...

...and I'd agree.

So they do a review and now Sir James Crosby has a crystal-ball-type view of the next 3 years, does he?

Bollocks.

[snaw]

The former CEO of a bank, eh? What the fork do they know?

Umm, actually considering how many of them have posted fooking huge losses I'd say not that much actually ...