Reply to: So how's the economy?

[thunderlizard]

In any crises - ask the question Qui Bonum ? (who profits ?)

Cui bonum

[Pondlife]

Place we went to see the otherday, Vendor (recently split couple) insisted that they need 98% of the asking price to pay off the mortgage.

They've had the place since before '95 or however far houseprice.co.uk goes.

The place needed a whole load of work doing as well, so I've no idea what they've pi$$ed all the equity away on.

I guess they're on interest only and are basically mortage zombies.

[DimPrawn]

Crazy vendors. They all seem to think that because they bought high they can sell high. Guy i work with put in a cheeky offer of 180K on a 210K house, and they took it. The house had been on the market for almost a year.

I wouldn't call putting in an offer at around 85% the asking price (priced at peak) cheeky.

A £100K offer is cheeky.

[the_duderama]

I agree. But so far that does not seem to be reflected in prices.

Crazy vendors. They all seem to think that because they bought high they can sell high. Guy i work with put in a cheeky offer of 180K on a 210K house, and they took it. The house had been on the market for almost a year.

[BrilloPad]

There will be 60000+ repossessions a year for the next 3 years (minimum).

Obviously some people are having a pretty tulipty time of it.

I agree. But so far that does not seem to be reflected in prices.

[Menelaus]

Looked at rightmove last night. Anything decent is around 500-600K min. in the south east. Ridiculous.

Agreed. I'm looking at the moment and finding something that's remotely "good" is proving to be a nightmare.

[MrNoMotivation]

I'd buy that Alfred.

What smells in all of this is that, despite the housing market being in 'meltdown', bankers are still getting bonuses, new banking bosses of part-nationalised banks are getting nearly £10 million packages.

And houses in my area are no cheaper than they were 18 months ago.

We're all being dry-bummed I reckon.

Looked at rightmove last night. Anything decent is around 500-600K min. in the south east. Ridiculous.

[DimPrawn]

I blame Thatcher.

[Shimano105]

I'd buy that Alfred.

What smells in all of this is that, despite the housing market being in 'meltdown', bankers are still getting bonuses, new banking bosses of part-nationalised banks are getting nearly £10 million packages.

And houses in my area are no cheaper than they were 18 months ago.

We're all being dry-bummed I reckon.

[AlfredJPruffock]

My view has not altered over the past year - that the Credit Crunch was the result of Market Manipulation and a way of ensuring that Bush's Wall St Banking friends could raid the US Governments coffers of Billions of Dollars - all this at at the time when its was clear it was curtains for the Republicans and that they would lose the election - so called credit crunch - or not.

In any crises - ask the question Qui Bonum ? (who profits ?) to find the source of the crises.

Futhermore if the UK economy was in real danger - projects such as Trident and the ID cards would have been on the scrapheap months ago.

MM writes :

There will be 60000+ repossessions a year for the next 3 years (minimum).

Obviously some people are having a pretty tulipty time of it.[/I

Again apply the formula - Qui Bonum - to see who profits from these pepople's misfortune.

I'm coping, but only by relocating and accepting tulip rates and short term bollocks.

Again - Qui Bomum ?

[Fred Bloggs]

No, but the government seems to be selling it all off to John Pierre Froggy.

True and he likes to keep all the good stuff to himself. But there must be work in the UK on the fuel route and in nuclear clean up for at least 100 years for us. So despite the work being as miserable as sin compared to petroc-chemicals work, then at least it pays the bills. The rates always seen lower in nuclear work too conmpared to petro-chem work. I think that's because it's usually longer term gigs. It'll keep me from starving anyhow.

[DimPrawn]

The economy is healthy enough to afford £5m on Zimbabwe.

Well done Mr Brown, money well spent.

5 x new Rolls Royce Phantoms
A new presidential palace
Upgrade on private jet

[Badger]

The economy is healthy enough to afford £5m on Zimbabwe.

Well done Mr Brown, money well spent.

[Shimano105]

I'm coping, but only by relocating and accepting tulip rates and short term bollocks.

Never known it so bad TBH - in IT I've only ever known contracting in the North to be quite lucrative (not London, but much less stress). The banks seemed to have offered most of the opportunities post-industrial decline.

Now they have effectively gone under and outsourced any leftovers, it is doooom all the way.

Got my doom hat on today and I have to say that I can't see it picking up now that the outsourcing model has become the norm.

[Moscow Mule]

There will be 60000+ repossessions a year for the next 3 years (minimum).

Obviously some people are having a pretty tulipty time of it.