Reply to: House prices going up

[PAH]

Now putting a 15% cut into context of house prices going up and it all starts to look a bit like la la land.

It's worse than that.

Many people have lots of existing credit card debt that is barely managable, despite all the juggling they do to keep the card interest rates as low as possible.

Then they've been withdrawing equity from a house that could well end up in negative equity soon, if not already, so are really just getting more credit at a low rate.

Both these situations are going to go tits up when the interest rates start to rise. Not to mention what'll happen if the cuts are so severe that we see masses of public sector job losses, the sector that happens to employ a majority of the working population by the looks of things.

I've got the popcorn ready, things are going to go Hollywood pretty quickly and soon.

[norrahe]

DP's house is in la la land.

Is that what they call Swindon these days?

[shaunbhoy]

Now putting a 15% cut into context of house prices going up and it all starts to look a bit like la la land.

Don't worry about it worzel. DP's house is in la la land.

[worzelGummidge]

I think that Dim Prawn is er, either dim, stupid or just having fun.
If it's fun then good on you.
There is a whirlwind coming and it is not going to be nice.
All his talk of house prices going up is a little bit silly.

The next government is going to have to cut spending by a very large percentage in order to get things back on track - something in the region of above 15%.

It is not going to be very nice.
When the Canadians went through something similar in the 80's they cut spending by about 12% of GDP and found it very tough.
Apparently, it is reasonably easy to cut a budget by 5%.
The next 5% of GDP affects services and is noticeable. i.e. no more meals on wheels and libraries being closed.
After 10% the Canadians found that they were sacking teachers, doctors and nurses - not due to the over supply of staff but because the budget required it.

Now putting a 15% cut in Government spending into the context of house prices going up and it all starts to look a bit like la la land.

[shaunbhoy]

Previously, folk didn't complain much.

Ah yes.......Halcyon days. That was in the Pre-Bedwetter Age.

[DimPrawn]

Noticed that there are adverts on the local radio here.

"Got debts, credit cards, loans? Why not free up equity in your home and pay them all off, leaving you free to spend, spend, spend on whatever you like!"

The boom is back!

It's like it never went away.

[Moscow Mule]

I've called MF and tay various bad things and I've never even had a PM. Maybe it all depends on who you're insulting

I think it depends who complains. Previously, folk didn't complain much. Perhaps they do these days...

[MaryPoppins]

Ban DiscoStu.

Yup.



No, not really.

[DiscoStu]

Ban DiscoStu.

[Xenophon]

I've called MF and tay various bad things and I've never even had a PM. Maybe it all depends on who you're insulting

Ban DiscoStu.

[DiscoStu]

Up your bottom?

Ouch!

[MaryPoppins]

Now where did I put my angelic halo smiley?

Up your bottom?

[DiscoStu]

Put your wooden spoon away...

Now where did I put my angelic halo smiley?

[stingman123]

so where do I find all these new rules the stasi mods have brought in?

They make it up as they go along....

[MaryPoppins]

I've called MF and tay various bad things and I've never even had a PM. Maybe it all depends on who you're insulting

Put your wooden spoon away...