Credit deflation and the reflation cycle to come (part 2)

[BWW]

1 hour ago, MrXxxx said:

Whether its house prices (and a threat of a disappearing ladder) or Covid19 (and a threat of disappearing toilet paper) the majority of people will believe the narrative being promoted (by the MSM/vested interests), and get `sucked in` to a buying frenzy/scam.

majority of people need the banks to play ball with that.

I have been constantly amused through my current house buying process how many times my solicitor has used the phrase "since you're buying for cash", in part about nonsense like has the seller said whether they're leaving a 30yo oven in one of the annexes or not.

What the phrase actually means is if you needed a mortgage and I was working for the bank as well, I'd be presenting three million obstructive hoops for everyone to jump through and generally making it less leikely you ever get to exchange never mind complete. NB This was MY solicitor. Chap is also good IMO, he's just following standard practice and required procedures.

On the housing market, I'm expecting lots of pre-exchange SSTC to fail now and possibly the big correction [crash] to happen over the next 2 years. I am buying for the next 30years [if I get that many] so don't care.

[NogintheNog]

9 minutes ago, kibuc said:

21 minutes ago, Castlevania said:

Well this is brutal. How low do we think the GDXJ will fall to? $15? Lower? 

Today, or in general?

 

Whoa!

There goes another few grand!

[TheCountOfNowhere]

What was that Estate Agent saying ?

 

Market Summary > Foxtons Group PLC

LON: FOXT

Follow

 

39.57 GBX −17.13 (30.21%)

No sniggering please...we are adults here, estate agents could lose their jobs.

 

COUNTRYWIDE PLC (CWD) ORD GBP0.01

Sell:84.70p Buy:87.20p  78.65p (47.77%)

[NogintheNog]

33 minutes ago, BoSon said:

Yup. Grant Shapps, transport secretary, said this morning:

On the troubles faced by airlines such as Easyjet, which announced more “significant cancellations” on Monday, Shapps said viable companies would be offered help, for example on deferring tax, to help them cope with the global disruption

How the Fcuk do they decide what a viable company is!!!! Our governments both Labour and Conservative have used supposedly viable companies for contracts before that have then failed.

You couldn't make this up! These people are Fcuking idiots!

A few of the big airlines may well go bust. Once we are on the other side of this airfares will rise steeply.

[Bricormortis]

20 minutes ago, Noallegiance said:

You couldn't make it up!

 

Oh yeah.. his name....

Erranta will need his meds increased if he sees that.

[BoSon]

1 minute ago, NogintheNog said:

How the Fcuk do they decide what a viable company is!!!! Our governments both Labour and Conservative have used supposedly viable companies for contracts before that have then failed.

You couldn't make this up! These people are Fcuking idiots!

A few of the big airlines may well go bust. Once we are on the other side of this airfares will rise steeply.

Viable is down to their own determination that may not be entirely unbiased if they get persuaded by the usual means such as the old boys network, lobbying, or plain old bribery.

Seems they used the assessment when deciding not to bail out FlyBe. Let's see if Branson or any other bigger boys get a hand-out.

[Democorruptcy]

12 minutes ago, TheCountOfNowhere said:

House prices only go up.

I've just been to look at one from the outside and while I was there booked a viewing. I'd snatch their hand off at full asking. Obviously I'll try lower and be laying it on thick about the possibility of a coming global recession, job losses, lack of immigration, population decline and house prices going down. I asked about the health of the viewing agent and they said coronavirus policy is they open the door but stay outside and you have 30 mins inside unattended. I said that was a good idea because the virus can stay on surfaces for 9 days. She didn't know that and sounded a bit shocked, particularly when I asked if she had touched a shopping trolley recently. 

I'm going in too early with the house like I did with the shares last week but it's remote with acres. Barricades will be going up and I'll be stood behind with my crossbow, does anybody know where you can buy a cheap sub-machine gun?  

[Castlevania]

28 minutes ago, kibuc said:

Today, or in general?

In general based on panic selling of everything

[Yellow_Reduced_Sticker]

 

Gordon Bennett ...Card Factory down to 47p!

 

I WAS going to make a comment about this company with whats going on with CV, BUT i'm sure ya'll all agree in would be in bad taste!

 

 

 

[kibuc]

My wife just told me to sell everything.

Which means the rebound must be nigh. But hey, someone has to sell at the bottom.

[reformed nice guy]

1 hour ago, Boon said:

Anyone buying today?

Yup, continuing my ladders

Got Drax, equinor, repsol, siemens, stagecoach, vodafone, yara

[Democorruptcy]

57 minutes ago, DurhamBorn said:

China is pretty much back on stream.I ran an import business and my agent in China said most are back working,but of course a lot of backlog etc and they are serving their main customers first.

I've been monitoring this virus and China (if their figures are to be believed) could be clear of it by April Fool's Day (See what I did there?). How come they are not getting cases all over China? We have 11 cases in Shetland FFS. They have some damn good antivirals or something else. I emailed PHE yesterday and told them to get our begging bowl out to them!

Since 10th March only 60 deaths, 5000 less active the 17,000 down to 12,000, critical down 1,200 from 4,800 to 3,600

https://www.worldometers.info/coronavirus/

 

 

 

[reformed nice guy]

Silver down below 12! A 20% drop!

Someone must be liquidating a lot to pay their bills.

Bank run?

[BearyBear]

1 minute ago, reformed nice guy said:

Silver down below 12! A 20% drop!

Someone must be liquidating a lot to pay their bills.

Bank run?

I’ve explained that a few pages back

No bids at these levels, just vacuum

[reformed nice guy]

1 minute ago, BearyBear said:

I’ve explained that a few pages back

No bids at these levels, just vacuum

Ah, sorry @BearyBear, missed that explanation.

[Don Coglione]

3 minutes ago, kibuc said:

My wife just told me to sell everything.

Which means the rebound must be nigh. But hey, someone has to sell at the bottom.

My wife just told me that, against my advice, she had cheekily switched her pension into 100% cash last Monday.

From now on, she holds the purse-strings...

[M S E Refugee]

I have drawn up a shopping list so I just need to be patient.

[TheCountOfNowhere]

4983....

How low can it go ?

Im saying 3500 and Im in.

[TheCountOfNowhere]

Wont be long till this lot are back to the price they were before they rejigged the share price  

 

 

COUNTRYWIDE PLC (CWD) ORD GBP0.01

Sell:82.00p Buy:82.95p  81.65p (49.59%)

[M S E Refugee]

1 minute ago, TheCountOfNowhere said:

4983....

How low can it go ?

Im saying 3500 and Im in.

Yes I am looking at under 4000 before I start buying.

Tempted to buy more Gold and Silver but I may wait.

[TheCountOfNowhere]

5 minutes ago, M S E Refugee said:

Yes I am looking at under 4000 before I start buying.

Tempted to buy more Gold and Silver but I may wait.

Im waiting to see if I am still alive in 3 months.

[Boon]

What's with the housebuilders getting caned? 

Is this saying that house price values are going to fall?

[TNS]

5 minutes ago, Boon said:

What's with the housebuilders getting caned? 

Is this saying that house price values are going to fall?

Workforce sick perhaps so site closures for a while....

[MrXxxx]

1 hour ago, BWW said:

On the housing market, I'm expecting lots of pre-exchange SSTC to fail now and possibly the big correction [crash] to happen over the next 2 years. I am buying for the next 30years [if I get that many] so don't care.

Hi BMW, not questioning your sincerity (and don't know your circumstances), but if you had any confidence in your crash statement why would you not be bothered about paying a much lower price by waiting a couple of years?...I could understand this in a share buying approach where the alternative is staying in cash with low rates/inflation eroding capital, but rental cost/loss to buying is minimal over a two year period, especially compared to the savings that could be made in only a relatively small % drop?!

[Boon]

Yes, it seems that if we're gonna get panic in the supermarket/stockmarket, why not the property markets (with a bit of a lag)?

Should be said that if the home is perfect then I can understand going ahead, prices may fall but does not guarantee the exact property being available.