C-19.. Catalyst or trigger for the inevitable economy and property market crash?

[Loki]

3 minutes ago, Chewing Grass said:

I think we are about six weeks from a crash, it may have started but there is no official data yet.

Started hearing about highly skilled engineers in my sector being given their notice today.

These people don't get binned in ones and twos as they are very hard to replace.

Surplus labour equals downward pressure on wages and with interest rates virtually zero there is no fat left in the housing market.

A HPC or an everything crash, Mr Grass?

[Green Devil]

4 minutes ago, TheCountOfNowhere said:

I remember saying in 2001... These price rises cant keep going... People agreed.... But keep going they did... Banking system collapse and still the plebs clamour for more. 

After 2005 it was never ever ever going to end well. 

Property is the UK economy. Why do you think to end lockdown they allowed long distance driving? To allow people to view houses. It will and has been supported at all costs. 

 

[haroldshand]

3 minutes ago, Chewing Grass said:

I think we are about six weeks from a crash, it may have started but there is no official data yet.

Started hearing about highly skilled engineers in my sector being given their notice today.

These people don't get binned in ones and twos as they are very hard to replace.

Surplus labour equals downward pressure on wages and with interest rates virtually zero there is no fat left in the housing market.

it won't be noticeable as a crash until end of Autumn at the earliest, but I hope you are right

[haroldshand]

8 minutes ago, TheCountOfNowhere said:

I remember saying in 2001... These price rises cant keep going... People agreed.... But keep going they did... Banking system collapse and still the plebs clamour for more. 

After 2005 it was never ever ever going to end well. 

"people agreed"

No, some people agreed, but most never.

[Green Devil]

5 minutes ago, Chewing Grass said:

I think we are about six weeks from a crash, it may have started but there is no official data yet.

Started hearing about highly skilled engineers in my sector being given their notice today.

These people don't get binned in ones and twos as they are very hard to replace.

Surplus labour equals downward pressure on wages and with interest rates virtually zero there is no fat left in the housing market.

Some poor sod losing there job isnt a crash. Hundreds of thousands of poor sods isnt a crash either.

The stock and property markets will not crash with trillions of pounds printed by the bankers sloshing around.

You need to be specific. If you mean jobs will be lost then yes.

[Chewing Grass]

8 minutes ago, Loki said:

A HPC or an everything crash, Mr Grass?

Probably everything when reality bites.

[TheCountOfNowhere]

11 minutes ago, Green Devil said:

Property is the UK economy. Why do you think to end lockdown they allowed long distance driving? To allow people to view houses. It will and has been supported at all costs. 

 

Agreed. Like the railway mania the people at the top are up to their necks in it. Itll end the same way, badly for most. I have a feeling sunaks being set up as the fall guy. No point worrying about it now as when the collapse comes not manys going to be glad theyre right. 

[Green Devil]

32 minutes ago, TheCountOfNowhere said:

Agreed. Like the railway mania the people at the top are up to their necks in it. Itll end the same way, badly for most. I have a feeling sunaks being set up as the fall guy. No point worrying about it now as when the collapse comes not manys going to be glad theyre right. 

Nah. They're all Complicit. Rudderless. With one aim, protect the 1%, and their assets. It's just the same shit different day. There won't be a collapse. Just a devalue of your cash. If you own assets, stocks, crypto or property you'll be right. 

[TheCountOfNowhere]

14 minutes ago, Green Devil said:

Nah. They're all Complicit. Rudderless. With one aim, protect the 1%, and their assets. It's just the same shit different day. There won't be a collapse. Just a devalue of your cash. If you own assets, stocks, crypto or property you'll be right. 

Devalue...food prices go up.... Hungry people are dangerous.

 

The british establishment are masters at not being hung by the mob, if it serves them to through several rich people under the bus, under the bus they go. 

 

Its a fine balancing act. 

[Frank Hovis]

8 hours ago, TheCountOfNowhere said:

Devalue...food prices go up.... Hungry people are dangerous.

 

The british establishment are masters at not being hung by the mob, if it serves them to through several rich people under the bus, under the bus they go. 

 

Its a fine balancing act. 

Food is cheaper now in the UK than it has ever been; it's ridiculously cheap when bought from supermarkets.

Even if it doubles in price it will still be less as a proportion of the weekly budget than it was in the fifties.

Forget food riots being the trigger to a HPC.

[MrXxxx]

47 minutes ago, Frank Hovis said:

Food is cheaper now in the UK than it has ever been; it's ridiculously cheap when bought from supermarkets.

Even if it doubles in price it will still be less as a proportion of the weekly budget than it was in the fifties.

Forget food riots being the trigger to a HPC.

Agree, ever wondered why they avoid housing in CPI/RPI indices...that's where unrest would come from, hence why so many government schemes to get the `unwashed` indebted...if you are `up to your eyeballs` in debt the last thing you are going to think about (& have the time/energy to do) is kicking off!

[Wight Flight]

1 hour ago, Frank Hovis said:

Food is cheaper now in the UK than it has ever been; it's ridiculously cheap when bought from supermarkets.

Even if it doubles in price it will still be less as a proportion of the weekly budget than it was in the fifties.

Forget food riots being the trigger to a HPC.

That is partly because rents were cheaper back then.

Will rent reduce as food prices rise? No, because the LHA sets the floor.

Tough times ahead.

[haroldshand]

2 hours ago, Frank Hovis said:

Food is cheaper now in the UK than it has ever been; it's ridiculously cheap when bought from supermarkets.

Even if it doubles in price it will still be less as a proportion of the weekly budget than it was in the fifties.

Forget food riots being the trigger to a HPC.

Totally agree

I am still amazed what I walk out of Lidl or Aldi with after a shop and eating like a king and washed down at the weekend with good wine or a few Malts. I am mostly a healthy eater, their veg/fruits, lean meats and pulses and fats are excellent, and I eat like this for a few hours work a week at most, just tell me in history where people are batter than I do?

[haroldshand]

2 hours ago, MrXxxx said:

Agree, ever wondered why they avoid housing in CPI/RPI indices...that's where unrest would come from, hence why so many government schemes to get the `unwashed` indebted...if you are `up to your eyeballs` in debt the last thing you are going to think about (& have the time/energy to do) is kicking off!

If people are finding food expensive then there is something seriously wrong with their financial control, housing for example and debt repayment

[TheCountOfNowhere]

3 hours ago, Frank Hovis said:

Food is cheaper now in the UK than it has ever been; it's ridiculously cheap when bought from supermarkets.

Even if it doubles in price it will still be less as a proportion of the weekly budget than it was in the fifties.

Forget food riots being the trigger to a HPC.

depends how much they go up,

[TheCountOfNowhere]

3 hours ago, Frank Hovis said:

Food is cheaper now in the UK than it has ever been; it's ridiculously cheap when bought from supermarkets.

Even if it doubles in price it will still be less as a proportion of the weekly budget than it was in the fifties.

Forget food riots being the trigger to a HPC.

tell that to marcus rashford 

[Green Devil]

20 minutes ago, haroldshand said:

If people are finding food expensive then there is some seriously wrong with their financial control, housing for example and debt repayment

I suspect if you buy ready meals every day, its gonna cost ya.

[TheCountOfNowhere]

3 minutes ago, Green Devil said:

I suspect if you buy ready meals every day, its gonna cost ya.

Out food shopping prices stayed static for years as we went from M&S to Waitrose to Sainos to Tesco to Morisson to Aldi.

When Aldi have to put their prices up everyone's in trouble. 

[haroldshand]

3 minutes ago, Green Devil said:

I suspect if you buy ready meals every day, its gonna cost ya.

Not that we are even close to it, but if we ever hit a troubling inflationary food shortage and as long as your cupboard is full of herbs and spices, I could make a healthy tasty meal for four for pennies, it's just knowing what you are doing and cooking from scratch 

 

[haroldshand]

2 minutes ago, TheCountOfNowhere said:

Out food shopping prices stayed static for years as we went from M&S to Waitrose to Sainos to Tesco to Morisson to Aldi.

When Aldi have to put their prices up everyone's in trouble. 

I don't shop in Aldi or Lidl in my case because I have to, I shop there because I want to and enjoy it and don't like throwing money away. I probably get 90% of my food there and use other sources for speciality  food and stuffs that I need such as spices.

[Frank Hovis]

33 minutes ago, haroldshand said:

If people are finding food expensive then there is some seriously wrong with their financial control, housing for example and debt repayment

Yes.

I won't link to it but there was yet another "live for £10 a week in London" stories on the BBC which was of course referring purely to food and was yet another cheap meal plan.

If however housing costs in London were at all reasonable relative to wages there would be zero need to be eating like you are in the workhouse whilst working full time.

[haroldshand]

https://www.telegraph.co.uk/business/2020/06/19/markets-live-latest-coronavirus-news-pound-euro-ftse-100/

 

This is the reality of what is coming, to depressed people who constantly keep saying "well the government will just blah blah blah and look after top 1%".  Well the  hands of the Tories are slowly being tied behind their backs, a lousy present Labour party are nearly neck and neck in the polls with the Tories right now and the economy when it resumes is going to lay off jobs like this country has never seen before in living memory.

It's no longer a case where they just skim off the poor, more poor will soon by added to the jobless pool and there is only a s*** economy to pay for the added jobless in a welfare system that will need topping up with even more £Billions.

It is as good as impossible to direct money at a property bubble when so many people are struggling to pay basic bills

[Long time lurking]

3 hours ago, haroldshand said:

If people are finding food expensive then there is something seriously wrong with their financial control, housing for example and debt repayment

I don`t think people are finding food expressive ,jit`s just everything else is when it come to the basics of life ,housing ,gas, electricity ,fuel ,council tax ,water rates ,if food was at the same level as that something would have to go unpaid 

Make no mistake about it we are in a cost of living crisis already 

 

[haroldshand]

8 minutes ago, Long time lurking said:

I don`t think people are finding food expressive ,jit`s just everything else is when it come to the basics of life ,housing ,gas, electricity ,fuel ,council tax ,water rates ,if food was at the same level as that something would have to go unpaid 

Make no mistake about it we are in a cost of living crisis already 

 

Agree.

And by far the main problem is housing.

What has been made clear to me very much now after I had been very Tory blinkered about the whole thing, is that a mass house building project, also a way to economic revival as just one of the positive infrastructure investment pluses along with the obvious better quality of life for so many people was never such an outrageous idea as we were led to believe. And the reason why we could never have this we were led to believe was cost, but now that I have seen the £100's Billions governments can come up with when needed to save banks I am now so angry about it.

Imagine also the decades of returned income in the form of government rental income that is now going to private landlords, it's now a no brainer to me

[Long time lurking]

7 minutes ago, haroldshand said:

Imagine also the decades of returned income in the form of government rental income that is now going to private landlords, it's now a no brainer to me

It`s always been a no braianer ,you just need a government that are not working on the banks behalf to implement it

Labour were supposed to be that party to do that but they were the ones that bailed out the banks the Tories had the best possible circumstances to let the market correct with the blame then laid at Labours feet but they choose not to 

Whats changed ?