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1371 Days of QE just ended (for now)


Green Devil

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See 1.57 for the graphs of QE vs House Prices.

2,600,000,000,000 Euros created ( i had to check the number of zeros on the end).

Per Person in eurozone 7,614E.

How much have you had?

 

 

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UnconventionalWisdom

Thanks for the links. Will have a listen. Yanis Varoufakis speaks a lot of sense. 

I wish more people would care about the financial manipulation that's taken place. The sheep at my work often watch newsnight, read up on their politics and are happy to regurgitate it. Never once do they actually take a set back and look at bits like the money creation and how much of a disaster it has been for society. 

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4 hours ago, Green Devil said:

 

See 1.57 for the graphs of QE vs House Prices.

2,600,000,000,000 Euros created ( i had to check the number of zeros on the end).

Per Person in eurozone 7,614E.

How much have you had?

 

 

nothing yet but ive got a cunning plan

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2 hours ago, Chewing Grass said:

Steve Keen on ECB ending QE and his predicted  knock on effects.

 

Steve  keen is on the 2nd half of the first vid i posted talking about the australian housing pon zi.

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sancho panza
On 30/12/2018 at 19:47, Green Devil said:

Steve  keen is on the 2nd half of the first vid i posted talking about the australian housing pon zi.

Always worth a watch old Steve

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On 31/12/2018 at 22:31, Green Devil said:

You havent had any? Neither have i :PissedOff:

Near record numbers of FTBs has been the chief consequence.

In other words, mission accomplished.

Quote

The number of first-time buyers getting on the property ladder with a mortgage in the last 12 months was at its highest level since 2006, according to estimates from a building society.

Across the UK, 367,038 first-time buyers secured mortgages in 2018, up from 362,800 in 2017, analysis from Yorkshire Building Society suggests.

The figures suggest first-time buyer levels now represent half (50%) of all homes bought with a mortgage.

The Yorkshire said its findings indicate the first-time buyer mortgage market share across 2018 reached its highest levels since 1995, when 53% of all mortgage-financed homes were bought by first-time buyers.

It made the calculations based on market-wide first-time buyer data from trade association UK Finance using figures which run up to October.

The society also estimated figures for November and December based on previous first-time buyer patterns.

The analysis indicates the number of first-time buyer mortgages in 2018 was nearly double of that in 2008 (193,300) and stood just 9% lower than a pre-crisis peak of 402,800 in 2006.

Nitesh Patel, Yorkshire Building Society’s strategic economist, said: “Property prices have grown at a faster rate than wages over the past decade, which has created difficulties for first-time buyers.

https://uk.finance.yahoo.com/news/first-time-buyer-mortgage-numbers-000100887.html

 

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On 30/12/2018 at 17:26, UnconventionalWisdom said:

Thanks for the links. Will have a listen. Yanis Varoufakis speaks a lot of sense. 

I wish more people would care about the financial manipulation that's taken place. The sheep at my work often watch newsnight, read up on their politics and are happy to regurgitate it. Never once do they actually take a set back and look at bits like the money creation and how much of a disaster it has been for society. 

The problem is, nobody wants to listen to him!...ECB threatened and the Greeks stood in line, when they should have stood firm. 

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2 minutes ago, MrXxx said:

The problem is, nobody wants to listen to him!...ECB threatened and the Greeks stood in line, when they should have stood firm. 

The problem is when they threatened to turn off the cash machines he didnt really have any option.

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14 minutes ago, zugzwang said:

Near record numbers of FTBs has been the chief consequence.

In other words, mission accomplished.

 

Yes. Raise prices by 25% for ftb s thanks to htb who get it for free off the governbankment. And price out all the 2nd or 3rd steppers.

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5 minutes ago, Green Devil said:

The problem is when they threatened to turn off the cash machines he didnt really have any option.

True...shows the importance of having a sovereign currency!

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3 hours ago, MrXxx said:

True...shows the importance of having a sovereign currency!

Indeed and why UK should simply say Get Stuffed EU.

Watch the euro flock to GBP once we are rid of the shackles of the Euro.

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12 hours ago, zugzwang said:

Near record numbers of FTBs has been the chief consequence.

In other words, mission accomplished.

 

The Yorkshire said its findings indicate the first-time buyer mortgage market share across 2018 reached its highest levels since 1995, when 53% of all mortgage-financed homes were bought by first-time buyers.

It made the calculations based on market-wide first-time buyer data from trade association UK Finance using figures which run up to October.

The society also estimated figures for November and December based on previous first-time buyer patterns.

The analysis indicates the number of first-time buyer mortgages in 2018 was nearly double of that in 2008 (193,300) and stood just 9% lower than a pre-crisis peak of 402,800 in 2006.

Nitesh Patel, Yorkshire Building Society’s strategic economist, said: “Property prices have grown at a faster rate than wages over the past decade, which has created difficulties for first-time buyers.

Yeahbut ... in 95 LTE were at a multi decade low and IRs were falling.

in 2008 LTE are a multi years high and IRs are rising.

 

 

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22 minutes ago, spygirl said:

The Yorkshire said its findings indicate the first-time buyer mortgage market share across 2018 reached its highest levels since 1995, when 53% of all mortgage-financed homes were bought by first-time buyers.

It made the calculations based on market-wide first-time buyer data from trade association UK Finance using figures which run up to October.

The society also estimated figures for November and December based on previous first-time buyer patterns.

The analysis indicates the number of first-time buyer mortgages in 2018 was nearly double of that in 2008 (193,300) and stood just 9% lower than a pre-crisis peak of 402,800 in 2006.

Nitesh Patel, Yorkshire Building Society’s strategic economist, said: “Property prices have grown at a faster rate than wages over the past decade, which has created difficulties for first-time buyers.

Yeahbut ... in 95 LTE were at a multi decade low and IRs were falling.

in 2008 LTE are a multi years high and IRs are rising.

 

 

They (the homebuilding/selling industry) have really cut their legs from under themselves...these FTBs will never be able to make the move up due to leverage position, as the new influx will not want to pay the required amount when they can get a second level home for the same money (these having dropped in price due to the lack of FTBers moving up)...

...where this final financial issue was solved before by Bomad this capital will no longer be in the system, and whilst the occasional flux of inheritance from sold properties will become available, it will be vastly reduced due to declining values/lack of demand...

...all for short term gain at the cost of long-term stability, and these people call themselves businessmen!

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UnconventionalWisdom
3 minutes ago, MrXxx said:

They (the homebuilding/selling industry) have really cut their legs from under themselves...these FTBs will never be able to make the move up due to leverage position, as the new influx will not want to pay the required amount when they can get a second level home for the same money (these having dropped in price due to the lack of FTBers moving up)...

It's amazing that so many young people think getting an over-priced decorated prison cell will be the path to a big house. Not surprising though as older people state they did this even though they thought it was too expenses and that their renter mates that didn't got left behind. 

Hopefully, a falling market will teach people some lessons. 

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8 minutes ago, UnconventionalWisdom said:

It's amazing that so many young people think getting an over-priced decorated prison cell will be the path to a big house. Not surprising though as older people state they did this even though they thought it was too expenses and that their renter mates that didn't got left behind. 

Hopefully, a falling market will teach people some lessons. 

I dont think its that many, thank god.

A fair few yes.

 

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15 hours ago, spygirl said:

The Yorkshire said its findings indicate the first-time buyer mortgage market share across 2018 reached its highest levels since 1995, when 53% of all mortgage-financed homes were bought by first-time buyers.

 

Yes but what were the absolute transaction numbers in both years ?   It is easy to turn 50k transactions a year into 53% FTB, not so easy to turn 500k transactions a year into FTB.   % means nothing at such low volumes, no 2nd/3rd steppers.   The percentage makes a good positive sound bite but hides the other actual problem.

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15 hours ago, spygirl said:

I dont think its that many, thank god.

A fair few yes.

 

Mine are still sitting at home, saving money and waiting for the crash. 

I think my advice, gleaned from tos has come back to bite me. xDo.O

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Wight Flight
44 minutes ago, One percent said:

Mine are still sitting at home, saving money and waiting for the crash. 

I think my advice, gleaned from tos has come back to bite me. xDo.O

So are mine. But they leave on Sunday and Monday.

Been nice seeing them.

😁😁😁

 

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7 hours ago, One percent said:

Mine are still sitting at home, saving money and waiting for the crash. 

I think my advice, gleaned from tos has come back to bite me. xDo.O

Youve mentioned that they are aware of MMR. Good.

Most people in tord spot arent.

Now wait for the holiaye lets review to complete.

Holidaye lets pay c tax - that would be 20/30% off hosing.

Holiday lets pay ctax x 2 - 30% off.

Holiday lets pat rates - 50% off.

 

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