wednesday1 Posted October 7, 2010 Share Posted October 7, 2010 The problem was caused by Labour's easy borrowing policy designed to get people to spend. Problem is, as soon as the interest rates rose, that was that for credit. People could no longer afford their Labour encouraged greed. That means they had to sell their homes but couldn't at the stupid prices they had been encouraged to buy them at. This means a they are forced to sell at a loss. That means they still have debt but no house any more. They aren't spending so genaral sales are well down. Not really good news for anyone. All caused by Labour policies but the lefty cretin element want us to believe a few months of new policies have caused it all. That silly story won't feel anyone. The problem is, is the way the economy was skewed under 18 years of Tory rule in which they destroyed the manufacturing base of this country in favour of the service economy and the financial services. Labour did not attempt to reverse this decline either. The chickens are coming home to roost now though. Even Smarmy Dave and Lapdog claimed the economy needed rebalancing in favour of manufacturing, within days they rejected Sheffield Forgemasters loan! Link to comment Share on other sites More sharing options...
truman Posted October 7, 2010 Share Posted October 7, 2010 The problem is, is the way the economy was skewed under 18 years of Tory rule in which they destroyed the manufacturing base of this country in favour of the service economy and the financial services. Labour did not attempt to reverse this decline either. The chickens are coming home to roost now though. Even Smarmy Dave and Lapdog claimed the economy needed rebalancing in favour of manufacturing, within days they rejected Sheffield Forgemasters loan! I knew it'd be Thatcher's fault.... Link to comment Share on other sites More sharing options...
wednesday1 Posted October 7, 2010 Share Posted October 7, 2010 I knew it'd be Thatcher's fault.... You do occasionally make sense! Link to comment Share on other sites More sharing options...
mrswoo Posted October 7, 2010 Share Posted October 7, 2010 I can afford mine and could afford it if I were buying it today.... The above quote bought to mind a very significant one by Lily Tomlin-'We're all in this together-by ourselves', capitalism at it's best...enough said! Link to comment Share on other sites More sharing options...
chem1st Posted October 7, 2010 Share Posted October 7, 2010 Keep your hope up (but it wont make the house prices fall) Granted. Higher interest rates. Less lending, of lower amounts, at higher rates. Increased unemployment, government cuts. And demographic changes will be what makes the prices fall. Link to comment Share on other sites More sharing options...
truman Posted October 7, 2010 Share Posted October 7, 2010 The above quote bought to mind a very significant one by Lily Tomlin-'We're all in this together-by ourselves', capitalism at it's best...enough said! Don't understand your point... Link to comment Share on other sites More sharing options...
truman Posted October 7, 2010 Share Posted October 7, 2010 Granted. Higher interest rates. Less lending, of lower amounts, at higher rates. Increased unemployment, government cuts. And demographic changes will be what makes the prices fall. But the supply side (houses for sale) will fall also.... Link to comment Share on other sites More sharing options...
chem1st Posted October 7, 2010 Share Posted October 7, 2010 But the supply side (houses for sale) will fall also.... Were overdue a massive council house building program, and the strain were about to see on our lack of social housing as repossessions increase, will make the building program a vote winner. Link to comment Share on other sites More sharing options...
spindrift Posted October 7, 2010 Share Posted October 7, 2010 Were overdue a massive council house building program, and the strain were about to see on our lack of social housing as repossessions increase, will make the building program a vote winner. I heard councils were renting back privately-owned council properties. The owners had bought under Right-To-Buy, then rented them back to the council for 3 times what they used to pay in rent! madness. Link to comment Share on other sites More sharing options...
Bonjon Posted October 7, 2010 Share Posted October 7, 2010 But the supply side (houses for sale) will fall also.... thus forcing house prices up!! And there are no indications of intrest rates rising, less lending, more unemployment etc. etc. Infact forcasts are showing intrest rates to stay the same or go lower!! Link to comment Share on other sites More sharing options...
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