Doom and gloom

[Lee Winger]

No matter which news paper or which tv channel you watch, all you see is doom and gloom forcasted for the 2008 economy.

 

The first thing thats pops up when I put the net on is an AOL page sayig 20k will be lost on every average priced house next year...

 

This kind of thing I don't want to see being a small business owner....

 

 

 

http://money.aol.co.uk/house-prices-predicted-to-fall/article/20080101061609990004

 

More doom http://money.aol.co.uk/financial-strife-link-to-boozing/article/20071231233009990006

[Oakwilt]

How many Brits think the problems started over here, in the U.S., with our war of terror, of drugs, for oil, and God?

[Lee Winger]

I do for one, but we can't blame it all on the USA most are up to there eye balls in debt over here, thanks to credit cards and banks ripping the general public off over inflating the price of houses , making the fools think they're super rich etc

 

Another thing if we had voted in the liberal democrats we wouldn't be in Iraq, that alone would of saved this little island billions! oh no we voted in Tony Blair now look where we are..

[MasterBlaster]

I do for one, but we can't blame it all on the USA

 

 

Yes Oakwilt can!

[Old Monkey]

We didn't force them to invest in our bad loans. They did it because it was a great way to make a buck during our housing boom.

 

Ghandi hey? I am sticking with my buddy Tito. His pict suits me somehow.

[Mr Ed]

The mass buying of US sub prime lending by european banks did'nt help, especially as the loans were packaged as prime.

 

I dont blame the war on 'terror' as a BIG factor in the current UK economic downturn, but it has'nt helped.

 

Lets face it, we're reaping 12 years of having Gordon Brown in charge. He's the one who's driven economy growth on the back of inflated property values and borrowing.

 

We have no core industry, exports or manufacturing in the UK. Most of our GDP is earned by the 2 square miles that is the city of London, the financial markets. We insure half the world now. And not much of that cash filters down....

 

Trouble is, we're in a position where the financial markets call the shots with the government. The pound stays high because with the death of the DueschMark, if you want to trade between dollars or euros, the pound is the centre benchmark.

 

So for the forseeable future in the UK, expect the poor to get poorer, the super rich to get richer, and the rest of us poor sods will scrabble around for crumbs, paying for our burgeoning social state.

 

Happy new year? Bah Humbug!

[A_lopa]

Well theres ALOT of people around here who've made real money out of the property market,hard to tell whats going to happen but i cant see the good propertys getting any cheaper!

 

The mining sector here just cant supply enough.

[Mike Hill]

Well theres ALOT of people around here who've made real money out of the property market,hard to tell whats going to happen but i cant see the good propertys getting any cheaper!

QUOTE]

 

Same thing happened in New Zealand,high dollar,plus an economy fueled by the propery boom ment that in some parts of the country house prices have quadupled in eight years.The average wage has remained pretty much the same for the last decade.

Foreign people buying property in the most scenic area's pushed sellers away and into less affluent areas of the country,meaning that local people couldn't afford to buy locally and so moved away.

A small section in the area I grew up in sells for what a house did ten years ago.

[Old Monkey]

We have no core industry, exports or manufacturing in the UK. Most of our GDP is earned by the 2 square miles that is the city of London, the financial markets. We insure half the world now. And not much of that cash filters down....

 

Are you forgetting:

 

http://www.chicagotribune.com/entertainment/chi-harry-potter_pdec31,1,2153911.story?track=rss

[Yorkshireman]

No matter which news paper or which tv channel you watch, all you see is doom and gloom forcasted for the 2008 economy.

 

The first thing thats pops up when I put the net on is an AOL page sayig 20k will be lost on every average priced house next year...

They may Although I doubt anything >10% retrace

that said, house prices have gone up year on year some by as much as 3-4 fold in recent last 10 years so a 40k house is now over 200 k therefore 20k isnt that bad for those you have been within the housing market over 3 years + personal negative equity lock in issues will stop a flop, I believe thatmore people are locking in their mortgage for the next 2-3 yrs

 

personally if at all the retail 'high st' may suffer

But when people dont spend at the shops or on a holiday they still believe that bricks & mortar are a good long term investment therefore we may see a return to a landscaping / garden makeover phase