Whom ever wins the election... loses....

[tamore]

Political Pain said:

Mortgage or not!

If your house has burgeoned in 'value' in the last 10 years [probably everyone except a few places dotted around the UK] then you're in!

Housing stock.

Edited by Political Pain on Thursday 29th April 20:15

utter bks. so if some old biddy (potentially in rochdale ) has had no mortgage since the 80s/ early 90s, they are in some way complicit in the debt bubble?

[Political Pain]

Probably, yes!

You would have to have no credit card, no bank loans [borrowing], to duck out of some share of the blame.

You may not have been a willing or knowing partner but you can hardly avoid it, the nice car you bought was secured somewhere... your home is at risk etc etc.

Almost veryone and I mean almost everyone has benefitted from the huge spike in house prices that was taken off of one financial account to another by this government.

[NiceCupOfTea]

Political Pain said:

Probably, yes!

You would have to have no credit card, no bank loans [borrowing], to duck out of some share of the blame.

You may not have been a willing or knowing partner but you can hardly avoid it, the nice car you bought was secured somewhere... your home is at risk etc etc.

Almost veryone and I mean almost everyone has benefitted from the huge spike in house prices that was taken off of one financial account to another by this government.

Is that so rare? I pay off my credit card every month, don't have any loans or overdrafts, and a relatively small mortgage.

[NiceCupOfTea]

tamore said:

NiceCupOfTea said:

That analogy makes a lot of sense - but in these terms how does Gordon Brown claim that his plan to keep spending will work? I am no economist and am trying to understand why spending when we are already broke will help?

exactly, the only thing that's going to get us out of this steaming turd heap is a (very) healthy private sector. all he seems to want to do with the private sector is tax it into oblivion.

Yes, but what I am asking is:

How is he justifying it? He must have some reasoning for thinking that it will sort the economy out?

[tamore]

NiceCupOfTea said:

tamore said:

NiceCupOfTea said:

That analogy makes a lot of sense - but in these terms how does Gordon Brown claim that his plan to keep spending will work? I am no economist and am trying to understand why spending when we are already broke will help?

exactly, the only thing that's going to get us out of this steaming turd heap is a (very) healthy private sector. all he seems to want to do with the private sector is tax it into oblivion.

Yes, but what I am asking is:

How is he justifying it? He must have some reasoning for thinking that it will sort the economy out?

don't think that comes into it. he's intoxicated on power and if it means staying in power, the country's economy plays 2nd fiddle. he'll be fine personally.

[Political Pain]

NiceCupOfTea said:

Political Pain said:

Probably, yes!

You would have to have no credit card, no bank loans [borrowing], to duck out of some share of the blame.

You may not have been a willing or knowing partner but you can hardly avoid it, the nice car you bought was secured somewhere... your home is at risk etc etc.

Almost veryone and I mean almost everyone has benefitted from the huge spike in house prices that was taken off of one financial account to another by this government.

Is that so rare? I pay off my credit card every month, don't have any loans or overdrafts, and a relatively small mortgage.

Maybe, maybe not. I don't know.

I do know that the housing price has more than doubled in the time labour policies have been in sway even allowing for what should have been the 'natural' rise of 2-5% pa.

So if you halved the value of your house and then looked at your mortgage against that figure a different [possibly very different] picture emerges.

The point to remember that housing stock value is used by all the banks as vehicles to allow the very speculation that brought the first part of this recession in to play.

I say first part because there has to be a re-alignment and this serious so far has not been addressed.

Owning a house makes you part of the problem, you can't get out of it, neither the house or the responsibility.