Thought Id start this one going because its rather dead on this board at the moment and I suppose all my usual muckers are either at the Stella tennis event watching Dim Tim (lose again) or at Henly Regatta eating cucumber sandwiches (they wish,...NOT).

Anyway please feel free to just talk to yourself blast away and let it go on any company or subject you wish. Just wish Id thought of this one before.

cheers GF.

We are all going to need 100 k netting 80k to purchase a property, feed the family
and to run a car. Not going to be much left, and that is tight. Property prices have been the down fall of this country. They have in my eyes a third more to fall. Its going to hurt people going into negative equity. It would be so nice to purchase a property and just live in it, Without expecting it to double in value overnight. My parents 1st house they owned in the sixties for 5 years, sold for about 500 more then the purchase price. Property has out priced wages. The man who would like to sell his million pound home still needs the first time buyer at the bottom of the chain.
There are few first time buyers now, hence property must fall.

Dreamcatcher

Don't reply to his post's , which most posters here have agreed to do.

The one thing that will stop house prices falling is that price of rented accomodation is rising fast. There has been talk this week of people gazumping over rentals and offering to pay more than has been accepted already by someone else.

Rising rentals will encourage the buy to rent market for a start. If rentals stay high then people will find some way of buying.

Yes I confess I am a pop star to opera fan. Haystack another thought could be in the short term more rentals. Would a first time buyer purchase knowing the value could fall 20% + wiping out the deposit.
You do not get much of a house to rent here in Bishops Stortford,Herts for under
1000 month.What has sold in these parts ranging from 250,000 - 1,000000
is subject to contract. People are finding it very hard to get a morgage, with the banks asking a lot more questions. In blunt terms, Do we trust you to get our money back.

Landlords have also been the down fall of businesses ie shops, look at the pub industry. Rents have to be high due to property prices being far to high.Have landlords got to greedy ?
People are also renting because its going to take years to save the deposit.
Where is the housing market going. I hope not like Spain and USA.

There is a limit to rental returns.

A interesting market for me to watch is the student rental market.

With increasing University charges to students.

Real reduction in parental incomes.

Decrease in parental income.

Disillusionment of those of university age and more importantly, probably a large number of choosing to live at home and go to the local university than live further afield because lack of "family" support.

I live in an area where over the past ten years houses have been bought and advertised for rental.

Many of the houses are up for sale.

Attempts are being made to get out of the market.

This as well as lack of movement in the general "labour market" will drop the prices in the housing market. Possibly for another 18months to 2years.

I do agree with that analysis, Fred.

Boris Jonhson thinks we ought to let the Greeks go it alone (and with a new sub Euro currency called the 'drachma').

I also agree with that analysis too. The 'don't throw good money after bad', particularly when it's 'our money' might be the clincher on it.

Greece should never have been allowed into the Euro. They were refused once because they could make the Euro convergence criteria. The second time they faked it and the rest of Europe knew they faked it (Italy faked it the first time).

What about Turkey , can they be trusted ?

Turkey's economy is expanding much faster than almost any country in the Eurozone.

Bertrams, Het Parool (Amsterdam)
Rescue plan
29 March 2010 Cartoonist
Joep Bertrams (1946) is a Dutch political cartoonist. He has been working for the Amsterdam daily Het Parool since 1982 and produces animated political cartoons for the Dutch TV news show NOVA. With French support, Germany has finally presented a rescue plan for the Greek public finances. It was adopted by the eurozone members on 25 March.

There's no stopping you now that you know how to post images, lol

The pictures say it all

I am emigrating to Turkey. 15th largest economy in the world.

http://www.bbc.co.uk/news/uk-politics-13839381

Greek debt crisis: Straw says eurozone 'will collapse'

Jack Straw has predicted the collapse of the eurozone and urged the UK to consider the "alternatives" as the Greek debt crisis worsens.

The Labour MP and former foreign secretary said the euro was facing a "slow death" and the 17-member eurozone "cannot last" in its current form.

He was speaking as MPs discussed the prospect of a fresh bailout for Greece.

Treasury Minister Mark Hoban said it was in the UK's interest to "ensure the continuing stability" of the eurozone.

However, he insisted the UK would not be participating directly in any bailout and UK exposure to the Greek economy was "relatively small".

The countries which use the single currency have said Greece must agree further austerity measures before receiving 10bn, raising the prospect of the country defaulting on its debts should it be unable to do this.

'Going to collapse'

London Mayor Boris Johnson is among a growing number of UK politicians to call for this to be allowed to happen - and for Greece to leave the eurozone.

1. If Greece had kept the drachma, it wouldnt be in this mess: the markets would have imposed their own corrective years ago.

2. Prevented by euro membership from devaluing, Greece faces years of penury.

3. Taxpayers from the other 15 euro-zone countries are now having to borrow billions of euros in order to send them to Greece.

4. If Britain had not kept the pound, we would be in exactly the same situation: our deficit is set to exceed Greeces next year.

5. Nick Clegg wants to join the euro.

Related Quotes
Symbol Price Change
MXG1.BE 0.00 0.00


{"s" : "MXG1.BE","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} (c) Sky News 2011, 19:21, Monday 20 June 2011

Britain has not been asked to take part in any new European bailout of Greece, Downing Street has said.

The UK was not involved in the original 110bn euro (96.5bn) deal approved for Greece a year ago, which was put together by the eurozone countries to help save one of their own.

The only UK commitment came from its share of an International Monetary Fund (IMF (Berlin: MXG1.BE - news) ) contribution, in the form of loan guarantees.

That obligation would only be called in if Greece defaults.

At the time the prospect was dismissed as scare-mongering.

But with the pace of Greek deficit reduction painfully slow and the economic crisis far worse than feared, a second bailout is now inevitable.

However, Athens has been told it must approve 28 billion euros worth of spending cutss after parliament votes on Tuesday or it will not get the next instalment of a European bailout.

Meeting in Luxembourg, eurozone finance ministers decided not to sign-off on giving Greece another 12 billion euros just yet.

The country's government was told it has two weeks to approve tougher austerity measures before the EU-IMF loan is handed over.

This new rescue deal should not include any commitment from the UK.

Chancellor George Osborne has insisted Britain should not be part of any new aid package.

Germany and France have also indicated that Britain should not need to pay a share of a repeat bailout.

Prime Minister David Cameron's official spokesman told reporters on Monday: "There is no proposal on the table which would involve us.

"The arrangements in place for Greece are arrangements that involved eurozone countries, and we weren't involved in those arrangements."

Mr Osborne has already made clear at talks in Luxembourg that the issue remains one for the eurozone alone.

However, a bailout fund was set up by the EU after last year's Greek crisis, specifically intended to finance future economic problems in the member states, and it involves all 27 member states.

If a majority vote to use the fund for a second Greek aid package, rather than repeat a eurozone-only rescue, the UK Treasury would be responsible for 12% of the new loan guaranteed to the Greek government.

One UK official admitted there is "theoretical risk", but again, no money will be involved unless Greece defaults.

Last night Greek prime minister George Papandreou insisted his country would not default and is determined to crackdown on its mounting deficit.

He said failure to do so would be a "catastrophe".

Meanwhile, Boris Johnson has said Greece should be allowed to default on its debts and leave the euro.

Writing in The Daily Telegraph, the London Mayor said the single currency is responsible for aggravating the international financial crisis.

"The euro has exacerbated the financial crisis by encouraging some countries to behave as recklessly as the banks themselves," he said

Do you think UK is insulated against the failure of the Euro?

If so, think again.

Any failure will effect us more than people realise.