Green Shoots In Housing Market?

  Geronimo. 10:02 18 Jan 2009

Do you really belive this story..? its was Green Roots twice this week then.
I dont belive this for one minute more so looking at the predictions announced recently, I just cannot see the housing market turning around in the near future, this is a coincidence when the goverment is about to trail another so called "spend our billions injecting" scheme into mortgages, Whilst i think its a good idea to try i think theyve WAY over stepped the mark stating this.

click here

  Quickbeam 10:21 18 Jan 2009
  GANDALF <|:-)> 10:28 18 Jan 2009

Around here some houses are going for half the price that they were in early 2008 so I'm not sure where the green shoots are.

However the Government has clearly lost what little grasp of the plot that they had. They seem to think, flying in the face of economic reason, that we can borrow our way out of this both publicly and privately. This has never worked when there was a strong manufacturing base...we do not have that and I realise that the supermarkets are taking on more staff but not wishing to be uncharitable, this is not work that will repair and support the economy. It will take people off benefits but that is all service industry employment will ever do.

The banks have clearly lied through their back teeth about their debts (and there is a LOT more to come *cough* RBS, Barclays, HBOS B&B *cough* and if I was PM, I would be banging up in chokey most of the boards of the UK banks. I wrote last August that there was much worse to come and there is. The banks have run out of cash which is why they went cap in hand to Gordy B. at a summit meeting in Chequers last Monday and why Barclays are culling staff like there is no tomorrow (the rest will shortly follow suit).

We are in a total mess because of unsustainable and irrational borrowing, huge credit debts, over-priced housing, coupled with a raft of idiotic money transfer schemes from the almost criminal actions of the banks who cared only for money and bonuses and cared NOTHING for their customers. The Goverment wants us now to....... errrrmmmmm..... borrow more? Anyone else fail to see the logic within.

I know that there is a section of society that likes to think that no one could do the jobs of the banks and the PM but they are in an almighty mess and whatever they do (there are few or no choices so a degree in rocket science is not mandatory). These people seem to think that banking is an arcane mystery but from what I've seen and read it seems to be an industry populated by a bunch of spivs, gambling addicts, barrow boys and shysters, whose only talent was to try and cover their exposed behinds. Both banks and Government were once put on a pedestal for their sagacity and guidance...they have failed miserably and are now in a totally indefensible position.

The next 12 months will be much harder than we were led to believe and the 'green shoots' might turn out to be toxic in extremis. Too many people are still sticking their heads firmly in the sand and yelling 'it'll be alright our Edna, t'powers that be'll save us skins'.


  Quickbeam 10:32 18 Jan 2009

'it'll be alright our Edna, t'powers that be'll save us skins'.
That's my saviour hopes down the pan then...

  GANDALF <|:-)> 11:00 18 Jan 2009

'I'm getting more than a little fed up with those people who enjoy saying it's all much worse than it is because that will become a self-fulfilling prophecy'...otherwise known as being realistic and avoiding sand in the ears.


  Quickbeam 11:04 18 Jan 2009

"survey data suggests that more people are asking estate agents for information on property for sale."
They're either worried about the value being strangled by the weeds of recession or in a position to bag a bargain before the green shoots become a jungle.

  Colin 11:07 18 Jan 2009

I agree that 2009 will be an extremely difficult year for everybody and most likely into 2010. I am under no illusions about that but I also agree with fourm member's self-fulfilling prophecy post. The media have a responsibility to tell us how it is but they seem to appear to relish each new job loss/economy report like ghouls!

  GANDALF <|:-)> 11:23 18 Jan 2009

...but if they did not report it you would all be wailing about the integrity of the news services. The simple fact is that people hate bad news that directly affects them. 200,000 killed in Rwanda and it's ho-hum but jobs lost in the UK and pensions being shafted and there is a collective wail of 'self fulfilling prophecy'. The phrase seems to be used as a sucky blanket to insulate those that may be on the pointy end. The mess that we are in will not be affected by shouting 't'is a self fulfilling prophecy' but if it makes people feel better, then so be it.

If a spotty youth from a sink estate grabbed anyone of us in the street and robbed the contents of our wallets there would be a collective shriek of 'hang him high' but when the banks rip us off then all seems to be OK and everyone starts frantically tugging their forelocks and spouting servile statements.

Hey-ho, as it was so shall it ever be.


  GANDALF <|:-)> 11:25 18 Jan 2009

hmmmmm...3.3% of the total workforce is rather a lot in my world.


  AL47 11:29 18 Jan 2009

this recession is being used as a good excuse to ditch staff

the difficult time for me is not now, but when all this VAT cut, bank loans etc have to be pad back! damn government! i have a strong dislike for brown, too puy it mildly

  oresome 11:36 18 Jan 2009

The certainty is, there will be a recovery. The uncertainty is when. It could take one year, it could take over twenty as in Japan.

The other certainty is that growth can't continue at the rates experienced until recently without some technological breakthroughs. There simply isn't enough oil and other raw materials to sustain it.

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