TelBoy

Not sure i agree. When did the Government last express a preference for whether the property market goes up or down? As long as the Bank of England is delivering their inflationary goals, it's pretty irrelevant to them. In fact, you could easily argue that with an election looming, the Government would prefer the market to be rising for the feelgood factor that it generates...

shunty

so all the mentions on the news, property type programs & newspaper articles stating that the market is about to crash isn't being instigated by the goverment....yeah right this has been going on most of the year & in fairness to them they have acheived what they wanted, that coupled with 5 interest rate rises.
Can you rnot emember the govenor of the bank of england saying that a house price crash was looming in about Feb this year.......what was that all about then??

shunty

shunty

forgot to add, the government stopped doing this about 2 months ago, that's so you forget before the elections & still vote for them.....as you stated in the last part of your reply....they got there bit in early in the year....not as daft as they appear sometimes.

shunty

TelBoy

Personally i believe that the BoE do operate with more autonomy than you're suggesting. There's no reason why the Government would want a housing price crash. Why would they? I think Mervyn King was right to warn of the dangers of an overheated market. After all, people started to stop and listen rather than continually out-bidding each other for whatever property came onto the market. I'd say that was a good job done.

Right now, as evidenced by Barker yesterday, they might well have reached the end of the hiking cycle, and will now adopt a "wait and see" approach. If there's anyone who wants to avoid a crash, it will be the MPC, as the blame will laid squarely at their door if there is.

shunty

"Personally i believe that the BoE do operate with more autonomy than you're suggesting."

really......we are all entitled to our opinion. I don't know if I'm right, but history says I probably am....after all think how many business deals are done on the golf course

shunty

shunty

ps for everyone on both threads, I am not frantically doing googles for info on this to better my statements (apart from the GMTV one as I was slurping me coffee earlier)....as I said I have followed this particular item quite closely all my life.
this has probably been due to the fact that 50% of my wages seem to dissapear into it

shunty

TelBoy

I wouldn't say there's historical evidence, other than perhaps at or around the time of general elections. But no way are the nine members of the MPC wined and dined into a decision they don't want to make. Of course the Government has to have close contact with the BoE about the overall direction of the economy, but the whole reason for making the BoE independent was to factor out the political manouvering which had clouded the Bank's actions in the past.

shunty

As I said telboy, I don't know for sure just pure guess work, but I bet I'm right.
speedkings really into this property stuff on the other thread, doesn't he realise it's all a big game which we have NO control at all, that's why we british spend all our days counting our money & talking about how much our houses are worth & working incredibly long hours, instead of spending quality time with our family & friends & stop competing with everyone.
I think it really is that simple, back to basics but in a different way to the government one, of course I'm going off topic a bit.....but am I really
That's why the UK is the most hated/laughed-at european country.

shunty

TelBoy

It is??

shunty

yes, but untill you admit it to them they won't tell you...after all we are also the most aggressive european country.
Thats why the UK comes top overall (add them all together & get the mean) in all the **** poles. Unless all these fly on the wall documentry's are wrong then

It's like being an alcoholic, untill you admit it to yourself then there doesn't appear to be a problem.

shunty

shunty

listen, I've got to go now. I have enjoyed our discussions & I do appreciate that you & others probably know a lot more than myself about interest rates, government policies & the like....just a word of advice though: don't waste too much time on it all....like I said it's only a game, whereas your family, friends & quality of life are not....
Just think if you got diagnosed with cancer today would you have the same outlook??
& no that's not my situation.
I won't be back today because I am taking my kids out & cooking a meal then making love to the wife tonight. After all I don't want to waste my life on bbs's now do I

I do still watch from time to time though

shunty

TelBoy

LOL, it's my job, but i'll pass your thoughts onto my boss!!