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[Maccaman]

Got to agree with a lot of what has been said. Unfortunately this time its worse than a recession & not restricted to just us. We wont see an upturn until the American economy starts to recover, but we will see better times before a lot of Europe.

 

Greed in the banks, over valuing properties etc., means they will now be the owners of houses that are not worth a fraction of the money they lent against them. Unfortunately this means political involvement in the financial arena which, as in other areas, is never good as they make decisions that show them in a good light instead of what really should be done. The biggest worry is all the borrowing & what effect it will have in the future when we have to pay it back.

 

We need another Maggie, as she didn't give a toss about doing the popular thing, but as usual with politicians, she lost her way eventually.

[rtbiscuit]

i liked maggie,

 

but i feel a move like that would upset most of scotland. they have very bad memories of the iron lady.

 

i worry about pricing and over paying etc, we just bought a house back in july, got it £35,000 less than its original pricing when they built it 6 months before that.

 

i would hate to think that we would still be in negative equity in 15 years time. we have a flat as well, and if prices never recover, well we're kinda screwed. both me and my partner could end up loosing 10's of thousands even 15-20 years in the future if prices don't return.

 

but my honest feeling is that the market will return to ins original level.

 

you only have to wait about 5-10 years after a reccession has finished and people (bankers) forget about the last one and soon return to there greedy ways.

 

i do think that this time round there is going to be more control, as the goveernment have a large stake now in the uk banking system. (i suppose we all do now as its our tax money)

 

i heard it phrased recently that we are entering a new era of capitalisim, a more refined version.