local property auctioneer graham penny (i knew his mrs, a sports teacher...lol) reports that his latest auction was packed with people...a rise since the last auction and that "theres a perception that the property market has bottomed out, people are looking to invest in property now before the prices start to rise" , and rise they have! several punters reported dropping out as prices rose from the 50k mark upto 80k...

I expect seasonally adjusted property prices in real terms to continue slowly falling until well after the election.

That means pretty much bugger all mate... There's still pretty much thousands upon thousands of people losing their jobs every week (which is surely a tad more of an important indicator than a local property auctioneer claiming to have a few more people at an auction than last year...), and I seriously doubt the massive debt's been paid off or the enormous black hole in the economy has been sorted, so, sorry, I dont think I really buy this "economic recovery" cr@p..... :P

Estate agents, auctioneers and news paper reports (also labour politians and anyone with a morgage) have a vested interest in talking up the property market. So I tend to approach such information with great caution. When was the previous auction? As comparision is give relative to that with no information when it was.

Also what sort of property only makes 80k? I'm not sure what that is. In my part of the world it's pretty unlikely any livable property could be sold for that price.

 

Grimly's comment on levels on unemployement is fair, but unemployement won't stop the property market from improving at some point. In previous economic downturns unemployment figures have been a lagging indicator.

 

 

Grimly's comment on levels on unemployement is fair, but unemployement won't stop the property market from improving at some point. In previous economic downturns unemployment figures have been a lagging indicator.

 

I just dont happen to believe that property markets should really be the 'be all and end all' of how you determine whether an economic downturn has stopped.... Unemployment is surely a greater indicator... The less people in work, the less money they have, ergo the less they spend in the shops to improve the economy.... Also, less people in work means more money has to be spent in unemployment benefits, so again, less money going into the exchequer in taxes, and more going out in benefits....

 

Whichever way you cut it, this country is still in an absolute mess, and will remain so for a very long time to come.....

 

There is no jobs in my area (Medway) at all if you are lucky you might find the odd job, LLoyds are closing one of their financial sectors at Chatham docks and since Woolworths have been gone, other places are still struggling, I can't see the country recovering very soon. Most job centres are putting the unemployed into community service, if they are unemployed for longer than a year, you have to do the community service to bring the unemployment numbers down or else no benefits, and how does that work if they are still claiming while doing community service.

That means pretty much bugger all mate... There's still pretty much thousands upon thousands of people losing their jobs every week (which is surely a tad more of an important indicator than a local property auctioneer claiming to have a few more people at an auction than last year...), and I seriously doubt the massive debt's been paid off or the enormous black hole in the economy has been sorted, so, sorry, I dont think I really buy this "economic recovery" cr@p..... :P

And I don't see how consecutive economic growths of 0.1% and 0.2% means we're 'close to getting out of recession' when the months before that we had downturns of 3% :lol:

you have to do the community service to bring the unemployment numbers down or else no benefits, and how does that work if they are still claiming while doing community service.

 

Well, exactly.... That's not bringing down unemployment or job creation, all that is is merely massaging the figures and creating false and misleading stats.... Which is what the Labour party criticised the previous Tory administration for doing in the 80s and 90s when they did YTS, Training for Work, etc.....

 

Well, exactly.... That's not bringing down unemployment or job creation, all that is is merely massaging the figures and creating false and misleading stats.... Which is what the Labour party criticised the previous Tory administration for doing in the 80s and 90s when they did YTS, Training for Work, etc.....

The main political parties all lie - most of the time, often indirectly, it's in there interest because people are so gullible and don't see through the lies, read half the threads on this forum. Politicians lie, get over it.

 

I heard it say recently that the % not employed in the US is at or approaching 25% of the working population.

 

I don't know what the figures are in the UK. So at the moment can only speculate. We do know from government figures however benefit payouts will exceed income from income tax this financial year. That does suggest that the % of none workers in the UK is rather large.

The main political parties all lie - most of the time, often indirectly, it's in there interest because people are so gullible and don't see through the lies, read half the threads on this forum. Politicians lie, get over it.

 

I heard it say recently that the % not employed in the US is at or approaching 25% of the working population.

 

I don't know what the figures are in the UK. So at the moment can only speculate. We do know from government figures however benefit payouts will exceed income from income tax this financial year. That does suggest that the % of none workers in the UK is rather large.

 

I dont think we really should just "get over" politicians lying mate... In the past, if a politician was caught out on a blatant lie, they'd resign (for example, Anthony Eden resigned over lying about the Suez Crisis in 1957, whereas Tony Blair clung onto power like grim death...). I think we've just come to accept politicians lying to us for far too long tbh.... And, yeah, people are gullible, but whose fault is that, the Tabloids keep us all stupid and under-informed....

 

I would say that the actual non-employed figure is massive.... In fact, I'd go so far as to say, it's probably at least 20% of the population, if not more.... It must be the first time in this country's history that benefits payouts will actually exceed Income tax...... That's simply an absurd situtation to be in.....

Another thing students that are about to leave, or already left, how they expected to find a job in this climate at the moment, after all their hard work. Also employers are most likely to employed them as cheap labour, which does not solve the existing unemployment, they should come first.

Can someone correct the spelling in the title.

Another thing students that are about to leave, or already left, how they expected to find a job in this climate at the moment, after all their hard work. Also employers are most likely to employed them as cheap labour, which does not solve the existing unemployment, they should come first.

They'll probably end up like me and will be working as bar people or waiters! I graduated last year and have been working in a pub for a while now, I'm starting to do some Admin work voluntarily alongside in the hope that that'll help me gain more experience and I'll have more chance of getting a decent job that way.

Can someone correct the spelling in the title.

 

Rob will probably claim that he was spelling "signe" in the Olde English way...... :lol: :lol:

And I don't see how consecutive economic growths of 0.1% and 0.2% means we're 'close to getting out of recession' when the months before that we had downturns of 3% :lol:

To be fair, it's got to start somewhere. It's not just going to miracally grow by 2% a quarter is it. That's what everyone was ridiculing Darling for only couple of months ago at the budget. And it's better than negative growth again, if the economy is growing (even at 0.1%) it obviously means that some industry is at least improving. It's nothing to get excited about or anything, but it is (hopefully anyway) a start, and there has to be a small start to begin with...

Edited July 11, 200915 yr by RabbitFurCoat

Rob will probably claim that he was spelling "signe" in the Olde English way...... :lol: :lol:

 

lol... i was.... :P

 

nah im just illiterate.

Estate agents, auctioneers and news paper reports (also labour politians and anyone with a morgage) have a vested interest in talking up the property market. So I tend to approach such information with great caution. When was the previous auction? As comparision is give relative to that with no information when it was.

Also what sort of property only makes 80k? I'm not sure what that is. In my part of the world it's pretty unlikely any livable property could be sold for that price.

 

Grimly's comment on levels on unemployement is fair, but unemployement won't stop the property market from improving at some point. In previous economic downturns unemployment figures have been a lagging indicator.

 

well graham penny is a hard core christian, so i doubt whether he is telling much of a lie! his auctions are every 3 months, and the latest one saw alot of people, standing room only, at his auction. interest on this basis has increased since march as like he said, theres a perception that the market has bottomed out....he went on though to qualify this by saying 'its fragile', so he was admitting it might only be a blip.

 

run down , neglected, properties here in derby and around the sticks regularly go for c£50k.

To be fair, it's got to start somewhere. It's not just going to miracally grow by 2% a quarter is it. That's what everyone was ridiculing Darling for only couple of months ago at the budget. And it's better than negative growth again, if the economy is growing (even at 0.1%) it obviously means that some industry is at least improving. It's nothing to get excited about or anything, but it is (hopefully anyway) a start, and there has to be a small start to begin with...

 

 

RFC, do the sums mate (mind you, Darling hasn't either :lol: ....), less money coming in in taxes than there is money going out in Benefits... This is not a good situation, and by no stretch of the imagination can you consider a slight upturn in one Estate Agents property auctions or a 0.1% increase in growth (which is utterly meaningless to the thousands being put on the dole every day...) to be a sign that the country is recovering....

RFC, do the sums mate (mind you, Darling hasn't either :lol: ....), less money coming in in taxes than there is money going out in Benefits... This is not a good situation, and by no stretch of the imagination can you consider a slight upturn in one Estate Agents property auctions or a 0.1% increase in growth (which is utterly meaningless to the thousands being put on the dole every day...) to be a sign that the country is recovering....

 

At no point did I deny that we aren't still in a bad situation or that this was particularly good, but these figures are better than ones from previous months. Or are you saying you'd prefer it if the economy went down by another half a % then, rather than actually growing?!

 

Of course there are still going to be people affected negatively, it's o.1%, I'm not procaliming it to be some kind of miracle which you seem to think I am. But I don't really see how you can deny that it's not at least slightly positive for a change. There must be some growth somewhere out there for the economy to actually of grown, but as I said, at only 0.1% it's not going to be the whole economy that's benefitting, just certain industries or sectors, that's not exactly bad is it?! Even when an economy grows comfortably at 2-3% a year there's always industries that are on the decline. It'll take a very long while for this mess to be sorted out and there are still a hell of a lot of problems that the country faces, but it's got to start somewhere, and you're never going to get anything more than very slight growth to start with, that would be completely unrealistic.

well graham penny is a hard core christian, so i doubt whether he is telling much of a lie! his auctions are every 3 months, and the latest one saw alot of people, standing room only, at his auction. interest on this basis has increased since march as like he said, theres a perception that the market has bottomed out....he went on though to qualify this by saying 'its fragile', so he was admitting it might only be a blip.

 

run down , neglected, properties here in derby and around the sticks regularly go for c£50k.

Thanks. The information you provide from graham penny seems quite consistent with other data.