May 30, 2008

And then the Brits woke up to realize that they had the most obvious and laughable property bubble in the world


My only question is - what took so long?

Gordon Brown, get ready to be blamed for the biggest housing crash in UK history. Even though in the end the Housing-Ponzi-Scheme-obsessed Brits only have themselves to blame.

Anyone in the US want to give our friends in the UK any advice when it comes to housing crashes? Here's mine, it's pretty simple: Last one out's a rotten egg...

Any suggestion that Britain's overblown, over-hyped and over-valued property market is due for a soft landing after the excesses of recent years has just been exploded. We've had the boom: welcome to the bust.

House prices have fallen for seven successive months. Over the past six months, prices have dropped at an annual rate of 11.4% and over the past three months at a 16.1% annualised rate.

The International Monetary Fund has said that 30% of the rise in house prices in the UK cannot be explained by economic fundamentals: a fall in prices of that magnitude is now on the cards. A crash was inevitable.

18 comments:

subject a said...

Holy Crap!!!

We're dumber than the Americans!

YU BEEN TOOLED!!! said...

BUY NOW!

INTEREST RATES ARE AT HISTORIC LOWS!

YOU HAVE MILLIONS OF EMPTY HOMES TO CHOOSE FROM!

BABY BOOMERS WILL NEED TEN HOMES TO RETIRE AND DIE IN!

THEY'RE NOT MAKING ANYMORE LAND!

THINK OF A 125% LOAN AS LEVERAGE!

DRIVE TILL YOU QUALIFY!

REAL ESTATE ONLY GOES UP!

BORROW ALL YOUR EQUITY, OTHERWISE YOUR MONEY ISN'T WORKING FOR YOU!

DOPES!!!

Mammoth said...

The Britishcano economy is tanked, roasted like a hedgehog skewered on a green bamboo spit over a fire.

Why? Because the Britishcano speculator is as irresponsible, greedy, materialistic, immoral, ignorant, pompous, hoity-toity, self-righteous, as Americano.

So is the Britishcano economy toasted or what?

Will Joe-Pint ‘O Stout and Jane Haggis cash out their lorry equity now? (Haaaaa, haaaaa, haaaaa, LORRY EQUITY...)

What will happen to all those big-ass double-decker buses that drive on the wrong side of the road?

Will the Britishcano be toasted as a hedgehog skewered on a stick from head to ass sizzling nicely on a bed of red hot charcoal?

(With apologies to all the HP’ers in England)
-Mammoth

Anonymous said...

stiff upper lip
pip pip cheerio and all that sort of rot
we'll muddle through

Anonymous said...

They also woke up and found out they had a boob leading them

Happy snapper said...

Britain is not unique
The entire EU is one overstretched gigantic bubble.

Its gonna get really ugly all across Europe.

Edgar Alpo said...

Brown = New World Order Wanker.

Veronica Lodge said...

There'll always be an England

...as long as there's a USA.

V.L.

Anonymous said...

Time to return power to the monarchy.

Bush is still king (dunce king) said...

"They also woke up and found out they had a boob leading them"

I doubt even Gordon Brown can compete on the same level of stupidity as G W Bush and Cheney. He is coming in a mere second....

Anonymous said...

And get this, now Britain doesn't have any other third world country to rape, to pillage their natural resources, like they did to India and Africa.

But thanks for keeping Maddona over there.

Anonymous said...

Nothing a good cup of tea can't fix...

Cheers, Haggis

Anonymous said...

Does anyone know any good UK stocks to short to capitalize on this bubble???

Anonymous said...

Hey Bitterrenter, isn't ironic that you live in Beavertown? LOL

Anonymous said...

Keith, 5+, really. You are improving!

B747

DOPES! said...

DOPES! TONY BLAIR IS GOING TO ASK GOD FOR A FAVOR AND PRAY: "GOD, PLEASE MAKE SURE THAT HOME PRICES ALWAYS GO UP!"

SO, ALL YOU DOPES, YOU'LL WISH THAT YOU WERE PART OF OUR FAITH BASED GROUP BECAUSE HOUSE PRICES WILL INDEED KEEP GOING IN THE DIRECTION OF GOD'S HEAVEN.

AND, ADMIT IT: "YOU ALL KNOW THAT's TRUE" SINCE YOU KNOW THAT BLAIR WOULDN'T ASK GOD TO DO UNIMPORTANT WORK!

SO, YOU ALL WATCH AND BLAIR WILL SAVE THE A$$E$ OF FOLKS LIKE SUZANNE AND CASEY AND THE WORLD WILL BECOME THE LAND OF MILK, HONEY AND JAVA JUICE ONCE AGAIN!

Winky said...

Winky says: "UK is hitting the fan now, EU is next, Oz after that, followed by Canuckistan."

Read 'em and weep ....

Anonymous said...

Sweet, Looks like the only way to see the right side of the bubble is to smoke a J....

Weed....The next way to make money....