Quote:
Originally Posted by GreyWolf
Sure.. inter-bank lending has left a fair number of non-US financial institutions with debt problems - along with any foreign banks operating within the US. These banks include HSBC and Barclays - if they have not already made a statement of losses, chances are they will shortly. Tho think HSBC has indicated a figure of one $1billion? (They got off light and can stand that loss). It's inevitable a number of banks then purchased the worthless CDO's which were never properly rated - so, yet another hit (or is it a fraud?  ) |
I don't understand why any foreign investors would want to invest in America after this huge con. You can't fuck the very people you rely on for investment and expect foreign investment to continue.
I think the US could collapse within 5 years, maybe sooner! Things are unravelling at an alarming rate at the moment!
Quote:
Originally Posted by GreyWolf
Only my  - 2008 is going to be a foul year for any western economy and will vary depending on how much of a grip they have on fiscal policy. |
Totally agree, I'm already starting to trade my sterling for euros, canadian dollars and gold (Don't know enought about asian currencies at the moment but have heard they are a good bet long term)
The pound is going to tank in 2008, once the housing market crashes the £ is going down with it!
Quote:
Originally Posted by GreyWolf
PS Hold off on that purchase till the market bottoms out  |
Seriously, you could not pay me money to buy a place at the moment
The Northern Ireland market is going to crash hard and fast, some sites online are reporting 10 - 15% falls in house prices already (Not officially obviously
)
Prices need to fall by 40 - 50%
Average NI house price = £250,000
Average NI wage = £20,000
Quote:
Originally Posted by GreyWolf
Got to be about right fuzebox. It's the same with the UK - there is little chance for first-time buyers stepping on to the home ownership ladder. Real estate prices are stupid high (tho expect them to be hit to a degree soon), but the economy is relatively well-balanced.
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Actually it's very likely that the UK will be hit harder because prices are a lot more unaffordable versus average UK wages
The average UK house price is around £200,000
The average UK wage is around £22,000