stunlee

Rightmove asking prices make a new record high. Deluded or not, when there are almost no repossessions, it is the sellers who set the price in a deliberately limited supply market.

http://www.forexlive.com/blog/2012/04/12/uk-data-rightmove-apr-house-asking-prices-2-9/

"House asking prices rose 2.9% on the month in April, 0.5% above the previous record of stg242,410 posted back in May 2008,"

Here is the real killer though.

http://www.herald.ie/news/imf-backs-scheme-to-let-homeowners-write-off-their-debt-3077647.html

"THE IMF's proposal for Great Depression-style debt relief for struggling homeowners has received support."

What an idiot I was for only spending what I could afford.

I'd say he has been consistently wrong on house prices since 2002/3 when hpc started up. Interesting to think a web site called housepriceCRASH must be about to celebrate its 10th anniversary.

Indeed. Housepricetentofifteenyearsofslowrealtermsfalls.com isn't a particularly catchy website name though.

The only undeniable gold-price statistic that I've noticed is the correlation between downward movements in the price of gold on the one hand, and the grumpiness of this thread on the other.

Very true!

Personally I love it when we get one of these big corrections, quite like it when the price goes up and only really get angry when the price doesn't move.

Share the love everyone!

There was a different Jonathan Davis on the 25th Jan 2012 episode of F B and B. Just downloading the podcast now.

Is that Financial Planner/ Killer Bunny from HPC or the Jonathan Davis who was on Bulls and Bears a few weeks ago? There have been some very good interviews on B and B recently.

But what tends to happen instead with those that adhere to manipulation is they use it as an ad hoc after-the-event explanation; silver should blast upwards due to the fundamentals... and when it corrects they then blame manipulation.

Yep, agree with that, and it is very noticable on a lot of the precious metal blogs, any day that the price doesn't increase is listed as being evidence of manipulation. I haven't seen any clear evidence of manipulation in the silver market for a couple of months now, until yesterday that is. And I think there will almost certainly be more shortly before or during the Bernank today.

rather than merely acting as parrots of Sinclair?

The ironing is delicious. Closing here at 1718 before the London open in expectation of another attack today, probably at around 4pm European time.

Entering heaven has got slightly easier today, with the latest Nationwide HPI figures released today, prices 0.9 percent higher than last year and up 0.6 on the month. All ready for the Spring Flounce?

http://www.nationwide.co.uk/hpi/review.htm

I strong recommend you look at the chart yourself, and not rely on Turds or Pipers

Turd is well worth reading and far from a gold perma-bull, he has been warning about a fall in silver for the past couple of days. I have looked at the chart for myself and expect something similar to what happened in early September last year, alternating volatile up and down days on a steady downward trend for the next couple of weeks. I am fully expecting another attack tomorrow at 4pm european time as The Bernank talks again and in any case am nicely hedged with some GBPUSD shorts.

How can anyone look at the gold charts and not see that they are manipulated?

Yes definitely worth a nibble here I think, I have had a long filled at 1700 dollars and am looking for around 1750 or so, a retest of an earlier ascending trendline that held throughout January. It is worth considering that the previous two Super Slamdowns (capitalised to make them seem more exciting), there were numerous "attacks" in a short period of time. In the big September 2011 falls, there were six large price falls in nine trading days, two at 10 am and two others within minutes of the Comex open.

Also interesting to note that the Turd Ferguson metals website is down as well, it seemed to crash just as the metal price crash started.

Wow, what a slapdown this is, nearly two dollars lost in seconds. I love free markets me.

It is easier for a camel to pass through the eye of a needle than it is for someone with a house worth less than a quarter of a million pounds to enter heaven.

Great, I love these massive manipulations, 45 dollars in 4 minutes! Very close to the 50 day MA, but I don't think I will be buying just yet.

BBA mortgage approvals up 2000 in the last month and showing a clear upwards trend as can be seen in this chart.

http://www.forexfactory.com/#chart=40564

Edit: the figure is now actually above what was seen in Feb 2007, at the peak of the boom.

Silver bear market to $16 it could be then.

I think that is extremely unlikely. Sadly the only thing that I can back up to the nearest silver warehouse is a pathetic little remote controlled car with a little carry case superglued to the top. Even if it could take a couple of kilos of silver it would probably more than likely fall over under the weight. Silver would be an absolute screaming buy at 30.70 or 31, the support from September to November last year, and that after the promise of three more years of zero interest rates.

It looks to me like a Spring Bounce is on the cards, but if the new money slows after the stamp duty holiday then we could heading back negative in the second half of 2012.

Yes probably.

Nice. You definitely should shop that slogan around a few agencies

Sell housing like washing up liquid. The Spring Bounce, it does exactly what it says on the tin.

The Spring Bounce is here. Now with added Olympic Power. UK House prices to go up a couple of percent this year is my guess, at least when measured in GBP.

A list here of the world's most overpriced housing markets, the UK is placed near the top at more than 30 percent overvalued.

http://www.businessinsider.com/the-most-overpriced-housing-markets-in-the-developed-world-2012-2#

Interesting to see Japan being listed as severely underpriced, when priced in pounds at today's exchange rate of 123, Tokyo is still nearly as expensive as London. Shows the overvaluation of the yen maybe, or the continued migration from the country to the city.

In a fair world those guys would have been bankrupted and their 750 houses (or however many it is) be distributed out to normal people at cheap prices. Instead they are now essentially lords of the manor.

An article here on increasing credit, the 95% mortgage is back again.

http://news.sky.com/home/uk-news/article/16167615

From the article,

"Low-deposit mortgage deals are back on offer for first-time buyers after the financial crisis left many struggling to get on the property ladder.

But there is concern that a surge in 95% loans could lead to lending spiralling out of control as it did before the crash."

2.74 percent

One thing I don't understand is the insistence that trading is an immensely time consuming activity. It is certainly a very difficult activity, and one that would be made all but impossible if one was paying a 2.74 percent comission but it is certainly not time consuming. I think it would be perfectly possible to trade off the daily charts with just ten minutes analysis a day. One of the recent Frisby's bulls and bears had a story of a trader who spent Saturday mornings doing his analysis and then ignored the market for the rest of the week, that's the kind of trading that I like the sound of.

Anyway, having paid around 5 euros commission I am long at 1714 dollars having watched the price bounce around there the whole day. 1730 looks possible if we get the typical Asian upmove.

Halifax 0.6% up on the month, down 0.9% on the quarter.

 

http://uk.finance.yahoo.com/news/house-prices-remain-weak-despite-094005861.html

Some extremely negative commentary there from Howard Archer, from someone that you would expect to be talking up the market.

and down 1.8% YoY , might as well have the full facts

And that after a year of economic news that could bearly (sp) get any worse. That 1.8 percent fall might just about be covered by the difference in rent and mortgage payments if one was on a really expensive mortgage.

Spring bounce will be along in a few weeks time (god I hate that phrase).

Whoa, the 95% mortgage is back with avengance

That really is very stupid.

From a couple of days ago, but the number of mortgages given out is increasing as well, although still a lot lower than the boom years.

http://www.bbc.co.uk/news/business-16720476

"Lending of £9bn was 12% higher than in December 2010, the British Bankers' Association (BBA) said"

Plus last week we had the news that US interest rates would be held at 0 for at least the next three years, a move that the BoE will surely follow.

Probably not a bad time to do some short-term profit-taking if you have been long since Mid-Dec (like me). My trading account has just hit a new high

Nice one! My account made a three month high today as well. A great day for gold and euro bulls certainly.

It is beginning to look like a never ending quest for interest rate rises, we seem to be permanently between 18 months and three years away from that mythical 0.5 percent on the dollar.

Looking good for PoG. We've definitely broken through the downward sloping resistance line running from the last two peaks in Sept & Oct, and confirmed by the big jump in silver price on Friday.

Yes very bullish indeed now, 1660 looks to be the key level now representing the gap from the 5th August (when the US was downgraded) and was respected numerous times in October and November last year.

Price looks to be still below the downwards line on my charts but could go through it today, depending on what happens at Comex open.

Silver is just looking super bullish this morning, already up nearly a dollar on the day. If we don't see a sudden fall within ten minutes of the Comex opening we could easily reach 35 this week. Silver has also been correlating quite well with the euro recently, what looks to be the recent bottoming of the euro adds more power to the silver bulls.