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dragonpride

Listed below are comments made by dragonpride between Friday, 13th February 2009 and Friday, 7th August 2009.

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Caption Competition 11:52am on 07 Aug 2009 Green shoots of economic recovery takes time out to watch the Buick Open
Caption competition 12:00pm on 05 Jun 2009 The new government 'Kitchen Scrappage Scheme' that provides 2 free kitchen assistants is proving a hit with UK households though officials admit that there have been a few 'technical' problems.
Caption competition 11:38am on 05 Jun 2009 Experts finally trace the source of the mysterious outbreak of athletes foot that had recently plagued new kitchen owners.
Caption Competition 12:29pm on 15 May 2009 Farmers make preparations for this years floods and future rising sea levels.
Caption Competition 10:23am on 24 Apr 2009 easyBafta, the no frills television awards company, prepares for its first show.
Rock revival 1:07pm on 23 Feb 2009 With Browns' previous comment on getting back to old fashioned responsible banking this would seem to be the first part of his new action plan to be seen as doing the right thing to support this.

However, the average wage (realistically) in the UK is around 25K. Apply the good 'old fashioned responsible' earnings multiples (as others have done above) and it is easy to see that most of the housing stock is still unrealistically overpriced if the housing market is to get moving again.

Either wages are going to dramatically increase (not realistic in the current economic climate) or house prices still have a long way to fall.

A 25% reduction in asking prices is slowly starting to be the norm for most properties to sell at the minute, so factor in the 10% deposit required by Northern Rock (risk aversion) and you can see the Government Think Tank of predicted future drops totalling about 35% from peak leaving the average at about 125K. (with 'responsible' multiples this fits nicely)

Northern Rock are positioning themselves ready for this for those with a decent deposit initially and I imagine part 2 of the 'plan' will be to announce shortly some sort of savings plan to tease potential buyers by promoting saving.
Caption Competition 12:20pm on 13 Feb 2009 "Keep building...by doing this I'm sure we'll appear on a couple of websites doing caption competitions this week"
Caption Competition 11:16am on 13 Feb 2009 "Look, I know your a big fan of Raymond Briggs and I'm sure I overheard you asking the keepers to play some Aled Jones 'Walking in the Air' over the tannoy system later... but don't you think your taking this all a bit too far?
Caption Competition 10:35am on 13 Feb 2009 "What do you mean nice snowman...its work in progress and hopefully this cold weather will continue so I can give that Hirst and Emin a run for their money in this years Turner Prize"
Caption Competition 10:25am on 13 Feb 2009 "Every year you always have to go and show off don't you? - why can't I just have some flowers and a box of chocolates on Valentines like all the other the tigers"

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dragonpride