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heatonfan

Listed below are comments made by heatonfan between Tuesday, 29th July 2008 and Monday, 17th November 2008.

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Everyone Loves Kirsty and Phil 2:40pm on 17 Nov 2008 This is a pathetic write up.

Phil owns a "property search" company and so has a vested interest in keeping people buying houses.

They are complete idiots so far as investment is concerned. Fair plays to people who bought buy to let from 1995 to 2002 but if you bought in after that you could be in trouble and anyone buying now needs a new head.

First time buyers shouldn't dream of buying a home for at least 2 more years. You can get great rentals right now.
Who pays? 11:15am on 02 Sep 2008 Gary Elsby wrote "The Tories are stone dead in the water when faced with such dedicated policy to help both the needy and the marketplace."

What a laugh. This is throwing away (badly needed) public money at a scheme which will not work. And there is nothing "socialist" about trying to keep pumped an overinflated housing market.

Buy anyone who hopes it will "preserve" house prices will be in for a shock - buyers will be demanding drops in prices for properties listed between £175,000 to £200,000 to bring them within the marginal rate.

And for the majority of buyers, a saving of £1,500 in stamp duty is nothing compared to the much larger savings they will make simply by holding off until vendors finally face the music and drop their prices.
The right move for Robinho? 09:35am on 02 Sep 2008 He wants to be the world's best player?

He is going to be another Geovanni.

I remember Tim Vickery expressing concern about Robinho's fitness for Europe before he left Brazil.

It will happen in three stages:

Firstly, he will find himself a little lightweight for the league and he will lose some confidence.

Secondly, he will find his teammates are not as good as he is used too and he will become frustrated.

Thirdly, he will have trouble settling into Manchester, and will then want out.

He will be gone to italy or back to spain by this this time next year folks, with City taking a £10million hit.

And the Abu Dhabi boys will be gone in a few years after that when they get bored of their new "hobby".
Stamp phobia 8:42pm on 07 Aug 2008 "Shivering jim jam" - your economics are toytown, not those you criticise.

Why are mortgage rates high and changing irrespective of bank base rate? Because house prices are too high, people borrowed too much and there were huge defaults on the products which raised the finance for lenders to lend.

When house prices come down (by 33% or so) to more sustainable levels, then lending is less of a risk and first time borrowers will be able to borrow a sensible amount with a sensible deposit. Everyone will be better off save for those who bought in the last 4 years who suddenly need to sell.

The problem is that the market rose so sharply both here and the US that the correction the other side of the peak will be sharp as well. And just as it is falling, we enter into a period of lower living standards as commodity inflation bites, taxes are higher than ever and unemployment rises.

House prices will not be stabilising for a few years yet - if you need to sell, reduce your price now and get before they fall further.
The best transfer of the summer 4:36pm on 05 Aug 2008 I suppose Paul Fletcher's inital blog was a good conversation starter if nothing else...

Comments below are excellent. Being non-partisan about it, I reckon the pick of the recommendations above are:

- Kieran Westwood: great keeper now at Coventry.

- Ashley Williams: superb young developing centrehalf at Swansea. Stockport player of the year and captain.

- Sergo Torres at Peterborough. Very skilful and will flourish in a better team than Wycombe.

- Peter Thompson at Stockport signed from NI club Linfield is going to score goals for fun in Div 1 given the creative players in the rest of the Stockport side

- Not sure if this guy has been mentioned yet, but David Perkins who moved from Rochdale to Colchester at the end of the seaon is a superb midfielder. I think is albino so league 1 fans will know who I'm talking about when you play the Us.

Oh, and I suspect everyone QPR has bought (and paid big wages to) is probably pretty good as well...
Treasury's mortgage rescue plan 10:51am on 29 Jul 2008 This proposal is an utter disgrace.

1. The government has no right or role to use taxpayers funds to prop up any more banking losses. It leads to the undesirable result of "privatising the profits, but nationalising the losses".

2. As the 2nd poster Crispblog rightly pointed out, the only reason that mortgage backed securities are now undesirable is that banks rationally see them as posing excessive risk when the underlying assets (ie. house prices) are overvalued. When prices get back to sustainable levels (x3 to x4 income) with at least a 10% to 15% deposit required, then those securities will become attractive again.

3. The best way to "fix" the mess, is to allow the pain to happen as quickly as possible, let the banks sustain their losses and then force responsible lending thereafter. The only problem is that the 'pain' will not look good politically - the country has to sustain an illusion that things will be 'alright' and no-one must suffer from economic recklessness. Thus it will all get drawn out and our economy will be troubled for the long-term.

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