The US Dollar is collapsing....
#1
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The US Dollar is collapsing....
Its been predicted for some time now, but crashing house prices in the US and a cloudy longterm economic outlook seems to have finally set off the slide..
Fell sharply Friday, and is continuing its slide today
Ineffect the country is bankrupt, and I dont know what else they can really do to prop up the dollar.
Effects for UK? Well will make our exports more expensive, so EVEN LESS competitive exports for us = job loses..
plus our economy is similar to the US in that we import **** loads and export far far less.....
Fell sharply Friday, and is continuing its slide today
Ineffect the country is bankrupt, and I dont know what else they can really do to prop up the dollar.
Effects for UK? Well will make our exports more expensive, so EVEN LESS competitive exports for us = job loses..
plus our economy is similar to the US in that we import **** loads and export far far less.....
#2
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Yes, it's a p1sser for me, I converted a house deposit from sterling to dollars last summer, if only I'd moved here this year instead!!!
I haven't seen any real evidence of a housing market collapse, although it would predominantly be in the metropolitan areas of NY, LA, San Diego etc rather than rural Texas where it's soooo cheap anyway..... But I believe it is most likely on the way, if it hasn't started........ The peaks and troughs of the world economy, ride it out again........
I haven't seen any real evidence of a housing market collapse, although it would predominantly be in the metropolitan areas of NY, LA, San Diego etc rather than rural Texas where it's soooo cheap anyway..... But I believe it is most likely on the way, if it hasn't started........ The peaks and troughs of the world economy, ride it out again........
#5
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We shall surely follow ............
God I have wet dreams about collapsing house prices - I NEED to fill my property portfolio just a little more
Come on house price crash - I need you ........... can't wait!
God I have wet dreams about collapsing house prices - I NEED to fill my property portfolio just a little more
Come on house price crash - I need you ........... can't wait!
#6
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Originally Posted by 2000TLondon
I haven't seen any real evidence of a housing market collapse, although it would predominantly be in the metropolitan areas of NY, LA, San Diego etc rather than rural Texas where it's soooo cheap anyway..... But I believe it is most likely on the way, if it hasn't started........ The peaks and troughs of the world economy, ride it out again........
Existing home prices post biggest drop on record: NAR - Nov. 28, 2006
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Even better for me going on holiday to somewhere that the local currency is US dollars then.
Not quite sure why though as it's no where near USA lol
Not quite sure why though as it's no where near USA lol
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Originally Posted by pslewis
We shall surely follow ............
God I have wet dreams about collapsing house prices - I NEED to fill my property portfolio just a little more
Come on house price crash - I need you ........... can't wait!
God I have wet dreams about collapsing house prices - I NEED to fill my property portfolio just a little more
Come on house price crash - I need you ........... can't wait!
Banks will suddenly change their lending criteria when house prices start heading south here too, so many people will find they cant afford any more 'house' as the money will be so much harder to borrow!
#9
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Originally Posted by Petem95
Problem is you also need a job to pay the mortgage on them, and while I agree that whats happening state-side will happen here before long, the jobs market will get hit hard as exports fall sharply!
Banks will suddenly change their lending criteria when house prices start heading south here too, so many people will find they cant afford any more 'house' as the money will be so much harder to borrow!
Banks will suddenly change their lending criteria when house prices start heading south here too, so many people will find they cant afford any more 'house' as the money will be so much harder to borrow!
#10
Though its a fact that all economies are in some way connected the US and UK have had different peaks and troughs both in the stock and property markets. Hence the US could have a recession without the UK following suit and vice versa
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Originally Posted by Deep Singh
Though its a fact that all economies are in some way connected the US and UK have had different peaks and troughs both in the stock and property markets. Hence the US could have a recession without the UK following suit and vice versa
If the dollar continues to slide at the rates its going then with US house prices also crashing, theres obsolutely no way we wont follow them into recession because the US are the worlds biggest consumer, hence almost certainly our most important export market.
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From what I can see, the US imports everything from China, if the US goes, it'll be like a house of cards in the current climate. But there is always lots of money to be made in recessions on the markets
#15
Originally Posted by pslewis
We shall surely follow ............
God I have wet dreams about collapsing house prices - I NEED to fill my property portfolio just a little more
Come on house price crash - I need you ........... can't wait!
God I have wet dreams about collapsing house prices - I NEED to fill my property portfolio just a little more
Come on house price crash - I need you ........... can't wait!
Mart
#16
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Originally Posted by mart360
nice to know we can rely on you pete to capitalise on others misfoutunes.
Mart
Mart
Well?????
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Originally Posted by Freak
bring it on
Have a wedge ready to put towards buying my apartment in new york sitting in the bank waiting
Have a wedge ready to put towards buying my apartment in new york sitting in the bank waiting
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Originally Posted by 2000TLondon
Wow, buying in New York is tough! I was up there in the summer, and my friend lives near Columbus Circle, the amount of rent he was paying for a tiny studio made my place in Central London seem very cheap! There were one bedroom apartments in his block going for $4,000,000!
Brooklyn is nicer (IMHO), quieter+cheaper... can get a decent apartment for a $few hundred k
#23
Originally Posted by Petem95
Its been predicted for some time now, but crashing house prices in the US and a cloudy longterm economic outlook seems to have finally set off the slide..
Fell sharply Friday, and is continuing its slide today
Ineffect the country is bankrupt, and I dont know what else they can really do to prop up the dollar.
Effects for UK? Well will make our exports more expensive, so EVEN LESS competitive exports for us = job loses..
plus our economy is similar to the US in that we import **** loads and export far far less.....
Fell sharply Friday, and is continuing its slide today
Ineffect the country is bankrupt, and I dont know what else they can really do to prop up the dollar.
Effects for UK? Well will make our exports more expensive, so EVEN LESS competitive exports for us = job loses..
plus our economy is similar to the US in that we import **** loads and export far far less.....
How comes the US indices have all posted minor gains then?
#25
Originally Posted by Deep Singh
Agree with PSL and 2000T there is lots of money to be made in a recession especially if you have a recession proof job and minimal debt. It will be an adventure...
#26
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Time to buy that US property folks. My old fella bought his home in Florida when it was last 2$ to the pound
Also we buy a lot of stuff for work from China - who use US Dollars, should be good.
Also we buy a lot of stuff for work from China - who use US Dollars, should be good.
#28
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Originally Posted by Deep Singh
How comes the US indices have all posted minor gains then?
#29
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Originally Posted by AudiLover
why are you feeling sorry for the yanks?