Nationwide Building Society House Price Index March 2019 Nationwide Building Society House Price Index March 2019
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    Default Nationwide Building Society House Price Index March 2019

    Key Points:

    - Annual house price growth remained subdued
    at 0.7% in March

    - Modest 0.2% price rise during the month, after
    taking account of seasonal factors

    - Annual price falls in London and the South East


    Full report here:

    https://www.nationwide.co.uk/-/media...ar_Q1_2019.pdf

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    Quote Originally Posted by Martin@AS Financial View Post
    Key Points:


    - Annual price falls in London and the South East
    First house price fall in England since 2012 - BBC News

    On this measure, house prices in London had fallen by 3.8% - the biggest fall for a decade, the Nationwide said.
    To be precise.
    Three-and-a-half years, two extensions, seven defections, 21 deselections, three prime ministers, countless amendments, two prorogations, one Supreme Court judgement, 66 million Brits losing the will to live and were still at square one...

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    I suspect the rises outside London & SE were thanks to Osborne.

    Help to Buy causes price of new-build homes to go up by more than 50% since 2013 launch | Daily Mail Online

    Government interventions [in markets] have a chronic history.

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    I suspect the majority of house price rises were thanks to the BoE burning printing presses and ultra low interest rates.

    Imagine creating money out of thin air just by pressing a button.
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    Quote Originally Posted by scooterscot View Post
    I suspect the majority of house price rises were thanks to the BoE burning printing presses and ultra low interest rates.

    Imagine creating money out of thin air just by pressing a button.
    Imagine that, you connect a box to electricity and it creates some kind of "Internet Money" and then buy lots of Lamborghinis...
    Three-and-a-half years, two extensions, seven defections, 21 deselections, three prime ministers, countless amendments, two prorogations, one Supreme Court judgement, 66 million Brits losing the will to live and were still at square one...

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    Quote Originally Posted by scooterscot View Post
    Imagine creating money out of thin air just by pressing a button.
    Isn't that what us contractors do daily?
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    Quote Originally Posted by scooterscot View Post
    I suspect the majority of house price rises were thanks to the BoE burning printing presses and ultra low interest rates.

    Imagine creating money out of thin air just by pressing a button.
    ECB ends €2.5tn eurozone QE stimulus programme - BBC News

    Imagine that, the EU the worst offenders and it's speculated it mostly serves the wealthiest.

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    Quote Originally Posted by TheGreenBastard View Post
    ECB ends €2.5tn eurozone QE stimulus programme - BBC News

    Imagine that, the EU the worst offenders and it's speculated it mostly serves the wealthiest.
    For a start, it’s the ECB, not the EU.

    Given the quote from the article below, could you quantify your subjective description of “the worst offender”? What was the total QE arranged by the BoE, compared to population and money in circulation?

    The ECB began its asset purchase programme in 2015, years after the UK and US took similar action to shore up their economies.

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    Quote Originally Posted by meridian View Post
    For a start, it’s the ECB, not the EU.

    Given the quote from the article below, could you quantify your subjective description of “the worst offender”? What was the total QE arranged by the BoE, compared to population and money in circulation?
    That's disingenuous given the ECB is the central bank of the 19 European Union countries which have adopted the euro.

    Quick back-of-the-envelope calculation of QE as % of GDP:

    UK: 0.375 / $2.622tn = 14%

    ECB: 2.81 / $13.0tn = 22%

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    Default Nationwide Building Society House Price Index March 2019

    Quote Originally Posted by TheGreenBastard View Post
    That's disingenuous given the ECB is the central bank of the 19 European Union countries which have adopted the euro.

    Quick back-of-the-envelope calculation of QE as % of GDP:

    UK: 0.375 / $2.622tn = 14%

    ECB: 2.81 / $13.0tn = 22%
    Just because they are European countries, does not make it the EU. It’s not disingenuous, it’s accuracy.

    Speaking of accuracy, you might want to redo your calcs with the correct UK amount of £435bn as per the BoE:

    Page not found | 404 Error | Bank of England

    And then translate both the ECB and BOE QE amounts to USD so that the calculations are working from the same basis.

    So

    UK : .570 / 2.6 = 21.9%

    ECB: 2.92 / 13 = 22.4%

    Assuming GDP is the correct measure to compare against.

    Against currency in circulation (given that QE is used when printing new banknotes isn’t an option) then:
    UK: 435 / 70bn = 6.2 times
    ECB: 2.6t / 1.2t = 2.3 times

    So depending on what measure you use to compare QE to, the ECB could be slightly more, or the UK could be.

    Either way, it seems to me to be an exaggeration to say the “the EU” is the “worst offender”, when other comparisons may show differently.
    Last edited by meridian; 1st April 2019 at 11:24.

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