At the end of tonight's Panorama, Jeremy Vine previewed next week's programme, which is apparently about "fraud and overvaluation in the property market, which has already seen some prices fall by up to 60%".

Is this the first of many "property post-mortem" programmes?

I seem to remember Mr Financial Planner mentioned something about it after the ITV house program recently. Are you in this as well FP?

Not the first... but certainly one of many more to come.

Yes heard this mentioned. Looking forward to it.

Hopefully. Bet this is the tip of the iceberg.

Someone tell Eric!

I was about to say: Don't tell ERIC!

EriC - PAnoRAMA NExt weeK, Watch it!!!


That OK for you rover...?

Yup.


As long as it has

Moneylenders


...in it.

I predict FP will have his own show within 5 years "Repossession, Repossession, Repossession"

one for youtube methinks

The programme is called 'The Great House Price Conspiracy'...

you're on the telly more than professional media whore, Carol Vorderman!! Are you going to start doing Consolidated Loan Adverts soon?

Looking forward to the program - hopefully it will be a wake-up call for people and start off a MASSIVE PANIC!!!!!

Maybe, but I'll be switching over and watching "Eric Pebble's FRAUD, or no FRAUD???" on the Discovery Channel...

Eric's a HPC hero!

"Conspiracy", eh? Now when has any such programme used such a stark term before?

Any preview of who will be named as the "conspirators"?

Program synopsis on Sky: Monday 4th February 8:30pm

Bursting the House Price Bubble: Developers, valuers and solicitors come under scrutiny in Raphael Rowe's report, which reveals some nasty surprises for those who joined the buy-to-let frenzy.

Looks like I'll be staying in Monday night for a good old laugh then

"This isn't just Bear Food...

This is M&S Bear Food"

It's bear time!

Look guys!!!! "Moneylenders" is what they are!!

And -

GET THE MESSAGE ACROSS


USE ANY MEANS POSSIBLE!

If you think Mortgage Fraud is not important – think again:


Remember –
----------------------------------------------

PERSON A goes to LOCALITY B - which could be a City or Town, neighbourhood, Street or Locality: It could be a village or a hamlet - it could be a few lanes in a country area or pretty well anywhere!.

PERSON A goes to LOCALITY B and spies PROPERTY C which he really wants desperately; It is on the "market" for £399,000 - WAY BEYOND his price range - he has £50k cash savings and and income of only £45k per anum at best.

So, using the age old, tried and tested, rational, logical, sensible rule of thumb - he can only raise a mortgage of [3.5 x 45] max of £157,500. Add his savings of £50,000 - and he has at the most £207,500 with which to buy PROPERTY C if he is going to stand any chance of affordability - feeding, clothing, supporting his family etc., running a car, paying the ever higher utility bills etc. on top of the large mortgage.

He goes to Mortgage Broker MR CHEAT-LIAR - who works for a firm of Moneylenders called "WE-LIE-AND-CHEAT-ALL-THE-TIME Plc"; They are just one of many mortgage companies who could not care LESS about lending prudently: Another similar mortgage firm is "Northern Crock-of-sh1t"... These Mortgage Co:s are only interested in one thing - and one thing only. Artificially driving up the "price" of houses so that they make ever bigger profits and commissions on the mortgages they provide [as well as property dealing on the side with all their property speculator mates...] -

And hey! - they sell the highly toxic "mortgages" that they deal in off to some poor sucker sitting at his computer in some foreign bank round the other side of the world as soon as a day or two after they've made their commissions - like dumping radio-active poison...

PERSON A is persuaded and URGED by MR CHEAT-LIAR, the 'Mortgage Broker' [actually an ex-dodgy car dealer with a conviction for dishonesty] "Not to worry!!" - because "there's a really easy and simple way to obtain the necessary mortgage to buy your dream home mate!! Here, this is the Mortgage Application Form: NOW - just stick your 'income' down on the form as £100,000 pa -- No worries mate! No one cares, no one will notice, it's so easy!!!" etc etc.

THUS - PERSON A does as he is told - buys the Property C for £399k - much to the consternation and delight of his neighbours in LOCALITY B, because only last year they paid £260k for their own identical properties in LOCALITY B!

Anyway - a few weeks later, PERSON X comes along to LOCALITY B -- and he HAS NO CHOICE - Properties in LOCALITY B are now "valued" and "Priced", as always, on a comparative basis with other properties in LOCALITY B -- SO - PERSON X - who is DESPERATE to buy a house for his family - and just GET ON with his life!! -- so he pays the "price" - which, of course, is HUGELY inflated as a result of the SCAM perpetrated by MR CHEAT-LIAR only a few weeks ago!! THUS - The "price" of property in LOCALITY B and the LOCALITIES B1, B2, B3, B4 is much, much higher than 1 or 2 years ago. These increases in prices bear no relation whatsoever to rises in earnings...... earnings have gone up 2% in a year for most people at best!....

-- THESE NEW "PRICES" in LOCALITY B too are MUCH higher than they were only a few months ago!! Let alone 1-2 years ago - when places like PROPERTY C were priced at only £179k!!!

ETC ETC ETC.


i.e. - The WHOLE market is TOTALLY skewed by ALL the Mortgage Brokers Like Mr CHEAT-LIAR and companies like "WE-LIE-AND-CHEAT-ALL-THE-TIME Plc" and "Northern Crock-of-sh1t".

In effect they are Fixing and manipulating the market in property - the commodity which most ORDINARY PEOPLE spend more of their life earnings on than anything else - indeed - spend almost their entire working lives paying for...... But the property "market" is one in in which there are very, very dodgy and dishonest players who are screwing it up utterly for the larger majority of decent honest people...

Does this explain things? It only takes 2 or 3 Rotten Apples in the barrel - in the LOCALITY - and EVERYONE IS AFFECTED -- Because the "PRICE" that is effectively FIXED by MR CHEAT-LIAR and his friends very rapidly becomes the "price" recently paid by the local Lie-to-Buyers!!- AND THUS, SUBSEQUENTLY, BY EVERYONE ELSE WHO COMES TO THE LOCALITY!!! - by the principle of COMPARATIVE PRICING in localities/neighbourhoods/districts....... THIS PROCESS OF HYPING PRICES HAS GONE ON FOR YEARS AND YEARS --- IT IS PURE POISON TO HONEST PUNTERS....

SO IT DOESN'T MATTER IF LIE-TO-BUY IS PERPETRATED BY 10, 20, OR 30% OF PEOPLE -- THEY SET A NEW AND HIGHER "PRICE" IN THE AREAS THEY INFECT WITH THEIR DISHONESTY.... AND THE HONEST BUYER[S] WHO COME[S] AFTER THE LIARS AND CHEATS HAS TO PAY MUCH MORE.

I do think fraud extremely important, Eric. My eyes were a little tired last night, that's all!

60% drops already.

Some people are going to be having a few sleepless nights after this airs...

It might be worth buying a new plasma or flat screen to view and really enjoy it. Sadly I don't get proper Sky, so hopefully someone will "Youtube " it.

YES!! And also -- PLEASE - Someone out there -- Youtube the Panorama Progr as well!!!!!! Very important!!

Unfortunately, I've had to eat mine in order to keep inflation down.

All public sector workers will be forced to do the same - after all Crash Gordon says it is their responsibility to keep inflation down by accepting peanuts pay rises (private sector - you can party on - esp. if you work in 'financial services' - you can have multi-million pound bonuses for screwing the economy). Not too long now until everyone will be forced to eat their own faeces, thereby avoiding the purchase of high-inflation items such as 'food' to enable Crash Gordon to claim that it is remarkable that inflation is running at 2% even though the cost of living has gone up by 20%.

I hope you had a starter of fresh ipod or mp3 player, and finished with desert of best "chinese tat" then!

Strange what gets into the "CPI basket." They are certainly on better drugs than I am.

Eric's great.

The Monkey was better.

Come back Monkey!

morning Eric,

I have pm'd prophet-profit to see if he will record it.

no probs

I also put up the snippet from last nights news:

http://www.youtube.com/watch?v=th6zozVt0Yg

thanks for that.

There will be a decade of these types of progs now, putting hpi into reverse.

I hope you have lots of storage space & bandwidth. edited - just realised they are hosted on youtube.

GOM

Also next week every HPC'ers wet dream comes true as there is a programme called "Repossession, Repossession, Repossession." It is on straight after the 10 o'clock news, so should make good bedtime viewing.

Repossession, Repossession, Repossession Wednesday 6th February on ITV 1 from 10:35pm to 11:35pm
ITV 1
During the past decade, Britain has grown accustomed to living the high life on debt. Now, as home repossessions and bankruptcies soar, business journalist Jeff Randall investigates how and why the nation got hooked on spending money it doesn't have - and concludes that people are about to wake up to the painful realisation that all debts eventually have to be paid.

You couldn't make it up.

Well, actually, we did...

has made my day

I can hardly believe this. Barely a year or so ago we were all laughing & joking on a forum thread because someone suggested this title for a program during a house price crash.

Have i just taken the red pill or the blue one? This is all moving too fast for an old git like me.

Have to say I am enjoying the trailers already .. should have a few BTLs and overstretched bufoons choking on their cocoa.

Should be dodgy developers, valuers (sorry, Chartered Sureveyors), conveyancers (sorry, solicitors), mortgage brokers (sorry, advisers - sic!), estate agents, and lenders who are worried.

I've only skim-read this but here's my prediction - This will just be about a few locally isolated instances, like Simon Morris in Leeds (google it - hilarious). He sold sh1tty terrace house in Leeds that were changing hands for 170k, to 'armchair investors' for about 300k. All based on the projected income from renting out to students, mind he did give them a 15% gifted deposit (he's nice like that).

Basically there is no way that this is going to point to any widespread collusion to ramp the market.

Thanks v much GoM.

BBC1 8.00pm Panorama
Bursting The House Price Bubble
Raphael Rowe investigates allegations that property prices are being kept artificially high.
Producer Matthew Chapman; Editor Sandy Smith
NOTE : as Panorama reacts to news , its subject matter may be topical.


Hmm, just checked with Paddy Power, the odds of this being pulled in favour of other topics...

Bird flu strain CSN & Y found in Norfolk turkey farm 10/1
MP Sadiq Khan alleged bugging 8/1
Tesco squeezing suppliers 7/1
Alleged racist taunting of Lewis Hamilton during Spanish testing 6/1
Portugese police admit being hasty naming McCanns as suspects 4/1
Outbreak of bluetooth near Sony PS3s 3/1
Kylie Minogue possibly hooked up again with Olivier Martinez 2/1
Spice Girls call it quits having stashed enough cash from comeback tour - evens.

Fingers crossed it shows and proves the BBC bashers wrong.

Actually I am worried about that. I overheard someone in Game the other day saying his PS3 has blue tooth.
I am taking mine in to be checked out.

I don't think they will pull it, but we shall see.

I look forward to tonight when I hope Panorama will "Name & Shame"

Don't expect too much; half an hour is not remotely enough time to spell it all out - especially to many out there who haven't got a clue....

I expect this will be a very damp squib of a programme.

Link



Looks like they're going to blow the gaff on the dodgy cashback deals etc. Nothing new for HPC regulars but may be a shock to Joe Public.

See Pinned Threads.

What if I'm reading this thread tomorrow?

Then it was yesterday and you've missed it! Sorry about that. Next time I'll remind you the day before.

I only noticed this thread tomorrow.

I had to come back to today to watch the programme.

This time travel business is pricey, but cheaper than buying a digital recorder.

Doh! Silly me, didn't look up there!