Out of recession? are we? I don't think so.

[Rave]

The economy has shrunk by 6% since the start of the recession 18 months ago. Since the economy grew, in the boom years, 2-3% a year, that's a lot.

CPI just jumped to 2.9%, and the Bank Of England's target is 2%; I don't think interest rates can stay at 0.5% for long. Since it's the drop in interest rates that has prevented a house price meltdown, and since so much of our economy has become dependent on stable or rising house prices, the recovery, as is, is built on shifting sands.

And everybody seems to want to forget about the £180bn deficit we're currently running.

Would -0.1% felt better or worse?

Since recession is clearly defined why argue with it - if the economy has grown for a quarter we're out and as someone else said above, we can go back into recession too. Don't panic half-empty crowd - things can get worse again!

I never wanted a recession, but I'd rather have a recession than never be able to afford a house in the country I've lived in since I was born, while people who made bad economic decisions get lucky through (effectively) government bailouts.

[dangel]

I never wanted a recession, but I'd rather have a

..job?

Really, you can't win either way Rave - not that i'm unsympathetic but the whole 'them' and 'me' stuff doesn't really work since we're all tied together in this mess regardless. I'm not exactly pleased bankers are rolling in money right now but it's a necessary evil in a capitalistic society comrade

Still, we're not in Haiti.

[TheAnimus]

I never wanted a recession, but I'd rather have a recession than never be able to afford a house in the country I've lived in since I was born, while people who made bad economic decisions get lucky through (effectively) government bailouts.

Fraid to break it to you but it really dosen't work like that.

House prices are supply and demand. There is little supply, and higher demand.

People where previously able to get large mortgages, these will dry up.

However, when you look at the average earnings in percentile rankings of income tax paid. Odds are it will be the same group that are home owners.

Just instead of costing them £500k for a 3 bed, it will cost them only £300k for a 3 bed. However it will be the same people owning it.

Unless you've made a canny investment shorting the trubulent BBY that is!

[0iD]

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