Bubble Pricker

The Welcome Thread For New Members

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Hi, just introducing myself.  I am 48 and caught in the endless dilemma of "should I, shouldn't I?" right now.  It's not that I can't buy anything at all,  it's that fundamental belief that what we are seeing right now simply cannot continue.  Only it is and has been and quite probably will do.  Since lurking on this forum I have learned more about the horrific, corrupt economy that we live in that I could ever have wanted to and now I just feel so sad and hopeless for everyone, not just sorry for myself.  Because this sort of stuff matters to me now, I have educated myself, but it makes me sad.  I am potentially about to gamble everything I have worked for in the past for my deposit and my financial future right up to my retirement on the mortgage I will also need.  All to buy a tiny, tiny house in the totally wrecked home counties.  Or my other choice is to move to somewhere where I know absolutely nobody, just because I will be able to afford a roof over my head.  It's totally criminal.   When I tell my ivory-towered home-owning friends what it is like out here in the cold they just don't get it.  Most of them don't even know the name Mark Carney or understand the true evil that is Quantative Easing.  I really wish I didn't know about it either, to be honest.

I'm desperate for Section 24 to bring about an end to the misery, but I'm so demoralised right now that I actually think that it won't.

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On 3/11/2017 at 4:55 PM, stop_the_craziness said:

Hi, just introducing myself.  I am 48 and caught in the endless dilemma of "should I, shouldn't I?" right now.  It's not that I can't buy anything at all,  it's that fundamental belief that what we are seeing right now simply cannot continue.  Only it is and has been and quite probably will do.  Since lurking on this forum I have learned more about the horrific, corrupt economy that we live in that I could ever have wanted to and now I just feel so sad and hopeless for everyone, not just sorry for myself.  Because this sort of stuff matters to me now, I have educated myself, but it makes me sad.  I am potentially about to gamble everything I have worked for in the past for my deposit and my financial future right up to my retirement on the mortgage I will also need.  All to buy a tiny, tiny house in the totally wrecked home counties.  Or my other choice is to move to somewhere where I know absolutely nobody, just because I will be able to afford a roof over my head.  It's totally criminal.   When I tell my ivory-towered home-owning friends what it is like out here in the cold they just don't get it.  Most of them don't even know the name Mark Carney or understand the true evil that is Quantative Easing.  I really wish I didn't know about it either, to be honest.

I'm desperate for Section 24 to bring about an end to the misery, but I'm so demoralised right now that I actually think that it won't.

Half of any battle is knowing what is happening.

If people knew what was happening they wouldn't stand for it.

Well done. Spread the word.

This place has taught me alot. Thank god for the different posts, different views and the Internet for allowing us a place to discuss Economics/Politics/Money/Asset prices.

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Oh I have just seen this I am new have been reading for years and praying for change and am also a bit demoralised although more hopeful than I have been in years

I posted in Anecdotals as I work for a property maintenance company so have an eye on the rental market mainly although we watch sales as the business depends on them!

There are many changes atm and volumes definitely down and BTL landlords selling up fast here I am in brighton in East Sussex

 

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On 11/03/2017 at 4:55 PM, stop_the_craziness said:

Hi, just introducing myself.  I am 48 and caught in the endless dilemma of "should I, shouldn't I?" right now.  It's not that I can't buy anything at all,  it's that fundamental belief that what we are seeing right now simply cannot continue.  Only it is and has been and quite probably will do.  Since lurking on this forum I have learned more about the horrific, corrupt economy that we live in that I could ever have wanted to and now I just feel so sad and hopeless for everyone, not just sorry for myself.  Because this sort of stuff matters to me now, I have educated myself, but it makes me sad.  I am potentially about to gamble everything I have worked for in the past for my deposit and my financial future right up to my retirement on the mortgage I will also need.  All to buy a tiny, tiny house in the totally wrecked home counties.  Or my other choice is to move to somewhere where I know absolutely nobody, just because I will be able to afford a roof over my head.  It's totally criminal.   When I tell my ivory-towered home-owning friends what it is like out here in the cold they just don't get it.  Most of them don't even know the name Mark Carney or understand the true evil that is Quantative Easing.  I really wish I didn't know about it either, to be honest.

I'm desperate for Section 24 to bring about an end to the misery, but I'm so demoralised right now that I actually think that it won't.

I'm not a new member but wanted to let you know I feel the same. Also in the SE and fed up with the lack of empathy from those a few years older who are fine and therefore don't care. They can't see that this will be a massive problem for their children if nothing changes. The move up North solution doesn't work when you consider that teachers and nurses are needed in the SE too - where are they meant to live? The greed, incompetence, and recklessness of the banks and government make me incredibly angry and sad and with FPTP few ways of demonstrating this. Only hope is Brexit and S24 may shake things up and a growing angry young population. Keeping an eye on what we could afford in our area and it really brings home how devalued our labour is against the HPI; a lifetime of 2 people working highly skilled jobs is nothing vs prices jumping from 200k to 450k in less than a decade. 

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On 04/04/2017 at 10:44 AM, lovepigeon said:

 The move up North solution doesn't work when you consider that teachers and nurses are needed in the SE too - where are they meant to live? . 

Absolutely. Also if you have family, friends and built community relations why should you be forced to go elsewhere just to buy a home.

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On 3/13/2017 at 4:32 PM, Tapori said:

Half of any battle is knowing what is happening.

If people knew what was happening they wouldn't stand for it.

Well done. Spread the word.

This place has taught me alot. Thank god for the different posts, different views and the Internet for allowing us a place to discuss Economics/Politics/Money/Asset prices.

Huh?  There are millions of massive winners in all this who don't care for those carrying the weight of housing financialisation and so on.

All-about-me.

More like they wouldn't stand for any threat to their HPI.  

Helped an elderly couple out a few years ago (bit of DIY) and they told me what they bought it for and what it was worth.   When I mentioned I was holding off to buy until prices fell back.... "I can't see that happening."   Bought with a mortgage of £5Kish in the 50s to what-it-is-worth £420K+ today.

On 4/4/2017 at 10:44 AM, lovepigeon said:

I'm not a new member but wanted to let you know I feel the same. Also in the SE and fed up with the lack of empathy from those a few years older who are fine and therefore don't care. They can't see that this will be a massive problem for their children if nothing changes. The move up North solution doesn't work when you consider that teachers and nurses are needed in the SE too - where are they meant to live? The greed, incompetence, and recklessness of the banks and government make me incredibly angry and sad and with FPTP few ways of demonstrating this. Only hope is Brexit and S24 may shake things up and a growing angry young population. Keeping an eye on what we could afford in our area and it really brings home how devalued our labour is against the HPI; a lifetime of 2 people working highly skilled jobs is nothing vs prices jumping from 200k to 450k in less than a decade. 

 

Individuals all see the world in their own way.   It's difficult for some to see it as others see it, when there are powerful vested-interest involved.

 Reasoning/explanations doesn't change minds when there is big winning VI involved.  Only the brunt of market change can eventually force it.

Quote

 

An existing paradigm is seldom dispelled by evidence alone. As Keith Thomas has written, "Such systems of belief possess a resilience which makes them virtually immune to external argument."

A people whose culture grossly misinterprets certain facts will not necessarily reason their way to a more encompassing worldview until forced to do so by the brunt of economic necessity or military defeat. Reason does not alter values.

 

BTLelegraph the other day was going into a tizzy about an older homeowning woman (housewife all her life) who faced paying tax for the first time.  

Set to have tax-liability of £1,000 per year from her dividends in shares.   Had inheritances along the way in her life.   Only experience with tax-system being tax-rebates.  'I will now have to remember to set aside some money for this.'   Her plight.  BTLelegraph working out ways to minimise her £1K tax liability going foward.  

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Two people have mentioned "greed" but I doubt if Mrs Scott is aware that it looks like that to most of the rest of us. She has been living in a different world and has taken her state of wealth for granted. Evidently she is completely unaware of what the rest of society has to cope with. There are greedy people but they know what they're doing and they can't stop doing it.

Instead of helping her to reduce her obligation, The Telegraph should be pointing out what a fortunate position she is in.   Do the Money staff have no sense of right and wrong and want the Government to raise its revenue only from those whom Mrs May calls "just about managing"?

Meanwhile, Mrs Scott will continue to get her public services essentially free of charge, even if she needs an expensive operation. At the same age, I feel guilty about my occasional use of the health service, although I've been paying income tax for almost 60 years.

 

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Poor Mrs Scott. However will she manage with a portfolio of £750,000

She now says she will need to be careful with her spending.

Sorry Mrs Scott when you go the tax man will have his share.

For God sake do something useful with it. Help people in real need.

Greed that is what this is about .

 

 

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Thanks to those who have replied to me on here with support, it's a funny old time isn't it?

The more I read this forum the more I feel I don't know anything about anything any more.  Even if (IF) prices start to come down, I still won't be sure what's "good value" any more and the more I read about how seemingly good mortgages are actually back-loaded money-traps, the more I feel that me and my money could so easily be taken for a ride because a house may become "affordable" to me in the future, but may still be a "bad deal" at the same time.

I literally don't know where proper, sensible advice comes from these days - the whole world seems to be smoke and mirrors and I really hate that feeling.

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19 hours ago, stop_the_craziness said:

Thanks to those who have replied to me on here with support, it's a funny old time isn't it?

The more I read this forum the more I feel I don't know anything about anything any more.  Even if (IF) prices start to come down, I still won't be sure what's "good value" any more and the more I read about how seemingly good mortgages are actually back-loaded money-traps, the more I feel that me and my money could so easily be taken for a ride because a house may become "affordable" to me in the future, but may still be a "bad deal" at the same time.

I literally don't know where proper, sensible advice comes from these days - the whole world seems to be smoke and mirrors and I really hate that feeling.

Enjoy it while you can as one day the Internet will cease to offer alternative information.

Sponsored by OmniCorp.

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On 22/04/2017 at 11:01 AM, stop_the_craziness said:

Thanks to those who have replied to me on here with support, it's a funny old time isn't it?

The more I read this forum the more I feel I don't know anything about anything any more.  Even if (IF) prices start to come down, I still won't be sure what's "good value" any more and the more I read about how seemingly good mortgages are actually back-loaded money-traps, the more I feel that me and my money could so easily be taken for a ride because a house may become "affordable" to me in the future, but may still be a "bad deal" at the same time.

I literally don't know where proper, sensible advice comes from these days - the whole world seems to be smoke and mirrors and I really hate that feeling.

You need to figure out what is "good value" to you, that's what I'm basing decisions on. At the moment I want a 15% drop in an Outer London Borough and then I will start booking viewings in earnest rather than half heartedly scrolling through a pile of shite on RM. At that level I'd be happy with what we are borrowing and what our repayments would be, and every month in the meantime the deposit (or negative equity barrier should the market keep falling) is added to.

If the fall doesn't happen then... well, let's stay positive shall we?!

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And I should add 15% is bugger all when the standard round here is to stick 100k on top since 2015 (200k becomes 300k) but if we wait too long we're missing out on a normal life for those in their early 30's - I. E. Having our own home 

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I have never seen a class so deeply demoralised, so incurably debased by selfishness, so corroded within, so incapable of progress, as the English BTLer. For it nothing exists in this world, except for the sake of money, itself not excluded. It knows no bliss save that of rapid gain, no pain save that of losing gold. In the presence of this avarice and lust of gain, it is not possible for a single human sentiment or opinion to remain untainted.

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59 minutes ago, Kosmin said:

I have never seen a class so deeply demoralised, so incurably debased by selfishness, so corroded within, so incapable of progress, as the English BTLer. For it nothing exists in this world, except for the sake of money, itself not excluded. It knows no bliss save that of rapid gain, no pain save that of losing gold. In the presence of this avarice and lust of gain, it is not possible for a single human sentiment or opinion to remain untainted.

You're trying too hard for a first post :D

 

My name is Kosmin and I don't like my landlord would have sufficed. 

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On 2017-5-2 at 0:22 PM, Kosmin said:

I have never seen a class so deeply demoralised, so incurably debased by selfishness, so corroded within, so incapable of progress, as the English BTLer. For it nothing exists in this world, except for the sake of money, itself not excluded. It knows no bliss save that of rapid gain, no pain save that of losing gold. In the presence of this avarice and lust of gain, it is not possible for a single human sentiment or opinion to remain untainted.

Welcome to the party.

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Hi, Very long time lurker about 10 years on and off

I do agree with a lot of the views on here, not all of them, i do think London house prices need to be well 50% cheaper but that is not going to happen.

Looking to buy in North London if that is ever going to happen, have a large deposit but house prices have risen so much...

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