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Inside The 'house Price Crash' Community


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#46 Redcellar

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Posted 22 September 2011 - 01:03 PM

It's the anger phase.:)


That's a very good point. Seriously.
When people start 'looking down' on others, especially when they could very easily be in that position themselves in the near future, then it probably is an 'anger tantrum' thing as reality starts to hit home.
Allegedly.

#47 kazap

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Posted 22 September 2011 - 01:06 PM

I've lurked around here for ages and whilst I agree this is an element of delighting in other's property misfortune I think overall people just agree that high prices are no good to anyone.

The piece is almost a contradiction in the sense that it ends by saying all anyone wants to do is own their own home - well surely this is true of participants in this forum. Lower prices enable this and ensure that there is more left over to bring up our children and circulate in the wider economy. Lower prices will benefit many, I think (hope) for many forum members this isn't just a selfish crusade(?).

Like some others around here, I am a homeowner. But having now bought with no plans to move I have accepted that the price I paid is what I now owe. Could I have spent less by waiting? I don't know, only time will tell. Things aren't so black and white thanks to low interest rates - I was able to knock years off my mortgage term through overpayments and will be mortgage free in my forties.

So whilst I would like to see prices come down I also think it is possible to make a sensible buy. Just do some home work first!

#48 Redcellar

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Posted 22 September 2011 - 01:12 PM

I've lurked around here for ages and whilst I agree this is an element of delighting in other's property misfortune I think overall people just agree that high prices are no good to anyone.

The piece is almost a contradiction in the sense that it ends by saying all anyone wants to do is own their own home - well surely this is true of participants in this forum. Lower prices enable this and ensure that there is more left over to bring up our children and circulate in the wider economy. Lower prices will benefit many, I think (hope) for many forum members this isn't just a selfish crusade(?).

Like some others around here, I am a homeowner. But having now bought with no plans to move I have accepted that the price I paid is what I now owe. Could I have spent less by waiting? I don't know, only time will tell. Things aren't so black and white thanks to low interest rates - I was able to knock years off my mortgage term through overpayments and will be mortgage free in my forties.

So whilst I would like to see prices come down I also think it is possible to make a sensible buy. Just do some home work first!


Well said. A balanced opinion.
My concern is for the lost generation. Average first time buyer mid 30's now. Unemployment for under 25s 1 in 5. Introduction of 9K per annum student fees.

From a selfish perspective, these are the people that are going to pay my pension when I retire. From a national perspective, these are the people who will develop and improve our country. Yet we've handed them the bill for the party that us older generations enjoyed. Where's the fairness in that, and where's the future of the UK unless we pull our finger out of our collective rear ends and start providing for a younger generation. Which includes affordable housing.
Allegedly.

#49 Riedquat

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Posted 22 September 2011 - 01:45 PM

Afterall a 100k mortgage is alot less to service or pay off per month than a 500k mortagage.
Sure you have low interest rates, but low interest rates on an overpriced asset is no different in terms of cost to high interest on a fairly priced asset, you still pay the same amounts at the end of the day.

The big difference is that in the low interest rate environment you're faced with the prospect of them going up, making things harder for yourself, but in the high interest rate environment the odds are that sooner or later it'll get easier.

#50 winkie

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Posted 22 September 2011 - 01:50 PM

Not so, mate: Tinker, Solitaire, bobthebuilder and myself have all written on this very thread about how we are homeowners who are cheering/willing on the crash.

Amongst other things it is, as you say, about fairness.



I am a home owner and have been for many years....I think there should have been a correction in values 2004 when I could see personal credit levels were getting out of kilter with normality, I could see the 1990 high interest rates repossessions happening all over again but this time far worse.....instead what we got is ever more increased lending, creating a false sense of security then the bottom fell out of interest rates and a few banks/ mortgage lenders went bust and the bill shared out to everyone in society to pay for.......

The feckless now are reaping the rewards at the detriment of the working people that try to pay their way in society via high inflation and house prices that are still too high..... it is our youngsters who will have to pay the price of the reckless.

Who is now better off a home owner in a modest home they paid for or the debt owner that could have been a home owner but now has more debt than they could ever hope to repay...... looking to the outside world that they own a house or two but don't own anything. ;)
What you don't owe won't worry you.

Less can be more.

#51 200p

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Posted 22 September 2011 - 03:11 PM

HPC is a great community which looks a bigger topics, not just house prices. Did they ever mention the Express and their regular property ramping front pages? I don't see any other body of people challenging this powerful media force.

#52 Timak

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Posted 22 September 2011 - 04:19 PM

I'm a home owner too with my mortgage pretty much paid off.

I am against high property prices because I believe them to be harmful to the general wealth,health and happiness of the country.

If I rent a shop selling cakes and my fixed costs are 1 per cake then I can sell them for 2 and can make a decent living.

If my fixed costs are 2 per cake as my rent is so high then either you have to pay 3 for the cake or I no longer have a viable business.

The extra 1 per cake you are paying doesn't go to me it is simply used to destroy 1 of credit that was advanced into the economy by a bank.

A stupid system everyone should be against.
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#53 newbonic

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Posted 22 September 2011 - 04:47 PM

I'm a home owner too with my mortgage pretty much paid off.



I'm almost a homeowner in the sense that I have a small mortgage outstanding (might hang onto the debt just in case there's a re-set!). I still want a HPC though for the sake of my kids.

Also, cheaper house and commercial property prices will help get genuine wealth creating businesses off the ground: Paper values of houses doubling every decade is pure 24 carat fools gold.
"There are only two basic items in the world economy - food and fuel. All the rest are secondary...there is no substitute for energy; the whole edifice of modern life is build upon it." E F Schumacher

#54 newbie

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Posted 22 September 2011 - 04:54 PM

Clever using the image of a nice looking young lady for its front! Posted Image

http://www.dailymail...al-thought.html
;)


http://www.telegraph...e-minister.html

#55 winkie

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Posted 22 September 2011 - 04:58 PM

I'm almost a homeowner in the sense that I have a small mortgage outstanding (might hang onto the debt just in case there's a re-set!). I still want a HPC though for the sake of my kids.

Also, cheaper house and commercial property prices will help get genuine wealth creating businesses off the ground: Paper values of houses doubling every decade is pure 24 carat fools gold.


How right you are....would agree with the keeping a few pounds outstanding, you never know when you may need easy access to it...play them at their own game......I agree that where we went wrong is to encourage free money made from houses, instead of real growth and productivity through viable profitable businesses....now all we have is stagnation in both....who needed the small businesses to grow when we had houses to make us rich with no effort whatsoever. ;)
What you don't owe won't worry you.

Less can be more.

#56 MrPin

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Posted 22 September 2011 - 05:08 PM

HPC is a great community which looks a bigger topics, not just house prices. Did they ever mention the Express and their regular property ramping front pages? I don't see any other body of people challenging this powerful media force.


A few people here seem to understand economics better than the politicians, and the BoE.

I've learned a lot, and it is unwise to try to label such people as us, since we are all different,
Ignorance can be cured! Stupidity cannot!

#57 'Bart'

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Posted 22 September 2011 - 05:10 PM

There's obvious delight in any loss of homeowners' equity.

I know, and it was earned by so much hard work as well. :rolleyes:

#58 right_freds_dead

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Posted 22 September 2011 - 05:18 PM

I know, and it was earned by so much hard work as well. :rolleyes:


they see things backwards.

that equity gain, is the new purchasers loss, and that loss is the only loss that had to be 'earned' with hard work and wages. the other is just a figment of a spivs imagination.

the ignorance you see around today, its almost too hard to take its measure.
i am boethius. author of the consolation of philosophy. it is my belief that fortune is a wheel. inconstancy is my very essence says the wheel. rise up on my spokes if you like, but dont complain when your cast back down into the depths. good times pass away, but then so do the bad. mutability is our tragedy, but its also our hope. the worst of the times, like the best. are always passing away.

#59 nmarks

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Posted 22 September 2011 - 05:25 PM

What the author omitted to mention is that HPC is a group of concerned citizens who saw through the hype of HPI and warned about the inevitable catastrope only to be mocked and ridiculed for their foresight.

For sure we want to see lower property prices, but HPC isn't merely so named out of vested interest on our part. HousePriceCrash is so named because we saw that such an event was an inevitability unless property price increases were restrained. They weren't.

Instead of dealing with the HPI problem before it became too big to tackle the authorities acquiesced, intoxicated by the prospect of a few extra percent profits. (Remember Mervyn King's punch-bowl analogy?)

So now, for the umpteenth time in since late 2007, we stand on the brink of global financial oblivion.

FTSE closed today 4.67% down.

Edited by nmarks, 22 September 2011 - 05:25 PM.

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#60 winkie

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Posted 22 September 2011 - 05:25 PM

they see things backwards.

that equity gain, is the new purchasers loss, and that loss is the only loss that had to be 'earned' with hard work and wages. the other is just a figment of a spivs imagination.

the ignorance you see around today, its almost too hard to take its measure.



High debt keeps people working to pay it........less debt means people can work less unless they are not satisfied and want more, therefore more money in your pocket more children with mothers at home, less stress, more contentment, better standard of living and a better quality of life. ;)
What you don't owe won't worry you.

Less can be more.




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