Yet More Evidence

[Property Dreamer]

http://www.uk2nz.co.uk/chat/phpbb/viewtopic.php?t=7408

Does this not say it all really....

The irony is that we fought tooth and nail to buy it this time last year-we snapped it up in less than a week it had been on the market! We are now in danger of it becomming a millstone as so far we have not had a sniff from a buyer.

We are in a similar position to you

we bought our house a year ago too, we too snapped it up, but now it seems the market is really really slow and loads of houses seem to be taking months to sell.

Yesterday we were offered £25k less than our realistic asking price which we refused as we are unwilling to 'give' our house away just because we are anxious to leave the country.

There's nothing more to add, just read the link and enjoy....

[dogbox]

E/A told me he had an offer of £195000 on an asking of £197500 for a 3 bed ex - local sh1t pit.

He'd originally advised the owner that £190000 was probably the most he could expect.

Anway, the owner declined the offer even though he's moving abroad!

The E/A said this may be the best offer u get for a long time, but the owner is adamant.

[London-loser]

Dogbox,

You ought to put your mates in touch with all these people who can't sell their houses.

I reckon your mates would shift them in hours for top dollar... or at least ******** them for the next six months or so.

[crash 2005]

DOES ANYONE WANT TO LOG IN AND TELL THESE POOR SOULS ABOUT houspricecrash.co.uk

[Property Dreamer]

E/A told me he had an offer of £195000 on an asking of £197500 for a 3 bed ex - local sh1t pit

db - i'd have to say that from your description even £195,000 sounds completely otherworldly to me. I think I must have been abducted and I'm in some kind of alternate reality - maybe an alien game show where the prices are raised and raised until the contestants rumble the plot

[dogbox]

Dogbox,

You ought to put your mates in touch with all these people who can't sell their houses.

I reckon your mates would shift them in hours for top dollar... or at least ******** them for the next six months or so.

The market where I am isnt booming but niether is it crashing in the way so many bears predicted last year.

It is a market with fizz or momentum, but thats probably a godd thing for the next 24 months or so.

If the market drops say 25% from peak selling (not asking) prices Ill conceed the 'crash' has arrived.

On the other hand, my London E/A freind says the market has plenty of fizz.

If your crash doesnt arrive this year, what then? No doubt, the comming crash of 2006.

[ʎqɐqɹǝʞɐɥs]

Apparently the backlog of unsold houses is up 32% from last year.

Heres some other info from money.co.uk:

This will be ‘the year the luck runs out’ for homeowners, consumers and the Chancellor, leading economist Roger Bootle warns, predicting that the Bank of England will have to slash interest rates to stave off a recession.

In his quarterly economic health-check for accountant Deloitte and Touche, Bootle warns that as the housing market downturn accelerates, economic growth will slow to 2 per cent this year, from well over 3 per cent in 2004.

‘There are two big stimuli that are going to give out: the housing market, and government spending,’ he says. Gordon Brown’s cash splurge on schools and hospitals has helped to prop up the economy over recent years, but in last summer’s Spending Review the Treasury announced an easing in the pace of spending growth.

‘Even if you assume that there are no tax rises, the change is going to be devastating,’ says Bootle, who expects the Chancellor to exacerbate the slowdown next year by pushing up taxes.

He also believes unemployment could start to creep upwards as a knock-on effect of the rapid slowdown in the housing market, with layoffs in the construction sector, followed by other firms dependent on a buoyant housing market, such as retailers, hotels and restaurants.

With slowing government spending, falling house prices and rising unemployment, Bootle says the only cause for hope is the Bank of England will have room to cut interest rates rapidly. ‘I wouldn’t say that a recession is likely, but I wouldn’t dismiss it: you’ve got several key dangers, and they’re interactive, so the Bank has a major role here. You’ve got to hope that they could fend it off.’

[dogbox]

db - i'd have to say that from your description even £195,000 sounds completely otherworldly to me. I think I must have been abducted and I'm in some kind of alternate reality - maybe an alien game show where the prices are raised and raised until the contestants rumble the plot

I can assure you I never lie on this forum. Whats the point? The market will do what the market will do - so if I make stuff up I will get found out pretty quickly.

Honestly, I havent a clue where its going. There is a lot of logic in the bear camp but there is also an awful lot of wishful thinking.

A few bears have mentioned the London market seems to be increasingly boyount.

Are they imagining it?

[Killer Bunny]

If your crash doesnt arrive this year, what then? No doubt, the comming crash of 2006.

<{POST_SNAPBACK}>

No crash this year but a fall of 5-10% then closer to 10% next year then timberrrr in 2007- just like last time.

[CrashIsUnderWay]

Dogbolox is right. Only the other day, i had 2 firm offers on several of my flats too, in excellent locations. I accepted them all and bought a yacht, but I'm thinking of selling because fuel oil is getting so expensive.

And I assure you, there is no point in me lying on this forum, because I am not so stupid that I think I can hold back the incoming tide all on my lonesome, and honestly, I'm not an estate agent troll with nothing better to do than pollute once-useful forums with my pointless repetitive crap trolling. Honestly. And last december was the last time anyone anywhere could ever buy anything. Except me.

[dogbox]

No crash this year but a fall of 5-10% then closer to 10% next year then timberrrr in 2007- just like last time.

Most folk are tough enough to weather any storms. They choose to live in a property they really want and which they may decorate / garden / extend as they wish.

Bears are terrified at the thought of a short term loss and engineer thier whole existence around insulating themselves from potential losses, where as most people simply get on with life and embrace what ever comes along.

A lot of mention of the natural bullishness of Women has been discussed here. I think Women are practical creatures who favour brave confident men who dont sit around guzzleing every bad news item, forever afraid to take risks in life.

[The Masked Tulip]

I think Women are practical creatures who favour brave confident men who dont sit around guzzleing every bad news item, forever afraid to take risks in life.

And when the negative equity comes, when the bills start coming in, when the car gets repossessed they file for divorce and walk out. In the last house crash the UK divorce rate soared.

[CrashIsUnderWay]

nosebleed time.

we've actually found a topic dogbrain knows less about than property!!!!

(women)

[ʎqɐqɹǝʞɐɥs]

nosebleed time.

we've actually found a topic dogbrain knows less about than property!!!!

(women)

<{POST_SNAPBACK}>

[Guest The dude]

Most folk are tough enough to weather any storms. They choose to live in a property they really want and which they may decorate / garden / extend as they wish.

Bears are terrified at the thought of a short term loss and engineer thier whole existence around insulating themselves from potential losses, where as most people simply get on with life and embrace what ever comes along.

A lot of mention of the natural bullishness of Women has been discussed here. I think Women are practical creatures who favour brave confident men who dont sit around guzzleing every bad news item, forever afraid to take risks in life.

<{POST_SNAPBACK}>

"Most folk are tough enough to weather any storms"....

DB....the human species is a resiliant thing, true...but what about QUALITY OF LIFE?...I mean, who wants to be clinging on to their fingertips just to hold on to that shoebox?....Is this all we were born for, to get on the property ladder at any cost? Don't think so myself

[London-loser]

The market where I am isnt booming but niether is it crashing in the way so many bears predicted last year.

It is a market with fizz or momentum, but thats probably a godd thing for the next 24 months or so.

If the market drops say 25% from peak selling (not asking) prices Ill conceed the 'crash' has arrived.

On the other hand, my London E/A freind says the market has plenty of fizz.

If your crash doesnt arrive this year, what then? No doubt, the comming crash of 2006.

<{POST_SNAPBACK}>

That will conveniently allow you to proclaim that there has still been no crash if prices are 'only' down 20% (and asking prices say 30% lower).

I think there is a fair amount of wishful thinking in your other post (people will just weather the storm) - presumably those stories about people putting their keys through the estate agents' letterboxes just didn't really happen last time.

Might I dare to suggest that "most people" live in a property they accept rather than "really want" (I suspect few people actually live in the property they really want).

And it is not the bears that are terrified. I'm sure you are aware of the comfort of going with the crowd (those people who simply "embrace whatever comes along" are called sheep, they tend to get nowhere in the long haul that is called life).

Being a bear when everyone around you thought property was the best thing since sliced bread is not a comfortable position. It would have been SO much easier to have lapped up the estate agent's lies and bought my flat a couple of years ago... but, as I've already explained, I would have negative equity now.

And I believe those women you mention will find HPCers considerably more attractive than their NE hubbies when the revolution comes... but I'm sure they will all stand by their brave, confident men.

[dogbox]

"Most folk are tough enough to weather any storms"....

DB....the human species is a resiliant thing, true...but what about QUALITY OF LIFE?...I mean, who wants to be clinging on to their fingertips just to hold on to that shoebox?....Is this all we were born for, to get on the property ladder at any cost? Don't think so myself

Dude, I hold in very very high esteem those that choose to 'opt - out' of the materialist treadmill lifesytle. In fact I actually wish I had the bottle to downsize & go all Hugh Fernley - Whittingstall.

However, I still maintain that many bears dont seem to understand that most folk simply get on with life without worrying too much about future property values.

[dogbox]

I think there is a fair amount of wishful thinking in your other post (people will just weather the storm) - presumably those stories about people putting their keys through the estate agents' letterboxes just didn't really happen last time.

And I believe those women you mention will find HPCers considerably more attractive than their NE hubbies when the revolution comes... but I'm sure they will all stand by their brave, confident men.

Great post.

Look, I knew of people including my own brother that got repossesed last time. All came out the other side and life went on.

They pretended to be first time buyers some years after the repo, and got ordinary rate mortgages and made lots of profit, one I know built up a serious portfolio. My brothers lender did eventually track him down 10 years later and settled on him repaying £2500 out of over £50000 owed.

Bears on here are an exceptionally clever bunch, but you all seem to exhibit a lack of common sense and unreality. Life for most does go on despite the odd financial disaster so the average Jo Blo cannot relate to the bear mentality.

[dogbox]

And when the negative equity comes, when the bills start coming in, when the car gets repossessed they file for divorce and walk out. In the last house crash the UK divorce rate soared.

And?

See it as a chance to bring over a femmine young Thai (Ladyboy if u like).

My secretary says 50%+ of her married freinds have affairs. Money strain simply provides the final catalyist.

Perhaps some of u zitty pastey internet nerds ought pay more attention to your wife instead of choking the chicken whilst you pour over yet another graph.

[London-loser]

Great post.

Look, I knew of people including my own brother that got repossesed last time. All came out the other side and life went on.

They pretended to be first time buyers some years after the repo, and got ordinary rate mortgages and made lots of profit, one I know built up a serious portfolio. My brothers lender did eventually track him down 10 years later and settled on him repaying £2500 out of over £50000 owed.

Bears on here are an exceptionally clever bunch, but you all seem to exhibit a lack of common sense and unreality. Life for most does go on despite the odd financial disaster so the average Jo Blo cannot relate to the bear mentality.

<{POST_SNAPBACK}>

You may be right... but why should I care whether the average Joe can relate to my mentality or not?

You may not believe it but I'm not naturally bearish. I was all ready to go and buy a flat three years ago... but when I started to look into it I realised my rent was (and still is) about 40% less than the repayment mortgage. I thought there must be something odd going on here, looked into it and decided not to buy.

I know my landlord is subsidising my lifestyle, he probably doesn't... and I couldn't give a tozz. If prices continue to fall he'll probably start to cotton on... and he may decide it isn't much fun. If this happens on a grand scale prices will fall and I'll re-evaluate.

I would say quite the opposite that I'm using my common sense (if that's what it is) to benefit from other people's unreality. Your mate Jo Blo will start to change his mind when the reported annual figures turn negative etc... but as ever he'll have missed the boat. And I'll be buying when Jo Blo has zero interest in buying property.

[Marina]

Anway, the owner declined the offer even though he's moving abroad!

The E/A said this may be the best offer u get for a long time, but the owner is adamant.

<{POST_SNAPBACK}>

"The E/A said this may be the best offer u get for a long time, but the owner is a*c*n*"

Maybe people like this can single-handedly stop the rot.

[dogbox]

but when I started to look into it I realised my rent was (and still is) about 40% less than the repayment mortgage. I thought there must be something odd going on here, looked into it and decided not to buy.

I

It seems a heck of a price to pay for saving a few quid (potentially).

I dont want to rent in the hope of making say £50000 on what is little more than a bet.

I prefer my own domain to do as I wish. If it goes down - so what, Ill stay put or move and pay less for the next property.

Anyway I am happy to pay my mortgage because I truly love my home.

As for the subsidising argument I just dont buy this. Ive never come near to subsidising a tenant. Ive always done interest only as I want the money saved by not making the 'capital payment' to invest elsewhere.

Fair play to u for taking your risk.

[Marina]

Most folk are tough enough to weather any storms. They choose to live in a property they really want and which they may decorate / garden / extend as they wish.

Bears are terrified at the thought of a short term loss and engineer thier whole existence around insulating themselves from potential losses, where as most people simply get on with life and embrace what ever comes along.

A lot of mention of the natural bullishness of Women has been discussed here. I think Women are practical creatures who favour brave confident men who dont sit around guzzleing every bad news item, forever afraid to take risks in life.

<{POST_SNAPBACK}>

Again, the dog hits the nail on the head. Women are practical creatures. And when the brave, confident risk-taking man unfortunately takes a bad risk and ends up unemployed, redundant, business gone tits up or whatever, she, if she is attractive, simply shifts him on the scrapheap and finds herself a new brave, confident risk-taker. Wonderfully practical gender.

Its also true most folk can weather storms etc. But, I wonder why Rightmove just reported another 140000 homes went on the market between Feb 14th and March 14th representing 6% of the homes currently on the market. If these numbers are true, over 2.5 million properties are currently on the market. Thats twice as many as are normally sold in a year. Why is the world and his dog (if you'll pardon the expression dogbox) suddenly putting their home on the market?

I have never seen so many For Sale signs in my life. Some of the streets round here have them outside every 4th house.

[dogbox]

Again, the dog hits the nail on the head. Women are practical creatures. And when the brave, confident risk-taking man unfortunately takes a bad risk and ends up unemployed, redundant, business gone tits up or whatever, she, if she is attractive, simply shifts him on the scrapheap and finds herself a new brave, confident risk-taker. Wonderfully practical gender.

You cant 'un - evolve' nature overnight.

Early women were programmed to be attracted to dominant / sucessful males that put meat in the cave and logs on the fire. Such a stratergy improved the females life chances.

Its the same with Lions, Caribou and Chimps.

If it turns out that the STR Bears got it right they might well find themselves getting more ars3 & t1t than they ever thought possible.

[zzg113]

DoggyBollockSniffer is truly a comedic genius; some of his gems on this thread have had me in gales of laughter.

If your crash doesnt arrive this year, what then?

DB, a crash is something that takes years (6 years from peak to trough in the case of the last one 1989-1995) to run its course. It is not a 1-year phenomenon.

Bears are terrified at the thought of a short term loss

Actually, what we are terrified about is the thought of paying vastly over the odds for some crappy bedsit over a kebab shop and becoming a mortgage and wage slave lining the pockets of the banks and at the total mercy of our employers for the rest of our lives while the vendor of the flat retires fat and happy to his yacht in the Bahamas; meanwhile we live a life of Dickensian misery and poverty as midnight revellers throw up on our doorstep for decade after decade.

u zitty pastey internet nerds ought pay more attention to your wife instead of choking the chicken whilst you pour over yet another graph.

Genius.