The Welcome Thread For New Members
Posted 07 January 2006 - 07:42 PM
If you are reading this, you are in the right place. You have come to the forum where real people are discussing the state of the UK housing market, free from spin. We hope that you will find a lively discussion here and that you will soon join in yourself.
Please feel free to make your first post in this thread, perhaps a brief introduction of yourself, how you have found this site and why you have joined. Some people also say whether they are a homeowner, first time buyer, looking to buy, sell-to-renter or anything else, but that entirely up to you.
Before you make that first post here, just a few frequently asked questions:
I tried to start a new topic, but it does not appear. What's wrong?
New Members are free to post in any of the existing topics without restrictions. However, new topics started by New Members in the "Main Discussion on House Prices" board are first placed in a queue to be approved by one of the moderators. This will normally take between a few minutes and an hour, but it may take longer at certain times of the day, for example if you post at 3am in the morning. Please do not start the same topic multiple times. Just wait for your started topic to be approved. It will then automatically appear on the forum.
How can I start a new topic without having to go through the moderator approval?
New Members can be upgraded to the "Members" group. Once in the "Members" group, any new topics started by you will appear immediately, without having to go through the moderator approval process. We will normally upgrade New Members to full Members after they have made a resonable number of posts that constructively contribute to the debate. If you think you have done that, you can post your request in the Upgrade Request board (click here to go there now)
People posting here are using all these acronyms. What do they mean?
Here is a (non-complete) list of common acronyms:
VI = Vested Interests (this means lenders, agents, housebuilders, the government, and anyone else who might have an interest in ever rising house prices)
BTL = buy-to-let
FTB = first-time-buyer
STR = sell-to-rent
MEW = mortgage equity withdrawal
Who are the moderators?
The list of moderators can be found here.
Posted 07 January 2006 - 07:56 PM
When you first register on the forum you will automatically be in the 'New Members' user group. This usergroup means any new topics you start in the "Main Discussion on House Prices" will be previewed by the moderators, and the PM system is disabled.
After you have made a number of worthwhile post on the forum then you can request an account upgrade in the upgrade request subforum and the moderators will review your request.
I tried to post a new topic, but it does not appear. What's wrong?
New Members are free to post in any of the existing topics without restrictions. However, new topics started by New Members in the "Main Discussion on House Prices" board are first placed in a queue to be approved by one of the moderators. This may take several hours depending on the workload and availability of the moderators. Please do not start the same topic multiple times. Just wait for your started topic to be approved. It will then automatically appear on the forum.
I am in the 'New Members' user group and cannot use the PM system
The PM system is not available to members that are in the New Members user group. You will need to request an upgrade before you will be able to send PM's on the forum. You can request an account upgrade in the upgrade request subforum and the moderators will review your request.
Posted 07 January 2006 - 11:04 PM
Ive made a couple of posts already but i've been watching the site for a while. I lived in London for 15 years or so and recently moved back to my home town in the West Midlands - hoping to get a decent property with a smallish mortgage but waiting for prices to go down by a big chunk first - have started to see cracks in the dam over the last 6 months (in my home town and surrounding area). Renting at the moment.
I'm a marketing consultant now (dont let that put you off !!) but used to work for one of the high street banks doing various roles including a stint as lending marketing manager. Whilst freelancing ive also worked for a broadsheet newspaper (causing me to grudgingly change my attitude to the "meeja") and also for central government (causing me to despair at how our tax pounds are pi**ed away) so i've got a curious mixture of experience.
I'm hoping to add to the debate where i can
Posted 07 January 2006 - 11:57 PM
but used to work for one of the high street banks doing various roles including a stint as lending marketing manager. Whilst freelancing ive also worked for a broadsheet newspaper (causing me to grudgingly change my attitude to the "meeja") and also for central government (causing me to despair at how our tax pounds are pi**ed away) so i've got a curious mixture of experience.
I'm hoping to add to the debate where i can
I reckon with that background you are going to make a very welcome and informed contribution to many of these threads.......looking forward to reading some of your posts.
Posted 10 January 2006 - 05:58 PM
I saw this article on the bbc site. It went as it came, almost unnoticed.
Private equity operations are a bit like buying houses, says the article.
Here are some quotes for some interesting parallels:
"The last time the debt-to-equity ratio was so high was in the late 1980s, when many private equity investments were hit by the eventual economic downturn and rising interest rates."
"Such stories might suggest that the golden days of private equity will soon be over, but the facts don't yet support this view.
Interest rates are low, stock markets are rising and the total number of private equity receiverships fell in 2005.
But according to Mr Cullinan, a readjustment is inevitable.
You can't have a period of rapid growth without a slowdown at the end of it, and history repeats itself, he argues.
"The history of private equity is one of exponential growth, followed by a crash, then growth again."
Posted 10 January 2006 - 09:31 PM
have lurked for a couple of months and finally decided to take the plunge. Am currently renting in Redhill as didn't want to pay the daft rental prices in neighbouring Reigate. Sold July 2004 and waiting to see what's happening. Completely fed up with all the spin and I work for a large company with a very large mortgage advisory network - so I see some spin! Noted today for the first time in our local property paper a couple of houses up for sale with sitting tenants - not seen before this before - looks like the BTL's are leaving!
Posted 10 January 2006 - 10:33 PM
It was a revelation as until then I was starting to doubt my own sanity thinking house prices would go down!
Have recently been discussing starting a family with my GF so I feel the emotional pressure to buy increasing so reading here helps to bring me back to reality as we really can't afford to buy.
I used to read as a guest but decided to sign up maybe just to add support of numbers to the site.
I'm not sure I can add much to the site but continue reading with interest as feel I'm really learning a lot.
Posted 11 January 2006 - 01:05 PM
Thought I would join in after lurking for some time. Don't have huge amounts to add at present. Let me tell you about myself. I am an Australian who has been living in London about 3.5 years. I really like it here so will probably buy something here at some point. However I would like to live in a few more cities through my life, so to actually buy a place and settle down is not a compulsion as it appears to others, and having seen my gf just buy a place recently, frankly I am not sure I want to make myself that unhappy.
Was just back in Aus (Perth) and yes house prices are stupid there as well.
So what do I think about house prices - well ...
Logically it would appear that they are at a stupid level and it just doesn't make sense to buy a house at the moment. If the current trend of the last 5 (or so) years were to continue it would never make financial sense to buy a house. If life was hard and life was about suffering then maybe it would. But if life is about being happy and enjoying it why on earth buy a house now.
So I shall wait until buying a house suits me and then do it. I don't see the problem with renting anyway.
BTW your country is nearly so bad as some people on this board make it out. I love living in London, and getting to travel around Europe so easily is just a wonderful thing. IMHO, growing up with it, the sun is overrated.
Look forward to contributing.
Posted 15 January 2006 - 04:49 PM
I'm in my early thirties and I live in Chester. I've been renting for a few years, initially because I wasn't sure whether I'd be moving back overseas after working abroad earlier in my career. Of course, in the last couple of years my delay in buying has been because I've believed that a correction was always round the corner.... I'm starting to despair! Are we really witnessing the first ever soft deflation of a bubble?
As far as sitting it out goes, it is reassuring to read the postings based on seemingly logical economics. I'm not an economist, although I do have a numerate background so I have usually followed the money-based arguments. I also take reassurance from the consistency of respected commentators e.g. The Economist, who I think are still sticking to their view that the market is overvalued.
As I'm finally at the stage where I could afford to buy, albeit at a push, and I'm certainly sick of renting, my problem now is the terrifying consequences of Sod's Law if I give in and go ahead and buy somewhere! On the other hand, I have just spent the last two years taking the same reassurances from sites like this one that holding off is the best policy. I guess I want to enter the debate a bit now, to at least feel like I'm doing *something* about it!
I do have a few questions, which I'll post in one of the forums.
Posted 19 January 2006 - 04:42 PM
I've followed this site for a couple of months.
I rent a big flat in a nice area in North London.
I lived on the continent for 10 years where attitudes towards renting were not the same as here.
Have never owned a property.
Posted 20 January 2006 - 02:44 PM
I bought a 3 bed house in suburbia in 1999, just in time. In October of last year I decided to rent it out and buy a 1 bed flat in a more central location as the house is out in the sticks and I really had no need for the excess room. So at the end of October I packed my bags and moved back into my parentís house and handed my house over to the new tenants. The original plan was to spend a few months at my folks whilst I looked for a new place, so I guess my intentions were rent to buy?!
After a few weeks of looking at the ridiculously overpriced flats and houses within my price range I came across the hpc website. And Iím glad that I did, as I feel I could have made a very costly mistake otherwise. Itís given me a chance to see things from the opposite side of the coin, away from the constant exposure to the relentless spin pedaled by the estate agents, banks and most of the ill informed opinions of the media I guess only time will tell if prices will come back down to realistic levels, so for the time being thanks to you feckers, it looks as if Iím stuck in the parents spare bedroom. Itís a bit of a ball-ache, but it will give me an opportunity to save a healthy deposit if I decide to go ahead with another purchase when the market is more favourable.
Posted 25 January 2006 - 03:11 PM
Posted 29 January 2006 - 11:13 AM
Edited by Bingley Bloke, 29 January 2006 - 11:13 AM.
Posted 29 January 2006 - 11:19 AM
Hi all! I'm from Bingley, West Yorkshire. I decided to sign up here as I have an interest in the house price situation. I've been in full time employment for over ten years yet I would have to save up for another 40 years to amass a big enough deposit to buy a house where I live! I'd love to know where all the money is coming from to sustain these ridiculous house prices Ė I could do with some of it myself!!!
There's one or two round your way (one regular member lives at Shipley). Live at Doncaster myself, welcome!
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House Prices only go up!
"There's a shortage of housing"
"Really?, how many homeless people did you trip over on your way to work this morning?"
"That's because there isnt a shortage of housing, Dimwit!"
"House prices are all about Supply & Demand- there's a shortage of supply, this is what makes the prices higher"
-Indeed, they are all about supply & demand. Supply & demand of Cheap, Globally-financed credit that is.
Posted 29 January 2006 - 12:03 PM
[b][size=2]Hello and thankyou HPC
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