Wednesday, Jun 13, 2007
What are the most powerful blogs in the UK and guess which is one of them???
The Times: Have your say in a forum that is growing in power and influence
CONSTRUCTION AND PROPERTY
8. House Price Crash
The name says it all. Sample quote: “To have an idea of the timing of the crash in the UK, look at the Irish market example. Very nice charts . . . soon showing in our country!”
Posted by financial planner @ 02:33 PM (155 views) Add Comment
17 Comments
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1. waitingfor hpc said...
hey we are famous??????
not just loathed for the last 10 years for saying this drunken debt party had to end!
2. japanese uncle said...
Vengeance is ours!
3. paul said...
“First they ignore you, then they laugh at you, then they fight you, then you win. THEN YOU TAKE OVER THE WOOOOOOOOOOORLD!”
Or something like that.
4. confused76 said...
“To have an idea of the timing of the crash in the UK, look at the Irish market example. Very nice charts . . . soon showing in our country!”
that is my quote!!!!! I am famous!!!! Well.... of course I want to share glory with all of you!
5. sold 2 rent 1 said...
c76,
I am on holiday in Ireland this week.
Saw the article in the paper this morning and recognised your quote.
I have mentioned HPC to quite a few people here.
The denial is shocking. Even though prices are falling - heads are firmly in the sand.
I didn't realise that Ireland still had tax relief on mortgages.
This explains why personal debt levels are 190% of GDP - the highest in the western world.
A friend of my wifes had a quote to extend their kitchen for 150K EUR. A truly outrageous price. They are MEWing of course; as it is more tax efficient to get yourself more into debt.
6. paul said...
“First they ignore him, then they laugh at him, then they fight him, then he wins. THEN HE TAKES OVER THE WOOOOOOOOOOORLD!”
I hope they got your permission, confused.
oh, maybe they didn't need it.
7. sirgoogle said...
Just how many people are reading this site?
I thought that the stats on the website were fairly static and this is was just a few of us here... writing out our fears and comments as a form of therapy for our mental condition (HPCitis).
8. sirgoogle said...
sold 2 rent 1
Like Ireland, The Netherlands also has tax relief on mortgages. As an Expat - I am not entitled - that is why I know (and still rent).
I think that the Netherlands has extremely high House prices and a lot of debt - but will not crash - for the simple reason that the majority still rent and it takes 12% of the cost of the house in tax and fees to buy a house - so the market will simply stall.
9. Orwell said...
Not true S2R, we are (or were) with 167% of GDP we are the silver medalists according to actual amount (£8bn of £44bn?) and the US are gold medalists (and we know what happened to their housing 'market' now don't we?).
10. paul said...
The market will simply stall?
When a plane stalls, it drops out of the sky uncontrollably. 12% deposit is a requirement?
Sounds ripe for a freefall to me.
11. confused76 said...
sirgoogle, paul,
the Netherlands, like Germany, has had the market stalling because the housing issue was dealt in the right way: DEVELOPING AREAS AND PUMPING UP SUPPLY (I hope the Times quotes this as well :))
Here in the UK, I am afraid this is like Paul said, a jet plane flying at 30k ft and still climbing, but running out of fuel at the same time... how do you arrange for a soft landing I do not know
12. Philld said...
You get the BoE to cut interest rates... staving off the HPC and letting idiots pour more of their hard earned cash into debt instruments (houses)
13. Timebomb said...
The Netherlands' last HPC was 1978-82 with 50.1% fall for 19 qtrs. one of the highest fall in the world! This will never ever happen again! some says, then again who would have said that in 1978 I wonder...
14. denzil said...
Knowledge of HPC is incredibly widespread.
No doubt HPC'ers will be blamed for the crash and it will have nothing at all do with the artificially manufactured boom fabricated by the future un-elected Prime Minister of the UK.
15. bidin'matime said...
The tide is ebbing ever more strongly...
Well done everyone for keeping the pressure on.
16. nearly30 said...
Hey - the more press we get the more likely someone who makes policy may even take some of our sage words as advice.
You never know!!??
Nice to think that you can sometimes influence paradigm shifts - as opposed to always being a witness to history [repeating itself].
17. Fourstarazzurri said...
i have been logging onto hpc site daily for the last two years and have been spreading the word about the crash but no one believes me but now people are becoming cautious.in my short life span of 39 years i too have witnessed house prices rise and fall twice but have managed to purchase my property in 1998 for a ridicuously small amount.greed is driving the market and commensense will prevail.i just cant wait for the next crash, should be within the next 12 months i predict.