Friday, Nov 14, 2008
Repossession, repossession, repossession
Channel 4: Location, Location, Location a Survival Guide
This is just a general sort of reminder for Monday evening at 9 o'clock. We can discuss on Tuesday who had the overwhelming urge to smash their TV in, and who succumbed to it ...
Posted by mark wadsworth @ 08:11 PM (974 views) Add Comment
13 Comments
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1. Freed said...
Is this an attempt by Channel 4 to make sure Kirsty and Phil survive?
2. Landedgentry said...
Great advice from the people that got you in debt in the first place.
3. denzil said...
I really don't know how anybody could contemplate smashing the TV in when Kirstie is on.
4. Higland Property Bubble said...
This guy is a charlatan in every sense of the word.
"The mortgage companies right now are looking at three times salary and 75 per cent loan-to-value"
This equates to a £45k mortgage which is still a large loan when one considers repayment of the principal.
Average prices have a very considerable way to fall yet.
5. Ulfar said...
I have this urge already just while watching the advert.
This is more insensitive than the behaviour of Russell Brand and Jonathan Ross, these smug property ramping t**ts have caused untold misery and harm too people who followed their advice.
6. malct said...
silly young men
idolizing two dimensional representations of three d brain images appearing between their legs
yes denzil this is really on topic HPC stuff
bring on the conspiracy facts!
7. bystander said...
....when you see the adverts with Krusty spouting the same old nonsense; "I really believe that is she doesn't buy now then she never will", implying that the buyer is being stupid as now is the only chance she will have to get on the property ladder, when in reality Krusty should be implying that if she doesn't get fooled into buying now, she may rent for the rest of her life and save herself a future of over leveraged debt on a falling , and remain fallen asset. There really should be a law passed which would allow imprissonment for creating bubbles based on lies, damn lies and statistics. I'm angry already, better use my other credit card and buy a super delux, back lit 300" plasma/LCD/HD ready fantasy generator to replace the one I am about to smash.
8. alan said...
I have had enough of Kirsty & Phil. I'm not going to watch.
However, a lot of folk will watch. Among them will be those who are expecting a higher and higher standard of living despite the fact that the UK is unable to deliver their dream for them - we are steadily & gradually ceasing to become a senior player on the world stage.
I can't stop people's expectations. Reality will finally kick in, but untill then credit card balances will rise as large numbers of folk are determined to live the life they feel entitled to. Flipping houses looks so easy on the show, doesn't it? Money can be made by just playing the same clever game as everyone else....can't it?
9. sid public said...
Don't know if anyone watched Rich Kid, Poor Kid the other day but it was a really interesting insight into modern Britain.
It showed two teenage girls in who have grown up in the same street in Clapham (expensive but still turdhole part of south London) but had such unbelievable different life stories that it was more like watching Pygmalion than 2008.
Anyway, the rich bitch mother (who had bred her daughter in an environment of fear to the extent that at 15 years of age she had never turned left!) used to enjoy living in the area but decided, ohhhh, about one year ago that she didn't.... could that be around the same time when her overpriced 'mansion' located next to a council estate started losing £1k per week?!?!?... I wonder how many other people won't be prepared to putting up with living where they live (i.e. the whole of London) now they're not earning them more than the average wage each year?!?!?
10. Redbullish said...
Just why are these 'experts' back on TV? They had their moment advising idiots how to make money by buying property which was hardly taxing, considering it was given during the biggest boom in history.
Krusty couldn’t even keep herself out of negative equity in the last crash, which was less severe and Spencer, opened one of his 'advisory' offices in Knutsford only to close it 12 months later. Exactly what can these jokers tell anyone?
11. Woodstock said...
For me Krusty lost all credibility some considerable time ago. Now there's a preview stating that "I really believe that is she doesn't buy now then she never will" , can't we use this to pressure the TV companies that pay the sad deranged mare to stop paying her! She seems stuck in 2002, mind you, if they offered to pay me the same I'd happily declare that ' prices are still going up and if you don't buy now you never will'!
Meanwhile, back in the real world, I work in housing and am a former landlord ( thankfully I got out whilst things were good), and I get work referrals only when people first put their properties on the market, so I know far better than Krusty just how things are!
The market has been completely dead for 6 months (SW England). I have a number of Solicitors and Estate Agents giving me all their work so I know what's going on).The few properties that actually sell are priced at around 70% of 'current market value'l! I personally think property will fall 50% before sitting for 3 to 5 years in the doldrums and then make a very slow recovery.
As for Krustie's advice? Forget it!
Rent for the time being, buy in 2012 if prices seem to have stopped falling from their 2007 peak, if not hang on untill they do!
If you want to sell your property reduce the asking price by at least 30-40%. Only then may you get an interested buyer with a chance of financing it!
12. Jim Vestor said...
What a load of spin, anyone can see that we are in this for some time to come, at least 5 years!! This economy is built around housing and property, its what we (britain) do, and with house prices falling off a cliff people arnt going to buy until they can see the bottom (80% off at least). With the property market stuffed the whole economy will naturally be stuffed too. Im just glad I dont have a mortgage to pay incase I become one of the millions about to loose their jobs. Im going to stay living with my parents until house prices have fallen 80% (unless dad looses his job, and we get reposessed). Oh god, im never gonna buy!!
13. Daniel said...
I do hope that the programme will not show Kirsty and Phil, Irresponsibly advising, or interviewing people, who have a vested interest in selling property in the present climate.
However, after browsing the location, location, location website, I do not believe it will be an impartial programme at all.
On their website, they have interview quotes from so called 'experts' who are in fact business people with vested interests in suckering impressionable young people into purchasing their first property.
'Yolande Barnes of Savills, who is credited with identifying the last bust and boom years, supports Beale’s assertion that prices will fall by 15 per cent in 2009. But she says that from 2010 the housing market will recover and will increase 20 per cent by 2012, with London leading the way.
'David Bexon, managing director of independent new homes property portal SmartNewHomes.com, says, ‘The lack of supply (of new properties) will hit home in certain areas in 2009, and while I expect a continued decline over much of next year, I do not expect new house prices to fall further than 15 per cent from their July 2007 peak. I believe we will have reached the bottom of the market by the end of 2009.’
For those of you who do watch the programme, and believe it to be totally and wholly innapropriate, biased, and describes an unfair, innacurate, and irresponsible description of the housing market.
You can and should complain here:
Complaints
Channel 4
PO Box 1058
Belfast
BT1 9DU
WEB: http://help.channel4.com/SRVS/CGI-BIN/WEBCGI.EXE?New,Kb=C4_Author,Company={2EA1BB9C-510E-44A5-A481-01EB1DDA1669},T=CONTACT_VE,VARSET_TITLE=TV
And to Ofcom here:
http://www.ofcom.org.uk/complain/progs/specific/?itemid=286480