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House Price Crash Forum

Bearfacts

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About Bearfacts

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  1. Basically because consumers who have depended on HPI to fund their spending will no longer be able to do so, I believe a large chunck of spending has been funded this way in recent years.
  2. Latest from Mrs BF - the EA she works for is very busy - with valuations - buyers have gone a bit quiet apparently. Looks like the next leg down is inevitable to me and I speak as a home owner. The only doubt I have, and its the doubt the caused me to buy a year ago, is that the banks and government know full well how disasterous any further falls in house prices would be for the wider economy and will do anything to prevent it, including allowing inflation to eat away at the national debt rather than see the market correct. You can already see the articles attempting to justify keeping IR
  3. Well - it's been nearly a year since I managed to beat my addiction to HPC and stopped posting so I thought it might be time to see if I can handle another short 'dose' with an update from the frontline. Mrs BF works in an EAs in the S.E so keeps me advised of activty as she sees it. For what it's worth Mrs BF reports that they are currently very busy with properties being sold quickly and at very close to the asking price. It may be worth mentioning that we live in an area that has just been linked to London by high speed trains so this may not be representative of the rest of the UK. I kn
  4. What really gets my goat is that this all happens without any debate in the house of commons or any debate even in the media. Darling just borrows 40BN more of our and our childrens future earnings and then chucks it to the bankers with barely a whimper of protest from the Great British people - un frickin believable. I truly hate the government they have commited the crime of the century - we have all been fleeced.
  5. You must be refering to the CPI / RPI figures ? Let me guess - they have bounced and are now heading up not the least because the price of oil has bounced and also due to QE. SO much for all that deflation bull shit. Bet the BOE will not up IRs though - they'll sit on their hands and let inflation rip claiming it would be irresponsible to increase rates during a recession. I think we're about to discover the next leg down.
  6. You must be refering to the CPI / RPI figures ? Let me guess - they have bounced and are now heading up not the least because the price of oil has bounced and also due to QE. SO much for all that deflation bull shit. Bet the BOE will not up IRs though - they'll sit on their hands and let inflation rip claiming it would be irresponsible to increase rates during a recession. I think we're about to discover the next leg down.
  7. Much to my amazement the government and BOE have proved themselves only too ready to debase our currency via zero interest rates and the printing of money in a desperate attempt to prop up the property market and by extension the banks and UK economy. They seem to have achieved their aim for now at least but I suspect they have merely succeeded in putting the day of reckoning off for a year or two at most. When the Tories take over next year I expect them to impose strict fiscal discipline, stop debasing the currency and start repaying debt. At this point life is going to get very uncomfortabl
  8. You have hit the nail on the head. I had always factored into my considerations that the central banks and government would behave in a logical, responsible and moral manner with a view to long term economic stability whilst maintaining a policy of 'sound money'. They have of course done the complete opposite with a policy of printing money and slashing rates to zero and then throwing large piles of borrowed cash at the housing market, this unnerved me as I realised I had no idea what impact this might have on the economy/ housing market. Brown and Darling seem absolutley determined to do wha
  9. See, I just can't give it up ! It occured to me belatedly that stating that we might lose a six figure sum might sound dramatic and might make it sound like we are buying in Mayfair but if you consider that according to the Halifax the average property was 'worth' approx £200k at the peak, then a 50% fall would mean that the average property would have 'lost' a six figure sum i.e £100,000. Now that I have cleared that up I really am going.
  10. Thanks for all your good wishes. I knew some of you would think I am being stupid buying now ( I have doubts myself ) but as I said there are factors other than money to be considered here. My personal circumstances are such that I have the time to work on this project -that might not be the case in 1 or 2 years time. House is, of course, not in Mayfair - it's on the Kent coast. 'Losing' a six figure sum would require falls at the extreme end of the scale - although I acknowledge it is entirely possible. The property is really very modest, perhaps this just indicates how absurd the propert
  11. Just in case anyone is interested I was persuaded to buy a house yesterday by Mrs BF. Now before you start giving me a hard time let me explain that: 1. We have just purchased ( well offer accepted ) a dilapidated two bed bungalow. This is, for us, a self build project. I really wanted a virgin site but even now a good one where you want it, is hard to come by so we've settled for sticking another floor on a bungalow. Building yourself works out a whole lot cheaper than buying 'ready made.' The site is almost ideal for our needs / wants - they don't come up very often. 2. We did negotiate 16
  12. You should remember that the posters on this site were just about the only ones predicting the crash against all popular conceptions and media spin. We were right. One months figures from NW make stuff all difference - prices 'rose' 18 times in the last crash but fell overall significantly. I find the Nationwide figures literally unbelievable - how can prices possibly rise in a recession - with transactions significantly lower than last years when prices were tanking ? I'll put this down to a statistical blip + pressure from DowningSt to show something 'positive' + bull trap. Normal service
  13. Seems the city has learnt nothing - how depressing. No wonder you all get paid so well !
  14. Was it £35K ? - what would that buy in the UK ? A lock up garage ? Assuming its outside of London of course. Yet more evidence of how insane UK property prices still are. Good on yer 'มร หล
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