unklmic

I have been regularly visiting this site, and in particular the news blog postings. Has anyone else noticed how the tone has deteriated so much over the past couple of years. It used to seem to be quite objective, if not slightly favouring the bear point of view. Now it is full of rubbish conclusions and one sided tripe that I no longer recommend people to look at it. The sensible arguments that prices will come down are being lost in the gleeful doomsdayers nonsense. It is now embarrassing to admit that I visit this site as it seems to be frequented by radical loons wishing for economic meltdown and wrath on all BTLs / Banks / Homeowners / Property Program Presenters. All I want is affordable housing? Please people, let the facts in the articles speak for themselves. Make an objective summary but stop the pathetic attempt to read more into the article than there is, you are weakening the case. No better than the VIs spin!?

Which is why they can afford less, so can offer less, so it does have in impact of the actual selling price. Scrap the stamp duty - FTB can afford more, and will offer more, so house prices go up?

If stamp duty increased significantly, affordability would decrease, so it would eventually result in lower prices. It would also increase the costs of buying and selling, making it less profitable to speculators. Scrapping stamp duty would result in a significant amount of property priced at 250k (the lower level is irrelevant since houses cost much more) jump much more than the additional stamp duty saved due to the elimination of this 'wall' (in my opinion anyway).

RICS think stamp duty hinders FTBs. I couldn't disagree more. If stamp duty were scrapped, the price of houses would increase by the amount of stamp duty that is no longer paid. If I buy a house for £200k, it makes little difference to me if this was stamp duty free, or if the 200k includes the stamp duty. I still have to stump up £200k. In fact I would rather some of my £200k go to the government that the person who paid £100k for the house 3 years ago. Also, having house prices stick at the threshold points is GOOD for the buyer. How could is possibly be bad ?

Surely you have something better to do!?

Thanks. I already have £4k in a gold ISA - looking to transfer £8k. I am not too happy about putting it all into gold - so should perhaps look into other sectors - countries. Germany? They have had a lean spell - could possibly be turning around?

I have done very nicely with my FTSE 100 tracker, and I am breaking even on a FTSE Techmark Tracker (Which was seriously down at one point - so it has been performing well of late) I am a bit pessimistic over these investments into the future so I think it is time to sell. It would be a pity to lose the tax free status of the investment. Is there anyway that I can still keep it tax free?

Met up with a friend this Saturday. He has been living with his now wife for over a year - they both own a property in Putney. His has been on the market since they moved in together - well over a year ago. It is an enormous two bedroom Mansion flat - the living room alone the size of an entire newbuild. A bit far from any public transport - but lovely green area. Quite a desirable flat in my opinion - bar the lack of close public transport and the stairs - 4 flights up - lovely view though. It has been empty ever since he moved out - no buyers so has decided to let it out. Apparently got new tennants paying £1350pm - before agents fees etc. His mortgage repayments are £1650 - probably repayment - I didn't ask. Thats a serious cash flow shortage each month - and he bought it almost 4!! years ago!? Anyway - on the way home - early Saturday afternoon - walking past the plethora (minus one - Closed down recently) Estate agents - ALL EMPTY bar the odd man in a suit looking at his PC - including a large foxtons, I started feeling a little bit better. I had recently begun to have doubts - It seems I have been waiting forever. Not much longer...

ES. So you are now a "long term bull", are you? Then why not join us in the realisation that at the moment house prices are way too high and are due for a correction. This does not necessarily fly in the face of your "long term bullishness" now does it? Why do you argue with people who intend to buy in a year or two when prices are more realistic with """""long term""""" arguments?

I love the ending This could be big - for you!

With all my savings outside of an ISA sitting in an ING savings account (interest rate just dropped), I am getting worried about a falling pound. Does anyone know how to get a foreign currency account (probably in Euro's)? Do they pay a reasonable amount of interest? Added: Is there a better way to hedge against a falling pound rather that exchanging physical cash?

Thanks for the info echapps. If I read the graph correctly, there was a big dip in the FTSE during the last HPC? Are things different this time?

Any thoughts? As people begin to accept that houses are coming down, I'd imagine that those reasonably intelligent people with investment property will sell (for what ever they can get) - and might shart buying equities with the proceeds? This could cause equities to rise. Obviously, falling prices mean less profit for retailers. People will default on loans - should cause drops in financial institutions - but by how much!? If there is a HPC, does that mean there will be a stock maket crash, a high probability of significant falls, a rise, or is there no correlation between the two? Anyone know what happened to the FTSE during the last HPC? I am not to keen on the idea of selling all stocks and shares and buying precious metals, kinda putting all eggs into one basket - but if that is were the smart money is if there is a HPC... Thanks!

I like the underlineD text: TAKE ADVANTAGE OF NEGATIVE EQUITY

HEY NEWBIE!!! Check our member numbers - looks like I joined one after you - same day - What are the chances!?

False logic there. You are comparing the asking to the (would be) selling price - there will always be a spread. In a flat market - the selling would almost always be lower than the asking - you can't say therefore say the market is falling. You need to compare selling to selling.

'Mortage lenders are priming themselves to cut loan rates this week...' 'Mortgage brokers now say that within days fixed rate loans deals could come in as low as 4.3 percent' 'Some lenders have already lowered the cost of their fixed rate loans, but many more are expected to follow...' 'Newcastle building society cut the rate on its 2 year fixed rate loan from 4.67 to 4.49 late last week.' Recent events have been encouraging, and it has felt good discussing the ominous reports - but what say you about this - not good news!

If you have just bought - or rented a place - can you insist on it beong removed on day 1? Do you have any right to remove it your self?

Just say no - and tell the ea to contact you if the vendor has a change of heart. When they (most probably) contact you a while later telling you the vendor may consider, tell them "Great!", but my offer is now only 250k. Of course they will again laugh in your face, but repeat the above - and when they contact you even later - only then consider buying. You could lose out on this one - but how would you feel if you ignored common sence and went for it, only to find a year later you have lost all your deposit and more. You can't seriously pay above £250k for a 1 bed basement flat!?

Be very very careful. Buying a property slightly above 250k, apart from the obvious extra £5 000 stamp duty - House prices tend to 'stick' at £250k. If the market falls from these levels, even slightly - the house's value will fall to £250k and will remain there until prices increase significantly above again. Offer him £250k - and let him know that that is final. Maybe a LITTLE extra in cash for funiture & fittings. It sounds pretty obvious that you are most likely the only person expressing any interest - that should also give you some evidence that the property it is currently overpriced. No more that £250k!!

uh... Consa... getting yourself all worked up... You really should listen to yourself - these figures don't mean much...

There was an article on how property prices are rebounding on the bbc last night. They interviewed some old lady who was selling her house, and she said something like: 'The phone has not stopped ringing since February. There are constantly people coming to my house to view, on the Saturday that I sold, there were FIVE people in the house at the same time viewing. Unbelievable! This from the BBC. Anyway, I listened for the supporting evidence that the reporter was going to give to back up theses claims - basically the number of for sale signs is a sign of a bubbling market!! They interviewed some guy from one of the big mortgage lenders, cant remember which, and he said that he expected prices to continue climbing at a "more subdued" rate of 6% pa. He did however say that the past years rate was unsustainable over the next few years - NO SH!T . I was in disbelief after watching that. The problem is that the average person will believe it. I recon, due to a combination of blatent lies in the media, and the greed and stupidity of your average person - the crash will not be upon us as soon as I hoped. There will be life yet in the market - the clever greedy will have the opportunity to cash in - and when it inevitably all come crashing down - the losers will be the stupid - ie. the average bloke on the street.

Does anyone know of any figures released which indicate how MANY houses are being bought / sold? Most people on this site give the impression that NONE (very few) are selling, and if that is true - then you could almost ignore the price that these few are being traded at as being totally irrelavant to the housing market at present!? Just how quiet is the market compared with a while ago?

Not quite - Can you imagine a bank rising the interest rate on a savings account in advance of a rate rise

When I eventually buy, it will probably be at around the £250k mark - and I think the amount of duty you pay at this level - £2,500 is much lower than the benifit I am getting in not paying over the psychological barrier of £250k. Here is a hypothetical situation - there is a HPC and EVERY house is priced at its fair value. - When it comes to house with a 'fair' value of between 250k and 260k - it would be unlikely it will sell over 250k. If you raise the limit, then these houses will automatically go up? So in my stituation - it is a good thing.