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House Price Crash Forum


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Everything posted by mikthe20

  1. Incredible. They really are just tulip bulbs.
  2. Think this is broadly correct. I did manage to get some quotes for a house extension and they were pretty much the same as a standard build - the argument being that SIPs are a lot quicker and more convenient, so no need to discount. Seemed like a crazy way to market them.
  3. It's OK, "seasonal slowdown". I presume the season they're referring to is the cricket season and all the cricketers have vacated large numbers of London properties to leave the country and head south.
  4. Nice to see someone creating intellectual property and jobs doing well. Never think it's fair to accuse a founder of not supporting his company just because he sells some shares - he's probably bust a gut getting there, has earned his wealth, and shouldn't have all his eggs in one basket as impossible for him to know what governments, competitors or markets might do. Fair play to him.
  5. Did he just imply convert city prisons into housing?
  6. The car in that picture is a Facel Vega II from the 60s. I almost bought an excellent one about 15 years ago for £20k. One in the same condition is now £300k! Classic car market is bonkers too - bublicious!
  7. http://www.bloomberg.com/news/articles/2015-11-12/london-mansion-prices-fall-11-5-as-home-bubble-may-have-burst
  8. "Inside the US Federal Reserve" on Al Jazeera right now. Quite intereesting following history of the Fed. They've just got to Greenspan...
  9. I'll be very impressed if he does, but very much doubt it - his Islington North constituency is full of champagne socialists who've benefited massively from HPI.
  10. IO mortgages will be next. "I didn't know interest only actually meant, err, interest only".
  11. Having had various chats with Mr Cable, I always found him very polite, intelligent, willing to talk, and lacking in any arrogance which most MPs have. However, you're absolutely right!
  12. Thanks for that, really interesting. I see that we stand out of course, but interesting seeing Spain is still overvalued despite the plunge, and LOL at Germany!
  13. Makes sense, because there's so little land in the countryside FFS
  14. They talk about learning from history, but it seems our world leaders can't remember what happened last week or a few short years ago, let alone the crashes of the 30s or 80s. Always thought it was weird that Gordon Brown seemed to have forgotten about the late 80s/early 90s crash come the early 00's - fecking gold fish brains!
  15. Another anecdote from me for this thread. I previously mentioned my neighbour deciding not to buy another BTL due to the budget. Another person I know has been talking about buying a BTL or two for some time as "I don't earn any interest on cash in the bank". She is extremely bright and very high up in a blue chip organisation, well into higher tax bracket. Saw her the other day and she said she was going to go ahead with it in the autumn. I told her I was very surprised considering the budget changes. Her answer: "What budget changes?" I mention this only that there are a lot of people who will remain misinformed for some time until, hopefully, it becomes common knowledge that the BTL game is over. There will remain many people who stick to the mantra "property only ever goes up" for a long, long time. I explained the budget to her and told her to get her accountant to run the numbers, which she has promised to do and seemed very grateful (she texted me a couple of days later to thank me).
  16. It shows politicians have no interest in economics and yet run economies! Explains a lot.
  17. Yep, and it'll be proper herd mentality - they'll probably all work it out (or rather, end their denial) at roughly the same time and head for the exits, trampling over eachother trying to save themselves.
  18. Would anyone like to introduce the phrase "If you're going to panic, panic early" into that forum? I can see it becoming a meme very rapidly on there once the seed is sown ;-)
  19. What might be interesting is that new BTL purchases might fall of a cliff immediately if my neighbour is a typical example: Was chatting with him last night while putting out the bins. He's just bought a sports car. "Nice car" I said. He told me he was going to buy a BTL property but after the budget and being a higher rate taxpayer he went and bought the car instead as it was no longer worth it. "Osborne's ruined my retirement plans" he said - has 3 BTL properties - his plan was to build up a load of them - has decided he's not going to add to his portfolio under these rules. Osborne's going to come under a lot of pressure to water down this policy I think - hope he's got the balls not to.
  20. I'm not a kipper but top speach there. Thanks for posting.
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