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House Price Crash Forum


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About andy_wants_a_home

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  1. I have a savings account with Abbey interest due yesterday am going to make book up today. Will be passing my discuss at the latest announcement. I am not a homeowner and this is not the solution. I am going to withdraw all my £12K. I would suggest everyone who has an account with abbey withdraw this lunchtime. Please join me as I fear my token jesture may not have much impact. But will make me feel better.
  2. I have a savings account with Abbey interest due yesterday am going to make book up today. Will be passing my discuss at the latest announcement. I am not a homeowner and this is not the solution. I am going to withdraw all my £12K I would suggest everyone who has an account with abbey withdraw.
  3. Absolute bargain. In twelve years at 20% per annum increases, that's a doubling about every 4 years they'll be £5000000 !!! You can't lose assuming there's some muppet to buy it of you at the new price. Year Approx price Average Wage Multiple approx 2006 £650,000 £30,000 22 2010 £1,300,000 £37,000 35 2014 £2,600,000 £44,000 59 2018 £5,200,000 £54,000 96 2022 £10,400,000 £65,000 160 So at current rates of average 20% yoy HPI and wage inflation at 5% (optomistic) by 2022 you'll be sitting on propert worth £10M earnig £65,000 a year paying of the mortgae on the original 650,000 of about £4000/ month is now only about 100% of your take home pay. And look at all the profit you'll make selling it on at £10M to the next muppet. Since the multiple have not hit infinty I am sure the banks and lenders will find even more outrageious schemes to enable people to borrow enough to 'afford ' the propoert. Hey look in 2022 when obviousl no average individual can afford they could extend the multiple ownerships at a guess 5 times multiple will always be possible for the individual so therefore 32 persons could take shared ownership on 2 bed appartment. It may however be a bit cramped though there should be standing room for each. So of course its all bound to continue as it has done for the past 10 years or so with 20% yoy hpi and 5% wage inflation. The house will always earn more than you There will always be new schemes coming along to prop this healthy market up. Buy now before it's too late.... would you be able to afford it in a few years time, of course not, so buy now before it's too late. (What a load of bollxs)
  4. And the rest. Scenario 2 is much cheaper as if interest rates were 15% this means that wages will be going up at a much faster rate than they are now. At 15% after 5 years the monthly payments is halved in real terms. Whereas in scenario 1 it takes about 15 years for monthly payments to be halved in real terms. In other words with 5% case you will be paying a high portion of your take home pay for a much longer period of time. Inflation (as fiddled by the Government so as not to include HPI) is the homebuyers friend.
  5. I'd buy it if it was covered in marzipan, my favourite bit of a battenburg cake.
  6. She may well be Sh@gging the boss. She may not. But she certainly helping Fuk this country right up.
  7. I wonder just how much it would have been if they had been arssssed to put up the other curtain. It would appear that the most spacious room is outside, and there's not even enough room to swing a cat. Who on earth gives permission for such small sh1tholes to be built. Fecking ridiculous
  8. just turned over to the hits channel 18. Pet Shop Boys. Oh the good old days. It's a Sin Quite agree Yes it certainily is, all this pushing and proping up prices at all cost. Cost to most of the mid thirty somethings and younger.
  9. She's done it again front page VI propogranda c**p. One side Sh1t She needs to be educated or sacked. What does anyone ekse think
  10. HPI UP = LESS DIPOSABLE INCOME = LESS SPENDING ON NON VITAL ITEMS = NO SPENDING ON NEW CARS = Fewer car sales = fewer car related jobs HPI UP = LESS DIPOSABLE INCOME = LESS SPENDING ON ALL NON VITAL ITEMS = MOST OF HIGH STREET = FURTHER DEFLATIONARY PRESSURE = DEFLATION = WAGE PRESSURE = LOSS OF JOBS = LESS DISPOSABLE INCOME = LESS SPENDING ON ALL NON VITAL ITEMS (just remembered been here before) etc.. Rampant out of control HPI is the cause of most of the problems in this country, and the f*****g carp government we have in power.
  11. Lovely place is stretching the point a bit. Nothing wrong with the price though, look we are all going to still be in work in Zimmer frames, so we have many years to pay the mortgage off, hey and theres these shared ownership schemes. What a cracking idea they are, we could all take a 1% ownership, what with low intersest rates, stable wages, yeah we know what we are going to be payiing every year of our lives, easy to budget (low interst rate+low pay inflation= burden of debt very slowly erodes), nothing much else to be able to spend on, so all you need to worry about is the mortgage, water, elctricity, upkeep of house, gas, council tax, and you may also want to pay for food and drink and have some clothes. No holidays to book or worry about. No packing to do, no moving, you can live there the rest of your life. Forget any notion of having kids, anyway you save on sleepless nights and smellie nappies I can see the advantages. Fantastic. I forgot to mention that the properies value will only increase. YOY it'll go up on average 25% like the last 8 years or so. By the time you retire (and you may have 1 year left in you by then) it will be worth £trillions that will give you Millions to spend per day, because, of course you'll be able to release the equity in the property, as the new 'owner' (mug) of the property can not lose either as they always go up, we keep getting told this by Krusty and all VIs (must be true) and yet somehow always affordable (by some crackpot scheme or another) So theres your 'pension' sorted out too., no need to save for that now, oh! but you couldn't anyway its all going on some SH1thole to live, but its a great pension pot.... So there you go, what's stopping everyone pilling in and buying this bargain cosy abode. (Cheapish to heat) You have your life planned then all your income to pay for mortgae and all the other necessary things til the day you retire (at a great age), release the equity and live well for a short while and die.
  12. "By 2026 only three out of ten of today's ten year olds will be able to afford to buy a home when they have families of their own if we stick with current building rates." Three out of ten, how on earth will any of them afford!! Let's do some simple maths: 3 fold increse in 7 years 2026 is in twenty years time (2026-2006) Is this simple enough govnt. Just as you (the Govnt.) manipulate stats. I shall do so but be upfront about it.. Let's call 20 years 21 years saves getting out the calculator (I can't be assed to give Govnt. too much of my time) 3 cubed is 27 (If you haven't caught on Govnt. that's 3*3*3 whcih is 3 treblings 1 trembling for each 7 year period) Now average price is around £200K (agin rouded up slightly but will compensate with my next figures) 2026 avg. price therefore 27 *£200K = £5.4M Wages now let's say £25K (I know a lot don't earn that me included, this is the compensation bit) Let's assume 3.5% increase per year wage rises Using the rule of 72 i.e divide 72 by % rise gives approx time to double. Now 20 * 3.5% gies us 70 which is nearly 72 So in the 20 years wage will double (approx) PAy (2026) = £50K Average propery = £5M (Round down to allow for some stagnation in the market, and to make maths easy) therfore will have to borrow 100 times multiple of income. Now unles the 3 out of 10 work in the squre mile with amazing bonuses abd great basic pay how the feck do they expect anyone to afford. Yes I agree they need to build more. Yes better late then never but surely there is a whole host of other issues that need to be addressed to stem and reverse this utter madness In 'how long is a piece of string' a chapter aptly named 'How do conmen get rich?' has a paragraph titled 'All bubbles burst eventually' I like the part 'After a while, people buy purely on the assumption that they will be able to flog what they have to somebody else for even more It has to stop somewhere.'
  13. GOrdON Brown is an arragonant thieving B*****d. He's robed us of our pensions, rakes in much tax from overinflated house prices by way of stamp duty when we purchase and inheritance tax when we die, he ain't getting enough taxes I tell thee he needs more. Probably to channel into becoming big landlord and thus raking in more money. Too much greed.
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