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House Price Crash Forum


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About bobdylan

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    HPC Newbie
  1. What they mean is that sales for Jan-July 2010 are 15% higher than Jan-July 2009.
  2. Note that the 13% covers both fleet and private. Private sales are actually down 16.8% YOY.
  3. Works great - well done to the developer. I was able to easily see today that of the 7 'new' properties in my rightmove email notification, 3 were actually price reductions on existing properties. Excellent.
  4. As house prices start to fall, the line will be: 1. House prices went too high because interest rates were too low. 2. Interest rates were too low because CPI was flawed, because it didn't include house prices. 3. We must now put house prices into CPI, so we can avoid this problem in future. Thereby killing two birds with one stone - an excuse for the old problem (CPI was flawed) and a solution to the new problem (keeping CPI down in the face of rising food, fuel etc)
  5. From the ONS web site: "Another large downward contribution came from furniture and furnishings, with average prices falling over the month by more than 10 per cent" So you think it's plausible that furniture in general is 10% cheaper than it was a month ago? I'm not saying the figures are deliberately fiddled, but they're obviously nonsense. No?
  6. I don't think so. See http://www.nsandi.com/products/ilsc/tandc.jsp It refers to "UK General Index of Retail Prices" which sounds like RPI to me.
  7. The loan is secured against the house. If the house is valued less than the loan, the loan is no longer secured and the bank's risk of loss has increased substantially. The bank can decide its best option is to sell the house. As I understand, they used this option in the last crash.
  8. Here are the sales figures for all of 2004, by model. Source is the SMMT. Notice that the Mondeo appears in this list, but the BMW 3 series does not. Focus 141,021 Corsa 101,625 Fiesta 89,295 206 86,605 Mégane 86,569 Astra 85,087 Clio 72,412 Golf 69,784 Mondeo 60,441 307 58,742 Probably what you read in What Car, Parkers etc is that *private* buyers buy more 3 series than Mondeos, which may be true. But the Mondeo is still a more common car on our roads, due to its popularity with fleet buyers.
  9. Don't think so. According to SMMT figures for Jan 2005, 5394 mondeos were sold compared to a total of 4434 BMWs (all BMWs, not just 3 series).
  10. Looks like private car sales have fallen off the edge of a cliff. See BBC article here: http://news.bbc.co.uk/1/hi/business/4236235.stm
  11. Our house isn't listed on ourproperty either. I contacted them and they sent me an email saying they'd look into it. I checked on the land registry site and the transaction is listed there.
  12. If you look at historical prices, you'll notice that Northern Ireland missed out completely on the late eighties boom and bust. Most people in Northern Ireland have no personal experience of a house price crash, and simply don't believe that house prices can go down. They're in for a nasty shock.
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