Warwickshire Lad
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Posts posted by Warwickshire Lad
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I'm not sure that my Net Worth would agree with you.
The only thing that really matters in life is if you have your health.
If you don't have that, then what does money matter.
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Yep, the only way is up.
For IRs.
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Gordon Brown has destroyed a lot more than some statistics.
He's presided over an economy which will take a long time to recover from the forthcoming downturn.
Still, Gordon won't care, because his pension will be OK.
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What really infuriates me is that this has all been so obvious from the moment Labour got in. Labour always, always, always mess up the economy.
Have to say it wasn't to me.
Didn't realise that a property bubble would engulf the UK and the world. Unfortunately such a website never existed in the late 1990s to warn me.
If I'd have known, then my life would certainly have played out a lot differently - that's for sure!
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The losers are the ones who hang on too long and get caught in the rush for the exits.
When IRs go up, TTRTR might be able to raise his rents - but that's neither here nor there since the ensuing property crash will have wiped out a big swathe of his equity! I don't understand some people.
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I might re-enter the market at sometime in the future, but certainly not until I can get yields of 7%+
Congratulations on deciding to get out of BTL.
All it needs now is for the rest of the BTL brigade to follow your example, thereby bringing house prices back to more sensible levels.
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Are you really just another loaded STR? If not, wouldn't your money be better spent buying a house?
After many years of hard graft and sacrifice, I have roughly £30K saved, which pales into insignificance with the kind of money that STRs and others seem to have here.
Thought the advice to get into gold was good so went with it. My money's mostly still in the building society.
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IMO the less an LL raises their rents today, the higher they'll raise them tomorrow.
If you feel higher IRs mean higher rents then go ahead and boast about it.
As far as I'm concerned, higher IRs means lower house prices, a time when I'll buy, and therefore no more rent paid to the likes of you.
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I hope to buy in when it stops heading downwards.
I sold last night and banked the money. Made a couple of grand on a £5K investment.
Hard to say how much of a downswing gold is having really, but it looked ominous to me so I sold.
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For the bubble to deflate entirely on the basis of the gold price implies a gold price around $1700.
This is interesting, but the fact is the vast majority of people keep their money in ordinary currency and not gold.
Once interest rates rise significantly, there is going to have to be some equivalent significant nominal decline.
If there isn't any (or there isn't much) then I and most other FTBs are not going to feel satisfied with that.
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It all can't happen fast enough for me.
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I agree entirely. As a potential FTB, I have decided to take a year off, and travel a bit.
That's a great idea. I think it'll be very good for the karma to forget about property.
I think that the 'security' that owning a house gives you is massively overrated.
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I think that it's spot on to say that things like this have been going on all over the place to varying degrees.
It stinks to high heaven of course, and now the EAs in this instance want to keep the prices high.
They are beneath contempt.
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I think it is good advice to step back and think. I feel I have been pressured into it a bit. Friends of mine bought when we moved down to London at the same time, and they just recently sold making £80k profit which is being used to buy a new flat to live in and deposit on a BTL investment (they are very bullish of the market and keep telling me to buy now or miss out again).
Even though the market has been flat for the past 2 years, sentiment is still fairly bullish amongst the masses, as you have observed.
However, that doesn't mean they're right to be bullish - we're talking about sheep here with bugger all knowledge about how international economics work.
If you really do have to buy now, I'd fix your mortgage interest rate for as long as you can.
Also, remember that the more you borrow, the more you have to repay in interest. For every £1 you borrow that's £1.70 you pay back - multiply that by what you've borrowed, and that'll be the amount you have to pay from your incomes (net of all taxes and all household bills) every month throughout your entire working lives.
Also consider whether or not you need a larger property in the future to support a family and whether or not you will even be able to afford to move up the "ladder" with prices this cripplingly high.
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and why would anyone want to 'safeguard' the prices anyway
Next time the EAs and the vested interests talk about how much "pent up demand" there is for property to keep prices high, it might be worth thinking about how much "pent up supply" there is out there, from repossessions to BTL sell offs.
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"The best way to safeguard house prices in a event like this is to make sure that properties are released back onto the property market slowly."
What utter rot.
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The trouble is this housing bust is going to drag the US economy into recession.
.... and although the Fed got away with cutting IRs in 2001 to avoid recession, this time IRs will have to continue to stay high throughout in order to prop up the dollar.
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I'd personally like to see a graph of the Icelandic Krona over the last year. A country so dependant on imports can't go without inflation if the currency suffers.
This is the best I can find which only goes back 6 months, but the recent action is pretty clear :-
http://www.advfn.com/quote_UK-Sterling-vs-..._FX_GBPISK.html
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Why do some people on this forum whinge and moan about high house prices? What is wrong with high house prices?
A lot, and you know it.
You have absolutely no appreciation whatsoever of the real dilemma and hurt that has been caused to countless FTBs everywhere.
You are very insensitive and you should take your trolling elsewhere.
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Indeed, if it wasn't for the fact the USD has tanked in recent weeks and the fact gold has smashed through $700 barely a month after breaching $600... would the Fed still be talking about raising in June and August?
I think that IR hikes still have some way to go in the US$.
The Fed will want to stop the hikes, but the markets won't let them stop.
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New Zealand is actually going through the same problems as Iceland
Yep the Kiwi $ is currently sinking, a great time to go on holiday there. I'm planning one.
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Quite, their statisticians are far too honest.
If you look at the Icelandic Bank's own CPI forecast, it's hopelessly wrong. The inflation genie is definitely out of the bottle there.
http://www.sedlabanki.is/?PageID=202
Of course, Iceland is a small country so you could argue that the economy is different to that of larger economies like the UK and the US - but is there really a lot of difference ?
IMHO this is a portent of what is to come, and I have a feeling that some serious s**t isn't far away from happening in the U.S.
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You all must see the CPI inflation graph of Iceland - it's some spectacle :-
http://www.sedlabanki.is/?pageid=201
It's all going rather wrong there.
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It indicates to me that they may well be a run on curries.
Let's get the news Tikka updated...
Please Get Rid Of The Google Ads
in About housepricecrash.co.uk
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Slowly but surely it seems that the forum is being crowded out by more and more ads.
I've always accepted the banner ad at the top of the forum - and I was just about prepared to accept the banner ad at the top and bottom of each topic.
However - the Google ads at the side now are a step too far.
Colectively they are taking up too much screen real-estate, and yes it hasn't failed to escape me that the housepricecrash.co.uk logo in the top left has shrunk.
I can understand you need to raise revenue etc., however you do it at the risk of pissing off your forum members, and I for one am pissed off right now.
Don't turn this website into a over-commercialised crap-hole.