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TheCountOfNowhere

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Posts posted by TheCountOfNowhere

  1. 15 minutes ago, Dweller said:

    I wish it was 'stretching it a bit' .

    REALLY hope the market is stalling. 
    Currently can't get through the door to even  see properties usually so small you can barely get a sofa in the living room!
    Can't afford to keep paying rent out of capital on basic state pension. 

    Let's hope you are right not just for me but for the many who were priced out before this current bout of madness. 
     

     

    Yeah, let's hope so. 

    Lets see what the boe meeting brings but I fear their ability to look through inflation will continue. 

    God this whole thing is rotten 

     

  2. 2 hours ago, TheResponsibleHouseBuyer said:

    Hi All,

    Been looking actively at this forum for past 6 years now, finally decide to make an account because of the craziness in the housing market.

    I keep hearing that rates will go up, but i am just at a loss as to what actual impact this will make on demand and supply of housing.

    Thought i would view and offer on a few properties over the weekend in the South East. Realised that however much i put down i am getting out bid by £50,000 - £100,000, on top of what the actual prices should be right now. On top of this, noticed a lot of speculative properties being put on for insane prices only a few weeks later to be withdrawn with the agent saying they couldn't find anywhere to move.

    Pandemic feels like people have saved up a big chunk of money and those fortunate to work from home have saved a lot on travel (rail, petrol, car) and put this towards inflating the prices. Seems also like people are selling in richer areas moving to more cheaper areas, where in the past no one with a brain would dare touch. In relative terms, the  stamp duty holiday feels like insignificant, like getting a free car service with your brand new Lamborghini.

    Therefore any increase in the base rate is likely to not make a major impact i think........ so if like me you arent a homeowner we're all doomed!

    What's anyone here thinking?

    Uk house market is run on term funding, which suppressed mortgage rates. 

    If they raise rates and keep thar going, no idea what will happen

     

    1% interest rates is not going to stop 5% inflation now. If inflation shoots up to 10%, what then 5% rates? 

     

    At some point an almighty collaoses of something is going to happen. 

    The idiots on here have predicted this for many years. 

    Can't say it gives any joy being right 

  3. 5 minutes ago, satsuma said:

    Interest rates will have to increase now, otherwise inflation will go to 20 or 30%.  They will be lucky to keep it below 10%.  The  impact of this will be a stalled market as people try to predict the rates, should they hold off for a market crash which will cause a crash.  This will start in Nov.  Tears before bedtime will ensue for those involved.  

    Uk rates need to go to 5% 6 months ago. If inflation does rip then the aggressive rises will destroy people. 

    If they refuse to raise rates, then there will be a lot of very angry savers 

  4. 29 minutes ago, spyguy said:

    Well, hes probably reasonably clued up as a social geographer- hes  a ptof at oxford.

    I think the UK is post mortgage now.

    Prices are too high, demographics are too far gone in some places.

    UK mass mortgage has been desd since 2008.

    A social  geographer is in a better position to observe the probate hell thats going to drive housing in a lot of places.

    Uk houses sales have been Round 50% of 2007 leveled for years now. 

    So you are spot on. 

    The market has been dead for years, London bubble has driven the SE and the cv19 bubble but now listings have properly collapsed

     

     

    There is no housing market now 

  5. 1 hour ago, Dweller said:

    Sadly absolutely NO SIGN of that in our experience in looking for a house anywhere between North Wales and Lands End! Anything that would have been £220,000 (earlier this year) now £285,000 + and still multiple viewings and waiting lists and bidding wars. My worry is that if the housing stock has been 50% down all year due to C19 with Christmas nobody puts their properties on at this time of year (let alone during a pandemic) and with the demand still so high I just can't see these prices doing anything other than heading upwards. The agents in August got fed up with multiple viewings so tacked another £30,000 on and still they have multiple viewings so why not add another £20,000 or so! It's OK if a person is selling at that level but even so must be HELL trying to find another property. Would LOVE to think that falls will start to happen soon but I just can't see it. No idea what has happened! 

    Really, no sign? 

     

    Found a house yesterday that was 20% below similar stuff from this year. 

     

    Then property lion is seeing a stalled market. 

     

    No signs is stretching it a bit 

     

  6. 11 minutes ago, Just_Do_It said:

    If Jabber isn't making money on this, then why would they continue with it for 8 years?

    I have a couple of ex-friends who are living off the rent from tenants only made feasible due to IO mortgages, this is truly astoundingly stupid because the mortgages will be called in, they will lose it all.

    They've had the chance to bail out from the 2007 collapse with a healthy profit, not a massive one you understand but a good profit considering they do **** all for the money and do you know why they've not sold ?

    The reason is, they are so far removed from the workforce now the only job they'd get is a sh**y menial one paying peanuts.

    They have dug themselves into a hole and they wont be getting out of it.

    If/when the market collapses, one way or the other, they will having nothing, the will have no future, no income, no job and no friends.

     

     

  7. 23 minutes ago, Just_Do_It said:

     

     

    It's little more constructive than Count, who's convinced I'm someone else!

    I'm not convinced you are someone else, I'm convinced your the same person who's been on here for years defending the indefensible, the commodification of shelter.

  8. 23 minutes ago, coypondboy said:

    yep they have 3.5 million leasehold flatowners who won't be able to afford the increased service charges due to https://www.nakedcapitalism.com/2021/09/is-the-uks-cladding-crisis-about-to-get-even-worse.html

    They will then own the buildings having kicked out the leaseholders due to forfeit of lease fix the works and let them out. 

    Games rigged.

    They know they sell them on the open market house prices collapse.

    The trouble is, not 2nd steppers, the next level up has to fall to become FTBer fodder :lol: 

  9. 18 minutes ago, fellow said:

    The West ceased to be capitalist when they bailed out the banks in 2008 and started propping up the stock market and housing market with printed money at the slightest hint of a downturn. They have effectively capitilsed the gains and socialised the losses and all this has achieved is it has sucked money out of the productive parts of the economy, devalued the currency and increased the gap between the rich and the poor.

    if they had let the market correct itself (capitalism), our standard of living would be substantially higher.

    Spot on.

  10. 32 minutes ago, Pop321 said:

    Only a numpty with extra furlough money pays £2.5k for a dog.

    We have experience of good pedigree dogs and spoke to a top breeder (some are mad but others are lovely) to replace our old pedigree dog. With cruft champion lines and even £5k price tags 10 years ago we just wanted advice….she ended up selling one to us purely as a pet (ie no breeding or showing) for £500 because she knew the life we gave to our last dog and was correctly certain we weren’t going to breed or show him. We were grateful but even she said £500 is what you pay for a pet…if you want to show, breed or properly work the dog then the same dog has a different price tag. To be fair it probably enabled her to have some control of the line but also the breeder liked some of the dogs to just go to families. I guess it kept tabs on how well they operate in ‘normal’ circumstances. 

    10 years on we still get birthday cards - and provide them with updates 🤦🏻‍♂️😆

    Price paid is not a measure of quality or true value . 

    Now, as you say…regarding housing  

    Nice story pop321, thanks.

    Reminds me of an old family friend who was sold them their very nice house, because the old dear liked their family, wanted it to go to a nice family and didnt sell it for profit.

    Those days are gone, for now.

  11. 34 minutes ago, Clarky Cat said:

    Just need Help to Buy (Dogs). Government-backed interest-free loan to get a pup of your choice. Only dogs produced by puppy-farmers eligible for the loan.  Supporting hard working families.

    Wouldnt put it past them :lol: 

    I kid you not, I know someone who paid £2500 for one of these, what we used to call, mongerals:

    https://www.pets4homes.co.uk/classifieds/3492105-f1b-cockapoo-ready-to-leave-now-sandy/

    Now you can get them for £500.

    That's pretty stupid and predictable.

    They've not dipped under £500 yet and there are loads for sale mid £1500s now too, not sure who'd buy them.

    Buying stuff when supply is artificially restricted is a bad idea.

    Now, regarding houses....

  12. 42 minutes ago, Just_Do_It said:

    I agree that S24 adds costs to higher rate tax payers, but it's certainly not killed BTL.

    Private landlords still get a tax-credit of 20% of the mortgage interest payments, so it makes no difference to landlords in the 20% tax band.

     

    My maths could be wrong, but even if the poster is a higher rate tax payer the sums still add up:

    Rent/income = 1250, 
    mortgage = 350
    tax-relief = 350 * 20% = 70
    Tax = (1250 - 70) * 40% = 472

    profit: 1250 - 350 - 472 = 428

     

    As I've already stated, I'd be surprised if Jabber fails to continue making money with this.  I believe they've also recently fixed the mortgage for 5 years, so have a decent amount of protection against the mortgage cost rising.

     

    If I had an investment returning £428 a month after tax, then I certainly wouldn't be rushing to sell - and that's for a higher rate tax payer.

    Wny do you bother having so many accounts ? :lol: 

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