isoprene

Well since 1996 I've moved 3 times and have just sold my third house recently. Each house I bought needed renovation, which I did whilst I was working full time. Let me tell you that, its not funny having to plaster yet another wall after spending 8 hours in work!. Hard work, yes. But now I'm completely debt free and renting. I've also got a decent sum of money in the bank to build upon when the cycle restarts and property is 3-4 times wages again, ie sensible. I'm convinced there will be a return to the norm, but as noted, it will be because of a variety of factors, not just IR. I may well be wrong and house prices become stagnant whist wages increase. But from what I've read, its in the interests of the financial services to 'pump' the economy. It makes them huge profits and transfers weath from the masses to them. The VI spin this time around has been unprecedented! I'm sure the financial services will benefit from a crash, to gain on the way back up again. For the record, I'm sticking to my convictions and waiting for a correction in the market and renting. Love you loads Isoprene

Excellent article. I'm saving a copy of this for future reference. Well done.

Traditionally, landlords used to be a breed apart, but everyone and their dog is in property investment nowerdays. The media's got a lot to do with this. Maybe because of the dot-coms crashing so people shifted to property investment instead. I am just about to exchange on a property I've been renovating for the last 10 months. I like to think I'm not one of the ones pushing up property prices, but who knows. (Bought a wreck, gutted it, spend £12k on reno, all work done myself, now selling for double purchase cost.) I think its the economy and the way peoples brains work (bull/bear market thinking) that pushes up prices. (FYI I'm a market bear, I want to see it all corrected, though after I sell of course. ) Pretty much everyone wants to become rich by doing very little. This is why, when the stock/property market starts to go up, more people buy into it, pushing it up even more hoping for a quick buck. Its self-perpetuating. Sheep mentality! I think theres some hidden agenda with the powers in charge. Shouldn't interest rates be higher to promote saving, kerb personal debt and provide cheaper housing, (High IR means lower mortgage limits and therefore lower property prices, I think). Theres nothing I've said here that hasn't been said before. If you wanted to lock people into working their guts out, promote personal debt (good for our biggest service sector - the financial services) and make people feel insecure and controllable... would'nt lowering interest rates do the trick? Just a thought...

IMO, a 60% drop isnt going to happen, but I have been wondering when the 'crash' will come. According to history, whenever house prices have bubbled, they have ALWAYS popped some time afterwards. The bulls will say 'it wont happen this time', and the bears will say 'just wait for history to repeat itself, again!'. From what I've read in books like 'The grip of death' and seen in documentries like 'The money masters', its the banks that create these crashes, whenever they feel the need to. For example, the banks actually created the depression in america in the thirties by contracting the money supply. They are powerfull, and anyone who has debts is under their control and they like to keep it that way. What is the trigger for a crash? Unemployment, consumer confidence (ie. willingness to spend on credit cards) or a slowdown in the economy? I think its the banks at work, but who knows. House prices are at the highest multiple of earnings since forever, and I'm sure somethings going to hit the fan soon.

LOL. Thats the best advice I've ever heard! Awesome!

Yeah I watched that too. I've seen the polystyrene system before. Did he say something about it being 2.5x stronger and 1.5x more insulating than a equivalent block wall. I think its a great invention, as I've just finished a 'monster' build of an extension myself. Blocking is a whole world of pissyness, and to think, using the poly system I could have built the structure up in a day, and filled it the next. Bit dodgy of him to fill it in one go though. Thats a hell of a lot of weight in concrete, I thought it would never take it, and it did blow in one place. I remember when I made some channels out of plywood to get ready-mixed concrete from one end of the house to other. The operator sent it down too fast and it piled up halfway and blew the sides of my channel out. Bloody concrete was all over the place, we were wading through it in the middle of the house... what a mess! Seriously thinking of using that poly system to build my dream home... Hmmmmm

Voted 5-10 years, if i was just spending my savings. Wow thats a temping thought! I'd could spend all day playing my guitar, smoking, eatin frozen kebabs and pizza and drinking cans of guinness, I'd be well happy! Prob wouldn't live very long though. Or, become a Bhuddist and spend even less cash, whilst contemplating the mysteries of your inner self and attaining enlightenment... rice anyone?

You dont have to inform the building inspector or get a Part-P certified electrician in to inspect and test if; You are are not doing works in a kitchen, bathroom or other desgnaited area You are only changing socket outlets, light fittings/switches. For a fuller explanation go here IEE Part-P link Its a total con! I have 20 years of electronics/electrics experience, have rewired plenty of houses but I cannot even add a new circuit or do any electrical work without some 'competent person' checking it after me!!! I would'nt mind spending the £1000 it costs to get Part-P certified or the £500 for testing equipment. What makes me mad, is that you have to pay EVERY YEAR to stay a member of the NICEIA or whoever you done the course with. Its a money making scam! If its not a scam, why cant I just do the course once and be done with it, once and for all, like the C&G courses. Why, because these bas****s want you to pay them every single year just like CORGI. :angry: Rant over...

Havent watched property Ladder in a while but I am amazed at the same mistakes being made over again. 1. Developers getting emotionally attched to the project; For instance, the wife/girlfriend (the couple) thought that by using her 'design' skills she could make the property worth more (maybe) and 'put her stamp' on the house. WTF are they thinking? Does she believe she is she some kind of uber architect/designer or what? Its just a pile of bricks and timber. All you need to do, is a simple renovation, with a quality finish. 2. Developers cutting corners to save money thinking that bad finishes won't be noticed; Actually I can sympathise with the bloke who was doing up the bungalow. My first renovation was like his. I thought I could do-it-up for little money, but my finishes were a touch dodgy and it took way way longer than I anticipated. Last reno was sweet though, really nice finish on the property and achieved top price at the time. Maybe he can learn from this one and understand that a top finish is really important. Grrrr, my SKY receiver signal died halfway through because of heavy rain. :angry: Good to be back folks... I love you long time.

Absolutely right! People who can't handle money and spend it on crap wouldn't be better off after winning a million because it would fritter away slowly on 'essential purchases'. I did play the scratchcards for a time once, always made back what I had spent on them, then one day I won £20 so I stopped playing it and kept my winnings. IMHO you've got to use your head and work to get rich. Winning it, stealing it, or inheriting it just aint gonna happen. I know someones gonna win it, but at a 14 million to 1 chance, it sure as hell aint gonna be you. (Excuse the bad grammer... like!)

Fair point but he said that he went to uni because of pressure from parents (to succeed etc) and wanting to experience the student life. When my mate told me how much he could earn as a doctor of chemistry I couldn't believe it! All that money and studying for £16K. Crap!

A 27 yr old friend of mine who is now a doctor of chemistry has realised how he has been conned, and summed it up beautifully... "After all these years of studying, and all the time and expense in getting my Phd, I am just a more expensive and more skilled gear in the same economic machine." Says it all really.

I agree, the general public who, bless em, are as mad as a bus, helped increase prices by panicing and buying property before 'its too late and we'll never be able to afford one'. Result, high demand, higher prices, which is exactly as it should be in a free market. In my humble opinion of course...

Well I don't know about house boats but I have seriously considered buying a piece of land and sticking a caravan on it to live in. Two problems I can forsee: 1. The price of land is also high so I would be buying overpriced land. 2. The welsh valleys are quite hilly, its hard to find a piece of level land around these parts.

LOL, you've ben reading 'The grip of death', yeah? I'm halfway through it, bloody excellent book, a real eye-opener. I thought I understood the economy until I started reading this. If everybody saved and bought with cash the economy would collapse, but of course, you already knew that.

Here in south Wales, the prices have been holding up. In the valleys, three friends of mine, who were all looking to buy a house, couldn't because the morgage lender woudn't allow them to borrow £70,000 (average) to buy the property. Wages here are not that great, with price-to-earnings being about 4.5 to 5x. Theres been a lot of Persimmon/Redrow/Barret building activity around here. Building cardboard shoebox homes on plastic estates for FTBers, as all the decent homes are too expensive for them. I STR a year ago so I could develop houses, for FTBers, but I wouldn't buy a nice house today, not with these prices. I'll sit it out, earn a living, and buy when the prices have corrected. IMO, (With my basic knowledge of economics), this debt-fuelled society seems to pump the economy harder and faster than ever before. It seems that a correction and recession is inevitable, it's just part of the debt culture that the U.K, USA etc has gotten itself into. Any comments...

Three local companies closing down, never seen anything like it! I worked on job experience here! http://news.bbc.co.uk/1/hi/wales/2804781.stm Never liked working in Sonys. http://news.bbc.co.uk/1/hi/wales/4632931.stm Another company thats been here for like, forever, now closing. http://newswww.bbc.net.uk/2/hi/uk_news/wales/4639755.stm Sony may say that they cannot build plasma screens here, but it's just an excuse to get out of Wales. They were probably subsidised by the local council anyway, just to keep jobs here. (Haven't posted for a while, I escaped from the looney bus on a day trip, I'm typing this in an internet cafe. Keep up the good work people)

I'm renovating a property right now, my third. I too suspect most of my profit from the previous two where due to the HPI, but the one I am working on now (4 months so far), I expect to make a good profit off it. I bought it at the tail-end of last year at 40% of the price it would fetch when renovated to the standard of similar properties in the same street. After renovation and paperwork costs I should be looking at a 75% (or is that x1.75?) return on invested capital. My labour costs are low because, well modesty aside, I am very good with my hands in all areas of house renovation, ahem. On my first two properties thats exactly what I thought. Work like a demon 'to save labour costs' and you can make a mint - wrong. It's not about working hard, its about working smart. That first property took me three years to renovate. I had to work full time too! Property has an expensive learning curve! I shake my head in amazement with amateur buy-to-sellers who pick up a property, get expensive workmen in for most of the jobs, go 2x or 3x over budget and time, then declare that they made a 'profit' of a couple of thou. Of course after taking out living expenses they are actually down. For the record, I am a total bear, although I do hope the crash holds off long enough for me to sell the property for a decent price. I'll be selling soon so I'll let you know the outcome and figures when it all goes through, if it goes through!!! Following this site has made me aware to the perils of listening to the media. I will take great care when buying my next property renovation project. This site has got me spooked. Keep up the good work fellas. And babes .

I appologise for my language ladies, but what that susiecam needs is a right good sha@@ing up the ar5e by some steriod pumped 25 stone Gengus Karn type. What an uptight, self important c@w. Grrrr :angry:

I don't believe this!!! My threads got deleted because I gave advice to a member regarding whether he should get a buyer for his house before looking to purchase another. Heres the thread with my posts removed: C4 home link I told the guy that maybe before buying another property he could sell up and rent for a while because its a buyers market as the boom is now over. I got flamed by susiecam and you can see her raves on the remaining posts. The really great thing is that the member agreed with me that it would be a good idea to rent, but it would be too much hassle, but thanks anyway. One nil to HPC forum I think. Obviously someone didn't like my sound business-minded suggestions and wiped my posts out. Just got an email from the C4 admins: Dear isoprene, The site administrators have removed your access rights: The forums are provided for user to user discussion, not for individuals or groups to spread their 'message'. I have replied to the email defending myself. Really sad isn't it?

Nuh Nuh Nuh Nuh Nineteen, Nineteen... LMAO... superb!

That is un-f@@@ing believable!!!! Typical council scum accepting any old quote for contract work. Half a million! What did they cover the roof with... platinum tiles and gold flashing??? I remember a local newspaper story that the council paid contracters £24000 to install a cattle grid on a quiet local single carriageway road. That's aour tax thats being wasted. Crazy.

Apart from holiday costs, I'd say that more money is spent on bills etc in the autumn than in summer. ie the colder months. Therefore after the summer, money will be tighter and maybe vendors will start lowering prices because they cannot meet their mortgage repayments. Just a thought...

I knew I shouldn't have missed all those Ray Mears episodes. Fed up with the material world (cos I'm a not a material... boy), I have actually considered how living like Robinson Crusoe would make me seriously happy. No more money obsession, bills to pay, women to impress, just a constant search for food. I would miss a Budweiser now and again though.