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House Price Crash Forum


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About pandabear

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  1. By the way 'old timers', I'm calling the crash. (Do we still play that game?)
  2. Check out the The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020. It looks like a whole heap of old, dodgy rentals will need to be either updated or shifted pretty sharpish. In summary, starting the 1st April 2020 new tenancies must be electrically safe, with a year given to existing tenancies (as i read it). The penalties (or incentives) are pretty brutal at up to £30k and 28 days to remedy. Way past time electrics were looked at as seriously as Gas is in rented properties.
  3. It seems peculiar that on the one hand Local Government is prevented from building Social (Council) housing whilst Central Government is slowly becoming a significant holder of new build property assets through Help to Buy. Worse still, Central seems to own the most vulnerable (top slice) of the value. One wonders how much of the shortfall in Council homes is offset by the Help To Buy? Doubtless, HTB will be rolled over and over. Banks will not want to extend mortgages after 5 years on a property which is no longer worth what was paid. Forcing owners, sorry voters, to repay would be politically very unpopular. Of course the deal could be extended to allow an "owner" to use HTB each time a new property is purchased, further diluting their share whilst increasing Central's obligation. It's all looking a bit PONZI again.
  4. Which is pretty much what the second paragraph in my response said in fewer words....
  5. Good find. I always felt the whole concept of QE going direct to the banks being a confused method when it could be distributed amongst the population and gain much the same effect. It's pleasing to see a think tank actually looking at it and supporting the premise with statistical evidence. Sadly the real problem is the establishment. Why share the benefits amongst the people when we can keep it all ourselves....
  6. An excellent short statement from an old Gent elucidating how the deal between our leaders and the people has been betrayed. Well done you sir!
  7. So the land of the free makes its own children slaves?
  8. It's because you gave them your money and they promised to return "IT" to you. But the years have provided many excuses not to, and you signed a contract which didn't absolutely state how much "IT" was. Sorry but their actuaries seem to make up a number slightly over base rate based on the assumption that: If you live to 110, then you will probably have reclaimed all of the money deposited with us. We do not gain any interest on the capital we hold for you over you retirement, if we did you might just want more than we offer. If you die before we return all you deposited with us, we keep it. You believe it is fair!
  9. Thanks all. Oddly enough i found this through a reference on the BBC website about mortgage fraud. You'll never guess who was my "first"... ERIC Sorry, couldn't resist...
  10. Respect to you my friend! Life sometimes bowls us a few googlies, but i for one would not like to revisit the last few years of life, neither being a carer or fighting an apparently insane sibling over dividing an estate. I've the skills and tools to rewire and replumb it, and frankly i quite enjoy it! The futures optimistic, but i just can't help but remember my grandparents saying of "never a borrower nor a lender be". Just backdated i guess!
  11. Well folks, thanks for all the information and advice over the years. I've been a member for almost 7 years, a lurker for almost 10 and without it i would have felt totally isolated as i watched house prices increase by more than my annual salary year after year in the past decade. Worryingly it seems to be happening again. I was able through old classic posters like CGNAO, shift my dear late mother's finances in the week before Lehmans and have upset more people than i care to remember protesting about the house prices. Yet still, the prices confound my logic. I've bought. It wasn't really a choice, had I not done, I would have lost the roof over my head. I had to purchase my late Mother's house from her estate (at market value, cheers bro'!). Managed to get a fantastic rate on a 5 year fix, good but tired house in a good area etc. Needs a lot of work but looking forward to it. But why is it, despite speaking to an exciting Uncle about house prices earlier, i just keep sh!tting myself about the size of the mortgage and the likely hike in interest rates? Take care good people, I'll still lurk, and still believe! At some point this purchase will likely come back and bite me on my backside, but it's warm dry and more importantly home!
  12. Little people are not meant to understand finance. Period! Imagine what would happen if everyone understood percentages? Would you ever borrow from the banks? I think not! There's a reason usury is still, quite rightly, frowned upon in some quarters.
  13. Without a shadow of a doubt, this is the most impressive action against House Prices ever!!! Laugh, I almost leaked...
  14. Erm, can i suggest we look a little closer to home? Teachers are assessed annually and can be dismissed for not making "the grade". Gove loves it and now wants at least half of teachers to be told they are not good enough each and every year.
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