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House Price Crash Forum


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About Arth

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    HPC Poster
  1. Your hard facts ignore the effect of gearing - you can borrow money to buy property, but not to buy shares, and, again, the fact that rents inexorably rise with inflation, resulting in a monthly deficit rather than a monthly surplus which will eventually deplete any capital you have accumulated in earlier years. If you have a lump sum and are making a choice between buying a house and sitting on it for twenty years or putting the cash into shares, then, yes, it may be that at the end of the period the investment in shares would have proved more lucrative (although your link didn't seem to tak
  2. Why didn't you respond in this, cartoonishly, angry way to posts that purported to show that renting was a better long-term option than buying?
  3. I don't have time to do the, detailed calculations, but taking the period 1990-2010 for a two bedroomed house in a decent area of Leeds, using actual figures , the purchase price in 1990 would have been in the region of £40,000. The monthly rental £260. At the high interest rates of the time, and allowing for running repairs, insurance etc. the cost of ownership would have been say £400 a month. Giving a saving of £140 per month by renting. In 2010 renting that property would cost in the region of £650 a month. The mortgage debt (assuming interest only) is still £40,000. If we leave the m
  4. The mistake that people make when comparing the long-term cost of renting vs. buying is ignoring the fact that the mortgage debt remains the same or decreases while rent rises inexorably with inflation - the long-term trend is 6%-7% p.a. At this rate the £12000 p.a. saving quoted in earlier posts is constantly decreasing and turns into a loss after about 10-14 years. I am not saying that buying rather than renting is a good move at the moment - I believe that property prices have along way to fall yet and there are numerous renting bargain"anomalies" available. However, I would say that a
  5. I've not been around LS6/LS4 recently, but the last time I was there were adverts for rooms/houses to let everywhere I looked, so I think that maybe your assertion regarding voids is a bit optimistic. You also need to take into account the new Opal development behind the Merrion Centre which has 24 floors of student flats and the massive development on Woodhouse Lane. For a long time, with increasing student numbers and little or no increase in available accommodation BTL in a student area was a safe-ish investment, however, with the massive growth in available accommodation and every econom
  6. The site IS being censored: try putting "g.l.o.b.a.lhousepricecrash.com" without all the dots at the start into a post and see what happens to it.
  7. You are verging on tin-foil headgear. Like it or not, the credibility of this site is determined by all the posts on its forums (no doubt some pedantic buffoon will insist that it's "fora"...). There are many sensible, informative posts regarding house prices and the general economy, however stuff like paranoid "the government is watching us all and trying to control our minds...", xenophobic "it's all the fault of Polish immigrants..." and right of Daily Mail reader "lesbian muslim single mother gets ten thousand a month and a chauffeur driven Jag to take her to the mosque..." threads under
  8. Oh my God. What's the next BBC expose? Electoral Roll details are freely avaiable? You can get details of Births, Marriages and Deaths? You can get Probate details? George Best liked a drink? Details of the registered keeper of a vehicle have been freely available to anyone showing reasonable cause to know them since at the latest 1974/5 when they were computerised at DVLA. "Possible witness to road traffic accident" is accepted as reasonable cause. As for criminals using the service to target vehicles, let's think, shall I get the details sent to an address where I can pick them up, d
  9. A significant part of the reason behind the difference between quoted 10-15% falls recorded during the last crash and the reality of property prices falling by c 30% was one of timing: property prices peaked at at different time and reached their lowest point at a different time. In 1989, when prices had stabilised or were starting to fall in London and the South East, prices were rising sharply further North. By the time prices had peaked in the North and had started to fall, South East prices had stabilised. e,g, I moved from London to Leeds in 1987. At the peak the house I sold in Londo
  10. MBNA are deep in the mire. The vast majority of their lending is funded by securitisation. There is every likelihood that the market for securitised credit card debt will implode even more quickly than the one for MBSs once arrears start rising. And rise they will: rapidly. Apart from the declining economy, over the last few years, a lot of credit card debts that would otherwise have gone unpaid have been settled by people MEWing. It doesn't take a rocket scientist to work out what's going to happen now that MEWing isn't an option... EDIT: typos
  11. Draw accepted, but as you started it I think maybe away goals should count double.
  12. "With spelling like that I can understand" reads a lot better with a comma after "that".
  13. My typing may not be the best, buta t least I understand the use of the comma.
  14. Taking delight at the misfortune of others is never less than ugly. Unfortunately, it IS becoming all too common on this site While there have in the past been reasoned, intelligent, arguments presented and while there continue to be posts linking to housing-related articles I might otherwise have missed, the site does of late seem to have descended to a "look at this muppet who bought a house" / "it's all thr fault of immigrants" level. In the past I've deliberately directed people towards the site. Now, to be honest, I'm too embarrased to.
  15. Reading the original post, I was wondering what sort of hovel this was. The current bid of 105K takes it back to 2002 prices. Houses in this road have sold for 185K+. I agree that it's not worth anywhere near the 200k quoted in the ad., but 105K is not an unreasonable real bid.
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