Letsdance

Sorry the loan arranger wasn't in but tonto was!!

I am suprised some of you hard line bears don't approach say Syco productions or peter Jones production with a new television program called "HOW LONG CAN YOU LAST??" The production basically is about taking advantage of a HPC like the Krustys and beenys did of HPI. What you do is in the one hour slot on channel 4 is visit say an estate agents, letting agency or financial institution for property for say 1 month (over the next 5 years), if it lasts that long. You document the activity for the camara, warts an all!! This week we are laying of 3 memebrs of staff I had my car repo'd My wife left me for my business partner who moved to panama I attempted sucide etc.etc. You can summarize at the end well given this is a falling market you would have still gone insolvant even if you had not have done anything!! Was it all worth it.

Been down the Estate Agents at lunch time to pay some insurance (insurance brokers as well) and as I walked through the door 5 girls were sitting at the desks one on the phone. I promptly commented "I see your sales boards are certainly filling up now and look at all these reductions." (Did look more than usual) Apart from the lady on the phone, complete uneasy silence.................... When I spoke to the lady dealing with my insurance I again mentioned the quantity of houses for sale and it must be an indication of the times to come. The response from the lady was, "what is the problem and what times are to come." I mentioned the CC and neg equity etc. etc. The response "What is the credit crunch?" (This seemed completely genuine) However not one reaction, agreement, diagreement just total bemusement. Are we missing something up here in the NE.

Ok, done the treble this week IR staying the same Arsenal to win at Boro Hatton to KO mayweather What a week!!

Still don't agree with your reasoning though, this is a time when rates should be on the increase

I have a shop and I must admit it has been increase after increase recently. Good comment this morning from a customer on the price of some old stock parrafin (Sept 07)I had. £1.00 a gallon cheaper than the new stock bought last week. Hence he bought all the old stock. Last year I put my life savings in sledges, however we got no snow and I was left with 300 sledges and 150 snow shovels at £7-99 and £5-99 respectively. However the price of oil has caused the manufacturing of these sledges to rocket (apparently made from plastic pellets which contain an oil product.) The retail prices have now increased a couple of quid however still NO SNOW!! I have a contract with Macgas (BP bottled gas) however, no increase on prices at all this year.

I do BTL on the low end of the market and even though I could at the moment make more with cash in the bank, I don't plan on selling and indeed can confortably ride out a crash as I owe little. The BTL sector will be hit I think at the top end of the market e.g. £200k only making £700 p/m (suicide)

Mean while the Boe is the cavalry who ride in when the going gets tough for the seller. At this moment in time they replace his Smith & wesson with an M16 semi automatic and promptly apply the saftey catch to the buyers colt 45.

Now they are saying (so called money experts) rates could go as low as 4% next xmas. Is this decrease is also passed on will this kick start another HPI

Excellent response and I have forwarded this to him.

Strange but not retarded. All them years with Ofstead

I bet they would stay the same. I think if I showed him your response he may be a bit offended with the retard bit.

Had a good conversation last night with my neighbour over the cut in rates and in the process I lost a tenner. He explained well what do you expect the Boe has done this to keep inflation under control. I promptly corrected him however he scoffed you just lost a tenner thinking you know why the Boe plays with interest rates, you are wrong and the Boe has purely done this to keep inflation down and the ecomony in good shape. He added when inflation drops the rates go up hence why we never saw an increase yesterday. Please help as I could not get through to him, please give me a paragraph (simpletons guide) on the fundamentals behind raising and lowering the rates with ref. to the £, stock markets, wider ecomnomy and the house prices. So frustrating especially when I lost money Thanks

GB: Status, Mr. Darling? AD: Nose diving like a bat out of hell at 5.75%, sir. GB: Reduce to warp factor 5.5% and Steady as she goes, Mr King. MK: Aye aye sir.

Could we follow the Darwins Theory, John that is and maybe look to central America. Maybe GB will be doing the next Reggie Perrin

Personally, I could'nt sleep at night owing this amount even in a rising market

6/4 against a rise this morning Put a tenner on them staying as they are and going up in Feb 08

I know someone who I believe has an IO mortgage on an investment property to the tune of maybe £400k incl. I do believe a remortgage as of last month for a further(200k) as well as a remortgage on his existing property Feb 07 (est 200k) to fund the investment which again will be nodoubt IO. After the last RM turns up in a 100k car. Wonder what will happen here???

All very well shouting for the crash, which is coming/here (delete as appropriate) however what about the wider indirect implications. If trade goes so quiet who is to say you will be in a job next year.

But I am still not selling

No, I never profess to have a clue, I am always learning and a few others on this site should take that approach. Ok, I have £65k in a premium instant access savings account getting 5.6% at the moment. Last interest payment was £700.00 payable per (if think half year). This is still well below the rental yeild. As you can seem from the maint figure I get little hassle. I can see where you are coming from but I see the houses as only part of my long term investments. Lets face it if I had any sort of a clue why would I still be paying into endowments!! Thanks

However, from the yeild point of view, the long term BTL appears to be stupid, hes getting less than if he sold and put the money in the bank. In my niavity I am a bit lost with this, please explain. Use my figures I bought my first house Feb 2002 £15k (40% dep over 10 years), Rent is £300.00 p/m 6 void weeks since purchase. Total costs from accounts for maint. over full period £2k Value of house now £60k I owe about £5 or 6k on mortgage. Thanx

Gee thanx!!

Nowhere near that amount of money could be made in interest every month. I already have savings, ISA, shares, even endowments etc. I am spreading my investments. The houses are only part of my investments.