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House Price Crash Forum


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Posts posted by Velgud

  1. Firstly, I've been an avid reader of this site for a few years now and have loved the general sentiment relative to the nation's ignorant greedy mindset.

    However, these days I can't help but think the majority of people on here are just doom mongers and generally a fairly selfish bunch - sitting on their STR funds waiting for IRs to go up much to the detriment of the population, or HPs to fall - but not for the sake of community benefit, just for their own personal gain, i.e. prices come down and they get a bargain, IRs go up and they get more return on their savings. They'll still buy. They'll still be part of the problem. Just with a 'less worse' investment.

    But honestly..

    It's getting kind of tedious now guys..

    Yes we've all been right, the country is going t1ts up and the property bubble has burst. But what is the end game? What do you all really hope for?

    I used to enjoy coming on here but it's been kind of the same tune day in day out for the the last few years now.

    The reality is, the time most of you have spent on here wishing for an economic crisis, you could have done something positive to significantly better your own personal situations and subsequently had less mental and financial investment in betting on the collapse of society.

    I dunno.. I'm not trolling, it's just all sounding a bit tedious these days.. anyone agree?

    In summary, get a life.


  2. My opinion is you have little chance of selling your business for a shedload.

    I detest the BTL brigade and their clutching mentality too but your plan sounds commercially vindictive and sad for someone who's "not really into money". If you want to be Robin Hood, there might be better ways than destroying the BTL market - why not open a funded institution that teaches people something useful or offers other services for free. That's more altruistic and if the things you offer help people to learn something useful you will have made a constructive contribution. If you come back with a few million in a few years and need ideas, I can help you put something decent together... in the meantime stop being as miserable and mean as the BTL crowd :)

    Now we're getting somewhere...

    The idea here would be to reduce the cost of living (i.e. rent) in a city and therefore make it a more attractive place to live for those wanting to attend such an institution - there is no point in having an institution in a city where people don't want to live. If the cost of living were lower, people would have more money to spend and would generally be happier - the city would be more friendly.

  3. If you are buying with CASH with a VERY long term view, property is always a good investment.

    Borrowing to buy property is how you lose.

    On the other hand, the OP has redinfed the term "count you chickens" to a completely new level.

    Again, you're missing the goal here. The goal is not to make a good long term investment - at least not with regards to the value of the property portfolio. The goal is to destroy the local buy to let empire and continually maintain lower rental prices in the city centre.

    Anyway, staying on topic here. How many properties do you think it would take?

  4. Isn't this the situation the Wilson's found themselves in? ;)

    They bought up every house in a small area and (hopefully!) are seeing rents and values decreasing. With a bit of luck that'll turn out as a not-for-profit business too :P

    No, it's exactly the opposite to the Wilsons.

    Their goal was to raise the value of local properties but the goal in this scenario would be to drive them down.

    Moreover, the goal would simply be to destroy the local buy to let market.

  5. Evening all,

    Throughout the week, I've been pondering on something and thought I'd throw it out there to all you lovely people who share many of my morals.

    I'm currently working on a pretty hot looking dot com startup and we were just chatting about what we'd do if it ever sold for a proper shedload of money.

    I'm not really into money so my response was to give it a go at playing Robin Hood

    My city has about 200k people. A city centre one bed flat is about £550pcm.

    My idea was that if you bought a load of rental properties just in the city centre and rented them out at a non profit rate, then through local press started telling people about your goal of destroying the city's buy to let empire (because it's abhorrently wrong) and ask for some people power, advising them to not rent from other landlords and wait until one of the non profit properties became available, then perhaps you could destroy the local BTL market?

    BTL landlords would lose tenants which would reduce their monthly income, while also seeing their property portfolio dropping in value. They'd be keen to sell but there would be far less buyers as the BTL buyers would drop out the market in fear of this new plot to downwards engineer the property prices.

    Every time a city centre rental property became available, we'd buy it and keep on doing so aggressively.

    On the way down, the BTL drop out numbers would grow and the property portfolio would continue getting cheaper to expand.

    In a city of 200k people, how many properties do you think would need to be bought to get the ball rolling?

    The property value and tenant rental savings would fall and rise respectively on a curve, but I was just wondering if there any smarties out there willing to figure it out?

    I guess it would depend on how much you could stretch the initial lump sum of money you started with, and how much you were prepared to leverage (deposit vs borrowing), but I think it's an interesting concept - hopefully good enough to get a little Friday night banter going :)


  6. In my opinion, class is a combination of two things: intelligence and integrity. I know people living in £2m+ houses driving Bentleys who have neither.

    Also, in the words of John Lennon: a working class hero is someone to be.

    Whoever said that 45k plus makes you upper middle class is nuts, at 3.5x salary, you'd just about afford a 2 bed apartment in a half decent area.

    If you have to work, you are working class.

  7. It's always nice to fulfil someone's dreams, so I'll "regale you" (see - entertainment as well as enlightenment) with some more of my opinions and background. I once spent a few years as the partner of someone who was bisexual, and we shared a house for a some years with someone who was homosexual, and they led an active social life with which I was involved - socially!

    I encountered the high camp, the quiet professional, the aggressively butch, the pathetic, the dignified, the married, the promiscuous, the brilliant and the losers - and at least one very gay priest. The books, the jokes, the excuses, the signals and the manoeuvring - I saw a lot of it. The difference is that this was a long time ago, and quite a lot of people who would now, in the same position, feel able to be open about their sexuality were then constrained by social pressures only to be open in situations where they felt safe. We had then one "house guest" who was respectable most of the time, but came to stay with us from time to time in order to have a week being openly gay before returning to professional respectability in another part of the country. I also had one friend who was madly homophobic, which caused problems.

    Some of the people I met then are still friends or acquaintances. Only one, that I know of, died of AIDS. Only one, that I know of, was drug addict. One of my social circle is gay and seriously in debt, but that has nothing to do with either drink, drugs or tat (though I admit he has a weakness for 1st editions). One is in some danger of becoming a drug addict, but that's a need for painkillers.

    Even now, I think, there must be a lot of "David Laws" out there, terrified that some slip will drag them out of the closet, dismay their families and discomfort their colleagues.

    I'm sorry that Johnny Storm has such a limited social circle, and has such a dismal set of expectations of himself and his friends. Judging by many of the opinions expressed on here, a lot of "single mums" must come under the same general category of "they're nearly all losers," which does not match the experience I have - which is that single mothers, like gay people, come in all flavours.

    I'm mildly entertained by being described as, a "Bleeding heart PC nazi pinko liberal Guardian-reading BBS-Producer luvvie", by someone whose convinced that I vote Labour. I don't, (never have) and am regarded by some of my more left-leaning friends as an unregenerate right-winger - though not, I think, a "nazi". The concept of a nazi luvvie is slightly eye-watering, but then I do appreciate that the author was trying to get in as many derogatory adjectives as possible into one phrase without regard for accuracy or consistency. The nearest I come is my belief that making "holocaust denial" a criminal offence is [1] wrong in principal - free speech doesn't just the freedom to say things you agree with and [2] bad for historical accuracy. I think this (and similar views on "religious hatred" laws) would also get me expelled from the PC club - had I ever been a member.

    I gave up reading the Guardian when two things happened at about the same time: the Araucaria crossword ceased to entertain me and I reached snapping point with their "come the revolution everyone will have their own fondue dish and designer jeans" attitude.

    I long ago worked out that "bleeding heart" means, "concerned about somebody other than themselves," and decided I could live with that.

    I hope you are now suitably entertained.


    in summary:

    blah blah blah.. haven't had c0ck in a while.. blah blah blah blah..

  8. That's why I married a Spanish woman. This country's turned its women into dishonest money grasping harpies who care for none but themselves (and I include my Mother in that condemnation too).

    Bit of a generalisation there mate. My girlfriend is English, debt free (having paid off £500 a month on her credit card for the last 6 months since coming back from working - not 'traveling' in Australia), very careful with money and loves a bargain. Always buys the value and basic versions of food in a supermarket and is no mug to advertising or celebrity culture. Her last purchase was at the weekend where she bought she really nice leather heels in M&S for £7 reduced from £45. On top of all that, she's 10/10 Grade A stunning B)

    That said, I do agree with you.. MOST English birds are typically English.. cold and over valued! but not ALL

  9. Mobility doesn't come into it. Where is everyone going to go?

    Well, 'everyone' isn't going to go anywhere.

    If we assume that 90% of the population will be trapped here due to debt, reliance on a job and with no savings available to just up and leave, there'll only be 10% able to leave. I'd guess they'll go to whatever places are doing less worse.

    You say that mobility doesn't come in to it, but I for one am certainly very happy in the knowledge that I have mobility.

    But back to the original question, where will the wage inflation come from? There currently seems to be only one answer, which is that it will be printed and we'll all end up screwed... good times ahead then! :ph34r:

  10. thats all well and good...IF, you havent borrowed and have a monthly interest payment to make.

    Fail to make THAT payment, and POW....you are on the Road to Bankruptcy.

    reducing prices will help volumes, but will it help PROFITS?...and to make it worse, banks dont seem interested in profits...its turnover they look for...this has happened at Mrs Loos Place....the lenders wanted Increased turnover....they demanded this three times, each time the deals were made better ( for the client)...now the place is packed, the staff are flat out and profits are dwindling....turnover is, however...UP.

    Okay, so then the business goes bankrupt and the business premises are put up for sale, at a lower price because the bank is selling the property as a repo. Someone buys the property at a lower borrowing rate and that saving is passed on to the customers who can now afford to buy chips again.

    Which goes back to the original question: given that the cost of living can only inflate sustainably if there is wage inflation, where is the wage inflation going to come from?

  11. They simply print it out and deposit it in the pensioners bank accounts. They can boost child benefits and JSA to £1000 a second and this will get the money into the economy PDQ.

    But in doing so, they will devalue the £ right? and therefore, given that we import practically everything these days, surely the cost of living will just keep on rising.

    So how will that solve the problem?

  12. You do realise hyperinflationary collapses don't protect the innocent? It wipes everyone out. So by not having lived the lifestyle you still get to feel the pain of paying say £1bn for a loaf of bread.

    It doesn't wipe out 'everyone'. Only those who have chosen to shackle themselves with debt, subsequently rendering themselves immobile.

    As for wage inflation, I think it can be argued the masses over the past decade have had the wage inflation, you might argue prices are now catching up with wages and there will be no increase in wages for some time. Mystic Merv did say we can look forward to a drop in living standards, stagnant wages and increasing prices will deliver that.

    It might be catching up relative to previous years but people have already spent the difference and therefore will be unable to afford this lifestyle 'correction'.

  13. Sorry guys, perhaps I'm missing something here.. perhaps not.

    Many people on here are say that inflation will be brought in to help erode debt but without wage inflation to back it up, everyone will just suffer a higher cost of living.

    But where exactly will this wage inflation come from? The government are cutting spending and axing 1000's of public jobs and private companies are able to hire new staff on lower wages due to the huge demand for employment, and modern technology increasingly permits outsource solutions.

    So who is going to be handing out these pay rises to UK employees?!

    The way I see it - and certainly I'm no economist! - is that interest rates will stay low and the £ will decline as other global economies crash earlier and start picking up, resulting in the cost of living increasing for us because we import practically everything. Or rates will increase and the cost of living (i.e. home/debt ownership) will increase.

    Either way, the cost of living will increase and wages will stay the same.

    I just can't see it going any other way than the majority of working and middle (i.e. working) class citizens getting absolutely ruined over the next 2-3 years.

    Call me twisted, but I'm actually looking forward to all this forthcoming pain and misery - the idiots who bought into this celebrity lifestyle through cheap debt deserve nothing less


  14. In my experience, the majority of students are only in education to continue their mission of being a drunken yob and avoiding employment for a further 3 years. A university these days is more like an 18-30's holiday venue full of chavs getting smashed 5 nights a week.

    In my opinion, there needs to be a greater performance incentive, for example, a rise in the grade the student needs to achieve in order to reach the next year thus increasing the drop out rate and ensuring that those who aren't particularly motivated to learn are forced into employment earlier and with less debt.

    I also think that students who achieve 1st class grades on graduation should get a rebate on their tuition fees which would certainly increase motivation to learn.

    The government needs to do something to reduce the number of 2nd and 3rd class graduates who managed to blag a degree by studying for two weeks prior to their exams.

  15. I can't see a way for this predicament to work itself out in a way that doesn't include significant civil unrest and/or social breakdown.

    It's like I can see the monster coming, and I don't have the foggiest idea what to do about it.

    there's a simple solution,

    1) get free of debt including mortgage (sell up if needs be)

    2) start your own online business which doesn't require a physical location

    3) go wherever you want, whenever you want and watch the sh1t hit the UK fan while sipping a cocktail with your feet in the pool

    I'm looking forward to it :)

  16. I'm currently hiring and on the look out for talented web developers and a few other roles. We have a recruitment service with the local university and have been receiving a lot of CVs through.

    People here have said you need a degree, but from my experience, the only difference between a graduate and a non-graduate is about £20k worth of debt. Their only work experience seems to be cleaning/bar work/fast food/supermarket etc and most of them have spent the last three years out on the p1ss every night while cramming in 3 weeks study at the end.

    Students have a massive over valuation of themselves, think the world owes them a living and seem to be completely off the pace in skills, common sense and streetwise acumen.

    Cream of the crop my ****.

    In fact, we're now looking to outsource for a year or two and in the mean time, visit local schools to try and find the brightest sparks at 16, get them in asap, pay them a small wage and train them up ourselves which we believe will provide both them and us with massive added value.

    Don't get me wrong, I don't want to generalise all students as I'm sure there are plenty of hard workers out there and I know that there are some careers paths which need to start with entirely academic work. However in my opinion this equates to only about 20% leaving the other 80% in a drunken debt filled oblivion.

    If these are the guys that need to pull this country out of the mire, then I'm moving... (well, I'm moving regardless, but this is an added incentive)

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