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House Price Crash Forum


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  1. What I mean't was that BTLers would sell up(if they can) and re-invest. I didn't realise I had to state the obvious.
  2. Does anyone think that BTLers will move their money into savings accounts, seeing as of late the financial institutions appear to be trying to out do each other with higher rates. These rates seem a better return than what BTLers are getting on rent (from reading on this site). Of course there are other investment vehicles but I wonder how much of an influence this will have? It's just a thought because if this did happen, then it would help our VI of an HPC.
  3. I suppose we could look at things simply. Firstly, this site saw the signs of change for a down turn last year in particular, especially re: sub-prime affecting house prices but not one newspaper or the TV (VIs) reported this, for their own selfish reasons. They kept talking the markets up and even Joe Bloggs - who doesn't know much about this kind of stuff - said 'yeh, it's up, up and up'. Secondly, this year, we have started to hear about the above, and the VI's couldn't hide it any longer so they had to write and report it. The market forces are bigger than any VI but joe Bloggs still doesn't get it! Thirdly, we are now seeing TV programmes dedicated to house prices going down and debt but Joe Bloggs doesn't want to listen. Don't let Joe Bloggs fool you, with his property purchase, new car etc., just keep an eye on all the fundamentals. Now but slowly the signs are there for a good downturn. I remember during the 80's when the market was about to turn down and Joe Bloggs was rushing to get on property ladder because he thought house prices could only go up. Once the downturn began the TV programmes started dedicating themselves to house prices going down and debt (just like is happening now). As the market got worse so did the programmes. Interviewing people about their repossessions and negative equity. Some people (the Joe bloggs') were so shocked that house prices went down and swore they would never buy a house again. I am really not affected at all by anyone who is buying a property just now. In fact I find it amusing. I don't even buy the reasoning of 'I'm in it for the long term' because why pay more now. I'd rather pay less in the future and be 'in it for the long term'. I see houses that I'd love to buy now and at the time I think it's perfect but my common sense kicks in and I resist, only to find 6 months later I can't remember why I was so bothered about 'the house' because I've just seen another one...It's the pull of wanting to be on the property ladder... Anyway, as others have pointed out all markets go in cycles and I'm watching and waiting.
  4. Yes, I agree with you about the re-working code. It can save time and obviously if the code is understood the programmer would know exactly what to do. I was one of the students on the course at the time I made my 'jokes' about and even I could spot the cheats. Most undergraduates code would not be neatly written etc. But one particular student's code was perfectly written (and they weren't one of the genius'). Some of us were discussing afterwards the 'sticking point' in the code we wrote and how we overcame it but this cheating student sat there silent. So I purposely questioned them about 3-4 lines of code and they couldn't answer even after listening to the discussion!!! Another way that the cheats were ousted, was that on some of the 'modules' two exams were taken instead of one exam and one piece of coursework. The cheats were failing left, right and centre on C and Database Theory because the Lecturers of those modules chose to do it that way. I spoke to the Database Lecturer as they wanted feedback (being the first year it had been introduced) and I told them exactly what I thought and how it eliminated cheats. It is sometimes argued that some people are better at exams than others. Well maybe a little? In my opinion it is a true lack of studying and understanding of what you're doing that causes failure in exams. I had no experience of exam taking before going to University but I worked along the lines of: if I understand what I am doing then I can 'think on my feet' and answer any question. I genuinely think that people need to be taught 'how to learn'. On a slight tangent, a friend of mine used to work as a Contractor earning #70 per hour because they were taken on to undo the bad coding by other employees/contractors. The normal rate for contractors at the time was #35 per hour but this friend only took on the heavy duty mess and worked for no longer than 2 weeks for any company at a time.
  5. Here's a good few IT jokes but true: -Ever heard of the IT Graduate that admitted to not knowing what a 'variable' was? Answer: I have. -Ever heard of the IT Graduate that nicked code off the Internet for their course work? Answer: I have. -Ever heard of the IT Graduates that got one of the few top IT talents in the year to do their C programming for them re: coursework assignment? Answer: I have. -Ever heard of the IT Graduate that couldn't understand Difference in Set Theory and wanted to work on Databases? Answer: I have. -Ever heard of any IT Graduates actually doing their own work? Answer: I have, about 10 from a group of Graduates. These were all from the same university and yes many thought they were good enough to get jobs and do well. I am not surprised by some of the comments I have read, especially about those that can write code well and make it work properly in a real environment. because from what I saw at university I feel sorry for the employers having to sort the very, very few good from the bad.
  6. There have been many adverts on TV over the years encouraging pensioners to 'release equity' from their property. That won't be a good thing for them at their time of life if the loans are called in, and the knock on effects could wipe out a good chunk of inheritance for their offspring? Although people have been finding their credit cards limits slashed, can the banks call in the limits on these too, especially if the limits have been used? I mean the banks are getting desperate and are only out for themselves.
  7. Let's hope the law suits gather pace. It never ceases to amaze me how people will lie 'all the way to the bank' or to the court in this case. '...A major US real estate appraisal company was accused on Thursday of conspiring with one of the country’s biggest banks to inflate home prices in a scheme that New York state officials said helped fuel the mortgage crisis. Andrew Cuomo, New York attorney-general, filed a lawsuit against First American saying its eAppraiseIT subsidiary gave in to pressure from Washington Mutual, the biggest savings and loans group in the US, to use a preferred list of appraisers who allegedly provided inflated values for homes... ...First American said the complaint was based on a few emails taken out of context and “has no foundation in fact or law”. http://www.ft.com/cms/s/0/1a339b84-88c2-11...00779fd2ac.html
  8. This link has the kind of write up about the US financial system/mortgages that 'they' don't want us to think about. Here's a snippet: '..The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates. The real problem is the contractual ability of investors in mortgage bonds to require banks to buy back the loans at face value if there was fraud in the origination process. And, to be sure, fraud is everywhere. It's in the loan application documents, and it's in the appraisals. There are e-mails and memos floating around showing that many people in banks, investment banks and appraisal companies — all the way up to senior management — knew about it...' http://www.sandersresearch.com/index.php?o...&Itemid=104
  9. A very good read, which I agree with. I posted this link in another thread www.zeitgeist.com It's film all about people control. Starts with religion as the initial form of control and moves onto the way debt is used by the super rich few to control the masses. It's mostly about USA and how the Fed Reserve came to fruition through greed.
  10. Debt is the new religion. Keeping people in debt keeps them under control, while our rights are eroded. why should the fat-cats high up in the banks be protected. why should other businesses go under when bad decisions are made but not banks! Here is a link to a very interesting film www.zeitgeist.com This film shows how the USA's top rich families used their money to control poor people and then kept them in debt so they could make more money themselves. in fact it states that the Federal Reserve us privatel owned?
  11. I used to be a Spot Forex Trader and i got a huge amount of 'stick' from my male colleagues because of being female. I had a couple of female friends that we stunning to look at and they traded in the Bond market. Men generally, are extremely shallow and so are these kind of women. These friends of mine used to 'bed' their way up the promotion scale. They used to get information out of these guys when they were training and use it to get on in their jobs. Every girl working in the back-office was always after a Trader for a boyfriend - the back-up guys didn't stand a chance. I stayed very true to myself at the cost of being told to 'f*** *ff' all the time and given no training or any info but i managed it by sneaking in some evening classes. None of these city types would talk to me when i went out with these 2 friends of mine. To be honest, I didn't care, I just loved my job and I learned the hard way. Moving on in time i got myself a BSc in Software Engineering. Had some interviews, even passing on the spot programming tests but still not offered a job. Why? In my opinion, the IT industry is male dominated and in some cases (graduates) youth oriented. No one would take on a newbie graduate, female and middle aged So much for the shortage in the IT industry! To add insult to injury a lot of my younger colleagues at uni, cheated to get their Degrees and then got jobs. There was one 'Graduate' who was struggling with some Database stuff, so i helped them get their last assignment finished . After this was done they turned and said to me, 'Phew that was close but I still don't understand what a 'variable' is.' I was utterly gob-smacked!!! This was an end of 3rd year student hoping to graduate. I have been writing some software in the meantime and hopefully it may be enough for a portfolio to take to an eventual employer. So not all women are after men for money and I enjoy working hard. I actually have to control my partner's spending habits as he's the one that likes to buy tat. I have noticed though that 'nedettes' don't usually go for men because of their money. So there's a whole social strata of females out there for you guys that don't want 'gold diggers'
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