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House Price Crash Forum


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Everything posted by needle

  1. Excuse me. Im gonna sound like some socalist hippy here but nevermind..... Didnt entering the pension scheme deomonstrate a "responsibility for their own futures"? These companies entered into a contract with their employees to provide pension fund contributions. Over the years they failed to invest their share into the funds - keeping the money for other purposes and piling up credits. How the f**k can these companies after 25 years of record stockmarket growth - that they decided not to invest in on behalf of their employees - turn around and pull the schemes? This is absolutely outrageous. The people who made these decisions should be prosecuted and the directors and shareholders made personally liable. If one of the employees suddenly decided not to honour their contract what do you think would happen? And now what? I have to pay higher taxes to fund this? F**k that. Do you reckon the directors are losing their pensions? Why the hell am I feathering the nests of people who set out to deceive, manipulate and steal? By paying into a scheme they limited their life choices, kept inflation down and made the country more competitive (therefore increasing the value for the shareholders). Now, at retirement age, they get it in the ass and I get to pay the bill for the next 30 years? I dont f**king think so. Rant over. (Exit stage left)
  2. Vicky, Love it babe. Keep it coming darling. Big up the 2ndopinion massive! Wanna make a movie? I got a transit and a camcorder
  3. Why buy US debt? - cause GB wants to. Just like he sold the Gold reserves a few years ago for next to nothing. Now he's buying Debt from the most highly indebted nation on earth.
  4. Its very, very stagnant here in Alty. Some houses on the market for over 18 months and reductions are only starting to come through now. Very large variation in what you can get for a set price. Some agents have 3 bed terraces at 250k-ish others have larger semi's at the same price. Large 3/4 bed detached houses are coming down from 350-400k to the 275-325k. There is no set pattern, its still a bit confused, but I see a very stagnant market. That said, realistically priced houses are selling surprisingly quickly. (*realistically priced in relation to similar houses, not in historical terms)
  5. Apparently the shops have cut down on stocks, expecting a slow Christmas. The logic behind this is that even with slow seasonal sales they wont have a large hangover of stock and be forced to slash prices in the sales. Thus giving the "wait for the sales" customers a black eye. Pretty smart, huh? Of course it also means with lower stocks they will have less to sell and therefore will make less. Expect dismal numbers in the new year regardless. And as for a strategy that shafts their customers? As soon as Halfords, PC World, Dixons et al go to the wall...well it cant be soon enough for me.
  6. I assume you mean "there" instead of "their". And vice versa. natch.
  7. House prices in Ireland have been over the top for quite some time now. Most young people have no idea what type of mortgage they are on (IO, repayment) or what the rate is. Anecdotally, I spoke to a group of about 10 lads about debt in Ireland. They told me that all of them spent more than they earned because "you have to, to keep up". Another told me that he had to earn nearly E2000 per month before he started eating (mortgage and childcare costs). Yet another revealed that he had a mortgage and 25k on credit cards. I knew it was bad, but what I found was genuinely frightening.
  8. http://www.rightmove.co.uk/viewdetails-850...pa_n=1&tr_t=buy Say no more....
  9. Nuclear power (while I personally agree with it) is a red herring. If oil "runs out" we will also lack the products derived from it - plastics in particular. Think also about oranges, brocolli and all the other vegetables shipped in from abroad. The cost of doing so will become prohibitive. There is much more at stake than going for a drive on a Sunday afternoon.
  10. Some good points, but oil is still running out. I'd give it 7 years before a monumental shock. Best policy - imho - conservation. Lagging, turn off lights, insulation, etc...
  11. ...but they are the owners. They have complete control.
  12. An elected official should not be allowed any possessions at all. On election all assets should be handed into a trust - out of their control. They should not be permitted to earn more than an MPs salary for the rest of their lives. Would sort the chaff from the wheat. Maybe get us some statesmen instead of more politicians. Further, shareholders of companies should be made liable for the actions and debts of their companies - watch how quickly WorldCom fraud, Train crashes, Enron, Sky/Murdoch control-freakery, pension shortages, sexual harrassment, nepotism would vanish overnight. Currently shareholders have no vested interest in anything except profit.
  13. Devils Advocate here... Dont forget the massive influx of immigrants. Last year 500k+. All need to be housed somewhere - this implies that BTL's are a better bet than private homes. I dont believe in a "crash" anymore. I have become a "stag" - I see stagnation and a long, slow gradual decline. A long slow decline in everything. Jobs, sterling, manufacturing...the lot over the next 10 years. A long and protracted decline in "western" (and indeed global) economies is the way to go. (A fall in sterling will increase inflation and mitigate any HPC anyway.) But, again, a HPC is only a symptom its not the actual problem.
  14. "A house is for nesting, not investing." As for myself, I'm gonna wait. Prices in the NW are not going up as far as I can see....but I'm no expert and may be wrong. If you and your better half are happy, have taken professional advice and are comfortable with the repayments then let me be the first to wish you the best of luck. I'll be round for tea, first saturday after you buy. 'Bout 5:30. Milk. No sugar.
  15. Move your face and hands when speaking. Also modulate (change up and down) your voice. That is - use movements to animate your points - dont gurn or wave your arms about - just dont sit still. If you sit too still you will come across as boring. Remember, people will be seeing your face greatly enlarged (the size of a TV screen) and will look for cues there. Watch the news readers, how they move their heads slightly to catch attention and add emphasis. OPbviously if you move too much you'll be out of shot so....just practice. And good luck!
  16. Why all the power cuts? Hertfordshire, West Sussex, Sheffield..... Anyone wanna open a book on "where next"?
  17. The ass has fallen out of the market here - the higher priced houses are not selling (despite "Apollo1966s" rantings). This could account for the drop in average values. More smaller terraces selling which is prob dropping the "average price. Nobody is paying anything above 249k (tax threshold) for average houses. There are houses in Sale Altrincham and Timperley that have been sitting on the market since April 2004.
  18. If this appears in the Torygraph we are truely ****. btw - ive held off on posting this for a while but just to add to the despair - I was told the other day that France is in "deep, deep trouble". Who told me? ....A French diplomat.
  19. I got as far as the audio clips..but I didnt have the speakers plugged in..
  20. Ehhhh...nobody....thats the whole point of my arguement. Nobody benefits. Read the threads about people moving to Dollars or Yen or Dinari or whatever. They were trying to preserve the value of their money. (Remember we're assuming a big drop in sterling here.) Affordability will remain at or near current levels. Further, companies listed on the UK FTSE, who make most of their income abroad will see a "rise" in their share price. Denominated in sterling, they will "hold" value as sterling drops - therefore will "rise" in value. Thus, It is entirely possible that the stock market will rise, house prices stay the same and manufacturing employment increase - and all the while the **** is falling out of sterling. Indeed this could happen because sterling is falling.
  21. Thats exactly my point. House prices will fall but will not become more affordable. Thus, people waiting for a crash (a majority on this board?) will not benefit in any way. People laugh at the suggestion that "its different this time". Implicit in this suggestion is the idea that, things being the same as last time, they can ride in and pick up a bargain. This scenario also catches out the bears and the STRs. From the governments point of view everybody loses, buyers and sellers, but everyone loses equally so the status quo remains. The crazy idea that people can just sit back, wait for prices to fall and snap up a bargain is just half-arsed and lazy thinking.
  22. We seem to have a consensus emerging from two experienced posters. If Bubb joined in with this analysis I'd suggest its a goer. Question - Surely a decline in Sterling will prevent a "HPC" (in the sense that most people think - "falling prices")? 1 - As sterling falls the manufacturing sector (whats left of it) will pick up adding to employment. 2 - A fall in sterling (the currency in which houses are priced) is a de facto fall in house prices. The numbers on the stickers will not fall but the houses will have actually decreased in value. Over to Bart, Cgnao and Bubb for a reply.....
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