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needle

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Everything posted by needle

  1. I posted somethging similar about Euro-zone house ownership. Poverty and home-ownership are linked...but all the economies this occurs in are very regulated.
  2. LMFAO!!!! Do what exactly, comrade? So you need 3.9 times joint income. (I hope the uber-bears are taking note) Essentially a semi-detatched house (I assume your first purchase with at least 3 beds) is not beyond you. Whats the f**king problem? @Uber-Bears ZZG CIUW etc.. See? The market is not radically over-valued comrades. BTW - mate if you learned anything on this site that you didnt already know about property - you deserve to be mugged. No cure for life. (Tony Soprano)
  3. Yeah Charlie, it was all to do with property prices. Get yer head out of yer ass mate, it was an equity crash and currency speculation that led to a prolonged slide - house prices were a symptom of this. There was no real property crash - prices fell for 14 years straight. Funnily enough those who owned BTLs did ok - residential rent fell too, but not as much as property prices so speculators were quids in. Truth hurts. Be careful what you wish for.....
  4. Boo Hoo. This does my head in. My first house was a dump. The world doesnt owe you a living pal. Just like there was no downside to the upswing... theres no downside to the downswing. Right. All those mugs out there waiting for a bargain...sheeesh....Its so simple when you put it like that....
  5. I dont like Brainclamps posts and I think he is wrong on many things. That said, at least he is providing some backup for his position - some bears are just ranting. What people are overlooking is that inflation, and therefore erosion of debt, can be caused by a slide in the value of the £pound. This is quite likely. Similarily, to redress the US deficit the same thing could happen leaving the renminbi lookign very exposed. A simultaneous decline in dollars and sterling would make exports more competitive too. HPC is not the problem - its a symptom.
  6. BTL accounts for only 14% of the entire housing stock. The long term average needed for rented property is about 8-10% of total (higher in London) People need to direct their hysteria elsewhere.
  7. If you need help to buy, you really cant afford it.
  8. You should read the Ireland thread on here. One post links to an article that will have you aghast at the stupidity of some people. Second homes? See the thing is house prices may fall but there may be many people (some on this board?) who have cash in hand are looking to buy that bijou little cottage in Devon or Somerset. They will still have more money than FTBs.... A HPC wont solve anything for anyone.
  9. Is this the same Rense.com that leads with a story "Zionist Mind Control"? Yeah this one is worth worrying about. Right up there with the lizard people pffffff
  10. I havent even bothered to read the posts between this one and the first on so if anyone has already posted this, excuse me (rant to follow) I came to this country 9 years ago and there are a lot of things I do not like about it. But I can vote so I can have my say. I am NOT British, but I am getting a little sick of people whining about this country. It has provided me with education, opportunities, and many good friends. I have my health, my missus, my home and my car. I have a roof over my head and food in my belly. If something goes wrong all I gotta do is pick up the phone and, no matter what, the police, fire or ambulance service will come to my aid. If I break my leg, I will be given help. If I break someone elses leg, I will be given help. Some of the people on this board should shut the f*ck up and stop whining. You, truely, dont know how good you have it.
  11. Jesmond Vale. Great band. Man.
  12. Keep it coming Roman, love your posts.
  13. Yeah but, in this scenario, why buy a house on 2*earnings? HPC is irrelevant so I'll say it again - HPC is a symptom, not the problem.
  14. This is complete c4ap. SIPPS will have next to NO effect on the market. You need a 50% mortgage to reverse into a SIPP for nominal tax advantages. The ONLY effect this will have is for large corporate buyers - it is designed for pension schemes, not BTLs. This is one of the most moronic posts I've seen on here. BTW - BTL < 14% of total market which is why the uber-bears have it wrong on the downside too. About 10% of the market needs to be BTL even when house prices are low to service those between home and buying. So only 4% of the entire market is "surplus". At this level you simply cannot hang your hat on huge price falls.
  15. Just for reference This is what you get from a barrel of oil. A barrel of oil = 42 gallons Gallons per barrel gasoline 19.5 distillate fuel oil (Includes both home heating oil and diesel fuel) 9.2 kerosene-type jet fuel 4.1 residual fuel oil (Heavy oils used as fuels in industry, marine transportation and for electric power generation) 2.3 liquefied refinery gasses 1.9 still gas 1.9 coke 1.8 asphalt and road oil 1.3 petrochemical feedstocks 1.2 lubricants 0.5 kerosene 0.2 other 0.3 Figures are based on 1995 average yields for U.S. refineries. One barrel contains 42 gallons of crude oil. The total volume of products made is 2.2 gallons greater than the original 42 gallons of crude oil. This represents "processing gain." Souce - http://www.txoga.org/articles/308/1/WHAT-A...CRUDE-OIL-MAKES Price of oil 1 US gallon = 3.785 litres 1 US gallon = 8 US pints 1 US pint = 1.2 UK pints 1 US gallon = 9.6 UK Pints 1 US barrel = 403.2 UK pints @ $65 barrel = 16.12 US cents per UK pint On todays rate that equals 9p UK per UK pint. If anyone can find any errors here let me know... Failing that - I got a whole stack of 10p pieces here for anyone who can buy me a pint of anything for 9p.
  16. Woo hoo! Im back on Bubbs team! I have been saying this on the housing forums but I just get ignored.
  17. Conversely, just because people dont have money to buy it does not mean its not worth it. Cant afford diamonds, for example. Doesnt mean they are not worth the price, just that I cant afford them at that price. Yeah, I remember those posts, good stuff. thanks for the update. I'm observing much the same thing myself and am holding off too. Even though its not directed at me I would like to answer if I may..... Anytime is a good time to buy, depending on your need - not on the price or "value" of the asset. Your circumstances determine your need - not the market. I also have a fundamental problem with people holding out for a lower price - as though they were buying a commodity. This treatment of houses as a commodity is fine, but you must follow the logic through and not complain that things are overpriced - its down to the market - the market that you (and I) are holding out to enter. Secondly, treating houses as a commodity is what caused HPI in the first place! However my view is that I am looking for a home not a commodity to profit from or trade in. Let me ask you then - if the house mentioned above fell to 195k and the market was still "falling" would you buy? If it was guaranteed to fall another 25% in 3 years would you stay out of the market until then? I hope you take my point - there is more to buying a home than simply the price. @ DTM - would appreciate your take on this.
  18. Apologies if anyone found it insulting - it wasnt meant to be. Still I dont see why people have to own a property. Whats wrong with renting? Most of Europe rents, as do the East cost of America (particularily NY). The rest of the world gets by without owning much at all. So you've made a decision, based on how you see the market. Why have a pop at someone else? As it happens I'm in the same position but I just accept it and look for alternatives. I dont get what you mean by "sensibly" - it implies that you could afford to buy but choose not to. You are in effect "waiting for a crash". I agree. There is stuff going on in the UK, technology-wise, that would make your eyes water. What is lacking is a workforce with the requisite skills.
  19. Welcome to HPC WantToBuy! The first thing you should do is take time to read through some of the posts on the site. I think you'll find there are many people in your position and many different opinions. Secondly I recommend that once you have read some posts, do some web searches and make sure the information provided is accurate. Not everyone on here has your best interests at heart, no matter what they say. Some people believe in a large and sudden crash, some believe in a gradual decline in house prices, some that the market will stagnate and others that it will continue to rise. Whatever you do, whatever you read, it is always best to get advice from people you trust - family, friends and professionals - and make sure that your decision is one that you are happy with. In the end you gotta make up your own mind! Best of luck!
  20. ouch! What a post. But like I said a HPC is not the problem - its a symptom. In spite of all this I do NOT believe the "meltdown" scenario. I have recently met some very forward looking, positive people in British business. There are opportunities aplenty in Britain (and Ireland - the UKs proxy in Europe). What people are picking up on - the British disease, if you will - is a fear of change. If the UK can adapt to new environments and adopt new views things can be very different. China and India are taking all the 20th century jobs - call centres, heavy industry, manufacturing etc... But this is the 21st century. It seems to me, as an "auslander", that it takes a huge event or something to shake the UK out of its torpor and get it moving. Perhaps those events are coming, perhaps not. A lot of what I read on this site is "little englander" stuff - blame everyone, anyone else... but dont do anything about it. Dont recycle. Dont consume less. Leave the lights on. Call the council. Blame the parents. The housing market correcting itself, slaughtering the landlords and raining manna down on the FTBs is pure fantasy - people are sitting back waiting for it to happen so that they can profit from others misfortune. Sad really.
  21. Ha! Gotcha! Youre just one of those CIA bred alien illuminati leaders who secretly try to brainwash us with microchips implanted in our head. But I aint falling for it. Gonna dig me a bunker, get some dried food, stock up on gold, sell my house and eat the money..... See, the bible, if you read the dutch version backwards in a mirror and skip every 5th letter, says landlords are gonna die "and only the FTBs will survive". See? Geddit? UNDERSTAND????? WTF is wrong with you? WHY dont you agree with ME? © ZZG and CIUW Sh1T gotta go the robot servants of the new-world-order-central-banking-rotshchild-lizard-masons are outside........
  22. Something for both the bulls and bears in this one....! You need to have real player installed http://news.bbc.co.uk/nolavconsole/ukfs_ne...&nbwm=1&bbram=1 See the drop down menu "watch more video news" section in the top right corner Select Business News. Dont know how often its updated. But its current at time of posting.
  23. You come on here Carping about being ripped off when instead of jumping right in at the full asking price you should have been a bit more Koi about how much you had to spend. The market will eventually tank - and the seller? - Eel be laughing all the way to the bank. You should have flexed your Mussel and demanded a reduction. The reason youre feeling so Tench is you were expecting a huge profit when its Sole'd. Unfortunately the market is sinking so they have you by the Cockles.
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