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House Price Crash Forum


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Everything posted by needle

  1. Eh... the pound is falling since the £50 billion announcement.....
  2. So why put it on the market? EAs will soon tire of this - paying to advertise a property that clearly wont sell. Of course you would because you havent a clue. Unfortunately most people are as dumb as you and will sit on a depreciating 'asset' while still servicing a loan. I for one am perfectly happy for current owners to hold on to their properties until they hit bottom - why should I take a hit on it? Let them continue to service debts on non-performing assets, removing money from the economy and making my STR fund all the more valuable. Keep up the good work Sibley! Us STRs are counting on you! .
  3. That article adds nothing to your argument. Perhaps, but its that attitude that got us into this mess in the first place. Which is what I said.
  4. Wow! After 8 pages of posts an intelligent rebuttal is posted http://www.housepricecrash.co.uk/forum/ind...t&p=1839810 and DaddyBear just disappears!! Whodathunkit?
  5. Yeah I suppose its a bit like the UK housing market in 2005. When I see posts like that ...... Daddy Bear, clarify please are you suggesting a collapse in bond prices or yields? You've arguably got that backwards. Bond yields dictate interest rates, not the other way round. This being the case, buying bonds with 'newly printed money' would cause rates to fall and so borrowing, or more precisely debt servicing becomes cheaper. Remember why this is being done; Pumping money into an economy to pay down debts is not inflationary no matter what way you slice it. Yes, true but there will be a dash for liquid assets and it will be at the corporate level; The punter on the street understands none of this. Either way neither they nor the multinationals will be buying 3-bed semis. The Chinese govt clearly understand this and it aint student accomodation they're buying; its gold. Unless what youre actually trying to say is that interest rates have to rise sharply - in which case you'd be correct; but there will always be a market for bonds, even then. If this is what youre getting at then I am intrigued to know how a sharp rise in interest rates will result in inflation? Isnt the whole idea to re-capitalise the banks? Higher rates will do this and remove money from circulation. Additionally, higher rates will result in higher borrowing and debt servicing costs - so unless youre buying with cash on hand (the 'STR fund' you so deride, perhaps?) then its gonna be a whole lot more difficult and expensive for you to borrow or service existing debts, which will, again, drive prices down. .
  6. The bond market, as far as I understand it, cant collapse. The OPs suggestion is just uninformed nonsense.
  7. The 'logic' here is that once bad news is announced, it is over and done with. "They lost $50bn last year? Great, its profit all the way now!!!" Nothing last in the minds of these people. They have no memories and no future beyond the end-of-month figures. They dont see the down slope on from 14k-8k on the DOW they only see todays trade.
  8. That is indeed correct. Check here http://www.econstats.com/weo/V031.htm A piece of information is useless unless it is in context.
  9. Its also right beside a petrol station. I tried to PM this Mike character to get a response but the HPC 'nazi' ethic got in the way - hes not allowed to receive PMs. WTF is that about?
  10. I dont know if thats a joke or not but there are rumours flying about the viability of several football clubs to continue as going concerns.
  11. Howdy Mike! Gee its goddarn good of you to breeze on in and help us all out. This is a nice house, isnt it Mike? Oh...hang on a sec... whats thats smell? One for the non-smokers, eh? I like this one too. Sorry? WHAT? Cant hear you with ALL.... THE.... TRAFFIC. No Mike, its only been on the market for what.... 9 months without a price drop. And it was listed for months with another agent before that. Unrealistic expec...WHAT, Mike? Mike d'ya reckon this one is worth 126k more than this one? Must be one hell of an extra bedroom for that money. Pssst! Mike! Hey Mike! I think you made a typo here - its a 3 bedder on at £230k when theres a 4 bedder in the same estate for 225k. This goddam internet, eh Mike? Mike!!! Come back, I'm just kiddin ya... Want a laugh? Take a look at this shytbox its been listed since Jan 2008 and only dropped 5k in what..... 14 months? They want 220k for it!!!! Man I nearly shot my load laughing at that one...... Hey Mike, drop me a line when that last one gets to about 80k....
  12. From the Sale and Altrincham Messenger 26/3/09 Roughly 89k households in Trafford and >3k empty properties.... Nearly 4% of the total housing stock unused.
  13. I notice that some plum has advertised a place for sale in Blackpool. She got low-ball offers and refused them. Now the genius types on that site suggest that she 'sell' 50% of the equity in the house to someone else and let them collect the rent. So she effectively sells 1/2 her property for way, way less than even half the current value the upside being that she retains a 50% share in future equity.... or something. You can see this going bad from miles away. What happens if she wants to sell and the 'investor' doesnt? Shes tied into an agreement whereby they get the valuation and have first refusal on the prop, thats what. The best part is she thinks this is a good idea and is thinking of doing it with her home as well as her BTL. These amateur BTL people are gonna get fleeced. Again.
  14. There is a little pinch of salt required for these numbers, I suspect. As I understand it, these figure was derived from the census - non responding households type-of-thing. Many of these places, at the time, were built but not sold and others were occupied by foreign emigrants. Emigrants arent necessarily keen on filling out official forms. Even with that taken into account you could only reduce the number by half; say 175,000 empty properties. That is still a huge figure in a country that has a population of about 4.5 million and is only 4% urbanised. Put another way, the whole republic of Ireland is about the same population as Birmingham (and surrounding areas). What would 175,000k empty properties do to the Brummie housing market? What would just 75k do? If the 350k number is anywhere near the truth....well..... you can imagine the rest for yourself. .
  15. You should consider that this may be just a political stunt to cover some very high up political/business asses. Police raiding a nationalised bank? Why? What information would they need a raid to get? Why didnt they raid it before it was nationalised and in receipt of taxpayer help? Who are the 'golden circle' alledgly involved in alleged dodgy share dealings in Anglo? Are there any politicians involved? Are they currently in govt? Will the govt name the members of 'golden circle' as they are under huge pressure to do? Why not? The bank is now owned by the taxpayer, isnt it? How to get out of this one.....? Wait! Start a police raid, start an investigation and then no one can comment on anything for fear of prejudicing any police enquiry. If there were any politicians or businessmen involved in anything to do with the bank then they could not be named or written about or commented on in the newspapers and their involvement would be kept secret.... in case it prejudices anything. Then, let the investigation run for 5 years by which time the matter will be forgotten about. Simple, if you do it the Irish way What y'all think of my outlandish conspiracy theory?
  16. He might not be far wrong. "..according to Americans.." isnt really saying much. From The Onion.....
  17. This poll is about 3 years too late. Anyone getting out is out long ago. And I say that with a mouth full of money
  18. ....but strangely sexy. I know what you mean
  19. Thats exactly my opinon. Incidentally, thats the approach taken by 126 million Japanese when their govt tried the same thing 20 years ago.
  20. You seem to have a thing about activity picking up. Whats your share of the 22k from last month? Thats about 1 for every broker in the country, no?
  21. This is also driving down the price of oil. For the obvious reasons - ships using less oil - but also because these ships are so cheap to hire that when a countries oil reserves are full they just hire ships to sit off the coast with billions of barrrels more. This adds to reserves and drives down the price.
  22. 'Bitch-slapped' aint the word for it... The OP, in fact all of you, need to read these 2 posts The Accidental Landlord Housing and "Ghost Inventory" We are still 12-18 months behind the US; its all coming our way.
  23. I can tell you for nothing that I personally am surfing through about 2000+ RM properties per week and logging them on my property-bee software (www.Property-bee.com). So about 8000 (or 4% of the increase ) of those 'buyer enquiries' are from me alone. I'm pretty sure there about 500 other PB users out there... go figure.
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