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House Price Crash Forum


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Posts posted by righttoleech

  1. Yep, I see this a lot.

    The Sunday Times property section has properties that would only be affordable by a tiny percentage of it's readership. The average Sunday Times reader may have a bit more wealth than the UK average overall, but nothing like the amount needed to afford the £2m equestrian properties and £1m foreign second homes they always feature, especially after they will need to upgrade from the £850k 'starter home' they have bought in London.

    The thing is that this cannot go on forever. The disenfranchised who cannot afford their London studio flat will soon become the majority even if prices do stop going up now. Of course parental gifts from their own property gains will slow this down a bit, but by the time a parent's house is divided between 2/3 kids and tax is paid there is not that much left to keep this madness going.

    .......Runaway houseprices also provide a nice income stream to the government in terms of inheritance tax.......those 2 or 3 children now share their inheritance with the government far more often than was the case when house prices were more reasonable.

  2. buy now before you miss out...on financial servitude.

    the governments actions on supporting the banks and the housing ponzi are shameful at best.

    anyone buying into this madness must be stupid.

    They have been exposed to ramping propaganda from the cradle. Only strong independent minds resist, and then the government meddling appears to turn economic logic on its head. Its a madhouse.

  3. I suspect the majority of us on this site share your view. However these surveys which are are grist to the mill of the ramping VI are greedily gobbled up by the British public where institutionised property greed is deep in the psyché. One of the main weapons of the rampers is to trivialise the extreme property prices by concentrating on property far above what the average person can afford. Newspapers whose readers are unlikely to earn much more than an average salary are told 'yours for only £1.5m for featured properties, meanwhile the BBC celebrates a beach hut with a 16 year lease at £200,000. http://www.bbc.co.uk/news/business-23255452. If you are finding it difficult to pay the rent or mortgage on your squalid London studio flat despite having a professional job, such stories could make you question your purpose on this planet. What I see though is a worship and aspiration for this property wealth. Competitions describe prizes as 'up for grabs', those who exploit others misery to enrich themselves are generally revered role models in this vile cesspit called Britain.

  4. What's the tobbaco giant's response to these things? I've read they have invested in it but where are their products?

    Not a smoker myself but feels like this e-cig stuff is extremely disruptive to the industry.

    If I was addicted to a drug I'd want to try to ween myself off using ever smaller amounts but I can imagine that is quiet hard in reality. With the help of electronics and control of concentrations of vapour I bet these things could be used to overcome addiction like nothing else.

    They hand out free ciggies to kids in 3rd world countries.

  5. It's easy to forget how expensive motoring used to be. In 1985 I bought a four year old metro for £2495 (more than I paid in real terms for an 11 month old Peugeot 107 this year). Add to that car tax at £105 pa (now zero on the Peugeot) and servicing and repairs at about £500 pa and horrendous depreciation. I sold it in 1988 for £1,000 to a person who scrapped it in 1989. Eight years was about right for a metro with its corrosion problems.

    Anybody ever seen any corrosion on an eight year old 05 Aygo, 107, C1 triplet that came out of the Peugeot Euro superplant in conjunction with Toyota and Citroen, thought not. And now they are dumping them from 7K new on the UK, the only country that is still buying cars at a pre-recession level.

    Moreover the Peugeot does 64 mpg, the Metro 40 mpg. Petrol hit £2 a gallon in the summer of 1985, not dissimilar to today.

    Even food, despite the recent rises, is a fraction of what it used to cost in the 80s......thanks to a world beating logistics and supermarket set up.

    I hope ONS and the government are not reading your posts. We will have a CPITA measure....(Consumer Price Inflation Technology Adjusted) to adjust downward your wage expectations to account for technological advances. The inflation measures are actually supposed to reflect the basket of goods of an average person. If cars improve then the 'average' person has the improved 'average' car.

  6. Unlikely we will see new Mansion Blocks again. They tend to be attractive buildings with good sized rooms and sometimes a pleasant communal courtyard.

    New builds are more like the new block that has replaced Charles House, an old BT building at the 'cheap' end of Kensington High Street.. They have extended the outside of the block so that the walls are a hairs breadth from busy Kensington High Street and Warwick Road. The only thing stunning about these luxury appartments is the price. 1 bedroom from £795,000 when I checked 'for a laff' a while back.

  7. drip, drip, drip, drip, drip, drip. drip, drip, drip, drip, drip, drip, drip, drip, drip, drip, drip. drip, drip, drip, drip, drip, drip, drip, drip, drip, drip, drip. drip, drip, drip, drip, drip, drip, drip, drip, drip, drip, drip. drip, drip, drip, drip, drip, drip, drip, drip, drip, drip, drip. drip, drip, drip, drip, drip.........this property porn filth will drive you mad......or pervert you.

  8. Lucy:Is it to add to your portfolio?

    Answer:No we just want to sell it quickly and make some money

    Lucy:aah, you're going to flip it.

    Am I abnormal. I am not comfortable with amateur LLs exploiting their brethren via a single BTL property. Yet portfolios are now seen as the norm. People with ONLY ONE property are the new renter scum.

  9. The Peckham flat is my style, it's no sh*thole, it's just located in one. There's a few places in London where I hide my keys and cash when I get off the tube and Peckham is one (add to that Camberhell and Stratford). Peckham has always been cheaper for a reason, it hasn't just undergone some massive re-generation has it, not that I'm aware of? £335k, stroll on! London can't make up it's mind can it? For 10 k less you could have this in Chiswick with more square metres http://www.rightmove.co.uk/property-for-sale/property-37617286.html and rather than get mugged, the worst that will happen to you is someone will do a wild 3-point turn in the road.

    Has Peckham got a tube station.....or Camberwell for that matter?

  10. What are the contracts like (not that I'd ever go for anything like that myself)? Say you put a deposit down on a £6 million penthouse, by the time it's built it's worth £3 million, you don't want to complete. What happens next?

    If you have exchanged contracts at the 10% deposit stage as is usual with these off plan sales, then technically they can sue you for the 90% balance. During the 90s crash I do remember builders trying to do this. However, normally the builder will keep the 10% and look for another mug.

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