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House Price Crash Forum

righttoleech

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Posts posted by righttoleech

  1. Late 40s so not a boomer. If you could have purchased your first home in the mid nineties I suggest you are likely sitting on some very boomer like profits. The crash between 89 and mid nineties was quite phenomenal. We need a crash like that now.

  2. If your monthly salary is paid into your bank account it is an asset, not a debt. No matter whether you draw it out as notes and coins or not. Government debt is easy. The accumulation of years of debt and interest owed during periods in which Government expenditure was greater than tax reciepts

  3. It's because of their mindset. Tell them that house prices will double over the next five years and they will rub their hands in glee and sit tight. Tell them that house prices will halve over the next five years and they will think you are mad, but prices historically fluctuate and bust follows boom. Look at Greater London in the late 90s, prices dropped over 30% and that was after a much smaller boom than we've had over the last fifteen years.

    I bought new in 1989, not only did a neighbours repossession bought for £165,000 sell for £95,000 6 years later, this takes no account of inflation which was substantial at this time. Whilst the houses fell by annual salary amounts mortgages hit 17%. Most people who were around at the time seem to have forgotten or are in denial. I am beginning to think now that the crash will never happen.....so it is probaby imminent

  4. Two obsessions combined. Houses and Round Number Syndrome. All the reports concentrate on the UKs religion - 'housing as an investment'. I should think the £175k increase to the individual allowance is actually for all assets. Secondly the opportunity to parrot the magic number a 'million'. The proposed allowance is actually £500,000 per person......Sorry I meant HALF A MILLION.

  5. The sickening BTL phenomenom goes from strength to strength. The insurance market now concentrates its advertising on landlords, and the HUTH presenters almost shoot their loads when the greedy objects of their adulation boast of their 'portfolio'. I noticed an article in The Sunday Times recently headlined 'How Many Flats Do You Own'? The days of renting out a bedsit to supplement a pension are passé. The name of the game is the creation of a lower order. Price em out and bleed em dry. Meanwhile those in the right place at the right time to exploit those less fortunate are hailed for their acumen. The propaganda behind BTL is winning but nothing is forever.

  6. Rifkind boasting about how little he has to do as am MP, (Radio 4 just now). He has vast amounts of spare time he spends reading and described himself as self employed. John Humpreys reminded him that he is paid £67,000 as an MP. Rifkind said that though this may seem a good salary to an 'ordinary' person it was nothing to a businessman. He sounded like a spoilt brat moaning about £5 a week pocket money. £5000 a day is his rate, it's what he is worth.

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