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House Price Crash Forum


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About chainfree

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  1. Sorry Matt - not ignoring you, but you got your reply in just as I was doing my chicken thing... Definitely not Rainbow, but I know what you mean. Fannie & Freddie are American - so that explains a lot!
  2. ...but not yet stuffed! Now where's that corn feeder......
  3. I drive past Paper Mache every day, but I must have missed the day the zebra print was up. The grubby toys look interesting though. It's all not quite looking like the cool pads for slick executive city dwellers it tried to be when first started. Snivell's must be mortified.
  4. Thanks for the response W&S. As soon as I posted this item I realised it probably should have gone on the main forum, but I'm still new to forum "form" and was a bit chicken to go there too! However, Norfolk/East Anglia is no more isolated from these matters than the UK or Europe. These too strangely named entities guarantee several Trillion (not billion!) Dollars of mortgage/loan debt. And if these two are in trouble, then everybody's in trouble! UK lenders have bought into a big slice of the US debt market and they are still trying to get their balance sheets to look half acceptable to shareholders/members - and thats only based on sub-prime exposure revealed so far. Tip of the iceberg... But point taken - this topic belongs on the main forum really.
  5. The new window dressings at Paper Mache are interesting - either DSS or the Savills office junior was dispatched to a car boot to get some stuff on a budget. Also amusing are the palm trees installed on the patio round the back of the top rotunda thing. I guess they are trying to invoke a kind of cool Miami apartment ambience there. However, I doubt even some lifesize replicas of Crockett & Tubbs will do the trick. The red and black balloons are gone too. I wonder if anyone really know what to do with this big turkey of a development? Meanwhile, across the road, the scaffolding is coming off Greed Mills to reveal more of its finished look. This time Travelodge meets .... Colditz. Buy in at your peril investors....
  6. ...Well I'll have a B please Bob. And thats despite the superlatives, expletives and big it up EA bilge for A. I dread to think how much on Earth the LL paid for this lifestyle con (with its restricted head room). You can do so much better for the money - like B for starters. The rental market can look scary sometimes with stuff like this around (speaking as a renter!) Thanks for exposing this Catflap.
  7. Lest anyone think the worst of the credit crunch is over, I thought members might find this extract from the Los Angeles Times interesting: "Several months after many thought the financial system was well on its way to recovering from the mortgage meltdown and resulting credit crisis, worries about Fannie Mae and Freddie Mac showed that "the credit crunch, far from being over, has a lot more chapters to play out," said Kingman Penniman, head of KDP Investment Advisors Inc. in Montpelier, Vt. "It's a crisis of confidence, and it shows how fragile that confidence can be." Fannie Mae and Freddie Mac buy or guarantee home loans and mortgage securities, and together stand behind almost half of the nation's mortgage debt. Their importance to the housing market has only increased in the last year as banks and others that financed mortgages have pulled back after suffering deep losses on subprime home loans. The woes of Fannie and Freddie may make it more likely that scores of large banks and brokerages also will need to raise billions of dollars in capital. "This additional turmoil in the mortgage market could put further pressure on financial institutions around the world," Penniman said. The fate of Fannie and Freddie was the topic du jour in Washington. "Freddie Mac and Fannie Mae are very important institutions," President Bush said after holding a previously scheduled meeting with his economic advisors. The Treasury secretary, the president added, "assured me that he and [Federal Reserve Chairman] Ben Bernanke will be working this issue very hard." It was clear the government was weighing various options should the mortgage holders fall into deeper distress." When America sneezes -the rest of the world catches a cold. T'was ever true.... Add to this the recent Bradford & Bingley wobble this week. What's happening may be more than just "a correction"?
  8. Savills cut prices? That day will be Armageddon. I noticed Paper Mache Yard has some new enticing black and red balloons again. They didn't trouble to remove the old ones however, which hang there like shrivelled raisins. Still - they must be selling extremely well - the front windows still have the same "sold" or "reserved" stickers in them AND two of the flats (sorry - luxury, futuristic, prestigious apartments) still appear to be occupied. I just know I'm going to be kicking myself very soon when they are all snapped up....
  9. The Paper Mash Yard balloons have all symbolically lost their gas. Wonder what next week's wheeze will be to try and shift some of these derelict little shoeboxes.... Free bottle of Asti Spumante and bag of twiglets perhaps, or maybe Buy One Get One Free?
  10. Unless Elliotts know something we don't.... perhaps it's the Spring Bounce about to land....
  11. Ambled past "The Factory" today. It appears to be non-productive and shut down. No doubt the developers thought it would be money factory for them. All that irresistable "loft style luxury penthouse apartment" lifestyle claptrap not working its infallible magic this time. Not convinced everyone wants Lawrence Scott as their very near neighbours either- especially if its going to be turned into a major building site too...
  12. Just had a quick scan of the latest Rightmove report. Overall, national prices UP by 1.2% during May. Seems to be largely due to increases in upper end properties and a general rise in the South East. East Anglia DOWN by 1.2%. So a reversal from last month. Report indicates continued mindset among vendors refusing to recognise the current market. I suspect also EAs trying desperately to make the "Spring Bounce" happen. I'm growing ever more sceptical of Rightmove - they are a big VI afterall. You have to scoff at "first to view will buy" This is lifted straight out of the used car for sale small ads - "first to see will buy". Still - second hand car dealers are now generally viewed as being more trustworthy than EAs.... Haart are a goldmine of EA drivel: "What you have been working for", "..calling all ftb/btl", "....just what your family deserves" (bleurghhhh) and of course - "be quick - this one won't hang aroung for long". The diarrhoea is endless. Still, this stuff all does wonders to promote the wide boy EA stereotype
  13. Spot on. A modest little number which bears little relation to its asking price. Maybe they added 15k+ for that nice new bathroom. I particularly liked the demonstration of how, with some imaginative parking techniques, you can just about shoehorn a very small car, at a funny angle, just by the front door. Well done EA and seller. Vendors - get real!
  14. I like it! How's about Trashcan Rank?
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