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House Price Crash Forum

James Taylor

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About James Taylor

  • Rank
    HPC Newbie

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  • Location
    London and Surrey
  1. If Northern Rock will be leading the way back into lending, surely this constitutes competition with other mortgage lenders? And as such, wouldn't this be illegal under EU law? If all HPCers put in £20 - £50, we might have enough to launch legal challenge and a judicial review of HMG's plan. Thoughts?
  2. I have created an e-petition, details of which are here: http://brokenbritain.org/2008/10/28/please-sign-our-petition
  3. I have created a number10.gov.uk petition asking Gordon Brown to create an independent body to oversee our stake in the nationalised banks. Details are here: http://brokenbritain.org/2008/10/28/please-sign-our-petition
  4. We need an independent body to manage our stake in the banks without political meddling. If the profit motive wasn't enough to bring about the end of capitalism maybe the political motives of a band of New Labour politicians desperate to turn around their fortunes will be. http://brokenbritain.org
  5. Couldn't agree more. It's amazing how few people in the mainstream media predicted a crash. It's even more amazing how few people predicted the credit crunch. Mr Cable brought me perilously close to switching my political allegiance.
  6. I think we're now in a post-capitalist system. The principle of Caveat Emptor has been superseded by a media-led majority rule. The rule for all of us in the future: The Trend is Your Friend. Jump on the boat and when it all goes wrong, the government -- egged on by tabloid media -- will bail you out.
  7. I think rent will inevitably go up as people wake up to the current imbalance between rental and buying prices; it already has where I live (our rent is 400quid or so below current asking prices). But this is OK: house prices will drop and rents will increase until it makes more sense to buy than to rent. That is when I will buy, having had landlords finance my quality of life (and my savings) for the past 5 years or so. Interestingly, a lovely house on my road that just had a sale fall through is now up for sale or rent (the sellers have moved out already). Asking price is 675k to buy or 2,200pm to rent. A 6% interest only mortgage on 675k is £3285pm. Add in maintenance, insurance etc. and the cost of carry for that property is approximately £3,500. So the rental rate is trading at a 32% discount to buying.
  8. Great to see the great Bill Turnbull put on a Scottish accent and say "we're doomed; we're all doomed!"
  9. Thank you lifechooser, that's exactly what I'm interested in.
  10. That's a cheap comment to a valid question. Was it Carluccio's or Pizza Hut? I can see the difference even if you can't.
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