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House Price Crash Forum

mid_gen

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About mid_gen

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  1. It depends if you think a responsible way to deal with the fact that FTBers can't afford a deposit is to drop them deeper into debt, or make property more affordable. Obviously the last few years has shown us that the best way to run a stable economy is to borrow more.
  2. I don't buy the line about goods being expensive either. Sure if you go into tourist traps like Nathan Road and pay sticker price, you'll get ripped off, especially as a westerner. You just need to not shop in tourist areas, and be prepared to haggle. For what it's worth, goods from the Apple Store are about 20% cheaper than UK prices, across the board.
  3. Not posted here for a while, as I escaped to Hong Kong about six months ago. I'd kind of forgotten what it's like to read about the doom and gloom every day. House prices are spiralling at the moment, mainly due to wealth pouring over the border from the mainland. Rents are also increasing, but not at the same rate as prices, so the already miserable rental yields are going to fall further. Social housing is provided for what i believe is something like 1-2k HKD a month. Apart from the house price speculation, pretty much every aspect of life here is better than the UK. I can't see myself going back for a looong time. I pay the same here for good sized 2 bed apartment in a smart complex with pool/gym etc, as I did for a 1 bed in a shitty old building in West London. I have a 20 minute commute to work, on a spotlessly clean, efficient transport network, with trains *every* 2 minutes, that costs me about 40 pence each way. Income tax is 15%, but your rent is tax deductable....go figure. Crime is essentially non-existent, you can walk the streets any time of night without worrying about gangs of yoofs and the like. Jobs are plentiful and well-paid in the international industries (finance, trade, manufacturing, design etc) Last year the government ran a 70billion HKD surplus, and is paying it back to every resident. I can jump on a bus (15 pence) and be in a country park with miles of hiking trails and numerous beaches in 30 minutes. Numerous outlying islands are a short ferry trip away. Flights to Thailand etc are less than 100GBP return. Sure life is different if you're a local workig in the service industry, but on the whole, life is pretty good here. Btw I'm not one of the expat types that live in a little bubble in mid-levels and never leave Central, I live in Kowloon and work in New Territories, so do see a decent slice of HK life!
  4. I guess no-one has read the Times article yet.....the gist of it was that developers would put an equity fund that would be used to cover risk so that mortgage lenders could start offering 95-100% mortgages again.
  5. Hi all, Wanted to get some clarification before I go further with a dispute. Moved into property 1st June 2008, left 1st Jan 2010. Standard AST, but direct to LL, not through an agency. LL is making some over-the-top claims on the deposit (damage to a stainless steel worktop......it's 2 1/2 years fair use imo). Anyway, I looked for our deposit on the three TDS schemes, and found nothing. I asked the LL which TDS scheme our deposit was held with, he has replied stating that TDS was not a requirement until January 2009. I don't believe this to be true, and am ready to send a letter before asking asking for our full deposit refunded.....but our LL is partner in a well-known law firm, and I'm worried that he may know some technicality I'm not aware of. Is there any scenario in which a TDS scheme was not required until January 2009?
  6. Been contracting in investment banks for past year. All the upheavals in the industry mean there is loads of project work around. Making hay (well, a deposit) while the sun is shining. Other half was NHS (front) but moved into private 6 months ago. None of my acquaintances in a range of private industries have been particularly affected....public service people are on pay freezes though.
  7. The **** fell out of the apartment market in that area a long time ago...old news. Chronic oversupply of 'executive apartments' and surprising lack of city workers who wanted to pay inflated rents to live in a shithole overlooking car parks and mainline stations. Grew up in Basingstoke.....now live West London.
  8. Still don't see the attraction with Fulham! I live in Barnes just the other side of the river to the West. Had a couple of drinks over Fulham the other week, and not really having explored much before, I was struck by how busy the roads are, how small and cramped all the houses are, and how dirty the whole place is. Honest to god I have no idea what the attraction is? Decided to walk home via Hammersmith bridge....and as we were walking throgh some of the residential streets, saw a group of 15 or so teenagers, quickly clocked them as very middle-class, talking 'proper' and not in chav uniform......and then one of them ran back down the road and hurled a brick through someone's front window.
  9. You know to buy when people on internet forums are predicting big falls. Trying to make something out of daily movements of the FTSE? Dear oh dear....
  10. I rent in Barnes just over the bridge. I don't often see more of Hammersmith than the tube station as frankly, it's a miserable dump. There are some flats crammed between the A4 and the river but they are either too close to the road, or populated by the local gangs. None of which are really the knives and guns type, more the smoking weed and punching people (me included, on one occasion), but worth avoiding nonetheless. Take a look at Barnes and Putney. From what I've seen Hammersmith isn't that much cheaper and honestly, go walk down King Street in Hammersmith, then walk over the bridge and down to Barnes pond. Different planet.
  11. The music and festivals scene. Nowhere else in the world even comes close, and it's festivals you see the best of the British quirkiness and sense of humour (avoiding Reading/Leeds/V ofc)
  12. It's a pretty simple situation as far as I'm concerned, there are two unarguable truths that matter. Carbon Dioxide has a greenhouse effect, warming the global climate. We are dredging billions of tonnes and millions of years worth of captured carbon deposits up and burning them, releasing the captured CO2 into the atmosphere, have been for decades. Once you acknowledge those two truths, it's down to you if you think there is any correlation between #2 and climate change. Pretty easy to choose my side of the fence personally.
  13. You'll only get one answer on here, and it will be accompanied with a little frothing at the mouth. Even in a falling market, if you have the means and the desire to purchase a property, then it is not neccessarily a bad idea. You should already be making a substantial saving off peak prices, so you've done better than most of the people that bought then. Or you can hold on and hope that prices continue to fall. I happen to think they will fall further, 10-15% maybe. You may think different. Fact is, even though I think there is further to fall, if the right property came up, and I had the means, I would buy now.
  14. The G20 bounce....when they make their announcements, it'll probably spike very quickly and plunge. imo. Any huge fiscal stimulus affecting the UK will be offset by the prospect of national bankruptcy.
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