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House Price Crash Forum


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About mmm_ok

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  1. Excuse me, I'm no bull. What an idiot you are. Don't guess at figures is what I'm saying. Jeez...
  2. Actually, the single person discount is 25%, NOT 50%. You really should check facts like that before posting.
  3. This thread started well but has turned into a bit of a circus... The reason why I work forty hours a week is so that I don't have to waste a Saturday laying under my car wondering if I've unscrewed the correct bolt and getting oil over my face - all to save £31.67. Come an guys, I'd gladly pay some grease money £40 to change my oil. Heck, I'd tip him a tenner to drive it back to my house too - I'll be in the pub.
  4. I've never really understood why most sales figures focus on 'like for like' rather than total sales. Like this month, year on year total sales is around +3%. This doesn't seem too shabby... it's above inflation which means people are spending more this year than last year. So when retailers quote lower like for like sales, doesn't that just mean they've saturated the market or overexpanded? Is this just a sob story to make the economy sound in worse shape than it really is in an attempt to get lower interest rates? I don't get it...
  5. Taxing house ownership seems like a good thing to me. Many people use property as a means to hide wealth from taxes. I saw an old person complaining on BBC once that she couldn't afford to pay council tax on her 3 bedroom detached house that she grew up in all her life. It seems common sense to me that cash poor, asset rich people shouldn't dodge tax or live beyond their means. I view this as tax evasion. Why don't owners have to pay capital gains tax on the difference of buying / selling price of their house? The fact that there is no CG tax has encouraged speculation because amateur investe
  6. Buiders can't stop halfwy through eh? Been to Thailand in the last few years? Bangkok is littered with half-built concrete skeletons due to the Asian crash... The only reason why builders aren't stopping is because 1) there are still a lots of suckers out there 2) the margins on new builds are very good (I suspect - no proof ) suckers * high margin = happy pigs The only thing I can't figure out is how the government thinks they're going to meet new build targets over the coming decade. As soon as the pig trough dries up, the builders will stop building...
  7. Or has it? It's more likely that the recession we were due was just postponed, due to consumer spending, MEW, gearing etc. This just means the wave will be bigger when it hits the shore...
  8. I'm not sure how much of a handle you have on the London property market. Studio flats go for £195k to £225k. You're living in la la land if you think you can get a large 3 bedroom Victorian in Kensington and Chelsea / Chiswick / Richmond for £400k
  9. No - why would I be happy that the average person / family / whatever can't buy a house? I just believe it's happening...
  10. The flaw I suspect with the argument of "4x salary blah blah blah" is that it assumes that the same percentage of the population will continue to buy their own home. It seems to me that we're heading for a "you'll rent for the rest of your life" future. In this case people who make £25000 will never own their own home. Only rich people who make above average salaries will own... We are experiencing wealth re-distribution - from the poor to the rich.
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