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House Price Crash Forum

ym2

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About ym2

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    HPC Newbie
  1. Yes, saw it coming and googled house price crash, found this site which confirmed my thoughts. Then went off sailing around the world. See here I believe the consumer is yet to feel just how bad this is going to get, the latest talk of green shoots etc is utter rubbish.
  2. Buy a boat and sail away. Then you can go anywhere. We did.......see here Visit My Website
  3. interest and charges over half an hour. No seriously...... she later corrected the figure to 270,000 on credit cards and £10,000 as loans elsewhere.
  4. Cathy on now has £270,000 of CREDIT CARD DEBT. Not a misprint.
  5. ym2

    Yacht Price Crash

    I'm a yachtbroker (and an STR ) and can confirm the top end is doing OK, the very bottom, sub 10k, is doing extremely well but the 50-300k area is very quite.
  6. Last year I came up against this with Lloyds. £30k max I was told. However I complained and was put through to my branch who authorised a 100K transaction. They changed the limit for 24hrs then reset to 30K, so it can be done.
  7. Actual footage of Europeans trying to get more liquidity
  8. The pr*ck who when I warned him of this last year as he took on a huge "investment" mortgage put his hands on his hips and said "Your wrong, we're an Island....there is no more land." The tw*t BTL "investor" with £23,000 negative cashflow A MONTH who laughed when I told him I had sold all my properties bar one and all my stocks in August last year as I would be happy to make just 6% and preserve the capital for the short term. The guy who's pride and joy yacht I sold last year because his wife insisted the money should go into a hot commercial property deal in London instead. The hedge fund manager who told me 6-7 time salary lending was here to stay and property values would never return to the mean. The cocksure moron BTL investor who really really thought I was stupid for suggesting a crash was coming as "they won't go down, not now, the government won't let it happen" Well....you boys are taking a hell of a beating.
  9. ym2

    Return To The Mean

    An interesting graph appeared in a post a day or so ago showing the various stages of a bubble and the subsequent sell off. What price would the average houseprice have to fall to in order for prices to return to the mean? i.e the pre-bubble trajectory.
  10. Glad to hear you are OK. I had a similar scare a few months back. My best man also recently attempted suicide. 3 kids and a strapping rugby player, but the stresses of life got to him. He works in financial services and was sick of running to stand still. Luckily he is ok and planning a new life overseas, but he is the LAST person I would have imagined doing something like this. It sickens me that this situation is bringing hardworking people to these lows and that so much if it could have been avoided. Well done property ramping telly, fiat currency and the greedy b******ds involved who milk the system for obscene reward. Nothing changes. It's modern day serfdom.
  11. Hmmm. I'm overseas and my Isa is with them so transfering out was not an option. (under the 35k) but I'm unable to log in to my account at 10am UK time. Not looking good.
  12. "Maybe it's time for you to think about stepping aside" If you missed this you must listen again, it's a non-stop attack.
  13. "You look as if you can't even control your own party" Classic. He's giving him a total drubbing!
  14. Just spent some time with US friends that have a valiant 42. Very nice. Already the Hans Cristian prices in the US are falling, but the VAT and EU recreational craft directive makes bringing them over to the UK problematic and costly. (though not impossible)
  15. I've been doing this on and off since quitting a London Advertising job in 2002. Love it, and have now retrained as a yachtbroker. We lost our first boat in Hurricane Ivan in the Caribbean in 2004 (weren't onboard at the time) and have had two children in the meantime, but HPI meant a bigger boat. We decided to cash in on our UK property in 2007 . (Have kept an overseas property) As a yachtbroker I can tell you that he top end of the market is very solid, and I'm talking those that pay cash and probably have several properties with no mortgage. But lower down is beginning to feel the pinch this year. The right boat will hold it's value relatively well, but mass produced and over supplied models will suffer, especially those bought by the mew brigade. Our boat is the one area of our finances that I look at with a totally different view. I do not look to it to repay the capital spent if and when I sell it. Whatever comes back is a bonus because the experience it is giving me is totally priceless. I will never forget the sense of elation when I stepped ashore in Antigua having skippered my small yacht there from the UK. STR fund pays our day to day with no dipping into capital as we estimate our cost of living is 2/3rds of land lubber life. We anchor out as much as possible to keep costs down, off some of the most exclusive beaches in the world. Often the smart five star hotels on the beach let us use their pools as we are "providing the scenery for their guests". Cost to me to stay there....zero. We make our own electricity via wind and solar and have a machine that turns seawater into fresh. Cruising in the Caribbean also means money goes much further as we are paying in US dollars. Great lifestyle, always interesting and challenging. Not too keen on the rough stuff, but when you are on an open ended trip you can choose your weather to a certain extent. You'd be surprised how many are out here doing it. We have a website with pics and stories of the trip at www.jryachts.com (click on cruising blog)
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