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House Price Crash Forum


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About Top_Bhoy

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    HPC Poster
  1. A little knowledge is a dangerous thing...and ombudsman is proof that this is true. With no details about me, his claims are well short of the mark and rather sad. The short-sighted greed of him and his ilk will burden generations to come. I'm thinking of future generations who will now have to pay the financial and social consequence of this excessive greed!! Good riddance to bad rubbish. Hopefully that he/she is now gone - it'd be a pity for them to tell more lies by re-appearing.
  2. I'd have thought that Ombudsman would welcome the return of affordable shelter to be available for his family. For this affordibility to occur from where we are currently sit, either wages need to rise or house prices fall - there is no other way. House prices falling is the fall-out of an asset bubble and its inevitable. Cheering the bursting of the asset bubble or not, house price drops are/will happen. The ones who are in serious bother are the gamblers who borrowed against their existing property to buy more property and now find themselves in the pooh - shortly to have no property. I don't wish bad on people but spare me the crocodile tears on these gamblers who pushed the asset bubble to its limits - they deserve their karma!!! It is the excessive borrowing and debt levels which has resulted in the greatest global economic downturn since the Great Depression. For the future, there needs to be a return to sanity. How much better a positon we would be in today if this money would have been invested in our industry, education and hospitals instead of speculating it away on unsustainable capital property growth.
  3. Nth Ayrshire is screwed - has been for 20 years or more. Lordy knows how house prices ever got so out of control. Agentimmo, will you be putting in a bid on the house in Scotlands Riviera once it reaches 125k or wait until the foreclosure sale?
  4. This is simply making excuses for the greedy and those who MEW. Yes by all means have tighter regulation and restriction on credit but unless diagnosed as mentally impaired, no matter how stupid people can be, they know that when they sign the approval forms, their house is at risk if they don't keep up the mortgage payments.
  5. Perhaps you misunderstood me, I do understand and agree that buyers such as Thomas Ross are in control and maybe appeasement was the wrong choice of word but sellers won't drop the price simply because Thomas Ross/AN Other simply wants them to, something will have to change for this to happen. Which was what my point was about.....Thomas Ross becoming despondent and becoming upset will not change that issue.
  6. Sorry but sellers are not going to drop their prices to appease you. I'd chill out and either accept the current situation and simply get on with life or if you can afford it, take the plunge and buy. Alternatively, get the girlfriend to rent you out one of her rooms. Feeling despondent over something which is outwith your control is not the way to good health.
  7. Purchasing any property, irrespective of the developers asking price, a wise person would see that there is a need to review the values of properties in the surrounding area and carrying out a comparison to decide 'fair value'. Anyone looking at the majority of these new developments would see that they were overpriced but spurred on by the greed of BTL and in many cases, the lure of a cashback on the purchase, the 'investor' carried on regardless. Caveat Emptor.
  8. Top_Bhoy


    40 quid seems a reasonable amount for colour photocopying and binding of a report - if it must be levied at all, which is a seperate discussion. I can see why the full report is only being provided to those really interested parties. If a free report was given to all and sundry who walked through the shop front, it would cost the RE agents a lot of cash and it would be an unneccesarily waste of their resources at a time they really need to be cutting back. Also, there's probably a need to deter tyre kickers and snoops looking to see how their own properties stack-up against the opposition with no intention of proceeding further. Maybe a single A4 sheet, providing an overview of the report and the pertinent bullet points only, could be issued for nothing on initial inquiries, as means of a compromise.
  9. I'm not sure where to ask this but I'm looking to find out some more info before I make any calls for speciifcs. The situation is that I have some cash and I have a mortgage from a re-financing several months ago. Given the current financial meltdown, I'm pondering my options to spread the risk and minimise any possible losses. I obviously don't want to keep any more than 35k in any single company. I guess that its complicated in that I am resident at the moment outwith Europe. If I kept the cash, for which I have no immediate use for at the moment due to a change of plans, with the same company I have the mortgage with, in the event of failure is it a simple case that I would only be liable for the difference between the assets and liabilities with that company. Where can I go for more details on this possibility? It seems an ideal situation to have the assets with the same company holding the liabilities. Any ideas welcome. PS If I pay the cash back I will have early payback penalties, the cash may be useful if my plans change and there are tax benefits to having debt as the property is currently rented out (to a family member for a nominal rent).
  10. I don't know where the info came from about NSW being different - it is far from the case. There are large parts of NSW which will be devastated. In a couple of years, with no capital gains to sustain the equity fairy, 'investors' won't have the income (even with the support of the Federal taxpayer via -ve gearing) and my guess is that it will fall in the vast majority of areas like a pack of cards. Oz is behind the rest of the pack but I can't see it not happening. Perth is currently undergoing the largest drops in Oz.
  11. Sadly yes - what I was implying was that those who voted for him and Blair in the last elections have lost their right to complain as it was clear after the first term what their agenda was. They are as much part of the problem as Brown and Blair.
  12. Reap what ye shall sow....the country voted 3 times for Blair and Brown even when it was clear that they were intent on spending their way to victory at the expense of long term sustainability. Peoples greed and the house price inflation to supply cash from the equity fairy, played no small part in that election success. Similar to those who voted Tory in the 90's, for those who voted Blair and Brown in at the last election, they deserve all the crap bestowed upon them.
  13. Heres my 2p worth....you won't like it!! Whilst its everyones right to change their mind, you should have asked yourself the question before putting in the offer and proceeding to survey. If you pull out now when the circumstances haven't changed, you're simply wasting everyones time - including those on this board. A vendor, having done nothing wrong but have the misfortune to have you as a prospective buyer, will have been royally shafted if you pull out ...oooohhh errr!!! You should either proceed with the sale or move into an improved rental and give yourself a better quality of life and time to think - if you can afford a 250k mortgage, a better rental won't be above your means!!!
  14. Top_Bhoy


    Try parking in Shawlands during the week after 9pm or worse, after 8pm on a Saturday
  15. Top_Bhoy


    look on the bright side - property prices have stabilised because nothing is selling!!!
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