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Melmoth the Wanderer

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About Melmoth the Wanderer

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    HPC Newbie
  1. Off topic, but have you noticed a theme running through the icons in this thread? I note Mr Blek, backtoparents, shakerbaby, and GCS15. Am I sharing this board with a bunch of overgrown schoolboys?
  2. thanks beenhearingthis, we cross posted. Glad I'm not the only one thinking this way. I know the crash is coming, 30-40% forseeable, but I don't have the luxury of waiting another 6 years as it plays out. I'm not brilliant at saving - the money we have is almost all from equity gained on the back of house rises - and I guess buying now with that size deposit will be some sort of cushion. I just don't like the thought of a big debt in a low inflation environment. I think it will be a stagnation unless there is some sort of stupendous shock. The reason I say this is because of the frankly i
  3. "I sympathise with your plight - I guess it depends on how badly you want to be an OO rather than rent and how much you believe a HPC will occur. Do you have a deposit? Are you prepared to see that eroded by any falls? Is the comfort and security offered by being an OO going to outweigh the capital you will lose in the event of a crash?" Have over £100k deposit and are thinking of buying at 250k. I am a high earner so 150k mortgage is not over 3x salary, but it is still a big ask on a <20year mortgage. Ask anyone, 150 is a lot of money. A HPC is a definite, in my opinion. Most of the depos
  4. We sold to rent Aug 04. The market was insane, ridiculous, and could not go on. Things have stagnated, or slowly gone up. They have gone on. Why? Last week we looked at a place to buy. Very nice. I got some mortgage quotes. I can get a 10 year fixed rate mortgage of 4.99% or 5.05% or thereabouts, and it is quite affordable, despite the fact that this property is being sold for £100k more than 5 years ago. And that is why there is no crash. People can still make the monthly payments. Interest only, 25 year deals (renting off the bank) are still cheaper than renting off a landlord. I'm the
  5. Yet another stupid comment about public sector workers. I have worked in public, private, and charitable sectors and your fantasy about lazy public sector workers is just that - it only exists in your head. Grow up. Or better still express these views next time you want assistance from an ambulance worker, doctor, police officer, social worker, or your kids need teaching, or the lights in your street need fixing, or whatever.
  6. Watchdog confirms probe into property company By Jim Pickard,Property Correspondent Published: October 29 2005 03:00 | Last updated: October 29 2005 03:00 The Office of Fair Trading has confirmed that it is examining complaints about the largest residential property investment group in the UK. Inside Track holds free seminars and more detailed two-day seminars costing £2,500 offering advice. Attendees are then invited to become members of Instant Access Properties, a sister company, for a further £6,000 and a monthly subscription charge in return for access to discounts on new property.
  7. Friend has a two bed flat in Islington for sale at £300k initially over a year ago, dropped it to £275k and it has sold for £250k.
  8. We were living in Whitton, which is about the same distance away from Heathrow (3 to 4 miles ish) but to the West rather than the East. We lived there three years but the noise got unbearable and we moved. Flights start at 5.30 and go on sometimes past 11 at night. Sometimes the house shook - fully laiden 747s off to US or Aus are very heavy and it takes a lot of effort for them to get off the ground. The air on a clear morning day sometimes stank of aviation fuel. We had a beautiful house but the minute we heard about the new runway we decided to move. The fact is that every proposed expan
  9. Pizza delivery? I'd say very unsafe. Eating out/takeaways are not compulsory, you can always cook for yourself (and it will taste better as well as being cheaper). Stick to frontline public sector work and you will be ok - as the post above said copper teacher nurse doctor etc. In fact in some areas due to the age profile of professions there are some great career opportunities for younger people - eg teaching - loads will be retiring over the next decade. The Times Ed advertised 6000 teaching/related posts last week.
  10. It said increase in properties coming off the market - not sold. I am keeping a close eye on movements in my area and I am aware of vendors taking properties off the market as there is no interest in them - so no sale. This does not mean there is an increase in demand as the article implies.
  11. Realised last summer. Sold our house as we were having difficulties with the mortgage, or could see difficulties on the horizon anyway. Pulled out of the house we were going to buy and STR'ed. It is still on the market (9 months later) at £20k less than we offered, no takers. nethouseprice was discovered in the summer and that house is still on at £30k more than any other house in that street has ever sold for. Thank goodness my partner found this site, we have saved thousands already. When I can afford a nice average house (as I am on a nice average salary) then we will buy. One nice thin
  12. OK, I admit I smiled. But the bottom line is trolling is poor, and not OK. I appreciate that people are hacked off with the whole houseprice situation, but that doesn't mean it is okay to trash other people. Find something better to do, please, otherwise you lose respect for the other sound postings that have been made.
  13. The fact that there is now major price transparency will have an inhibiting effect on price ramping and inflation. That house viewer was an idiot, though. If you are negotiating a discount it doesn't work to trash like that, people withdraw from the negotiation, as the house vendor did. End result was no transaction, so what was the point of wasting people's time?
  14. In my time I have bought and sold 3 houses. Sold up in the summer of 04. Now renting and keeping a gimlet eye on the market. Ready to buy if the right property at the right price emerges. So I feel qualified to comment. The most significant factor that was not here during the last crash is the ease of information flow - internet and land registry prices. Last crash I was barely aware it was happening as there was a constant barrage of "now is a good time to buy don't miss the boat" stuff. Now you get more balanced comments and hard facts from LR.
  15. Whilst in agreement with Sledgehead, it does look a bit trollish. These poor people are having the scales removed from their eyes - there is no need to jeer at them. It is a bad enough shock for people when they realise their dreams are built on sand - I think being overly combative doesn't always win the argument as people just switch off - the debate on that board now is "Is Sledgehead a troll" rather than "House prices are dropping so we need to be realistic"
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