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House Price Crash Forum


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About huntergatherer

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    HPC Poster
  1. There was a good Radio 4 programme a few weeks back; 'Ireland-from Boom to Bust' On there someone realised property values were massively over inflated when unit area floor values (Euros per square metre) in Dublin were greater than those found in central Paris. (the cultural capital of Europe) I asked somebody from Ireland, who has been working over here in UK, how was there economy? They said it was booming - they obviously have not been home for some time. Booming? - exploding, loud bang, destructing, being destroyed? Probably what they meant.
  2. I think many couples were pressured into buying the big family house (and big mortgage) or rather marrying the house first (and big mortgage) and then have a family later. I believe there are examples where having a baby in this situation is seen to be a 'way out' of their underlying mortgage worries. Further down the line, when financial reality kicks in, family stress leads to a break up. The so called freedom of ownership is actually enslavement to debt. A newborn could be born into slavery debt or have more freedom where parents are renters.
  3. Saw an advert in a city newspaper in the south east for estate agent jobs; negotiators and mortgage consultants both senior and junior positions available (experience not necessary for junior positions) due to the rise in the housing market they were expanding their business in the south east. Do not know if this was a fake advert but for was for known local firm. Risky jobs and risky business in these times.
  4. Thanks for your posts RB. Interesting to see Portsmouth on list. Down 17.4% pa. 11.10 % per quarter. Portsmouth in the relagation zone soon to be followed by bankrupt Southampton. Both areas very dependent on retailing and services. Both Ports and Soton very badly affected in last recession. Good bell wethers for South of England.
  5. I agree with this. ('Until the last bear turns bull' etc.) There is far too much 'smug' money still sloshing around or rather liquidity from 'easy money' made in the housing boom that will take time to be consumed. Problem is much was made 'easy come' but much will be lost 'easy go' particularly with low interest rates around. The belief in the property market as a winner is still firmly in grained in peoples minds and there are many still to be shaken out. Of course no one really knows how far prices are going to fall but it will be a long way.
  6. I got out of my CHF long against GBP on 9th March a few days before the devaluation scare @CHF 1.58 to £. Was pleased I did as now CHF 1.71 to £. Up 12/13%. CHF GBP profit 33% after costs. Averaged in at towards end of 2007 when around CHF 2.2 to £. Also out of YEN GBP at 54% profit and Euro GBP 31% profit. Been a good time to purchase whilst GBP strong recently.
  7. There was a relatively small global surplus in cereal output last harvest enough to depress global grain prices. Estimated reduced spring plantings in the US combined with recent droughts in China are currently believed to be strong enough factors to favour short supply.
  8. Dow closed down 186.29 points at 7789.56. Down 2.34% at end of trading today.
  9. Gold up 6% from low to high. Now $945.5 Looks like you missed the boat. The new uptrend is underway.
  10. Sold off the last of my CHF long earlier this week for 33% profit just in time. Phew!
  11. Private sector individuals include wealth creators who get their living from the free market and not through a wage packet. High public sector pay has priced out workers who are left with the choice to starve or go on the dole. High levels of public sector investment have been absorbed by higher pay handouts which have extended the credit boom and its consequences.
  12. I think people in the private sector are more likely to starve. Think about it.
  13. You really ought to have bought at least two years ago to be on the safe side. l
  14. Of the many 'new' bloated public sector 'jobzilla' mass jobs 'created' by the Labour government a staggering proportion (9 out of 10) have been taken by women. Many of these jobs are very well paid and are economically unproductive and a drain to the private sector and tax payer. Many of these jobs are not necessary and mal-investment of resources. Serious moral hazard. Just seen the news. A Norwich woman council worker earning £52,000 pa has been sacked after being involved in evicting pensioners and taking low cost housing away from them for their own use. They were paying even less than the pensioners @ £48 per week. A number of council workers were involved. Shame on them. Serious moral hazard
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