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House Price Crash Forum

TheUnknown

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Everything posted by TheUnknown

  1. Geeez - they set a time limit...then say the gavil hasn't come down yet..........then say too close to call Am I toooo English to get it????????????? It was Nay
  2. Nice house in Texas - but imagine the cost of Windolene????
  3. 3.5 x joint??? All banks will have to be far more prudent in their lending criteria, which would not only include house mortgages but also commercial/industrial lending. With companies finding less customers to purchase their goods, compounded with the rapid devaluation of sterling, we have a perfect recipe for unemployment rising to levels not seen for many, many years. This also has a massive snowball effect on our economy as a whole, from which virtually no part of society will be immune. I think banks will go back to 2.5 x highest salary and 1 x lower. When I was a first time buyer - over 30 years ago - that was the norm. Plus you were expected to have shown a saving commitment and had a minimum 10% deposit. I cannot recall any of my family or friends struggling to pay their mortgages, though granted no one had new furniture, TV's or whatever. However, in the late 80's I was married to a much younger man, who would not believe that property prices would ever go down. He was a very good, honest and hardworking builder, who was also a small time preoperty developer. The problem was not that people didn't want to buy what he built. The problem was that the valuers were dramatically down valuing everything and mortgages were more difficult to come by in a devaluing market place.........We lost everything! And that was nothing like this time around.
  4. Yay..well done - hope you made shedloads - shame others on this board didn't get their piece of the action QUOTE (gruffydd @ Sep 18 2008, 06:53 PM) And HBOS shares revert to true value - 0.0p QUICK, I WANT A PIECE OF THE ACTION! and
  5. I thought stuff it 4p surely the assets are worth more than that, Britains main steel maker surely they will not disappear and bought £12k of shares, within 2 years they were trading at over £1 a share. Eventually the company were bought out by Tata steel for over £1.20 a share. It basically allowed me to pay all but £10k off my mortgage, and thats only because I decided to spend a large amount on holidays and cars. Wow so you made over 250K!!!!!!
  6. It's horrible - wouldn't waste even £10.00 on a ticket....yuk
  7. Also, if tenants stopped paying rents to landlords, then who would want to become a landlord? Then where is your precious rented home availability? I used to be a landlord many years ago. I certainly do not consider myself scum - now I am a tenant and have an excellent relationship with my LL who, incidentally, hasn't put my rent up for four years. I would never consider stealing from him - which witholding rent would be.
  8. I have a much simpler way of working this out. I looked at Romsey, in Hampshire. Going on to houseprice website I looked at how many properties had been sold so far in 2008 - it is 111. In the same period (1st Jan to 20th July) of 2007 - 374 were sold. Now looking at Right move there are 261 properties for sale. So without anyone else putting their houses up for sale we already have over a years worth to sell going by sales volume for 2008. Does this make sense - just seems a very easy way to do it and compares like with like.
  9. I don't think I should have read this at bedtime....
  10. But aren't you all forgetting something - the amazing music (Pink Floyd, Genesis, Free to name but a few), most people leaving school with a smattering of GCE's (CSE's) walking straight into a job and being happy to work their way up from the bottom? Add to that the fact we almost all could expect to buy our own houses, it was safe to walk through London in the middle of the night AND parks weren't 'no go' areas... Bring it on.....
  11. Strange 'everybodies_friend' is employed as a police officer in an earlier post!
  12. I think ea's have been passing this round the country, 27% now expect prices to RISE more than 20% by next summer!!!
  13. I'm not sure we ever would - or could. We str in mid 2004 and moved into the kind of country pile we could have only ever dreamt of - 30 odd rooms with a couple of acres in beautiful countryside. It's perfect for our extra large family and on an enormous royal estate where several neighbours have been renting for up to 40 years! Our landlords leave us to do whatever we want to the property and grounds as they see it as our home. We have a five year renewable lease. I figure I will need to renew it about five times to see me out.... Even if property values dropped by 50% we could never afford to buy this.
  14. And just how is she preparing her children for the realiies of life??? They are not toddlers - they should be getting part time out of school jobs and helping their mum/family. Reality checks don't come much bigger. And why move to another 4 bed detached???
  15. I feel kind of sad...for all the people who have been morally bankrupted by this whole debacle. The 'values' of our society have been so corrupted, the consequences so much far reaching than just the cost of housing - the instant gratification - the celebrity idol - the warped expectations of our youth. And all fed by lies at every level. An insipid mess and, perhaps, hopefully this will be the start of a new reality. On a personal level at least I now know I was right all along, but this is the only place I can say it. I have watched helplessly as family and friends have become caught up in this sorry exercise. A time for moral reflection and correction - I can only hope so
  16. Terrifying - if we had gone for six times our salary we would have had a mortgage of nearly a million! YIKES!!!!
  17. When I bought my first flat, about 30 years ago, the typical loan was 2.5 times main income and once times secondary income - not 3.5 of joint. You also needed a minimum 10% deposit and proof that you had been saving. Interest rates were typically 12%. When I and all my friends moved into our first homes none of us could afford any furniture (Habitat floor cushions) and begged and borrowed old furniture from relatives. You moved up to something larger when you had paid off some of what you owed and had a better job. I don't recall anyone ever having problems paying their mortgages or being repossessed. Property prices should be at that level again - so a three bed semi should be about 85 to 90k ish. I guess prices need to drop around 60 to 70% and then houses would become homes and not investments. I hope the market never 'recovers' to the detriment of normal families.
  18. We had an hour long documentary made about our family nearly four years ago by the Beeb. It is quite incredible how, even occasionally now, complete strangers will suddenly ask 'aren't you that woman off the telly' at the most inappropriate moment! We have also had articles written about us in many national newspapers, magazines and appeared on various other TV programmes. I think it's a splendid idea and certainly topical, though I would also urge some caution - not wanting to be a damp squid....but, even when we have been promised some editorial influence, the reality has always been that we most often don't get to see the piece until it's broadcast or published. We have been misquoted and serious facts have been omitted or misinterpreted etc, etc. If it happens enjoy, but make sure you are well prepared for the aftermath.....
  19. £345,000 CLICK THROUGH NOW TO VIEW DINING AREA WITH VIEW OVER THE REAR GARNDEN AND MODERN RE-FITTED KITCHEN. History date event 29th Jun 2008 * Price changed: from 'Offers in Excess of £340,000' to '£345,000' 3rd Jun 2008 * Initial entry found. More details, photographs, EPC and map available Save property Contact the agent
  20. http://www.rightmove.co.uk/viewdetails-170...18&tr_t=buy
  21. It states 'Limited Availability'
  22. No 'may be' about it. Sadly I am sure this recession will morph into an enormous depression. Mounting energy costs affect absolutely everything - just think how much fuel is required to complete any chain of manufacture and it puts up costs from raw material to end product many times over. Simply everything will be going up in price: Farmer fills up tractor - ploughs field, fills tractor - sows seeds, fills tractor - sprays pesticides, fills tractor - sprays fertiliser, fills tractor - harvests crop, fills lorry - takes crop to market ........ People stretched financially will cut back on just about everything to keep afloat - first to go will be all the luxury items, so all those industries will suffer, then people dramatically cut back all their insurances; they don't replace cars, furniture, carpets, clothing etc and so the list goes on and all those industries are affected too. Like a pack of cards falling down. Others will attempt to protect themselves by saving and not spending, so less demand equals even more industries suffering. The Bank of England has historically always tried to hold inflation by raising interest rates - which in turn makes things even more expensive to produce! Less taxes for our government to collect so who will be paying for all those 'safe' public service jobs? A grim prediction I know, but I don't think the bubble has burst, I think it is about to implode.
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