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House Price Crash Forum

gerkin

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About gerkin

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  1. There seems to be an obsession with some people to own a million pound house even if it is beyond their affordability. At least in this instance she is having some serious thoughts about affording it when circumstances change, plenty dont and just plough through to show off to their relatives that they live in a grand house. There are already murmers that the prices are cooling off and soon some of them will complete their over priced purchases and then will see the houses come on at much lower prices and then it will hit them that they paid 50K more. There will be plenty of tears in the next
  2. An unhealthy rise like this almost always leads to an almighty crash, its coming, the Ponzi always collapses. But, this time, it is going to leave a trail of devastation in its wake. Half the population will not be expecting it and it will take years to recover. When I see terraced houses selling for 250k, when they sold for 150k two years ago, I laugh to myself. Those poor souls are in for a shock of their lives and they do not know yet. This kind of crash scenario would scare me usually but this time I am ready for it, I have planned my strategy and I will have no sympathy for the lambs
  3. This government has no idea what kind of monster they have created with this furlough nonsense. The shock will be felt towards the end of this year.
  4. Is this a joke post? Of all the threads I have read on here this one takes the prize.
  5. A lot of you seem sceptical that this could be the top. This is probably due to being proved wrong several times in the last decade. But this definitely feels and seems different. when prices go up in a natural order they stay there for a long time. When prices go up in a completely artificial and mania induced way, they tend to crash back down hard. We are in this phase now. How do I think so? Easy...watch what the boomers do. Boomers tend to hold on to assets till they die. The only time they decide to bail is when they think their asset value has gone so high that they will never
  6. I am seeing houses coming on to the market that would never have in a normal scenario. Houses that have been in possession for decades. This can only mean one thing, the boomers are cashing in and exiting the market. This is the top, I can feel it. I am confidently predicting a huge crash in the next few months. Hold on to your hats, this one will be pretty ugly.
  7. I have to say, the last few weeks has been manic. You could literally put your shed on market for 100k and there would be an offer. The stamp duty extension has led to peak insanity at the moment. I have not seen anything like this for 20 years. All of this happening during a recession, pandemic, job losses and job insecurity, half the country on furlough. The mind boggles. It’s like a strange force is in action. This does not seem limited to UK housing. Bitcoin, stock markets, digital paintings, IPOs everything is surging upwards as if trillions are suddenly available to throw at investm
  8. https://www.mumsnet.com/Talk/property/4168641-Am-I-a-fool-to-sell-my-flat-in-London-for-10k-less-than-what-I-bought-it-for-in-2017 The penny is dropping for London flats. I do not know who is the bigger fool here, the one who bought a poky flat for 695k or the one who wants to buy now for 675k. What goes through the mind of these people? Are these just money launderers wanting to park their cash into assets in London?
  9. This exodus is now underway snapping up any remaining housing stock https://www.mumsnet.com/Talk/property/3997044-We-have-had-an-offer-but-it-needs-to-be-approved-by-the-embassy-Any-experience
  10. I sold my 2 bed terrace which was literally a shoebox for 155k in 2015. It is now on market for 255k. It is so tiny you cannot fling a cat in any direction. Even then to afford it you needed to earn about 30k. In 4 years the wages haven’t really gone up but to buy that shoebox now you have to earn 50k!! Bonkers really. I thought I got a great deal on price. A house like that should cost 100k at most, a penny more is daylight robbery.
  11. Everybody in this country is looking for the next get rich quick scheme. It is astonishing how Ponzi schemes flourish under these circumstances.
  12. An acquaintance of mine sacked around 8 of his employees and hired all his family members and furloughed them all. With all that cash he is planning to get into property investment and crypto 🤦‍♂️
  13. Meanwhile the zombie furlough population has been told they can keep drinking Stella all day and enjoy 2k per month free till September. Absolutely criminal. There will be serious consequences of this which will only become clearer in a couple of years
  14. Matt Hancock next? why isn’t there any accountability for government contracts?
  15. Why are they trying to sell??🤔 Is it so that all this misery suddenly is someone else’s problem? It really annoys me that house owners in this country try to sell off the house as soon as problems surface so they do not have to fix them. I am in my second home and both times I have found issues that should ideally have been fixed.
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