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House Price Crash Forum

STRLondon

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Everything posted by STRLondon

  1. Fitch again looking through their rear view mirror
  2. the problem is that the public sector is 56% of the economy and we live in a democracy, onwards and upwards for the public sector - to infinity and beyond
  3. he cut in VAT they did looks crazier by the day now. What on earth were they thinking.
  4. As the price goes up people will use less and less, the market will sort it out. In the UK I expect once Oil breaks the 100$ a barrel mark the Government will have to roll back a few recent tax hikes in petrol to control inflation, otherwise we are going to have a general petrol strike across the board in the UK. We could stomach 150$ a barrel if the government didnt tax it to death, but in that case they would have to tax something else to regain the lost revenue and by applying less tax to petrol they would increase demand and therefore push the price a bit higher so a bit of a false economy. I guess the UK isnt a massive player in the world oil useage stakes though so it probably wouldnt have as big as an impact as say america altering taxes on petrol. edit - when the price goes up, watch out for windfall taxes on petrol producing companies in the UK.
  5. Any protest should involve students, they have loads of free time, are one of the worst effected groups (although they probably dont realise it) and can gather quickly.
  6. I think your reading a bit too much into it tbh.
  7. Ours was up 1.2% in Bromley, but I couldnt help but think they had me in the wrong council band, might be something Im going to dispute. The council bands were set almost 20 years ago now, I can see Labour or the conservatives changing the banding after the election to be more "fair". It would make sense to base this off historically high house prices if their intention is to get the most money off of people.
  8. The unemployment figure is so misleading, I just dont get how the "markets" can rally off mis-information, you would think that the clever money would see through the spin.
  9. UK unemployment in further fall "The number of people unemployed in the UK has fallen again, leaving the jobless rate at 7.8%, figures show. Total unemployment stood at 2.45 million for the three months to January, down 33,000 on the figure for the previous three months. But long-term unemployment, covering those out of work for more than a year, rose by 61,000 to 687,000. The number of people claiming Jobseeker's Allowance fell by 32,300 to 1.59 million in February. " http://news.bbc.co.uk/1/hi/business/8571625.stm 1, 2, 3 and your back in the room
  10. That sounds like a really good discount indeed, when i travel I usually buy the flights and hotel seperately and it never costs more, theres always a good deal on.
  11. the reason why housing is such a good investment is because its highly leveraged but you never get a margin call. Try leveraging 10+ times in shares and youll blow your account and get your shares taken away from you. Make a stupid decision on a house and youll get to live in it forever if you keep up the interest payments even if you had no money down and bought it all with someone elses money. Better still, bought everyone elses homes with other peoples money and got them to move in and pay off your mortgage for you. Genius. Ripe for abuse.
  12. "things" are getting more expensive, buying "anything" is better than cash this year as the government cannot produce things as easily as it produces currency out of thin air.
  13. You can still make a ton of money, you probably wont "beat the market" though, but you never know. try advfn.com for charts and discussion, and share.com for getting in and out. I use igindex.co.uk for shorting shares but it seems everytime theres a sure fire short on, you cant short that stock which is really annoying.
  14. Whist there are buyers around right now, it only takes one unforeseen event to throw a spanner in the works. When we sold in Summer 2008 we had a good relationship with the buyer and I felt that this had been a key factor in getting to completion. If we had fallen out along the way you could force them to pull out, like we did from our purchase in 2008 when the seller became difficult. Be careful about messing your potential buyers around, they may play hardball after the headline figure has been agreed but as you say, its not money in the bank yet and could cost you a lot of stress and heartache over the next 2-3 months should your buyers decide they would rather not give your sister the money.
  15. I was looking at the land registry website to see how much a flat I am buying might have increased over the period it was last sold. http://www.landregistry.gov.uk/ I also wanted to see what the difference between detached, semi's and flats might have had over a period of many years. My thoughts were that flats would have fallen by a larger percentage, or that prices would have least fluctuated over a period of time as types of houses came in and ot of fashion. Now this might not come as a shock to any of you, but it certainly did to me. There is alsolutely no difference shown on the land registry website between average Detached, Semi-Detached, or flats. Every month the price changes are identical between all types of housing. Have a look in leeds, or manchester, you would expect to see those 50% reductions on flats and 20% reduction on houses, but you see the exact same percentage drop for all three property types. Is this some sort of joke?
  16. wait... who is getting a kicking for this? is it the people who took out the mortgages or the company which bought the homes and rented them back to the owners? I fear its the latter, if so, is this investigation hoping to stop companies from foreclosing on people who missed payments? How is that illegal?
  17. http://news.bbc.co.uk/news/business/market_data/currency/11/12/intraday.stm last night Sterling held at 1.525 for six hours in a pretty flat line. I bet someone was trying to defend the £ and lost, perhaps the BoE? Look at how straight that line is on the bottom side, someone must have been buying all sterling at that price until they became overwhelmed and it fell through that support. I cant imagine anyone else but someone with a vested interest as the BoE would defend sterling in this way. Whats everyone else think?
  18. we should all take wheelbarrows to work in protest
  19. We made an offer, left it a week, upped the offer, left it a week, then they accepted it. You cant rush the offer process or you just look desperate and even though you wont pay more, they might think you will so will wait. Everyone knocks offers back, even good ones, time helps to sort out some middleground. If you look overly keen they will use it against you, sad but true.
  20. the one your paying. What some people do, is when the valuation is 160k, they say they are paying 160k and the seller gives a kick back which the buyer claims is there deposit. So basically they get a 100% mortgage at 140k and dont have to supply their own deposit. You hear alot about from BMV (Below market value) rampers using BTL.
  21. to unwind QE they would have to tax more or reduce spending to create a pot of money, then destroy it. Its easier to rub the lamp and get the genie out than to get the genie back in the bottle
  22. ASKING prices have risen, not house prices, stupid reporting
  23. The market has already detached itself from reality. We havent got a recovery, but we have nominal gains based on increased monetary stimulus. The nominal gains will start to get erroded by increased costs of doing business in inflationary environment. Recovery is based on GDP, GDP is based on more is better. How are banks going to increase their profits this year without first crashing the economy again? I see them shorting the market once more. I just cant see how they can make massive profits without big swings in the market. They need to get the DOW past 12k on the next push from here to make serious cash, or just crash the market down again and rise to these levels. You cant make long term projections for the market, theres too many factors to consider, but without more money pumping, and credit expansion prices cannot increase.
  24. read the small print in the contract. the contract has a period of which the estate agent gets the fee. He might also have had to have found the buyer, but depends what the contract says. Some contracts are overly defensive to stop this happening, so make sure you read it very very carefully.
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