ad9898

Sh1thole, £30k tops. I'd perhaps give £185k for the whole building, but I'd have to think about it.

People have this idea that China are going to be a monolithic economy, bigger than even the US has been over the decades. It's not going to happen, I've been studying peak oil (and energy in general) for the past 6 years. The West's whole 'economic idea' is built on cheap oil, that oil will be all but gone within 5 years, China came to the party too late, it's last orders at the bar I'm afraid.

Gets me, that room is probably only 15 feet long, yet the ultra wide angle lens used makes it look about 30. More lies and deception from EA's, who would have thunk it

Although I own outright for about a year now, I'm still happy to see prices fall. The market really is on a knife edge, so many extraordinary factors are in place yet still prices are falling. The question is what happens when these factors disappear...... I definitely wouldn't want to be overleveraged in housing at the moment.

Lolz @ Sibley's comment, wreaks of desperation. I don't normally take pleasure in others misfortunes but if these kind of people go down I only got one thing to say................. bhahahahahahahahaha,

Neither would I tbh, it took me 10 mins to upgrade, which was about the same time as ordering any other phone. Havin said that, I haven't got an issue with someone who wants to queue for a week, upto them I guess.

Don't really get the 'hate', I bought an Iphone 4 the other day when my contract expired on my old phone, it seems pretty good, has some good features and I could afford it without the use of a credit card, so what's the big deal. If you don't like it, don't buy one, simples. They aren't forced on anyone.

Surely only a complete knobhead with sh!t for brains would even give this a second look, it's just so plainly obvious to all but the hard of thinking that we are approaching the peak of 'return to normal', fundamentals through the next few years are absolutely dire. You surely have to be a complete **** to borrow large sums of money when BOE base rate is at rock bottom for a product that's laughabley overpriced. We're going to make Greece look and investor's paradise in the not to distant future.

Just to be clear, I made a mistake on the RPI figure in the title, I forgot to put the '3' in after the point. It's actually 5.3%

The vice is starting to close, in my opinion we are nearing the peak of the 'return to normal' part of the bubble graph, especially seeing the ridiculous headlines we see today in the Express. Imagine the impact of historically 'average' IR's of say 6-7%. When the house built on sand starts to collapse there is going to be utter carnage. Imagine being on the average wage, paying £1000 per month mortgage on a skanky 1 bed flat in an area where the average rat wouldn't want to live. The only question is, how fast is the vice going to close ?

Inflation up again, IR's seemingly fixed at 0.5% as any rise will collapse the economy (read housing market). Times are going to get interesting for the house of cards that has been built on the back of cheap and easy credit.

But...but, it's only a blip. . I'm just wondering how long this charade will carry on for before rates have to rise. With essentials rising and wages, certainly in the private sector stagnant, I see an almighty housing crash in the near future. It's ineviteable, and of course it will be all so 'unexpected', and no one will have seen it coming. The current economic policy is unsustainable, which isn't surprising really when we consider that more or less everything our current human civilisation is built on, is absolutely unsustainable.

I can see it now............. Dear MSE, My husband (dumb) and I (dumber), have got ourselves into trouble........................

Oh how I lol'ed at this, it's funny but sums up the situation perfectly.

Agreed, however again the coal to liquids program isn't particularly efficient or clean,,also coal in its natural form is nowhere near as transportable as oil, I think we take for granted how many millions of barrels a day flow through pipes...... this is the problem, locally all these ideas work and are fine, it's when we scale them that the problems arise.

Excellent, we are saved, warp speed Mr. Sulu.

A good reply, the only problem is none of these energies scale like oil does with it's massive EROEI ratio. Basically the human race in its current size and form is fooked without nuclear fusion.

No real surprise this, UK output peaked in 1999, what's more of a concern is the world output peaked in 2008. All this talk of house price growth etc... is utterly irrelevant, do people really think economic output can continue to rise indefinitely in a world of finite resources ? What we saw last year was the start of 'The Last Oil Shock', we will be on a 'saw tooth plateau for the next 10 years or so then the human race will start to face a misery that will be hard to comprehend.

Ok fair enough, can't argue with that. But we must remember that nearly 300,000 people are in at least 3 months arrears, hanging on for dear life and that is with those temporary measures in place that I've mentioned. Add higher taxes, public spending cuts and the general depletion of any spare income as the election come and goes and path ahead seems clear. You can't convince everyone of the obvious though I guess.

Yes, when you do something temporary to hold a certain course, when you stop the 'temporary thing you are doing', normal course is resumed. ZIRP and QE are temporary, when either of those change, and they surely will, the effect on house prices will be negative. A change in either of those temporary measures will raise rates, raising rates will cause repo's and change sentiment, isn't it obvious ?

Who cares about the next 2 years ?, if you've just taken a mortgage out for 25 years, 2 years of low rates is feck all. The bottom line is the only people who will/are really benefiting are those whose mortgage finishes within the next 12 months. Those who will not benefit (to put it mildly) are those who have just stretched themselves to buy 25 years worth of debt at record low rates..... these people are highly likely to be in for quite a shock. We all know that house price falls have been deferred, that is all. The fundamentals going for forward are grim. High taxes. Rates that can only go one way. Inflation in everything bar wages. (Oil has reached peak production, when the recovery comes, so will inflation) etc.................

Why isn't mine there, would have got a few votes surely.

Been thinking about this mayself for a number of years now. I see people going back forth to work, school.........etc, like nothing is any different or will be any different....... they are so wrong, but they have no idea, they suck up only what the politicians want then to know. We are are fooked, no doubt. In 3 decades time the world will be unrecognisable, and the change has already started...... watch the petrol pump price when the global economy lurches out of recession, and then watch as the pump price puts the world straight back into recession. The human race's model of exponential growth is unsustainable and what we have seen in the last 12 months is the beginning of the end.

Glad to see Freetrader putting some reality into the situation again with his chart. The indices rising are seeming to mean little or nothing in many areas, as prices continue to be reduced on Rightmove and new property being put on cheaper than it was last year. It's mostly all talk and froth, the reality is entirely different than what is being portrayed in the media.

Good point, but I think that is the only part of my post that's likely to be wrong.