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House Price Crash Forum


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About quinnbear

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    HPC Poster

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    Norfolk, UK
  1. What the hell is a 'life tenant'? IS there such a contract? Even council places are not 'for life' anymore (no more passing them down the generations, and likely to be income checked in the future). Very strange...
  2. I heard something the other week on R4 about fear of HTB creating a new housing bubble. While it is good that at least the bubble is acknowledged, I still get annoyed with the assumption that the previous bubble has burst/deflated/disappeared. HTB won't create a NEW housing bubble, it will just stoke up the current one. Grrr... There seems to be a lot of positive sentiment around housing from the usual sectors. I was explaining to the wife that the Tories don't need a recovery in housing - they just need the voters to BELIEVE that there is a recovery. And it doesn't help that Britain seems to
  3. Same here. I got married in 2002 and was then thinking about buying. We were looking at places at around £100-120K and in the year we saved really hard and put £18K into our deposit these kinds of houses went up by at least £20K (and even more in many cases). At that stage I thought I would step back and let the silly prices sort themselves out. After all, even before discovering HPC, I reckoned that those kind of price increases were not sustainable... It'll only take 2-3 years I thought...
  4. Ah, I recall the old days when a 'rogue trader' took days/weeks to lose £800 million. And he got sent to prison. Such amounts seem like small change to the figures that float around the news nowadays. Would the person who wrote the algorithm get sent to prison? I guess the difference would be between a bad algorithm and an illegal algorithm...
  5. I guess you need to have an important job to justify a long commute! I used to do a ten mile drive in London and it was about 40-50 minutes (or 1h15 on a bad day). My current commute in the countryside is a pleasant 20 miles in half an hour. But I really wouldn't want to do more than 30 minutes. There just aren't enough hours in the day to waste commuting (but maybe it's because I'm getting older...)
  6. I think house prices factor in there somewhere. It seems in this country if you pick at most issues you find house prices lurking behind the scenes. I saw someone on channel 4 news today complaining that her house hadn't sold for 18 months, and none of the others in the hamlet either. That could well be due to the looming threat of nearby trainline, or perhaps it just reflects the situation in the rest of the country? There are bungalows and houses that have had the same For Sale sign since I first moved to my current area in May 2010, and I am sure the HS2 link is NOT coming anywhere hear N
  7. Presenting all those Express headlines like that is rather scary. I find myself thinking I ought to rush out and get a house, before I miss the boat and don't get on the housing ladder (so long as I can ignore the mixed metaphor) [edit for smelling mistake]
  8. Are businesses able to run with perpetual debt? Surely if such businesses make a 'profit' this has to set against debts The view used to be that govt debt was for the important business of running the country (or fighting Napoleon or other such important matters). Is there any developed country in the world that ever stands a chance of ever paying down its actual debt? In one sense such borrowers (like junkies) are the best kind since they will always be paying, forever, so long as they can manage not to overdose on that pesky deficit. Plus, govt have the benefit of being able to (forcibly)
  9. Absolutely. I think the 'equity withdrawal' is one of the biggest scams of recent years. It's all in the wording. In the old days it was simply called 'remortgaging' (or extending your loan using an asset as security) and was generally viewed as a bit desperate (you know, something like small business owners who were struggling to keep the busines afloat would remortgage against the value of their house until the business turned a corner...) The 'withdrawal' taps into the idea that people have money locked up in their property and they are simply releasing. And people fell for it. Just thi
  10. No that's the old model. Spend a wodge of money to develop more: -Pound shops -Tanning salons -Coffee shops -Pawn brokers -Betting shops (at least 9 are needed on every high street) -Mobile phone shops -Estate agents -Nail salons That's the future right there. Then we can build a new world in the clouds where we can all wear bodysuits like in Logan's Run (but not fat people obviously 'cos that would be quite unpleasant to look at). Down in the bowels of the earth minions can manufacture things, while we look down disdainfully from our cloud of 'service industry utopia'.
  11. That's a classy place! I was reminded of that Lloyd Grossman programme 'Through the keyhole' (before he made his fortune selling jars of cook-in sauces). He would open the door to some s*****y pad and say (in that rather odd accent) 'Who would live in a place like this?' I've just looked again at the photos. It is truly hideous, I think Huggy Bear would refuse to live there on the grounds of it being too ostentatious.
  12. I can't help feeling that the banks are waiting to repossess a lot of houses. Whichever bank starts will probably do better since it should be able to possess and then sell on the property before prices nosedive. Once all the other banks start joining in there will be a race to the bottom. We no longer have Gordon Brown publicly asking the banks to show forebearance to "hard working families", and the Conservatives have a track record of housing crashes.The low IR just seem to be delaying things, not like the good old days when the govt set the rate - stick it up to 10-13% and see how that wo
  13. Yeah, that tickled me too! Luckily I checked and my five year old was tucked up safely in bed, and since we live in a tiny village in Norfolk I don't suppose there was much she could have gotten up to (possibly pestered some sheep?) It is a sad day when the acting police commissioner (or whatever he is, it's quite hard keeping track of the whose in charge of the Met nowadays) has to tell the idiot parents of inner city kids: "Please can you recall your feral child." Time for a curfew!
  14. Isn't there a joke about car insurance along the lines of "why do I need fire and theft cover? Who would steal the car if it was on fire?" Surely the trusty mountain bike is the preferred mode of transport for the new generation of 'freedom fighters' (well, that and new trainers 'liberated' from the JD Sports.) I think if it carries on for too much longer they might want to put a curfew in place, never mind closing down public transport...
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