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House Price Crash Forum

Peter Hun

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Everything posted by Peter Hun

  1. Because EA's ******** you - they serve the vendor - not the buyer. These other interested parties don't exist and can be ignored.
  2. Is it ethical to make money on a house sale or purchase? Either one or the other will be making a profit out of the transaction, the other, a loss (at some point in the future). This is the whole basis of the property speculative bubble, morals don't come into it because neither side has any.
  3. Fermented fish is common is Sweden. I bought a can of it and left it in the fridge for a couple of years before dumping it. Its actually banned from aircraft as the cans tend to explode and the smell takes the plane out of service. Its consumed with large amounts of Vodka. I suspect the Icelanders really do eat some of these dishes.
  4. Rice, beans, tinned meat and fish. I've built up several months supplies over the past three years, including cooking gas. I can switch to Calor gas at home very quickly.
  5. What relevance does the United States conversion to socialism have to do with the state future of capitalism, its not as if they invented it or do it best and this is a UK web site.
  6. Not, leverage, but http://www.telegraph.co.uk/finance/newsbys...prise-move.html Also, the June figure is out of date as they raised 4.5Billion in July. http://uk.reuters.com/article/businessNews...I71108720080918
  7. The figures for Barclay's have changed since June due to purchase of Lehman's - an shareholder injected more capital. The result is that Barclays are now the next best positioned bank after HSBC in the UK.
  8. Yes, move it. Personally I'm sticking with the large building societies.
  9. Thats impossible, there is a significant part of production that becomes uneconomic below $70. When the price falls below that there will be shortages again which will shore up the price. Even with all the talk of a crash oil is around $90.
  10. Just think of how much domestic strife a 5 year period of negative equity will cause.
  11. Why should we, or they care? They already $99Trillion of debt Since they rejected the first bill 70% of people contacting their senator have supported the buyout. $1trillion was lost off share prices in a few minutes. 700billion looks cheap (but then, thats just the starting figure)
  12. 45, Business Consultant Living in housing association paying £320 per month no debts, no mortgage etc.
  13. Yes. I should have said, friends. They all ridiculed her for suggesting it. Poland is also dependant on Polish-American buyers and retiree's, both of whom suffer with the great rise in the Zloty against the Dollar. The Dollar exchange rate is so bad that her American Uncle has had to come out of retirement because his Dollar denominated pension (he was a prison corrections officer) is insufficient to cover his expenses. The crash will hit Poland soon. It has become more expensive to buy in Poland than Germany, which is another sign of craziness. Check out www.polishforums.com for English speaking discussion about Poland.
  14. Social housing is allocated to people like NHS staff, teachers, and Police. I live is social housing and my neighbours are the best I could every expect, unlike the tramps that come and go in the private houses opposite. When you live in rented accommodation for a year why should you behave as good when you expect to spend a life time there?
  15. Average London salary is actually over 50k. I've already seen property (good quality) go for 45% discount from peak (and from a property on the market on the same street). So bargains can be had. My bet is that prices will fall 60% from peak and stagnate for a few years (same as the last crash).
  16. A friend of mine made 300% profit in four years in Krakow Old Town. Anywhere you see prices rises like that are best avoided. Another indication of the crash potential of a market is when my girlfriends friend think its a joke if you tell them that prices will fall.
  17. A selective pick of dates to match his other stupid points. Try using 2003 and today and its a different story. Especially as house prices are going down and will continue to. Buy a house in the next two years and it will definably, without a doubt, lose a lot of money, certain shares will rise in value if you choose carefully. He could also add another point 11. A house buyer in August 2007 will have to wait ten years to see his house return to its purchase price in real terms.
  18. The ignorance of people when it comes to banking is amazing. Now, I hate the bastards who got us into this mess and would love to see them hanging from a large number of trees. However, the situation isn't as trivial as a few banks going bust and a few trillion dollars that this bailout will cost the US taxpayers (BTW, this is a UK website and British Banks would have got £95billion from US tax payers so it would have been a stunning payday for us in the UK) The real problems with closing of the credit markets will mean than any business that relies on credit to operate will not be able to get it. So for instance retailers, factories and many other businesses will have to simply close. The amount of money that is in the credit system is beyond all means of any government to cover. The US has at least $54 Trillion dollars of credit (A Texas Fed Res officer put the actual figure at $100Trillion). US GDP is $14 Trillion. If you think you can live without credit, repay your mortgage, loans and credit card debt today. And while you are at it everyone else on the planet will have to do the same. I can do that, I have zero debt. Surprise, surprise not many people can, especially in the USA and even more so in the UK with is one of the most heavily en-debted nations in the world. The real blames lies with human greed and it applies to anyone who has any sort of debt. The financial system exploits that greed and profits are there to satisfy greed of the banks. The banks are regulated by the governments and they are ones who should take the blame. Gut the banks and their highly paid staff by all means, but the world needs this bailout and others like it no matter the cost. We in the UK and the USA have been spending the money these crooked banks have been engineering for years.
  19. Then don't come here if you don't like the forum. I, like many people, are offended by posters who spout how wonderful Dubai is. I'm sorry, but there is nothing there and I believe in personal freedom, something that you won't get in Dubai.
  20. Well for many people, Costa Blanca IS Spain
  21. I didn't say you are a salesman of property, in fact I suspect your argument is partly patriotic towards Spain The Spanish have a tendency to boast about their country and defend it regardless of the economic facts. I've read articles on the Times with dozens of Spanish comments talking up their homeland. I have read some of your earlier posts (about right to buyers and pensioners) and merely replied to you comments about those sort of people buying in Spain. You used the 'Mable with 300k cash' as a reason why the credit crunch wouldn't matter. You also claimed that the Spanish haven't been suckered into the property bubble. Both assertions are wrong, Spain is going to crash - together with property prices and it will affect the Spanish and foreign buyer. I'm very happy you and your friends are enjoying life in Spain. If you bought many years ago it was cheap and the right decision, today however its going through a period of being a bad place to 'invest' in property. I have never bought property myself, I think 'property investment' is for sheep. I'm ecstatically happy that the property market around the world is screwing up and so you should be as it will keep the'oiks' away from your Spanish idle. But don't try and make out everything is fine in La-La land. “High prices, poor services, and criminal practices.” http://www.spanishpropertyinsight.com/buff/?p=232 That seems to be the Spainsh attitude. The media reporting corruption - not the documented and heresy cases of corruption. European Parliament orders another report on Spanish urban development practises Trust is virtually impossible to win back
  22. You can try and be the one man sales force for Spain if you like, but it won't work. The economic facts will and are having an affect on Spain. The "Mable's" with 300K cash will disappear due to the property crash. Even if they do come they will have 150k and be faced by a 20% rise in the Euro in the past month. Your 'right to buy scum' will be facing with the same property depreciation and cost of living problems in a suddenly much more expensive Euro Spain. Pensioners who are trying to live on Pound pensions are facing yet another hammering on their cost of living.The Pound is going down another 10% in the near future by the way. British based property owners in Spain are going to look at the rise in the Euro and their increase cost of living and think now is a good time to sell, because things are not going to get better in Spain for years. Spanish banks are in serious difficulties as are the Spanish people who are in almost as much debt as the British. The cost of living will rise dramatically in Spain. Tax income from property has sustained it and that has fallen 75%, the Spanish will tax property owners somehow to make up their deficit. For me this is music to my ears, I'm paid is US dollars and are cash rich and just waiting for the bottom of the market (which will be long and slow to recover) because I'm not interested in a 'investment' in property but somewhere to live.
  23. Yes of course we will see a world wide property crash. Besides the lack of affordability, banks simply no longer have access to the funds to finance the bubble . No money, no mortgages, no property bubble.
  24. Very interesting post - but you are wrong about the Spanish, they have a very high level of debt at variable mortgage rates. The Spanish themselves will be very badly affected by the credit crunch.
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