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House Price Crash Forum

Blaketon

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About Blaketon

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    HPC Newbie
  1. That's what thought Jim boy. Especially if HMG comes forwarded with ISA's for FTB's ! D'ye see what I mean ?
  2. What IS a first time buyer ? If you have sold your only home and are now in rented accomodation waiting for the property market to recover (long wait!) and you buy next year, say, are you categorised as a FTB ? If you have owned several homes in the past but do not own one now and then buy later are you a FTB. Any experts out there ?
  3. Hello. Is there a model of how a crash unfolds? I would imagine that there will be a rump of properties left on the market as new ones come on at lower prices. ( "Priced to Sell". ). New builds should be price reduced first as they make such a whack on them they could slash their prices and still make a profit. It's greed, fear and necessity. Greed - get high price, fear - get out while I can, necessity - I must move or must sell - are some market drivers are they not ? Blaketon
  4. Hello Gormless. Property Snake does list length of time on the market. With the current conditions time on market (TOM) will increase. But is there not a point at which, in a given area one buyer says sod it and makes a big reduction triggering an avalanche effect. Do EA's benefit from keeping prices high ? Blaketon
  5. Hello. Regularly browsing estate agents sites for 5 years I have been struck by how long some houses remain on the market. The longest I have seen so far is over three years ! (Two price reductions). I can think of a number of reasons for this. 1. Price too high 2. Bad survey (physical defects) 3 Neighbours from hell 4. Poor location ( traffic etc.) 5. Owners detached from reality. I wonder if there is a World Record for The Length of Time A House Has Taken to Sell ? Blaketon
  6. Hello Young 'un. Nationwide fixed rate bonds allow early closure with a loss of 3 months interest.
  7. Hello Tulip. The answer is given in the collapse of B and B and its subsequent nationalisation, the nationalisation of the Rock and of Fannie Mae, AIG, and the socialisation of US capitalism. In other words the state is shown to be more powerful and more secure than the free market. Similarly, all building societies which underwent privatisation encuraged by free-market Milton Friedman looniomics are now sunk, whereas Nationwide goes from strength to strength. Other safe places for large cash sums are a) NSI (low rates) Northern Rock ( soon up to its max intake of savings) . I would not touch Indian, Icelandic or Irish banks. If you are with a Brit bank all your cash is secure as the Government (unlike the Marketing Man's Dream Party) has warranted that all consumers will be proteced in extremis.
  8. Banks have gotten into trouble by borrowing to lend. Nationwide doesn't do this. It loans on savings. Since it doesn't have debt - as far as I am aware - and has no share holders it MUST be in a strong position in the current crisis. Furthermore, since it is not listed shorting cannot happen. All this must mean that NATIONWIDE IS SAFER THAN ANY BANK.
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