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House Price Crash Forum

spectrum

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About spectrum

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    HPC Newbie
  1. I have to disagree, we are no-where near. The reduction in interest rates has only postponed the problem and the downside momentum as you describe it is the natural course of events which, unfortunately, is both inevitable and necessary. The slide is a natural return to the REAL values of properties, the correction will only be over when those values are arrived at. A house is a building to live in and every household calculates a budget to do just that. The budget is met by money earned - wages. If the wages are restricted due to lack of work or a reduction in pay then the budget is squeezed
  2. I refer to my previous post. How could this excellent idea be extended to include the disabled?
  3. Unemployment is a widespread affliction. It is mastered by lazy slobs but devastates the undeserving. My pet hate is the disabled - at least the ones who have somehow managed to achieve the holy grail of claims - Motability. These are the people who occupy the disabled parking spaces in shiny new cars, provided and maintained for them by the government but who stroll about the place apparently unaffected by the problem that got them the prize in the first place. My definition of a disabled person is one who nevers gets out of his pyjamas and suffers from horrendous weeping bed sores. The be
  4. More importantly, what will happen when they do? will the banks who are effectively overcharging by failing to pass on the savings they currently enjoy absorb the hike? Only when the true cost of borrowing is recognised will we begin to see the true state of the house price crisis. Then things will get interesting
  5. I would welcome opinions - Are we seeing green shoots? Has it all bottomed out? Are we continuing to slide? My view is that the government and the banks remain in denial of the dreadful situation affecting the economy and want to recruit the general public to share these opinions. In the case of the government - they cannot afford to admit the mess we are in until after the next general election. In the case of the banks, they simply cannot afford to admit the mess full stop. When the truth is eventually accepted and acknowledged and the market is forced to return to the real world, i.e. int
  6. I own and run (with great difficulty) a small business, principally involved in manufacture. I get f**k all in the way of tea and sympathy. If I **** up I will be reminded by countless observers that the U.K. is no longer manufacturing base and that I should re-examine my business model. No doubt developing ideas to export to China in order for them to be copied and ripped off by anyone talented enough to position themselves as middle men between greedy western customers and impoverished eastern slaves. I am not complaining about the position I occupy, far from it. I enjoy doing what I do. I
  7. I don't have huge sums to put by, nonetheless I would prefer to invest the little I have in something more tangible than a savings account in any of the high street banks. Can anyone offer an opinion on Gold and the best way to buy it.
  8. It isn't so much a "thing" as a way of thinking readily and comfortably adopted by people encouraged to take themselves FAR too seriously in all walks of life - T.V. "personalities" famous for simply appearing on T.V., Internet businesses flogging ordinary stuff through websites which used to sell perfectly well in places called shops whilst demanding (and getting) disgusting amounts of financial backing to do so, unimaginably huge pay packets for moderately talented sportsmen, unentertaining television personalities and incompetent executives working in the various areas of the financial worl
  9. It appears to be the case that the banks do what suits them where interest rates are concerned, passing power to the Bank of England was fine when everything in the garden was rosy, as soon as the pressure was on they stopped playing the game - look at how they failed to pass on rate reductions. They are little more than money grabbing loan sharks at the end of the day, they will do whatever they need to do to get you to invest your hard earned cash with them. My personal opinion is that anyone with savings should favour an Irish establishment where you at least get security
  10. No. I believe your chickens come home to roost. Will Gordon brown sleep soundly and not consider or regret his actions? I doubt it. The same will apply to a great many others down the line, in government and in industry. I am sure many will get away with having made decisions which have affected innocent or naive members of the public - but I am equally certain that the financial institutions of this country depend ultimately on how and where the average man in the street manages his financial affairs. One example alone: Savers are transferring their money across to Irish banks for practical
  11. I am still a newby. I have to say I have seen more common sense and honesty published on this site throughout the past month than has been published in the entire British press over the past three years. I feel (due to the fact that I fully share the opinions voiced) that contributors have every right to feel a sense of satisfaction. Enjoying the crisis? I am thrilled that the shits responsible for it will now pay, i.e. U.K. Banks suffering loan repayment defaults and the transfer of savings to R.O.I. Does that make me a bad person? I don't care - I certainly consider myself morally more cred
  12. I see that the drop in house prices for the past 12 months (to September) is quoted on Google as being a record. 12.5% I think was quoted. Assuming that last September the market was still bouyant - as so many banks / building societies / estate agents and certain newspapers suggested at the time, does this mean that the drop should actually begin to be calculated from the point when they acknowledged the problem starting? Last September the market was flat / stable / stagnent etc. i.e. it wasn't going anywhere and thus, the 12.5% which has disappeared from property "values" started to go so
  13. A chap in my local pub advised me to keep a bit of cash available in case there was a run on one of the major banks. I took this opinion before joining this forum (I am still a newby) I would be interested to take any opinions - is he panicking for no good reason?
  14. I work in pyrotechnics. It has been terribly upsetting seeing at first hand a century of technology exported to China for the sake of greedy middle men, all too eager to remind everyone that "U.K. manufacture is dead" as some sort of justification for their lazy freeloading. We will probably never recover this situation Of course China had us by the short and curlies but this is not quite the case now.....the cost of living over there is rising as is the cost of transporting their tat across to us...maybe the same is happening with their real estate. You cannot beat the real, tangible things
  15. I had a dreadful experience a few years back which - whilst slightly off-topic, is still relevant to the general theme of this site. During the last period of uncertainty, easrly 1990's, I had become the proud owner of a modest terrace house in Lincoln. Personal circumstances changed and my wife and I fell into difficulties (young family, redundancy, interest rate hikes etc.) I accumulated arrears on the mortgage but managed to turn myself around (or so I thought), started a new business which took ages to get going and began to pay off the arrears whilst keeping up with the monthly outgoing
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