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House Price Crash Forum


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Everything posted by Redcellar

  1. Do you mean tangible assets? As savings, aka cash is also an asset. There are other choices. The world may decide to save more and I heard that this is typically what happens. Or some may decide to spend it on useless tat, like shiny new cars, kitchens and holidays.
  2. +3 Only point I am not sure on is the interest charges. The stock market is booming because there's nowhere for serious investors to sink the mega bucks and get a decent return. Absolutely no true and fair link to the value of the company. And hasn't for many years. Full time versus part time is definitely the elephant in the room. And I am surprised more aren't talking about it. With expectations both work to pay down debts, seems like a bit of a big assumption and therefore mess. Back on topic though, as many wise people have said here before; the ability to pay ever increasing sums for housing is based on the ability to borrow and that is ultimately controlled by the banks and not the whimsical decision of the prospective purchaser of what they guess a value to be.
  3. And this is one of the main reasons the subsidized deposit scheme will fail. The banks are still short of cash and limiting loans to only the most credit worthy. The people on HPC seem to forget that this is a two part deal with banks like co-op still needed to lend 80%. 80%!!! Yes the larger part of the loan. HSBC and Barclays are still making decent money but Barclays have a 60% LTV policy and I suspect HSBC are pretty tight too. The co-ops and other low end bottom feeders are suffering. Kind of reminds us of the USA sub prime fiasco. Same sh1t then of the low end bottom feeders making great money in the easy days and going to the wall later. AKA ResCap.
  4. Youth unemployment to top 1 million soon. 1 million! 21.2% of 16 -24's unemployed. That's this country's future folks. The ones you are all banking on to buy your overpriced houses and pay your state pensions and benefits. Can you begin to see the writing on the wall for the economy and house prices long term now?
  5. Well said. I thought the same on the way home as everyone applauded the idiocy. It's like giving a drowning man a cup of water. Right enough analogies for the night. The good news from the budget is ...... ??? 1p off a pint of beer. So if I buy 200 pints I can get one free. Excellent deal.
  6. Short sighted, seeking applause from the gullible. It simply won't work. 20% deposits hasn't been the main limiting factor. Plenty of people with that are turned down because they don't have perfect credit records, the house they want to buy is overpriced. There is little to lend so the banks pick the best of the best. Here's what will happen. There will be a slight uptick that everyone will herald a success. Then it will be back to today. And what happens to all those remortgages. They aren't part of this scheme and are stuck with their current bank on a variable rate and a house that has them underwater. And you want to join that party when the deal runs out? Wall papering over the cracks. Or crack addicts being given subsidized heroine. Both would be appropriate analogies.
  7. If there's a bank run won't the Euro become worthless anyway as each country withdraws and becomes its own currency? Not sure why there would be an impact on the UK, anyone got a convincing case?
  8. It's a UK repetition of Fannie Mae and Freddie Mac. And we all know how that story ended. Do we make the dumbest people in society our key politicians, or is this actually clown training camp in the circus?
  9. You may have wandered off the topic. You may or may not have a point on general taxation or benefits. Back on topic though. The benefit pays for housing. The benefit being paid will be reduced if there are bedrooms not being used. They are not being asked to handover money they receive, which would be a tax. They are simply being given less. Correct me if I am wrong though.
  10. I have to explain why you said what you did???? That'll be interesting. I think we'll end this one here as it becomes nonsensical.
  11. A tax can only exist when you produce something that has a fee levied upon it. Since this is a benefit, which is someone giving you something for nothing, then it cannot be a tax. It is a reduction in a benefit and nothing more. It's not a tax. It is a reduction in a benefit, but then that doesn't make it sound the way some people want it to.
  12. +1 It's a reduction in benefits to pay for what is required and no more. If you don't need extra rooms why should society pay for them. Oh yes, 'because you got used to it' When the country is running a huge deficit and pay is going down in real terms, how can someone complain that their benefits have been reduced but they still have what they need. IMPO seems selfish to me.
  13. +1 and I expect that will be +1000. If the second steppers don't have the deposit because their first place dropped in price, and it's considered too small, why won't I just buy a second stepper place since they will want my cash. Average age of FTBers is heading to mid 30's = kids en route, so why buy an overpriced shoe box? The fun and games ensue.
  14. I loved his "make $20,000 in 20 days guaranteed or your money back". I became a politician too.
  15. Of course you can. BTL pay maintenance and insurance as the reports said. Owning you also pay those two. Renting you pay neither, another person does. Of course you're absolutely right about it being dead money. Get on the ladder now before it's too late. Blah blah blah blah blah
  16. Compare like for like - "a 3% fall from £10.7 billion in January 2012" That'll do pig, that'll do.
  17. One hour of f*cking nimbyism. I don't want to overlook houses. These fields have been here since X. Lets go find some great crested newts. Grab a newt everyone and stick a crest on them. Yet they all live in newish houses and forget that Englands green an pleasant land is a relatively new concept anyway. 8 episodes of this sh1t all paid for by us. Where's the refund form for the licence fee.
  18. Can't see this posted elsewhere: Radio 5 6am breakfast show today. http://www.bbc.co.uk/iplayer/episode/b01q96w0/5_live_Breakfast_28_01_2013/ 52:50 sets the scene, about a minute later. "Did young people just suddenly not need a pension" .... and .... "can people afford to pay the pensions" .... "increasingly difficult not just for a young person to get on the property market but also to get a pension" .... "EMIGRATE" Said completely in jest or perhaps a hidden truth?
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