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House Price Crash Forum


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Everything posted by Redcellar

  1. Carry a knife 1 in 5 go to jail. http://www.bbc.co.uk/news/uk-15996617 Use a knife like she did, get a suspended sentence. What do you have to do to get a jail sentence? Chop off someones head?
  2. FFS will pupils want to stare in through her windows all day long? Use the front rooms and stop whining if you think they really will. Fuss about nothing.
  3. £25K that's huge. I get the feeling people think it isn't when they slap on 25K onto a price when they were increasing. It's an average persons full year of pay before tax. OP - they blame anyone but themselves, that's if they even understand what it will sell for and I am far from convinced they do. Most still in La La land thinking they have 250K of assets around here. More like 180K and falling now based on whats actually shifting. Dinner party talk no longer focuses on boring housing thank god.
  4. I'm not convinced they do make loads of money sitting on it. They bought the land at a premium and they make money by cramming in more houses per sq. foot than before. Just look at the modern developments where you live in your neighbours pocket. If the profit were the land alone, then wouldn't they build fewer houses but bigger plots? The money comes from converting the land into as many plots as possible and SELLING them. Also their money is tied up sitting in land, and that's not good for the balance sheet. With inflation and reducing turnover, being cash rich is not necessarily a good position. Shareholders demand a return and where does that come from? You can't give them land. They have to sweat their assets and sitting on them is not good for a company. One man bands perhaps, but the big building chains that own the vast majority?
  5. For every loser their is a winner. They thought they would be a winner and those following would be a loser. They thought wrong. That's life. Get on with it and correct your error.
  6. BTLers favour the FTBers target homes. Terraced houses galore and flats of course. Just see the rentals market advertising. So if you are a prospective FTBer and you can, then aim for the second or third rung. Their prices are dropping too and may provide better value for money, certainly more room for negotiation IMPO. Don't try and play in a lunatics market.
  7. 'Something for nothing' Well they got half of that correct. Might as well have written a cheque to the bank. As Southparks banker said "annnnd it's gone".
  8. I think the point they are making is that these first steppers are trying to upsize and finding they can't. Hence the second rung has stalled too etc etc. Boo fecking hooo. We all said at the time it was dumb to mortgage to the hilt. And why weren't these people paying off the debt with the record low interest rates over these five years? As predicted, the increase in FTBers age will mean fewer want to buy these little shoe box homes and will simply jump to the second rung homes to bring up a family. Leaving the former FTBers locked out of the market completely, unable to take advantage of the drop in the second rung home prices, but with the huge debt and inflexibility of being stranded physically. "Renting is dead money" Where are these idiots when you want to point out their flawed argument has come home to roost.
  9. BBC Breakfast would have placated you. Interviewer (male) said to interviewee. "But won't house prices end up returning to what they were anyway, it's cyclical" To which the young educated lady said "this may be the new norm, lots of people think they were way overvalued". Well done that lady.
  10. Priceless. Love the comment about them knowing what 15% is only for the house they are buying. In summary people are deluded greedy sheep. Thick as two short planks and can't figure out why their house isnt selling. The guy spoke absolute common sense.
  11. Entirely predictable to see the rises begin. The farce of a news story from MSM and Beeb inferring drops on the way was and is a joke. I've seen the long term charts showing futures for borrowing costs and bond prices / values and the divergence that has never happened before and is correcting. And it says rates are rising and will continue to rise. This is just the beginning. If you've got a mortgage pay it down fast and do it now. Forget your holidays, new kitchens and fancy cars. Get rid of as much debt as you can now or you'll regret it. This isn't financial advice, its the facts of what's coming up over the next five to ten years. I wish I could share the charts but I'm not allowed. And I hope the mumsnetters do read this thread and perhaps consider that it might contain some sage advice. Forget worrying about getting a nicer place and your DH getting a payrise. Cut back to essentials and pay off the mortgage quickly. This isn't going to be pretty and the house is not an asset, its a place to live. It'll be worth a lot less but it's still a place to live thankfully.
  12. Less if the leaders cash out. No faith in their own company = sunken firm.
  13. Don't underestimate greed and stupidity. If you're being promised four months rent in one month and you think the rental market is so red hot their won't be a void afterwards then they grab it. People are greedy c**ts, they really are. I believe thousands fell for the hype. and s0d em. Hope they lose the pwoperdy to the bank.
  14. Not even six months! Faster than I predicted and were not even close to finding it's true value. Just shows that people will buy anything. Oh the idiots.
  15. EDIT: delete rubish post, date was misleading, probably last year 19th August saw a similar drop
  16. Radio 4 newspaper review this morning around 9:55am said Sarah Beeney wrote she advised sellers to reduce their prices! Commentary from lady reading the headline was "I'm not going to give it away" We've had so much long term property porn that this is going to take a while to get into their think little skulls. The value was purely imaginary and you're not giving it away if you bought for £140,000 and try and sell for £250,000. Thick as pig sh1t the majority for now I am afraid. But in the end these drops in prices will force them to rethink and perhaps even adjust their overprices lifestyles somewhat. EDIT spell check
  17. Suicide rate on the increase? Must be married to a scumsnetter (see comment below why that name applies). Funny to see they read these forums. We must be influential if they spend time here Maybe we can teach them that it's not nice to wish people a vagin* splitting birth. Though I think educating the retarded is going to take longer than I can spare. Stick them on the school bus and let them lick the windows instead.
  18. I'm considering Eastern europe at the moment. I could buy a dream house with its own lake, then simply retire with a dog and a fishing rod. My idea of a great life. Countries I fancy keep changing and I am willing and ready to learn a language and culture. 5 - 10 years max is the plan.
  19. Not meaning to annoy but a few people at work think it a cash cow. One has two properties and is doing well from it, bought in early, very early. The other has a house they can't sell so are seriously thinking of renting it out having spoken to the other person. On the other hand we all know investments can lose money as well as make it. and the more you invest the bigger the potential loss and the bigger the impact in just a small % change. Personally housing is far too illiquid for me, you're in the lap of the gods if you decide to change strategy. Therefore risk is actually much greater than most people account for.
  20. +1 Well we're all setup for a fun future. An economy of wealth based on ever increasing house prices. Yep that'll work since our salaries can cover a 100X mortgage. LOL. House of f*cking cards this country. Soon as I can I am out of here and this just confirmed it. Thanks for the OP and the figures later on.
  21. I think we all predicted a catastrophic drop in share price. I know I did. And I've still yet to see a viable business plan from them. They have no idea how to milk the mobile market and are on borrowed time until they do. Facebook? Face palm more like.
  22. They're all the same. I just saw a house where I live, been on the market for a year at least. £495,000 2003 now asking £999,999. Greedy b*stards. I wonder why it's not selling.
  23. Counter to this as suggested to Bloo Loo. If they are so profitable then why is the UK banking the minority of countries to offer free banking?
  24. Again people speak without any actual knowledge. The vast majority of in credit current accounts are not profitable for banks. They rely upon additional sales. But to make it plain to you all, if that's not true then why don't other countrys have the same model?
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