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House Price Crash Forum


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About pokercola

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  1. Is this perhaps the greatest redemption ark since Darth Vader? Times article so behind a paywall: https://www.thetimes.co.uk/article/relocators-beware-dont-rush-into-too-radical-a-change-7d9h0dnd5 Basically a short article and contains a lot of eminently sensible points that a lot of people would agree with: Lots of areas seem 'hot' even when you wouldn't expect it? Was the Stamp Duty holiday a good idea when government needs revenue and it has just added fuel to the fire? Is taking on bigger mortgages based on short term savings during lockdown (e.g. lower commuting costs) a sensible strategy in the long term?
  2. competition prize..... 5 grand 'a property developers dream'..... Never understood the attraction of property developing as dealing with builders always seems a nightmare...and would seem the case here.
  3. This is the shoeshine moment of the modern times. We don't really use shoeshine's any more, but when slow dim-witted C5 produces a Property Ladder knock off, a sure sign the market has peaked.
  4. It's such a cynical move. Now any cut they make to social care will just be met with 'well we tried getting more money, but the nasty, nasty voters wouldn't let us so blame them, not us.'
  5. As a resident of Surrey they can 100% f;uck off. This is the NIMBY capital of the UK where young people are basically screwed. Why should we pay their care home fees out of our wages when they are mostly sitting on huge unearned HPI gains?
  6. Yes bit of a feeling of clutching at straws with this one, the money for nothing HPI forever risk free BTL dream is dead therefore the opportunity must exist somewhere else. Even the article doesn't commercial property sound a good bet, and they are spinning it as hard as they can.
  7. http://www.telegraph.co.uk/investing/buy-to-let/buy-to-let-dead-say-landlords-start-buying-shops-instead/ Even Telegraph is accepting it now! I'm not really sure amateur Landlords can just 'jump' to commercial property....
  8. In the Property Porn world ALL areas are one of two categories; Leafy and established, or 'up and coming'. An area will be deemed 'up and coming' if it has a coffee shop, bar or gym, that is the only requirement. There is an underlying assumption that any bad area will 'come up' and eventually become delightful. However my experience of the real world tells me that this is the exception rather than the rule... crap areas rarely change in character. I think a lot of people kid themselves about this especially in London, but I guess you have to if you paid £500k+ for an ex council flat in the **** end of Stockwell.
  9. What attracted me initially was that funny youtube video of Kirsty eating her hat. I am a HPCrasher, but I bought in 2012. My reason was cash flow based. It was cheaper for me to have a repayment mortgage than to rent, I figured interest rates wouldn't go up in the next couple of years as it would electoral suicide. I honestly didn't think I would make money on my flat.... I still want the crash though as all my 'next steps' are out or reach so would take a hit my flat if I could upgrade to the complete luxury of a house. I also hate the fact that the majority of people that have made money on property think they are a bit special, like somehow they are geniuses rather than lucky. I have been told so many times that I am an idiot for believing in HPC that I just hope that one day these people will face the reality. I do doubt it sometimes though....after 9 years.
  10. Don't believe everything you read on HPC regarding the 'dying industry' of accounting. Look at published salary surveys and you will see they tend to do alright. The problem you find yourself now is, you work hard to get yourself into the top say...20% of salary earners. In the old day that would have opened up the nicer end of housing stock. Now you can barely scrape into the ar*e-end of London on shared ownership.
  11. Guy at my work, daughter priced out of the UK so what did she do...bought an apartment in Turkey, Convinced that it was going to make so much money that she would be able to sell up and live the high life..... When I pointed out it seemed a bit risky I was, of course, dismissed as lacking vision.
  12. Exactly, it seemed when I was a kid (80s) there was an element of choice, you could afford a house on one income, but both parents working meant extras and a more comfortable life. Seems reasonable to me. Now, you have to have dual income to afford a 'normal' mortgage on a normal house around my area (Surrey). The greatest myth is that the mum's are bored at home and clamouring to return to work. Most come back feeling guilty about leaving their one year old with strangers, constantly on the phone to nursery. They normally come back part time as well, doing what they need to cover the mortgage and a few expenses.
  13. http://www.thedailymash.co.uk/news/society/london-property-market-boosted-by-people-pretending-grim-places-are-great-2013053070398 'Impressive 34% survival rate' Amazing how London makes it hard to distinguish between satire and reality....
  14. The fantastic news is since the majority of IO loans were taken up to 2008, we have had record low interest rates thus allowing mortgage holders to overpay and reduce the loan outstanding. Indeed, this was somewhat the basis of the policy. I'm sure no-one has been just p*ssing their reduced mortgage payment on 'on-tick' BMWs and new kitchens. IO mortgage misselling is going to be the next PPI.......
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