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House Price Crash Forum


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Everything posted by pokercola

  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.......
  15. My sister is training as a primary teacher at the moment, like everyone else I made the '13 weeks holiday, home by 3:30' jokes when she started but it really isn't like that. She generally is doing the hours of 8 - 7 for the princely sum of 23k a year. She is also always doing work on Sundays. One little example of the madness: When I was at school your work was marked either tick (right) or cross (wrong) but she has to mark each section with an additional 'What you did well' and 'what you could do better' which adds to the marking time, for no benefit (the kids don't read it or take notice). Teachers themselves don't help with their endless waffle meetings. If the government want to keep teachers in the profession they need to look at improving conditions for the existing teachers, rather than just and endless cycle of recruiting and turnover.
  16. Times is being a bit tricky today Headline on front page of website: Chinese buyers are leaving London Click through to the article and 'The Chinese are leaving London but the Iranians are on their way' Can't link it.
  17. People borrow money, on the condition that they pay the interest then repay the capital. Have decided they don't actually want to repay the capital Hope they get repossessed. So many idiots have just ignored the huge capital repayment required at the end of an IO mortgage....
  18. Yup, I was as surprised as anyone! Surprised they don't put that quote on their 'property' section.
  19. Sorry Frizzers, form won't let me quote, but the times article makes some reading. Basically it is like a summed up version of this forum/thread, very bearish and against the general editorial voice of The Times which can be a bit HPI forever. Choice quote: 'One investor is setting up a fund in anticipation of price crashes in new build flats....If you've got a two bed flat at £700,000 that's fine..but the whole sector in the middle is structurally f*****d' I don't if I agree a 700k 2 bedder is 'fine'...BUT this really feels like the start of something big.
  20. Playing devils advocate, and I'm not friend of EAs but I live alone and work full time, so I don't have time or inclination to show people around my house so l would let them deal with it. Also it's easier to let a third party deal with negotiations then do it yourself, depending on your attitude. Some people find it all a bit stressful. I trust EAs about as much as I trust recruitment agents though, that is to say, not at all.
  21. I just couldn't believe how thick they seemed for people that had amassed 1.5 million quid (OK not amassed, but the bank is up for giving it to them)
  22. I am making this point as well. I don't think, 18 months ago anyone would have seriously expected a crash in the oil price, it was just one of those things that couldn't happen, people were so used to forever rising prices, think of how much of the Scottish independence debate hinged around the oil revenues. Also I think utility value of a barrel of oil is higher than a terraced cr*p-hole in Bolton! So, I am very cautiously saying 2016 is crash year! oil price smashed, Chinese stock market down, ftse down, no where to go on interest rates and new BTL tax regime. If it doesn't happen this year, well........
  23. No because my repayment mortgage is £575 a month and renting a similar flat is about £900 (it's the reason I bought, cash flow decision). The risk/reward isn't worth it even if we get say a 30% fall over 2 years. Also having been lurking on this site since 2008, and convinced every year the crash is coming, and it never materialising I would never have enough balls to commit in that way.
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