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House Price Crash Forum


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About shadybaby

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    HPC Newbie
  1. I can't believe..... wait sorry, this is HPC.co.uk.... I CAN believe the IDIOT who started this thread and the IDIOTS who seem to be supporting it. It just perfectly sums up this site and the majority of people who post on it for me. I can understand you all getting nice and excited at the thought of grabbing yourselves a bargain, but don't hide behind your fake morale justifications. At least not doing so is what the OP has to his credit. The post previous to mine talks about 'sacrificing jobs now for the good of our future generations'...... hahaha. So what is this cruel world that children are being born into now.... they have to pay an overpriced £150 extra a month on their mortgage? The majority of you lot bash this 'greed' culture. Let's think about this shall we? How many times have I read... "I'm hoping for 30% off", followed by "30% are you joking? At LEAST 50%". "No wait, bring on 70%" etc etc. I think some of you guys need to take a step back and have a think about who's being greedy and selfish. The intentions of this site might have been good at the beginning, but now it is simply turning into a cult of greedy, selfish and evil, yes... evil people who wish for millions of unhappy families this christmas in order to save a few bob off a house.
  2. Hahaha. Right on cue! What's that then... a 65% crash from peak? Why don't you see if you can get your prediction posted on the HPC front page along with that... what's his name... Jonathan Davis bloke - the 'neutral economic expert' who recently made an idiot of himself along with 3 genunine experts. .... and I'm glad you've admitted that
  3. Correct Correct A lot, not all, but a lot are getting extremely excited and carried away at the potential extremity of house price drops. 50%..... 60%..... Even 70%! So yes... I think it's safe to assume that some people on here are stupid.
  4. The smaller mortgage would obviously be more desirable. For example, I may come into some money and choose to pay off early. But the majority of people are usually tied to their mortgage for the duration so I guess for most, the difference wouldn't matter too much. As you say, your monthly repayment would be the same and the final purchase price of the property would be the same. I'm glad some of you are starting to see my point though...
  5. I was waiting for this inevitable reply. What you say is obviously correct but what I'm saying is, forget about the person who paid at the higher price, we're not interested in him. All my post is trying to demonstrate is that a house's initial price is not the 'be all and end all' to a person's mortgage affordabilitly. And, at the end of your 25 year mortgage period, who know's what you'll have eventually paid for your house?
  6. Errrrm.... if you wanted to put my numeracy skills to the test, it perhaps would have been more beneficial to actually test MY numbers. All you have dones is taken 2% off my increased interest rate (from 9 to 7). Throw my 9 in there and your example will be a different story. We're getting down to details now though aren't we? Interest rates may never rise to 9% BUT, over a 25 year period, I wouldn't put my house on them not doing (boooooo!!). From reading some of my replies, I think some of you have missed the point; including you Greg. I'm not talking about the overall repayment price of your house.... who cares? What do you want to do - sit back when you're 60 and gloat about how much less you paid for your house?! WOW! What people care about is what they can afford each month whilst still maintaining a comfortable living. If you can't afford £700 a month now for a house, the chances are you wont be able to afford £700 a month for a house in 5 years when you're fixed period runs out and your interest jumps up 4%.
  7. I'm going to raise this one because I haven't seen this discussed on here yet. You all seem to be getting excited about house prices coming down like it's the 'be all and end all' but you're underestimating the importance of interest rates. For example: A house costing £11700 (average mortgage) over 25 years (average period) at a rate of 5% (current SVR) = £691 per month. Now, let's take 30% off that mortgate (widely expect drop by numerous experts): The house would cost £81900. Over 25 years at a rate of 5% = £484 per month. Finally, I'm sure we all agree that the UK base rate is low at the moment and that it is quite feasible it will raise significantly in the future. Let's say the base rate eventually climbs to 7%: The £81900 house over 25 years at 9% would be costing you = £694 per month. Oh dear. If you 'crashers' are priced out of the maket now... even with a 30% drop, you could be priced out in a few years due to interest rates anyway. So which is most important - the monthly repayment OR the initial purchase price of the house?
  8. I've got another game to play along side this one. Everyone STOP buying from or using the services of small business/medium businesses. This way more companies will go bust and more innocent people will lose their jobs. YEAH!! Forget 70% off the asking price of houses, lets see the UK's unemployment level reach 70%! Oh, and whilst we're at it trying to destroy the economy and people's lives (it's fun remember?) lets withdraw ALL our money from the banks and keep it in a safe. Maybe, just maybe, we could force a few more under (even with the bailouts) and with a bit of hope, some folk will lose their pensions!! I'm enjoying it so far. Infact, yesterday I viewed a house bought last year by a really nice (it has to be said) young professional couple. They paid £140k for it. I offered them £20k for it HA HA HA HA. Oh, and to make it better, before I left, the lady started crying saying she felt like they'd lost £100 GRAND of their money and that they were never going to be able to move on and have a family and stuff. I just kicked her in the face and walked out. HAHAHAHAHA. Lets' do 99% OFF!!! Can we? Can we?
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