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House Price Crash Forum


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Everything posted by Number79

  1. No wonder you live alone! I bet you were a riot in uni.
  2. help! we sold earlier this year and had an offer acceoted on a place we wanted. They guy we are buying from still hasn't sorted himself out and is sat on the offer he accepted back around april. Thing is the house is a unique find, extended and with 1/3 acre garden in the middle of reading. I know that prices have dropped but some properties are holding their value well and in reading anything descent still goes quickly for the asking price. Originally the house was on for £300k and he accepted our offer of £280, prices may have dropped but we still can't get close to matching the place for the same money. we are staying with the in laws at the moment and i am tempted to pull the plug on the purchase and wait to see how much further prices fall and see what we can get later. Thing is i have an outstanding mortgage offer which expires in march that we have no hope of matching (half borrowings at base +0.47% and remainder at base +0.99%). I actually believe that things are about to get really bad. Am not one that sees things picking up soon but think we are certainly facing depression if not collapse. I know that taking on a big fat mortgage/debt is akin to financial suicide at the moment but i also know that if we haven't got any bricks around us when things turn then our cash in the bank will be worthless and we won't be able to buy a house. I can't sleep, can see both sides of things equally which doesn't help me decide what to do. Am leaning towards renting for 6 months or so but what if i can't get another mortgage then? am definately going to have to pay a lot more for it if i can. What if stirling crashes or hyper inflation kicks in and i am caught short left unable to buy? My wife has no idea what is coming and keeps saying that we should take a chance or will never get anywhere, i am torn between wanting safety and starting to store some food/water/medicine/gold etc or not wanting to take on that sort of debt because if we struggle then we would lose everything anyway. help!
  3. A well known market/trend analyst called gerald celente has called february as the time when things will get obvious and start falling off the cliff. Unfortunately the guy is well known because of his accuracy and has called most major market events in recent times, everything from the dot com bubble to enron to this. His take on the future untill 2012 isn't pretty either.
  4. i have been reading a few forums from the states to gauge how things are and what we could be in for here. Things are really bad there and many of them still think that they haven't even reached the half way point. Many expect something worse than the great depression, and a lot are prepairing for total collapse. They are storing food, water, medicines, cash, gold, guns, ammo etc you get the picture. Thing is they don't sound as nuts as i would have thought they were a year ago. Most gun shops are pretty much sold out now, gold availability is pushing prices right up and those storing food are no longer talking about reserves for a few months but have now got enough for a couple of years. If total collapse happens then we won't escape it, infact because we are so densly populated it could be much worse.
  5. CRAP! they are con men and are way over priced. Do not use these idiots! They charge way, way over the going rate and only order after you have paid. Obviously there is a lead time which is often 2-3 weeks. Pakeeza take your money and sit on it until they can get max profit from you. They only buy from baird & co anyway so cut these idiots out and just go direct to a reputable bullion dealer. I can recommend baird & co, they also list their prices and update them in line with spot. If you want a laugh then look at what apakeeza are charging for a baird & co bar then go direct and see the difference. Those throbbers at apakeeza need locking up.
  6. hey guys, just found this site but have been stressing for a long time and need some good advice. We sold our house recently and are currently at the in laws waiting for our purchase to come good. Cash from the sale is sat earning interest. The place we are waiting on we saw in march and put an offer on. It started at £300k when he put it on the market around feb but he eventually accepted our offer of £280k. That was back in april and he still hasn't sorted himself out and is still sat on our offer of 280. I know that prices have dropped but it doesn't seem to have affected everywhere or everything, atleast as far as i know which isn't very much apparently. The place is in a nice area and comes with over 1/3 acre garden and is an extended 3 bed semi. From what i am being told places like this that are pretty much unique around here are holding their value well, even zoopla and alikes value it at around the £280k mark now. Even still looking around there is little to match the house and if anything comes up it sells pretty quickly. I don't think he would accept less because he needs the money to move on. Is this still a good price for tilehurst? I have been contemplating pulling the plug and settling in at the inlaws or taking on a let so as to see how much more prices drop. Thing is my wife has fallen in love with the place so letting the place go won't be easy and i am beginning to wonder if we could replace or match the house regardless of future price drops. Other stumbling block is the mortgage. I have the offer but it expires in march. I am porting my existing mortgage which makes up half of our borrowing which is at 0.47% above base and the rest is at 1% above base. Those rates are old rates for an existing customer and i can't come close to matching them anywhere else. So, as much as i wander about sitting it out and seeing if or how much prices drop i have the issue of having to complete by march or facing a much more expensive mortgage. any advice or opinions or ideas would be greatly received. cheers rich
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