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House Price Crash Forum


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Everything posted by tennaval

  1. ok folks........grab yourself a real bargain at £375000.......view early to avoid disappointment.......to compensate for the shared entrance, absence of any garden and the abundance of gas meters mounted beside the living room window...... the price not only a includes a hanging basket in full working order..........but a yucca on each side of the entrance.... well ......err......subject to negotiation.
  2. Roll up roll up........grab yourself a bargain at a give away price of only £375,000............. view early to avoid disappointment.......etc etc
  3. That area of PZ is very alluring on a sunny day, lots of "nice" looking houses, attracting gentile retirees and wannabe patrician types vainly in search of cachet. But looks deceive, scratch the veneer and its a different story. No real gardens, parking nightmare, and an ever present cocktail of social problems and petty crime facilitated by a matrix of back alleys. Anyone wanting to buy in the centre of PZ should first visit on a Friday/Saturday night to make sure it still accords with their fantasy! Agree its overpriced, why would anyone in their right mind pay over 400k for it?
  4. A prime example of post 1950s Penwith agricultural vernacular in all its glory, a cocktail of naffness parachuted in to an otherwise timeless landscape rich with iron and bronze age antiquities..............i will be shocked if anyone pays over 350k for this
  5. I'm far too cynical to expect integrity but given how long Andrew Sentance has been a lone voice in the MPC to raise interest rates, it would be very disappointing at such a critical juncture and when other members are now finally moving to his position to appoint a new member in April who doesnt share his viewpoint.
  6. Too right sacrilege to put a conservatory on the front of a beautiful old house like that and that one is particularly twee. My own experience of Penwith is that there are very few ideal houses, usually always compromised by something ...........often proximity of neighbours due to the nature of tightly grouped cornish farmbuilding........ Whats your thoughts on Penwith market for the next 18 months or so? I'm on the sidelines too at the moment, budget up to 400k, seen something that would do the job.......but I'm sensing next year sentiment will be on the floor...so going to wait it out.
  7. what about this beauty? A song at +500k perfect for suicide, if the beams dont decapitate you its a cert the bedside combi boiler should do the trick! I mean WTF? do they think it's a frikin teasmade!
  8. Suicide anyone?????? if you dont decapitate yourself on the beams the monoxide from the combi boiler by the bed should do the trick! YOURS for £575,000
  9. Similar position to you. Lucky to have cheap rent in great area. Have enough to buy something modest outright but with Interest at 4% (for another year) and house prices in my target area slipping it would be a poor financial decision to buy at the moment. So certainly not "disappointed" but definitely ready to pounce if and when the situation changes.
  10. If you put your cash in a bank earning close to zero...with no strategy then yes you are probably right....However for example....coventry BS 4.75% @ 5yrs, sure that will probably still be be a negative return, but nothing like the decimation of cash you infer...and if you are holding cash (mine currently fixed @4% no exit pen) and linking it to property prices, then it makes sense to hold cash until the property bubble has deflated, however long it takes and irrispective of its devaluation to other assets/commodoties/metals......
  11. tempted Charlie....? http://www.rightmove.co.uk/property-for-sale/property-29068834.html
  12. too bad Andrew Sentance leaves MPC mid year.......Merv can manipulate further by hiring another stooge
  13. UK Competition have got a very long way to catch up ........ tesco saw the saturated uk market yonks ago thats why they are just using uk and its estate as cash cow to fund expansion where there are real growth prospects..........already 4 billion sales South Korea, China 1 billion with massive roll out in pipe line, in fact it will have more floor space in China than UK in 4 years, India, USA, Poland etc etc love or loathe them them they are a smart business whose peers are Carrfour and walmart not Sainsburys.
  14. Agree its a smug self satisfied rag. Target audience?....let me see now......oh yes that will be the smug and self satisfied. Opted for a change after 30 yrs of reading the observer (got fed up with that too) But wont darken my door again. Options running out.......
  15. Sorry I should have made it clear in title (can you do this in retrospect?) this was in the Sunday Times today..........article Nina Montagu smith
  16. According to Nina (a dreary journalist fond of writing nauseating articles on investing in shares for her childrens future etc) interest rates shouldnt rise because it would "be an utter disaster....... the thing is that most of those who have significant savings are long past the stage of being in hock up to the bank in the form of a mortgage. And yes we've all heard the stuff about "greedy" property speculators, but actually most people are just trying to put a roof over their familys heads........indeed one big incentive for the bank to leave inflation to sort itself out is that it can be good to reduce deficits - you just inflate your way out of them." The truth is of course quite the opposite, as Lord Young pointed out to his cost most people with mortgages (like Nina montagu smith presumably) are better off than ever before........however with a mobilized vocal minority of journalists with vested interests churning out this simplistic vacuous bilge.....its easy to forget the real victims in this situation ie the young whose parents (unlike Nina) cant afford to help, the millions in rented accommodation, the elderly whose life savings are being trashed and the vulnerable, but thats not on message is it?
  17. Perhaps someone smarter than me can work out the average % margin of error of pRICs annual forecasts based on the following info (curtesy of this website) It looks to be a pretty large to me! Prices rose 9% and 2% respectfully in 2006 and 2007 - RICS forecast was of 4% and 7%. In 2008 prices dropped 13% - RICS forecast of 5% In 2009 RICS forecast a 20% drop + later revised this to zero.
  18. Lovely bearish quote that ends with another classic politely phrased euphemism: The Nationwide's chief economist, Martin Gahbauer, predicts that prices will decline gently........ "There will be a recovery eventually, but cycles in housing are very long," he points out. "Households are still very indebted, the boom was a long boom, and it is not unreasonable to expect a period of digestion to take a long time." decoding VI euphimisms: "Somewhat elevated" = Prices way too high (pRICS) "a period of digestion" = prices are going to decline back down to trend (Nationwide)
  19. Good ole pRICS. How about this for a gem of a quote in first para : "prices (at a headline level) remain somewhat elevated..." They just cant bring themselves to say "too high". Bless.
  20. Just a smattering of quotes from Merv over last two years .................... Guardian June 2010 But he (MK) stuck to his view that inflation will ease back next year to below the government-set target of 2%. Mervyn King Scotsman Feb 2010 He said the MPC was ready to take "whatever actions are necessary to ensure the outlook is for inflation to remain in line with the 2% target". Mervyn King Telegraph 17 Feb 2010 "inflation is more likely than not to fall back to the target in the second half of this year, as the short-run factors wane." Thereafter he said consumer price inflation should move below 2pc for a period. Mervyn King 11.sept..2008 "In the UK we face a difficult, but temporary, period during which inflation will remain high for a while and output growth at best weak. It would be most surprising if, next week, I were not required to write a further open letter to the Chancellor explaining why inflation is more than a percentage point away from target. But provided we do not impede the required adjustment we will come through this temporary period and resume a path of normal economic growth with inflation close to target......" Mervyn King - 22 Jan 2008 We (MPC) are determined to keep inflation on track to meet the 2% target in the medium term. Mervyn King 22 oct 2008 "Inflation dangers had "shifted decisively" in the past month, he said. The threat was now that the slowdown would drive inflation sharply below target, so the Bank would "act promptly to ensure that inflation remains on track". Mervyn KIng 15 May 2008 "But yesterday Mr King signalled soaring inflation will make it difficult for the Bank to cut interest rates more than once, if at all. He said: 'We are travelling along a bumpy road as the economy rebalances. Monetary policy shouldn't try to prevent that adjustment.'
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