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House Price Crash Forum


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About rootsnall

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    HPC Newbie
  1. Just tell your landlord it is inconvenient to move out on the date specified and say you'll pay rent for an extra few weeks until it is. If he says no then don't pay the rent and run down your deposit. There is very little he can do in the short term, just offer what you owe him when you leave, put it in writing and send a cheque.
  2. You also get hammered a lot quicker and harder if property prices start falling.
  3. I'm guessing the crime is she's cancelled the raffle and the money taken for the raffle is no longer around !?
  4. 1) What's your circumstances? 40s, 2 young kids, living in modest 200k house with no mortgage up north, another 250K cash from the wife's old house. Waited 2 or 3 years for signs of a crash to trade up but I've just reluctantly given in and am buying a 375K house with land ( pretty good disount to asking price ) with a 20 year outlook. Decided the thing that would annoy me the most would be if they inflated the debt bubble away in a short space of time and I was still waiting on the sidelines and getting older by the day. 2) What do you think will happen to the market? Stagnation in the UK
  5. I think the yield on the type of properties I am talking about, 80 year old+ terraces was tradionally around 10% before this boom. The reason behind that was high maintenance costs and not much chance of a decent capital gain in an area of the country that had a falling population and declining industry. The other side of this boom I suspect the old rules will apply.
  6. In my local area, which is an OK part of the North West, I have noticed a lot of terraces and some semis coming onto the market and selling quickly and then the next day a To Let sign going up. The market had been very quiet for the past couple of years but I would hate to have to say we have a BTL boom going on. The yields are not good and they will be subsidising the rent. The only pro landlord I know hasn't bought anything for a couple of years now, as the numbers don't stack up. I am intrigued as to who is actually buying all these properties, is it one organised landlord, lots of amateurs
  7. Stirring stuff, you got me excited ! I'm perfectly setup for the mother of all recessions, I'm in a no mortgage modest house and have enough cash to buy a big house. The problem is I'm at the big house buying stage with a toddler and new baby due, I've been hanging on for 2 years but starting to make tentative offers on that big house. I'll be annoyed if the recession comes within 12 months but the risk of sitting on the sidelines with an ongoing housing obsession watching prices stay flat for a decade is I've decided not worth it. There is also a risk that they somehow manage to inflate the m
  8. I would put your cash in high interest accounts, quite a few at 5.6-5.7 at the moment. If we ever have the hoped for property crash I think you'll find most other assets will fall also, virtually all assets are highly priced due to the same easy money that is sloshing around the system. The problem with high interest accounts is you'll pay tax on the 5.7%, luckily my other half is not working and the pot is in her name getting not far off 5% net. I will be a cash buyer so aslong as property doesn't go up more than 5% in my neck of the woods I'm covered. Never made a prediction on here before b
  9. I don't think that will happen. The only way we'll have a sizeable correction is if people start losing their jobs in significant numbers, in other words we need a recession.
  10. If the UK economy starts to struggle then people will start to leave the UK. Our population was falling before this economic boom, the economic migrants will go elsewhere.
  11. A basic survey is a waste of space but your mortgage offer may need one ? A builder or somebody else with experience of houses who you can bung a few quid is a better option, I have a structural engineer friend, the going rate is 6 bottles of decent wine. if the roof and brickwork look OK then most other things can be patched up.
  12. I have been following auctions in my part of the world and due to the fact builders and speculators have had a good run for quite a few years there is lots of money sloshing around and the prices are not much below what you'd pay through an EA. If you are capable of weighing up the house without shelling out money up front and you can line up a mortgage there isn't much to be lost by going along. If a desirabe house is going to auction I'd first find out why !? There will be some reason ? Even a desirable repossession would be marketed through an EA in normal circumstances.
  13. The 0.5% interest rate is a good clue that all is still far from well in Japan.
  14. Switching to them this week. Its a pain keep opening new accounts in the Mrs name but I fight the laziness eventually. ING now 0.7% of the pace.
  15. It must be a joke !? I'm in the NW and looking to trade up, I'd say prices are more out of whack compared to wages than the SE but don't know the official figures. I think the NWest will really tumble if things go wrong, in the last slump it lurched along sideways for 10 years but hadn't risen in real terms anything like it has this time.
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