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House Price Crash Forum


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About MrB

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    West Midlands
  1. There will be enough takers of this scheme to prevent sellers from lowering prices. Only takes a few idiots to use it consolidate prices at the margin.
  2. This mini recovery ends the moment those insanely cheap mortgages do.
  3. It probably is skewed, I think it excludes cash buyers. But locally there are a dozen or so properties on an individual level, that have increased in value since 2010. Where we stand now, the winning tactic was to hold off buying until 2009-2011. Since then prices are up 10% ish, mortgage rates are through the floor (sub 2%), overpay like buggery for a few years....
  4. As irritating as you may find it, I could post a dozen examples in the midlands of LR figures showing 10-20% gains post 2010. These are real sales, real people buying houses and paying insane amounts of money for them. In the SE this is even more insane. There are lots of rational reasons why this shouldn't be the case but no-one should allow HPC Perma-Bear Cognitive Disorder to distort the reality of sold signs; LR figures and a sun induced feeling of well-being amongst the chattering classes. Osborne has definately spooked some buyers into buying, and I've seen first hand the anxiety of a bidder desperate to 'get on the ladder'. The good news however, these windows of optimism tend to come about a year before the onset some market debacle.
  5. The clowns are out in force, buoyed by the sunshine and the sold signs. We've put an offer in on a house 3% below asking price, rejected out of hand. Vendor is expecting asking price or above based on recent viewing activity. We're absolutely gutted as sanity was beginning to return to the market 2009-2011. The Land Registry confirms the fact that in some areas there is a mini-boom, but some of the asking prices touted now are simply insane. Locally, a 2 bed ex-council house sold for £171k last year. A 3 bed variant of the same house a few doors away has recently come on the market for £300k! I can see this boomlet going on for a year or so but what comes after that?!
  6. As you were: http://www.telegraph.co.uk/earth/greenpolitics/planning/10104786/Labour-would-scrap-the-Coalitions-planning-reforms-minister-indicates.html
  7. National GDP is just a stats game and is pretty much meaningless. With housing, where I live, I would say there has been a mini-boom this year with prices hitting 10-15% above trough. Lots of stuff selling (actually selling and not just SSTC). This is evidenced by the Land Registry figures. Overpriced shat still festers. Dearth of rental property.
  8. Not quite sure how low down the pyramid Danny B goes this time...
  9. The article says biggest rise since May '07. Interesting parallel, wonder if that's where we are again Mid 2007. That same, unfounded optimism is abound. Same people at work advising their kids to make property moves that proved disasterous in '07.
  10. Prices in my area are currently offered at 10-20% above the trough prices of 2009/10. There were a few HPC characters that jumped in then, and it seems from where we are today at least, that was a very sensible move. I do however think Spring/Summer 2013 will prove to be a truly terrible time to buy a house. So much saccharine optimism out there, so many numties fuelled by 5% down leverage, and so few houses for sale = trouble ahead, and the sooner the better.
  11. Move to Sudan: Slim in Sudan I'm off to Sudan to marry a tubster. (edit, scrub that, I misread it - it's the groom that pays the gold AND gets to wed a chubby unwashed Sudanese!)
  12. Maybe a strategic default on a Help To Buy mortgage is the way forward. £30k deposit + £120 H2B loan +£450k mortgage to co-opt a £600k house. Default on the £120k. What would the consequences be? What would the repayments be on a £450k mortgage?
  13. Well, that's 30 mins of my life I'll never get back. Not only are these monstrous sh!t holes 50+% overpriced, I'd have to spend something like £15-20k rectifying all of those lovely 'features'. I'll stick to renting for a while.
  14. http://www.rightmove.co.uk/property-for-sale/property-37346812.html Equality and diversity gone too far:
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