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House Price Crash Forum


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About Samson

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  1. Your guess is as good as mine. Maybe the vendors don't really need to sell, so they are trying it on, seeing if anyone is willing to take the bait. There were massive price rises in 2004 and again in 2006. And they are arguably the best streets in Brighton. No excuse mind. Let's hope rich people aren't silly enough to stump up those prices. Hang on for another year – things will be different after the election in the spring (higher taxes, more expensive mortgage repayments, stricter mortgage criteria).
  2. Living room looks like a waiting room in a health spa. Minimal look doesn't fool me – where would I put all my stuff? Seems the beginning of the year might have been a good time to buy after all Asking prices seem to be going up, but wonder what's gonna happen after next year's election with interest rates etc etc. My hunch is stagnation (with a few ups n downs) in real terms over the next five years, which is a bit boring...
  3. When interest rates go back up. My guess that won't happen until after the next general election, or late 2010-2011.
  4. Is it based on asking prices, not actual completed sales?
  5. Greedy little chancers. Doesn't even look very homely with those uncomfortable-looking chairs stranded in what is a thin living room. No-one would be so stupid to buy it, would they?
  6. what do you mean? you offered more or threatened to pull out?
  7. The trick in this market is to find what estate agents call "committed vendors", ie, those who have to sell, rather than those who are seeing what they can get and then renting it out again...
  8. May day riots story on Telegraph website They're against Brighton-based defence manufacturer EDO MBM Technology, which makes military equipment for the Iraq war, it seems.
  9. latest from the Land Reg: Land reg figures & pretty graphs Things were still going down last month (March), we were officially back to March/April 2006 prices folks
  10. Barclays Woolwich are still doing 5x salary on both salaries. Sh*t, the 90% bit is wrong. Sorry about that. Just looked online - more like 80%. I know they do 5x salary cos I recently had dealings with them. Was surprised. How irresponsible. They've got a calculator online but it works out the monthly payment (some algebra anyone?). I just wanted to point out that people shouldn't assume 3.5x is the limit, I'm afraid. Maybe the banks are factoring in 20-30% falls with their deposit criteria. Now I know what MEW is. Thanks
  11. I'm not surprised. I sold my 1-bed Victorian garden flat in Holloway in Aug 2008 for 225. Probably a 10% cut at that time compared to what else was out there. Trying to sell then was like trying to get on a boat that was leaving and we were the last ones to get on... After that, was shocked that the asking prices didn't come down. Moved out of the area, but kept my eye on N7 out of interest, and Victorian 1-beds in Holloway were still asking 250 last time I looked. No wonder nothing was selling (look on houseprices.co.uk) Islington is a tale of two cities; the rich south around Highbury and Angel, and the "down-at-heel" north in Holloway and Archway. I lived in Holloway for 11 years, and there are some some pockets of victoriana, it's really convenient for getting everywhere, but the main downside is lack of a decent park. But it is so much cheaper than N1. If I'd stayed in London I probably would've traded up to the Ladder at the back of Finsbury Park, or Stroud Green. Good links on Harringey mainline to Moorgate and KX, and zone 2 tube at Manor House or F Park. Try looking there. Avoid Hamptons International! Go for the independent eas who have to sell to survive. Good luck
  12. Barclays Woolwich are still doing 5x salary on both salaries. If both earn 20K and have at least a 10% deposit (unlikely for most people) you should be able to get a 200K mortgage. Wonder if Barclays will change their criteria?... BTW, this might sound stupid, but what does MEW stand for. Someone please explain...
  13. The economists don't understand economics either, otherwise more of them would've seen the crunch coming earlier. They deal with logic and mathematical probabilities, but often disregard human psychology, which in comparison to science, seems irrational. While there's good info on the main forum, I take it all with a pinch of salt. Some of the people on there seem to be money-making speculators with vested interests. Gamblers if you like. EG, sometimes there are armageddon-like predictions which I feel would serve that person's interests if it came true. Y'know, which currency is best to hold your assets in, gold prices etc. There's a really depressing one about deflation, and then there's another one about hyper-inflation. They can't both be true...
  14. Remember we are living in extremely unusual times with interest rates at 0.5%. Everyone seems to have gotten used to it, but I think I may be right in saying it is first time EVER that they have fallen below 2%. This is affecting things in a big way. It's like a pain killer after an accident – it will wear off On another note, spoke to someone at work the other day. Bought in London in 1999 with a 90K mortgage, but spent 110K (god knows what on – coke probably) so now has a 200K mortgage. Renting it out but losing money. Plans to sell it as soon as fix is over. He actually said he was over property and preferred the idea of renting. Quite an extreme example, but i think a lot of people have borrowed against their house (so they can spend it in B&Q god forbid). At the moment they are protected by low interest rates. Brown wants people to overpay into their mortgages while it's cheap, and it's working. Things will change. When rates go up, someone's monthly mortgage costs could easily double or more within a matter of weeks. Someone else talked about their cash savings being eroded by inflation: that process takes much longer. And anyway, inflation is currently -0.4% so your cash is increasing in value
  15. And that word "subsidised" implies you think the whole public sector should be privatised. Why don't you join the public sector? I think all the public utilities should be renationalised. The train service is now s**t and the most expensive in Europe. Plus there's no competition, how can you have when there's only one line. What a f**k up. The utility companies are now confusing, with all their tariffs and whatnot. Getting an energy supplier is like getting a mortgage nowadays ("er yes, I'll have a one-year fixed gas rate"). One not-for-profit public company would make it cheaper for everyone. I'm getting off the subject a bit, but it's linked to house prices, (taxes - money - pensions - BTLers - silly house prices)
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