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House Price Crash Forum


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Everything posted by zzg113

  1. Well, we're in Shanghai at the moment, which is an awesome city; some bits of the city look like they've been copied straight out of Blade Runner, whereas other bits look how I imagine they would have looked a hundred years ago ( ie narrow alleys, wires all over the place, people cutting up animals in the street etc); so the contrast between the old China and the new China is very interesting. Anyway, my brother's internet connection is really [email protected], so I'm going to have to sign off now. Keep on truckin', Z.
  2. Nah, just taking a break from HPC is all. My brother is working out in China at the moment, so I'm staying with him, seeing the sights. I'll probably be back in the UK for Christmas, although with house prices the way they are I don't think I'll bother coming back!
  3. Err, and why is that? Are properties bought by SIPP's not going to be sold in the usual way, ie through estate agents? So it is in EA's interest to push SIPP's. SIPP's= more buyers =higher prices = more profit for developers. But they would lobby for a massive tax handout for whatever investments they do make, ie art, race horses, jewelry, etc; which is what SIPP's are. LOL, yeah right, Labour stopped being a socialist party years before they got into power. Now they're slightly to the right of Attila the Hun. This is NU Labour, remember. Rubbish. SIPP's are a half-arsed effort by a desperate government to shore up growth in a faltering economy. Professional landlords would do this anyway, SIPP's or no SIPP's. No. What, apart from all the VI's listed above you mean? I suppose you could count mortgage lenders as well.
  4. Dom, BearLite asked a question. I attempted to answer it as best as I could. If you have a problem with that I suggest you see your psychotherapist to deal with whatever petty grudge or imagined slight motivates you to be such an arrogant pr1ck.
  5. Obviously if you put untreated waste vegetable oil (WVO) straight into your tank the engine will seize up pretty quickly; far too many impurities. I think you would get better quality fuel by using fresh vegetable (rapeseed) oil (SVO), and then turning it into biodiesel: http://www.schnews.org.uk/diyguide/howtomakebiodiesel.htm http://www.veggiepower.org.uk/altindex.htm http://www.veggiepower.org.uk/page208a.htm If you have a relatively modern diesel-engined car (post-1995), you should be able to use biodiesel without too many problems (the main ones being that your fuel filters will clog up a lot early on, since biodiesel is a solvent it frees up a lot of the deposits in the engine). Some of the downsides of biodiesel are that it is taxed almost as heavily as conventional fuel, and is laborious and time-consuming to make. http://www.biodieselfillingstations.co.uk/alloutlets.htm
  6. Where was your father when you were a child? How did you end up in foster care? Either you are telling porkies somewhere along the line or you had one seriously ******-up childhood.
  7. Amazing. One individual example and you have disproved the thousands of posts and rigorous analysis which states otherwise. I don't know why we bothered really, we should just have asked needle to randomly go up to a single person on the street and ask them if houses were overpriced, and if they said no, problem solved! http://www.findaproperty.com/story.aspx?storyid=6821 Nice, real nice. What a piece of work you are. Needle, all you ever do is bitch and slag this site off. Maybe you should stop reading it, do your blood pressure a world of good?
  8. http://news.ft.com/cms/s/d962e4c8-10e3-11d...000e2511c8.html
  9. Yes, well done, you have explained why house prices have risen, but not what causes the ripple effect. It would have been quicker to say: relatively fixed supply of goods + huge increase in money supply (and hence aggregate demand)=higher prices of said good. The ripple effect is easily observed on a local level; price rises in a desirable area (such as Notting Hill, for example, after the film of the same name was filmed there) caused price rises in the surrounding areas, as people who would like to live in Notting Hill but couldn't afford it settle for the next best thing, living in "Notting Hill Borders" (ie Westbourne Green). This then causes people who were looking at Westbourne Green, but now cannot afford it because the Notting Hill crowd have moved in, to look at the next best thing (ie Kensal Rise), etc etc etc ad infinitum. Also, property "investors" tend to look for BTL's closer to home, as they're easier to manage, but then as prices rise there BTL investors have to look further and further afield, magnifying the ripple effect. Also consider the effect of people selling their tiny, expensive house in the Home Counties/London and moving to a bigger house in the North/Wales/anywhere cheap. This is a form of market arbitrage.
  10. Yet more than 30% of them do...strange, no? http://www.realtor.org/PublicAffairsWeb.ns...ip?OpenDocument I doubt there are many cheap houses in San Francisco or San Diego or LA or Boston or any other large metropolitan centre (where most of the jobs are). http://www.ruralhome.org/pubs/hsganalysis/.../households.htm http://www.rhol.org/rental/homeowner.htm
  11. I believe at the time of the last crash the government paid the interest on your mortgage if you lost your job. AFAIAA this is no longer the case: http://www.jobcentreplus.gov.uk/cms.asp?Pa...AgeBenefits/493 http://www.jobcentreplus.gov.uk/cms.asp?Pa...AgeBenefits/497 http://www.dwp.gov.uk/lifeevent/benefits/m...rest_run_on.asp http://www.dwp.gov.uk/lifeevent/benefits/housing_benefit.asp
  12. But then again it also means we don't have to go to war to secure cheap supplies of oil.......hang on.......
  13. The tenant is paying you money for providing a service. By neglecting your duty to maintain the property in a fit and proper state in accordance with your duties as a landlord, you are both breaking your contract with the tenant and the laws of this country. Landlords, scum, what's the difference. http://www.odpm.gov.uk/stellent/groups/odp..._033540-02.hcsp
  14. So if murder was legal it would not be murder? Q. What do you call 1000 lawyers at the bottom of the ocean? A. A start.
  15. That is almost certainly unenforceable. For the time you are renting a property, it is your home, and the law recognises it as such; no-one can tell you who you may or may not have in your own home. http://www.oft.gov.uk/NR/rdonlyres/36623FC...02/0/oft381.pdf http://www.letlink.co.uk/Facts/Lfacts10b.htm Will probably come under "unreasonable ancillary obligations and restrictions". http://www.manchester.gov.uk/advice/factsh...rent/unfair.htm It is ridiculous to forbid tenants from having children on the premises (as well as legally unenforceable) on the grounds that they might damage the property; that's what the deposit is for!!!
  16. Or move to a country where housing costs aren't so ridiculously extortionate (Germany, for example).
  17. Um, if FRB (fractional reserve banking?) IS theft, who is it theft FROM? It can't be the depositor, because they can always go to the bank and withdraw their money at any time. It can't be the people that money is lent to, because nothing has been taken away from them (stolen), rather they have received something.
  18. That's ridiculous. So if oil suddenly jumped from $67 to $200 and stayed there, all that would happen is a one-month spike in the inflation number, and then go back to 2% or whatever? I thought inflation was supposed to measure the change in the cost of living, not the change in the change in the cost of living (that's not a typing error BTW). http://news.ft.com/cms/s/b2e12d12-0f0a-11d...000e2511c8.html http://www.thisismoney.co.uk/news/article....44&in_page_id=2 http://www.rte.ie/business/2005/0817/boe.html Yes, the markets were surprised by this number.
  19. Troll. If you aren't going to debate constructively and non-offensively, leave.
  20. It is a horrible jungle out there with cut-throat vendors who can sense a desperate buyer and are wantonly asking ridiculous amounts of money for their miserable sh1theaps.
  21. You jest, but someone has done exactly that: http://www.themovechannel.com/sitefeatures...cological11.asp
  22. Yes you can. If I kill my aunt to inherit her money, I am acting in my own rational interest. Is that not something you would criticise? If the levels of HPI of the last few years had continued, buying at these prices would have been rational, as sure, you would have paid a lot for the house, but you would also make a lot. The period of uninterrupted UK economic growth from 1992 til now has lulled people into a false sense of security. Err, and in whose interest would it be to promote such a message? Not the government. Not the credit card industry. Not the banks. Not the high street retailers.
  23. Err, in which universe? Light, sweet crude oil futures traded on Nymex have futures prices above spot from now until 2006 and beyond, as the longer-dated futures have very little liquidity so the prices beyond that maturity are only indicative.
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