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House Price Crash Forum

Elizabeth

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About Elizabeth

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  1. Rubbish and rubish and rubbish, I have been a habitual renter all my life and I just bought for all the right reasons: I can afford it I can afford it if interest rates rise 4% I really love it and I can afford it if interest rates rise 4% And based on the current repayments I am going to end up with the interest costing less than the rent that I would pay over the same time - key factor in decision making (hence I am only paying for the asset - only $15,000 more and I would be well out of pocket) If any of these conditions didn't apply I would continue to be a habitual renter. Bottom line - if the numbers don't add up, don't buy. If the numbers don't add up, haggle.
  2. Hi guys. Its good to see you all again. I'm so sad about this property crash. I'm truly facing my property demons now. I just bought a house for 20% off what the investors paid for it last year. Broke my heart as I haggled. Mortgage of 3.45 multiple of my income and I am financially in a position (touch wood) where I can assume a 10% interest in my payments. Its a very nice house in a great location, and people keep telling me that I got a bargain but I keep telling them that I paid the right price. (or should I now be talking the market up? ) So a bear becomes a buyer but not a bull - just somebody who believe in the treating the market for what it is and only buying when the numbers add up in any particular instance.
  3. Its back This is 2004/5 revisited... except that there is no booming economy to back it up. I remember when these schemes first came out, and it was at that point that I joined HPC. I was on 26K and I couldn't make sense of how I could really afford a 300K flat in London when the rent and the morgage between them were going to cost me 3/4 of my income. This shows just how desperate the government are to prop up the property market, particularly with a plunging pound (which, as I understand it, will compound the effect of a price drop on the contraction of the economy in relative terms) There is a serious crash coming to Britain finally (too late for me, but ... oh well)
  4. Re, this optimistic explosion in the Oz market... It won't last. When does the $25K subsidy turn back into $7.5K? - end of this month I think. Its just first home buyers rushing to get that extra 12K before the coach turns into a pumpkin and paying an extra $50K to do it. We've had a little mini property boom in our area, and its all young families desperate to cash in on the subsidy. My oh my, I always thought that one of the things that made Australians just a little more canny than the British was counting before we acted with overinflated mindless consumer exhuberance... I was wrong. No difference. Anglo-Saxon lemmings all of us.
  5. I actually don't mind those people who see it as a jolly. What I object to is the sort of Universities who hire Oxford graduates who then tell their second year psychology students that if they don't get the result that they want from the sample just add to the sample until they do. Unbelievable. Less places, better quality, or a return to trades training, so that you can actually find a mechanic under 50 who knows what the bits in teh car are and what can go wrong with them and how to fix them (alternatively of course there were the polish, but they have gone home)
  6. Other thing is, how come she doesn't know who it is if she had already used the account to pay something else? Didn't it have a name on the link that would remind her? Maybe she should check her bank statements.
  7. Well actually, to maintain parity between the 'value' of things and your previous exchange rate everything does have to go up. Check the value of your favourite British company in American $ or Euros today against its price in the same currency at the rates that were around then, a year ago.
  8. Typical of the failure of this government to actually implement laws. In Australia you would have to give it back, but 6 months after I left Britian I am still in a fight with Orange about whether a fraudulent sales transaction is their responsibility or whether because this government invented an incredibly clever outclause for big mobile phone companies, it is covered by the Distance Selling Regulations and they can sue me but they don't have to prove their is a debt. I have repeatedly told the debt collector to take me to court, and if I ever have a fixed address they just might! Blame the government. They are a pack of the most bottom licking toerags.
  9. No you import stuff because you have a government with an Authoritarian mentality that kowtows constantly to rules if the rule maker is structurally 'above' them, and which happen due to the structure of things, to be made to Brussels for broader political reasons than the welfare of the local economy and the reduction of food miles. So the govt pays for farmers to leave their fields empty, as opposed to the French attitude which is to keep the EU as a matter of manners and economic convenience and apply the principles if there isn't too much resistance from the peasants, in which case Peasants v EU isn't a contest. Viva La Revolution!
  10. I'm struggling between 'OH POO. why did I leave the UK when rents are finally affordable?' and 'thank god I got my money out while its still worth anything at all'. Anyway, I can't get a job (50 apps in the last 20 days and no love at all), but its a beautiful comfortably brisk evening and I expect a sunny day tommorrow.
  11. No, he's right. The time is right. The way things are going you are going to be lucky to buy a can of beans with 600K in a year. That HYPERINFLATION. The interest payments should be a British New Penny out of his pay packet. Dear me. If only the current mob had learned from the mistakes of the Weimark Republic (and our mate Bob Mugabe)
  12. Correct (of course!), and as the $GB reaches historic lows, so the relative value of the housing also decreases so the entire economy shrinks to relatively horrid levels, and serious money runs away from the British economy to pump up the Australian economy even further (as if we need it, given the effect on exports), and it all gets very cyclic without anyone doing a thing or any changes in the productivity of the activity based economy... and then the activity based economy responds to those conditions by shrinking... and... Nasty stuff. They shouldn't have pumped it up in the first place.
  13. I think that the technological utopia has become a massive dystopia. But people just can't stop themselves from getting trickier and trickier. the reality is, there will always be some fraud because it is human nature. Making fraud impossible is a dream. Making it undesireable and managing the levels is all you will ever do. The future is not futureproof, it is just one of any number of realities we want to creat. I would for one don't see how a digital coin would improve human existence. It would simply be another hurdle for an enterprizing thief to get around.
  14. The real problem is that they never remove that first $7,500 because it was introduced to offset the GST and therefore has become sacrosanct. As far as I am concerned all bets should be off and if people want to buy a house, they should learn how to manage their money first. It means that any fool can produce a 5% deposit and as you say, a lot of people are buying who really shouldn't be.
  15. If they had done this the first time round with existing first time buyers in trouble, and possibly transfering the loan including risk and interest to a government fund, instead of paying for bonuses for bankers I might be impressed. Save a few homes, lose some money, but undercut the cost through interest from the ones that survive. But no. They had to nationalise Northern Rock and then turn them into complete bastards that created even more homelessness to try and save some money. All they are doing is assuring the banks further profit by guaranteeing the riskiest end of the market. Its another giveaway to corporate Britain. It has nothing to do with the individuals or their loans. They have no intention of claiming the benefits of the risk. Only the risk, at taxpayers expense again. SOD EM.
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