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House Price Crash Forum


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Everything posted by jocohen

  1. The NHS has too many of every level of staff. This is where leftist ideological gibberish does damage. by signing up to European working time directive there has been a huge increase in doctors over the last 8 years as the government always tells us. But in terms of real doctors time available for us patients it hasn't changed. In fact its had an adverse impact on training of Surgeons to the extent that my son (a trainee surgeon) didn't let me have an operation by any young consultant and also warned me against his level of doctor - registrar doing the operation by themselves. I am massive fan of the NHS but listening to the contrasting tales from my kids shows how the government has wrecked many parts of the NHS with ideology. So you have under trained surgeons who are inexperienced but want to work longer hours but legally not allowed to. Then you have hospital doctors doing shift medicine so patients will see dozens of people rather then a fixed team. Things are a mess and then the improvements (from technology) nthe government takes credit for- unbelievable!
  2. what gibberish. The world credit supply was the proverbial house of cards, a problem somewhere was going to bring it all down we in the uk had and have a major housing problem, overvalued property and even the correction is taking its time, meaning the rest of us in the real economy are stuck trying to survive whilst greedy btls are taking us down
  3. thats quite funny, considering you can happily rent 3/4 bed house in putney for 1000, who is paying 1200 and that mortgage payment suggests a very small mortgage or interest only. The disaster of BTL is upon us
  4. gordon brown is an idiot but what do we do if harriet harman replaces him. She was eaten alive by hague, but shes a bigger fool then brown
  5. Why isn't this sort of chart being published by the papers or bbc, its quite clear that the bubble relates to overlending. The fact that unemployment will increase over the nest 12-18 months means we have a very long way to go. Depressing yes but we need to encourage sellers to find the bottom of the market asap
  6. Since when is Fox news a real media station. They are truly awful, they'll do hannan more damage more harm then good. Hannan's diatribe was quite brilliant and it should have been picked up by uk news outlets but I guess hannan just doesn't have a UK profile
  7. House sellers are waiting for their knight(fool) in shining armour. I know that people will get stubborn and as long as they can afford their payments they will hold on even if they could benefit financially from moving sooner rather then later. Its greed, they want their full price back ( from 2007) prices and then plug into the crash and buy cheaper!
  8. +1 Ayn Rand was devoid of any intellectual substance, interestingly greenspam was a member of her cult..says something about him.
  9. Although the truth is these are the worst times we will see, I see from my business and area that houseprices will fall for a long while yet, but essential goods and services may increase. thereby we'll get some deflation and inflation in the wrong areas. Interest rate rises would destroy even more house prices but may be needed to stave of further currency devaluation and inflation in the day to day economy. But we shouldn't lose sight that in these gloomy days we are a talented people. We've been through worse and we just paid off the americans for their services during WWII and we'll end up paying for gordon browns war on the taxpayer. We need to wake up and start valuing whats important: a manufacturing base, less service industry, homes not investment products, families over labours anti-family etc etc We will be OK it will just take time for everyone to wake up and smell the coffee..3-5 years minimum
  10. vendors are in denial, but its understandable. people can't stand the fact that they've made a mistake. It does damage the ego. My son bought a very nice flat 2 years ago at the peak of the market for a very overvalued price. Now his life has changed and he needs to sell, the fact that identical flats are selling at 20% less hasn't hit him yet. Even though he should be able to offset any loss by buying more cheaply as well he has just refused to accept this. All because he found an estate agent who valued the property at the price he paid and he won't budge. It a psychological thing, until people are personally affected they won't get a grip of reality
  11. rather odd tale. Considering the number of properties available for rent I doubt your missus should be too concerned. My worry is the number of to let signs that are going up will damage the value of certain areas as if the crash hasn't been bad enough. I get the impression that so many people who over stretched have moved back home with parents or there are desperate BTL's who need tenants that rental prices are going to fall over the next few years. May help counteract inflation
  12. Make that sort of loss and still pay a dividend. I know the shareholders may depend on that but how wrong is that. Especially as we as taxpayers will probably bail them out in 12 -18 months! I know our pensions are being destroyed and i do have a vested interest in that but at this moment getting the country stable seems more important
  13. Krugman is one of the economists who's made the right calls. You may not like what he says but hes been right time after time. So dismiss him at your peril
  14. stop gambling - bookies give you more stable odds!
  15. I'm all in favour of reducing public sector burden but that can be done be reducing the silly rules such as benefits which serve no productive function. we've changed and damaged nursing from a vocation to needing a degree - why do you need a degree to be a good nurse? ideological nonsense However teachers are professionals who make an important contribution and if they are paid ok that is fine as long as teachers teach and don't get involved in social engineering which happens a lot at the moment
  16. surely only savers benefit in theory - goods come down in price. Debts go up in real value. However the reality is that essential goods go up in price regardless and we all lose out except if we're senior bankers or politicians
  17. It does look like the euro may be in trouble if the smaller economies start to go. Even with all this money it seems as though the baltic states and new eu countries are struggling. can France and Germany look after them? I doubt it - strangely that does place us in the UK in a relatively stronger position as long as we can take advantage. This is unlikely with this government. SO much for a recovery over the next year. It takes something when irvin seltzer(?name) on newsnight is talking about some recovery yet offering no proof except hope. We're still not having that national debate on what we want from financiers and the like
  18. its strange with all this work none of local estate agents are out of the office any more then they have been for the last year. Its also strange how they aren't recruiting back all those young men and women who were laid off recently. maybe it just quiet for the guys down the road from us!
  19. Its the british ( which I'm guilty of) love of houses. In itself I think is good when homes are being bought. It goes wrong when everyone becomes a property developer. We've seen shoddy flats that have really plummeted in value. Have a look at the new build flats in manchester and birmingham - the developers are accepting very low sums indeed. Homeowners in the south east in particular are guilty of self delusion, whlist they are solvent they hope someone will take overvalued property off their hands at their price, occasionally it may happen but less so. We as a nation will have to live within our means and stop admiring those who don't add real skill or value to our ecenomy
  20. The difficulty is yes people have worked hard and have got caught up in this bubble through no fault of their own. They were conned by media hype/ estate agents/ financiers that easy credit was forever and house prices would rise magically. But those who stayed out often did because they read the market correctly. Again i have a lot of sympathy for honest home owners who were forced to buy a home above the odds because they were misled. In the current market - particularly in south london there are plenty of choices and prices are starting to drop significantly. So if sellers do not want to sell - good luck. But they will need a foolish buyer or will lose even more in a year or be forced to sell if their debts are unmanageable. Remember there can be no recovery until unemployment stabilises and as far as I'm aware its on the increase for some time to come.
  21. You mean a savings institution thats honest, transparent, not trying to make a quick buck, whatever next - good politicians and honest estate agents!
  22. It would be so easy to cut the public sector, just think of those teenage mums who get pregnant for a house; all the silly benefits open to the protected public sector, guaranteed pensions, european union moving city..the list is worth billions and just just the blatent obvious things. Only problem is that you need common sense to sort it out..oh dear
  23. I do sometimes wonder what the definition of talent is is these cases. Yes so there some clever mathematicians and scientists who decided to go into finance. So what, when does hard science translate into knowledge and experience ina social science such as finance and economics. There are no experts in these areas - just good judgement. Maybe these guys will go back to being maths teachers and doing something useful
  24. Pure and simple greed. People who want to make money for nothing. In the end its amateurs who get caught out.
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