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House Price Crash Forum


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Everything posted by jocohen

  1. I think thats why i find them so offensive. These programmes make simple minded people give up their jobs and put their lives on the line. I've not met anyone for almost a year who says 'they dabble in property'. I guess because most of them are just about surviving with the low interest rates. But as other factors come into play things will change, especially unemployment and interest rate rises in the next 12 months. I do pity for these greedy fools.
  2. I get the impression Niall Ferguson is going around attempting to rewrite history and particularly his perfect 20:20 hindsight. Unfortunately he is very ideologically driven and it was interesting that at a public discussion in the states he attempted to label paul krugman and roubini as communists. Even though they're explicit pragmatists and have been saying so for years. It does make you wonder what he was tryng to do with his book on the rothschilds which came out before these problems came about.
  3. I caught one of the few daytime bits of trash property porn. Again its almost laughable how a 2 second message points out how these auctions took place in 2006/7. And most dangerously profit is defined as a estate agent valuation at the end of the programme. Has anyone complained to the BBC about this rubbish. A particularly funny one today where an old farmhouse was bought by a couple and they installed a stable first before restoring the house. Of course local estate agents decided this added 80K and the wife gleefully told hubbie 'i told you it was worth it'! I know these programmes were made before the crash and the BBC needs to show them but it would be greater entertainment value if they could value them now and find out how many are still living there. Especially as many would have been funded through large mortgages. Of course where people are trying to improve the area and bring up families i wish them luck. But the assumption 'they're making money' is one we need to get away from.
  4. The reality is that there are almost 3 divisions of UK universities. I'm sure those coming from oxbridge, london, edinburgh and glasgow will be fine. the 2nd division with bristol, birmingham, nottingham etc still produce plenty of required grads. The real losers are the ex polys with their worthless qualifications
  5. Nice to see Blair and Brown are keeping themselves busy
  6. Having actually been there, its a very nice place and beats most places in the UK to live and bring up a family. Sure you're not going to find many pubs but long term if they avoid turning into somewhere tacky, it'll be a world financial centre. Remember dubai might be up s*** creek but its neighbours have the 2nd and 3rd largest pots of money available. I have no more time for greedy short termers who thought they were making a quick buck, but I've no problem with people setting up homes. We have no idea if dubai will sink or swim as a state or a decent holiday spot. But I hope it works out.
  7. Flanders 'more intelligent and articulate' - don't be so bloody stupid. Peston is a quality journalist whi has broken stories other journos would have never got near. Flanders is very average - typical BBC fodder without the talent or insight to enlighten the infirm such as yourself. Peston gives honest opinions - he's always been clear to keep well away from vested interests and if you disagree say why but he's been pretty good so far.
  8. Considering Greenspan was a disciple of the intellectual fraudster ayn rand I think her chance has come and gone with her philosophical allies : the nazis and neo-cons. We need true rational perspectives not ideological gibberish which attracts the weak minded followers of ayn rand disciples
  9. The horrid truth is that everyone who is thinking of buying knows that real taxation in one way or another will increase dramatically in the next 10 years. So well paid lawyers, doctors and other professionals will have to very careful how much they stretch themselves. Its clear that the decline in house prices will have to occur over some time, especially as government has fought the fall rather then embracing it which they should have done. We will spend the next 20 years hating the blair/brown years for making us significantly poorer. The one thing that may rescue us is that it turns out the eurozone for all their shadenfraude over anglo-american banking may be in even bigger trouble then us. But even that means we as a nation should embrace harder work for less hours and getting rid of social engineering rules such as working time directive, benefits for non productive types etc... whether or not we have the guts for that we'll see
  10. he's the most stupid radio presenter out there, have you seen him? goodness me has he declared he is a BTL? It really should be declared if BBC BTL's try and ramp up the market and seduce innocent buyers
  11. well said- there isn't a divide between honest productive workers in private or public sector. It is harder for public sector to be value added and easier for private sector to be criminally minded. But the real problem lies with ideologically based jobs, - council jobs to promote the teaching of certain sexual practices or teaching business/economics but never mentioning debt structures we are beholden to; and importantly the underclass which lives a parallel life of scrounging cutting the public sector is very easy, just means rolling back the ideological changes which the labour movement have pushed through. there lies the problem
  12. I remember a conversation with my son recently where he mentioned how the EA was able to suggest there was multiple bids for his flat when he was buying a couple of years ago. I heard the story from several people and have wondered how can we stop EA creating fictitious bidders. Now credit is tight EA have less room to lie. Government gains from stamp duty and hence never wants to regulate EA's. So shouldn't we on this website create a movement for honest sales, rewarding the few honest EA's if they exist. Some ideas to structure regulation needed? A campaign which may be a slow burner but may halp return the housing market to a sensible one rather then an arthur daly outfit.
  13. If this is true ..big if! then you're falling into EA trap. Goodness me, we shall spend the next 20 years in a high tax state. They'll be fewer well paid jobs and muppets still want to jump in to chains of debt. Save yourself from the burden. I know surrey and there is no shortage of properties around there with 30-40% off peak price. Sure there are odd pockets in london where the vendors price is still high but then they're still on websites after 18 months. Do not enslave yourself for a bonus to an estate agent.
  14. Its very difficult. I've had a situation where my son bought an over priced flat at the peak of the market and then wanted to move on 2 years later. I advised him to get ahead of the market and take a small hit which he may have been able to. Ego being what it is and the fact he's financially comfortable refused to accept this. 2 years on, the flat is at 15% below what he paid for it, no-one has seen it and there are half a dozen others in the complex pricing at 10% less then him. people ultimately see what they want and unless you need the money you'll lose more then you needed to. shrug your shoulders and carry on.
  15. To be fair Peston has never issued predictions, he has set himself clear and i think fair rules that concentrate on journalism. That's why he doesn't have shares and doesn't offer financial advice to the indidvual or make claims that hes some sort of sage
  16. its interesting how much effort estate agents have put into ramping up prices. The failure of this project must depress them terribly. the fact they fail to realise that unless they encourage the fall to realistic prices then they will fail as businesses very soon. can you imagine how many letters and time must have been spent in this futile effort based on the assumption the fall is due to 'markets being talked down'. It shows what amateurs many estate agents are not to know the difference between real business change is and what is hype.
  17. Can you reassure us that you're not about to go bankrupt?
  18. There are a lot of people especially in London who have bought houses at very inflated prices. Some realised this and have been trying to offload them. Very near me I've seen houses for sale at between £800K and £1.2M which are really worth around 400-500K. Now who's is stupid enough to pay for someone else's mistake. As long as the people are in work and interest rates are low they may be able to afford the payments or hope the occasional fool is soon parted with money. But the majority will advertise in hope or until they become bankrupt! The actual trades will occur between people who are trying to move and haven't made losses, those who bought in 2002 and can sell at 2003/2004 prices. As things get worse then they may struggle. the lesson is to sell early and price competitively and avoid fantasies!
  19. I can't help feeling this thread has a lot of very bored estate agents talking to each other!! Almost trying to convince themselves! The point in humanity where unemployment rises and house prices rise will be the the day the earth ends! Once estate agents are actually employing more people rather then sacking them will be a sign of things stabilising, it really is very straight forward. it may take a year or five but it won't be this year. Ask anyone whos in the furniture business like me and you'll get a real idea of when houses are being sold. Trust me we do pick up real changes in market direction and it ain't happening yet. I want housing to stabilise as much as anyone but for a sustained and steady return we need to reach the bottom and there is no sign that we're anywhere near that yet. The confused and irresponsible government policies continue to wreck our economy and with more red tape on its way nothing is changing for the positive. As i tell the decreasing number of young men and women who work in the estate agencies near me they need to change with the times. Honesty is one of the most powerful sales techniques in existence. Long forgotten in estate agents. Even car salesmen in some places are just honest - its easier and builds relationships. Money supply for mortgages will dry up over the next few years not ease up..increasing tax rates will reduce real income...house prices will fall for several years I'm afraid. theres no amount of bull**** that will change it!
  20. If you consider the depths to which the rouble has gone, the pressure from weak economies in the eurozone, the small size of the Australian economy..there are too many other weaker currencies out there. However having gordon the moron control our economy - he may find a way to destroy us all, despite us being the 5 or 6 th largest economy out there
  21. The analyst at marketoracle.com showed how falls in this market often have a rapid fall, a small bounce and then the bad fall. It seems as whatever bounce there was has come and gone. The fall in income from the rise in taxation will impact directly on all of our expendable income. The fall from the budget onwards looks as though it may be nasty
  22. Vince cable wasn't agreeing with the governments assumptions, he was pointing out how over optimistic they were- especially considering how wrong and over optimistic every estimate they have made has been!
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