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House Price Crash Forum


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Everything posted by jocohen

  1. I wonder if a few reports to the press complaints and other regulatory bodies are in order - if journos with undeclared vested interests are trying to ramp things up that would be fraudulent behaviour we need to get a few formal complaints in and see the responses
  2. shes the lady that thought there woudn't be a house price crash at all isn't she? how did she keep her job? I know economists have low expectations but still!
  3. ironically this will save us, as for all our problems we do control our destiny, even if it is in the hands of an incompetent buffoon who has the economic knowledge of a spoon. We may cut back public spending and ge our economy in a competitive state. If we can regulate EA's and stop using property as investment it should reallocate resources to more productive economic activity
  4. that will destroy the euro and eurozone as we know it
  5. well thats already true as it doesn't include those who are not on benefits which most sacked city workers are not on
  6. you may think its funny but I think with the number of people in significant debt it should be considered by government to help those who can't afford meals
  7. it does bring it home, 200k would only buy a small 1 bed flat in a moderate part of london. Even here the avg income is not 66k! it doesn't take a genius to work out how far things have to go before they stabilise, it is frightening. But there are so many people sitting with huge mortgages and who are bankrupt but fighting to keep their heads above water. There a few houses for sale in putney to wimbledon where the asking price is 750- 950K, identical properties around them are asking for 400-500k - which in itself is grossly overinflated! Imagine how stupid those people are feeling
  8. its such dangerous journalism i wonder if press complaints would be interested as its so sinister in its inaccuracy
  9. I wonder what the RICS strategy is - they are usually aware of what is going even if they do talk a lot of cr** sometimes. I suspect they realise prices will drop even more over the next year and want to be seen as getting some predictions right otherwise they lose all credibilty
  10. the only problem is that we ultimately pay for it. As our children and grandchildren will be for our current debts. bankers have no morality unfortunately its a rare trait everywhere - especially politicians
  11. 6 million would lead to the absolute collapse of this nation. You couldn't sustain any public spending with this level of unemployment. it would lead to civil strife. Is it impossible - unfortunately not - it could happen if gordon the moron and the twits continue in power
  12. The descent is tragic for so many people. I wonder if sellers realise how bad things will be ?
  13. This is the real tragedy of greed amongst bankers and estate agents - real people will suffer http://news.bbc.co.uk/1/hi/england/cornwall/7994428.stm I know that unemployment is a real blight on our society and its affects are so erosive
  14. i think HSBC is getting some very good publicity for itself. People will move current accounts across and very few people will be suitable for 95% mortgages ie the sort of people who don't need one! HSBC aren't going to be lending money to an average income earner so they can buy a house 10 times their salary. this is a push to take complete control of middle class current accounts, savings a nd mortgages for those professionals with (semi) guaranteed futures - teachers doctors and the like
  15. There are quite a few companies where pensions are going to be cut. I don't think I'll be retiring anytime soon with all this going on
  16. it takes some desperation for RICS begging sellers to be reasonable! they must want sellers to start dropping prices otherwise the ea's will be going bust even quicker then they are now
  17. thats all fine except for the fact the average estate agent is a liar. Any industry where basic ethics are ignored cannot survive. This culture is a new one. Certainly estate agents in the 70's when i bought my home were not known for their dishonesty. the culture of greed and the lack of regulation means anyone can 'job' as an estate agent and its brought the trade into complete disrepute. Don't estate agents, journalists and politicians usually compete for the least trustworthy group in society award every year? In the 70's it was only used car salesman who got that level of vitriol. It shows how times have changed
  18. it was this sort of behaviour that caused the house price inflation. EA's still don't realise that without widespread fraud prices will fall back into long term income to house price ratio range. Add the state of the economy and you have several years of decline
  19. it does still shock me when people buy into the fantasy talk from ea's and the like. I do feel sorry for people who put themselves out at the top of the market as they will lose huge amounts. I noticed on the zoopla site someone paid over a million pounds for a property in my area. Our is a nice area but I promise you they should expect to lose 50% of that if they sell now. they're a nice couple but who in their right minds does that to themselves.I can't imagine the pressure they have put themselves under financially. they maybe extremely rich for all I know but paying that much at the peak is so silly.
  20. Its actually something so many people ignore - forget mortgage burden - just look at personal debts in this country. I suspect many banks realise things will get worse for a while yet
  21. that is very small numbers in terms of national lending requirements. Note they are not changing income multiples which they lend and the days of 4-6 times salary or self certifying are over which underpinned the house price stupidity. My impression is that EA's are very desperate. After all if they were busy they'f be busy selling rather then spending time here!
  22. simple rational comments - good article
  23. that makes no sense considering the average street will have a range of recent prices sold and estimates made up with no info! try again using only recently sold houses or flats
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