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Caveat Mortgagor

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Everything posted by Caveat Mortgagor

  1. Ooooooh, so close. But benefits are not the problem, they are the solution to the house price:salary ratio. Someone put a thread on here a week or so ago showing the take home pay of a family with 3 kids. If I recall correctly the family with a £47k salary have the same income as a family with a £25k salary after various state robbery funded gifts to the lower earners. It stands to reason then that if the family on £47k can afford a £150k+ house, then so can the family on £25k. Its a very strong Bull argument and I hate it. But if anything is going to prevent houses reverting back to previous ratio norms, it is working tax credits and child benefits.
  2. Made me angry watching it. Kirsty, My wife and i have spent 4 and a bit years paying our landlords mortgage. Given him £27k in that time. It was a newbuild. We were the first people to live in it. An identical property has just sold for £31k less than it was bought for in 2007. It wasnt a forced sale, its the best price after 2 years on the market. I'll repeat for the sake of clarity: the £31k loss is on an identical house which cost exactly the same when bought from the developer. In the last 4.5 years my landlord has had to forego interest on his deposit, pay interest on a mortgage, complete about £2k of maintenance and have the hassle that goes with it (ooh and hes probably paid 15% of my rent to the letting agent in fees but thats a side issue.) Landlord has also had the costs of buying his asset, and when he wants to cash in his 'investment' he will have costs of disposal. If we had bought that house we would have paid about £430 a month more to pay a mortgage than we pay in rent. The lower rent payment has allowed us to save money to get married and increase the size of our deposit when we do eventually buy as well as allowing us to buy a new car for my wife. In was dismayed at your comments to the nice lad from Nottingham. He reasoned that the houses he was being shown were expensive. You belittled him with a load of outdated nonesense. I find it abhorrent that you belittle and mock him whilst pretending that you have taken him to your heart. I find it difficult to comprehend the reasoning for your unbending advice to buy a depreciating asset as it will be an investment. Why did you lie to him, and condition your viewers to believe that renting means you cannot save money? You are a disgrace.
  3. ".... for hard working families" Guaranteed instant Tourettes tick everytime.
  4. Wonder if he has a son - lets say currently 15 years old - who could take acting lessons ready for making a speech at next years Labour Party conference - just before the leader renounces bad businesses.
  5. Up last month in my area. Last month we were back at June 2004. This month we are back at July 2004 Every cloud.......
  6. Everywhere I look I see falling asking prices and (sadly) rapidly increasing rental prices - gulp! As further proof that prices will fall without IR rises. Despite some thinking that vendors are all sitting comfortably due to low IRs, the link below is a shining example that just as many are are really uncomfortable. No price move for 14 months. £70k off 5 weeks ago, another £60k off today. Only one way for house prices. Despite what may happen from a national perspective from one month to the next, the general trend in this area is going to be sharply down!
  7. I welcome your efforts frenchy, but I would perhaps have omitted the bit about rate rises sorting the problem out. For starters, no one thinks rates are going up any time soon. Your statement thus loses its impact as its doesnt convey any sense of urgency. Also, I think the interest rate argument is a red herring. They wont be the tipping point. They will merely heap more misery when things are already a long way past bleak. In fact, I often wonder if the focus on interest rates is propagated by VI's as it lulls buyers into a false sense of security and distracts them from the issues that may ultimately cost them their homes! The cost of living is increasing faster than incomes. The tide is already coming in slowly. Hundreds of thousands of mortgagors are already underwater and a greater number are merely 'up to their necks'. But we (potential buyers) are happy to believe they are comfortable. Interest rates will simply finish off those who escape the drip drip drip attack on their standard of living that inflation represents!
  8. We are being prepared for QE. I felt sick this morning watching the beeb. They reported a fall in the stock markets around the world, and (completely out of kilter with the way a news story is usually reported) they followed this up by saying, "if you dont think this affects you, it will if you have a pension, a stocks and shares isa blah blah blah!" If only there was something the politicians and bankers could do to save us from 'the brink'. Ooooh, its scary being on 'the brink'.
  9. She bought her husband Kevin a rolex for his birthday. "Do you like it ?" she said. "It's great!" Kevin said "it will remind me of your pussy". She laughed "is that because its exclusive and sexy?". Kevin replied "Nah, its a bit loose round my wrist!"
  10. £565 a week in the hand....... If only she had been putting something else in her hand, none of this need ever have happened!
  11. Its a shame it wasnt possible to question Shapps about the rebalancing between house prices and rents. On the radio he acknowledged that House prices had doubled or even trebled yet rents had risen in line with inflation. He now foresees a rebalancing where rents and house prices re-align. Any sensible person would see that rents had remained affordable yet purchase prices hadnt; any sensible rebalancing 'should' be for prices to fall back in line with rents. He seems to accept that rents will increase to fall in line with high house prices. How can he in one statement say he felt sympathy for Ed and his position and then go on to implicitly acknowledge that the situation will undoubtedly get worse? He doesnt appear to have any joined up thinking or understanding of the problem he should be addressing as housing minister. Edit - My question would be.............. Mr Shapps, you have often stated you want stability in the housing market (ie stable prices) and have today said you foresee a re-balancing effect between house prices and rents. This must surely mean that you expect to see rents go up. You have just said you feel sorry for Ed and his situation. Please now explain why you think it is acceptable to price him out of owning a house, use his taxes to maintain high house prices and use his taxes to to punish renters in the form of driving rents higher still whilst giving tax breaks to the landlords that benefit from his hardship. Another edit to add: Well done Superted. Most of us moan about the situation by punching keys on a keyboard. You spoke to millions of people this morning.
  12. Indeed. Just been section 21'd after more than 4 years 'cos the landlord wants to move a family member into our home.
  13. Surely a Range Rover (and others like it) would be too high up to get through the door at the bottom. So the only vehicles that could avoid being grounded at the top of the ramp down to the garage entrance would be too high to get through the door at the bottom. FUBAR!
  14. I'm not surprised the Germans are doing well. They seem to understand the company car tax rules here in the uk better than any uk based manufacturer.
  15. Where are you leading with this? I assume it is to help with some sort of calculation of how much spending power per head is diluted with QE. Actually, theres' no logic to my rambling - it wouldnt work because it just puts more money into the numerator pot with the same denominator.
  16. Since people are arguing about whether its a huge amount or not, could I respectfully point out that the £32m figure calculated in this post and quoted by others is wrong. Someone please tell me what is 32% of £1,000,000,000!
  17. Mrs Caveat would not have to work, freeing up a job and enabling someone else to escape from being a statistic.
  18. I bet the vendors of this house wish they had met the driver a couple of years ago Chase the market down. £130k Apr 2009, reduced (AGAIN) today to £90k.
  19. Nationwide (pej) An insignificant release. A figure decided by committee and a report concocted merely to support said fabrication. Bears no relation to reality.
  20. http://newsthump.com/2011/08/31/gyms-urge-cash-strapped-britons-to-ditch-mortgages-or-risk-bingo-wings/ Gyms urge cash-strapped Britons to ditch mortgages ‘or risk bingo wings’ Gyms throughout the UK have admitted to secretly contacting struggling members, urging them to cut non-essential expenditure such as crisps, mortgages and life insurance. “Some members are struggling to meet our already reasonable ‘Super Platinum Hero Saver’ membership fees”, explained Dick Heuer, owner of the chain of ‘Rawthighs’ fitness clubs. “But when you ask them to choose between a roof over their heads or a really ripped set of abs, the choice becomes obvious.” “That’s why we now let so many of our members live in tents in the carpark.” Gyms very important say Gyms Consumer groups have accused gyms of exploiting their customers but Heuer dismissed this suggestion: “Our members will all tell you the same thing: if you can’t bench-press 200 kilos, can you live with any dignity anyway?” “Our gyms offer all the facilities of the modern home: showers, TVs and special powdered drinks to build massive thighs.” “Who would honestly choose to own a home, when they could spend every waking hour pounding our treadmills watching Beyoncé videos?” Gym member Gary Trimble is much happier since he handed his house keys back to the bank and moved into his local club. “At first, I missed my family, obviously. But since I started spending more time at the gym, I haven’t looked back. In fact, I can barely turn my head at all with my new 23-inch neck.” Gym membership can also cut down other costs, as Trimble explained: “I’ve been keeping everyone on Facebook up to date with my regime: ‘checking in’ to the rowing machine, ‘Liking’ the sauna.” “I seem to have encouraged them. My mates must be so busy working out these days that they never answer their phones. It’s saving me a fortune.”
  21. I take issue with the title of this thread. This is merely a desperate measure to keep prices at their current insane levels. It will not push them onwards and upwards. Anyway, on a lighter note, if only someone had thought of these 40 year mortgages a bit sooner, these poor devils would not have accepted a 'loss' of £300k in the last 4 weeks! Please rev up lending I fooking hate losing £10k a day!!!!
  22. Huh, why would they want to embarrass themselves by pointing out how inadequate their advert was? They are competing wth a number of other telesales companies locally and if no-one has responded it suggests what they offer doesnt match up. They are up against a number of other higher profile employers who offer higher salaries. Some run training courses / academies to create a desire amongst candidates. Many have a much better corporate image ie does the average telesales person want to admit they are in telesales, or do they want to work for a bank / other financial institution and call themselves a customer service executive? PS - some very silly attitudes to sales people on this thread. I havent worked for a single company that didnt sell something. Think you'll find that is the case for most of the private sector...... Except of course the larger companies who get their business by lobbying government and being awarded nice juicy contracts for no real effort and regardless of whether they they provide a service or product that is any bloody good. I know which type of company we should moan about first!
  23. As of last month Coventry was -5.5% YoY. The sudden surge in the volume and scale of price reductions on Rightmove suggests that vendors have been sent a harsh lesson. Would be very surprised if there hasnt been a drop here.
  24. Nope, I didnt call it anything. I alluded to something starting, despite low interest rates. A huge majority of people on here cannot see HPC coming unless rates rise. I believe I see the early signs of a change in seller sentiment even though rates are 0.5% for the foreseeable. I dont know if you have property bee Ken, but that property is one example of an increasingly popular phenomenon of a small drop being followed by a much larger drop only a matter of 3 or 4 weeks later. These two tier calm-then-more-urgent drops are a new phenomenon around these parts, and I've seen a few in the last few days. Here's a couple I posted up last week Dropped 3 weeks ago. Another 9% drop today! 3% drop last week. Another 13% drop today! I am not calling the drops as fait accompli. I thought it may be a sign of changing seller sentiment.
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