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House Price Crash Forum


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Everything posted by Scooter

  1. Like lobotomy perhaps or has that already been tried?
  2. Another fiddle, just like changing the inflation measure a couple of years back. Why do most Brits not get it?
  3. Lots of oil but very few decent refineries. I won't be walking round Pt Harcourt again for a while-'orrible! S.
  4. Couldn't agree more. I live in NW3, not much of a mortgage left and I have been boring my friends stupid for a couple of years over the impending HPC. Actually a few have finally come to agree in the last few months and some now pretend that they agreed all along. I doubt £30,000 is average salary for Hampstead but even so, three/four bed garden flats-my target purchase-seem to be in the £700,000 to 1.4m mark for 1700-2500 feet on average, which I consider pretty stupid. I am bored to tears with waiting but I am loathe to line someone's pocket at these levels... I do not understand who would pay £150,000 for a Hampstead 1 bedder if deposit £15,000 and a mortgage for £135,000 required four times a £33,750 salary say. I am not seeing much selling at all and the same old properties on the websites that have drifted down by say £10-20K, a derisory 1% or so drop. The stalemate must surely end soon... S.
  5. Interesting-it really could have been written this week so there is the effect of crying wolf, or appearing to perhaps, over HPC. That said, various factors worldwide and here (eg BTL taking the place of FTB) conspired to prevent HPC then but not now I suspect. S.
  6. Rightmove "worth £150m" on an annual profit of £2m? Surely £20-30m would be nearer to it or less looking at the prospects for the housing market. S.
  7. Anyone who writes "Dear Friend" to a stranger generally arouses my suspicion, oddly enough... S.
  8. He can believe what he likes but he has just bought an even larger place than he has ever owned at just after the peak of the bubble. He may well come to regret this and will be telling you he has no intention of moving for years and is therefore not bothered by short term housing fluctuations. That may be true but he has not realised any liquid profits and will have a debt on a depreciating asset for years to come, when a bit of STR could have allowed him to buy the same house for less in a year or so and pocketed the difference. It is dull waiting for it to really happen but happen it will. Patience! S.
  9. Didn't the Pru recently repackage an existing portfolio of commercial property as a new investment trust and flog it to private investors as a new way into the latest frothy, sorry wealth-creating market? I suppose they meaning the Pru would be out of it at the right time but their clinets would be in it just in time for the big falls. This from their website: "Prudential Property Investment Managers (PruPIM) is one of the largest institutional property investors in the UK, with growing investment in the international property market, particularly in Australia." Doesn't sound like they are out of property just yet... S.
  10. Thanks. Occasionally I toy with moving out that way from NW3, especially as my brother just moved to somewhere stupidly large in Radlett. S.
  11. How much these days for a 4 bed detached round Ricky and are any selling? S.
  12. Same old b****cks from the halifax economist Martin Ellis though: "The economic fundamentals underpinning the housing market are sound.” Bit bored of hearing this sort of nonsense...
  13. Excellent-I am sitting on a large pile of dollars currently, received and taxed at $1.87 . But how low will the pound go? I am thinking/being advised around $1.65. Either way, it looks like it ought to prevent UK interest rate cuts, unless of course you think the MPC can be manipulated by Gordon Brown . S.
  14. "Mug" sounds about right... There are a number of 2 bedders in NW3 going for that or less, albeit not fantastic buildings. Your brother was shrewd or lucky but can rightly be a bit pleased with himself... S.
  15. Just what I was thinking. £170,000 for a studio-what a mug, and I live in the area so I am not easily shocked by stupid asking prices... S.
  16. Been watching prices on 3-4 bedroom flats for a year or more now-result, the same old trash up for sale month after month, virtually no change in (obscene) asking prices, virtually no sales. There are lots of "for sale" and/or "to let" signs up, often on the same buildings, especially in the less favoured roads. I am bored of waiting to move within the area but cannot argue with the economic logic of an impending HPC. Anyone else looking round here? S.
  17. Regarding a US strike on Iran, supposedly an attack was not authorised for before June but this was not necessarily saying that an attack should take place in or even soon after June. The new hardline President, however, makes an attack a lot more likelt as the Euro 3 negotiators now have little prospect of success. This will have interesting effects on the price of oil, if it happens, as well as increasing the risk of terror attacks in Western Europe and on the Israeli-Lebanese border. What this does for the dollar itself I am not quite sure. . . S.
  18. Saw his infomercial jetlagged at 4.00am in California a few months back-lots of happy forex daytraders claiming to have left McJobs and now earning many tens of thousands from home....I just took it as the next fleecing of the thousands after tech stocks and property flipping. S.
  19. Hi, Lurking for a year or so but I was so incensed by the Welsh article that I sent them the following letter and received reply as below: Dear Ms Doran, I have just read an article by Sion Barry entitled "things are looking up for first time buyers" which I think falls within your remit. I am e-mailing to complain that it reads as unquestioning Labour party propaganda and one of the laziest pieces of journalism I have read in a while. Our country is possibly heading for recession on the back of the biggest credit and housing bubble ever known in the UK, as engineered by Gordon Brown. This article trumpets the desperate measures that Brown is using to keep the bubble inflated and house prices extortionate, just so that he can take over from Tony Blair and fulfil his personal ambitions. The fact that Leo Abse was a Labour MP until 1997, presumably Christopher Agius' employer, surely exposes this as partisan nonsense. Yours Sincerely, REPLY: Morning I have forwarded your e-mail to Sion Barry for his attention. Best wishes Lorna Doran Probably won't get anything useful back but it made me feel a bit better. S.
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