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House Price Crash Forum


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About Bonzowaite

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    HPC Newbie
  1. Smug bump due to being right for once!! The best thing about these big corrections is that very greedy people usually fare worst as they refuse to believe that its coming and refuse to sell because a man on Bloomberg said that the S & P was gonna reach 1150 by the end of the year and oil is going to be $200 by August... etc. Why do people think that you can reverse the bear market 40% within 2 months without significant positive data? We all know what happened last time the green shoots appeared - people never learn from history even though market are driven by human emotions that rarely change over the years. Having said that, I wish I'd bought a few Barclays shares when they were 80p and ridden them up to 300p - hat off to anyone who sold their Barclays shares last 2 weeks ago. Rant over
  2. +1 I'm short FTSE at 4430, S&P at 942, and Oil at $69 (though dollar/pound exchange rate has eaten in a bit) as per previous posts. Only surprise is that it has taken so long for the reversal. My hedge of long Glaxo and Vodafone are wobbling a little after a good gain last week - not sure whether to cash in or see if they hold as fund managers buy them for relative safety? They have 6% + yield so might just keep them up my jumper for a couple of years.
  3. Don't say I didn't warn you foolish bulls who thought that you can just come out of the worst recession since 1929 by 40% in 3 months without some punishment and just carry on up to the peak by the end of the year.
  4. Here we go ..... it has begun at last! Common sense reappears. Anyone long in cyclical stocks / financials should either transfer to defensives or take their profits and run for the hills .....
  5. I bought a short FTSE 100 ETF on Monday when it was at about 4450, so I'm hoping it goes to zero!! weeeeeeeeeee...... DEAD CAT BOUNCE!!
  6. Long lists again today ... There was one Solicitor there with 4 bankruptcy cases to himself ...
  7. If schools are important to you, I would avoid Heaton Manor if you can. Lots of money spent - little end result. Gosforth High is OK but not a reason to move to Gosforth in itself. Unfortunately, Newcastle has far too many private schools when compared to other cities. If Schools are your main consideration, I would look at Ponteland or Whitley Bay High areas - better schools and cheaper houses.
  8. 1. I don't understand your point ... have you seen my Tax Return on a mislaid CD-Rom? 2. These policies can't possibly become more expensive than they were (15-30% of total loan as single premium + interest over 15 years for 5 years worth of cover riddled with exceptions) - do the maths. These policies are become more scarce as the FSA and FOS have finally jumped on the heads of those who have been mis-selling them to people for many years. Some, however, are keeping people's heads above water. In any event, these policies are usually sold by insurance companies - the up front single premium is paid by the borrower with the assistance of bank loan. Therefore, the more expensive they are the greater the risk to the lender. 3. How do you protect yourself if you have no job or income has halved due to partner losing job?
  9. Nonsense. I spend a large proportion of my life repossessing property on behalf of financial institutions. They want their money asap before there is even less equity for them to gobble up. I suggest you go to your local County Court and have a little look at the lists - jammed full of possession hearings / bankruptcy hearings / debt hearings / Consumer Credit default hearings / PPI mis-selling avalanche on the horizon...
  10. If Standard Life ever get their act together and actually transfer my pension pot to new SIPP, I will put my money where my mouth is. I just hope the bulls keep pushing the market up on early summer overconfidence so that I can ride the slide down to sensible "worst recession in my lifetime" levels ... weeeeeeeeeeeeeeeeeee! I switched out of UK Equity funds and into Boring Funds start of last week when FTSE was at 4450 ish. I stand by that decision.
  11. I really bad tenant and they're knackered!!
  12. 3 main things preventing (more) repo carnage: 1. Redundancy payments providing buffer; 2. Payment Protection Policies usually pay out for 12 months - there are millions of these floating around; 3. Low interest rates I expect repos to accelerate in the autumn as these market distortions disappear.
  13. The only way to change the behaviour of people who have nothing to fear from being declared bankrupt is to bring back debtors prisons. I don't think they can be described as fools given that their credit rating before and after bankruptcy will be equally bad. Also, they borrowed money when they had crap credit rating in the first place and so probably think they will be able to do it again in the future. The lenders win, the debtors win, the TAXPAYER LOSES. I haven't heard any Government ministers apologising for making the lives of bankrupts easier in the last 10 years. This must have had an adverse impact upon people's irresponsible borrowing behaviour. PS. Why should I subsidise people who want to buy a new car and get rid of a crap one? If I can't afford a new car, i don;t buy one. I don't ask my neighbour to chip in. PPS. I'm sick of people just blaming the bankers. Why can't we all admit that as a nation we have been greedy, stupid and irresponsible - no-one forces anyone to take out a loan that they can't afford to buy a Conservatory that looks like a greenhouse anyway. (NB: I'm not criticising those who are made redundant and just can't pay the mge)
  14. There are 5 days in a trading week - a lot can happen by Friday's close Inflation figures out tomorrow
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