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House Price Crash Forum


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Everything posted by Ellie

  1. 1. Don't buy property - dead money 2. Don't save - spend all your money enjoying yourself. 3. F**k tomorrow - enjoy today and let the rest take care of itself. Do what you want to do not what you think you ought to do. That's my advice. It works for me! :-)
  2. But don't forget it's less than fifty years since Greece had a military coup, its not always been a smooth ride for democracy. (Apologies if this has already been pointed out in this thread, I can't be bothered to read twenty pages.) edit - FORTY pages
  3. Posted on here a couple of weeks ago - got moved to anecdotals though - finally exchanged contracts today. Havin a teensy glass of wine in celebration. You can all carry on shouting about house prices falling through the floor now - I was praying the buyer didn't read any papers or know anyone who frequented HPC! Ps. not selling to rent - selling to tent. Off travelling.
  4. Yesssss - have just exhanged in the past half hour. Buyers have obtained a mortgage with HSBC. :-) Eight months on the market and £30k off original asking price. (3 bed semi, was on for £185k dropped to £155k). Sold it for slightly cheaper than the average asking price but a bird in the hand and all that... Not selling to rent - selling to tent Going to go travelling/walking for a bit.
  5. This is the reality of renting in this country. Assured Shorthold Tenancy (they always are these days) Provided the deposit has been properly lodged and notice correctly served then two months notice WITHOUT ANY REASON is good enough. NO wonder people want to buy mortgage up to the hilt in order to get some security. Tenants have no rights whatsoever and squatters rights are pretty much a myth also btw.
  6. Just one week -or maybe two -then you can all go on as much as you like. Holding my breath - can't believe that I actually have a buyer after months of trying to sell my house..shhhhhhh everyone, nearly there!
  7. This is true. And why? Because customers were complaining about the poor quality of shoes from China. UK DR Marten's are, of course, sold at a higher price to reflect the higher quality.
  8. Well I do have a problem with Chinese goods because invariably the quality of the product declines. I could cite any number of examples - in my areas of interest (outdoorsy): Berghaus, North Face, Scarpa, Mammut, Dr Martens etc etc etc. Mostly of course these brands are seeking to reduce production costs whilst maintaining high point-of-sale prices by virtue of their good name - earned prior to their moving production to China. China-produced goods invariably means quality-creep and I am sick and tired of paying for a well known brand only for it to fall apart after a few months - if I had paid less for a Chinese own brand then I would have thought ah well you get what you pay for but in fact you pay a large amount for what is now an inferior product. I never buy anything made in China if I can avoid it - unfortunately this is becoming more and more difficult.
  9. This is entirely anecdotal but a friend of mine spends one day a week in the county court advising mortgagors in repossession cases. A year ago she said it was quiet, in her words "too quiet", now she cannot get around the cases that are in the waiting room, mainly sub-prime mortgagors where the lender has gone for possession. My belief is that lenders, having been told to hold off, have now been given the go-ahead to repossess. This will, of course, take time to feed into the official figures. edited for typos
  10. Lol. Can't help but think that if we had more professionals and less "proffessionals" then this country would not be in the state it's in. Bunch of illerate spivs running the show. Scary.
  11. Rightmove How about this "detatched bungalow" round the corner from me...
  12. In Russia the Finance Minister recently urged people to smoke and drink MORE as an act of patriotism. As if Russians need any encouragement... “People should understand: Those who drink, those who smoke are doing more to help the state,” he told the Interfax news agency. link
  13. "The average person lost £11,300, equal to £22,600 for a couple, according to the Institute for Fiscal Studies." Wow, that's really helpful. After all, it's pretty tricky, multiplying by two.
  14. Historically ISMI (Income Support for Mortgage Interest) was paid at BOE base rate plus 1.58%. Plus you couldn't claim it for the first 39 weeks of claiming Income Support. Most people were paying more than this and so would have to either make up the shortfall or get repossessed. It was not a particularly generous scheme in my view, by the time 39 weeks had passed it was too late for many people. It was only the interest that gets paid not the capital, so anyone who has had their mortgage for a long time would get very little in ISMI payments. Then in 2008 the Govt broke with the 1.58% rule and stated that they would hold ISMI at 6.08%. In January 09 they also reduced the waiting period from 39 weeks to 13 weeks. They also increased the maximum amount of loan from 100K to 200K. This was all part of their strategy to prop up the housing market up and minimise repossessions, but has now resulted in the ludicrous situation of huge numbers of people being overpaid on their mortgages by the state. That is those that are on a decent rate ie. the ones with a decent credit rating so able to get a mortgage at below 6%. The ones on Lehman style sub-prime mortgages were of course stuffed from the second they signed the contract. ISMI is normally paid direct to the lender so any excess will pay off some of the capital which was never the original intention. It was the decision to unhook from BOE rates that caused the problem IMHO
  15. 250K is a small price to pay for the joys of being single.
  16. There is quite a difference between having 50k and 20k to spare. If I had 20k - I would think about what I REALLY wanted out of life and spend it that way - a two year trip travelling, or maybe buy a nice campervan, or buy a boat.... If I had 50K - ditto - but maybe five years travelling, an extra nice campervan, or a super-dooper boat If I was a boring fecker I'd invest it witha view to buying a property in a few years time..but who wants to do that? Be dead soon... If you're so unimaginative you don't know what to do with it except invest it in yellow bits of metal pass it along to someone who would make better use of it.
  17. Sorry - this is a bit obscure - and for reasons I won't bore you with, I would like to know what caused the run on sterling in September 1931 and the ditching of the Gold Standard on 20th September that year? In particular - did it relate to the Invergordon Mutiny four days previously? Help appreciated. Plea to Mods - can you let this stay at least for a day or two in the main forum? Even though it shouldn't be there really. Ta Ellie
  18. Totally agree. HPC is well underway in the "provinces" ie anywhere outside the south east. Just look at Property Bee. Prices outside the southeast are bombing. I know cos I am currently selling (or trying to ). It is going down big-time, and it is only a matter of time before south east England catches up with the rest of the country. Forget the indices, look at the real price that houses are selling at. And the number of unsold properties on the market.
  19. I put up a hanging basket. That should do the trick
  20. It's in East Bristol. Yes, the finance sector accounts for at least 20% of the workforce, there are also a lot of call centres and so on. But I don't think what is happening here is much different to anywhere else outside of London and the south east, the latter staying buoyant (for now) is skewing the figures. Its a lot more than 0.6% drop quoted by Halifax this morning that's for sure. If it doesn't sell at this price we will take it off the market and hunker down, at least its paid for so we'll all have somewhere to live when TSHTF! But I wanted to show that out here in the real world the HPC is already gathering pace. The figures will catch up eventually.
  21. Posted earlier that I was selling a house I inherited. Original advice (four months ago) was to put it on at £190. Didn't sell. Dropped to £185 didn't sell. Phoned EA and said (I* told him) only chance of selling is to get infront of the curve. Now on for 165K. One viewing.HPC is well and truly on, every house in my area (Bristol) has dropped in price. And is dropping fast. Lke a effing stone in fact. So don't tell me HPC is off, it is still on here at any rate.
  22. This raises a query - credit card debts are normally "charged off" ie, sold as bad debts to debt collections companies for a certain percentage of the outstanding amount. Can anyone tell me whether the 1.2bn of credit card debt that was written off in Q1 2010 was the gross write off figure or the net figure after selling the debt on. Just curious. And I assume the figure does refer to debts which have been charged off, not simply where the account has defaulted? Anyone help with this?
  23. Brilliant thread.., its just like being in the bar late at night in my university days...arguments about conspiracy theories, the anarchist v statist debate, and a bit of "what is evil" philosophy thrown in. Brilliant, makes me feel quite nostalgic. Keep it up lads.
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