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Everything posted by exiges

  1. Sure, you can "get on with your life", but you're not settled. Various things make renters unsettled: 1. Sword of Damocles hanging over them, fearing the landlord will want them out 2. Inability to decorate, make things how they want, firstly because the landlord won't let them, but also they don't want to spend money on something they may be asked to leave (see point 1). 3. Shortage of good rental property (around here) means that you may have to move your kids out of school whenever you move. Not to mention the cost of regularly moving, and you can't vet landlords sufficiently, no matter what people say. The agents are not your agents, they are the landlords agent. If you don't care how your house looks, can fit all your stuff in the back of a transit, and have no kids, renting (in the UK) is fine.
  2. I guess the point of my question, wasn't to argue whether we think there will be an HPC of any note, there are plenty of those threads, it was more a hypothetical question what happens if we just get tiny annual nominal falls, are you going to keep waiting, or when will you give up.
  3. For 3yrs now we've had the drip drip of ~0.2% nominal drops, nothing significant, sure by the end of the year we get maybe 1-2% drops, well whoopde doo. If we continue to have similar drops, are you still going to wait it out, or will there come a point where you throw the towel in ? (For the sake of argument, let's ignore any HPC in real terms, in terms of gold or your asset of choice)
  4. Indeed.. maybe it's just another one of their seemingly relentless PR moves.. "Mumsnet lets poor people in"
  5. Constant growth the cancerous cure, a swarming race of profiteers ensure cheap cars for the rich, cheap lives for the poor, cheap weeks in the sun, free drinks at the door. Puerile propaganda plugs up the TV, keep folk following the money so they'll never be free. Bankrupt schools grind out fool after fool then feed them to a system where idiots rule. Polling booths, phone votes, bogus questionnaires, you get a say as if anybody cares. Joe Public doesn't want to play so liquidate his life as he looks the other way.
  6. http://www.bbc.co.uk/news/business-16868567 Fewer people were declared insolvent in 2011 in England and Wales than during the previous year, but the number of companies going bust increased. There were 119,850 people declared insolvent over the year, the Insolvency Service said, which was down 11.3% on the record high of 2010. In the final three months of the year, there was a 5.6% fall compared with the same period a year earlier. The number of firms going bust in 2011 increased by 1.3% compared with 2010. Debt choices Personal insolvencies are still running at significantly higher levels than before the credit crunch. One in 366 people became insolvent in 2011, compared with a 25-year average of one in every 1,600. Yet, the figures show a clear shift in the way people chose to deal with their financial troubles over the year. There was a 29% fall in the number of people who were declared bankrupt, considered to be the most traditional form of insolvency, but one that puts assets such as a home at risk. The total number of bankruptcies stood at 41,845 in 2011. This sharp drop meant the annual total was overtaken for the first time by Individual Voluntary Arrangements (IVAs). Under this arrangement, an official deal is done between the individual and creditors on how to pay back debts. There were 49,056 IVAs in 2011, a fall of 3.2% on the previous year. There was also a notable rise of 15% in Debt Relief Orders (DROs) in 2011 compared with 2010. There were 28,949 DROs - a relatively new style of insolvency for lower levels of debt. However, Nick O'Reilly, an insolvency practitioner at chartered accountants HW Fisher, warned that these people could still face escalating problems. "To qualify for a DRO, a person must have relatively small debts of less than £15,000. But there is every chance that those struggling with DROs now could slip into insolvency proper," he said.
  7. But other than that, he's a good guy right ?
  8. My mistake was that I was honest. I told them of my circumstances, once they knew that, they then wouldn't listen to talk of a mortgage.
  9. http://www.bbc.co.uk/news/business-16873788 The US economy created 243,000 jobs in December, the highest total for nine months, official figures show. The rise was much more than expected. Analysts had forecast an increase of about 150,000 jobs. The unemployment rate dropped to 8.3%, which was the lowest rate in nearly three years, and down from a revised rate of 8.5% in December. Job growth was widespread, with large gains in business services, leisure and hospitality, and manufacturing. Leisure and hospitality, which includes restaurants and hotels, added 44,000 jobs. Retailers added nearly 11,000 jobs, and professional and business services, which includes higher paying jobs in accounting, architecture and engineering, gained 70,000, the most in 10 months. Upbeat data Lindsey Piegza, economist at FTN Financial, said: "It was a better-than-expected report, the strongest report that we've seen in quite some time. "The big question is whether the reason we're seeing the unemployment rate drop is because more and more people are dropping out of the labour force. "I know the market wants to rally on this number but remember we need a minimum of 250,000 just to cover demographic change." The figures add to a range of data pointing to a gradual US economic recovery. Last week, it was announced that the US economy expanded at a 2.8% annual pace in the October-December quarter, a full percentage point higher than in the previous quarter. Earlier this week, a survey from the Institute for Supply Management (ISM) indicated that the US manufacturing sector expanded at its fastest pace in seven months in January.
  10. http://www.bbc.co.uk/news/business-16869870 The UK's dominant service sector grew at its fastest rate since March 2011 in January, according to a key survey. The Markit/CIPS services purchasing managers' index (PMI) rose from 54 to 56. Any figure above 50 indicates growth. Markit also reported the biggest monthly rise in business optimism since the survey started 15 years ago. The data will reduce fears of a new recession, following a contraction in the economy at the end of last year. An increase in new business also drove employment in the sector to rise at its fastest pace since March 2008, the survey found. The service sector accounts for more than 70% of the UK's economic output. Recession 'unlikely' "All [this] points to a resounding revival of UK economic growth in January," said Chris Williamson, chief economist at Markit. "A slide back into recession is now looking increasingly unlikely. The economy could well expand at close to trend rate - around 2-2.5% per annum - in the first quarter if business conditions hold up in the next two months," he added. The data follows a similar survey showing the UK's manufacturing sector returned to growth in January, with overall activity at its highest level for eight months. The results will be closely analysed by the Bank of England when it meets next week. Risks The Bank had been expected to expand its quantitative easing programme to provide extra credit to the economy. "The recent upturn in some of the key indicators should make for an interesting policy debate at next week's Bank of England meeting," said Philip Shaw from Investec. "Our feeling is that there are still big downside risks out there. And the BoE's own inflation forecast is so low in the medium term, it would take a big shift to the upside to remove the case for more easing," he said. However, the data contradicts the latest forecast from the National Institute of Economic and Social Research (NIESR).
  11. What adjustment are you making for the land, and good schools ? These have significant impact.
  12. I needed a bridging loan recently, I had 15% of the value of the house we bought tied up in bonds which don't mature for 6-12 months, the rest we had in cash. I applied to my bank for a bridging loan and got a big fat NO, even though the LTV was a measly 15%. If I'd have wanted a 20yr mortgage, they were more interested, but a briding loan. No. In the end we just borrowed the money from family.
  13. I'd wager rents have risen more than £100 per month in 10yrs. Also any "profit" in the intervening years can be used for capital repayments, reducing the interest and increasing the return on investment further.
  14. Indeed, if you simply must have a 4-bed detached and that's all you could afford, then fair enough, but otherwise that is one ugly mofo house.
  15. Banks are bad.. they lent recklessly to businesses. Banks are bad, they've stopped lending recklessly to businesses.
  16. Dunno about "big time" but I sold my house in 2008 to Archer Maclean.
  17. Except you can't download blades for free if you know where to look.
  18. Well, we completed on Thursday.. not without a small bit of stress. The vendors solicitors required all the funds by 3:30pm on Thursday, our removal van had been booked for the following day, yet by 2:30pm we still hadn't all the money in place (I'd been let down by a few people who had promised me earnestly that they'd pay me some money owed).. Thankfully my partner's Dad helped out in the final hour (literally), and within 30 minutes the money had hopped from his account to mine, from mine to my solicitors and my solicitors to theirs.. Phew! It was a shame the vendor didn't tell me the automated gates were broken, they had always been open when we viewed.. of course Caveat Emptor, but there are only so many things you can check when making sure everything works. Next stressful thing was to fight the boiler system.. simple it ain't. And for some reason it was just running at full blast and I couldn't get it to adjust to a preferred temperature.. it was only off or thermonuclear.. and two nights in a row I had to get up at 3am to turn it off as it was 23degC inside; made worse by the fact the boiler house is outside. Only last night did I get the better of it and have it programmed properly (pics below) So we're happy to be settled now, mortgage free, in the centre of a village yet with a few acres of mature, landscaped gardens for our son to run around in. I'm not stupid enough to turn bullish, so for the next few years I'm going to turn off the radio/TV/internet whenever I hear articles about house prices nose diving.. which they will, but as mentioned before, life is too short to play the waiting game forever, and we gave it 4yrs. In terms of HPC, we didn't get a huge discount, 8% off the current asking and 27% off the peak asking price. Time to start living, not waiting.
  19. Having annoyingly long queues can be a symptom of a successful busy shop, or a badly run, understaffed shop.
  20. http://www.bbc.co.uk/news/business-16715077 I know they've got a monopoly in the airports/train stations, but their high street stuff.. well, selling CDs + Books in a store isn't exactly the industry to be in right now.
  21. Ah that'll be because we have such a strong pound making our exports so expensive.. er, no wait..
  22. Can we print more money now please ? Lots of Love, Merv
  23. Does seem a bit perverse, people are piling their money into NS&I as a safe haven for their cash, after all 1.75% was never amazing was it ? So the government lowers it's rate even further to stop people putting their money in a safe place.
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