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House Price Crash Forum


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About ajh

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  1. Probably not, actually. They may not accept scientific evolution, but they've had no problems evolving Christianity itself past that "Old-fashioned" stricture from Matthew. Christianity for the Rich
  2. Obviously the ONS doesn't consider Russia and China to be rivals. Yet.
  3. Maybe they also see the writing on the wall about zoning rules, and are buying in the expectation that sooner or later they're going to be able to develop...
  4. It took me a long time to understand why my UK-based aunt kept using that phrase over and over again when she looked through the low-end (for my location) house I was selling about 15 years ago. (In imperial measurements, B1 was 12' x 12', B2 12' x 9' and B3 10' x 10' with 3' x 3' missing at one corner.)
  5. In 2001 you could have bought the Bettyhill Hotel for 125K. My mother and I stayed there one night on holiday. About 15 bedrooms detached with off-street parking for 30-40 cars.
  6. And now for summat a bit different for your dough. $A295K is a touch under GBP125K http://allhomes.com.au/c/ah?a=sp&p=262378
  7. Equally true story: When I was at school we did alkane cracking as a practical. One of the guys in my group unilaterally decided the process wasn't going fast enough and added another bunsen flame to the flask containing the liquid being cracked. Out pops the bung at the top of the flask due to the sudden extra extra gas pressure, and the next thing you know there's a pillar of fire from the flask to the ceiling of the science room. 30 years on at a form reunion mention of the "Cracking of Alkanes Experiment" still got a huge laugh.
  8. Both HSBC and GMAC have recently declared big losses in their US operations. Maybe they've decided the same thing is going to happen in the UK, and are trying to cut back sooner rather than later to avoid getting stuck with loans made at the absolute peak.
  9. Well, tough. Divide those numbers by 2 to get GBP. How sympathetic do you feel towards someone who was able to roll all her loans into a monthly payment of 538 quid. Miss Busby should have been able to save a fair bit over the last 2 years, but I bet she hasn't a cent. I suppose the good news for her is that she has a 100% guaranteed 10.6% return for any scrimping and saving she does now. Just pay down mortgage principal.
  10. Mr Buffett included several caveats with that statement.
  11. What percentage of workers in the UK/US could handle a 20% pay cut?
  12. The Case-Shiller index is a 3-month rolling Year-on-Year comparison. The aim is to produce a true like-for-like comparison, and they go to a lot of effort to remove influences like outliers and changes to the sales mix. I believe the current number is Jan/Feb/Mar 2007 vs 2006, but it could still be Dec/Jan/Feb. The index takes time and effort to compile, it's a complex calculation based on sale prices for individual addresses. (S&P wanted it that way so it couldn't be gamed, since they trade future price contracts for each city based on this index.) Anyway, what is interesting to me is how quickly the index has deteriorated through adding a 'current-month' and removing a '3-months-back'. This just about guarantees we will see further deterioration, since the "old" comparison data being removed next time around will have a higher appreciation factor than the "new" data being added.
  13. Not true for Aus, I'm afraid. While there are problem areas in Sydney and Melbourne, it is impossible to deny that at the moment prices are rising again.
  14. Depends how far back in history you want to go. PG Wodehouse set some of the Bertie Wooster stories in New York (Bertie had fled there with Jeeves to escape the wrath of Aunt Agatha, because ... but I digress). In a couple of the stories he makes casual conversions of US to UK prices. FIVE dollars to the Pound. That was in the 1920's.
  15. Isn't the whole point of the thread that American Home/M & T are NOT Subprime lenders?
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