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House Price Crash Forum


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Posts posted by Montauk

  1. Condominiums in America are like flats in Britain - only usually much larger.

    The market had been rising since 2003 and speculators, tempted by glossy advertising, rushed to buy as prices soared 25 per cent a year.

    Florida property consultant Jack McCabe said: "Out of staters and foreigners, especially the British, flocked here and pushed the market to the point where about 70 per cent of all sales were to investors who never intended to live in what they were buying."

    The market reached its peak in late 2005 when some developers were forced to hold lotteries because they had so many buyers after the same properties.

    Now the bubble has burst, investors are being forced to dump them. Some bought five or six units, obtaining attractive mortgages with low interest starting rates for about two years.


    Thought I'd put this out there. (OUT it goes!) Disclaimer: For entertainment purposes only. Not intended as investment advice, racial attack or any other interpretation barring good INGSOC humor. Mileage may vary.

  2. It took me so long to reconcile what you were saying to to elucidate the fact that my sister is losing her job. It's going to India.

    I tried to tell her to sell her house last year to no avail. Good thing she'll never read this. Thanks for the space, guys. Good night and may God bless.

  3. If I were you, I'd seriously consider buying. Your children have suffered enough for now. Moving every year is hard on kids, as they never get to make permanent friends. However, if renting is more economically feasible, you'd be better off renting from a more stable landlord and/or price rent increases into your decision ahead of time, if you do decide to rent again.

    I can sympathize. I've been renting for 2 years from stable landlords and we expect to continue. But it's not something that the kids have to think about. At least I have my fingers crossed! :)

  4. Very good point there muttley. So if people get the impression the prices are falling, they will put in even lower offers and the sellers will cut theyre losses because their cacking themselves at the falling market.

    Interestingly... around here an interest only mortgage on a decent 3 bedroom house is around £300 a month, whereas to rent costs around £400. (I am in a South Wales Valley). Of course, in most other places it still makes sense to rent until the market is back to some kind of sanity!

    Well, interestingly enough, if rents are higher than mortgage payments, one is supposed to buy.

  5. I watched about 20 minutes of this video and then lost patience with their analysis. Perhaps there are conspiracy theories to be unearthed but these people were dressing up the facts to suit their theories.

    Steel frame buildings have an inherent vulnerability to fire. When steelwork gets hot it gets weaker and tends to bend through differential expansion. When steelwork with hundreds of tons sitting on top of it starts to weaken and bend, the results can be catastrophic. The steelwork does not even need to be red hot for weakening and distortion to take place. For this reason, most insurers of large chemical facilities these days usually insist that steelwork, where used, is encased in concrete. This delays the heat up of the steel for long enough to either stop the fire or let itself burn out.

    Much of the steelwork in the twin towers was encased in relatively soft insulating material. In a normal fire, this would have given good protection. With the impact of a jet however, it seems inevitable that some of this insulation would have been stripped away.

    It is also a falacy to assume that the temperature within the building was not hot just because smoke was seen. Big solvent fires generate intensly hot conditions and inevitably generate smoke. The mechanical damage caused by the jet impact and initial firball would have created good ventilation conditions for a very hot fire.


    Plus the fact that in the upper floors, the beams were coated with an inferior fire retatdant because the Environmental Protection Agency had out lawed the use of aspestos for such an application. Thusly, the beams of the upper floors were left somewhat unprotected to intense heat.

    I really don't want to watch yet another nutcase's video about the WTC' demise, but I will, anyway.

    By the way, has the government bombed your metro again lately? :)

    "Why does the whole floor have to give way at the same time. Progressive collapse does not have to start with a synchronised failure."

    It doesn't, which is why, if you watch the videos, you will see that one of the towers came down crookedly.

    I would suggest reading a physics textbook from beginning to end.

  6. I put an offer in on a house a long time ago, we both agreed a mid august completion, which at the time was perfectly practiacl. I sold my old house and moved out of it, I needed to get shot asap so that was my choice. I moved out on august 18th, the date we had previously agreed to work for as a completion date.

    I am currently living with my parents, all my stuff in their double garage and commuting 80 mile round trip to work a day. My choice I know, but my vendors kept promising 'next week' etc.... Anyway, long story short, transpires their sol only applied for enviro survey 10 days ago, so not going to complete until at earliest this friday (yeah, whatever I hear you cry) or more likely, next Friday. Thing is, I am so pissed off that they have let it drag on this long, they took my offer, said yes, agreed to all my terms and then as soon as I had spent some money on it (search fees, survey) decided to go at their own pace.

    I want to reduce the price cos I am so annoyed (male pride and all that) I have already said I am not going to pay my original offer and offered them £1500 under what that was, they said they cannot afford to sell at that. I don't want to loose the house but feel totally trampled on by them. What can I do to reclaim some pride and some cash ?

    Thanks guys

    How much would it cost you to walk away from the deal? How much would it cost to walk away from the deal if house prices went down even just 10 percent?

    It sounds as if the seller knows that you are a polit upright person and they are taking advantage of you. All the professionals are eyeing the US market slump with very nervous eyes.

    Give us a figure to work with. About how many pounds would you lose?

  7. Many on here would say prices have barely if at all moved in there areas in the last year , infact i would go further to say that in that my area of N/W London prices are the same as they were in 2003 , i have kept many brochures from agents in my area of that year selling houses in roads where today you can find the same type of houses in them very same roads all within 5k of there 2003 prices , and there are many many comparables .

    For some reason I can't quite figure out, authentic information seems never to be readily available, despite the fact that there is the government run house price statistics available- I forget the name of it.

    Perhaps it's because people are so good at the language that anything can be purported, seemingly with validation, that the truth is impossible to discern. This is my best guess! :)

    Bla, bla, bla :)

  8. You are dismissing Hizbollah's positioning of their missiles as purely incidental in their proximity to civilians, it is anything but. Mobile missile launchers are positioned next to hospitals, U.N shelters and the like in the hope of causing civilian casualties, their distribution is no more random than beggars round an ATM machine. The BBC mentions the majority of Lebanese casualties are civilian, whereas the majority of Israeli casualties are military - but do not explain this is because Hizbollah want Lebanese civilian casualties, whereas the Israeli's provide bomb shelters for thier own civilians to to shelter in.

    In my oppinion the BBC have been acting as a fifth column here and are failing to mention that Islamic extremism is a worldwide problem and you could hold a poll of muslims in any Country where they form a majority and the same angry militancy would be seen. So there is a security alert at British airports, some British Muslims are arrested, yet we end up discussing Israel as if the root problem is there ffs. We are fighting in Afghanistan and Iraq, Arab militias are carrying out genocide in the Sudan, Militants are blowing up trains in India, Spain and the UK, Murdering monks and teachers in Thailand, shooting churchgoers in Pakistan, blowing up disco's in Bali and various 'targets' from Argentina to Turkey to Egypt.

    The list is endless, when will the world wake up and realise a nihilistic death cult has taken root within Islam. It feeds on the envy and inadequacy of marginalised sociopaths and channels it to eat away at the core of every nation in the misguided hope that Islam will take root throughout the world. Of course these form a small minority of the Muslim population, but if Muslim M.P's and political figures want to make a speech they should condemn kidnapping, murder and condemn those plotting against their host Country before any act is committed rather than providing a cryptic justification for those inclined to take it as so.

    Spot on, except they form a large minority, I fear. not a small one. And then, I think it's important to consider the fact that if the non-terrorist-supporting population of Muslims really didn't approve of their facist/killer cousins, there would be a stop put to this nonsense, wouldn't there?

  9. I want to make a very much more substantial point too.

    In all the thirty years of fighting the IRA, it apparently never crossed anyone's mind to take out the country from which the IRA emerged. I am obviously talking about the Irish Republic. Of course not, it just didn't make sense to attack a nation because of an antisocial fringe outside the control of the state.

    I know that's putting it too midly but it is not innacurate in my opinion. So, why apply different policies in our new wars against a different antisocial fringe?

    So what are you going to do? Attack yourselves? Today's terrorrists in question are British subjects. :)

  10. He didn't say 'people' have missed out, he said perma-bears. Implying people who spend their whole life thinking prices are too high and are bound to crash. If they don't crash then, yes, these people will have 'missed out'. I'm not saying I agree, just trying to be accurate... :)

    It's a cycle. Buy Low Sell High. :)

  11. You see , everyone's posting on here about how stupid "sheeple" are - but actually most of the post from "members of the public" are HPC members spamming the BBC boards with phoney comments pretending to be ignorant, clueless or greedy people and winding others up.

    I know this is done on other websites in a kind of mass spamming effort. Yawn. It won't cause a crash.

    ...which is why this site would be moderated if it were a seroius one.

  12. Still, if anyone thought that a 0.25% raise in rates wouldn't affect the housing market, they only need to read the number of people there whining about how they can't afford the increase in interest payments on their debts.

    People have borrowed up to their absolute limit at incredibly low rates: now they can't even afford to cover a 0.25% rise. It's insane.


    Truer words were never spoken! Please pass the popcorn and do let's enjoy the show!

  13. I "woke up" a couple of weeks ago and joined the organisation Liberty who appear switched on to the increasingly "big government" we have in Britain.

    I fear, that given the depressing examples of servile, lickspittle, informers of the future posting on here, that fighting the ID card and winning back already lost freedoms will not be easy.

    It won't be easy, but we must not give up hope. Righteousness will prevail eventually.

  14. "Promptly inform the police if you lose your card or it becomes defective, or you will have committed a criminal offence and face a fine and/or up to 51 weeks imprisonment."

    Read 1984 by George Orwell. He was so right. but 50 years premature. This is all Newspeak garbage. Wake up England! Damnit!

    No means of self defense, no right to speak out, no right to address grievances against the government.... how much can you take?

    "Don't get me wrong I am a fighter (quite literally sometimes wink.gif ), but the average man walking down the road will no longer challenge a situation because he knows that he will be on his own. Intelligence & a few stern words will not stop a mob of 15 teenagers attacking someone."

    You all should have thought of that before you let the facists (Liberals/Democrats in the US) take your rights to keep guns away. Now it's too late. Enjoy your helplessness. :)

    Of course the chavs are going to rob and kill you. Duh! What did you think would happen? What were you thinking?

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