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House Price Crash Forum

Dart6911

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About Dart6911

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  1. Lets try some Objectivity Its disappointing the graph was only updated last in january 2010. I have questioned this on a number of occasions. If you have a look at the table of monthly and annual moves you will notice House Prices are still on an upward path. HM
  2. No empire. Not a reserve currency. No underlying value to our debt as long as we remain a net consuming nation. Fooked. The difference between the uk and the EU currencies is that we do not a a one interest rate and fx rate to try to fit many differeing countries into. IE sterling can float and find a level, The cheaper GBP is incomparison to USD and EUR the more investment is likely to come into the country. This happened in the early nineties when we 'fell out ' of the exchange rate mechanism, Black monday is was called. A misnomer if ever there was one, it opened up a sustained period of growth. You may be Fooked GBP is not. HM
  3. Greek debt versus Uk Debt Our situation is different from greece in that GBP is a currency that can float and is not locked in a fixed rate with other economies.(part of the EUR) Back in the early nineties GBP fell out of the Exchange rate mechanism, a situation where we were fixing our rates to an EUR basket if currencies, decried by the press as Black Monday! History has shown that GBP found its own level and our economy began to motor. Unfortunately greece is unable to do this as it is fixed in the EUR experiment. Greee and Germany have different natures regarding debt and unless they sacrifice these for the greater good of the EUR then this experiment may fail. HM
  4. The banking mantra is to lend on the lower of Valuation or Purchase price. Buy to letters often secure a property below market Value, BMV, then apply for a remortgage at the 160value buying with a bridging loan at 140 and refinancing with the remortgage on a sameday transaction. I have also never heard of the valuer putting in a value over purchase price!
  5. Perhaps should talk to a decent mortgage broker and look again at other lenders? Credit isn't something we are entitled to just because we have good incomes, Interesting how banks are often framed as the villains either lending too much too people who can't afford it (re crock), shock horror sometimes sensible people need 100% mortgages or just plain evil for not lending enough. Could you as a parent not borrow 20k cheaper and lend it too them until they can take over the loan?
  6. So why has the graph on the front page not been updated? HPC need to get with the times Nationwide tell us were nearly back double digit house inflation and the Nationwide graph on the HPC front page is 6 mths behind. Disappointed HM
  7. It depends on you timescale. I live in Leyton on the other side of the Olympic site. The area does need more accommodation, There is a lot of rental property in the area reflecting a huge demand to Live in London close to transport to take you into central London, I for example use the Central Line to the City. Very convenient , we also have the Jubilee line and cross rail on the way. I suspect we will see the 'shape of london' shift further east as straford, and other areas of east london, are the few places where you can still build blocks of appartments, thats the nature of property there are not making any more land and people are still moving to London from around the world. Also the planners are making some unhelpful decisions for example a no. of the new blocks of flats on stratford high street don't have parking and insist on owner occupation. This will massively increase the values of flats that you can rent out with parking. Your friend will need the patience to wait for a revival in values but the cycle will repeat itself over the next 15years, I suspect in less than 10 years the daily mail will be saying things like, homeowners don't need to work anymore as values are rising so fast the gains outstrip salaries of the owners. I understand from Fred Harrisons research these cycles have been on going for about 200 years. Your friend will win out in the end and you will regret not having bought! HM
  8. How do you come to the conclusion having a bath neither practical nor economical? If he ever buys his own property he will have to learn to take responsibility for this sort of thing himself, Perhaps the Landord is doing him a favour, a bit of education. Unfortunately as a Landlord and Agent it is difficult to manage a working shower as the the tenants demands are not in line with the plumber/agent and Landlord. I would suggest the Landlord takes it out. Unfortunately this is an area where many tenants have ridden roughshod over Landlords in the past so requests like this may be treated rather cynically, especially when it is claimed having a bath is neither practical or economical and that the tenant would not have 'touched it with a bargepole' if he new it wasn't working . When I mean ridden roughshod i mean they suddenly become plumbing experts and make claims about water pressure and plumbing systems when maybe it just needs some more careful operation. I think it is a pity the residential (AST) leases are not like commerical lets, ie the tenat is reponsible for full repair and insure (FRI) of the building. HM
  9. Tired of waiting, thankyou for posting this. However I checked the 'house price facts' website and this graph was last updated August 09, Pity I would like to see it up to date. All the graphs appear to be lagging. Do you know if it is possible to get up to date data direct from Nationwide? Is this the same data HPC have in their table? Regards HM
  10. Please will someone update the Nationwide graph on the front of the website, it seems to be stuck on Q2 2009, On the 'graphs' link it says it is only updated every Quarter. Why not bring it uptodate and then update it on a monthly basis? I wonder if it hasn't been updated because the line is going up now, Hiding the facts weakens the strength of arguement, Or so it seems when 'global warming ' campaigners fiddle the data. Disappointed HM
  11. Does anyone know why HPC don't update the 'real hous price ' graph from the nationwide? A lot has happened in the last few months. Also can anyone help me find graphs to show current and past sales volumes and mortgages lent? Please find attached news on Land Values http://www.savills.co.uk/campaign/research/MarketinMinutesNov09.pdf Thanks HM
  12. A useful guide to values is the difference between cost of Renting and Buying, if it is cheaper to rent then this may support rental values.
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