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House Price Crash Forum

CrashedOutAndBurned

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Everything posted by CrashedOutAndBurned

  1. May i suggest that the webmaster closes the old forum and standardises on this one. So far, the new version seems to only attract the real posters.
  2. Surveyor's right. There's a lot of talk about how the house price situation has helped fuel the consumer spending boom - MEW, people just feeling wealthy because their grubby 70s semi's worth 250k, and so on. To the twenty-somethings struggling with high rents and high house prices there isn't a consumer boom. It's struggling to pay down debts, scrimping and saving all the way. if rents and mortgages weren't so sky high, we could be spending our money elsewhere, stimulating other areas of the economy beyond some BTLer's Porshe kitty. We have a small part-time business we could take much further if it wasn't for the cost of living that keeps us both in full-time daily grind employment. If we weren't pouring so much dosh into rent and saving to shadow that inflated housing market, we'd be investing in a useful business - buyng more equipment, spending on printing and publicity, leaving full-time employment and creating vacancies.
  3. BP's post echoes my own thoughts. Of course recent data still shows rises. The stagnation suddenly took hold in June and July here in Watford after a lively May and a rampant April. June/July 2004 could be remembered as the beginning of the end of the current housing bubble.
  4. I'll call Watford london, as it practically is these days, rather than 'South East'. After a rampant April and lively may, rises tailed off in June, July and August. There have also been obvious falls. Prices cuts from say 175-169, 164-152, 174-169, 174-169 are pretty typical at the moment. Pricing is also inconsistent - two bed flat 165, almost the same spec two bed flat 154, etc. Oh and virtually NOTHING has sold in two months, apart from some cut-priced houses (although these are likely to fall through, like so much has recently).
  5. Should the young, the poor, the average have to suffer high rents and high house prices? Rampant house price inflation has meant thousands of people effectively no longer earn a living wage. In Spain, there is an increasingly vocal 'ant-Speculation' movement, which has mobilised thousands onto the streets, demanding the Government take action. The British, meanwhile, sit back and take it all with a shrug of the shoulders. Abundant cheap housing means a high quality of life for all. House price hyperinflation is a wholesale transfer of wealth to speculators and the propertied.
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