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House Price Crash Forum


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About siskin

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  1. Totally agree. Once people understand this simple equation its game over for the ponzi pyramid. My frustration is that I massively underestimated how far the state would go in trying to shore up the bubble and what a grip the banks had over the UK. Democracy is in name only. I also hadn't anticipated the length of time they could be successful at kicking the can down the road. To me the last 2 years in particular have felt like like an eternity. I guess that when the history of the UK housing bubble gets written up in the future the 7-10 years (starting in 2005) they managed to keep the bubble inflated won't seem long. But, living through it, getting older and poorer with no affordable houses in sight is tough.
  2. +1 Tried to post a thread on the main forum about this same topic but can't see it yet. This is new front in the fight to keep the bubble going. Lloyds and the councils, some similar scheme called First Foot promised by Labour if they win in Scotland in May and some stories planted by housebuilders asking for mortgage inndemnity guarantees in the media today. Basically it's all more moral hazard they take the profits and we pay when it goes wrong.We are fecked. Every political party has sold its soul to the bankers on the altar of endlessly rising house prices. Seriously thinking I should be looking into leaving the UK for good. Just need to convince TOH.
  3. Mortgage indemnity guarantees look to be the new front the VIs have opened up in the battle to keep house prices up and make sure the taxpayer takes the risks. A Scottish housebuilding firm Stewart Milne have been ramping this idea in two Scottish broadsheets the Herald and the Scotsman. today They've clearly got Scottish Labour onside already with their First Foot scheme. And, this just after we've had Lloyds and various councils getting into bed with council taxpayers money last week. No longer able to rely on luring FTBs into debt at the risk courtesy of the Bank of mum and dad the VIs are after more of our money to keep their bubble inflated. :angry: This from mortgage strategy 'brings the great and good of the industry together' to discuss financing for their ponzi scheme. There are some choice snippets subprime wasn't all bad etc. Here they are on MIG. They say themselves it's risky as hell so lets pass that risk on the buyer their parents or better yet the governemnt that means us of course not Osborne, Dave and Grant. Is it time to start visiting and writing to our MPs and councillors to tell them do this and you lose my vote? or should we just get our passports out the drawer and go?
  4. Story in Herald about housebuilder Stewart Milne. They estimate up to 20% of their agreed sales fall through due to lack of mortgage availability. Or, maybe people are starting to realise house prices are falling?
  5. We need a Harry Hill style fight which is better twigs or pyjamas?
  6. Read this letter in the local rag and had to share it. The question is will putting twigs in a vase have the power to cancel out the effect of pyjama blight in our once proud suburbs? Seriously though, it has got me wondering whether all this house price crash waiting is really worth it just to end up living next door to someone like this Hyacinth Bouquet numbskull.
  7. Sorry but the rest of the article in the Sunday Herald is behind a paywall. I read it in full in the paper version today. A full page that covers all the HPC arguments, for why house prices need to be allowed to fall. IW also blames the influence of VIs in the media for house price rises always being reported positively. love this guy.
  8. +1 I check their website from time to time but only seen one protest in Glasgow so far. Hope to be there for the next one.
  9. I know I've posted this in another thread a while ago but I think that some of the cosy deals that go on between RICS home valuers and some big EAs aren't helping manage sellers expectations on prices either. I've noticed that more realistic prices and valuations tend to turn up on houses marketed by small local solicitors on GSPC. For example a few bungalows in Bearsden have come on with small local firms at much more sensible prices. However as noone else is asking reasonable prices competition for these properties is fierce and they almost always sell in days. Presumably the surveyors who are asked to do home valuations for small independents are also more independent and less tied into the whole 'lets keep prices at 2007 levels' mentality of the big agencies like Countrywide (who are often owned by the banks). So yes I am really cynical. Seeing the events of 2008 onwards has made me that way.
  10. Just had a look at your link, Balfour Hall Q17 - Apartment 249 Love the aspirational names developers give to their projects. Shouldn't that be Balfour Hall servants quarters?
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