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House Price Crash Forum

plummet expert

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Everything posted by plummet expert

  1. I would agree that doing some of yur own pension is a good thing - the tax break is overated and you can often do better than pay vast charges in some scheme to get tax relief - you don't have to buy an annuity. Before you go BTL - just think about the bond market - it;'s oveheating and that will leas to one thing - musch higher rates within 2-3 yrs. More troubel for govt and all of us. http://tomwinnifrith.com/articles/2987/why-uk-house-prices-must-crash READ IT
  2. It is the Govts greatest mistake. It is 'so not Conservative.Com'. It has alienated many already. the end of the piece is telling: 'All borrowers in the scheme will need to have at least a 5% deposit and pass eligibility tests to ensure they can afford the mortgage, including in a situation where interest rates rise. If this is actually true then none of these mortgages should be granted - no one CAN afford 4 x their income at noral interest rates!!! , with a 20% extra loan hiding away, but ready to cost you more in 5 yrs time. It will keep silly prices higher than they should be and prevent the market making homes affordable. How on earth does that help?
  3. Multi-Generational Mortgages!! This man is a loon! He cannot seriously advocate something so stupid. The only possible effect would be to gradually push up prices again until the buffer is reached. We need to control prices by using lending policy, building policy and even rental policy to promote sustainable price structures. Germany have managed it. Why can't we?
  4. It is incredible! Now we find 120% mortgages offered by Lloyds, Halifax and C & G. Has no one in govt learnt anything?! I suggest all write to your MP's at once. These mortgages are only available to current customers which means they will help the mortgaged up middle to move even higher and at the risk of the taxpayer. They should be outlawed and I thought such things were being stopped. NUTS, NUTS NUTS.
  5. Take a look. http://www.bbc.co.uk/news/business-22219382 It's no surprise that we are downgraded again. In theory it means UK Plc is a greater risk for borrowing and should be charged a higher rate. It hasn't yet filtered through, but the law of gravity means that despite all QE and other efforts to avoid a fall, it is on the way. The bond market is becoming very stressed. Many funds have already dumped bonds and others are quietly trying to do so. What doea that tell you?
  6. It will soon flounder. Its phoney money chasing phoney prices. The govt is sustaining house prices and it is barely working even with historic low rates. The bond market is tightening and will burst within 12 months. The Eurozone continues to be in crisis and the govts are in denial most of the time. Ireland is in deep s***, which people seem to have discounted but its rearing its ugly head. The PIIGs are all in it and pulling down the French, the Benelux countries which are all going into reverse and shoWing house price falls. We are next but the most stubborn, with an idiot for a Chancellor. What other country tries to pump up PROPERTY from a start point of a clearly overpriced house market? The south is a continuing bubble and London is to be renamed Barking-on-Thames.
  7. Not noticed anything like that near me. We will have to wait and see number of mortgage approvals actually rising before this or other anecdotes means a thing. Last figures showed a small drop in approvals. Spring bounce is subdued in my view, although a great deal of effort is going into suggesting the property market 'is on the move' by vested interests. The truth is that prices can only reflect ability to borrow and confidence. If the government allows people to borrow 4 and 5 times their salary then they will borrow that amount - especially at artificially low rates. How that party will end is obvious - in tears. It will be borrowing against all advice from anyone with any knowledge of the effect, the FSA, many economists - notice how quiet they are about the new FFL scheme and the Gov throwing money at the house market. They should be getting our manufacturing base back, not creating a minI boom for pre-election. The only consequence is that when the wind changes, it will be much colder. IDIOTS
  8. A big manipulation downwards is now in progress. Those evil banks are at it and they will KNOW just when to say BUY to their zillionaire investors , who in turn will pay vast feees and profits to them, as the banks piggy away themselves on the same disgusting dish at everyone elses expense. ....LOL
  9. They are all dangerous, cannot know their economic history and will...in fact already are, causing serious distortions in the economy. I have pointed it out many times on here. Osborne & Carney will not escape the truth about monetary inflation and low rates. History will Judge them very badly for this. Mark my words. The implosion of the bond market in western economies is on the way. The signs are now in place.
  10. Funny that! If you earn 50K or more you are, according to HMRC, in the top 10% of earners in the uk. £100k pa in the 'sticks' is a fine income. The only fly in the ointment is the price of houses.
  11. I have it on good authority that there is a very good chance that the bond market will implode in the next 6 months or so. It will end with much higher rates for sovereign debt. There are some major funds that have already sold not 10% not 50% not 70% but actually 100% of their bond holdings. Some serious investors think the 30 yr cycle of bonds on the up is OVER. The effect may not hit stocks too hard, but some correction is due. Gold is tanking currently, but it may see a turnround soon.
  12. I expect the 'jobs' pay £52 a week after deducting acomodation costs.....£1 pw less than JSA after housing benefit paid!
  13. Osborne the buble popper. It will go bang! Southern Euro crisis is steadily becoming the mid Euro crisis......
  14. It all begs the question as to why so manay western govts have fallen into this same trap - failure to control bank lending, almost during the same 20 yr period?! It must be unprecedented that so many fools ruled so many for so long, leading to such a mega lending spree of such idiocy, when it was so unnecessary and has led to so many economic problems which were so foreseeable!!!!!!!!!!!!!!!!!!! I frankly do not understand why no one seemed to have any forethought about the end consequences. People will borrow whatever they are allowed to, whether that is stupid or not. So GOVT SHOULD CONTROL IT VERY TIGHTLY for the benefit of all and the long term health of the economy. Karen Brady for PM. Me for chancellor. (see her on Piers Morgan chat show)
  15. Yes - the figures reflect a very skewed view of this. Certainly in the South an average house is around £230k, but up North anything from £40-120k will buy same thing. Averages are never a great guide for a whole country. Its about 8-10x av wage in Sussex to buy a 3 bed semi.
  16. Isn't it amazing that years into this financial crisis we are suddenly finding articles appearing suggesting house prices are too high! Look at this http://www.telegraph.co.uk/finance/personalfinance/comment/9974836/A-house-price-warning-for-first-time-buyers.html The article shows an average income to house price ratio of 4.51 at present. It does not mention that the ratio is much higher in the South and lower in the North, but otherwise spot on. We have a lunatic Chancellor who wants to encourage people to borrow massive multiples of income at stupidly low rates and expect it all to turn out well when the govt is busy subsidising it all! I can't believe a Tory is even interested in this market manipulation. It is causing even more mal-investment and taking legitimate investment away from productive wealth creating industry. If he thinks pumping up a housing bubble will help UK plc then he is more misguided than I ever thought possible.
  18. I have the blue print for ending EA's in an online format. I just need investors to start it - it would be millions needed. The only reason it has not been done is the large cost of getting it going. If u look around the world, is there anywhere it has happened? It requires some thought because humans will need to be involved - a pure online vehicle would not work. Any offers?
  19. If they want to tax parking beyond economic sense they will fail. In Brighton the on road charges have been slashed because we all stayed away. It had been put up to £4 for 2 hours etc and it was not feasible. Now it's back down to £2 for 4 hours. Spoons? now you're talking - they could add a charge per spoon per household per year with a spoon value tax. Best to tax shopping bags aswell - £5 for a plastic one and £4 for paper. They could have carbon footprint measuring stalls put up and we could have our shoes cleaned at the same time.
  20. I like to give to the food bank in sussex. They are quite picky who they help! Still, we are nowhere near the USA problem where 1 in 4 kids and 1 in 8 adults have to use food stamps.
  21. Too true. I expect heavy British speculation based on an article like that. Off u BTL'ers go.....Berlin
  22. It's speculation as usual. Money trying to find a home where it thinks a profit is to be had. The property sector and construction have in most places had a hard time. Gold has perked up and because of the high risk of inflation from world QE there is some semse in equities at present. I agree it does not reflect world depression, but it reflects flight of capital very much.
  23. I am not so sure the article simply means 'printy'. However, it highlights that the borowing that is continuing is having little effect and cautions against a return to Labour's failed policies. So, he belideves in other stimuli without spelling them out very effectively. Meantime: UK suffers fresh rating downgrade March 28, 2013, 3:33am THE UK’s still-soaring debt-to-GDP ratio convinced independent ratings agency Egan-Jones to yesterday cut the country’s sovereign debt rating from AA- to A+, in a fresh blow to chancellor George Osborne. “The over-riding concern is whether the country will be able to cut its deficit in the face of weaker economic conditions,” Egan-Jones said. The only thing that will sort this matter out is strong leadership and vision. There is none around that I can see. The housing market will not rescue UK PLC and cannot since we simply do not manufacture enough goods ourselves - any upsurge in demand will soon lead to greater imports, balance of trade problems...blah blah... People simply do not earn enough to buy houses in the uk easily. They are TOO MUCH and need to deflate. Handing people easy cash they could not otherwise borrow in anormal market is a new kind of subprime. You would have thought they may have learnt by now, but no; Osborne has shown himself to be clueless - Even Grant Schapps admitted house prices were too high.
  24. Yes, this hs had thr effect of slowing thend ofthe cycle and in fact delaying the pain, which will in tun make it worse. This Govt is GUILTY of making it worse. It is Labour in drag.
  25. If you exclude London, that is absolute rubbish.
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