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House Price Crash Forum


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Posts posted by Dicky

  1. I really wouldnt get too excited about this or any other 'new products'. I believe some lenders have been  lending upto 9 x income, where parents secure the loan against their homes. In any case 'self-cert' mortgages have been available for ages and they basically meant that you could borrow whatever you fancied regardless of your income, the onus was on you to ensure that you could pay it back. Whatever they try now, they can't actually make the lending criteria any looser than they have been for many years. Infact the likelihood is that lending criteria will be tightened in coming years.

    Selfcerts came into the public domain when a BBC reported uncovered the corrupt business in late 2003, the intent of the program was to highlight the shady business of EA's their mortgage advisers and lenders, instead it encournaged more and more to take out such loans as a quick way onto the houseing ladder, this explains the 20% rise between 2003 and mid 2004, unfortuntely the BOE had other ideas when they found out about such practices by raising IR, who wouldn't have thought the rise in IR from 3.5% to 4.75% would have killed this robust economy Gordon kept harping on about, Self certs and IO loans are more common place than first thought, it now counts for 50% of all mortgages. As much as I'd hate to say it, if IR don't fall soon we're going to have the mother of all recessions, just look at the u-turn on council tax reform, the rebanding of houses in the South East would have meant the average household forking out about £240 extra a year, that would normally be considered chump change but so volitile now is the economy even £20 a month extra is considered risky.

    The party is well and truely over we can now longer borrow our way out of recession... expect more and more hor$e sh1t articles like these, it usually marks the beginiing of the end.

  2. Happened to catch 5 mins while channel hopping & that tanned wrinkly bloke who looks a bit loaded is saying "and I've put the house on the market, but don't worry, I've taken out a bridging loan in case it doesn't sell" keep 'em coming Emmerdale.. ;)

    If it doesn't sell you simply sit in it and keep paying the mortgage why does one need a bridging loan. Are they suggesting they can't afford the current mortgage and so need an loan to pick up the short fall until it sells, wouldn'd it be wiser to lower the price to get a quick sale before it falls further and they need an even bigger bridging loan.

  3. What the heck?

    "The ODPM says because of changes such as an increase in average housing density, it can now build 1.1m homes on less land than the previous government set out for 900,000 homes."

    Jeez, it must be Super-Labour to the rescue! How exactly will they do this? Thinner walls, floating houses, just build housing for people under 5ft tall thereby building 3 storeys in place of two? What are they talking about?

    :blink:  :blink:  :blink:

    If we genetic engineer humans to be square, we can also package them into smaller spaces.


  4. yes, and it is all down to the BAGHDAD BOUNCE.

    Let Dr Bubb or any other war apologists deny that the war was a massive boost to the DJ and the FTSE and to the US and UK economys in general.


    The massive fall in the FTSE in March 2003 to 3200 was due to begining of the war, what we're now seeing is just the recovery back to 7000 where it was in 1999.

    You really are a silly boy.

  5. <_<

    I mean't to post this earlier in the week, but did not get round to it.

    Did you notice on the show where our intrepid duo went back to visit that poor Indian girl they had duped into buying a property that something did not follow the normal format of the show.

    The girl did not buy one of the properties they found but 'sourced' her own (and by the way what a god-awful place it was!!!).  But usually when they go back & visit they always say how much their 'client' payed for it and then (usually a year later) they give them a new valuation and of course the price has always increased by thousands !!

    However, this time there was no valuation given, I wonder why.

    Can anyone guess?  MMMMMMmmmm let me think, house dropped in value by

    several thusand perhaps ! B)  :o  <_<

    Maybe it had risen by 50% and they didn't want to be accused of ramping property prices, are all piggys watered and ready to fly.

  6. Mr Murphy is criticised for not being a retailer (his previous jobs include Carlton TV and logistics giant Exel) but what got him into trouble was his bold assurance a year ago that B&Q wouldn't be hit by a housing downturn, saying consumers would choose to "improve, if they do not move".

    You couldn't really make this stuff up, yep the top dog at B&Q did actually say this last year, he surely dose ney understand retail or the economy.

    Its a bit like saying a rise in unemployment is good for pubs because folks with have more drinking time.

  7. Sorry, but sounds exactly like the sort of thing you hear over at Channel 4. Unless the post clearly contained illegal material or hateful content it shouldn't have been removed. It doesn't do much for the credibility of the site, this isn't Soviet Russia, at least I didn't think it was.

    When you take OTT actions like that it makes it look like you're paranoid and trying to hide something, I wouldn't be suprised if people now question your motives.

    Its was an email declaring Webmaster was infact a lady boy who entertained tourists in Bankok with a certain ping pong ball show.

    Now wouldn't that upset you if it got out.

  8. I believe any sensible person would/should conclude that runaway population increase - whether due to immigrants or indiginous peoples - is a bad thing on this small overcrowded island. I believe that the increase of population (doubled in only my lifetime) is the greatest threat facing all humanity.

    Silly Silly boy, as more people populate the earth there becomes less and less food until the point of critical mass occurs, folks start starving and dying, the population falls and it all start again, its just a cycle within an enclosed system where two main components rely on each other.

  9. According to this link Americans drive twice as many miles each year as Europeans and a car is more essential in everyday life. So if twice as much fuel is bought at half our price then surely they don't spend any less than us on fuel.


    Good point, I drive 40 miles per day and I have to say if petrol was 1/2 as much I would drive via stansted just to take up the slack. Errr my head hurts.

  10. Well i dont think it will happen.We would all like things cheaper but it does not happen.If prices were to drop drastically which they wont then sellers would take their homes off the market it stands to sense really .Th eonly houses that would be for sale are those that had to be for whatever unseen reasons ( a death etc) so there would be less choice more buyers and hey presto the prices are back up, supply and demand!

    What happened in 91 to 96, did everyone suddenly have to move houses and so all had to sell at the same time.

  11. I use a secret crazy name on C4 (you can guess who I am from the subtle clues in this thread), I never had my creative hat on when I joined here so just used my real name...

    ..or did I?

    Maybe it stands for Judicial Accountability to Save Our Neighborhoods?

    Who knows..?

    I also tried that one, used the name NobbysW4ankshaft, they saw right threw it, thoses moderators are something else.

  12. It is the love of money that is the root of evil my friend.

    As for charity?  Well I do things for charity.

    Only last week a friend asked me if I wanted to run a marathon.  I was not sure about it as I had last ran a marathon about 4 years ago.  He said something that made my mind up.

    He said it was for disabled children.

    I thought.... "sh*t, I could win that!".

    Thats pretty evil, you take care when crossing the road next time.

  13. You meant to say Toss Pot, he works for the media, his friends are advertisers, banks etc etc, when they start lossing money, ie sales dry up the only way to start the machine again is media hype, wheel out the Gimp, autocue ready and go fire.


    great Trev, now read this.


    top stuff Trev, now try this one.

    "I'M A CO*K".

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