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postmi

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About postmi

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  1. Great rant.............. http://blogs.reuters.com/felix-salmon/2010/08/13/why-santelli-is-right-and-wrong-about-housing/
  2. I live down the road in Derby and I went shopping in Nottingham city centre today. I wouild say it has been around three years since I have been into Notts city centre and it has changed. Poundland after Poundland. If its not poundland, it's a 99p shop, or cash for gold or Greggs the cheapo bakers. Lots of empty shops too. Nottingham centre used to be thriving! But the last house price decline (not crash as that has yet to happen) hit Nottingham hard. Lots off public sector workers in Notts too. No. Nothing is going on in Nottingham quite literally! other than estate agent devious tactics.............
  3. UK Housing Market update August 2010 from an ea in Manchester. His personal opinion I guess http://www.youtube.com/watch?v=99YQSOieuH0 Personally I believe sellors will remain deluded for the rest of the year, or until October when the govt does its spending review and the shite really hits the fan
  4. You're right regarding Nottingham. Prices fell hard. Lots of city centre flats and speculators flooding into nottingham during the boom times. Unfortunately Derby prices remain stubbornly high. Prices did fall, but nothing compared to nottingham. Has a lot to do with the differing demographics between Derby and Nottingam. Derby does not have a big university, unlike nottingham. Derby is smaller with a lot of large high paying industry, Toyota, Rolls Royce etc. The population is less transiant. However, the tide is turning. Very ittle moving. Those that are buying are cash buyers.........
  5. Cheers. Forgot all those late Feb/March/April SSTC would appear in the June figures once completed. Rightmove showing very little is now seeling in Derby with lots of reductions on a daily basis.............
  6. Really good news regarding the nationwide house price index. but then I looked at the recent land registry data (for June) for my home town, Derby, and my heart sank a liitle. http://www1.landregistry.gov.uk/houseprices/housepriceindex/report/default.asp?step=4&locationType=0&area=City+Of+Derby&reporttype=1&datetype=1&from1=01%2F2009&from2=06%2F2010&image2.x=24&image2.y=13 I suspect and hope this was on low sales volumes with only high end properties moving and completing. Hoping for July data to show a drop
  7. The market (sellors) sentiments will be such that you would be able to make "cheeky offers" and have then accepted, and/or there will be more forced sellers will to accept lower offers. That way you can have the home that you have always wanted at a 2012/13 price. Trying to predict the bottom may mean that you never buy because it is so unpredictable. If I buy mid / late 2011 its only a couple more years before any rebound if 2013 is the year for rebound of prices. Once I see 10-15% falls, I'm going in.....with is cheeky offer of course!
  8. So Forex predicting -0.4%. So it will either be -0.2% or -0.8% judging by their recent predictions. Either way its gonna be a minus figure. And thats all good bearing in mind it is the peak house selling/buying season. I predict 1--2% MoM falls during the Autumn and winter as mortgage lending dries up. Interest rates irrelevent now. January will see to that with the 2.5% VAT increase. Which effectively is a 2.5% pay cut for all. When your pay is frozen for the next few years, thats not good. Ohh, that is if you will have a job in January of course. Preparing to buy next June / July......for cash
  9. In my neck of the woods. Most sold properties are sill on SSTC from Jan onwards. For those who are property Beeless, keeps things looking busy......
  10. Exactly! If you stash is there for the purposes of buying a house, and prices are dropping, inflation is not a problem...I've managed to stach aeawy £170K at the ripe old age of 32 for the purposes of buying a house with a miniscule mortgage witing the next 6 to 12 months...(hopefully), All depends on whether the BOE printing presses stay silent. Why start speculating in any big way and risk losing a big chunk of cash?
  11. http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#only-the-top-5-percent-of-us-households-have-earned-enough-additional-income-to-match-the-rise-in-housing-costs-since-1975-8 sobering stuff... Time for the next American civil war me thinks !!!!
  12. http://money.uk.msn.com/msn-local/articles.aspx?cp-documentid=154126918&pgnew=true&_p=8fb71b0f-47f5-4197-a18a-7c919013bd9b&_nwpt=1#uc2Lst8fb71b0f-47f5-4197-a18a-7c919013bd9b It's getting hilarious now! The sad fact is that some people will beleive them and throw their life savings at the EA's to prop them up...
  13. Wait a minute? Did I read this right? The local authority employs someone just to shred paper?!!!! I am sooo happy to see my council tax is being spent so "efficiently!"
  14. Ea's sit behind their desks, phone to their ear (with no one on the other end), staring intensely at their computer screens (probably looking at porn), hoping that a stupid, ignorant, ill-informed mug will walk through the door with a little cash in their pocket....Its still happening. So these EA's will survive with low sales volumes off the back of other peoples debt misery.........
  15. If they cant pay their fixed rate, what makes you think they will be able to pay the SVR? Those on the mortgage relief schemes cant pay their mortgage irrespective of it being fixed or variable. Repos will increase....fact of life i'm afraid. Let me remind you, the tories are in charge now......
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