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House Price Crash Forum


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About wherebee

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    Essex, Ireland, Singapore, HK, and Australia
  • About Me
    Constantly amazed at the gullibility of the masses

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  1. right, which one of you went to Ohio? http://www.msn.com/en-us/news/us/gold-lunar-module-stolen-from-neil-armstrong-museum-in-ohio/ar-AAp1f9l
  2. oh yeah, there will deffo be a bail out of some sort - what I mean is intense panic as one of them at least is bankrupt on paper and the fallout from that in terms of mass layouts of highly paid twats...
  3. So - I have a house in Melbourne. My financial plans are built on it dropping 30% in value in the next 5 years. They are also based on at least one of the aussie banks going down in the crisis.
  4. OOh I am there in Auckland in a short while. I'll report back on local sentiment.
  5. Also all the countries they name as restricting buying from overseas were nice, white, western countries. They could have chosen China, HK, and Singapore - much more effective controls.
  6. "poor ******er, a debt slave for life' should have been your response
  7. I've said on this forum before that one of the reasons I despise the 'right on', Live aid, immigrant cheering, transgender loving, global warming mob is that almost without exception when I have met a REAL **** in business or personal life linked to a financial issue, they have turned out to be one of that mob. Reminds me of catholic bishops overseeing a starving flock whilst they eat like kings, solid in the knowledge that they are doing 'gods work'
  8. I had this in a flat in Hong Kong. Beauty was the new owner/landlord had not checked the tenancy agreement that I had altered with the old landlord so I had an early break clause at no cost to me. Was part of the negotiations for me taking on an initial 2 year term. I was well narked that the flat was sold with no notice to me of the change until the new landlord demanded an inspection. In HK your landlord can make a huge difference to your life. So - new owner buys the flat. Comes round to inspect. I take great joy in handing in my 30 days notice, 6 months ahead of the 2 year tenancy end. He waves the tenancy agreement in my face and gets his translator to tell me it runs for another six months. I show the translator the early break clause. Cue meltdown and shouting screaming at the estate agent LOLOLOL. Expat Flats at that price range often spend 2-6 months void. And the flat was priced at about 2.5million GDP. That's a lot of mortgage payments.
  9. I have also, when talking to Ameircan friends, heard security concerns as a driver for not going to the mall. Seriously. There was a gang fight in an upscale mall in Long Island a few months ago and I know some people who live near it - they were talking as if the barbarian hordes had entered Rome, and they were not going back to risk a repeat.
  10. OK, some of you will recall that I am watching a specific patch of SE england, coastal region. I have known it for 30 years since before leaving the UK. There are 20 flats in a block. I have never seen more than one on the market at any one time. They have always sold. As of yesterday, 5 are on the market. 3 are reduced from original prices by 20-40k already. It is a material shift from the last 15 years.
  11. Chinese buyers plus lax lending standards. That's it. If you stopped Chinese money into Auckland, it would crash. Gvt will deny it - to which my answer is - OK then, stop it and prove it.
  12. I often think that if I was a normal earner needing a property in the UK and had no morals, I'd do one of those teaser rates, deposit paid 100% deals, and hide all my assets in gold/other stuff, and just move in and pay the mortgage until the teaser rate ended and then go bankrupt. Why don;t more people do this? When the game is stacked against the common man so badly, breaking the board is the only logical move.
  13. What a complete and utter disgrace. Legislation to implement the second tranche of anti-money laundering (AML) legislation covering real estate gate keepers has been gathering dust for nearly a decade despite explicit criticism from the global regulator, the Paris-based Financial Action Taskforce (FATF), that Australian homes are a haven for laundered funds, particularly from China, as well as similar warnings from Austrac. In the meantime, dodgy Chinese money has piled into Australian property, in the process inflating house prices and pricing young Australians out of home ownership. When will Australia’s politicians finally take action and end more than a decade of neglect by bringing Australia’s real estate gatekeepers into the AML net – as demanded by FATF and Austrac, promised by the federal government in 2003, and intended when the AML legislation was first drafted in 2006? Or will the Australian Government continue to turn a blind eye to the dirty foreign money flooding into Australian property?' A simple route back from the madness would be for an Australian government to set up a small unit, under 100 people, to street by street track ownership of all property in Sydney/Melbourne. Bring a law in that any property bought in breach of FIRB over the past 20 years is now property of the state. Bring in a law that any property owned directly or indirectly by a non-citizen of Australia, foreign trust, foreign corporation, has an annual 5% capital tax. If ownership is claimed by a citizen, financially analyse the purchase against declared income tax from that period. when I rented a house in Melbourne a few years ago, of the 12 houses around me, three were owned by Chinese that I knew of, and either empty or 'rented' to relatives. This was in a scrubby suburb with drug problems. I would bet my left bollock that those three houses had NOT gone through the FIRB. You'd drive out the abuse within a year. And massively boost government coffers.
  14. RUH-ROH SHAGGY! http://www.theage.com.au/business/banking-and-finance/sp-says-more-borrowers-falling-behind-for-first-time-on-mortgage-repayments-20170330-gva55t.html
  15. Can you imagine the knock on effects if a real depression hits the UK and en mass people stop paying rent to the mass of private landlords who are one month away from mortgage default? LOLOLOLOLOLOLOLOLOLOLOL
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