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House Price Crash Forum

Alex Samoa

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About Alex Samoa

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    HPC Newbie
  1. No The facebook group is not like some petition - a million members back clapping each other would change nothing. It was merely a place to galvanise people to branch out from closed communities of the converted into action to FLOOD the internet with endless posts warning of the impending crash that will break confidence (the lie that stoked up HPC in the first place). This then makes people decide to wait a while longer and so precipitate the crash this country (as a whole) needs if it is ever to get on a sane financial footing. First time buyers need to earn more than a politician in London/SE to get on the ladder it's a nonsense. Re the other guy who had some plea about how a crash would be a bad thing. NO the bad thing was HPC that has cost us tax payers 300 billion so far in bank bailouts! We take on the risk so others can make money risk free! If you want to make money investing fair enough, buy shares and take on the risk. Making money out of property bubble that cause the near collapse of the country is a joke of a business only defended by the self interested. I do 'proper' work for my money so any poor-me pity nonsense from property gamblers will NEVER get any sympathy from me EVER! BTL under LieMore went from 1% - 10%! I reckon 5 people working flat out for 3 months, flooding the net with HP negativity would be enough to break the evil spell of HPI confidence and precipitate the crash. Houses would only fall back to their true worth like any commodity, probably 50% off 2007 peak. I think that anyone who doesn't think this WILL happen and believes lies about property shortage or other factors having any influence are truly deluded. Lack of money because the debt tap of NeoLieMore has been turned off is the key factor that trumps all others by a mile. All that is swishing around now is old fake money transferred from one part of the bubble to the other be it via bomads or BTL mewing to expand or foreigners taking advantage of the weak (but strengthening) pound. First time UK buyers (real new money) are at an 18 year low and unless inflation goes through the roof, or banks return to 10x salary or liar loans will all but dry up. With no new fuel, the gravy train stops and rolls back down the hill The next decade has already been spent by Gordon Brown, cash is king, sell up now while you still can, the glut is building and once the momentum truly gets going and with no Flash (the cash) Gordon to re-inflate the bubble as in 2002/2005/2008, it's going down like Farages's plane. He walked away will you? PS - What have England got in common with a tea bag? A tea bag stays in the cup for longer! The England team were hoping their plane would be diverted to Glasgow so they could return to a hero's welcome! David Blaine was upset today when his record for 'doing nothing in the box' for 44 days was broken by Wayne Rooney!
  2. Fake Mates lying to each other? yer sounds groovy, good luck with that. Back to the HPC. The point is we had 10 years of the media, estate agents, banks and government all colluding to force prices through the stratosphere. The idea that another group of people may now wish to do the exact same thing in the opposite direction seems as natural as night becomes day or any pendulum swing. The UK housing market is like some 10 ton truck that's ground to a halt. We cannot push it back in the opposite direction ourselves but once it begins to roll back we can join in and add to its momentum and ensure it doesn't stall. The gov should have raised CGT to 40% on houses from next April (give people time to get out if they wish it's only fair) and left it at 20% for shares. Investing in business boosts our economy but investing in houses is the root cause of this and many a prior recession. It's as obvious as the big fat nose on Gordon Browns stupid face yet no action - doh!
  3. Well AFAIK there's nothing 'illegal' with flooding the internet with personal cynical opinions on imminent House Price Armageddon. Why would anyone ever use a 'real' profile in the internet for anything? Mega H.P.I. only occurred as with any bubble due to a mass belief that prices would rise and easy availability of banks lending fake money they didn't actually have (as we found out). If you kick-start a mass belief that prices will drop like a lead balloon then they will. It's a confidence trick and can work both ways up and down. If 25% of people in the public sector lose their jobs and with mortgage on benefits reducing and rents on benefits being capped and endless other reasons, it's not difficult to convince people who may be thinking of buying to wait a year or to and save 30%. Once the repo's begin to accelerate this/next year it will drive down the prices and cash will be king. I plan to buy from some over leveraged sucker (200k mortgage on a 30k job) at auction in a years time at 40% below peak. The clever people have already sold up and are cash rich. I can enjoy the freedom becoming a born again renter gives me, free to emigrate at the drop of a hat if needs be, with cash no problem. I have fallen out of love with the fake security of owning bricks and mortar and I'm not the only one I know to have gone from owner to renter in the last year. Bloody albatross round your neck when trying to sell during a downturn. I'm not going to sacrifice my new freedom willingly. ANYONE who owes over 3 x their salary is a sucker and have paid through the nose for an overpriced asset, good luck when the sh1t hits the fan next year. I KNOW I could weather any depression (assuming the banks don't collapse) cos I have plenty cash, not bricks which in the immediate short term is a much safer bet. There's no worry of getting left behind with rising house prices any more as no one can afford them anyway so if they magically went even higher no one could still afford them so no change there, just a clearer message to emigrate with your skills and taxes to somewhere more rewarding! England is a deluded place in house prices even more so than football! Wakey wakey BTW my intention re Facebook group (though have had zero time to spend on propagating it since inception) was to take a far more hardcore approach to killing HPI confidence stone dead and replacing it with pure panic to precipitate the crash our economy needs if it is ever to readjust. Drop your price 10% and sell up BEFORE interest rates rise, you lose your job and when everyone else is forced to do the same when you'll have to drop 20% or more. Fact is the government NEEDS prices to fall and as soon as the banks are recapitalised enough to take the hit they will pull out all the intervention and let it plummet. Remember The value of your investment may go up as well as down.
  4. Conservatives made more gains than at any election since 1931 Labour lost more seats than at any General Election since 1931 The Tories clearly did win as they're running the country. Ironically with a higher 36.1% of the vote giving them 306 seats vs Labour's lower 35.3% vote share in 2005 which gave them 356 seats! Typical Labour, dishonest as the day is short. New Labour were the most corrupt government in British history and only the brainwashed will mourn their demise. We've all had a narrow escape, now time to clear up Labours mess (again). PS - The banks were a minor player in our current mess, Gordon Brown's 'tax, borrow and overspend' madness was the main cause. As it was Labour who racked up the trillion national debt, I think it should be Labour voters who pay for it, why should the rest of us suffer? Get your cheque book out az!
  5. At the root of every UK recession there seems to be a property bubble. The government needs to end property as an investment vehicle and coerce people to invest in business via stocks and shares. Property investment generates zero wealth for the country just shifts money around from workers to w@nkers, with the workers carrying all the risk (300 billion of it so far!) and the w@ankers getting free money from hard workers unable to buy houses. Investing in business via shares actually generates new money and new taxes. Give them 9 months to dump their houses. Alternatively everyone goes on a rental strike and begins the domino effect of UK Bankruptcy to force prices down. Maybe a tax strike as well, after all why should you work your ar*e off to pay nearly half of your money in taxes (24% employers+employees NI + 20% Income Tax) to finance housing benefit payments to slum landlords who do nothing and don't even pay tax on it (offset rental against mortgage interest) and WE the workers carry the risk! It's Robin Hood in reverse, ironically all engineered by a 'Labour' government! You couldn't make it up!
  6. I think there should be a 3% sales tax paid by the seller on all property sales (of any value) and get rid of stamp duty. Also the idea that a landlord earns money from rent for doing nothing and then doesn't pay any tax on it (by having a 100% mortgage to offset it against) while the workers have to actually get out of bed every day to go to work, to earn the money that is then taxed, the vast remainder then handed over to aforementioned landlord in rent is a joke, so THAT has to go. CGT should be raised to 40% on second homes starting from April 2011 with a CGT amnesty of 10% from now until then to allow investors time to shift their assets. CGT on shares should be set at half this at 20%. This will discourage investing in property, which causes houses bubbles and is the root cause of this and almost every recession and simply transfers wealth from hard workers to Landlords for doing nothing both directly as rent and indirectly tax->housing benefits->Landlords. This will encourage investing in shares that boosts business and the private sector that generates all the revenue in the first place. It's so simple it's scary it's not been done yesterday.
  7. People vote Labour for the same reason people go to Church, faith. There is no logical reason to do either, or indeed to ever hope to de-program either. Remember Labour have totally bankrupt this country, worse in its entire peacetime history yet a large swathe of people (29%) were so convinced that this was a good thing they went out and voted for another 5 years of it? This alone tells you there is no future for Britain, a nation of fools. The same fools who are STILL rushing in to pay £350,000 for a tiny terraced house they have zero hope of every repaying, tricked by the collective madness that everyone else is doing it. Slowly but surely the intelligent ones of the next generation, who are also the main tax earners for the country will emigrate, there is no logical reason to stay here so it is only faith that slows the inevitable pace. Gordon Brown did end boom and bust forever, Britain is now bust forever. That's the main reason why my money is staying firmly in the bank and not in UK bricks and mortar while I contemplate where to emigrate to. I wouldn't pay more than 50% of the current asking price for UK property which is it's true worth accounting for inflation since 97, though given the backdrop of the UK's biggest debts in the world, I doubt property is even worth 25% of current asking prices. It'll take time for this to sink in, but give it a decade or so. The dying breaths of a decaying nation, finally smothered by Labour, goodnight Britain, sleep well.
  8. I hope I'm OK posting on here, we're all in it for the same thing. What I want is to gather people together to pro actively try and do anything and everything to precipitate a UK house price crash. Create a new confidence in falling house prices to combat the delusional rising price confidence manufactured by the vested interests over the last decade by collectively flooding the internet with house price doom and gloom . Only in the Britain could prices rise in the midst of the longest recession in history. UK House Price Crashers http://www.facebook.com/group.php?gid=124068244291283 Please Join and help to crash the UK housing bubble.
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