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House Price Crash Forum


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Everything posted by Gush

  1. They never think about why people voted brexit that is out of scope for the polical elites. one group wants to forcefully implement their own unicorn, another belittle the majority vote and try to block it at any cost.
  2. Incentives and shakeups are always about reducing borrowing cost to buy over priced items. Shouldn't it for saving and buy value item. Why should they jump in to protect over stretched. Same for housing politicians and bankers jumping to 'save' on the mortgage interest and initial deposit, no talk of making it cost less or reward saving.
  3. I do rent a smaller cheaper house. have made use of pension contribution and ISA each year, but agree I have not made any investments, a capital at risk investment in FTSE would have created 5% return. spy's quote exposes to the forum what idealy should happen right from TC to Base rate, this knowledge causes harm when realising it may not happening in one's lifetime. Brainstorming happening here with no access to power or position is what bothers me.
  4. spyguy, all good to hear UK base rates need to be 2.5%, BTL IO should be commercial loan at 3% per month. Given its not happening at a pace a sane person can wait out. What else one can do other than not taking out huge debt.
  5. Happy to see banks paying the price for pricing people out of home ownership. But dont get why the hell should the politicians and regulator need these many f***ing years to do it.
  6. jeremy corbyn. Promise to build million social housing, tax btl out of market.
  7. I use firefox, the addon ABP adblock plus blocks all of them. In my mobile, the samsung Internet app blocks them.
  8. I think you are using your own earlier peak cash in situation to justify your new purchase when the OP is about valuation. Valuation as SG says can turn down as work start becoming more and more remote. You need to understand people's mentality once prices go down even if it's just 1-2 percentage, buyers postpone their decision amplifying the falls, given the seller is BTL scum who cannot hold on to a loss making investment anymore they amplify the fall as a forced seller. My take on the recent BTL tax changes are not because government want to do good to people, it's because they have realised they can't get away form any more bad. This is the least necessary policy response which cannot/will not be watered down anymore, as this is already the best possible watered down solution.
  9. +1. What he mentioned was to get them allocated the next vacant HA unit until council homes are built.
  10. I don't agree. HTB as well is a good policy if the intentions are right, instead of just pumping the bubble and builders profit. If HTB was introduced in london with strict limit on the cost of the new build say 20-30% below the then average say 200k in london and 150k outside london, that in itself would have brought down the floor price gradually to meet the subsidy criteria. Given government allocated billions it should have created a market of its own, rather than fit into the existing market.
  11. Housing equity of home owner and savings of renters should be treated the same. Once you sign with tax payer to prop the mortgage contract alive, the contract should change to share the profit as well at the end of term.
  12. +1 @azal777 Gifting a living to your offspring will handicap their ability to live on their own. Morals apart, hoarding houses is NOT an investment.
  13. How sad, had they released this threat before election we would have had him already.
  14. Spending 100k for last 10 years would just add up to the interest payment on the 300k mortgage at 3% and associated maintenance cost(insurance, service charges). Don't worry about your landlord mortgage it has not reduced by your rent income. Not buying during 2010-2012 is a mistake only in hindsight, buying now thinking price were and are rising so will also rise in future, with so many red flags around is f***ING disaster. Having said that buying for any other reason is personal and is one's own decision which I respect.
  15. There is no paranoia, it's logical that if sales deemed below market are not included, the stat will take longer to reflect the market. Not specific to LR but whenever EA or any salesman saying I will give you discounted price it most likely is the going rate. Any 'LL saying he is letting for below market rent that again is BS, it just means after risk assessment of other factors that is the best he could achieve which then IS market rent.
  16. No analysis or inferences of raw data, just a casual opinion to justify your purchase. What is written is anyways a readily available BS in MSM, What is value addition here?
  17. The savings not going for Govt. Will go times leverage multiplier to the vendor. So No, it will increase buyers debt.
  18. I look at this way, educating a generation is not expense but asset generation(I agree it should not be a Overkill), gambling 60bl in htb and ramping the expense of everyone who need to buy a house by30% is just extra expense for millions of buyers. What I mean is govt just choosing winners and justify to the looser that there is no money tree. There is no point isolating Corbyn as a nutter promising the moon. Every f***in govt is does that.
  19. Did conservative informed everyone how they were to fund billions allocated for HTB,TermTimeFunding, or lost inherence tax.. Govt don't and won't spend exactly what they earn in tax. Living in a magic tree them self and saying Corbyn is wrong to promise a magic tree for young is what is making him even more popular.
  20. True. I see comments ending with "will be selling in the next 4 years". WTF wait for 4 years. only fear and panic to be spread by first batch of bankrupt will change their minds.
  21. Maybe a Nationwide (loyalty) advert running in TV, the old and young couple speak simultaneously having seen the advert, 'we save here'/'we will be mortgaging here'.
  22. May be he means a LL will be forced to sell his main residence as well and become a tenant.
  23. My context of the reply earlier was for councils building social home, the right wing's bend the rules/bung the builder/deceit the youth(htb) building targets will not help in any matters.
  24. IMHO just like how Carney manages, if Govt announced to build 1million of them and build just one percent of it, the excess houses will come to the market out of fear.
  25. The otherwise unviable zombie companies living just because of cheap credit would die because of 'recession' the real companies who created widgets on reasonable profit would suffer as staff's current wage may become unmanageable. Given everyone wages reduces and deflation kicks in and the biggest cost on living goes down, there will be new startups using these low cost talents available onshore to produce new widgets unviable in the now toxic credit bing world. It could turn towards public sector bing by then and the cycle continue.
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