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moody frog

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About moody frog

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  1. Demand and the lack of investment over the last three years !
  2. It has a lot to do with where you choose to live......live in the catchment area of a good state school every town has one but you pay a premium for the house or cheaper house in a zone of a run of the mill school and use the often substantial saving on the bricks and mortar to pay the fees for private education. Theres often 100k off a difference in price from one side of the street to the other depending on the catchment.
  3. Err no...her husband is a contractor and effectively lost his job. Hope you gloating over the misfortune of others are touching wood The article didn't mention if there was any equity left after the sale, why assume there wasn't ?
  4. If you'd posted the rest of the text.....it states that she sold the house and now is in rented accomodation ......... A personal tradegy for the lady in question I'm sure but lowering yourself to gloat over a partial quote is pretty juvenile, dont you think ?
  5. Used to work for Shell.....dreadful company to work for, if the oil didn't flow under its own pressure theres no way Shell could make it happen. Thirty managers all back stabbing involved in every decision, a total dinosaur................the new man is shaking it up and the share price is certainly improving but I'd not recommend them as an employer......dreadful low rates as well.... Conversation with an agent last week........Me: whats the rate ? Agent: well.....err....its x (x being about 15% lower than my current rate) Me: you're joking aren't you ? Agent: no its Shell everone wants to work for them Me: yes, once....if you have anything else coming up at market rates let me know Agent: ha ha, your the third person to say the same
  6. Ageed but it comes back to the game of musical chairs again, most people will just stay put.......the other poster re. the elasticity of thf the housing market summed it up nicely. People are also less inclined to move when their status quo is under threat perceived or real.
  7. The collective belief may have changed in 2008........but how many home sales have their been since then ? Most people may have changed their beliefs but they didn't rush out to sell their home. Everyone needs somewhere to live and thats what makes the housing market different from other assets......you don't need shares in M+S or a few ounces of gold. Its a fundamental aspiration of humans to have the best cave.
  8. The few true forced sales, are currently snapped up quickly, the only thing that would drive a crash is if there were no buyers for forced sales. There is a lot of wealth out there at the moment looking for a return. How many of those true forced sales are flipped ?
  9. I take the point that many of the people that desire to buy do not have the ability to do so, therefore you are correct they are not pent up buyers in the current situation of affordability wrt mortgage availability. However although I desire a ferrari I dont have the where with all to buy one, however, should the price drop I would then be competing with the others that also desired a ferrari.......hence the desire creates a price floor. Whereas only some people desire a ferrari, everyone needs a roof over their head. The people that bought at the peak are not the only people with a house, not everyone that bought at the peak works in the public sector, not evryone of these people will loss their job or not be able to affort the repayments should interests rates go up a couple of points. A house is a roof over your head even for the people who bought at peak and who are now sitting on a paper loss. Unless they have to. why would they sell, they still desire or rather need somewhere to stay. We won't see massive forced sales and the "hoped" for crash without troops on the streets and thats in no-ones interests least of all the government or the banks. More stagnation and a slow decay. The propery ladder or snake for that matter was musical chairs but the music has stopped and most are people are stuck where they are for the time being.
  10. The fact that we are all in agreement that there are pent up buyers says it all really. I agree that pent up buyers have no choice, but to save........as to the sellers most, as in the overwhelming majority, are under no pressure what so ever to sell and can choose the timing of their sales if they ever indeed sell (we all need a roof over our head afterall), it certainly won't be the pent up buyers that dictate the market. Who in their right mind is going to crystalise a loss unless they have to...... Politicians are doing everything possible to have a soft landing, they want to keep their own jobs....... Banks will decide........but there again is it in there interests to cause a rapid decay in the asset values that support their balance sheets.....IMO no ! More stagnation.
  11. Wishful thinking. There are certainly many pent up buyers but pent up sellers ? The stand off will no doubt continue ...........forced, as in truley forced sales are so rare they virtually no impact on the majority of people who regardless of the majority opinion on here have no need to sell.
  12. As always with every correction the swing to controlled responsible lending from madness has gone too far when high earners in secure jobs with a decent deposit cant buy their own place. Possibly some good news for people desperate to get out of rented accomodation.
  13. Sell, why ? Theres absolutely no driver for me personally to sell which at a national level is why massive drops in value in the short term are unlikely. The maths are straightforward for a cash buyer and mortgage free owners, I paid 70k for the flat, orignally on for offers over 80k with a home report valuation of 85k, I've spent 5k to freshen it up and brought up surplus furniture from down south so fit out has cost say another grand, if I rented a similar 2 bed for a year it would cost me around 7 or 8k, so even accounting for maint and insurance etc, I'd have to see year on year falls of near 10% to come out even. We all need somewhere to live even if its paying to use someone elses roof. I prefer to have my place as I want it, to my taste and for me personally in my own particular circumstances it made sense give the current low interest rates on savings. Who is Hamish ?
  14. I suppose, you're paying someone else for the privilage of using their property as well then. Given the implied bitterness there's obviously a few decisions you reget, did you miss the boat by much ? I have a wee flat in Aberdeen bought outright from a pressed seller a few months ago using cash that was effectively costing me money to bank. My main home is in the SE bought nearly 25 years ago with less than a year to run on a 270 quid a month mortgage. Yes, I'll take any financial advice you'd care to offer.
  15. In Aberdeen, public sector first time buyers were out of the city market years ago. I guess it happened in London and the south east a decade or two ago. If they are owners, they bought a decade ago or are mortgaged way beyond comfort. Hourly rate comparisons.......the bulk of the employees are minimum wage or slightly above, in a town where tiny studio flats in the worst parts of town went over 50k at least 7 years ago and where an experienced engineer is currently making between 500 to 600 quid a day ! To date, there have been negligable head count reductions up here, the spending reviews are still underway (wasting more money), what job cuts there are will be mostly in the form of early retirement, vacancies not being filled, with the bulk ultimately going on, no doubt generous, voluntary severance packages paid by our taxes. This is not the wholesale cull that is so urgently required. I recently tried to buy a delelict house the council were selling off, the tender exercise took over 9 months with still no decision, totally ineffective, being made to jump through all sort of petty beaurcratic hoops which could never exist if it was private money being wasted. In a private company a third of the staff would be twice as effective.
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