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House Price Crash Forum


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About Mugwump

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  1. Never mind cars, most peoples brains are subject to an immobilisor. Its called television. You sit in front of it and it subjects you to an endless stream of veiled suggestions that you conform to the norm. Later, these suggestions get repeated through speech, at work, or elswhere, where they are accepted as reality. When the TV goes on, the brain goes off. And while the brain is off, it is subtly re programmed to think in certain terms. Thats why we all think the way we do, and hold the opinions we hold. It has backup too, in the form of the press, whose freedom is held so dear. You might thi
  2. Surely this is utter rubbish. Can anyone believe anything the council of mortgage lenders says after this? ( not that I believed them anyway) Or am I missing something? "The Council of Mortgage Lenders today said first-time buyers were typically borrowing 3.42 times their gross income in April, slightly up from March." What is the average gross income of first time buyers? http://www.thisismoney.co.uk/money/mortgageshome/article-2656439/Chancellor-set-hand-Bank-England-power-cap-home-buyers-borrow-bid-curb-runaway-house-prices.html
  3. Do you really think that there is a democracy to be subverted? What we have is not democracy, it is autocracy.
  4. Sorry drunkincharge, but I dont understand what you are geting at in your second sentence.
  5. It seems obvious to me, but maybe I'm wrong? There is simply no way that houses can be worth what is asked for them today. A very high percentage of them can only be bought by those who have one to sell. Its becoming a closed circle, where "owners" bid up prices for other "owners" in a way that is almost cannibalistic. Property owners are feeding off each other is an upward price spiral that must have an end. I think, when the bubble bursts, as I am convinced it must, the term boom and bust will have a new meaning. The boom will be the sound that describes what was once a pop. The bust wil
  6. I am not sure if it is the crisis itself that is driving the Brits and others out of Spain. Rather, I think it is taxation. Some time ago Spain introduced a reporting requirement whereby all assets, worldwide, over (I think) €50,000 have to be declared to the authorities there. This has probably put a lot of Brits in a rather tricky position. Spain taxes second properties on imputed rents, so...If you are tax resident in Spain and own a house in the UK(for example), you will be taxed by Spain on the imputed rental income derived from that house. The tax base is around 2% of the value of the
  7. There seems to be a constant stream of scare stories designed to panic would be house buyers into making the jump from the fence into dung heap of debt waiting on the other side. Whenever there is something presented as an incentive to buy, whether it is low interest rates, HTB, or some other special deal, it creates a new wave of the "now is the time to buy" brigade. This always seems to be followed by a scare tactic. Rates are going to rise next year, or lending criteria are going to be tightened or some other future disaster waits just around the corner which will devour alive the potent
  8. It does seem to compare rather well with this actual graph showing the evolution of per meter prices for houses in Spain. I wonder if the missing second peak is a result of the rather unique situation the world finds itself in at the moment regarding the state of its financial institutions etc.
  9. There have been black holes in budgets for as long as I can remember. It never seems to make any difference though. I wonder why?
  10. I believe the EU has recently addressed an anomaly concerning social security contributions made in different countries. Sorry, I dont have a link for this, but you might like to research it for yourself. Basically, because each country has different qualifying periods for pension rights, it was possible to make contributions over a long period which did not count towards a state pension. Here's an example. Country A requires 15 years national insurance contributions before qualifying for a pension, and country B requires 10 years. Joe is living in country B, but works just over the border
  11. Your rather simplistic statement belies the reality of the housing situation in Germany after the war. You seem to be using a construct of your own making, unsupported by any evidence, to suggest that newly built or reconstructed housing in Germany, post 1945, was generally of a higher standard than that of the UK, and that this is why the UK has worse living conditions than Germany today. I suggest you read this informative article from Der Spiegel, which goes some way to showing the complex realities of peoples lives in respect of housing in Germany immediately after the war, and later, befo
  12. I find that I sometimes enjoy a deep fried sideboard, or perhaps a lightly toasted sofa, especially when accompanied by a creamed polyester jacket, and washed down by a nice glass of softeneur de fabrique.
  13. When I read about people with a lot of money pretending that it is really not so much, it reminds me of a conversation I had as a young man while on the overland route to India, circa 1970. In Herat, I met a fellow traveler coming back after several months in the sub continent, and asked him what it was like. The conversation turned to money, and costs. After a while, he said, " if India has taught me one thing, it isn't that the poor are able to do so much with so little, but rather that we westerners do so little with so much" Not rich with two and a half million? Go tell it to a rickshaw
  14. In the cities there are quite a few corporate holdings of residential property which are let. There are also quite a lot of owner occupiers, also mainly flat dwellers, as German cities are predominately composed of flats. But Germany has a much lower percentage of city dwellers than the UK (please dont ask for evidence, I'm a bit tired). It is a country of villages and small towns. In those smaller place, houses (and flats) are of course sold, just like everywhere else, but there are a large number of properties that are handed down from one generation to the next. Of course, if you are someo
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