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House Price Crash Forum

W1zard

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About W1zard

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    HPC Poster
  1. My nan won £10,000 on online bingo last year and when we went round to congratulate her she then admitted that win had clawed back 50% of her losses so far
  2. Damn, is this what very average TV presenters end up living in these days?
  3. Surely prices would need to have dipped once before experiencing the second 'dip'. When was the initial 'dip'?
  4. Surely the higher this goes the more likely a correction becomes thus reducing the 'safeness' of the investment. I think Soro's sold most of his holding recently too.
  5. Why do these idiots never see the correlation between the salary multiple needed and the repayments required before asking themselves if the figures they see before them seem normal / reasonable / manageable / scary etc. It seems no one knows how to establish how over priced homes are even when they are shown the repayments needed.
  6. People need constantly reminding how much certain houses should cost of hpi was accurate relative to wages. I managed to get this to sink in with a work associate earlier today. He was talking about the flat he bought in the mid 90's for 65k and I then found like for like flats in the same block now selling for near to 200k and then asked him to calculate how much of a salary would you need to buy the same place now versus before etc. You could literally see the penny dropping on the realisation of how out of sync its all become. People with children seem more prepared to accept it but its a constant battle getting people see the problem between wages and prices now compared to before.
  7. A very small semi detached house went on the market in our area (IG9) two weeks ago for a joke asking price of 475k and I was pleased to see this has already been reduced by 30k when I last checked on Zoopla. At this rate it will 100k by December....
  8. Does anyone know how much a letting agent will fight for their little pointless fee they demand for printing a copy of a renewal contract after changing the date on it. The mob we deal with think they can charge £65 just to renew every year and even save on the postage by walking the letter around the block and posting by hand. I'd like to just refuse to pay the fee and was wondering how likely these people are to fight it. Cheers.
  9. Apart from being sponsored do any of you guys know how you can get the appropriate visa's to work in the US?
  10. These companies amaze me. They plough through the boom years buying up competitors and expanding in size and then it seems five minutes after the market turns and margins are squeezed they are fighting to survive. Why do they proceed with no thought to any potential downturn? As Warren Buffett once said 'its only when the tide goes out you can see who's been swimming naked'. Seems like most of these companies are starkers.
  11. I was away the weekend and was very pleased to see the sold sign for the house across the road which was on for 565k for a very normal looking three bed semi which needs totally redecorating had been changed back to a 'for sale' sign. Maybe some one had spotted these houses were selling for 350k in 2006 and the asking price is pathetic.
  12. I love the way they all fire off the 'reasons' for the current monthly figures ie lower unemployment & job losses probably led to a rise in prices etc etc. Its like trying to commentate with reasoning on a daily 0.2% move on share prices. Shares increase by 4 pence yesterday after job losses unemployment were better than first feared. They just wait for the results and then make up the reasons for the results once they have them.
  13. Are the historical multiples of 3.5 x income for a single applicant and 2.5 x joint income for two applicants still considered to be normal ? I know the banks totally disregarded these which allowed the inflation to begin but would you guys suggest these historical multiples are used now in order to safeguard against the risk of having huge repayments?
  14. Couldn't the idiot agent just advise the 'other interested parties' to all offer 115k also so the owner then realises that's the true value and the agent will get one of those rare achievements which is called 'a sale'. Why bother trying to create a drawn out bidding war for a couple of % commision.
  15. Do you honestly believe that he thinks this is the solution to the whole issue ? I just cannot help thinking he knows its about price and affordability (or lack of) but cannot state this too much without sending the sheeple scrambling for the exits on mass., George Osborne and Vince Cable have both used the term housing bubble in recent months so you would like to think they are all on the same page. When prices were sky high in the States Warren Buffett would refuse to be drawn into considering houses as either expensive or cheap based on all the usual parameters and chose to advise people to just consider them places to live in. Since then, after many areas having experienced 70% declines he has made several references to there being not much more falls remaining in housing. I just cant see how he could be so stupid so through fear of panicking the masses he spouts pointless drivel such as this.
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