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Everything posted by J-Hi

  1. MMR watered down, inflation rampant... I've given up and decided to buy. I've come to the conclusion that the Coalition and BoE will do anything and everything to prop this market up. As a result I might as well join the party and get my debts inflated away rather than sit on the sidelines getting angry and watching my deposit shrink. What a country...
  2. If you can't beat them, join them. Don't get angry, get even! I've come to the conclusion if the Coalition and BoE are determined to try and inflate us out of debt I might as well buy and benefit as well, rather than slowly self combust with righteous anger...
  3. I like the idea. Petition wouldn't work, it's a very old fashioned approach. Social networking is the only way you could mobilise people quickly enough and in sufficient numbers. Seriously the movements in Tunisia and Egypt were both organised via Facebook.
  4. So in reality house prices actually FELL by £28! This makes me feel less depressed. It's a risky game they are playing with these "seasonal adjustments". If the "spring bounce" doesn't materalise then these adjustments start to work in our favour and the falls could be quite significant. It will be interesting...
  5. Is that the seasonally adjusted figure? What's the real MoM figure?
  6. -0.7%, but seasonally adjusted to +0.3%
  7. I think this is being driven by an incredibly low number of transactions. It's depressing reading for someone from barnet, although I think slowly things are turning...
  8. Couple of months ago the MoM figures were irrelevant. It was all about "the more accurate quarterly" trend. Suddenly the quarterly figures have vanished? Any ideas why???
  9. Hope you bears are right! I'm starting to question our collective sanity a bit. We all want a HPC. Partly because we want property to become more affordable, partly because we want smug over extended home owners/BTLs to face the consequences and partly because we all want to be proved right! However, I think I am now starting to lose perspective. When I hear about rising inflation and unemployment I should be worried and appalled, yet I celebrate because it could bring a HPC. When I think about the massive levels of debt and huge deficit I don't worry about our country's future, I think how this will help collapse the property market. I want a HPC, but I fear it's going to take an economic collapse or "lost decade" of stagflation to get one. Neither are appetising and in many respects would ruin the benefits of a HPC anyway. What a mess...
  10. Great point Mr. Spin. IR rises are a bit of a double edged sword i.e. house prices may decline, but the cost of the mortgage will increase (encouraging people to buy and prop up the prices). My worry is that IR will be kept low for years, meaning a slow decline but no crash. Eventually the economy will pick up (could be several years) inflation will level off, banks will lend more and ask for smaller deposits. Prices will then start to rise again, slowly. The bastards might just pull it off...
  11. So a university lecturer has only just woken up to our economic problems? No wonder students are rioting over tuition fees! And she feels underpaid!
  12. Spot on spyguy. I live in N London. Earn comfortably more than £50k, have a pretty big deposit and still can't afford a decent house!
  13. 150k mortgage @ 1% IR increase (which will probably take 18 months) = £77 monthly rise in mortgage payments. Does anyone seriously think this is going to create panic and trigger our long awaited HPC? IMO it's going to be a long slow grind unfortunately people...
  14. With high inflation but low saving rates, anyone who has a big deposit but no house is screwed. Not if they intend using that deposit to buy a house which is falling in value numb nut
  15. I think a lot of people will probably be able to struggle through modest IR rises and the upcoming increas in unemployment. IMO it will be drawn out. Slowly with rising inflation and IR sheeple will realise the foreign holidays, meals out and designer handbags are gone. At this point they will sell up, downsize and use whatever equity they have to subsidise their lifestyle. At the end of the day what's the point of having a nice house but no holidays, social life or days out?
  16. I tend to agree with a lot of what you have said. My only observation is that how long will people "make do". Many people have come to expect foreign holidays, meals out etc and don't necessarily see them as luxuries. They might accept one or two years without but IMO when they realise they might not get abroad for a decade they will succumb, sell and use any equity they have to subsidise their lifestyle. Unfortunately as you point out this will take years to really have an impact. Basically FTB have been screwed to support the irresponsible and over-leveraged. It makes me mad as hell
  17. I fear the West is finished. Mass immigration and declining birth rates amongst people of European descent are a huge ticking time bomb. Add to this multiculturalism, welfarism, socialism, apathy, obesity and the fact the Left has covertly taken control of the state and education system and I can see nothing but a slow painful decline. It is a hugely depressing state of affairs. For 500 years we have been the driving force of the world and humanity. Soon the West as we knew it will be finished and yet the European people are so complacent they cannot see they are commiting the biggest, slowest and most unnecessary mass suicide the world has ever known.
  18. Methinks the Northerners doth protest too much. Down south - more money, better jobs, better weather, better and easier transport links to rest of world, better restaurants, more theatres, galleries, cultural pursuits. As for the "countryside" don't spend much time there myself but the Home counties are renowned for the lovely "green belt". Kent being "the garden of England" etc. House prices are more expensive down south for a reason
  19. The SE is generally speaking a complete shithole. It's the hollowest of victories. All the evidence would suggest otherwise. People from all over the world aspire to live in London and the Home Counties. I'm North London born and bred, I rarely venture up North. Quite frankly there is nothing there I can't get round the corner here and the weather is shite. Worst aspects of SE? Cost of living (including HP) and the "multiculturalism".
  20. Seems to me this "seasonally adjusted" stuff is all smoke and mirrors. I won't be making a seller a "seasonally adjusted" offer, it just seems a way for banks/BS to spin things. Reality is that the market is falling, slowly but momentum is building. Hopefully tomorrow will confirm this
  21. I still don't understand how Nationwide reported a "seasonally adjusted" rise, when the month on month figure went down? Based on this and the BoE mortgage approvals wouldn't surprise me if we got a rise... Hope I'm wrong!
  22. The EAs last argument doesn't appear to stack up according to Hometrack! "Hometrack said demand, as measured by the change in new buyers registering with agents, was down 4.8% on the month in December, following a 4.3% fall in November. Supply fell less rapidly, with the volume of property listings falling 1.5%."
  23. GC your constant gold and PM ramping does get somewhat tiresome. However, fair play to you for having the balls to invest, so far it's paying off for you. Wish I had the bottle...
  24. Sugarflux I'm in virtually the same position as yourself. Sitting on lots of cash (in my case in fixed term bonds). Not sure what to do when they mature. Being very conservative I'll probably roll them over and hope GC's prediction of the destruction of fiat currency is exaggerated. On your other point (pressure from the wife), point out that firstly as you earn most of the money you should have the final say on these matters and secondly as you are much better informed with respect to the macroeconomic situation and it's impact on HP she should accept your greater wisdom. Nothing annoys me more than pussy whipped men allowing their spouse to push them into house purchases, which simply helps to pump the bubble.
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