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House Price Crash Forum


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Everything posted by teddyboy

  1. BLAIR: I think ive got a pube stuck in my throat? GB: OMFG I was sooo drunk last night!
  2. I thiink the whole idea of live today and worry about tommorrow us why we are in £1.1 TRILLION of debt!!! "Fail to prepare and prepare to fail" Lets say I buy a house for £100K interest only. - lets say its worth £400K in 25 years time. I manage to get through my mortgage and I am 55-60 Years old. If I wanted to buy that house I would have to find £100K to make the purchase. The same position you are in at the start! Why not pay it over the term so you dont have to find a lump sum at the end. The arguement of you have £300K in equity is not worth a toss because If you did not want to buy the property you would have £300K to spend. If your house is £400k you have paid interest on a property and then have to buy a WORSE house? Dont make sense - but each to their own!
  3. Being from the pool and 'tocky' not too far away I can safely say they are a lot of areas of Liverpool which have empty run down areas. When I knew it was about Liverpool I just KNEW they would go to Tocky! I do think it was quite a fair representation of the area tho - woman getting a drink from a family whilst they find the guys phone number - That is the spirit in the community but the camera's certainly made a difference The area they were 'Princess Road by Princes Park' have some the finest houses this country has to offer. It was doctors paradise in the late 1800's. These are TOP QUALITY built properties. This area has a LOT of muslims, it has its own mosque just down the road that is jam packed. I think this area has been somewhat segregated into a community. I am not being racist here btw. I can said HAND ON HEART I would walk through Toxteth at 2-3am and not feel scared. It has a GREAT community spirit but it is still tarnish because of the RIOTS (1982). The postcode L8 means 'high risk' insurances etc and it is somewhat alienated because of it. Also, the chances of Asylum seekers living in your locale are VERY high. The point is, there is nothing wrong with TOXTETH, nor its community. Its just NOT a marketable area for most. That large house (admittedly needed work but mainly structurally sound) for £60-70K? Shows what the housing market is like in that area. The interesting fact (I say that loosely) was the guy from Liverpool Housing Trust. "There are more houses than people in Liverpool". Hmmm I keep getting told there is a shortage of properties in Liverpool!
  4. I have sent a complain to the ASA about this advert for a company (cant name for slanderous reasons). http://www.woolworths.co.uk/ww_p2/product/...ml?pid=50482892 My opinion is the fact it says SAVE £500 on a Celeron made by Medion which are renowned to being cheap PC's but you get a LOT for your buck. This is a similar example (Cybermaxx is a MEDION/TRU BRAND) http://www.toysrus.co.uk/Product.aspx/TruH...sDesktop/810665 No talk here of save £500 but look at the spec it is better in every way Double the HD Double the Memory (DUAL PAIRED) 17" TFT instead of 15" Faster and newer processor. SAVE £500 on the Woolworths one? You decide????
  5. Most of what you say is sensible but there are flaws. Firstly you say that the average take home will be £1,1769. I make that £28,800 p.a. - I know there are more parts of the country get nowhere near that average salary. So house prices should be in ratio like the were years ago. Now I have seen houses down south cheaper than they are in Liverpool, and better! We cant really use an average in real terms. One of the reasons the market is phucked is because there is no 'bottom rung'. We cant have an abundance of £162,693 properties. In my local rag ther are 2 houses under £100K the other 50 or so are higher. so 2%!!!!!! A lot of people cannot even borrow over £100K. If they can its over 30 years at an insane rate. Your point of £134,087 on mortgage at £790 per month which would be manageable by all but the lowest earners. I am sorry but I dont know your locale but that is unaffordable to the majority imho. What happens if the interest rate goes up 2%? YOu would be buggered. This can happen because of the economics state. Look at the stockmarket today!!! THE MARKETS 22:10 UK FTSE 100 5427.8 -66.60 Dax 5069.4 -68.60 Cac 40 4594.1 -56.13 Dow Jones 10317.4 -123.75 Nasdaq 2103.0 -36.34 S&P 500 1196.4 -18.08 BBC Global 30 5470.4 -70.22 Thousands of people have just changed from fixed rates mortgages at 3.5% to 5.5% - rise of about 30% on their mortgage repayment. Thats gotta hurt with such a large debt burden? I think you sum it up correctly though - my target is as follows. I am hoping to buy next year - by May myself and partner should have £30K+ savings. I will buy a house for £130K and get mortgage at 3.5 x Me + 1 x Her. Mortgage of about £106,000. We can afford this faily easily but we have to factor at least 2% interest rate rises. Then it gets tight. The other issues are inflation is quite low so your wages are not catching up with all the rises in utility bills. Factor those in too. I know where Im going, but whatever I can afford and am comfortable with I am not the average buyer. I cannot afford £162K! The houses need to drop to what all people can afford. 0-60K 60-100K 100-150K 150-250K 250-500K 500K - 1M I am confident it will drop 10% OFF last sold price, or peak price. In 12 months. My problem is the ******* EA's still pricing 30-40% about last sold!! They are getting found out and when that happens the difference between the highest askiing price to the sold price CAN and WILL be 40-50%. NEVER SAY NEVER Not even 'BULLY' of Bullseye is that confident. We will not get a sellers market for some time. We will get prices dropping in full percents 1,2,3,4,5% It will start at overnight 5% - if the market dont respond which it HASNT then another 3% comes off. In the press if the number of houses sold goes from 6 per agent in a month to 10per month they will say markets booming - Sales up 60%!!!!! And try to stall prices. But the market will dictate it - they can ask more - they wont get it!!!! Once its well know that property is falling all the time it will be hard to stop it and almost impossible to get rises. Bear in mind you are selling a depreciating asset. Whether the EA's talks it up of not - its a falling stock so NO INVESTORS. Also you would want to factor the fact its falling and offer UNDER the asking price by what you feel is a sustainable amount if IR shoot through the roof and you cannot afford the payment. MY structure is last sold minus monthly drops since that point. So lets say atm Hometrack say its on target for -5% yoY. Minus 2-10%. If they dont like it - there are SHITLOADS of houses for sale and the longer they leave it the more their asset depreciates.
  6. But when should I get my mortgage? http://www.googlefight.com/index.php?lang=...tion+Going+Down you decide Tides are turning http://www.googlefight.com/index.php?lang=...lls&word2=Bears Whats the market conditions? http://www.googlefight.com/index.php?lang=...=Sellers+Market I love this web site
  7. My answer is other. I would either do a: Buy land and build my own home - everything to spec. wiring thoughout the walls with a sound system, plasmas, every channel under the sun (even dodgy german soft porn ) and make a techno house. It would be tastefully done. or b: Look at all the high priced properties (600K) and tease them like the YES/NO interlude on open the box. Ill give you £350,000 cash (have the cash there) or open the box? The price in the box could be £1m or £1,000 and see it they would take the risk. Anyway I would only offer then £500,000 and if they want to continue i take blocks of £50K OFF. I would and I am being sincere. Pay for printing and adverts on TV to OUT the EA's with their *****y prices. Would not make money but would love to see these bastards stung. Yes they have more money than me but I need to convince the public not the establishment! I would also buy a few holiday homes but in places like Austria/Switzerland etc. Beautiful countries.!
  8. Hee MOve in a wait for the market to pick up!!!! REPOSSESSION, REPOSSESSION, REPOSSESSION!!! Telly dont get better than this - Well done CH4!
  9. IM IN HEAVEN - WHAT A PAIR OF BELLENDS!!!!! ROFLMAO - He we just need a few more of these - bet it dont sell!!!
  10. Must say that Sarah Beeny has a cracking set of TOP B0LL0CKS !!! ORIGINAL ARTWORK!!!!! FFS THEY PAINTED A RECTANGLE AREA!!! Im in shock!!!
  11. What a weird UGLY ******* that guy is! He just heard someones financing the project on their CC - Assholes!!!! Libitina - Your VERY NAUGHTY! This is compulsive watching - this is gonna go TITS UP big style!!!! MY GOD THAT BATHROOM SUITE £1k per item - Looks like it could be made with MDF!!!
  12. Depends what you want the money for. I bought a car brand new for £8,400 (RENAULT CLIO). Got 2k for my car which left £6,400. I then said to the seller "I will buy this car now, but I want 0% finance" "It's not available on this car - just the ones where there is a sticker" "I said fine, I'll go and get a Saxo then -they will offer me 0% finance" "OK Ill see what I can do?" "Whatever", I said. He then came out and said OK but you need to put 50% down on pickup. I didnt have the £3,200 so I borrowed £3,200 from Cahoot at 5.4% I think. I paid the garage. The remaining £3,200 to Renault was 0% I then paid back cahoot at 5.4 on just £3,200. Total cost for credit was £342. I will finish paying for it in 2 years (this October). Admittedly I am paying 2 people at the same time but I have made my money work for me. I could have went with Renault finance and on £6,400 with 14% A.P.R. it was something like £1,300 over 3 years. MORAL OF THE STORY? If you dont ask - you dont get. If its to pay another debt off - Dont rob Peter to pay Paul if you have the cash.
  13. Is it me or that a silly price. I would not pay over £100K for that - it looks shyte!
  14. The definition of classic comedy is when you laugh when you already know the punchline. Barkehh! done this. The news section at the end of their show has jokes that are still told today. A true genius that contributed so much joy to millions. God Bless Ronnie Barker
  15. Since when was wage inflation 4.2%? We got 3% this year based on inflation beig 2%. Print trade generally offers ABOVE the inflation rate to stop all the hassle. I have also found the asking price to selling price in my area a LOT more than 7%. The asking prices are overinflated to take into account you will offer 7% less!
  16. I too am living with parents - renting the front room and a bedroom off them. I have my own phone, bills, sky etc. Dont take the piss - especially R_F_D! it make economically sense at the moment. The fact that you are only saving £300 from approx £1700 take home tells me you have a lot more debt that you are telling us? You also dont tell us whether you are involved with someone and purchasing the house on your own or with a partner? If it's on your own I'm afraid you really need to be saving more than £300 p.c.m. If you do have other debts that are charging monthly interest - stop saving that £300 and pay off all you debts. This will not only help when getting the mortgage, but when debt free you can save £600pcm. If this is the case, stay at home - pay off ALL your debts whilst saving a deposit. This way you are also helping your mum out too. Depends on how much you want to move out. The prices are dropping so it would be silly to rush. I would set yourself a timetable of 2 years more with your mum and save more. By the time you come to buy if you saved hard enough you could get £10 to £14K plus your insurance payout. This would be a great deposit and the house price will come down too. The bigger the deposit you have the better LTV and the better then interest rate. I personally have BASIC income of £1500 (I do get ovvies tho). And I have £221 for personal load (26 months left) and £181 for car (2 months left) approx £400 - Rent is 180pcm - Petrol £70pcm and leisure £45 then take away running costs - dinners etc in work. I then save £750 a month. If i get ovvies ALL that money goes to savings. Some months I have saved £2k but mostly its £1000>£1500. The reason why I can do is I have disciplined myself to do without (For the time being). Good Luck in all you do.
  17. Just reading the daily blog there and seen this article. Inflations well above 2% is oil gonna drop to 60$ a barrel - DONT THINK SO!!! Mercer said its research suggested that salary increases globally were expected to be higher next year. Yeah in China!!! We are expecting 2% and inflation is about 2.6% I think - would not call that "stable inflation" Mr Cornish pointed out that although many eastern European countries had experienced high wage inflation since joining the European Union, their labour costs were still "extremely competitive". So why pay me more money to do my job when you can send it to India for half the price? Does that not mean that inflation is expected to be higher? I know my boss would NOT pay me 3.5% pay rise if inflation is only 2% as they suggest . What a pile of shyte!!! How would the MPC react to this (if true) raise or lower interest rates? and by how much? I think its trying to give a feelgood factor (scam) to make people feel richer so they will borrow more money? thoughts anyone?
  18. Whilst the other third said "HOW MUCH - ****** THAT FOR A GAME OF SOLDIERS!"
  19. Think we could build an MFI house with all the liquidated stock? Could build a house interior for less than a tenner! Cool, things are looking up! Ooops... just remembered there will be no where to return it IF it all falls apart.
  20. Absolutely SPOT ON! Anyone who saw Repossession, Repossession, Repossession on 'Tonight with Trevor McDonald' will know that a lot people have been stupid! One couple MED'd to pay off debts. They didnt actually pay off the debts - they bought a car, went on holiday etc and suddenly found that their Mortgage went up! - The cheek of it, I thought it was FREE? On top of that they still had to repay the debts that they MEW'd for. I have no sympathy for stupidity. There is a simple rule in life that I was taught at about 4 years old. YOU GET NOTHING.. FOR NOTHING! Stupid people your day of reckoning has come but I'm buggered if I want to see houses remain high to protect these knobs! They have made their bed - now sleep in it (if its not been reposessed that is ). The sensible people who have refused to join this scam - we will reap our rewards, admittedly at the expense of others but we have suffered at the expense of others too - PAYBACK TIME!!!! MOVE ALONG...MOVE ALONG..... NEXT RIDE..........
  21. Ive just been mentally raped - yer *******!!!
  22. I think this site has been brought to peoples attention more in the last few months, this is sign that sentiment is changing which is great. There should be adverts though the number of people coming here! Lets think of some apt adverts What about ..... BETFAIR.COM Could have spread betting on * Numbers Unemployed this month * EA's closing this month * Houses coming onto market in ratio to those coming off * Offers accepted and then them pulling out * Number of repossessions * Number of MEW's (should be feck all but there are some STUPID people out there!) * Number of times an EA says "what crash?" * Number of Estate Agents coming out of denial (same as MEWs) * Number of BTL's declaring themselves bankrupt * Number of renters becoming home owners there is great GROWTH petential!
  23. hmmm... does help when put a link to it. It could be a random advert that may be the resposibility of a 3rd party. Post a link please
  24. I just hate it when an offer is called 'silly'. Todays house prices are SILLY - An offer is just that - AN OFFER. Can see ebay having a page when you put in your bid saying "£50.01 for a plasma TV. Now thats being silly! Go to your room!"
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