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House Price Crash Forum

Bubble Pop Electric

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Everything posted by Bubble Pop Electric

  1. GCSE's, RSA1 in computer literacy (very useful), tried A-levels - but got so bored of them, didn't finish them. Also figured i only wanted to go to uni for the sOcial life - and not the learning. Was even more put off doing degree, by the fact that every job i worked in had people doing the same as me who had degrees and were earning the same (BUT MORE DEBT!). My family were all teachers - my dad had a nervous breakdown from the conditions he was under in teaching - and i know of plenty of other teachers whose health was affected in a similar way. My mum - also a teacher has quite disliked the two jobs she's been in. EDUCATION CAN SERIOUSLY DAMAGE YOUR HEALTH (and bank balance)! Okay - maybe it's not all bad. Anyway my husband who also uses this username has a HNC in electical engineering - which has stood him in good stead - so i guess we're half educated! My sisters both have degrees - but aren't in jobs that need degrees, and aren't happier.
  2. I have always holidayed in the british Isles, and always intend to. I figure i love traveling round all these fantastic places we have here so much - i haven't the slightest intention of going abroad (did a couple of times on school trips). Luckily my husband feels the same - he travels abroad a lot for work, but isn't keen on going abroad on holiday. I can't understand the hype. Okay you can get cheap holidays - but many people i know who go abroad think nothing of spending 2/3k - and think it's a neccessity. The places here are too beautiful ironbridge/northumberland/wales to name just a small few - plus i'm not keen on hot places. Many people who go on holiday abroad - know absolutely nothing about what we have here. I can't understand the hype - i just don't get what i'm missing out on (okay places like Italy look beautiful - but there's too much here to think about going there). Especially these "brits abroad" places - they sound awful.
  3. "Banking was conceived in iniquity, and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen, they will create enough deposits, to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But if you wish to remain the slaves of Bankers, and pay the cost of your own slavery, let them continue to create deposits." SIR JOSIAH STAMP, The President of the Bank of England in the 1920's I think that explains it perfectly, & he was more qualified than anyone on this site to give an informed opinion. Excellent thread BTW
  4. We converted a newly married couple who have always rented (due to moving jobs), & were looking to buy. We showed them this site & they agreed prices are way over the top, there's no way they were buying now! 2 months later they've had an offer accepted on a highly overpriced house they can barely afford between them, because they want to start a family !!!!! We tried asking them how they'll manage if she gets pregnant & has to give up work, even without interest rates increases, etc, but they just don't want to hear it. It's not like they don't care, more as if they don't want to think about how it'll affect them if (when) things do go pear shaped. They'd rather be oblivious. Quite amazing really.
  5. On the one hand the economy is supposedly booming, the housing market has allegedly broken £200K & is predicted to be set to grow yet again. On the other hand, personal debt is at an all time high, the number of bankruptcies, IVA's, etc are definitely growing at an alarming rate, and they are going to continue increasing month by month. How can you have a situation where the same society, at the same point in time, experience both prosperity in abundance, but also financial ruin in abundance? Surely it is impossible for both states to exist simultaneously, & therefore only one can be true? The bull case is based on assumptions & subjectivity, whilst the bear case is based on fact & emperical evidence. Why isn't the true state of affairs obvious to everyone?
  6. Make sure you send it to the Serious Fraud Office as well. I don't see how they could ignore it when: a) Rightmove are about to launch on the stock market. b.) Misleading the public will ruin possibly thousands of peoples lives. c) It has the potential to decimate the UK economy. Their criteria is: 1) does the value of the alleged fraud exceed £1 million? - Most Definitely! 2) is there a significant international dimension? - Screwed economy - yup! 3) is the case likely to be of widespread public concern? - Um, yahhhh! 4) does the case require highly specialised knowledge, e.g. of financial markets? - Yes-ish. 5) is there a need to use the SFO's special powers, such as Section 2 of the Criminal Justice Act? - Oh Yeah! (What is a Section 2 Notice? Under Section 2 of the Criminal Justice Act 1987, staff authorised by the Director have powers to require a person to answer questions, provide information or produce documents for the purposes of an investigation. Written notice is given when we exercise these powers. In urgent cases we may require immediate compliance with a notice. SFO investigators need to obtain information quickly and efficiently. This reduces the time taken for investigation and ultimately the speed at which an offender is brought to trial. Who receives Section 2 Notices? Many Section 2 notices are issued to banks, financial institutions, accountants and other professionals who may, in the ordinary course of their business, hold information or documents relevant to a suspected fraud. In most instances those institutions and persons owe duties of confidence to their clients. Many are willing to assist but cannot do so while such duties of confidence remain. A Section 2 notice obliges them lawfully to provide information and documents. When may these powers be used? Section 2 powers may only be used for the purposes of an investigation of a suspected offence which appears on reasonable grounds to the Director to involve serious or complex fraud and where there is good reason to do so for the purpose of investigating the affairs , or any aspect of the affairs of any person. What restrictions are there? A person may refuse to answer questions or provide information or documents if s/he has a reasonable excuse for not doing so. A person's answers to questions required under Section 2 may not be used in evidence against them at their trial unless the trial is in relation to an offence of providing misleading information during the Section 2 interview itself.)
  7. Its like I said the other day about Rightmoves ramping - its plain & simple fraud, & why the "authorities" haven't stamped it out shows their apathy to the economy & peoples welfare in general. If I started a company promising huge returns for investors, even though the numbers clearly illustrated that it wasn't true, I'd be banged up in prison for God knows how long. This seems no different to me, convincing people to part with their hard earned (or should that be easily borrowed?) cash with a tissue of lies, so that someone else benefits from it. They are the epitomy of Confidence Tricksters.
  8. "It is very, very busy with EAs and asking prices are going up.............. Now, this was a house thats been on the market over 6 months, so it wasn't a first time rush." Doesn't the above contradict itself slightly? The market busy with plenty of money sloshing around, but this house has been on the market for 6 months & hasn't sold. It can't be that good then, can it?
  9. I think that even though the bulk of it is mortgage debt & MEWing (probably), its going to be totally unserviceable for very many people. There seems to be a great deal of price increases appearing, such as council tax possibly increasing, energy costs up to 22% higher, etc. A few more economic shocks will be more than enough to send many people over the abyss, although they'll only have to wait one year now until they can resume their irresponsible spending habits again. Thats why I've invested some of my money in Debt Free Direct - there is going to be an almost never ending supply of financial muppets for the forseeable future. Thank God for New Labour !
  10. mr Mikauber springs to mind, only on a much grander scale. Its all going to end in tears, & the possibility of soup kitchens seems to be getting more likely with every passing credit card slip.
  11. All regions are now positive apparently, up over 5% since last month. What a load of b*llocks. By blatently ramping before listing they should be charged with fraud. Its just one big lie.
  12. We think maybe end of 2006 - things are struggling now. It wouldn't surprise me however, if it was still only slowing down and it hadn't happened by 2007. I'm happy to wait and watch confidently. We all want it to happen now - sometimes i forget - these things happen in very slow motion. It's only looking back that it will seem fast. It's like being pregnant - the last stage of pregnancy can feel like forever, but it's only because you're being reminded of it everyday ('cos you can't put your shoes on or see your feet or walk without waddling!)
  13. What we pay in rent now for a four bed property is £450pm. We are saving a lot of money, and it's never tight at the end of the month. When we do buy - we will have a large deposit therefore less of a mortgage. The advantages of waiting are: Cheap outgoings. Saving substancially more each month. If we'd have bought a while back when we sold we would have moved to the wrong area - therefore all the hassle of moving again. Waiting has made us certain of where we want to go to. We don't suffer negative equity. Money's never tight at the end of the month. We are completely debt free - hurray. We will have a far bigger deposit - and would have paid far less of the mortgage off. Quality of life = 100% Btw - i don't think renting is dead money if you hadn't gathered!
  14. We lived in our house for eight years when we'd lived in it for six we wanted to sell and couldn't because it was in negative equity. Only by a grand - but we couldn't afford to sell because we couldn't rely on the equity raised for a deposit, because there wasn't one - so we were stuck. We would have had to have raised the deposit again. Think how much they could come down by, and how long that could take you(you may not want children in your 30's), you need always to be in a position where it wouldn't matter if something went wrong such as splitting up (and God forbid it wouldn't). I wouldn't buy now unless i prepared to live in it for at least 10 years very minimum. Give it two years - i'll be talking differently then.
  15. What if in a few years time you want to start a family - is this a long term or short term buy? It may be very frustraiting, if you can't sell your house, if it is in negative equity - you could really regret it. You need to ask yourself if it ticks all the boxes at the right price, is it in the right area for schools. That's only based on the fact you may want children in the near future. From personal experience it is no fun knowing you are in negative equity, and cannot move to an area that would give you a far better quality of life, even though houses are affordable. If you are going to have children soon - take into account all the possibilities (apologies for droning on if you won't be having children!)
  16. I expect they're just having a bit of a clear out! You know, you suddenly realise you've got so many properties, that you just need to declutter - do a car boot sale.
  17. Yes - i can understand ceiling heating in a house (on the first floor) - but a flat - surely, that's paying upstairs' heating bill!! (Obviously a benefit if the flat above decide to sell theirs - free heating)!! (Yes - i realise it probably doesn't work quite that way!)
  18. I do think the ex-pats are a stage further - definately in anger mode, hopefully they're setting the trend. I don't mean that in a harsh way, but i just want the ball to get rolling. They're waiting - we're waiting.....
  19. The five stages of grief are: Denial Anger Bargaining Depression Acceptance So where are we at now? Who goes through the stages quicker? Sellers/ EA's/ ex-pats (i think they're definately at the anger stage) etc. Is this a better way to gauge the crash - rather than time scales? I think we've been stuck on denial for quite a bit. (sorry if this has been discussed before)
  20. When i worked in home insurance, i can remember seeing the actual cost of houses to replace them. I always remember being staggered at how much our 3 bed terrace house would cost to build compared to a new house. Which is now of even lower quality since European standard came in compared to British standard. I don't think i would ever buy a new house. Afew months ago i was at a friends house - she lives in a brand new large detatched house on a large estate, we sat round whilst her and all the other girls complained about all the faults of their houses - that alone put me off!
  21. English food can be fantastic - if you buy it from the right place, and you cook it right. When my husband - who has to quite frequently go to France (with people from all over the world) they all complain about the French food - they microwave their steaks, and their cheese is very smelly - give me English cheese anyday!
  22. Yes - it's the highly popular tourist area of Calderdale! (Only 15 mins from the M62)!
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