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House Price Crash Forum

longwait

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About longwait

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    HPC Newbie
  1. Do clothes contain ink? This could prove to be a positive scare after all!
  2. Yes, I looked in to that. Doesn't always work. Councils like to see themselves as deleloper friendly. If they come down heavy on developers who hit hard times then they struggle to get investment in the future. Play Ya Cards Right!
  3. They are going to surely have to sell these properties one day. I worked out that it will be costing them quite abit per year in terms of servicing the development and council tax, but not nearly as much in the short term of taking the hit on their books. Quite sad, it's got like this, as in the long run this approach will cost them more. But then again 'masters of the universe' springs to mind
  4. We invited lots of people in from our Colonies to work in the 60's when we had a labour shortage, we told them it would be a new life...blah blah blah. We didn't say do as we do. You can't have it both ways. We are tribal, but we are also all a mixture! This recent great mixture of tribes firstly started by us and then the EU seems to always fall down when we hit hard times. People retreat into a blame game and blame tribe X. I personally don't agree with mixing tribes rapidly, though now it's been done we should respect those that are here. The story about Pakistani men picking up young white women could of applied and does apply to every section of society. Every race does bad things. I felt the stories came across that we were jealous that they had 'pure' virgins back at home. I would like to see communities less divided up North, but they do have the feeling of Northern Ireland about them, nice move politico's.
  5. If banks are only booking in half the amount of new mortgage business that they were doing before the 'crash', then how come their profits aren't too affected. Have they found 'green' as in Black Adder? I'm stumped, have they moved on from the retail market. Maybe it was only a tool, to get their honey!!
  6. The notion that house prices always go up in the long term is only a notion born of historical data since the war. We are seeing a major re-balance in our economies taking shape, my feeling is that when most house prices in countries around you are dropping, your gunna drop too. I would love to see prices rebound in the near future (after I've bought again), but that seems unlikely. A new mortgage now is a sure way to death.
  7. Chatting the other day to someone with inside knowledge of a property development on the South Coast that went tit's up. Basically developer of a large build went bust. The bank sunk the property company and brought the properties back at a high price. Weird I know. The bank now has over 70 properties on it's hands that haven't sold in 18 months, the bank will not even consider offers on dropping the price even though they are 25% overvalued to what similar properties are going for in the same development (private owned). If you multiply this situation across the country, I think we have serious market and supply manipulation going on. The question is, how long can the banks hold out, as surely mark-to-market rules will mean they have to off-load a lotta properties quickly if prices dip.
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