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House Price Crash Forum


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Everything posted by red

  1. Heh - I actually know a few people like this, living in huge family homes petrified that if they sell up and downsize they'll miss out on another boom in prices. Also, what do they do with the profit? The average pensioner isn't going to want to risk their 'hard-earned' property cash in stocks etc. and there's bugger-all return on cash investment... Oh, hang on - they can give the cash to their grandchildren to help them 'up the property ladder'.
  2. Ah bugger, they didn't bring me in - just sat on the phone listening to Jeremy Leaf.
  3. yup - and the assumption that prices will rise over the next 10-20 years to pay off the debt, like the 70s, is simply laughable.
  4. Agreed - but nobody forced him or other like him to take out these deals. It's the age-old argument of regulation versus free market and choice. On one hand, we, the customers, have the opportunity to make investment choices and to enjoy the benefits (assuming it works in our favour) if we calculate the risks, do the maths and make a rational, educated decision... Trouble is, when it goes wrong, everyone cries for more regulation and condemns the lenders for their excessive lending and lax criteria.
  5. 65 year old guy just realised that he can't repay on his IO mortgage. Said he just wanted a roof over his head... The financial naivety of this property-obsessed nation is staggering. And sad.
  6. And now they're suggesting he must be mad not to be leaping at the chance to buy...
  7. Heh - I can just see it: 34DD Cindy, 21 from Colchester says: "I think it's terrible that the bank are thinking about printing more funny money to prop up our zombie economy."
  8. Anyone watching? It's excruciating. An orange-tanned Phil and an ever-frumpy looking Krusty... Krusty classics so far: "Plumped cushions sell houses" "We're all concerned about falling house prices but renting is not an investment..." Phil: "He might be saving a bigger deposit but while he's renting he's paying off his landlord's mortgage" Krusty: "I have convinced him that he should be buying, not renting" Krusty: "Aaargh! Here's my dead body. Climb over it."
  9. We had a chance to re-structure 'the system' and didn't take it. The banks are effectively being rewarded for their irresponsible behaviour by cleaning up on lending at 3-4% above base., whilst offering savers feck all. And we (Jo Public) have accepted it with barely a whimper. It'll be interesting to see what happens when rates eventually rise, whether or not the banks can still get away with their current margins... "The average SVR is now 3.48% above the base rate, compared with 1.95% in September 2008." http://www.propertycommunity.com/property-in-the-uk/uk-lenders-continue-to-let-down-property-buyers.html
  10. The 'cheaper' flats are cheap for a reason - they're not in the 'nice' bit of N2. Anywhere within 10 mins walk to the tube is still ludicrously priced.
  11. As I've said many times, London N2 is proving extraordinarily resilient to the point that we've seen 20%+ increases in 3 bed semis over the past two years. Influx of 'moneyed' people from neighbouring areas (who can't quite afford Hampstead) seem to be pushing prices up. Another bubble, perhaps, but it's a pain for me and my family who have lived locally for 5 years and are looking to buy...
  12. Ah, but it hasn't gone UP. Therefore, Merv's vigilance is paying off.
  13. couldn't agree more. I have a house there by the beach and a plot of land on the mountainside, ready to build my 'dream' home on. All bought for less than the price of a 1 bed flat in zone 2 London. Go figure.
  14. http://www.angloirishbank.co.im/Personal_Savings/Existing_Customers/Check_Interest_Rates/
  15. flat around the corner - FIVE different agents in past 4 months. Same asking price.
  16. One idiot agent I spoke to recently said "..it's dead out there, not much coming onto the market." I said: "Wouldn't a rate rise actually help you? More forced sales at lower prices meaning more transactions..." "Oh, no...a rate rise would kill the market." he said. So he'd rather scrape by on one sale a month at ludicrously high prices and a few parasitic commissions on rentals. ANYTHING to keep the goodship HPI afloat. Prices must never fall. What a catastrophe that would be. The twunt.
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