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House Price Crash Forum


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Posts posted by red

  1. We will be looking to move in 3 to 6 months time, and that is likely to be a change of area so mrs tb is reluctant to buy, then we'd be stuck for another 6 months. So although tempted to buy soon, I might be held back for my good:)

    We're expecting our first child any day now - Mrs Red very, very keen to get a place of our own. Had enough of renting. It looks like we'll be buying into the slide sometime next year. Frustrating as I was prepared to dig in for a couple more years. Hey ho.

    Though encouraged by RM stats, there's simply not enough on the market here in London N2 - asking prices remain stubbornly high and very little is selling.

    With little hope of IRs rising in next 6 months, we're hoping catalyst for further, more pronounced falls will come from unemployment/sentiment/forced sales...

  2. So the media will have a wet-knicker day of trumpeting price rises as 'good news' and the deluded masses will breathe a sigh of relief.

    Whilst we might cite low transaction and lending levels as reasons for these anomalies and fluctuations, the sheeple just want to hear that their precious 'investment' is rising in value. Sentiment has swung back a little towards the HPI brigade today...

  3. QE1 (in conjunction with other money printing around the world) boosted a stock market recovery and kept commodity prices high. Arguably it's responsible for turning around the previous house price crash/correction too.

    But surely the last round of QE went straight into greasing the wheels of the banking system - was the property crash arrested due to QE or simply the savage cut in IRs?

  4. Oh boy.

    LBC have been punting the fact that London prices are still holding/rising.

    Interview with 'expert' saying it's all to do with mortgage availability...deposits...first time buyers haven't got a chance as they can't get a mortgage...


    I have emailed saying it's to all do with HIGH PRICES. Listening to see if it is read out - I usually get read out... ;)

  5. BBC News 8AM.

    No guest from Nationwide.

    No mention in the headlines.

    House prices can`t be falling, surely the BEEB would report it ? They always report increases, so prices must be staying the same.

    They're 'stagnating', doncha know. A sort of 'plateau'...levelling off. Broadly flat. Easing. Cooling.

    But definitely NOT falling. No.


  6. What is sorted? Do you really believe that there will be a major crash so that prices come back to normal level soon? Is it not more likely that there will be a slow and painful correction in real terms with nominal prices rising but not as fast as wages for a decade or so.Who benefits from that?

    Ah...depends on whether you believe wages will in fact rise. I can't see wage inflation to mask nominal price falls for a good few years.

  7. The Bank also reports a disturbing rise in the volume of bad loans being written off by lenders – £3.2bn of loans to individuals went bad in the second quarter of this year, a record high, and a much worse rate of delinquency than for companies.

    And with prices falling, it's little wonder that mortgage lending criteria will remain sensible...

  8. I find it amazing, given all the country has been through in the last three years, and all the economic truths that have slowly become mainstream - that people can still think that this website is populated by evil people who are trying to talk the property market into crashing so that we can all buy up all the properties as cut-priced BTL's to make obsecene profits.

    OK, I'm going to play devil's advocate a bit here...

    I don't have a problem with the idea of property speculation - it's the blatant intervention to keep the bubble going that I find abhorrent.

    If people want to gamble on prices rising and they win, fine. But if prices dip they should deal with the consequences - not be bailed out because HPI has become the bedrock of our economy and can't be allowed to fall.

  9. You know, I think the name of this forum/site is really bad PR. A "crash" is usually a bad bad thing, associated with accidents, injures, pain and even death! Someone should think of a positive name for it, that would associate with affordable housing somehow, with lower costs of living, or better housing, etc.

    It won't stop people labelling us all as work-shy doom-mongers and bitter STRs...etc.

    We question the brainwashed British ideal of ever-rising house prices and they don't like it.

    The post by 'PG' on Boulger's site sums it up perfectly - he tries to lump us all in that category but fails to address the perfectly intelligent questions posed to Boulger and his Boulgette, Drew Wotherspoon.

  10. I am loving Laura - like a dog refusing to let go of a particularly tasty Boulger-shaped bone.

    I presume it's our Laura..?

    I'm sorry but that is a very lame excuse. I have listed the main points already. Why don't you try to reply to these, if you can, and we go from there?

    "I hope you are aware that we had a credit bubble, that pushed up assets prices. These are still near peak levels, and are unsustainable. You must know that.

    Yes, the government "implores the banks to lend more", but for businesses, not mortgages, and I think your article is disingenuous by implying otherwise.

    To improve "affordability", first we need much lower prices, and only then we can have easier credit.

    Our economy was not exactly driven by the "housing market", but by the cheap credit that it brought to consumers, who are now over-indebted. This "route" had a dead end, and we've reached it."

  11. I see 'Laura' has had a pop, too...

    Also, within his droning blog:

    ...even when a FTB has managed to save a 10% deposit and get approved for a 90% LTV mortgage they will pay more for a 5 year fix today than pre credit crunch. Furthermore they will not have the option of an interest only mortgage, with or without a robust repayment plan, as no lender is now offering this option at 90% LTV. One benefit FTBs do have as a result of the credit crunch, provided they can save the deposit and get a mortgage, will be that property prices are lower, but this is of no value if they can’t get a mortgage!

    So better to lend silly money again and re-inflate the bubble rather than allow prices to return to sensible levels, meaning mortgages will be affordable and accessible with current criteria in place. Or am I missing something..?

  12. Having got my goat with those earlier comments I'd though I'd do a little more digging on the self-confessed property "guru"

    Check this out from the John Charcol website:

    "Ray Boulger is widely renowned as the guru of the mortgage industry and expert on the housing market. Ray is constantly called upon by the media to provide informed comment on all areas of the market, and is a regular on the BBC, Sky and ITV.

    Last year, Ray was voted guru of the year at the Headlinemoney awards by all of the nation’s money and property journalists. As such, we thought it was high time that you had direct access to him. Ray’s blog will be updated most days so the knowledge just keeps on coming"

    I for one will be looking forward to all that "knowledge" and will definitely be sharing my lack thereof with him on his blog!


    Go for it:


    It's possibly the dullest blog I've ever read. Ever.

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