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House Price Crash Forum


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Everything posted by red

  1. And, crucially, without the ammo to halt the slide - no more IR cuts possible, mainly, plus the very real prospect of a D-D recession.
  2. DId you miss how quickly and by how much prices fell in 2008? Only dropping IRs to practically zero saved the market - they aren't going any lower and prices are falling again already. With the prospect of higher IRs and a double dip recession looming, do you really think anything can save the market from falling further and faster? It sure as hell won't take ten years. If it wasn't for rentals, many EAs would have folded by now...
  3. I know. It doesn't take a genius to work this out - yet they still feel it warrants an article. I suppose it goes hand in hand with all the other articles that proclaim 'we didn't see it coming' when referring to the credit crunch. That always gets me...
  4. GIve them 6 months reduced council tax before charging full whack. That'd be a start. There's no excuse for leaving properties empty - if you can't afford to do it up, sell it.
  5. Calm down, Eric. THe banks aren't suddenly going to start lending silly money again anytime soon. Their agenda re: mortgages is clear - whatever the benign FSA decide - and that's to suck in as much cash via low LTV loans as possible. Anyone without at least 20% deposit is going to be paying a premium for years to come.
  6. until we see more 'tricky situations' - around my way, at least, it's going to be a long grind downwards. Buyers are queuing for decent properties and what's frustrating is that they seem to be paying close to 2007 prices (again I can only speak for my area of N London).
  7. Spot on. Although I think your full stop key is missing...
  8. yeah, but didn't you all hear - everywhere else might 'crash' 5% but London is immune. Oh yes. http://www.thisislondon.co.uk/money/article-23899384-house-prices-in-the-capital-to-defy-expected-5-percent-uk-fall.do Hmm. A quick check and Carter Jonas have London offices in Holland Park & Notting Hill , Hyde Park & Bayswater , Mayfair & St James's , Marylebone & Regent's Park , Knightsbridge & Chelsea - all prime areas. Prime for a twatting in prices, that is.
  9. see also the thread about Ray Boulger - he was suggesting much the same on Radio 5 earlier today. Perish the thought that prices should fall.
  10. Yep. And they didn't flinch. It's acceptable now. Get on the 'ladder' at ALL costs.
  11. So we borrow ourselves up to the nuts to buy over-priced property at low IRs now, then come 2015 when base rates shoot up to 4% we just pray that wage inflation has caught up to bail us out of our predicament. Oh, and more QE just to pump things up a bit more. House prices must stay high at all costs. What a twunt.
  12. Yes - see this a lot around here, also multi-agenting, when over-priced property doesn't sell. Classic denial. Akin to changing deck-chairs on the Titanic.
  13. I agree - I'm not at all naive in this regard and am well aware of all the EA bull that might come my way... however, there's no disputing the facts: anything reasonably priced around here is selling quickly - and that's at asking prices that are significantly higher than 2008 'dip' prices. I believe this is purely down to lack of supply/forced sales and a re-enforcement of the belief that prices around here won't fall, hence buyers diving in. p.s. RICS spokesman Jeremy Leaf is one of the prime (and perma-bullish) EAs in my area, so I wouldn't bother reading his comments!
  14. Someone please tell the vendors (and buyers) in North London that prices elsewhere are falling; I enquired about a property yesterday and was told by the EA it was under offer and that such properties are selling immediately if reasonably priced, although they were selling for 100K less a year or so ago. Vendors, and more annoyingly buyers, are still caught in a bubble mentality around here and it's very, very frustrating; I am more convinced I should have jumped in during the dip of 2008, particularly as I now have a little one and Mrs Red is nesting big time! Although I feel the second dip is beginning, it's going to be a slow, protracted affair - particularly with few forced sales/low IRs. So good news re: DCLG stats, but I am not a happy bear today...someone tell me to get a grip and keep the faith, please.
  15. Probably posting on the Express website telling people not to sell at silly prices in case scum like us dare to buy a property.
  16. Eh? Are you for real? An EA who actually 'gets it'? And your boss is suggesting higher IRs to generate forced sales to increase volumes? Wow. Does he/she keep this opinion to him/herself or share it with other EAs? I'm sure Peter Rollings would puke at the idea of lower prices...
  17. Dunno about you, but I'm with Stuart Hall all the way...
  18. http://www.moneyweek.com/investments/property/moneyweek-roundtable-what-next-for-property-prices-50727.aspx?utm_source=newsletter&utm_medium=email&utm_campaign=Money%2BMorning Ever-bullish Assetz muppet Stuart Law going all out for HPI over ONE YEAR: +4%, FIVE YEARS: +21.5% And get this: Class.
  19. Sadly, as I predicted, not enough forced sellers meaning the chancers are withdrawing from the market as they know they won't sell before Xmas. They'll probably re-market for the '2011 Spring bounce' with another 10% on the asking price. It's v frustrating but unless we get that catalyst to move things along, it's gonna be sticky on the way down.
  20. Lovely stuff. And what we need to see more of. Genuine forced sale.
  21. http://www.lbc.co.uk/james-obrien-3537 On the back of the news that Londoners have to find 100K to buy in the capital... Get calling/emailing, people.
  22. Hmm. And yet from LBC news this morning: Yet there will still be some morons out there who claim the answer to this is a return to looser lending criteria, not lower prices.
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