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House Price Crash Forum

ohreally

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About ohreally

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    HPC Poster
  1. Yeah who'd of thought FLS,QE,cheap money,historically low interest rates,htb,mortgage forbearance,lack of housebuilding would lead to increasing house prices :lol Not to forget an improving economic outlook with falling unemployment & mortgage approvals increasing. Now who,s more stupid? People who have bought & profited from resurgent house prices or you who has failed to see this coming?? Put up your 'real' house price graph & state FACT,always amuses me. One real problem with your graph,wages!! Prices are too high & they,ll increase further due to above reasons.
  2. Yes it inc renters. Quote 'Northampton is 60th in UK with 1022 mortgage & landlord possession claims in 12 months'. It's low!
  3. With the economy in 'dire straits',living standards being pummeled,low wage rises. THAT'S A LOW FIGURE....
  4. I'm in the process of removing a chimney stack,2 internal walls & the whole ground floor external wall of a house,13.5m long to open out into new extension. Steels should be used to support weight of remaining stack,not 4"x2" timbers. If you call round build regs,they'll ask to see structural engineer calculations. If you're in doubt pay to get a structural engineer in to assess.
  5. Yep,pointed this out a few days ago,peak of market boe base rate 5.75% in 2007 & still hpi occuring. 95% ltv mortgages are appearing again,it'd take boe base rate of 6>8% to crash the market. Those that think 1>2% boe base rate will cause hpc crash,are kidding themselves. Forget transactions getting back to peak volumes,it'll never happen again,the housing market[hpi] can survive on low transactions as is being proved now with rising prices.
  6. No gov props in 2007 at peak,boe interest rate was, jan 2007 5.25% july 2007 5.75% dec 2007 5.5% & still hpi was occuring.
  7. Pure comedy gold! HTB1 was only applicable to new builds. HTB2 is applicable for existing stock. You will be surprised the land reg figures for england & wales will be up significantly by the end of the year,because it involves existing stock! Give peeps easier credit & they'll take it,their only concerned about their monthly payments. In previous thread,nah i don't work or own Foxtons but my lively hood does depend on property,both in UK & abroad. Forget peak transactions at peak,they'll never return in UK. I'm not saying the market won't decline in UK,it has to, the question is when? when i joined this forum,i mentioned i was 'dealing in london' property' & was derided for saying 80% of prospective purchasers we,re foreign namely Russian or Chinese.Now there's threads years later about foreigners taking over prime parts of London,well stone me! Don't get me wrong i want a price correction,but with cheap,easier credit the HPC will be postponed to who knows when? Correct me if i'm wrong but aren't Halifax & Nationwide figures based on mortgage transaction £'s rather than actual sold price £'s aka the land reg data. Other irrelevant points on this forum,nope the euro's not devalued against GBP since it's introduction.[i still have savings in euro & have not panicked into shifting into GBP] Even in London[south Wallington] buying wisely at auction you can still achieve a decent rental yield as a btl scum lord. £120k can buy a 2 bed maisonette free hold with rear garden & parking,but needs a refurb. Spend £10k on refurb,solicitors,auction fees etc,do most of work yourself =£130k total outlay. £130k total outlay,annual income £12,000 plus = over 9% return pa,better than a bank account. Feel free to ridicule my points,post not relevant blah,blah. What you want & what you get are entirely different. Cheerio.
  8. Tbh we don't know if there will be a lot of takers for HTB yet,HTB 2 has only just been brought forward from next year,this can be used for existing housing stock,not just new builds. We do know 1st time buyer nos are increasing which will 'lubricate' the housing chain. It's worth remembering during the last boom the BOE base rate was July 2007 5.75% & Dec 2007 5.50%,way,way above the 0.5% rate today. Though i will concede living standards have taken a beating since then,fuel,food all up,wages stagnant. I really do believe house prices at 3>4 times average salary will not return & we won't see the transaction volumes aka the last boom ever again. I agree the interest rates on HTB are too steep,but unfortunately they'll be enough peeps to take it amidst all the market hype. Market sentiment,a significant driver of HPI is filtering through to the 'general public'. Would i buy now,no i would'nt unless i could negotiate 15%>20% off the asking price. But i can understand others who may want to buy now,low rates,gov help,blah,blah!
  9. The markets rising so of course it's time to sell. It amazes me on this forum with QE,FLS,HTB,mortgage forbearance,historically cheap interest rates that you think a crash is always just around the corner. Economy is showing some resurgence,barring eurozone collapse you won't get a crash until rates rise significantly. Cheap credit = A lot of takers,houses are over valued compared to wages,but peeps only care about their monthly repayments. A lot of 'knee jerkers' on here,a thread on Cyprus bringing down the entire eurozone made me fall off my chair in uncontrollable fits of hysterical laughter! Only chance of a price decline is events outside of UK,the UK gov is hell bent on preventing a collapse & will probably extend HTB too. Your graph showing real house price decline is meaningless unless real wages have increased significantly which they have,nt.
  10. Maybe,or it could be, Ultra-low yields suggest London property rent rises around the corner.
  11. Maybe time to shift savings out of the bank & into construction company shares?
  12. Hmm,my take. There will be enough takers of this scheme for sellers to raise their prices. HPC over, barring eurozone collapse & will have to wait until this scheme expires & interest rates rise. Then there could be a real crash.
  13. There's another prop you've listed,banks not selling repo's.
  14. Sounds like your panicking. You've just listed the prop's to stabilise or maybe increase HPI. FLS,1.5% mortgages on the way. Derisory interest rates on savings. Credit has never been so affordable ever. BOE will keep interest rates low for forseable future. Rents have risen steadily which makes home ownership seem more affordable. Greece collapsed,Cyprus collapsed,banks collapsed 2008,Iceland collapsed & still house prices have'nt collapsed. Add to above far too few new houses have been built for years,so just where do you see 'this collapse' coming from? Would it not of happened by now? Yes houses are over priced to earnings,but the masses are still buying them,FLS will take time to work through & the 'sheeple' will take what they can get. If London 'blows' rest of UK will fall harder,but in south east where i'm looking houses are selling in excess of their '2007' peak & at a much quicker rate than they were. Unemployment is always the first casualty when entering recession & always the last to recover when exiting recession.
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