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House Price Crash Forum

Wurzel Of Highbridge

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Everything posted by Wurzel Of Highbridge

  1. Since the prices are based on the amount of credit banks are willing to issue, I guess credit is contracting? Will be interesting looking at the BOE quarterly.
  2. The issue stems from Universal Credit taking the unemployable classes housing (landlords) benefit away
  3. I just come back from NZ, it makes the UK look cheap. Even in st sticks it's expensive!
  4. Ye Yes,t hey exists and now the salary is about £50k tops (outside London) and 3% or less pension contribution
  5. If you get the chance to visit Majestic Wines in Calais is quite good IMO. Nice good quality wines in there.
  6. I had to remortgage (second mortgage) to buy the ex-wife out. First direct were pushing me to take out interest only so I could borrow more as it would be more affordable.
  7. Yeah, not much demand for Surf Scientists or Geology students in this banana republic
  8. If we leave the EU, then bang goes mortgage regulation and house prices will be driven up further by loose credit until we are Ireland mkII.
  9. I had the same issue when we bought our house. It about 3.5 miles from the exchange, so that means no ADSL - well actually we could get a very unstable 0.25mbps Luckily I had been doing my research prior to buying and found that the fibre optic line and box had been installed and activated. By the time we moved in fibre was available and we now get 25mb/s. The only issue was having to wait about a month for a connection to become available in the box as the box was full to capacity / sold out after a day.
  10. Not sure if i'm quite right, but if housing costs reduce then the banking sector would have to shrink. So it's then a fight between cheap Chinese goods, banking and taxes.
  11. Banks are in competition, so they will compete for more business by lowering lending standards. I doubt any baks will stand by and say you know what we will scale back the mortgage lending department and write down the value of our loan books. I expect that if a recession kicks in the BOE will loosen the loan-to-income ratio limit from 4.5x income to 5.5x income, etc.. In a similar way interest rates have been lowered year after year. End result is mortgages until you die (85) and 10 x income mortgages at less than 1%. I don't wish for the above, however I fail to see an alternative under the current monetary system.
  12. You'd be an idiot to take out a two year fixed when you can get a lifetime tracker (hsbc/first direct) at 0.5%+1.49% or 1.99% overall.
  13. Likewise, paying mine off at 1.99% as fast as possible, and the house would not cost me £239,000 rather than the £209,000 we paid 12 months ago. What a difference a year makes as we wouldn't be able to afford it now.
  14. And.... How much is the land value tax on that swamp. Gift horse mouth etc... No free lunch etc...
  15. the 2nd homeowners will simply buy up the rest of the used housing stock and the ex-locals will be pushed to delightful locations like Bodmin, Roche and Redruth.
  16. You forgot interest rates and mortgage deposit requirements.
  17. Also, when you sit down and crunch the numbers for manufacturing and R&D things haven't added up in any non-financed sector for a long time. Perhaps Tannoy could have flogged everything on 20 years interest free credit. the only reason there is an auto bubble is the cheap credit, obviously Tannoy have not benefited from this.
  18. I guess Tannoy will become another crappy Chinese branded product just like Wharfedale stuff.
  19. IMO if your going to buy a house with your funds, then you need to hold it in an investment that roughly tracks housing.
  20. More info on this: Basically if you went to uni and got a crap expensive degree you can study part time in engineering essentially for free since your never going to pay the loan back. I have been thinking of doing a second degree for the fun of it via the OU. Why not?
  21. If you already have a degree, you will be paying back the loan for the rest of your life. I would encourage such people to take out even more student loans since the y will never pay it back. In the last Autumn statement U-turn Dave fiddled with the rules for funding adding: It's a get-out-of jail card for the Open University to providing them with funding form students via loans.
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