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House Price Crash Forum


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Everything posted by TheEmperorHasNoClothes

  1. Just watch the big short. Take away: Sub-prime Collateralized debt obligations is like bad sushi soup. But an AAA rated one.

  2. I live in Sydney now. Have done for 5 years with young family. Purchased a house in 2012 so I can live the landlord-free lifestyle and despite all the extra work involved in maintaining it, I do like owning over renting. However having a family plays a big part in that desire. I like living here. There are good opportunities for IT workers although pay would be better in London. I like the climate and the people we have met are friendly. Seems a bit more laid back here. I don't like the driving attitude, it is almost impossible to be let into another lane without forcing your way in. At least when I left the UK driving seemed more polite. The trains are slow but probably as a result much more reliable. The other day a train was 10 minutes late and I was shocked. It rarely happens here. I am talking about local trains, have no idea about the inter-city ones. Less of a drinking culture. I.e. if you say no to having an alcoholic drink it wont bet met with 'whats wrong with you' or 'come aaaaan', which I think is a positive. It is silly the drinking culture in the UK and especially the pressure to get drunk. Would recommend Sydney for raising a family. Especially at the younger age with the good weather and the outdoor things to do. At university age I think the choices are better in the UK though but there are some decent technology universities in Sydney. It feels more multicultural here than in the UK although maybe comparable to London. The places I have worked have had people from all over the world and it seems every ethnicity has a presence here so I really like that now that I am used to it. However perhaps that is more of a city vs. country town thing than a UK/Australia thing.
  3. Yes it will be ironic if Germans are the winners - they seem to have the much more sensible housing market. Emmigrate to Germany - you can afford to live and your country wins the world cup
  4. I might slowly buy in, but I consider the money I bet the same as the money I bet on England to beat Germany. Err. whats the word ... disposable!
  5. Yes I am in awe of the expert Analysis on that site:
  6. I can now imagine some wildlife documentary following humans closely talking about the different methods used by the different parasites
  7. What has it got to do with fashion? It's a cool gadget for less than the price of a week's living costs in London.
  8. Lol that is hilarious! I'm sure they got bigger discounts on that programme during the boom! Makes you wonder if it is just a pure propaganda programme run by various VI's behind the scenes - e.g. banks, property investment companies
  9. Has the UK collectively become the ultimate "spoiled child" who rebels against it's parent when it can no longer provide the toys, goodies and easy money it has gotten so used to?
  10. Is there a way you could be on your prediction? You could have made some money from that?
  11. This is what I don't understand about London. You can buy a 2-bed flat in some areas for £250k. Then when you increase the top price to £400k what do you get? Bigger flats? Better Decor? More Rooms? No... just pretty much the same stuff but some people asking more for it. I don't get it!
  12. Move to Slovakia then ... a flat can be a pension* * (that's what they call a guesthouse)
  13. Could this be the next off balance-sheet liability time-bomb for the government. Do they know the true cost of paying those extra pensions when men turn into women? Is it time to add testosterone to the water?
  14. Interesting, would assets sky rocket, or money supply collapse? Or would we literally be running the printing presses to keep up demand. £100,000 note anyone?
  15. Yes, if you continue to rent them out at South-East prices as suggested in the advert.
  16. Yes you are right - I've never read up on that bubble before. By today's standards that bubble looks trivial and fairly cute!
  17. Well you can't get a slavebox like that in London for £250,000
  18. Yes but in Thailand you can eat out for lunch and get a hearty meal and drink for £2 all in. It would cost you £10 here. Housing is a lot cheaper too. But here are so many differences living in Thailand vs. UK that it isn't really worth comparing. Perhaps Australia or US vs UK would be a better comparison. And £2.77 14 years ago = £9/hr today, if you use HPI as your inflation measure £13k a year you could afford to buy a flat in 1996 where I went to school. Now I guess you'd need £40k+
  19. In my book, "pent up demand" means people who would buy at a slightly lower price Problem is if prices fall, then they may wait until they have bottomed out (or mortgage is a lot less than renting) in which case prices have a long way to fall before the pent up demand translates into actual demand.
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