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West Bromwich Albino

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About West Bromwich Albino

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  1. "If my house suddenly drops in theoretical value from whatever it is at the moment (£300K?) to 20% less (£240K), then so what?" That's £60k, which is an amount some people have to work for ten years or more to save - but so what? Sentiment will play a big part and the fact repossessions will accelerate when the tide turns will mean there will be houses to buy.
  2. Has anyone got access to graphs/stats showing historical residential land prices? I can't seem to find anything concrete on the web. I'm pretty sure they follow the house price boom/busts in the past...
  3. When people talk about wage multiples and house price affordability (eg 3.5 times salary, 2.5 imes joint salary), is this for the full house price or just the amount borrowed? I'd like to use this multiple when deciding if a house is priced correctly, but as houses vary greatly, which should you use as a guide? For example - if the multiple is 3.5 times salary and using the full price, I'd be buying somewhere worth around £90,000. If this means waiting for terraced houses to drop to this figure, what are people waiting for who earn less than myself!? Let's say you earn £15,000 - You're looking at £52,000 - what will you get for that in the future even if prices do drop? I'm getting confused.
  4. Problem... reaction... solution. To reach a desired end (eg: Wanting to implement ID cards).. - Create a problem = Terrorism - Get a reaction = 'What are the government going to do about all these Terrorists?' - Solution : Id cards will stop it. Expect an act of terrorism soon to 'reiterate' how badly we need ID cards.
  5. I normally post in the housing forum, but found this (on another site) and out of interest wondered what economic followers make of it. (ieL is it likely?) Thanks in advance.
  6. I believe he says it will start in 2007 and end (trough) 2010. This being the end of an 18 year cycle starting in 1992, with the peak in 2001.
  7. I know a few posters have read this book - I have now done so myself and was wondering people's thoughts on the possibility of it all crashing down around our ears 2007 - 2010 as Fred Harrison proposes? The theories make sense to me and seem to be following the course, but is anyone (else!) pinning their hopes on this occurence?
  8. A quick question: When prices do start droppping when will everyone know when to buy and surely if there are mobs of us with savings ready to purchase when the time IS right, won't this create competition, pushing prices up?
  9. If the wing sheared off on impact to the ground, how come there are no marks what-so-ever on the lawn leading up to the Pentagon? And how come there is no debris outside... and how come... blah blah blah
  10. We've only been renting for just over a year - before that we were both at parents. In my opinion, we are the of the generation who graduated when the prices were low (ish) and had more important things to worry about, such as finding a stable job which pays more than three pounds and a pickled egg a week. We've been working since 2000, but the increases have simply outstripped our wages making it impossible for us to buy. Obviously this is my opinion. If I went with her view I'd have a 100% mortgage on a £220k three bed new build, but without the luxury of living in it as I'd be hospitalised through stress.
  11. This is my first post on HPC, but I've been following the whole thing with great interest for the last 5 years. My main incentive for positing is to ask advice on how to convince my other half that a severe reduction of house prices is about to take place (albeit possibly over the next two years)? She perusaded me to see a mortgage advisor a few months back who informed us we could look for a house around the £150 - £170k mark, which in the are we currently rent would get us a two bed terrace. I hoped the IMA visit might bring her down to earth, but it has the opposite effect. We rent a lovely place and have been happy for over a year, but our friends have made the jump, some very recently and have taken out mortgages for upto £180k. I know deep down that this doesn't add up and am starting to bore the mrs with predictions of a house price crash etc. What are the killer facts/points I can tell her before she runs off putting offers in behind my back!? Thanks in advance.
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