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House Price Crash Forum


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  1. None of you can face the facts. I started an intelligent discussion.I tried to avoid any personals. However,it has come to personal attacks and abuse. Look at the first quote: only someone who has lost both having stuffed in to the mouth will only give such an answer in this forum. Where is intelligent answers to my questions? I wonder why I bothered replying at all. Bye to all. HAPPY CHRISTMAS
  2. I have to correct you here. I did not blame anyone. My actions are/were based on my judgments and opinions. However, I am angry when people keep on chanting the same mantra over and over, inspite of being proved wrong time and time again. I would suggest, pause, think, answer with facts and not your hearts. True- prices have come down only in council house **it holes where prices were artificially increased. But the falls are meagre and not comparable to the rises!!
  3. VP That is a wrong statement. An expert is defined in the dictionary as a person with a high degree of skill in or knowledge of a certain subject. Many of these lenders, Home track, Right move etc play with property day in and day out. They are experts in my opinion, unlike people like me who write here, who are amateurs. They may have interest in prices rising, but unless some one pays, the prices would not be high. HPC is a belief at this moment of time and wishful thinking too.
  4. Yes, I am a public sector worker and earn average wages. Your impression that every private sector worker is disillusioned shows how detached you are from reality. No, I do not own property. Infact, I am a disillusioned FTB. I trusted people like you and before that Bootle etal. who were saying that property prices are going to crash. I did wait four years. Now I find that prices are sky-high. My friends who bought earlier on make fun of me. It is very mortifying. You have made me angry with your non-researched, biased opinions when facts were too remote from what you people were saying. Can you say you have not misguided any unsuspecting FTB like me? What is your justification for asserting the wrong things when they are not proven facts? What is your credibility to give your comments about property? Have you done any study or research in this field? I know that the job of the so-called ‘vested interests’ is the field of property – they do their own research before lending money etc. And can you deny that sofar they have been proved right? Even as recently as July 2004, a friend of mine bought a house in a good area near transport, schools, hospital etc for 305000- They are being offered 365000 for it now. Do you think it is crash? Same area, I saw a house in Jan 2003 for 175000; Now selling for 239000. What have you got to say about that?
  5. Your reply sounds good and balanced. It is the market forces that decide the prices. Not any one with a vested interest. That is why I am aggrieved at people suggesting that house prices are massaged by some one. They happened to be high because people are paying somuch. I do admit that house prices are way too high for the average person to afford on their own salaries. Then who is buying them all? The mortgage figures are record for this month for many years- even accounting for the remortgages, who is getting these mortgages? A lot will depend on the sentiment. Which way is it going to be? Can you be sure the last sentence is going to be correct or it is only your wish?
  6. Only me This is my problem. I think you are too pessimistic about Britain. If we have China to make us products cheaply, why do we have to manufacture these? 99 p shops are full of these products and we know the quality of these products. We do produce high tech products- the large companies in FTSE like BAE, Cobham, VT, Rolls-Royce, Beverage companies, Glaxo, Astra and innumerable others do manufacture goods of high quality; we sell arms and defence equipment and aircraft to various countries- We are quality unlike many of these foreign imports. Will you buy a Chinese car or computer? The profits of the major companies last year year were record breaking- does not suggest ailing businesses. I do not think we are staring at disaster.
  7. I am sorry I did not understand your post. I already quoted the name of Capital Economics (everyone here knows their predictions- for your sake, I can tell that they predicted a fall of 5% over next two years and stagnation afterwards, not hardly a crash if you are banking on a x3.5 salary multiple for a FTB to get in to the property ladder). Tell me the predictions from other experts (those who deal with or study in depth the property)- I will be glad to listen. I am not trying to wind up anyone- just trying to understand the market and the way people think. If the facts are not what you like, that does not mean they are meant to wind you up.
  8. --House prices cannot stay inflated at 20% for ever- But that does not automatically mean it has to crash. --So what is the problem? If you can repay your debts it does not mean anything. --the builders need not be building at the same rate all the time. --Obvious fact; FTB cannot afford property like it was. However, If you are so convinced, can you explain how the prices increased 20% year on year over the last five years with the FTB numbers dropping like stone? --True: it is a form of business. People are looking for different investments- they enter a form of business when they think it is profitable. --That is only a theory.
  9. I have a grievance about this reply. Mine is not a biased post, only an alternative view point. The term vested interest does not include the financiers and property developers- FTB have vested interest in buying property, STR have in buying at a lower price than they sold etc. But I do not consider FTB doing anything wrong in having a vested interest, unlike you. Many a FTB has been misled by wrong assurances in such a way that they have waited long without buying a property which would have been affordable, finally missing the boat possibly for ever. It is wrong to accuse one without understanding the substance of the post.
  10. Even the most ardent bears- capital Economics who had been predicting falls of 20% year after year since 2000- have finally realised that house prices in Britain are not going to collapse overnight. The various experts in the field of housing have their predictions for the new year: (The following is taken from this is money from a couple of days ago): WHAT THE EXPERTS SAY HOUSE PRICE INFLATION IN 2006 Halifax 3% rise Nationwide 0-3% rise Council of Mortgage Lenders 2% rise Royal Institution of Chartered Surveyors 4% rise Rightmove 4% rise Hometrack 4% rise Knight Frank 2.5% rise Savills 0% rise Haart 2-3% rise The amateurs have been predicting falls of large proportions without thinking that the fundamentals are sound. They have been proved wrong time and time again. Prices have stabilized. There is no evidence of imminent falls. Even the Bank of England do not consider this a significant threat. What do the amateurs have got to say now? How many here are revising their thoughts? Have you been reconsidering your stance? Apart from dramatic anecdotals and theories of falls based on previous crashes, can anyone give exact data to substantiate these claims? HAVE A HAPPY CHRISTMAS!
  11. This part of the story shows the demand for rented houses; no one seems to be in trouble repaying mortgages. If this fellow can repay mortgage for 800 house, others too can. Therefore, there will be no forced sellers.
  12. We have been sitting on the fence regarding the EU for a long time. They need us as much as we need them. Regarding the economic situation, who can talk about the future? Last couple of decades have seen new technologies emerging and huge increase in our wealth. This has made the standard of living much better (I do admit houses have not become better).It is this newly created wealth that is keeping the house prices high along with everything else. We will find new ways to increase this wealth. Look at this news item: Tesco boss 'eyes Indian market'
  13. I will recommend what TTRT has told you- look for ways to buy a property. You wont be able to compete with second home buyers. Start with a small home, not where you are looking for. Brighton is expensive, go to cheaper places around. Get the maximum possible mortgage. Try squeezing your parents for part of the deposit. Just keeping your money in the bank means you are losing money in tax apart from losing its value through inflation. Make a decision before things get more out of hand.
  14. It is fine to talk about the theoretical aspects of borrowing/debt. However, on a practical level, there are too many public service employees who earn large salaries waiting in the pipeline to buy houses. The numbers are rising every year. You can clearly see this near hospitals and schools- profusion of BMW`s and Porches and large gas guzzling SUVs, where we were seeing Fords and Rovers previously. This section of the population do not think that the prices of houses are going to crash.Gordon Brown will surely keep on with his spending in the near future.
  15. Dr Bubb has been drawing charts of the property shares, suggesting imminent collapse in their prices indicating house price crash. Look at todays news: mid-cap index scored a fresh all-time high as housebuilders rallied A crash scenario!!
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