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dalek

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Everything posted by dalek

  1. What's brought this on, Fred? When interest rates rise, the whole thing about sellers being forced ones will change. Panic city, remember? And people always have to sell - new jobs, etc. Many, many people have no choice but to move. House owners are in denial at the moment, they can't believe they're unable to rake in huge profits anymore. They can hang on for a while, hence stagnation, but soon they must. People will do anything to avoid going bankrupt, even with the new regulations, so your scenario just won't happen. Of course this is emotional, it's horrible - but why the fxxck should you keep working like a dog while living on crusts. This is the case for many of my colleagues. Six months. What have you got to lose? And by the way, what the fxxck can the government do? They're flailing in all areas - look at pensions, the fxxxers. Believe me, the last crash only hit the working class - read Tim Lott's amazing novel, Rumours of a Hurricane. This time, the middle class is being hit - it's all going to be very different.
  2. Maybe you're looking at this coming crash like the last one. This one will be different. When it happens, imho, it will be fast. Too many people (and I know many, all professionals) are mortgaged up to the hilt. Last crash, it was the 'working class' only. Not the middle class. (I'm from working class stock and proud of it, but now have to admit to being 'middle class'). This time, most middle class people under 40 are already being squeezed dry. Interest rate increases will cause havoc, and they won't be going down again, like this year. £200k would be worth waiting 8 months for, wouldn't it? Compared to £240k if it's accepted. But I think you'd be surprised. ok, give it 6 months. You'll thank me.
  3. You say you'd have the luxury of fires in the bedrooms! We'd have killed for that. There's nothing like getting out of bed in the morning and seeing your breath. Seriously though, it's a tough choice. In this climate, your farmhouse sounds a good deal. But, speaking as a financial journalist, I truly believe interest rates will rise next year, maybe from spring. Then the shxxt will really hit the fan and pack of cards time. What I would do (and I'm not just speaking from my cosy just-caught-the-boat flat here, as I'm seriously thinking of str-ing; I've already been looking at rental properties in Shropshire) is give it 8 more months. No more. Prices won't go up, Fred, guaranteed. They'll stagnate for that time, with the rubbish stuff falling in price, so you won't lose out, and you'll find another farmhouse, maybe in better nick, by then. If the crash doesn't start happening by then, well, buy. I don't think you have anything to lose, and, psychologically, 8 months is not that far away, compared to three years anyway. And it may prove mighty wise.
  4. I'm only 46 and grew up in house with no central heating - mum or dad lit the fire in kitchen and living room at 7am. I look back with nostalgia. Dad's 76 and still has no central heating - north west wales, no supply. And he's happy. Anyway, if you wanted it, it's only around £5,000 for a house. Haunted, get it exorcised first - local vicar, costs nothing. Good luck, Fred Oh, and by the way, to put things in perspective - my one-bed, small-garden flat in East Dulwich was recently 'valued' at £225,000. Think about it. Ok, I bought it 7 years ago and couldn't afford it on my salary now (then was a slum and cost £77,000 and I now earn £30,000). but on £40,000 a year, yes, I'd still go for it, but it needs nothing doing to it anymore.
  5. We do drop the price and within hours the mortgage advisor at the EA has put in an asking price offer!?????!!!!!!!!!!????!!! Are you mad!!!?? Get a new EA! (and report first lot to the ombudsman, if they're part of the scheme (or not). It stinks to high heaven.
  6. Look at the gay movement, and before that, the women's lib movement, and before that, the black civil rights movement in America. What started them, what brought people flocking to join them, what ended up with an incredible change in society's acceptance? Protest marches! From little acorns, great oaks grow. Yes, I agree with Fred that council housing must get back on the agenda, but equally the evil of house prices at the moment also has to be addressed. This government is shxxxxxg itself over London, for instance. In 10 years time, if the status quo continues (which, personally, I don't think it will), not only will "key workers" be priced out of London (or living in bloody tents) but so will the rest of the workforce, who, frankly, are also key workers, lets face it, despite not being designated as such - shop staff, secretaries, clerks, receptionists, supermarket cashiers, security people, cleaners etc, etc and probably even many professionals. London will be a wilderness where, if you need a washer changed on your tap or a shelf put up, never mind anything more complicated, you'll have to pay £250 as call-out for them to travel from Milton Keynes.
  7. Are you stupid, or what? Fred has issued the rallying cry. Are you number 17, or what? (18 with el pirata!) Soon, believe me, we'll have 100, then 1,000, then ??????
  8. 'Deep in my heart, I do believe, clap your hands, Gordon's a twxt' Come on, chaps and chapesses, we can do this!
  9. Can't you see - it's Fred who's given the rallying cry!
  10. Yup. One of my colleagues - a journo on a national newspaper on £32,000 - recently bought a place for £200,000 in a truly crummy part of London (think Monopoly). He was on a list with a housing association for years and somehow - don't ask me how it works - it bought half of it with him and he pays 'em rent. God knows what his monthly payments are.
  11. We're on our way! As to direct action ideas - I'm sure you are aware we are being watched. Maybe an HPC10 pub meet would be a good idea? Although we'd have to vet infiltrators...
  12. And, for instance, from news.independent.co.uk, dates November 16, 2005: The next move in interest rates could be upwards on both sides of the Channel, analysts said yesterday, in the wake of bullish comments by the head of the European Central Bank and a surge in the UK's service sector. In a briefing after the ECB left its main rate unchanged at 2 per cent, Jean-Claude Trichet, its president, insisted several times that rates "could move at any time". Hee-hee. (I don't know why I'm laughing, as being a flat owner I'll be buggered. I suppose it's because I'm one of the few real socialists left in this country, and hate New Labour and the injustice they've caused with a vengeance).
  13. Too right about even 6%. But as to RFD's fears about SIPPS, read this, on the moneyweek.co.uk site: It may look like a “no-brainer”, says Paul Farrow in The Sunday Telegraph, but investors should be wary. First, only those with “sizeable” pension funds should even consider putting a property in it. The maximum loan that can be obtained to buy property will be 50% of the fund value: so if your pension pot is just £60,000, an extra £30,000 won’t get you very far in today’s property market. And even assuming you can afford it, putting property into a Sipp is a “deeply flawed” and high-risk move, warns Antonia Senior in The Times. (sorry, I haven't worked out yet how to put in links to sites). That's the trouble with having no brain. However, one thing I do know, is how to use google: type in 'interest rate rise UK' and you get, for instance, from www.myfinances.co.uk: Friday, 28 Oct 2005 12:08 Today a major report predicted that interest rates could rise again. This is the first time in months that analysts have mentioned the idea that the cost of borrowing will rise, the consensus before today being that the Bank of England is sure to cut base rate in the coming months. But a new study by the National Institute of Economic and Social Research (NIESR) has gone against the grain and predicted that - if anything - interest rates are set to rise.
  14. Fred is right - it IS time to do something now. I'll march - well, slide. However, the crash will have nothing to do with a corrupt market. Like the last time, it's interest rates rising that will do the trick. And most non-VI financial organisations are implying this will happen after Christmas. I've seen the figure 8% bandied about in a few publications, and that's enough for everything to go pear-shaped. And btw, it's not just ftbs who'll march with you - I bought my one-bed flat 7 years ago (although recently I got into trouble because I was unemployed for two and a half months, which is something, RSF, that we're definitely going to be seeing more of, so there'll be an even bigger rise in reposessions, etc etc). But some friends have given up on buying and even colleagues on good salaries - £36,000 plus - can't afford to buy anything here in London - yes, most journalists under 37 are despairing ftbs!
  15. I don't think you're a victim of your own making. This is not mainly to do with consumerism gone mad. It is, partly, of course, but on the whole I think the price of even basic things has soared because retailers know we can all get easy credit now. If this hadn't happened, things would be a lot cheaper. For instance, if you're mortgaged over your head, or even by three and a half times your salary, after all the insurances (contents, buildings, car, mortgage protection!, health), pension, council tax, etc you have to pay, you're left with nothing to put aside for a rainy day, eg when the washing machine breaks down or the car needs a new alternator. Therefore, you have to buy it on credit. I recently bought carpets for my flat - tufty carpets great for gliding on and the old ones I'd lived with for seven years while I slowly transformed my flat from a slum to something comfortable, were crap. Cost £2,000, and nothing special, just durable. No way could I have saved that. So MEW to the rescue (yes, I know - idiot). But as I've said before, I believe it's been Blair's policy to get us all into debt - how easy is a population in heavy debt to control, especially his potential future opponents - university graduates now starting life with debts of £20,000 plus (and no hope of buying a home in the next 15 years unless, God wiling, there is a crash).
  16. I have to agree that rfd's posts can be hilarious - in fact one recently where he takes the mickey of Durch after he's come back to the site after a visit to the pub, oozing universal love, as you do, bless him, was one of the funniest things I've read. But when it comes to women lets look at the real venom behind this blokey 'fun': Cash buys women, in the main, eh. Come on, chaps, that view stinks! If it wasn't for rfd's brilliant - and compassionate - takes on the hpc, politics, injustice etc, I would suspect he was a troll-plant from the Angry Harry website.
  17. I think it's obvious what the issue is. Like most of the men and women on hpc I don't like seeing half the human race talked about on this site as though they were shxx and good for only one thing. It's time some of us did judge a bit more. You probably wouldn't feel so comfortable if men were dismissed with such hatred by the women here. Women, by the way, who feel exactly about the house price issue and policitcal and economic injustices as the rest of us do.
  18. For fxxx's sake, when are you going to stop spouting your woman-hating drivel and stick to the subject? It seems you get off on abusing them. Tart, tits, busters, rat up a drainpipe etc ad nauseum. Like far too many men on this site, you come over as a lonely, bitter nerd who hasn't had a woman in years and never will. The fact that we're anonymous looks-wise means you can put yourself over as some lothario who women are gagging for ("I have handled better" my ****). Gagging at, more like. Keep your twisted views to yourself, it's embarrassing.
  19. A brave admission Durch. What I find is I've often been outraged at some character's attitude or behaviour in a film or TV drama, only to find a year or years later I catch myself displaying a similar attitude in my own life towards something. There's a novel in this subject somewhere! (Human beings never cease to baffle me!)
  20. Glad to hear it, Dude. I have to say though, the more I think of it, the more seriously freaked out I am that the majority of posters on this site are Tories. Seriously freaked out. You're right about the Russian pimp, too.
  21. This is the only time I've agreed with you. I suppose I'm old labour, but without unions being out of control - which I don't think would happen again anyway. But we need some power, for God's sake. I'm also anti-globalisation. I have to say I'm more than a little freaked out that the majority on this site are tories! I'd have thought they were VIs.
  22. Wow! Funnily enough, the pin number on my credit card is 6366!?
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