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House Price Crash Forum


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About rollercoaster

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  1. like that chart - could this just be the effect of 6month reposession delays we heard about at the beginiing of the year? If so they should start ticking up again any time ..... well now really! RBS to delay repos by 6 months
  2. How stupid - typical politicians - Labour have lost the next election who ever becomes "leader". They should let Brown be the fall guy and accept they will loose the next election. A leadership contest now is madness .......... Either that or the exit polls indicate total wipeout at the polls today for Labour - maybe its brought the fear of loosing their jobs that's left them grabbing at straws! It's like the tories with Maggie all over again!
  3. kewl ..... where do i sign up? Be good to go back into the agents office with a nice discount book asking for the 20% average discounts on a property yet to lower
  4. Maybe the market is just a bit skewed as loads of bankers have gone on holiday to Mexico .......
  5. I think we could see a variation on this e.g. classification of prime loan criteria based on say 3 times multiples or a similar theme - this would allow the banks to offer higher ratio loans but the percentange of these riskier loans on the book would form part of the overall assesment of risk allocated to any institution. e.g if percentage of none a-grade loans is over 10% say, then capital reserve requirements for that institution are increased. I think most of the lenders know house prices have a way to fall yet, and have already factored this in - hence increasing LTV requirements on loans. Rightmove report was also basically saying property is only shifting at 25% of peak. Spin in action to prevent it being spelt out to the masses that houses are still overpriced really - there is a return to historical lending practices, albeit done so as not to scare the masses and the govt to receive the blame for the paper falls and a minority of people who will be pushed into -ve equity
  6. Pounds already getting hammered - imports increasing in price, then all those lovely tax increases to look forward to - not long until we'll be talking about increasing interest rates, keeping downward pressure on house prices as mortgages becore more expensive ...... oh dear .....
  7. I guess it depends on what you mean by work? I think it might work - in so far as it will potentially stop banks from going under, but I don't think it'll restore crazy lending, nor stop the current fall in house prices. easing credit won't stop the recession, it might just lessen the severity of the decline. Simple fact is personal debt in the UK is too high, and needs to reduce, house prices are still to high and have a way to fall yet.
  8. Why don't they just pass a law setting out minimum lending criteria to individuals e.g. a total cap on all borrowing of 4 X income + liquid asset value available. Oh and a residential property investor restriction requiring 25% minimum equity - would quickly reset housprices and over a few years stabilise individual debt levels.
  9. Saw an interesting article on Look North tonight about the number of repossions increasing in yorkshire cities. http://news.bbc.co.uk/1/hi/england/7682172.stm Remember moving here about 6 years ago and watched prices explode from less than 50K to over 100K for bottom end houses. The chatter talked about the sub-prime mortgages taking the biggest hits - those with poor credit ratings or low incomes. I suspect it will be this bottom rung that feels the drop in house prices the most, and will pull the rest of the market down. Seeing houses going for 50-60k around here in the not to distant furture me thinks
  10. Am I the only person who couldn't really care less about this? Is it really any worse than the unions and the labour party funding? I think a sensible plan of max 50k per year from a single source, be it individual or organisation, with an upper limit of say 10 million per year (or 15 in an election year) - sounds a good way to go. So long as they don't ever ask for any of my money! After all do bill boards or leaflets really make that much difference to how people vote in elections?
  11. how about - governments become preferential bidders for any repossesed assets i.e. houses to help rebuild social housing stock? Or stock given as an investment to state pensions from which we all could benefit? Overall I wouldn't be surprised if the govt could come away as a winner in this in 7 - 10 years time ..... Infact I could be tempted to invest in govt bonds directly related to the performance of these new banking assets over the medium to long term if they were available.....but i don't think my measly 200 quid punt would help offset that 50bn!
  12. Big reduction in BoE rates - may happen, but I don't think that'll quite translate into big decreases in mortgage rates for joe public ...Nice margin increase for banks to help pay preference dividends now due to the govt.....
  13. no more mega bonuses for execs lets not forget get the majority of bank staff share in bonuses one way or another, bonuses factored into "affordability criteria" for mortgages before they are spent i suspect in many cases - one way or another it'll keep mortgage multiples lower - and ultimately house prices on the downwards spiral until the level of personal indebtedness reduces.......considerably.
  14. Alex Salmond didn't look happy - guess the headquarters are going to be in London - bye bye future tax revenue for Scotland is they ever split......
  15. Stop all unplanned capital spend in March - end the spend it or loose it culture at year end
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