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House Price Crash Forum


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About thedarknorth

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  1. Dr Barry Monk The author is a consultant dermatologist who went to university at a time when all fees and living costs were paid for you.' All unsurprising but of course very few should ever aim to repay the loan - it is just a graduate tax really and heaven knows how the accountants deal with the unpaid loans maturing - I think that should start in ernest from 2028 on as the fees started in 1998. Here in my part of NI where we have a huge percentage of people who go to Uni the penny has dropped that you just move to the ROI - about 20min drive away, work there and avoid this Tax. The SLC write to your mum or whatever but so what, debt gets written of in due course then anyway.
  2. I guess if you were in the countries of the old empire of Persia you may think that the more recent but declining empires of the English have already been at a resource grab from 2003, causing further instability in a large region of the world to their advantage while their citizens don't consider it to be a war at all for the most part.
  3. Not the UK. Northern Ireland properly crashed in 2008. It isn't cheap to buy there, it is what it should be in E&W.
  4. So there is much talk about movement of people and goods post brexit. When is the media getting around to the free movement of capital? Will a eu citizen be able to transfer profits abroad or money in to buy houses here no questions asked as they can now? It seems ridiculous that dodgy money in dodgy money out isn't being stopped as that may sort some house price issues in London.
  5. from wikipedia; Almost 648,000 customers currently choose Motability for their mobility needs equating to more than 200,000 vehicles purchased per year by Motability Operations. Overall customer satisfaction is independently measured at 98%. In Autumn 2015 Motability Operations was judged by the Institute for Customer Service to offer the 'highest customer service in the UK'.[4] Around two-thirds of Motability’s customers drive their own vehicle, but non-drivers can get a car as a passenger. Similarly, parents and caregivers can also apply on behalf of a disabled child from the age of three. Once their application has been accepted, the customer uses all, or part, of their allowance to pay for their vehicle for the period of the contract hire agreement. Over 450 models of car are currently available to lease with no advance payment – larger or more expensive models may entail this additional cost. The largest fleet operator in Europe and the largest supplier of used cars in the trade, Motability Operations is owned by four major clearing banks – Barclays, Lloyds TSB, HSBC and the Royal Bank of Scotland. Motability Operations’ annual turnover is around £4.2bn. Any surpluses are continually reinvested in the business. Motability Operations sells over 200,000 used cars a year and the company's car purchases account for approximately ten percent of total new car sales in the UK. Since the Scheme started, over four million cars have been supplied.
  6. thanks Paul, we'll maybe keep an eye out in case something really good and well priced comes on. 20% of net income would do just fine.
  7. Ok ok I apologise for not asking my question in that way. I am welcome to any view that helps me, i'm sorry if i've annoyed you. Northern Ireland charm there
  8. Not reached a conclusion Fubar - we just see a few we had viewed selling and were wondering if it was a dead cat bounce?
  9. I wish I could edit and correct the spelling etc.
  10. So we've held of this long, and houses are much better priced than even a year ago so for various family/ work reasons we are viewing. We haven't seen anything we really wanted but a few maybes priced about 60% of their bubble price, which allowing for inflation is a massive real reduction. They decent ones are selling reasonably fast ( faster than I would like them to be), and probably being bid up by 10-15% if they have a good asking price. Unrealistically priced stuff still stinking the plcae up of course. Anyone seeing the same? Is it a dead cat bounce in NI or have we bottomed out........?
  11. It made the main forum Belfast Boy. It was at best an odd report dealing with the unfortunate meeting of NE and Vested property for the unlucky guy. A litlle bit of sad news, but even the osmonds have had negative equity it appears. I'd like to have seen that graph go back a few years before 2007. I think it was probably just a BBC pacifier of attention/comfort being thrown to NI "Look we haven't cut you off, we still care about your issues" while avoiding anything vaguely tribalistic. Ironically the house price crash is a safe subject when it comes to NI for the BBC! The most important recent media for Belfast was last nights Nolan show - Did you see all the tweets along the screen saying "I can't wait to get out of here" etc etc? Everytime someone speaks the price of a house falls by 5%. They'll be creating ridiculous numbers of government non jobs in the future just to pay people to live there..............
  12. In fairness the guy who bought the house for 150k and had it compulsory purchased for 90k is right to feel hard done by. 60k debt to the govt- did the govt.own the mortgage...... As he pointed out himself without the compulsory purchase he would have Neg Equity but he would have a house to live in and he could possibly ride out the problem - surely inflation, given the qe will help him out over the next 25 years - he is young, the mortgage was just a couple of years old I think and no mention of being unable to pay the mortgage. That is bad luck. Isn't it? Of course the One Show couldn't deal with the absolute tribal sewer Belfast is and that any right thinking person would escape it asap. (unless they have a public sector job).
  13. West of the Bann (and probably inside too) I predict that lots of Zombie households and buy to let people will be in Bankruptcy this year. Watch the lists at the High Court and the media releases from CAB to judge the numbers as these will all be additional houses for the market. People do know just how far back their investments have fallen and how hard it is to get back out of the hole they are in - it requires a 100% + rise in house prices just to cover the mortgage liability for anything from approx '05-'08 I think. Those with IO mortgages will get increasingly realistic about the future and be wondering why bother struggling to pay off interest only mortgages on properties. I know anecdotally of a few who have to top up the rent they receive to cover the IO mortgage and are now seeing this as unsustainable given the time that has elapsed on the mortgage without any of the capital being repaid and the liklihood that even if they did now attempt to cover the mortgage capital the only possibility that the house will rise to that value is if sterling is thrashed. These properties only have rental value as determined by the income from housing benefit which due to laws of unintended circumstances set the floor for all rents in the UK, particularly rural NI where oversupply of housing mean that a private renter could negotiate a great deal on rent if it wasn't for the generous rates paid in Housing Benefits - which landlords understandably hold out for. An other anecdote out west is that ex local authority terraced houses in good estates are now more desirable than the bubble houses for the shameless crowd because they are considered cheaper to heat and have fireplaces. Ironically in NI the buy to letters in the worst position are the public sector employees and professionals (i.e lawyers/doctors/accountants) for who going bankrupt is not an option as I think they simply can't when they have a guaranteed income for the attachment of earning in the case of public sector employees and their professional bodies don't allow the professions, I think. I predict; 1) Our elected reps to come up with several silly plans specific to NI re universal credit which will really be to do with local property lobby groups and not succeed anyway. 2). Loads of Bulgarians and Romanians to descend on the UK and this to be deemed just too high a price to pay for the Common Agricultural Policy and globalism - resulting in an unsettling UK/Europe wide debate on the EU. 3) Exponential growth in High Court Bankruptcy hearings in NI. 4). Increased brain/skills drain particularly from West of the Bann to Australia/Canada/NZ and London. 5). Increased social unrest in NI. 6). Structural problems in the UK economy to become increasingly tackled by the tories out of necessity with NI dealing with unintended consequences of reduced public sector expenditure. 7) House prices to flatline at the point were Housing Benefit Payments provide the floor. 8) Ulster to win the Heinekin Cup.
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