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House Price Crash Forum


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About Gee

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  1. It's a sliding scale of good/poor fortune based on date of birth: Kids where I work - shared houses until their mid 30's/part-ownership on a shoebox (the mad ones). I'm early forties - have a flat with decent equity. My childminder and her husband (blue collar job) in their 60's - 4 bed £900,000 house and BTL property. Not that I'm bitter. Heh. It's the ones who have bought recently I fear for. Only so many times you can point them in the direction of the headlines screaming 'BUBBLE' before becoming a Cassandra though.
  2. Hmm, lucky in the sense that I bought in London and haven't had to worry about negative equity. I'd hesitated from around 2002 as I thought we were in a bubble at that point! I was reading HPC and convinced a crash was around the corner - as it should have been. In hindsight the time to take that second step would have been around 2009/2010 but at that point I seemed likely to be made redundant. In those respects I have been lucky. Of course the best thing for me to have done would have been to take out a LIAR LOAN and bought a house first time out in 2004. Always too cautious - but this real
  3. This is the situation I'm in. Bought a 2 bed flat in North London in 2004, two kids since then. Obviously we've been lucky with HPI and have paid down the mortgage (should be clear in 3 years), but are getting ever more cramped. I'm buggered if I'll put an extra £400,000+ on the mortgage for one extra bedroom and some stairs though. Prices are up around 20-25% from 2007. Clearly the smart move at this point would be to move out and be mortgage free outside London but we've put down roots. Maybe in a year or two if London doesn't tank in the meantime. Locally I can see in the 10 years we've be
  4. As an aside, what are the rules if an owner-occupier is made redundant then sells their house in order to move to another location? Is buying a new house with the equity permitted or is that deprivation of capital?
  5. Daily Mail readers finally learning they're not exempt from 'We're all in it together' after all. Only the super-rich are.
  6. Indeed. http://www.housepricecrash.co.uk/forum/index.php?showtopic=191421&pid=909346751&st=0entry909346751 I'm considering reducing work hours to a 4 day week as there's little incentive to work harder. The gaps on 'the ladder' are so large I'd need a 50% pay rise to make moving a realistic proposition. Better to just enjoy life a little more.
  7. Thanks for the reply. No chance of a third one. We'd manage on one salary, just about, as we'd save £15k on childcare p.a. if one of us stayed at home. The big consideration, I suppose, is the utility of having more space now, against the utility and flexibility of being mortgage free. In my mind, if we stuck it out where we are (turn living room to 3rd bed, turn kitchen diner into kitchen living space when the kids need a room each) we could save for higher education costs, retirement etc. Also the flexibility of making a major life change if one or both of us lost our jobs to move somewhe
  8. Apart from the very obvious point that we'll have a spare £1700 a month to do whatever we want with when the mortgage is paid off, as opposed to shelling out £2k plus to infinity and beyond of course! London house price madness can make you a bit stupid sometimes...
  9. Hi All, I've just checked my profile - I may well be 'lurker prime'! 4 posts having joined in 2004! I still check this site almost daily, especially since the financial crisis. I'm just gauging opinion as I'm running out of patience with my personal situation. We bought our flat in 2004, terrified at the time of negative equity. Of course prices should have corrected around then, but Merv pumped a bit more air into the bubble until 2007, and since then London has bounced spectacularly. We're still in the same 2 bed flat, but now with 2 kids. Bought c.£230K, now asking prices are c.£390, and
  10. We could have had this exchange 2 years ago, and who would have been proved right?! The market was overvalued even at that point - but MK called the top of the market in 2004. Yours in hope of the mythical soft landing, gee
  11. We were renting a 1 bed for 6 years, just couldn't cope with moving to renting a short term 2 bed in order to have enought space to have kids. You have to admit that Merv's statement was the catalyst for market collapse. Realistically, before then, I was looking to another 10% rise to the end of 2004 then reasonable falls. I'm not an economist, so perhaps I'm wrong. I guess the short answer to you question is 'sentiment'.
  12. Hello, I'm a regular lurker! I exchanged (FTB) the same week as Mervyn Kings' speech. I monitor this and other sites in a kind of morbid fascination, as a year ago I would have been on the Bears' side of the fence, but circumstances change, eh? I suppose all this makes me a mug, but hindsight is an exact science. I was adamant in 2002 that prices could not go on rising. I would say that those who have castigated the HPC Bulls for insensitivity when taking advantage of others misfortune in the past, should look at their own desire for a crash, and the effect it would have on others. Me, in oth
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