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Everything posted by spyguy

  1. There is a parallel between pubs and the Millenium (remember that?) All the pubs tried to charge stupid entry prices - £100 was the going rate near me. Some were OK deals - food and all booze - but you'd have to be an alchy to get your money worth. This put people off and they started having house parties. This carried on during 00s. The pubs bang on about the smoking ban, which did contribute a bit, but never the 2000 gouge. 2012, pubs are on their a5rses. Same thing for London. These prices will stick in peoples head. They won't associate them with the Olympics. 'Fancy a weekend away dear?. Where shall we go - London?' 'Oh dead expensive, how about Barcelona?' Trains to London from 'the North' - 3/4 hours, £100 Cheap flight to Gerona - £100/2 hours. London will have a lucrative Olympics, followed by a miserable 10 years. Don;t underestimate how much the PIGS are going to compete for cash. They'll virtually throw the hotel in for free to get people spending in the bars and city. Christ, some will have to throw in the owner's attractive daughter for the night.
  2. The stats for UK education are wierd. You have an OK middle, a good top and a 3rd world bottom 1/3. I went to a comprehensive in Whitby Yorks. There was no choicel you went there. The local private school was used by army families. They played rugby. Only. The exam results were worse than the comp. Anyhow, I digress. The comp struggles to get beyond x-%percentage getting passes. The school itself not too bad. Some crap kids; some crap teachers. A few go to Oxbridge and a lot go to ther Unis. However they have this total useless rump of about 30% - old fishing families, new benefits families. A good 10% barely turn up. These people just won't learn. Previously it was that they'd get a job on the boats. That ended in the early 80s. Now it cause they can benefit + house for having kids. If the UK wants to improve the skills base then they need to: - Minimum wage for 5 gcse passes - only! - Work fare. 2 work before you can claim. 5 years lifetime max claiming benefits then you're off it. For good. - Welfare loans. Got kids then have 10 years to bring them up. The years are shove onto the reitrement age i.e. you work for an extra 10 years.
  3. I've said it in another post but did you know Grant Shapp is Mick Jones' cousin? http://en.wikipedia.org/wiki/Grant_Shapps' Shapps' cousin is Mick Jones, of punk rock band The Clash'
  4. Both repos or development. Bare naked! Its hard to tell these days unless you see the bog taped. I would say development because of the ambitous pricing. But WTF did they develop? York is running on air. More so than the UK as a whole. It has shed huge numbers of jobs in the last 15 years - trains, sweeties etc. Leeds - the commute to place - has also been hit heavily. Hardly suprising as the place seemed to do most of the legal grunt work for all the new builds.
  5. Is there a way to find out aucton and private sale prices? And commercial, for stuff like hotels, B+B etc.
  6. This should be interesting. You cannot hand your keys back in the UK . Yes I know its obvious but every pub (those that are left) always has someone whittering on about that. Buy UK bakruptcy - at the moment - is pretty light. You lose everything but you start again. Spain's bankruptcy framework is a bit Dickensian. I bet they borrowed money under Spanish law. Fools! They never had to update cos until 1986 Spain was virtually a 3rd world and modern finance i.e borrowing large amounts of money did not exist. My BIL is in spains. He's been there since the late If yo ut think the UK went mad in the early than you shoudl have Spain. At one point he was going on about buying 10 flats in Barcelona. In the end he bought a holiday home and new flat. As an investment. If he dies at 90 they'll be shaking money out of his shroud.
  7. I heard it. A pointless article. The daft bint reporter says 'half the price that the house was valued at in 2007' OK, what was it valued at in 2002? 1999? Stupid thing, the house and seller picked for article was selling the house she grew up in i.e. something that had been owned for 30-40 years. Robert Shiller, as ever, was good, his core messae was after such a boom and bust, who knows whats going to happen. i.e. the market has been so distorted it'll take years for normality and sense to come back. A lesson for the UK I think.
  8. I drive my GF nuts as I never ever ever would consider using a credit card in a restaurant. a) the more thic ones do not accept them - fair enough. never trust people on the tills. the number will be wining it to albania before ive left. c) a lot try and scam by putting a fixed tip on and then leaving a place for your tip as well.
  9. You're wrong. It took 1 full-time job and split it into 3. Bang - lower unemployment. Well done Gordon. Big tick. Bang bang - large number of people dependent on the government (i.e. Labour) largess. But ... The money required for the tax credit is huuuge. Its up their with pensions + housing benefit. Thats from £0 -> billions in less than 10 years!!!! The hidden problem is that there is almost a generation of people who failed to acquire full-time jobs that would allow some progress and let them earn more. Instead we've ended up with a load of people who can just wipe bums or man tills for 16h/week. Cheers Gordon you uttfer f-ing moron.
  10. Yep. I take 200 out on Sun and use it for spends during the week. Only use credit cards for the insurance.
  11. That's 20% working in the private sector.
  12. It's naive. Although I was not living in Salisbury during the last downturn, the place did get absolutely hammered. Its one of these places that, in good times, attracts people. But the time and cost, especially now that train fares are going up RPI + %% for the next 10 years, makes commuting to anywhere with jobs - now only Brsitol (70mins) or London 120+, a total non-starter. Salisbury does appear to have more than its fair share of old people. The cathedral attracts them. But the number of rich, old people. Nah. The key house buying. market making group is working 30-to40s. This cohort has disappeared from the locality over the last 20 odd years. Coming from The North even I have always found the number of people in Salisbury dependent on the state - either employed or on benefits - to be eye raisingly high. Not sure if you have kids but try a little experiment - try and find out how many kids parents are wroking in the private sector i.e. not employed by the government, or on benefits -either full benefit, or the 16 hours family tax credit. The numbers are nuts at my kids - rough guesstimate is only 20%
  13. Genuine story. Ex house share mate. Got married 5 years ago. Paid stupid money - 180K - for a crappy 3 bed house, constructed in the late 80s. I would guess its got less than 20 years life left. The place is cheap. Anyhow, intended flogged up and stumped up 40K deposit, giving a mortgage of 150K. They paid off cards, bought car, had holiday. Bought the house in 2007 - 5 years ago. Mortgage is about 700/month - 8.5K/year. ~6% APR Mortgage is a 25 year IR only. Its from a Skipton BS sub. He doesn't work now. He's only ever worked for his sister and she went under 3 years ago. He's 50. She works 40h as a heath worker ie. unskilled/NVQ. I'm guessing 15K. Despite the deposit, I would guess they don't have any equity. The house is one that would only sell in hysterical price panic. In 5 years (1/5 of the mortgage term) he's paid off a grand total of ....... drum roll ...... nadder/zero/zilch. They still spend - euro disney world, 2nd car when the new ones still going - despite missing a 'few' payments. Mouth dropped at this. Doesn't want to rent as he can hang up pictures and would be worried about getting thrown out.
  14. Your problems are selling the first house and the convincing the owner of the next house that its fallen quite a bit. Houses are not transacting and have been low since 2003ish. I stand by my comments of employment - the thing that pays off the mortgage anywhere. FP (as was) and the SIPP servicers (James hays, capita, etc) are on their last leg. As far as I can work out the HPA is off.
  15. Easy. Asking price = mortgage + cash to pay off credit cars + nice new car + deposit for new place + nice holiday. That's how I've heard people price their house.
  16. I not some sort oftechnical analysis nut, or xyz wave theorist but .... the developed economies typcially have a big financial crisis every 7 years. Things have changed, we seem to having 7 years of financial crisis'.
  17. Former Snr Simpson http://www.zerohedge.com/news/one-half-simpson-bowles-goes-there-krugman-borders-hysteria Its got everything. - Cute presenter. - Krugman slagging. - A republican who can do sums. [God, I've not heard a sane Rep. for years. Karl Rove/Grover Norquist certainly created a monster.] America has better demographics than the UK. This line is the killer: Critically, he adds on the growing demographic crisis "This is not 20 years ago, it isn't 10. It is now. You have 10,000 a day coming into the system. The demographics are there. It is all different -- it is not the same". By system, he means retirement, medicaid. The future has arrived. And the all want their hips replaced. For free.
  18. Didn't the young-ish blonde girl inherit the bedding place next door - both left + right. She opened Lulu's a couple of years ago. I guess she's reached the end of her rental and legged it. It was all very girly-ish. The furniture and bedding place was finished off by Ikea - like most of the other furniture places will be. Christ the furniture place had an '0' at the end of Ikea prices.
  19. http://www.dailymail.co.uk/news/article-2144640/Fifty-Romanian-beggars-set-camp-central-reservation-Londons-exclusive-Park-Lane.html Christ who'd pay millions to have that outside your door.
  20. My original post from http://www.housepricecrash.co.uk/forum/index.php?showtopic=175884 Bought in 2006ish for 130K Using her new found fame to try and sell it. Originally listed for 325k!!!! Anyhow, had a check expecting it to be sold. Her original buyer dropped out but she keeps writing about new buyers turning up. Having her arm off in fact. Stumbled on this site which has a nice graphic: http://www.home.co.uk/search/price_info.htm?property=2451857911 Now on for 275K, 50K drop. Only another 100K to go to fair value
  21. Another great post from the (free) FT Alphaville http://ftalphaville.ft.com/blog/2012/05/11/996871/wuthering-uk-master-trust-assets/ Breached a non-asset trigger on Friday. Assets have fallen below the £10.7bn which Aire Valley was supposed to maintain until April 2013. Remember, no new loans with have gone into it since 2007ish. - average current LTV of roughly 84% - underwater loans increased to 21% - IO loans - the proportion increased to 90% [This is interesting as it suggest most of the borrowers are in distressed and are switching IO] - 97.6% of the mortgages are floating rate In short, nuts deep in a couple of fat,badly dressed teachers.
  22. Why would you let out a flat you were hoping to sell in a few months time? And expected the tenant to show people round!!! This screams greedy idiot LL. Why would the tenant agree not to put the money in the TDS? What does the tenant gain from not doing it - nothing! This reads like an idiot who's trying to scam as much money as possible and then trying to use courts to dig themselves out for being a greedy idiot.
  23. The NHS and all other health care systems have a pretty marginal effect on the populations health. The important health services are clean water followed by sewers to take away the dirty water. Followed by food. Having a number of hospitals does not have a huge effect on the larger population. The claim that most of health spending goes in the last few years of life is pretty damming* P1ssing money on try to avoid the inevitable. * I hear this spouted a lot but I have never seen any figures on. In fact I've never seen any good broad stats on any of the NHS spend i.e. how much do we pay per head on diabetes etc.
  24. You're nuts. LTV do not matter. They care - at last! - about your ability to service the mortgage debt not whether you can do the financial equivalent of doing 70mpn in a Robin Reliant - i.e. wind behind you, down steep hill for 5 minutes. You're a freelancer. You're too risky. You will struggle to get anything beyond 2 times certified income with 60% deposit. And you'll pay over the odds for it. In general, if the cost of the mortgage payment - interest + capital - is more then 30% of your take home then you'll be classed as high-risk.
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