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House Price Crash Forum


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Everything posted by spyguy

  1. He'll fail the mortgage criteria. Seriously, what banks wants to lend to an EA?
  2. I object to this post! There are two 'g' in faggot. First rule of banking - don't lose your capital. Second rule - don't lose your capital.
  3. So ZIRP is mainly saving those in the age range 40 thru to 60. Maybe you need a political party for the home less under 35s and the mortgage less (in the main) over 65s to crank up IRs?
  4. Prices round me are cheaper than they were 10 years ago - last time I took on a rental contract. Empty rentals are very noticable. I would guess there's probably 5 times more rented property than 10 years ago. No-DHSS rental rely on the job market -no jobs being created, no new tenants.
  5. This was on the BBC radio as one of the lead stories - I got up at 5am and the bulletin had it as the 2nd or 3rd story. The wierd thing was the the language used was really wierd. I could not understand the point they were making. It sounded like an editor had got it and garbaged the message - prices are mainly down on 2007 - which is 5 years ago. Outisde London you are tralking 25-230 down on 2007. The only thing that stopping a bigger rout is the extremely low number of transaction. Which is doing nothing more than saving up a lot of falls for later.
  6. Depends. This sortof action is OK if the budget cuts are political i.e. just going through the motions, with the expectations that the budget will be restored and increased in a couple of years. Problem for the BBC and Universities/HE is that their income will be going down for the for-seeable future i.e. next 20 years. The real changes will have to be made and, due to cr*p like this, they'll be much worse than they have to be. A bit like companies doing loads of early retirements in the early 90s. That put big holes intheir pension funds - along with GB.
  7. Let me repharse that - any town where London slum clearance have been moved to. Houses don't make slums; people do. You get places like the new outer-urbs new towns - Bracknell, Slough etc. Its wierd. When I worked in Bracknell and Reading you would occasionally hear the old Berkshire accents - old people, or old families outside of town. Reading's native accent is wierd -think light west country. At the more extreme you get somewhere like Andover - the last new town to be dumped with London. Andover is way out there - its almost in the west country. It was populated in the 70s and 80s by people being lied to about jobs and housing. I cant find the link but a London council has recently settled about some of the housing it built in Andover to house its ex-residents.
  8. Sort of. The biggy was AIG financial product. Lodnon did loads of CDS. We are still waiting for those chickens to roost - witness the nervousness about letting Greece default.
  9. Speaking as a Northerner who - job commitments - has live in quite a few towns. I reply is - it depends. Some bits of the South East (Reading thru to Essex) are OK. AS a rule, anywhere where there has been London slum clearance//re-settlement is going to be a dump. That's 50^ of the towns in the SE out. The areas around Richmond are nice but a bit dull. Richmon is one of the few places where I'd feel comfortable about bringing up kids. Unfortunately the rest of the SE has also come to that conclusion. The towns around the M25 - Reading, Luton, anywhere in Essex, Crawley. are horrible. Birghton I don;t get. Its a carny town full of scum and homosexuals and the worst - ageing media people, Problem is, at the moment, your money does not buy enough. Leave and try and travel in on Mon and leave on Thurs.
  10. Ed Balls just been on radio 4. Anyone know of a DAB radio that bounces off walls? He doesn't even make the slightest bit of sense now. Its just badly strung together nonsense.
  11. WIerd. Maybe the Illuminate are doing are co-ordinated push. I was reading my GF's Marie Clair and there was an article about Generation Rent. Normal quick scan to check out any lookers. Nope. Or - a bunch of lazy journalists copy each other's work and creating a lazy meme. Locally, the appears to have tweo waves of new LL's - the BTL High/Lie LTV property pyramids from 2004-2007. Most of which are only staying solvent to the bank's current forbearance policy. The last 2 years have seen a much smaller lot of 'I'm only getting 2% on my savings. I'll buy a house and rent it out. These tend to have much higher LTVs - 50% to 100% cash. Still does not help them much with voids minds. Locally, rents are all over the place, which - to me - indicates a market populated by the clueless. I apply the spy rental adjuster - bedrooms/month rent. You can see some fantastic rentals - big houses for less than 200/bedroom. Unfortunately these are too big and too nice. Why do people renting out their houses (cos hey can't sell them) expect renters to want to spend hours every weekend doing their gardening - Nuts!
  12. Printing is one area I would stay way away from. In the 80s printing unions had loads of power. Each town had its own hot mentally type press. No printers, no papers,no money. I started Uni when the whole Wapping/printing thing kicked off - 86. There were loads of Stop buying the Times. There was a lot of noise about Murdoch but in reality technology had already made its move. Since then, and especially in the last 10 years, there have been so many companies chasing too little business. A lot of printers are old styled unionised shops. We had hew in Scarborough - Greaves, Pindar. These were big paying employess -providing you were over 45 - union rules and all that. Anyhow, the cost of the unionised workforce - and the managements betting big on a merger to get more work - sank the company. This has being repeated in most medium to large towns all around the country.
  13. I started the other post on this yesterday. Its complex. Its nuts. I've never heard any put it in as short and clear as the above. All the people on tax credit - they do not differentiate working or child - know that you just work 16 hours in an easy job and get the money.
  14. I understand your point. Of the known private sector parents, 1 wife works partime in a shop (private sector), the other does not work, my GF works parttime at factory. Of the public sector, about 50% are 1 works/1stays at home. The other 50% both parents work in public sector.
  15. I'm not upset. I just find the whole situation totally nuts. End of the day - the UK is not s a shining economic star - the states' taking 52% of GDP in tax adn then borrowing another 10% GDP! That is totally ffing nuts. The idea behind working family tax credit is sound - you have kids etc, so you get high tax code emaing you pay less tax i.e. keep more of what you earn. No money flows from the state to the individual. The GB ffing nuts bit of the policy is letting people work a couple of days a week and then making up the difference of a 40/hr work week.
  16. Not sure its the cannot afford to live there but the absence of private sector workers i.e. it looks likes the local economy is mainly public sector or 18 hours/week cleaning an office or wiping an OAP's ar5e. It's nuts. GB almost got the majority of the voters on the state's teet. Then the money ran out ...
  17. Rant on: (Unless you have school age kids, you probably do not have full experience of how much GB has p1ssed it away) Bleating on the radio about the qualifying number or hours raising to 24/week - from 16/week if you were not sure. Family tax credit is one of the major planks in GB plan to sell your children in serfdom. It came from nothing to take vast percentage of tax. I've 2 kids at primary. I have a reasonably rough idea of what other parents do - general chit chat etc. I live in a the better end of nominally prosperous town - not London! The primary school is one the better i.e. parents lie and drive to get their kids there. Out of the 30 odd sets of parents in my sons class, I would guess 50% work in the public sector - or wholly state funded organisations. Another 30% do the the 16hr/week for the tax credit. About 10% are on out and out benefit. 10% work in the private sector - that's 3 if you cannot do the maths (15 parents public sector; 10 18hr/weeks; 3 doleys; 3 private sector). 30 years ago, when I was at primary school, the figures were along the lines of 70% private sector, 20% public,10% benefit. I'd guess 60% of the 30% have mortgages FFS! 16hr/week per couple. Thats 8hr each - thats less than I spent travelling to work in a week FFS! Oh and don't get me started on the single mum with 5 kids who's just had a boob job on the NHS so - she does not feel depressed (what she said to her GP); pull a squaddy (what she told my GF). Yes that is the truth. No I don't write for the Daily Mail.
  18. And remember that Economics - political economy to give it its full name - is an humanities degree pretending to be a science degree by having some sums in it - but not used very well. PPE is for thicky posh blokes as History of art is for thicky posh girls.
  19. On a similar subject, do the number of For Sales tally with the number of houses on Rightmove? Some towns appear to have many times the normal hosue for sale number. However the number of 'For Sales' do not tally. I think there's a conspiracy going on. Or maybe its just not wirth shoving a sign up these. 95% of buyers probably use the interweb.
  20. I'm not sure. There maybe a way round i.e. one system has this. Another system has that. Someone in the middle puts them together. Something has definitely change re: dole fraud - covering all the social payouts. I'm seeing loads in the paper. Never used to see any. That means: 1) They are reporting it now. Unlikely as the crime pages are an easy way for a local paper to pad out space. 2) There is more of it about. Possible. The benefit system is sooo complex nobody knows if they are fiddling - at the edges at least - or not. 3) Those hard working, highly skilled public sector workers have suddenly pulled their finger out. Sorry my sides have split. 4) There is a new system that is consolidating a lot info - claimants, PAYE info, private loans etc. Seems likely.
  21. I cannot comment about hte Midlands. I can comment about the Scarborough. The For Sales are piling up. Rightmove makes the size of the market easy to see. I'd guess there must 30% of private housing up for sale. Property Bee, Land reg prices and a quick google (for home business) remove the remaining veils. There's one house which a quick google shows is owned by a builder - well roofer. He wants 400K for it. Why bother making a bid. Wait for the repo.
  22. I remember hearing a quote from some dancey type band member from the mids 90s - before the interweb andall - he said 'The music business not only does not understand music, it does not understand business either. I remember some recent articles by Louis Werner from Feeder (?). She'd up on music and was trying to carve out a carerr in journalism - talk about frying pan to fire. Anyhow she said all there advance was p1ssed away by thick middle calss blokes who work in the record business. John Lydon was right. Never trust a hippy. I wish I remember that a few years ago when I paid for a virgin mobile. A few weeks later I started to get scam transactions - I only use my card occasionally on Amazon; never use it in London when eating out. Anyhow, 1 year later, I had to do the same thing (yes, I know) guess? Loads more fake transaction. I'll never use Virgin again - eps. their cheap Indian outsourcing ordering backend.
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