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House Price Crash Forum


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About buy_hi_sell_lo

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  1. Is that £1m in today's money or £1m in 30/40 years time, being the equivalent of tuppence ha'penny in today's money?
  2. I've been struggling for years to get my head around how some people just won't accept that house prices are not a one-way bet. I used to think it was because they didn't know the other side of the argument, or haven't lived through previous crashes/recessions etc. However, a conversation last night with an old friend has left me speechless. I don't know whether to laugh or cry. In a nutshell: Guy bought his house last year with a very large helping hand from the bank of mum & dad for just shy of £600k which set the ceiling price for the street (as well as being 100% of asking price).
  3. one of my personal favourites from Tesco. I've got a few other examples on the phone. I haven't got round to sending them to their CEO yet asking whether he employs muppets to do his pricing or if he thinks his customers are the muppets. Another trick they regularly employ is the BOGOF. As the cheapest item is free, I always put the expensive ones through together, settle up & then get them to scan through the cheapest - otherwise you get screwed - e.g. 2 items at £10 each & 2 at £4 each all on BOGOF - put them all through together & you pay £20, put them through as I do &am
  4. http://news.bbc.co.uk/1/hi/talking_point/8611961.stm "Money Watch, a new three part series for BBC2, wants to speak to people thinking about buying a house. It is the biggest single investment that most of us will make in our life. But should we make it with our investment head on? Or should we listen to our home-loving heart? We want to speak to a couple/family buying a house for the long term, which they hope will be their best possible financial investment. This would include first time buyers who are keen to get on to the property ladder, as well as someone moving up the property ladder
  5. Just came across this little gem on rightmove - not the house but the headline. I'm tempted to call in the morning and ask what is was priced to do before - maybe priced to humour, or priced to take the p155, or maybe priced to fill a blind spot in the shop window - btw it's still overpriced by at least 40%. I keep hearing about the recovereh but here in south Manchester all I see is the same properties that have been on for 18 Months + with the odd token reduction every now & then moving from agent to agent. Every now & then there's a fanfare from an agent proclaiming the bargain o
  6. Got sent this recently, and I really think it should be a mandatory topic in schools. The look on people's faces as the penny drops when they start to think through the answer to "Who has stolen the $3 from the country's economy?" - the $3 never existed! I really think that the powers that be don't want the sheeple to have even this level of rudimentary grasp of finance & economics. The following story is an analogy to a bubble economy. It was sent originally by a Professor of Finance. It was developed to help students understand the Senate testimony by Enron whistle-blower Sheron Watk
  7. Lol! I'm 37 & whilst I don't remember the 70's recession I recall me & my mates trying to peel off price stickers on sweets to make our pocket money go further! The old price was always less than the new price. Early 80's I remember my folks' business doing ok & though money was tight we weren't left wanting for much. Late 80's were good. Business was booming by now & they borrowed hard & expanded fast. Early 90's it all started going pear shaped. They pretty much lost everything including their home in 97. Everything they'd grafted 30 years for. That was my lesson in ho
  8. This is where you're going wrong. As you earn 4 times as much as the Muppets you need to be looking at houses that cost 4X. Therefore you need to be looking at houses "worth" £600K. It's people like you staying out of the market that are to blame for this mess we're in - too much time getting an education has neutered your cojones - no sense of social responsibility - you gotta BUY BUY BUY. - that's the kind of advice I was getting from my extended family (aka circle of mistrust) over the last few years - "look at cousin Bob - has a McJob on 15K and a proud owner of a few lie-to-buy-to-
  9. GORDON BROWN was visiting a primary school and he visited one of the classes. They were in the middle of a discussion related to words and their meanings. The teacher asked Mr. BROWN if he would like to lead the discussion on the word 'tragedy'. So the illustrious leader asked the class for an example of a 'tragedy'. A little boy stood up and offered: 'If my best friend, who lives on a farm, is playing in the field & a tractor runs over him and kills him, that would be a 'tragedy..' No, said GORDON - that would be an accident.' A little girl raised her hand: 'If a school bus carry
  10. - another example of impressive, quality reporting from the beeb - both "about" 40 years old and have been married for 40 years. That place looks better constructed than some of the new build sh!te that's been springing up here the last few years.
  11. Britain going bust just landed in my spam folder - it's incredible how these con merchants have turned full-circle. These [email protected] were ramping the "become a property mogul on the back of the bank's money" schemes until a few months ago. Now they're the doom-mongers who saw the bust coming and if you just follow their advice (all for a measly few quid) you too can benefit from their infinite wisdom and become a squillionaire in no time. I find it weirdly offensive and amusing in equal measure - how many people will get sucked into these kind of schemes I wonder? I'm just amazed that there
  12. Overpriced hole On the market since Autumn 2006 with a 10K drop earlier this year to a bargain £390K. Funny thing is I know someone who offered them £375k 18 months ago (mad, I know - "but it's Wilmslow, and prices only ever go up here....") and was turned down flat! Saw them a few weeks ago and they told me what a lucky escape they had getting turned down!
  13. I know it's not the Monkees, but couldn't resist joining in - can't believe it took this for me to post again after lurking for so many years! By the way if anyone's interested never did buy a mortgage in the end - stayed put in rented (750pcm vs £375K asking price - a no-brainer) to the tune of The Drugs Don't Work by The Verve: All this talk of getting sold It's getting me down my love Like a cat in a bag, waiting to drown This price is comin' down And I hope you're thinking of me As you lay down your pride Now the banks don't work They just make it worse But I know they'll never
  14. Apologies for the long-winded post - just needed to let off some steam - I just can't believe how blind people are to the fact that the whole housing market is completely screwed. Whilst I'm totally convinced that the crash is nigh, I'm looking to buy a home for my family for a number of reasons - stability, peace (from the nagging missus), etc. - the main thing being that whatever we buy now will be our family home for at least the next 20 years - spent long enough moving around - won't be heavily leveraged - so pretty well insulated from market movements for the next few years. I'm lookin
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