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House Price Crash Forum


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About Bonkers

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  1. I cannot understand why people would complain when they cannot manage their own balances. It is not rocket science to know when your in the red, I think the problem today is complacency when people think "Oh never mind I have the overdraft to fall back on". I doubt many people realize(those that use overdrafts) that it isn't actually their money. I wish sometimes we lived in the old days where if you owed money, the consequences where dire and warranted a visit from big fella with a bat. Spend only what you have, else pay for the privilege of borrowing money if you have to.
  2. bankrupcy is legalized theft? question that always gets me is who's 30k did she blow?
  3. How is he contridicting himself? basically first one was markets dont seem to bothered(albiet down a tad bit)....but underlying fact is he is right, today alot of money around the world has been essentially flushed down the loo. In all he is just interpreting the market changes but the fact remains there is alot of lost money today.
  4. Is the more worring thing is... we need a bunker for all this waste,ok fair play. The question is, where is it being stored now?
  5. http://www.libertydollar.org/ and swiss francs are interesting to me at the moment because they are backed by something you can hold and feel gold and silver, paper after all is just what it is paper. I dont think we would go to a gold system per se as to carry gold around, but possibly reform back to the two mentioned above. I do think if Iran gets its Oil Bourse then the dollar will fall, hense my interest in currency and protecting my purchasing power. just food for thought from me at the moment.
  6. If you were on control of government books, and wanted to win the next election Iam sure you could rig the books to your own advantage after all who does the goverment have to own up to? The People? no not really because what people dont understand wont hurt them. with everything it always comes out as OnlyMe said "You can hide inflaiton but you cannot hide its effects."
  7. I know of 3 FTB females that have purchased this year. The strange thing is they are all doing overtime to do their places up. Now I would have thought that when I buy my first place, I would be comfortable that when I purchased I would have a budget to atleast do the place up to the point where it is a place to come and relax after work. They seem to me, that when they have purchased they havnt taken into account the extra's that come with doing a property up. (As far as I know they have not brought to make profit from these places). Does anyone else know of others that have purchased in the alst six months and are working "overtime" to find that extra money to plow into their property? for those who want to do some maths All purchased places this quarter. 2 of these propertys where purchased at 72k 1 of these earns 15,3k and presumable put down a 10k deposit (but is doing overtime, so leads me to belive they have no savings to not be able avoid doing overtime.) The other 18k, and put down no deposit and IO morgage. the 3rd wont really tell me how much they paid for the property but said they had £10 to last them to end of the month last period. ____ Thought Id just put some "real" examples of that FTBS are doing and what Ive noticed. If anyone would like to know any other figures post some questions and Ill get them from these 3 people if the interest is there.
  8. Hey Donnie Take some comfort that you arnt alone I had to face someone younger than me, ask the question I get asked now and again.. "You still living with your folks?" which Iam sure you can guess the reply. This is normally followed by a some remark that always sounds as if Iam incappable of any sort of independance/freedom/responsibility so forth. Iam far from those things as I have the freedom to pick and and go, no debts all assests paid for in full and although to me a small sum but a pot of savings. Iam sure you are along the same lines, just because we arn't doing what the sheeple are doing. Our intensions are the same. We want to provide a comfortable,worry free life for those close to us without financial diffaculties and stress. People only say these things so they have re-assurence that you will do what they are doing so when the boat sinks they wont be alone. Id rather not buy that ticket to the boat, rather face the psychological abuse now then to be sitting in my overvalued pile of bricks and mortar. Cursing life for all the missgivings and blaming other people for my mis-fortune even though the choice was mine. All in all if we "miss the boat" Iam sure there will be another boat just in another 10 years time...
  9. Time's a ticking, when the panic sets "in" en masse... it'll take awhile I rekon as people are oblivious to the signs right in front of them a few more stories like this and who knows where the limit is. Kudos to The Independent. tis a shame though that the bulk of their story though outlines how there are always those who win by the suffering of others.
  10. My thought on the trigger, plenty to go round on HPC, my thoery enjoy! Looking at the economy and the people in it I feel house prices have been fueled by easy money(100%) morgages.(Amoung other things) I belive its not when the people stop and think "Hey wheres all this free money comming from?" because I doubt they will come to that realization unless the have taken the route of bankrupcy, and only then come to realize something was wrong. I feel that unless some global trigger shocks the economy first, I feel that domestically that it will be the banks that decide when the crash comes. My reason for this is that when more and more people cannot afford to make repayments due the size of their morgages the banks will step back and say well that was fun while it lasted, after all why would a bank want to keep lending when the repayments arnt guareented by the masses? So in short when the banks feel enough is enough no more profit to be made will be a decideing factor unless IR's beat them to it. But even then they will have seen that comming after all banks are in the business to know when enough is enough. It may seem like a shot in the dark but news on banks removing BTL morgages on new builds is a start, and when we see credit card companies removing 0% interest free options will be a turning point.
  11. In reality the following I assume would happen... Jodie, would be £15 out of pocket further edged out of the market. Tim, would throw the leaflet away. George being of that age would take the time to browse the leafet and dismiss it for some scam, still beliveing in the fact his house was truley worth £170K and MEW it for a new shiny car. In a perfect world would be a nice outcome, but I know of 2 single FTB's that have brought and I dont belive for one moment the bricks and mortar are worth the amount they paid for. I did show one of them HPC website and they just looked at it for a mere minute and shrugged it off without a word as if there wasnt anything to be learnt or informative. Ignorance is bliss? P.s. On a positive note this site is/are those leafets except people have to find it, instead of it being handed to them.
  12. @Surrey cash buyer Something to add to your argument... India & China Oil Interests Russia & Ukraine No comment from me as the Oil situation is open-ended due to status as a needed essential commodity(although that says it all) and that unless someone finds more reserves(supply) or better refining techniques iam sure the price will either steady out or slowly rise. Edit: I couldnt help myself some interesting data that I would agree affects the price of oil and on some level affects the inflationary prices that we see now. Note the 19 month period disruption in Iraq. Oil Disruptions Another war would trigger it, oil at $80-90 a barrel?. May set things in motion alot quicker.
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