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House Price Crash Forum


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About Sisyphus

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    Norf Landan
  1. There has undoubtedly been a French property bubble but it was a much more recent phenomena in France. Two mitigating factors would be 1) they came from a low base, France has traditionally had a renting culture so part of the boom could be explained by a switch from tenancy to ownership, 2) the French mortgage market was much more tightly controlled, as far as I can tell self - cert mortgages were virtually inexistant and mortgage to income ratio rarely went beyond x3.5.
  2. Can someone point me to the relevant texts to back this up? We have the same problem, our 12month AST ends on April 17th. The landlords (advised by the letting agent) wish us to renew for a full 12 months with no break clause. They live abroad and are coming back in one year. So I can understand their reasoning. I personally don't want to commit to a full year's contract. Obviously if we move home we would have to do that anyway but I don't see why they should force my hand. My first choice is to revert to periodic tenancy but I'd be flexible and offer a two way two month notice. They are camping on their position. Can they expect me to leave on April 17th as the agent is trying to imply. No official notice has been served - do they have to do that even if the original AST expires on that date?
  3. City traders (the ones who make bonus) make money for their employers by buying assets when they are cheap and selling them when they are expensive. They will base their decisions on a number macro and micro criteria but a lot of it boils down to expected yields versus risk. I always find it funny how pundits assume that city bonus money will automatically end up in the London property market.
  4. British Gas are just the middle men between Russia (Gazprom) and you. In fact Gazprom want to bid for them in February. I reckon they'll wait until this Winter before they try again - they can always turn off the tap. I think we'llfind fewer objections to the government's nuclear ambitions the more prices rise.
  5. yes, they announced today that full year sales and pretax profits will beat analysts estimates. It seems that some investors had anticipated this and started buying a few days ago.
  6. I remember looking at a chart of Halifax monthly movements vs Nationwide's. It seemed to me that the Halifax has the more volatile index and that there already seemed to be a slight divergence. I wouldn't be surprised if their next release is a swing the other way. Ah here it is:
  7. what nationality are falklanders? je suis totalement d'accord mon ami - but it seems that some people come onto this forum with a different agenda
  8. so what do you look like? are you French? is that a royal "we" ? - I have no problem understanding it. They are culturally very French. how exactly do you do you understand French? an ethnicity? a geographical limitation on the map?
  9. they all 'appear' French to me, what are you trying to say?
  10. by 'no problem' I meant the shit won't hit the fan as long as prices continue to rise in real terms. Obviously if people only realise after 20 years, they'll have to sell up to pay off the capital. If prices fall in real terms before then, then they've got a massive problem.
  11. nothing wrong with the concept of IO mortgages per se. e.g. if you get an IO mortgage based on a fixed salary and pay off large chunks of capital through bonuses, they can be a useful means of paying off mortgages quickly without being penalised and without having a too hefty draw on one's monthly income. The problems arise when they are used purely on the basis of affordability and speculatively on future HPI. As would seem to be the case from anecdotal evidence. As long as house prices keep on rising in real terms, no problem.
  12. don't know about hamsters, but I had a smart guinea pig once but he wouldn't share any betting tips with me.
  13. So a 40% correction in real terms could be on the cards?
  14. precisely, very good chance that there won't be any veterans next year. re footy, I quote Bill Shankly :
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