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House Price Crash Forum


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About ST675R

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    HPC Newbie
  1. I have to say this thought did cross my mind. We rent an industrial unit for our business which is 'worth' around 120K so 50K would be nearly enough for 50% deposit (as I understand it what the depsits normally are) There are brand new empty units on our estate. The fly in the ointment is after the first year we would end up paying a lot more back every month that we do now in rent so not really of any benefit especially considering commercial property generally depreciates. With the renting I can just keep moving to new units as and when my old one gets ratty.
  2. Couldn't agree more, I'm a lurker here but really felt like I could have written crumblingcon's post myself. I'm an online seller via my own website and various marketplaces. It's like constantly studying for a degree to keep up with policy changes, New programs, tax etc etc. The idea that someone could just borrow some money and sit back and earn what on the face of it seems like amazing money without doing anything particularly productive seems naive. I've lost count of the number of times I've had people preaching to me about their property savvy while using every fallacy under the sun.
  3. Slightly O/T but I was watching BBC Business this morning and they were discussing the Snap IPO. They had some professional investor guy on there and they asked him what the best investment he ever made was... His reply.. 'my house' Cue breakfast thrown at the TV!
  4. Totally this. You couldn't make it up, seems no-one has learned anything.
  5. A valid point I never considered to be honest. Surely their usual MO of overvaluing to get the deal surely makes this tricky as the agents trying to get sellers to reduce their expectations are likely to be the ones that are given less instructions. I agree about greedy people though, they often don't fully understand the market price for something so can easily have their greed turned against them by someone that does.
  6. Thanks, that puts my mind at rest a little. I can't wait for it to hit them! I've had numerous conversations with people who still think BTL is a great idea and want to get into it... until I explain what is coming.... Even then some of them don't understand but that's their problem not mine.
  7. I've no doubt this is true. Speaking to my brother recently about his new mortgage it all sounded really shady. Knowing his circumstances there is no way he should be able to borrow what he is. Reminds me of the big short. If it's all built on fictitious incomes etc the whole thing will just be even more of a horror show when the music finally does stop. I'm also worried that S24 will be watered down or scrapped, the BTL mob are making a lot of noise about this and even if their logic is flawed if no-one is calling them on it then it could just happen. Reading the comments on that Shelter page there is nobody stating the obvious that if they are forced to sell then someone will have to buy and volumes will increase / prices will fall.
  8. It does seem that 'liberal' is a bit of a dirty word these days. The definition is: Willing to respect or accept behaviour or opinions different from one's own; open to new ideas. Sounds OK to me. It's almost as if it's the new 'communism'. No doubt communism is a flawed concept in the light of actual human behaviour but your average American when asked what communism is would probably tell you it's an inherently evil idea similar to satanism. Having said all of that I think the thing that winds me up the most about current politics is that you have to nail your flag to one mast or the other, To me this is just a way to serve elites. I don't agree with any one hard and fast ideology as different questions have different answers.
  9. Great idea. My white paper would be a white sentence: 'raise interest rates to 5%' Job done
  10. I've been lurking on this site for years but thought I should really post something in here to introduce myself. I genuinely believe this site has kept me sane over the past few years. I'm in West Sussex and so slap bang in the middle of insane house price central. Everyone I know (and I mean literally everyone, friends, family, and even to a certain extent my other half) believe I am a fantasist and that my views on house prices and the issues surrounding it are some kind of bizarre anti establishment thing. Currently I tell people with a straight face that I'm waiting for the apocalypse before I buy. They usually just laugh... Sometimes they try to trot out the same old crap but quickly realise that I understand the situation better than they do. My view is that when credit is cheap is the time to be building up savings and not borrowing. I run my own business and am doing all I can to build up my balance sheet. I've got literally zero debt. I really hope something changes in this country but I have to say that as I watch the white paper on housing being announced today it's dawning on me that literally everything will be done to protect the mad gainz. I wonder how many politicians are sat on big housing equity?
  11. I normally lurk but I had to reply to this.... Words fail me! Who in their right mind would pay 400K for that?
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