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grim up north

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About grim up north

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  1. I have been lurking for a long time since my last post, but something occurred to me last weekend when I was skiing in France which I feel the need to share. The day we arrived was the day of the general strike. I got thinking what would happen if we in the UK had a general strike to demand a general election before our children and grandchildrens futures are irreversibly mortgaged away by Gordon Brown. I know Maggie almost extinguished any vestage of direct action amongst the people, but would it work? Are the masses starting to realise how grim the future is going to be (not just up north
  2. thanks for that, whether serious or ironic, its the funniest thing I've read in ages!!
  3. my view is that as credit tightens and sentiment changes, it will be the second homes and investment properties that will be the first to go. People will want to protect the family home at all costs, so East Anglia, the South West, Florida, Spain etc and BTL properties will be hit first as second (third, fourth) properties are offloaded. This, along with repo's from the overstretched FTBs from the last couple of years and those that MEWed all their equity will probably be enough to get the crash going. Apologies for lurking for 5 months since my last post......I forgot my password
  4. Sorry, but that is one of the most stupid things I have EVER read. 1. If you bought for 200k on a nice low fixed rate, your rate will go up in time and you STILL PAID 200K. 2. If I then pay 150k after prices fall, I will most likely buy for cash and I STILL PAID 50K LESS THAN YOU. People who purely base the price they are willing to pay on their repayments while ignoring if the house is actually WORTH it are the FOOLS that have fuelled this boom. Good luck!
  5. I think the only thing more stupid than the Inland Revenue are the means people are advocating on here to avoid CGT. Good luck and sleep tight. Hope you haven't spent it all. They can even get you when your head is deep in the sand (even if you are speaking Arabic). Anyway, I paid mine, so no worries for me
  6. Just wait for that knock at the door. I know plenty of people that have had tax investigations on unrelated matters that have then delved into CGT. A tidy fine, the tax and lots of interest. Better to pay it and sleep at night IMHO. On another matter, CGT gets added to your overall income liability for the year, so, it may be carged at 10%, 22% or 40% (or a bit of each) depending on how much you've earned. If , however, you have earned nothing else in the year, you cannot use your personal tax allowance to set against it. You do get the £8800 CGT allowance however. Living in the property fo
  7. Its the same in Sheffield. University Accomodation Services says its the slowest year they can remeber for private landlords. There will be another 5000+ new build student flats ready for next summer - 1000+ empty BTL properties anyone?
  8. How many 'investors' are going to get stung by this scenario...... 1. 2002 - buy a BTL for 75k. 2. 2004 - notice its now 'worth' 150k, so release 40k equity for further investment/BMW X5/cosmetic surgery (delete as appropriate) 3. 2007 (?) faced with falling prices, decide to sell. Get 150k sale agreed (prices peaked at 175k in 2006). 4. Realise that the 40k equity that was released IS NOW SUBJECT TO 40% CAPITAL GAINS TAX!!!! Capital gains tax is going to get very interesting as BTL'ers try to bail out. How many will just not pay it? Lets hope HM Customs and Excise are going to be on the
  9. Last time it happened as a Prime Minister who had won 3 elections was losing the plot and being forced out of office. Can't see that happening again.......
  10. This is a disturbing thread which really has nothing to do with this website. HPI is a worldwide phenomenon, which will end as the money supply tightens and/or we get ramplant inflation. It is nothing to do with immigration IMO. If the HPC doesn't happen, I will be looking for other reasons rather than blaming jonny foreigner. In fact, I'd rather be wrong and priced out of the market forever than ever chose a doctor, dentist etc on the colour of their skin. And before anyway says it, I'd rather be PC than a loser that always looks for someone 'different' to blame when things don't go right
  11. if this was 2 years old and has only just been shown, it makes you wonder how many loss making developments they have filmed and not shown over the years, so as not to rock the boat. Now that sentiment has changed they might start seeing the light of day. Was the interest rate increase mentioned the last hike in August 2004?
  12. Exactly........lets all ask for a pay rise. Wage-push inflation anyone?
  13. I think that hits the nail on the head (the first nail in the HPI coffin that is).
  14. I see, very educational. So all we have to do to keep the HPI going is to increase the multiples and up, up and away the prices will go. Good job there is no such thing as irresponsible lending or a bubble may develop.
  15. probably more than you will say if the value of your London flat bought at the top of the market has come back down to realistic values by August 2007.
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