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House Price Crash Forum

Smiley George

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Everything posted by Smiley George

  1. The comments don't seem to rate the idea I'm all for a change from council tax to something more progressive and to address the disparity's highlighted in the article. It's not perfect and I can see some challenges with house valuations and distribution of the tax across local councils. The scrapping of SDLT is also a very good idea, its one of the worst most unfair taxes levied in this country.
  2. Should be taxed massively and then eventually some form of compulsory purchase into a national housing association if left empty for a certain amount of time, say 2 years.
  3. What a day for property bears. Inflation sky rocketing. ONS HPI on the slide. BTL's getting a kicking. I might logoff early and head to the pub.
  4. These are asking prices remember, this report is actual sales - its very important to remember this. There are many chains completely jammed up and many will collapse as has already been widely reported. There will be many local variations and if supply is chronically low in your area, then it may take a while for things to change. However, there's been a definite uptick in supply where we're looking just this week. We've viewed one already, after making clear to the EA we would not be able to meet the asking price (our max 5% less than asking), we had a viewing same day. EA then called for feedback and suggested she could knock 10% of asking and if she did that would we buy it - we've pitched 15% and will wait and see.
  5. Both Halifax and Nationwide monthly reports are generally everywhere before you've finished your cornflakes. Just shows the MSM for what it is when it comes to HPI, ran and operated with people up to their necks in property. I really hope some of these people are taught a lesson and made to feel some pain.
  6. Supply suddenly jumped this week in my neck of woods. The past year has seen 2 or 3 new listings per month, this past week there have been 5. We’ve viewed one after telling EA we could only afford to pay 5% below asking, got a viewing next day. EA has not left us alone and rang again this morning and asked if they knocked 10% off would we buy it? Judging by other properties that have hit land registry in the area this year, if we can get to 15% we could be in business. Could be an interesting winter.
  7. Errmmmm……I’d say they’re failing quite substantially to get anywhere near that goal.
  8. Almost as if the numbers they present are meaningless and/or fudged in some way. Yet everyone laps them up as gospel.
  9. I was just having a browse around YouGov site and thought I'd see if there were any house price surveys ongoing I could stick my oar in to, only recent survey I could find is this little gem from 2018. So even back in 2018 52% of people would have stomached a 35% drop in house prices.
  10. This is where we may differ, I'd argue that if you want to own multiple houses and farm rent from tenants then it should be made a long term commitment - not one that can be reversed on a whim or change in circumstance. You want to reap the benefits of HPI and rents, then lets see some commitment. Oh and here's some extra taxes to pay whilst we're at it.
  11. I feel your pain mate. In the 10 years we've been renting we've had two landlords pull the rug from under us and sell up. The UK is completely broken when it comes to how it provides shelter for its population. Read the above and then look at that DM article posted in another thread, describing property flippers/BTLers who've profited from the Pandemic property FOMO as BRAVE!!!. They are not brave, they are selfish, greedy c***ts who should be outed as such, not lorded over.
  12. Correct. Had I had the foresight of others and stuck a couple of grand in a few years back, but now, I might as well head to the casino.
  13. I have considered crypto, but the volatility and scope for price manipulation is ridiculous, to put a chunk of my deposit into crypto would be reckless - however, I may soon be out of options. I'm interested why you would consider crypto as not rigged, when the likes of Elon Musk can influence massive market swings just by tweeting a couple of emojis?
  14. We've now been renting for 10 years, we rented initially as I had decided to build a new business with some colleagues and my income for the first 5 or 6 years was not regular and I had to dip into savings every now and then to keep things on the straight and narrow. Gradually the business became more and more successful and my wages rose accordingly, but never quite enough to get that mortgage big enough for the nice 3/4 bed family home. Fast forward a few more years and I'm now top 5% earner in the UK, have a six figure deposit saved, yet those same family homes are tantalisingly out of reach. I'm 48 and every month that passes is a month less on the mortgage term we can get. I'm not after sympathy, but we're coming to the point where we're going to have to make a decision to either move to a cheaper area and all the upheaval that will mean for the kids, taking them out of the schools and friendship groups they've made etc. There are other reasons we need to stay where we are as in-laws now need round the clock help after mother-in-law being diagnosed with dementia, and we're the only ones close enough to help, so a massive impact on them if we had to up sticks and move 50 miles. Or...rent for the rest of our lives, unless I've missed another option. I'm open to ideas (and not fecking Bitcoin BTW)
  15. Beyond a sick joke now. Felt quite depressed when I heard this on the radio this morning.
  16. Someone hasn't got the memo....had to laugh when I saw the price history, its in Walton on Thames 😂
  17. I know 3 families who have moved house this year, every single one has said the SDLT holiday was the main reason. it’s utter horseshit and I’m not surprised re the BBC, it definitely seems like someone high up in there has an agenda or is in the pocket of Rishi and co.
  18. Another day, another house price statistic/article; it's like some kind of orchestrated PsyOp on the British public, no wonder we're all obsessed with HPI/C. Is there any other country in the world that behaves in a similar way?
  19. UK to welcome 20,000 Afghans amid Taliban takeover https://www.bbc.co.uk/news/uk-58250211 Loads of room here, come on in.
  20. Haven’t seen one of these, you must sacrifice everything to buy a “smaller-than-usual apartment”, enjoy 🙂 https://www.standard.co.uk/homesandproperty/buying-mortgages/how-i-bought-flat-london-first-time-buyer-b950819.html?amp
  21. “Rate setters can’t ignore house price bubble they have helped to inflate“ I bet they can, they’ve been doing it very well for years. As long as they’re vigilant, we’ll all be fine.
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