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House Price Crash Forum

flb

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  1. They haven't lost control because they never controlled it. No government has. I don't think economy is your strong point. 1. Yes, it will. If you're a homeowner... worst case scenario, if you fall on hard times, you can release some equity or sell or get a lodger or whatever. 2. There is no "99%". IIRC, 63% of Brits are homeowners. So you might be referring to 37%, not 99%. You need to understand that there' no "99%" here. 3. If anything, you're the...say....10%. The 10% brainwashed people. "Social Justice League"? The best way of making sure that literally nobody with a brain is willing to listen is to bring up "social justice" - the same old excuse of the dumb & lazy. If we had social justice, there'd be no Labour voters left, they'd all starve. No, it hasn't. Some people may be looking at a bit of a downgrade since 2016 - Brexit was the lie everyone with a brain knew it would be. But I wouldn't call it hell. While I could complain about certain things, I'd have to say that ... from a financial point of view, things have never been better for me. It's valid for my friends as well (we're all employed, one way or another) The only thing that's on its way is some more pain for the people who have the wrong values until they get tired of the pain and start cleaning up their act. This - so much. I'm a white man and I have a job. Labour isn't offering me a damn thing, other than some extra hate. It's the anti-white, anti-men, anti-work party. It's going to be a freezing day in hell before anyone in my family votes Labour. Labour can keep getting the minority vote, the unemployed vote and the braindead vote - there's nothing anyone can do about that. Fortunately that keeps them on in opposition. I moved to England because I wanted to live in England. If I wanted to live in Karachi, I would've moved there. ...and let's not even discuss Diane Abbott.
  2. It's not going to be 10% or 12%. 20% at least.
  3. If you could have done that, you would've. Rich people most certainly did - how do you think they stay rich? For the past 3 years the stock market has been pretty much a guaranteed win - minim of +5%/year, but more likely 10%-20%. I've put in 20k (the ISA limit) in 2020-2021 (in late 2020, to be precise, something like October). By April 2021 I was at +10%. I put in 20k more (again, the ISA limit) in April 2021. So for 2021-2022 (it's not April yet, but whatever), I'm at +20%. It's basically free money if banks will lend you 1M+ at 1%. Of course, there's a bit of an issue with the fact that they wouldn't lend ME that amount
  4. Lay off the crack, bro. London prices have been going up by a lot. https://www.gov.uk/government/news/uk-house-price-index-for-october-2021 . SOME flats (short lease, greenfell-type etc) might be cheaper due to obvious reasons. You can pick any area in (Greater) London and I suspect that you'll see quite a hike. Random examples (1 minute to find them, I'm sure you can find more) https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=75223275&sale=12074701&country=england https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=112206236&sale=14292379&country=england Not exactly what I'd call "falling for ~5 years". I mean...I really don't care about London. I've been working from home since 2015 or 2016. I can't remember. If it helps, I have no intention of moving there. Prices are only going to come down (and not a lot) when IRs go over 5% (BoE)...and they stay there for a long time (two of my friends are on 1.5% fixed for 10 years, so eh). Until then, no chance. At the moment, they're still going up. 0.25% "hikes" with 15-20% real inflation...nah, no chance. With this type of inflation, cash is aids and everyone's trying to park it somewhere "safe", so get ready for higher prices. Where are all these people who are forced to sell due to "higher IRs, no job, whatever"? I sure can't see them on the market and I don't see prices falling for the past 5 years. If anything, they went up - by a lot. The stamp duty "holiday" pushed volumes (and prices) much higher. Then inflation kicked in - and obviously prices went up again. It would take 5+ years of over 5% BoE IR AND lower inflation AND the pound "appreciation" (good luck with that) for prices to START falling - and even then I wouldn't be SURE of it. To me it's just funny to see that anyone still parrots the "it's gonna crash" thing after so much time. I really hope you (not you personally, I'm referring to the people here) already bought. For your sake, as it were. As for London...yeah, it's multicultural - you can choose to be beheaded with a machete, stabbed or have some acid thrown at you, depending on which culture dominates the neighbourhood you happen to be in; unless, of course, you're a girl, in which case there are several other options. Certain laws prevent me from saying more in that regard. I don't know if you mean income-wise (that has changed; you do realise that post is from 2017, right? a lot can change in 5 years) or "bought for 250k, it's now 400k". Either way, I wouldn't know.
  5. It's not going to happen. IF a crash does happen, it's going to be mmmmmaybe 10%, probably less. People have been talking about that 20%-50% "crash" for at least 6 years on this forum. At this point, even if prices crashed by 50%, those who didn't buy would still be worse off than those who did (when you factor in the house price increase and the amount of money wasted on rent over the years). I'm guessing the people in charge of this forum simply forgot to shut down the server. I'd welcome a crash (I'd be HAPPY with 20%; 50% would be too good to be true) because I'm looking to buy another house, but yeah...it's not going to happen. With REAL inflation at ~20% (officially just over 6% though), it's just... dumb to expect the price of REAL assets to crash. You print money -> the price of real assets goes up. It's that simple. I think it's more likely to see a 20% increase. I bought this house in 2017 for 250k. I paid it off in 2020. Prices on my street were at 400k last time I checked. Assume a 50% crash did happen (I'd love that right now) and houses go to...200k. Right. It's been 5 years. I would've spent the 50k difference on rent in the past 5 years. Meh. Links: When I bought it: When I paid it off: Not gloating, but if people on this forum really believed this "house price crash" thing...they've been fooled...or rather they've been fooling themselves. I'd love a crash (I'd buy just about any house on my street at 350k now, no questions asked), like I said, but it's not going to happen. Mark my words, in 2023 you'll be seeing house prices at least 20% higher than they are now. Feel free to quote this next year. If you're having problems understanding the concept, look at your energy (gas/electricity) bills in May and in November. I'll just leave this here: So...good luck with the crash.
  6. Just curious, how much do you pay for that house, how much do you still owe the bank and how much do you earn? If you're willing to tell me, of course...
  7. Well, I too would be very generous with Bill Gates' money. When it comes to my own, I think 100k/year might be a bit too generous for someone like me. I can understand supporting one person who can't work, but I kind of think they wouldn't need that much - and it certainly doesn't feel like I'm using 100k in public services either, especially if I step outside and see the 120421 potholes that haven't been fixed in the past 5 years. It's nice the the council is increasing council tax to support older people - which are not related to me in any way whatsoever - though. If you really do feel that way, though, I would ask that you put your money where your mouth is. Go ahead, spend 6 months (it doesn't take longer to learn my "trade") make this money and try to look happy when you're taxed. ...but I'm guessing your schedule is kind of too busy for that, right? Yes, indeed, that's EXACTLY how it works. You buy a ticket and you win a job. It's all luck.
  8. ...I would rather not pay over 10% in tax, but that's just me.
  9. Oh. Where do you think they're getting the money from? Surely you don't think it's Boris paying those benefits from his own pocket? Do you think it's got anything to do with this? It kind of seems to me like I'm supporting two families (two families, not two people) and I'm not exactly sure why I supposedly owe them a living. No, I don't resent them, I don't hate them, I don't ... anything "them", but it's a bit difficult for me to be fan of forced socialism under the circumstances.
  10. I don't resent them. I just don't understand why everyone assumes that I owe them a living.
  11. What I'd like to know is why nobody takes into account the other option: 0 type of benefits. No UBI, no UC, nothing. Now, it's not that I hate anyone, because I don't. I just don't think that I owe anyone a living, that's all.
  12. Exactly what I was saying. People working with food banks go like "omg, it's shameful, the demand rises year on year". Well yeah, you're the ones creating the demand...
  13. I never suggested that either. All I said was that people use them because they (food banks) exist. You've got all the time in the world and you can either work for food or you can get it free of charge if you go through some hoops. Of course a lot of people are going to choose the free option - because it only costs time and time is what they've got. I don't envy them, I don't look down etc. What I'm saying is that food banks are the kind of "product" that create the demand. Child poverty was much higher, as example, before Tony Blair and food banks weren't a thing. Did children starve in Britain in 1980, for example? No. Were food banks a thing? No. But as soon as they re-appeared (there were some in the previous century), they created a demand for themselves, a demand that simply keeps growing because they exist.
  14. Erm, two reasons: - someone has to pay you to do a job. Who? Councils etc are complaining about lacking funds. So... - some people on benefits CAN'T work (disabilities, sickness etc).
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