tahoma
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Posts posted by tahoma
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Fair point - although interest on a mortgage in unavoidable. I agree that selling to rent is a decision that will come good in the end (I STRed myself in 04). However, I think it is too early to feel smug. The news coming through at the moment is not positive for us.
Believe me, I'm not smug, although I too STR'd last year. A couple of my friends have mortgaged themselves to the eyeballs recently, and I do worry that a rise in interest rates along with a drop in house prices could be devastating for them.
The news coming through is not particularly 'positive' for anyone. As other posters have pointed out, a house price correction/crash/whatever will bring negative effects to the economy as a whole, not just cheap houses for the patient.
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Your capital growth will have to massively outstrip HPI to make the decision worthwhile, unless you have enought to buy a property outright. 15pc growth on a 10k deposit is the equivalent to a meagre 1pc rise on a 150k property.
And of course, the interest you would PAY on that £150K mortgage does not come into the equation. Not to mention the potential negative equity.
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agreed, I think that's four fans for sure on this forum - maybe we should link to the Frank Black forum.....
Haven't got that DVD yet, but did catch them at Brixton last year. I think their intelligence and individuality is reflected in the general independent thinking on this forum, if that doesn't sound too 'Pseud's corner'....
and err, they come from America (phew, thought I was getting OT for a minute there....)
TLM
Lucky swine, I have now missed two opportunities to see them live. I couldn't go and see them at Loolapalooza last year as my house sale was dragging on. Bah.
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On a side issue, aren't the Pixies superb? Just got their reunion tour DVD.
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For some of us the hope was for debate about how/when/where a HPC/correction would occur, and to discover what is happening in other areas of UK. It is also great for getting all the latest news together in one place. But If "evidence" suggests at this moment that an area where someone lives/has knowledge of is not crashing i.e. City "favoured" areas of London, then what is wrong with them questioning the doom and gloom scenario painted by some on this site.
From home page: We have 3,851 registered members
Most users ever online was 827 on Feb 28 2006, 12:27 PM.
Less than 4000 people......do you not question why this figure is so low? Even veteran members no longer seem to post? And have posted the reasons why. If everyone is saying "Yes" then this forum becomes a cult................. and IMHO looses much credibility.
I see what you mean. There is nothing wrong with questioning opinions, I was referring to those who are outright trolls. What is their motivation?
I'm not surprised that there are less than 4000 registered users - this site represents a minority view. It also does not surprise me that the peak users online was relatively recent. As we edge nearer the precipice - wherever that is - more and more people will come here. Once we are over it the webmaster may have to upgrade their server to cope with the hits from users old and new.
As another poster here has pointed out, once the crash happens it will be seen as the most inevitable thing in history.
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I've only been coming here a month, and it's fairly obvious why this site exists. It's a forum for like-minded individuals who believe that a house price crash is going to occur in the near future. Thats why they visit a website with a URL like www.housepricecrash.co.uk. They may have various reasons for being here, such as being a frustrated FTB, impatient STR, etc etc etc. It's pleasant to coverse with like minded people, and read related material. That's why I come here.
The only real question is the motivation others come here to troll and express their frustration at the opinions of the group above?. Is it corporate vested interests, like that guy 'Zorn' who posted from Rightmove's domain? Or is it just individuals, no names mentioned, who just seem to be frustrated that others have the temerity, the chutzpah, to question their lemming-like instincts. Then they whine that they are being flamed in return.
In short, why don't they go and start a site at www.everythingisrosyinukproperty.co.uk or www.housesandtulipsalwaysgoup.co.uk.
Then we could go and troll there.
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I think the current housing market is like a shark, it has to keep moving forward or it dies. For the last 7 or-so years, you could be almost guaranteed that by the time the ink was dry on the contract the house in question was 'worth' a few grand more, so people did not mind paying ever-rising prices.
Exactly the opposite is about to come into effect. If prices are stagnant or dropping, buyers will want a 'buffer' so they are not going to lose too much in a drop, or stay at the stagnation point. So rather than buyers chasing the vendors price up, the vendors will have to chase the buyers offer down. Or not sell.
That is the sort of decision-making process typical home buyers engage in. Macroeconomic theory has nothing to do with whether they want to buy or not; it is more about the perceived immediate gain or loss.
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Why not ring them up and thank them for helping you avoid at least £100K of negative equity?
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Just look at your thread's title, for God's sake.
Look at your screen name, for god's sake. You don't seem too 'casual', and you have done alot more with your 2077 posts here than 'observe'.
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Yep, RBs threads are always a must read. Keep it up!
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man that paragraph is so spooky...
substitute blackpoo for southend or hastings and that coulda been my own
does anyone remember 'rygar' or 'wonder boy' ?
i'd love to get my hands on those games now...
There is an emulator called MAME which lets you play those games and any other you care to remember from that era. You download it, and then find the game ROM on line, just a few K. Bomberman was a favourite of mine.
Apologies for wandering off topic!
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Thanks for the advice MrShed, this could be really useful.
There are other mitigating circumstances for us, such as the fact the agent agreed to have the flat cleaned when my flatmate first arrived and this never happened. He even agreed to credit us a month of rent to compensate my flatmate for cleaning the place himself! Needless to say, this never appeared.
Not to mention the fact that blinds had been torn down and returned broken, along with the farce of the 'integrated' sound system that the landlord 'de-integrated'. Also, apparently the cord on the light in the bathroom is 'dirty'. Result? The landlord wants a completely new switch unit. Thats the sort of thing we are talking about here.
In hindsight, we have acted in goodwill and given away too much, and I think the Landlord now thinks he can take us all the way. I have drafted a letter which we are sending the agent, and is presentable in court. I'll amend this to include the points you have raised.
I'll post with progress...
Regards,
T
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Doing nicely too - bought Oct 98, sold Oct 2005. Perfick. Now renting.
Which way would people like to check how 'rich' they are?
a: By believing politicians and EAs
b: By logging onto ING Direct and checking the latest balance, after daily compounded interest (soon to go up)
I prefer... b.
Anyone disagree?
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If the landlord has no copy of the inventory signed by yourselves(which he appears to say, and which actually works against him) then he can make no deductions. Period.
MrShed,
I would be eternally grateful if you could point me in the direction of some official material stating this - it could make my life over the next few weeks much much easier!
Regards,
T.
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Simple answer to this query. Did you have a full inventory, which you signed when you entered the property? With regards to the agent, there is a common misbelief that they act neutrally. The agent acts on behalf of the landlord, and as such will almost always side with the landlord. You as a tenant have absolutely no tie with the agent whatsoever. Anyway....your answer to the question I have put above will allow me to answer all of your questions above.
My flatmate (who arrived at the flat first) made a full, amended inventory and sent it to the agent. He claims not to have received this. He seems like an honest guy, but...
T.
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What do you expect? They're just a bunch of guys with Firsts in Greats. That doesn't mean they know any damned thing that is useful. I don't suppose they have any real-world technical knowledge at all, and they are probably disdainful of those who do. The City is just the same culture of aloof arrogance found in pre-revolutionary France and any other corruption that sustains its pre-eminence without taking active part in the creation of wealth.
Spot on Malco. If you have not read the book referenced in my signature, I am sure you would enjoy it!
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Thanks for the advice, I am putting together a letter to the agent. They do seem to see our point of view; we have already paid £100 for ALL the carpets to be cleaned and there is no other damage we are accountable for. We did actually go to the Police immediately after the threats and have an incident number, which could run in our favour should this go to court.
Beware people - they are out there! It's amazing what a huge amount of negative equity can do to people
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Hello all,
I've just moved out of a flat and the landlord is basically angling to keep the deposit. Here are the circumstances (apologies for verbosity):
1. When my flatmate and I first left, we had not had time to clean fully and there was a mark on the carpet from a coffee spill, which we have since paid to have professionally cleaned. However, the carpet was already filthy with what looked like oil stains. The landlord is angling for a new carpet.
2. My flatmate and I then returned to the flat, and made it far cleaner than when we moved in. While we were there, the landlord appeared with a bouncer type, and basically stated that if we did not 'sort it all out' he would 'come after us, and not through the courts' as he is a 'nasty b*stard' and he knows some 'right nasty b*stards'. Completely over the top, we were there cleaning up! The agent admitted when my flatmate moved in (a month before me) that the flat needed cleaning, which was supposed to be done while he was on holiday but never occurred.
3. He now claims the wiring for the integrated home cinema system is 'damaged'. When we first moved into the flat, he had ripped out the controller boxes and tried to charge us £100 to 'hire' them back. We pointed out the flat had been first shown as featuring a home cinema system, so he had no right to charge extra. He relented, and gave us the boxes although I had to spend 3 hours fiddling with the wires he broke to get it to work. I did not 'damage' the wires in any way, but he now claims we did.
4. My flatmate insisted on bringing a cat to the flat, despite no animals on the contract. The cleaner of the flat stated there had been an animal there, and my flatmate has now admitted this to the agent.
5. The agent does not seem to be acting in our interests - he holds the deposit, and appears to be intimidated by the landlord. My flatmate sent a fault list to the agent after moving in, pointing out that the carpets were filthy along with other faults. The agent claims not to have received this.
I know we are not completely innocent in this (cat, stain on already filthy carpet) but could anyone advise me on the best course of action?
Regards,
T
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Hello all,
This is my first post so please be gentle. I have just moved out of a rented 'luxury' Nottingham centre flat, and looked at the prices out of interest (NG1 6GX):
There is currently a forest of EA signs outside, but they are not moving. They seem to be asking similar prices to those paid in 2002! I can confirm there have been few viewings, and these are duplex flats right next to the city centre with their own secure parking. Mind you, they only have 1.25 bedrooms, and there is about to be a 25-flat development replacing the old, rather attractive building next door. Someone is not going to be happy.
Then again, the place seems to be full of po-faced 'urbanista professional' types, so I can't say I'm too sorry!
T.
Are There Any Cities In The Uk Where ...
in House prices and the economy
Posted
My mate was in an apartment in 'The Habitat' for 6 months - quite nostalgic really, just like being back in student halls! Not so attractive to a 30 year old on 50K though.
When I used to stay over there I had to sleep on his sofa, as the second bedroom had no windows or ventilation, and was completely airless. I used to wake in the night fighting for breath!
The standard of fittings was also poor. There were bit cracks in the plaster in the corners by the time he left.