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House Price Crash Forum


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About Toast

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  1. To be fair, that sounds like a decent attitude: I was half expecting him to say "I assume the deposit is the letting agent's responsibility" and/or "should I sue the tenant for the missing rent?".
  2. As a "remain" voter in 2016, I have to say that those options don't make sense to me. The last referendum was between remain (the best "remain" that Cameron could negotiate), and leave. Remain lost. I don't think that option should be revisited now, for at least a generation; otherwise, logically, we'd have to re-run the vote every two years*. Although I think the members of parliament should decide what kind of "leave" we have, if they are unable to come to a decision, I could see the sense in a referendum choosing between "exit on WTO terms" and "whatever May has managed to negotiate".
  3. Scary that it's not possible for an OK full-time job to support a basic lifestyle, including a very cheap (by UK standards!) place to live. Absolutely agree with this: she is not "feckless" by any stretch of the imagination. In addition to keeping down a decent job and (by the sounds of it) supporting other people, she also managed to save $10k ... albeit that's now draining away. As "Durrhamborn" used to say: if a full-time worker cannot afford a basic house, then it's the government that is the problem.
  4. Absolutely agree: they want as much turnover as possible. I think the dynamic is that during a mania, everyone wants to buy a house, and so the estate agents are competing with each other for the sellers. They compete by suggesting higher and higher listing prices. In a crash, the EAs are competing with each other for the scarce buyers, and so will try as hard as possible to talk down the sellers' expectations for prices. It's a bit asymmetrical, because they are the sellers' agent, not the buyers, and their clients are more welcoming of the idea of high prices. However, I think that m
  5. Thank you ceo: interesting story! The way I read it, is that over the last 10+ years, the market has been irrational in two different ways: the prices are too high (compared to salaries, rental yields or whatever), and prices were rising very quickly. If we consider just those people who don't look at fundamentals, and only look at the rising prices, that second aspect led to a "buy whatever you can, before you miss the boat" mentality. Now, as price rises cease, and before they (hopefully) start to actually go down, we have what looks to those people specifically, like a normal mar
  6. You may be right; but to me, it looks like Frogstar B out there, only with nail-bars.
  7. I'm pretty sure there are serious (and well-studied) psychological benefits from being in contact with and seeing the natural world regularly, so good work for putting in the effort, and having the patience to get through any discomfort. However, your blood will have the right positive/negative electron balance even if you were in a prison cell. You can tell this from the fact your hair doesn't stand on end every time you go near an earthed surface. I'm also not aware there's any evidence that having a slightly unbalanced charge (e.g. from rubbing balloons to put them on the ceiling for y
  8. Yes, I agree: EA's and LA's are businesses that flow from the "mother of all monopolies", so won't be much missed. In fact, my experience of the "personal touch" offered by LA's is that the world would be a much better place were they all replaced by packet switches. By the way, sorry for the dig, if it came across that way: I didn't intend to be rude, nor to imply that I actually know what you do (other than that you do it in Haskell). I think the elimination of clerical and administrative roles really does fall under "creating destruction." The problem though, is that it's happenin
  9. Good post, and welcome to the forum! If you are Venger, then that's a very good thing: we need you back here, and you have been sorely missed. If you're not Venger, then just take it as high praise that you've been mistaken for him, and your thoughts will be appreciated in their own right.
  10. These (examples) are all good points, but I think you're making the same argument: whether it's 30 or 300 people, it's a heck of a lot less than the 3x16000 estate agents they'll ultimately replace. Internet companies grow so fast because they need order(s) of magnitude fewer people than doing it the conventional way. Several of my friends (and I'm guessing Spyguy as well) have made their money by destroying jobs. I'm putting that in a nasty way, and you can rightly say that it's inevitable, and it's Schumpeter's creative destruction ... but it sometimes feels pretty depressing. I say tha
  11. I think it's a gamble on a future monopoly: because the internet makes competition in these kinds of things so frictionless, there's likely to be one massive winner. It might not be Zoopla, but they're still in with a chance. There are 25 million homes in the UK. Say you have 80% market share, and a home is sold every 20 years, that's 1 million transactions a year. If you charge £50 to list each property (I have no idea if that's anything like the going rate), then a £50 million turnover company might be worth 10 times that amount. If you turn yourself eventually into an estate agent as well,
  12. Interesting. At first I thought the chap was moaning about some group of HPC people who had put up a poster to frighten landlords into selling because of higher taxes. It was a little while before I realised the P118'er had paid for the scare-board himself.
  13. Anyone who pays taxes and is proud & public spirited enough not to want to take money unnecessarily from the state (or rather from their fellow taxpayers).
  14. It's not that bad: there would still be many landlords competing. Only if a large majority of the stock were owned by a single landlord or company would it be a monopoly. I think in most places, rents are not rising by much more than inflation, so we're still a long way from what would happen in a true monopoly situation.
  15. The slight irony is that I would ordinarily have read this article in the print edition ... except the Telegraph here is distributed by Central, who are owned by Bargain Booze ... so no deliveries this week.
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