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House Price Crash Forum


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Everything posted by Switch625

  1. That's my take as well for what it's worth. It could be the wrong choice, but I doubt it.
  2. That option was considered to unpalatable the last time and I can't see the appetite for it this time either.
  3. I can accept I may have a grass is greener view given all the gazumping, gazundering, time wasting and needless expense involved in the English version, so please expound.
  4. All the government props of the last years have been exceedingly successful in creating a soft landing for the giant ponzi we call the housing market. As evidenced by the data; https://www.nationwide.co.uk/-/media/MainSite/documents/about/house-price-index/2018/Jun_Q2_2018.pdf That average house price looks spookily familiar now doesn't it? In fact the prices rose only 33% in the last decade. https://www.nationwide.co.uk/-/media/MainSite/documents/about/house-price-index/2020/Decades_special_report_Jan_2020.pdf I grant that 33% may sound like a lot, but that would be wiped out by a 25% fall. Factor in your costs of renting vs. paying off the mortgage https://www.drcalculator.com/mortgage/ Don't forget to add in dilapidation costs and the cost of rearranging your ponzi loan every 2, 3 or 5 years and things probably aren't looking too bad. Everyones circumstances are different, but I calculate as little as a 10 to 15% drop would leave me better off than if I had bought at the earliest possibility One word of warning I am expecting Rish's last little pro-housing market stunt to at least stem the falls, but I suspect that this will only offer temporary relief to the rampers, as rising unemployment will dictate the direction of travel. Have a good evening.
  5. Just might turn out to be the best bit of bad luck you ever had Chunketh
  6. Still the risk of an uptick prior to furlough ending, but after that unless they manage to stave off unemployment somehow, then it's full speed ahead for HPC.
  7. @HovelinHove Positive sentiment is evaporating and this is before we see furlough begin to unwind on the 1st August.
  8. Looks like the mainstream media have woken up to golds rise https://www.bbc.co.uk/news/business-53555771
  9. @PeanutButter Martin and Camilla Williamson pretty much sum up everything that's wrong with the current housing ponzi. They need to extract in excess of £1,000 a month from some other poor sucker or they foot the bill for all the debt they have taken on. This is what happens after decades of insane property ramping and people witnessing it as one way bet to wealth. The smart money has long since been and gone, they only waited for the greater fool to arrive at the end of the party and pick up the tab.
  10. BBC Money Box discuss the risks of buying https://www.bbc.co.uk/sounds/play/p08ltjxv George in his mid to late 20's with £10,000 deposit concerned about the risk of negative equity if he buys in now. Even with overt ramping ('property is an investment') from the 'experts', even they admitted it would be best to hold off for now! More good mood music for HPC
  11. This government, the previous governments and no doubt the governments to come
  12. All very important, but the first one is likely to be the biggest and something the average UK household have been loading up on pre-crisis.
  13. To quote Mr. Buffett “It's only when the tide goes out that you learn who's been swimming naked.” He won't be the last
  14. It might well do. The only problem they have is will some other sucker astute investor pay them £1m so they can move?
  15. That's my take on it too, Pop, you have been running a business, with all the ups and downs that entails. I don't like the business you are in, but that is immaterial and I can still respect your choices and approach to that business. The spivs and chancers have profited, not because they were cleverer than anyone else, but because of a unique set of circumstances that for a long time worked in their favour. Those circumstances are changing and from their point of view that is very bad indeed.
  16. Two words to describe what is happening right now 'BULL TRAP'.
  17. What are you mad? Its fallen 20% a bargain! Let me snap it up ..... NOT
  18. You know it's bad when the Daily Mail readers can see that unemployment is going to go ballistic.
  19. Caveat dominus. Not a lot of No sympathy so far in the comments section.
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