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lulu

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Everything posted by lulu

  1. RatI just searched my post code in Edinburgh and there are more than 200 rentals
  2. I dont care if I sound like a juvenile child (what other kind of children are there btw!?) But I do believe that it is not fair that a large number of people under 30 are being denied the chance to own a house/flat whatever, mostly due to the fact that most of the potential properties that they might have bought in the past have been bought by BTL people. Like you I could go out tomorrow use the money I have for a deposit and get a huge mortgage and buy somewhere, but I think it would be financial suicide so refuse to do it. I currently rent a room with a family, I don't go out and waste lots of money as most people around here assume the young of today do. I dont go on extravagent holidays, hardly have any expensive nights out dont have an Ipod/plasma tv or anything and like you I am saving all I can - but there seems to be be no point as we are told that prices are still going up. And no, I am a wally and chosen a career that is not likely to lead to a rocketing salary - though I am am going to change this.
  3. Good- but i was hoping for a 0.5 rise Whats the betting though - mortages will be up already but savings will not go up for a good few weeks.... :angry:
  4. Yes of course, what a fool I am! Why should I expect to have a chance of buying anything!? I dont have a property I can remortgage for the deposit so why shoudl I be given a chance. But lets see, now you have told me that I will just change job tomorrow and double my salary overnight..... (I earn above the average but am still screwed)
  5. Yes they are obviously t*s*ers - I bet they have a MEW 4x4 in the drive too - they are the kind of people I hope get stung badly when prices drop. Why the f' do they not sell both and move somewhere better. But they are probably the type of people who will hang onto both and still buy something else to move to.
  6. Yes but if the to**ers hadnt been allowed to do this then I and many of my peers would have been able to buy the flats we are currently living in - instead we are stuck with little chance of buying homes for ourselves - the selfishness and greed in society is very very sad greed is surely against Christianity so I hope they all rot.
  7. But it is commuterland heaven for access to Edinburgh - trains from there go direct to the city centre and it is not to far from the new RBS headquarters. I think it will probably sell for £150k at least (remember in Scotland the offers over system generally sells for at least 10% over the offers over asking price)
  8. I dont know enough to make definate predictions but I think "things are different this time" this time we are far more exposed to a crash than we have been. MEW has never been so popular neither has BTL and because of this I think it will happen very quickly. Once rates finally start going up (fingers crossed for tomorrow) the lightbulb will switch on in my peoples heads that BTL is no longer the "get rich quick" scheme that it once was - if they start to see prices dropping I suspect a large number will sell (despite the fact they claim "to be in it for the long term") many will be forced, others will see percieved losses and so will attempt to cut and run, I suppose some of the most highly geared BTL (and other over stretched OO's will be repossesed. So when you take the BTL out of the equation and match that to the trivial numbers of FTB's around (and associated credit tightning) and I can see it all being over rather quickly. So here are my predictions: 1) What percentage falls (or rise!?) do you see from current levels? 50% (property will become as popular as a dotcom share after the dotcom crash 2) What year do you expect prices to start falling? 2007 (assuming IR's go up) 3) When do you anticipate a trough i.e. the best buying time? 2008 will be when I would most like to buy but 2010 will be the more likely trough But what do I know?
  9. Stop it please - I have been dreaming about such rate rises for months now (that and winning the Euromillions on Friday!) Talking about it only makes it worse.... It is the only way this madness is going to end - but I am sure those in power will do anything possible to avoid it. - People have been brainwashed into thinking that rates will never rise again "no more boom and bust" - well we have had the boom - how are you going to stop the bust Gordon! I have debates with people regualrly about this - they call me a heartless cow for wanting IR's to go up - maybe I am, but its not my fault they have stupidly big mortgages. I was told that if I was to get a mortage, that I should work out if I could still afford it if rates went up a bit - I did and realised that I wouldnt. I am just waiting for the bleating to start from those not given this advice.
  10. Somebody should pass this onto the Daily "Diana conspiracy" Express - come to think of it maybe I have missed it but they haven't had their usual - "House Prices are going up xmillion£ every second" headline for a while -do you think they have cottoned on to the fact that this is actually great news to very few people!?
  11. Does this not make it more likely though that rates will be kept as they are? Could they not be overly concerned about the impact this rise might have on sentiment right before the spending frenzy that Christmas has become?
  12. I love his quote: "Whichever way you look at it, we cannot carry on like this without the elastic snapping and many overstretched buyers losing their trousers."
  13. Yes I am sure most of the bears on here would of bought 5 years ago - the fact is though that my personal situation was that I was too young (I didnt have a very good income at the time so didn't have a deposit that was enough to compete with the Edinburgh "offers over" system which at the time (Edinburgh went through a huge boom) was leading to flats being sold for 30/40% over their valuation price. Through the simple bad luck of being born a couple of years too late I have been denied the chance to buy anything. People often seem to be critical and wonder why people like me winge but I am sure those critisisers woudl be equally pissed off - anyone born since 1980 has been put at a serious disadvantage by what has gone on.
  14. No I dont think it will even be that long - if the Sun has become bearish then I think that it will all happen that bit more quickly. Once the BTL start to waver and try to sell, I predict a domino effect more and more will try to tell to cut their losses.
  15. I dont know - I enjoy reading about BTL muppets and MEW people meeting hard times, but I do feel for all the FTB's and other "normal" buyers who feel that their hand is being forced and have taken out big loans to buy places that just a few years ago they would have been able to get hold of for a fraction of the price. I want it to end now also so I can attempt to get something of my own too - it aint going to happen just now.
  16. Yes I remember this article - he sounds like a sensible chap and manages in the article to put across many of the reasons why huge HPI is not always a good thing (as we are told) I hope he is given the opportunity to get his point across more often (it might help balance some of the property porn that is on all the time) I wonder if he has ever paid us a visit here
  17. I dunno, it all seems fairly bearish on there now (no matter how uneducated the people are) - I can only assume that the BBC will remove half of the negative comments soon - or hide this "have your say" section somewhere where no one will see it.
  18. Why? Why the f**k not! It is a place for someone to live you know. I have a reasonable job and a reasonable salary, 8 years ago this would have allowed me to buy myself a reasonable place to live (I know that because my predecessor in my job did just that - similar salary/background, she bought a reasonable one bedroom flat in a reasonable place in the city no problem). Now, I am in a position that the only places I probably can afford to buy are in the absolute worst parts of the city (I could get a three bedroom flat in some parts!) but these are the kind of places that I am told that not even taxi drivers will go after a certain time of night and as I value my personal safety will not live there and I do not feel that patronising statements about being too picky are helpful. So that is me screwed - I am stuck renting when I would much prefer to have some space of my own. I am not lucky enough to have another half to I can afford naff all any more. Are you suggesting that I dont have a case/reason to be at least slightly annoyed by what has happened? But these stupid prices are not only a problem for people like myself. my aforementioned predecessor is now stuck now in her one bedroom flat as she cannot afford to "move up the ladder" I saw her recently and she was saying how she would like to move somewhere else but she was not going to be able to afford to do so - her flat has over doubled in value but she is not going to get any benefit as she would need it all for her next place so who exactly is benefitting?.
  19. hmmm, so you come to a website called housepricecrash.co.uk to ask about the viability of BLT in Peterborough Wally?! or taking the mickey?! Seriously though, why not spend a few hours browsing the posts on this site of which you will find many which will tell you the potential positives - but more commonly the pitfalls of BTL.
  20. But again times have changed, many people now think of a mobile/foreign holiday/ready meals as essential spending.
  21. No it is a good sign - within a few years their property will have increased by x% and they will be quids in (even if they are only IO mortgages) In fact quick everyone here make sure you dont miss the boat - I missed it years ago and hope now that it turns into the Titanic. No really, it is sad that something as basic as housing becomes a get rich quick scheme and at the end of the day those who can least afford it will get thir fingers burnt.....
  22. And yet still everyone seems to think that he is doing a great job I also hate the fact that if you point things like the above thing about people coming for tax credits out you get accused of being racist. I can't wait for coming economic turn around (I dont care if it is caused by Global Warming, war, bird flu, Gordon clown being an ars! or anything else) I am past caring any more. I am getting shat on from everywhere and I know that the government dont give a t8ss about my (or anyone else of my generations present or future) it is all just wrong. What annoys me is that people still critisise the "greed" of the late 80's and they blame Thatcher - now i would suggest that there is even more greed going around - people dont give a toss about anyone but themselves any more - you just have to look at the number of those stupid "Warrior" 4x4's to see that the world is full of to**ers.
  23. I can hear the squealing already from the VI's already. if only this would happen - if they are already expecting a rise early next year then why not? - and remember that bloke who did a protest at the BoE after the last rise?!
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