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House Price Crash Forum


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About onionpie

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  1. Steiner's proposal seems to be identical to government hyperinflation. Marks or pound notes that have value today become worthless tomorrow, or next week. That's not a radical or even a complicated idea, it's just corrupt - it's institutionalised theft by the State. It's true that many people believe that saving is the same as losing money. They will get fried if we enter a deflationary environment. The signs are not good - shares falling, gold falling, house prices ...?
  2. National Savings Investment Account. The interest rate is almost as high as the best retail bank and mutual high interest accounts. The banks' compensation scheme is something of a confidence measure, it's only guaranteed by other banks, not the Government. If there's a systemic failure of the banking system, you could lose the whole lot.
  3. I believe there will be a house price crash, quite soon. However, in your situation, I think I would look closely at the disadvantages of selling to rent. In effect, you are half renting now. It's quite likely that the housing association's rent is significanly lower than commercial rates of rent. You will also lose security of tenure. If you sell to rent you could be kicked out of your home at a few months notice. Not so bad if you are single, very disruptive if you have a family. You say also that you are in a prime location, though the actual value of your home is 176K (that's 2X88K). If you rent, you may not be able to find somewhere pleasant that's also inexpensive. 50K isn't a huge amount of cash in today's environment, so I would think long and hard whether it was likely to be worth it. If you are in a situation where you sell your home to realise 50K, a building society or national savings instant access account is the best place. Gold for example fell 20 percent recently - I wouldn't be happy speculating without really substantial savings.
  4. Yes, I expect I could rent something very cheaply.
  5. " When Rudolf Steiner lectured about the World Economy .... He suggested a monetary system where money itself, paper money, became old [having a ‘use by’ date, after which it ceased to be valid and could no longer be used], just as vegetables, meat, clothes etc, also become old. Money should be kept in circulation. With such a system the charging and receiving of interest could be eliminated. It is, perhaps, an idea difficult to really understand, but it does provide food for thought as the morality of charging interest, usury, is rarely even discussed, outside of the Moslem world. " Now that's what I call crackpot! He certainly does exist on another spiritual plane - or planet!
  6. Wow - $560 - £305 - the lowest gold has been since January - in Sterling at least?
  7. Apologies - I didn't read all the posts on this thread before I posted. I remember a Nationwide B.S. report that contained some information about the rotation from large BTLs to small BTLs. There were many more landlords, but more or less unchanged numbers of BTLs. Unfortunately I don't still have it. It's not my problem, really. I'm not considering BTL, and I'm not considering buying to occupy. With all asset prices falling, it seems sensible to stay in cash for now.
  8. The BTL investor provides a service to people who want to rent and don't want to buy. Sadly today's BTL investors are going to get screwed because the clever money has already left the market. If you draw a graph of size of BTL portfolio against time, that will have fallen significantly as the pros have left, and amateurs have replaced them.
  9. The vast majority will be surprised how far prices can fall. An accurate prediction of how far prices will fall would be ridiculed today. So there is not much point speculating convincingly on the extent of the fall when most people do not believe a crash will happen anyway.
  10. Do your EA employers know you are posting to this group? Perhaps that's why they kept you, when they sacked all your colleagues to cut their costs?
  11. It's a question of risk management. The rate of increase has crashed. It was around 20 percent three years ago, now it's more or less zero. In spite of that particular crash, the majority are optimistic about price rises. When the panic sets in, prices will fall more rapidly than they rose. It's in the nature of crashes. It'll be far more painful to be caught out by a panic crash than to miss out on the mania. If you can call the very top, good luck, but it's an unjustifiable risk, ISTM.
  12. It's not the Government's job to tell people what to do, and what to learn. That's just fascism. However they could help and save public money too by ceasing to provide benefits leaflets or any other benefits information in any language other than English.
  13. Who started that then? http://www.fair.org/index.php?page=1093 LNO: When the Soviets justified their intervention by asserting that they intended to fight against a secret involvement of the United States in Afghanistan, people didn't believe them. However, there was a basis of truth. You don't regret anything today? BRZEZINSKI: Regret what? That secret operation was an excellent idea. It had the effect of drawing the Russians into the Afghan trap and you want me to regret it? The day the Soviets officially crossed the border, I wrote to President Carter: We now have the opportunity of giving to the USSR its Vietnam war.… LNO: And neither do you regret having supported the Islamic fundamentalism, having given arms and advice to future terrorists? BRZEZINSKI: What is most important to the history of the world? The Taliban or the collapse of the Soviet empire? Some stirred-up Muslims or the liberation of Central Europe and the end of the cold war? :angry:
  14. Well an IO mortgage doesn't pay off the debt, so if your friends have to resort to one, it's likely that they are stretched too far. Most people's memory doesn't go back as far as 1990-5. Kerpoww
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