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House Price Crash Forum


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Everything posted by sta100

  1. Bitcoin, miners, china, gold, silver, you'd be down on your money Perhaps you're all wrong and cash is king
  2. 5% mortgages are nothing new. The lending multiple remains the same. As far as I'm aware salaries are static. The recent HPI has come from Londoners moving out of London and foreigners with cash. Don't see how this is going to make a massive dent.
  3. What are the examples of who this helps? 5% deposit means you've got 10% less to spend on the property. Secondly if you haven't saved that you're either on a lower salary, feckless and unlendable, or a new grad who is backed by bomad anyway. So what are the real world examples?
  4. Also, I hope you're the first rung of the ladder otherwise your buyer has you over a barrel...
  5. I totally understand this. However, you do have some when you've been in the chain for several months and about to miss the stamp duty deadline.
  6. I was thinking the same thing, "pull out" is the standard reply, houses are worth a lot more!
  7. Surely in many instances the top of the chain sitting on 500k+ of hpi can drop 15k to get the sale through. Are people really this stupid?
  8. It's "their money" rather than some borrowed imaginary money, and also the house isn't a 'bargain' anymore because they have to pay stamp duty - big psychological difference.
  9. When there's been a continual incentive to borrow this is the result, spend 500k on a house and they literally leave themselves with a few thousand of savings.
  10. https://www.rightmove.co.uk/properties/86719501#/ Here ya go, on market for 290, sold for 319k in 2019. Fill yer boots lol
  11. London flats are effectively crashing as we speak. End of furlough will increase unemployment. I think the market is on a cliff towards a downward spiral.
  12. So what you're saying is that this is the first time in history where unemployment has massively risen without a house price correction? New paradigm then...
  13. Up 170% this year as the bottom rung gets kicked away. Followed by mass homelessness. Looking forward to being able to pay a street urchin 1/100000 of a bitcoin to carry me about on their shoulders all day.
  14. I also faired pretty well financially, but in the grand scheme of things I've come off really badly this year because none of it is worth anything in this ridiculously broken system.
  15. Well, I just can't imagine what your identity would be if it turns out that HPI is just a cancerous ponzi scheme that's screwed up society. Surely the ego would be particularly scared if all those gains were wiped out tomorrow.
  16. Not just FTB'ers is it, rush to buy something to save 15k, that's gone up 50k. Bit like that eat out to help out craziness, save a fiver, but you might catch a deadly virus.
  17. Twenty thing I didn't buy a house in 2007, invested in a business instead and created something real. Now do I not only have enough money to buy something decent in cash, I didn't make it sitting around doing naff all. Even if there's a massive HPC I can go out and generate more wealth, so no wonder people like you are constantly crapping it.
  18. Because it's part of their identity. Most people just want somewhere to live to be able to get on with things.
  19. Sadly not only for real but very common. Lots of people look at their house price and think it's gone up so that's ok because I'll be able to leave it to the kids. The same kids who have had had 3 major life crises by the time they're 22 and have to manage their mental health on an hourly basis. Yet 2 and 2 just can't be put together on this one.
  20. It sucks your ability to give a toss or want to contribute. Studied and worked hard? Saved? Should have just been a bomad kid with 10 years of HPI gains doing very little. Message for youngsters, if you want to get on in this life: borrow as much as possible, buy houses, let them out. Don't be an idiot and become a nurse or something.
  21. As someone who didn't buy a house around the 2007 period and has made wealth of their business (I can afford a decent house in cash now), I'm not laughing at anyone. I've experienced first hand how HPI and it's cheerleaders are stifling any form of ambition, innovation, or pride in their work. It's a sorry state of affairs.
  22. The system isn't set up for anyone. Money that goes into bricks and mortar is money we lose for innovation and public services. Houses are increasing in value, while quality of life is decreasing rapidly. That's set to continue until the vast majority are anxious and depressed. It's something like 1 in 3 amongst the young now.
  23. For example I build foundations 100cm deep. 3 years later, houses are deemed not safe because building foundations should be 120cm deep. I built to the spec at the time, why am I liable?
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