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House Price Crash Forum


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Everything posted by HovelinHove

  1. I voted for Boris twice having never ever in my life voted Tory before, but only because of Brexit, and to keep Corbyn out, but I had to hold my nose...now I am one of millions deeply regretting the fact that we had no choice but him. Princess Nut Nuts is running number 10 now, but their days are numbered, and then we will have an establishment replacement like Gove who will be even worse. British politics is an absolute nightmare, and our democracy a sham.
  2. The SDP were th old liberal party, but these guys are more like Reform or Reclaim. Very appealing. Their policies are actually sensible...but as a previous poster said, TPTP guarantees endless moronic policy from the LibLabCon nightmare we have endured forever.
  3. Lack of supply and other factors such as Londoners borrowing against current properties to finance either a bridging situation or a second home have fueled a mania that is repeated in countless countries. Once all the old biddies come out and start selling, we might see a change in the dynamics.
  4. I am buying a house too and agree with you to an extent...just don't like newbies coming on here shrieking BUY NOW...smells of EA/VI trolling. Seeing that multiple big banks are going to offer 95% mortgages from June will change things a bit...but they were before COVID too. Not sure how many of these the government will guarentee...that will be the key. If it is a limitless blank cheque then it will have a big impact, but if it is limited...nothing burger. The current situation may be a passing mania and demand fizzles out, supply rises and people who have bought than one house, or over extended themselves end up in very deep trouble. I can afford one with a modest mortgage, so don't mind the risk, but others should be mindful that manias do not end well.
  5. You have been posting “panic panic bit a house now” posts. Troll.
  6. I think you need to learn to differentiate a quote from another poster to the original poster before you are rude about people. The Count is quoting my comment and making a comment about that. Since early January things have been going crazy, there is a mania down here. We are in the process of buying a house at the moment, but expecting to get gazumped, at which stage we are out and will stop looking. Very bad market to be buying in.
  7. The ultra rich have been buying property in New Zealand because it so far from everywhere...seen as a bit of bolt hole. I agree on the culture side of things...complete back of beyond, and near absolutely nowhere. My wife is a kiwi and we want to retire there, the recent price increases are a nightmare for us. I've seen the world, and would be quite happy to end up there and never leave. Most houses now have installed air pump heaters/air conditioners which are fine for the few really hot days or days below 15 in North Island. If I didn't have family there, I would not consider moving there as while the people are nice, they are fairly insular. If you have family and can afford a home in a reasonable area, it is paradise, otherwise only worth a visit for hiking holidays.
  8. There are certain types of house to steer clear of at the moment as they are going for way over the odds. Nice, family homes that have been renovated, have good kitchens etc. They sell in a day and are over priced. The house I bought is about the same price houses have been since 2016, but maybe 5% more...not much though. Been on the market a long time...needs some work, which I am happy to pay for. If the market drops 30-40% I will be miffed, but I can afford it. I just don’t see that happening though. Crashes take a long time to recover from and the Tories will already be thinking of the next election.
  9. It is not going end well. No one will escape unscathed except the greedy horders.
  10. All I know is that every decent house that goes on the market in our area sells within a week. period. I have seen asking prices creep up now too. There are a few that hang around for months because they are priced too high and need work. Developers aren't interested if they can't turn a serious profit. I have seen a number of houses go on and I phone up a day later and they are gone. We had an offer accepted on a property that had been on for a few months and they reduced twice. Still slightly overpriced in my view, but I am prepared to suck it up. We can afford the mortgage, I have as secure a job as you can get, so worth the risk. If prices go down, I will not come here LOL!
  11. I agree. Sunak has shown his hand, he will do everything he possibly can to support house price growth. We had an offer accepted over the weekend. It was a probate, and they had put it on in November at a ridiculous price and lowered by 10% since then. The agent told us they had received a couple of very low ball offers...20% off asking. They weren’t in a rush and were considering renting it out. Needs some work, and we will have a slightly bigger mortgage than we wanted at our time of life, but I have about as secure a job that is possible to get in the private sector, and should get an inheritance in the next 5-10 years that would wipe the mortgage, so feel the risks are low. Still gills me though that prices should have dropped 20% in the past year. I don’t see them dropping much now. I think stagflation is the way ahead with CPI running at 2-5%, assets at a similar amount. In the 1970s prices didn’t drop.
  12. Having bought and sold a house in Canada, where you are tied in very shortly after making/accepting an offer subject to conditions such as getting finance, good home inspection etc, it is infinitely superior to the insanity of the UK market.
  13. Yes, we are living in a country that politicians will prioritize house price growth above everything else, and need to accept this. Ironically I just pulled out of a house purchase this morning, nothing to do with thinking the market will crash, I don't, more to do with the fact that I panicked and made an offer on somewhere that wasn't really right for us because of FOMO. Supply has been a huge issue in our area for the kind of houses we have been looking at, but I expect the spring to see more properties come on to the market, not necessarily forced sales, more a case of >60s looking to make the most of the end of lockdown, vaccinations etc and high prices, and cash in to downsize. I do think a lot of people have been wary about listing due to COVID. We will see though...either way I intend to buy soon as it is obvious that the UK and other central banks will not stop printing money until they have destroyed our currencies.
  14. Some people call Portslade "West Hove"...doesn't change the fact it is a toilet.
  15. I'm with you there. 11 days after offer, expecting the market to drop 50% the moment I complete! I think it depends on how much the Tories are prepared to debauch the currency and support the market.
  16. Well now 10 days into my house purchasing saga, in which we had an offer accepted on a sale due to divorce, that we feel is a fair price in the current bonkers market (it's not cheap, just fair...Jan 202 price), I can say that the post is correct. Good houses sell quickly in our area (less than a week) because there is a poor supply of them, and I don't see things changing any time soon with endless props being provided by the government. Activity will pick up in the spring, but I don't think there will be much downward pressure. I will have a small mortgage, keep lots of cash aside in case job goes TU, and forget about price changes. It's either that or constant anxiety that my cash will be burned by vile central bankers and corrupt Tories.
  17. yep. Mind you, furlough only covers up to 25k, that wouldn't even have paid my rent!
  18. I spoke to a friend yesterday for the first time in a while. He has been on Furlough for a year. He has written a novel, done art classes, home renovations...he loves it. I have been working harder than ever...paying for his furlough. Of course it's fair...I am delighted for my friend and happy to pay 40% to fund his new lifestyle.
  19. Maybe if we'd actually had a truly dangerous pandemic like the one in the movie Contagion which had a 30% fatality rate, that might have worked. Think I'd rather have HPI though!
  20. Good advice. Our rent is hideous, but we are thinking of doing the kitchen now and renting for an extra month or so, just needs a wall moving though, which could complicate things.
  21. Our offer has been accepted. It was interesting they had two previous deals fall through due to chain collapses. We are chain free and mostly cash, so they took a few percent off. The house seems very good value compared to the area. Not the cheapest on the street, but lots of others that are worth more. Nice cars in all the drives, well established, backs on to woodland, near a commuter station in a nice town where the past 3 houses we looked at went within a few days of being listed, scope for improvement which we can afford, small mortgage...very pleased. I have given up trying to predict what is going to happen after the last 12 months. What I see is 3 more years of Tory rule in which they will do everything they can to keep prices high, or rise further. They may not succeed, but once we are in our house, I don't have to worry about it any more. If property goes down 30%, I won't care as I made more than 30% on my house in Canada, if it goes down 50%, I will be miffed, but I will be in a home I can afford and which I like. I can live in a house, but I can't live in a Bitcoin or a Gold bar.
  22. As. Promised on the first page, I went out and bought a house today. To be fair the price is reasonably good...vendor suited and sale due to one or more of the 3Ds. Reduced twice now. If it all goes through I will be quite happy. If it doesn’t, I am a little less fearful after hearing that this and another house we looked at 3 days ago had a few offers accepted, then fall through due to redundancies. Happening a lot. 5X zero income ain’t gonna buy a lot of house. I made an offer on a house the other 15k below asking, they came back with 10k below asking, I walked away. They then said they accept my offer, but by then I’d changed my mind.
  23. Yep. They are the scum of the earth. All of them...except maybe Jacinda Ardern.
  24. I do agree. They will do anything. They are filthy scum.
  25. Not sure the builders are going to like this. They had a protected piece of the pie. Could hit new build prices a lot. At the moment I don’t even look at them as they are over priced compared to second hand homes.
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