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House Price Crash Forum


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Everything posted by HovelinHove

  1. 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.
  2. Yep. They are the scum of the earth. All of them...except maybe Jacinda Ardern.
  3. I do agree. They will do anything. They are filthy scum.
  4. 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.
  5. I am buying a house today. This underpins the entire Ponzi scheme and guarantees a new generation of gullible debt slaves will be buying in their droves over the summer. If you can’t beat them, then join them. I am literally going to buy a house today.
  6. If you are a citizen or have permanent residence in another country (something you would need to stay for. Any length of time), and if you stand to save that much, and the country you are going to doesn’t tax the heck out foreigners at some point to pay for the COVID mess, then makes sense. However, I wouldn’t trust other governments not to tax rich overseas types once the COVID bill lands on the doorstep...they are the softest of soft targets for populist politicians and garner zero sympathy from anyone...and rightly so. If you have made £3 million out of Bitcoin, you would do better to pay your dues to society, stay here, and avoid the headaches.
  7. May be a few HODLERs with clenched buttocks this morning. 45%...nasty. Tiny violin.
  8. You did the right thing, and well done for being so strong this long. That has been one of the reasons I’m glad I haven’t been in it. I would have sold years ago as I couldn’t take the stress of sitting on that much gain knowing it could all be wiped out in a bad day...or Musk tweet. Then, having sold, I would now be like Dave Daytrader. Money isn’t everything. When I was on the other side of the pond I had info on my company that could have resulted in a multi-billion dollar law suit against them. As a whistleblower I could have grabbed 25% of any proceeds, then I read the story of someone who had gone down this road. They made $90 million, but lost their house, friends, marriage and mental health in a nine year fight with lawyers. I had 3 months of fighting with lawyers, and called it a day for a 6 figure sum with a year off. Money is not worth stress.
  9. I bought my first bitcoin (Canadian ETF, only a $1000 for fun and not feeling like I’m the only idiot on HPC to not have a stake in it) today...time to sell everyone, I curse every asset class I touch LOL! Not completely true, but I have a knack of getting it wrong. Going to make an offer on a house later this week...HPC coming soon!
  10. Personally, I think the budget will be the telling moment in the UK. I am getting vibes that Sunak has given up fighting for decency, and sound economic management and may go full MMT after being sat on by his fat boss. We will see. On the other hand, while I am seeing the odd bit of panic buying in the housing market, I am also seeing lots of chain collapses too. I see some houses sell in two days, only to come again a week later and sit there for weeks. It is a very disturbing time to be in my position, but I have faith. I did view a house today, and am probably going to make an offer.
  11. I just look back to this time last year and I was rubbing my hands thinking cash would be king, but our prostitute politicians and bankers are destroying everything. Really horrible time to be all cash. Not my choice, have been trying to buy a house, but been stupid out there. Watching people being handed wads of cash for doing nothing, and thus destroying the value of every pound given out. I detest Boris as he has turned into everything I hate about politicians. I blame his fiancée.
  12. I am hearing rumblings in some US jurisdictions of taxing unrealised gains and exit taxes for people trying to leave the country. California I think. I can easily see how Bitcoin gains will be a very soft target, and if this comes off even the hodlers or whatever they are, will get squeezed and be forced to sell to pay the tax man.
  13. First North American Bitcoin ETF launched today. I will not be buying it for reasons no one here would understand (faith based), but I can see BTC going to 2,3,400k or more if big investment funds, corporations, and pension investors start piling in. I also think it has the potential to bring everything else down with it if panic selling ever sets in once it reaches those highs. https://www.globenewswire.com/news-release/2021/02/18/2177751/0/en/Purpose-Investments-Launches-World-s-First-Bitcoin-ETF-Invested-Directly-in-the-Digital-Asset.html
  14. It completely makes sense if you are sitting on large six or seven figure gains. I am a New Zealand perm resident, and there are some very favourable laws for newly arrived residents when it comes to things like this. It’s all a bit of a moot point for me though. I tried to get in at 17k, prayed about it, and the app I was using wouldn’t work, and took that as a sign! Personally I feel better off not watching the flipping price every 5 seconds which is precisely what would have happened if I’d lobbed 10k in...InsteadI only look at the price a couple of times a day and sulk
  15. Is profit on Bitcoin subject to CGT, and if so, is there a way to avoid it?
  16. Love it...33 posts. Desperate estate agent, bored and nothing else to do.
  17. Wow, a post that you didn’t end with “buy Bitcoin”
  18. I agree. If anyone thinks they can make an offer now based on slipping in under the mid May deadline, must have finances lined up, solicitor on retainer and no chain. Moreover, I think that this will be like the extension HTB, only for those who made “significant progress” with their transaction...what that means is harder to define. This is a middle way, that doesn’t cause the apocalypse we want, but will certainly result in a significant number of dodgy chains falling apart, and the end of the feeding frenzy of the past 6 months. Come late April, I believe the fun that should have started last July, will finally begin. The brutal truth is that lots of marriages have been pushed beyond the limit; there have been a number of excess deaths; there will a fresh wave of post furlough redundancies combined with the end of mortgage forbearance (the 3 Ds), there will be a lot of old folks who are keen to move into retirement communities after being isolated in their large homes who have delayed selling because they are petrified of having hoards of buyers with COVID in their home; the UK population has shrunk for the first time in decades, and HK is not going to allow the replacement that Boris dreams of; there will not be hoards of buyers because many of the particularly muppety or speculative types will have tried to beat the SD deadline; there will be less migration from London to the countryside because London will be collapsing. Much of this should have happened since July, but due to the ongoing largesse of the government, didn’t. I believe that Sunak is a genuine free market chancellor, and is keen to get things onto a sensible path again. Allowing the pain to happen now, with 3 years still before the election, makes a lot more sense then continuing to inflate the bubble and alienate the conservative base.
  19. I think this is not just a rumour, it was leaked with the intention to calm nerves as leaving it till March 3rd would be too late. I think this is fair enough. I suspect he will announce this in the budget and say it is only for those already in the process. Makes sense, although I preferred the chaos and crash potential of March 31st. If he doesn’t restrict it to those who are in conveyancing already, then it will just create another crazy last minute dash for the line. Either way, the market will freeze just as we come out of lockdown. People who have been delaying sales will be putting their houses on just as demand disappears. Perfect. Hold on folks, happy days ahead. https://www.dailymail.co.uk/news/article-9255791/Rishi-Sunak-considers-extending-stamp-duty-holiday-prevent-buyers-dropping-home-sales.html
  20. Love seeing these posts from people with a couple of dozen posts every now and then. “OMG, the market will never crash!” To me it tells me that some people (VIs) are really scared...like so scared they’d spend their furlough time trolling HPC because they can’t sell houses at the moment.
  21. Interesting analysis in the DT today that suggests that there are many big league investors who are ready to clamber aboard recognising a number of fundamentals and other factors that underpin a steep rise in the price of silver. I watched a lot of analysis yesterday by PM specialists, all of whom dismissed the Reddit crowd’s ability to move the needle, but also all of who said that silver was cheap at the moment and that a doubling of price this year would be well within the realms of the fundamentals. Moreover, if large hedge funds adopt the tactic of buying physical silver ETFs creating short term supply issues (an issue highlighted in this and by the Reddit post), and price spikes and if traders who control billion dollar funds see the Reddit strategy as a viable option to apply on a huge scale and turn a quick buck, $50 could look very cheap indeed. Silver article in the Telegraph.
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