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House Price Crash Forum

jaay

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Everything posted by jaay

  1. Been visiting this site on an off for over a decade. Not so much until recently, but things seem to be getting interesting again. Having held out for a few years, I bought the dip in London (with reluctance) in 2010 and have moved a couple of times locally since - I'm now at the top of my particular ladder so to speak - meaning that I am no longer inherently short house prices and so, with a modest mortgage and no aspirations to climb any further, I am kind of watching from the sidelines. I read another post recently about the importance trying to align your interests with the those in power and, with this in mind, I have been trying to understand the thinking behind the recent BTL changes (re treatment of mortgage interest for tax purposes, stamp duty increases etc.). The vested interests of politicians in the property market are widely known and these measures pre-date the rise of Corbynomics and so, on one level, this move is bit of a mystery. Having convinced myself of a more bullish narrative in recent years, I was initially quite dismissive of these changes. But the reality is that prices are falling in the areas that I follow the local estate agents that I have spoken with recently are overly defensive about impact of these measures which to me suggests many landlords may be trouble. So, why would turkeys vote for Christmas? - my best guess is that one consequence of these measures would appear to be amateur landlords being squeezed out of the market, allowing more financially robust players (who are better placed to wear any shorter term pain) to take share. I don't quite get it. Apologies if this has been covered on another thread - if so I would appreciate a point in the right direction...
  2. this drives me insane - see it first hand every day - typically toffs who believe they have a divine right to work 'in finance' - always ****ing things up...
  3. appears i am the clown - was confusing him with that dude on the bbc - verity...
  4. this guy is a total clown - im pretty sure he has no idea what is likely to happen - like many he made money in a bull market - now what? - same with a lot of fund managers - time to start using your brain [for those that have them]... these pundits are starting to sound like that guy in napoleon dinamte [uncle rico or something] who keeps talking about '82...
  5. although it seems plausible that inflation will come down next year as economy slows/credit is restricted/lower oil prices begin to be reflected in household bills etc...
  6. i think that you just answered your own question...
  7. yeah - went there on holiday a few years back - really enjoyed it but got the impression that you would really need to learn the language to make the most of it - could be tricky! - not sure what the deal is in other cities in the far east... i would have to line up a job before i left so guess i would more than likely start off in some sort of ex-pat compound where you could survive without language skills... australia is looking like no 1 at the moment, purely on the basis that english is the main language, plus there is a possiblity of transfering with same company...
  8. ive noticed that a lot of people on these boards are planning/threatening to emigrate to other countries and was just wondering how easy this is to do - im getting rather tired of london and haven’t really got any ties other than work - was thinking australia or possibly far east [anywhere with large financial services centre] in a year or two...
  9. to be honest, im surprised that this hasnt been brought up on here before given the current hysteria around immigration – surely there must be many others who have noticed that property seems to be a very popular investment amongst certain sections of the asian community – personally, it doesn’t really bother me – they have spotted a [quite obvious] opportunity that was not being taken advantage of and have acted accordingly…
  10. ive been renting in sw london for 5 years - have had an asian landlord for 4 of these [moved each year] - all have been very difficult to extract deposit from - not sure that this is related to ethnicity though as i have nothing to compare with - will soon find out when my current agreement with [non-asian] landlord expires!
  11. i agree - but guess the difference is that you don't have much choice unless you want to live on the streets!
  12. should interest rates rise/second homes become subject to increased tax etc. - what would stop landlords from simply increasing the rents - surely if the preponderance of landlords hold their nerve and act in unison then the problem will be passed on to tenants, therby making it even harder to save/buy? there is probably a simple explantion that i have missed - possibly that many landlords will look to cash-in should the situation take a turn for the worse...
  13. not at all! - i haven't made up my mind yet - although the way i see things, it is far less of a gamble to hold on for a while and see what happens [at the risk of houses prices going up another 50% in ten years etc. and having to rent for perpetuity] than to take the plunge now [and risk serious finacial hardship]...
  14. as you can see, im not a regular poster, but do try and have a browse through these boards when i can. however, i am becoming rather concerned that the whole hpc is becoming a bit of an obsession - for me, weighing up the arguments for/against a hpc is fast becoming a full-time job! i am at the age [25] where many friends are buying for the first time and so i am am unsure as to whether i would actually want to see a full blown crash. some deserve whatever they get: mindlessly attempting to further their own finacial postion by loading themselves with debt in order to avoid 'lining someone elses pocket...blah, blah,blah', and looking at me like i am an idiot for even considering that there are risks attached to such 'investments'. for others, the furtherance of their own finacial position is not even an issue: i was speaking to a guy in the gym yesteday who is one of those people that seems incapable of habouring any negative thoughts toward anyone else . he told me he had just bought a house and was clearly exited about it, seemingly simply on the back of the fact that it is [i imagine] a great feeling to have a place that is yours to do what you want with and [i guess] a feeling of having moved forward a little bit further. it makes me feel bad that, if i am am to gain, others who i genuinely care about must lose out. but, who knows, it might turn out to be the best decision he ever made!
  15. it's more a case of thinking 'that's slightly less ridiculous' to be honest, i havent got to the point where i'm speaking with estate agents as i've pretty much ruled out the possibility of buying any time soon - however, i do know the area very well [re possibility of council estate at the end of the road] - i would of course expect differences due to other factors [physical condition of the property etc.] but it does seem a bit mad...
  16. ouch! i havent spent a lot of time researching the housing market for the simple reason that i have only recenlty come to be in the position to even consider buying and, as a consequence, i dont know whether what i have noticed has any significance: which is why i posted!
  17. i have noticed that asking prices in my area seem to be 'all over the place' at the moment in the sense that there doesnt seem to be any consitency/clear logic within the pricing of different properties - admittedly i have only recently began paying much attention to prices although this does seem rather strange... any thoughts?
  18. hmm - i have to confess that i know very little about the process: was of the understanding that this was true only for a prescribed period of time [months] - after which no fee to the ea is payable...
  19. a friend has recently put their house on the market through an ea and recieved full asking within days - however, a local btl landlord has also offered to match this with a cash payment - this seems like a good deal as my friend would save on ea fees etc - just wondered whether anyone had any advice to offer re potential issues? - i hear that the landlord is a bit of a character - thanks...
  20. i have been browsing this site for about 6 months or so and have noticed that a number of recent posters seem to be getting very exited about an apparent media u-turn and are confidently predicting that the horse has now bolted and a fall in prices is iminent - i just wanted to know whether those more experienced posters have noticed a real change in the past couple of months or whether they have seen it all before...
  21. exactly - why should those earning decent money be forced to live in such places - surely it is only fair that if you work hard/earn more you should be rewarded with a higher standard of accomodation - or else what is the point. what i find amazing is that peoples opions as to to what constitutes a 'nice house' have changed so dramatically - basic houses originally designed for those on very low incomes are now going for a bomb. also, although some can look very nice when done properly, it is pretty bizzare that people can now be considered to be living in luxury within converted barns/warehouses/factories etc! madness.
  22. has anyone put money on the average price for june? - not sure which figs the this is based on...
  23. ive been browsing this site for about the last 6 months - it has certaintly made me think, although i wouldnt be confident enough to take a firm view either way re a potential crash. one thing i am sure of is that current house prices have reached a ridiculous level. i am 25 - working and living in london and could afford to buy with reasonable comfort - however, i refuse to pay the over-inflated prices that we are currently seeing. i strongly disagree with those who say that ftbs such as myself are expecting too much: i work extremely hard for a fairly decent wage and think that it is reasonable to aim higher than a one bed flat in an ex-la block. [it would be interesting to see a comparison of owners salaries v. house value for those who have been lucky enough to enjoy the recent rises in property value over the last 10 years - many wouldnt stand a chance in todays climate] i suppose that i am siding with the bears in that i agree that it doesnt seem like the best time to buy - i dont necessarily envisage a crash but, to be honest, if prices stay consistently high i would rather just rent and enjoy a higher quality of living [whilst keeping some cash in reserve just in case!] like many, i am struggling to hide my bitterness regarding the ease with which a lot of 'investors' have got 'rich' simply by virtue of being alive during a certain period. this said, i am sure most people here would be more than happy to do the same in the future should a crash occur. maybe i am cutting off my nose to spite my face.
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