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House Price Crash Forum


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Posts posted by tenroom

  1. I find it hillarious that people on this site say things like

    "Those greedy BTL'ers"

    "Those unscrupulous banks"

    "Those selfish property developers"

    But then, people like the OP and those in agreement, are willing to allow the economy of the whole country topple, just so they can afford to by a property for themslves. The hypocrisy beggers belief.

    Doesn't it just ? Many of them really are wannabe BTLers annoyed that they missed the boat and bitter that it makes no financial sense to buy now . . .

  2. "status anxiety"? :huh:

    Well at least you've finally admitted why you come here, to troll.

    You know what, I actually pity you.

    Boohoo . . . you've done it now . . . I'm gonna run off now and get all introspective - question my life choices, face the fact I'm a troll . . . :lol:

    C'mon D23 . . . I think PG's now-legendary tale of how he came to be so fabulously wealthy is perfectly plausible . . . even if he did feel the need to ram it down the throat of anyone reading his posts by virtue of it being his signature for years . . . until he realised what an absolute tool it made him look :lol:

  3. This was tenroom's prediction last year. He was predicting even higher rates than myself.

    What's this guy really about?

    I never said I thought rates wouldn't go up but I've always rubbished the idiots calling the crash in Q107. Anyone with a shred of common sense would've known the market wasn't going to crash or start crashing early this year.

    There's a reason for being listed as "neither" . . . I don't think this ridiculous market will go on much longer but my opinions aren't tinged with the bitterness and anger of those who've let HPI and the lovely lolly pass them by while they were busy calling the top of the market in 2004.

  4. Why? I own a 3 bed house outright that I purchased with the money I made in 5 years in London (2001-2006)? Check out just how long (I'll give you a clue, I only joined this site 12 months ago) I have been calling a crash that never came, and then start to worry how easily you can get rid of a flat in Ladbroke Grove with 6+% IRs and half the BTLers in London trying to offload?

    These IR rises are clearly getting to you - Ladbroke, It could be more like broke lad :lol:

    Why ??!! Well even you must realise that you'd probably have a lot more to crow about if you'd kept your place in London instead of buying a 3 bed on a f***ing flood plain somewhere in the ar5e-end of the country . . .

    As for my flat in Ladbroke Grove, rates never bothered me given the tiny mortgage and the 6 figure income . . .

  5. I think 11% would be unrealistic although not impossible

    Japan, as I have been saying for a few months, are very likely to raise in August. The weakness of the yen is causing many problems and there has been talk of a very large increase needed and even a whole percentage point!

    It is likely that this global tightening process to speed up but I believe this will be, at least tried to be, done as many central bankers and especially the BoJ have predicted, "slowly".

    I would estimate/quess UK interest rates to be around 7.25% july/aug 2008

    I would be suprised if they were under 7% or over 7.75% so overall I expect hikes to increase by around 20% the current speed (1.5% over the next year) So nothing too spectacular but a slow strangulation of the UK economy, with house prices tipping slowly into negative territory sometime during 2008

    There again there may be a sequence of events that speeds things up, there is probably a number of catalysts.

    Shaddap !

    Who the f**k are you and why should your "expectations" matter to anyone ? Are you on the MPC ?

  6. So why exactly should we care?

    This is a market economy. Has been for years. If my grandparents were in an expensive care home in outer London then I would be very pleased if Polish/Eastern European workers enabled the owners to lower the monthly bill. Or indeed if the increased profit allowed my shares in the care home to rise or the dividend by increased.

    If you are a stupid manual worker who can easily be replaced by someone from Poland or Turkey then the writing has been on the wall for some time. Turn off the plasma screen TV and get your sorry ass down to the local college and enrol on a night class and learn something useful. The options and opportunities are legion.

    Just stop bleating because nobody really cares or has much sympathy.


    Fukkin' A

  7. My experience of the 100K earners is that many of them would rather go bankrupt than be seen to be cutting back. Without the March ski trip, the super-expensive meals and the Porsche Cayenne, many lose their sense of self worth (and the respect of their fellow above average earners). They are much more likely to pop a bit more on the CC or MEW to get the funds to maintain their lifestyle.

    Your experience of £100K earners must've been limited to the more vacuous sort cos there's no way on God's green earth I'd allow myself to be repossessed or bankrupted to save face with a bunch of pretentious assholes. Less than 3 years ago I would regularly get the "insufficient funds" message at the cashpoint and although it was a pain in the ar5e, I do remember those times as being the most fun I'd had in 10 years.

  8. . . . . I get the feeling that maybe, just maybe, this piece is slotting into place, that this could be a major pillar that gives way. The carry trade, the plentiful cheap credit, could actually wither and die.

    I tend to agree with you there. The fundamentals that caused the last crash - rising unemployment, ridiculous politically-weilded interest rates - simply aren't present this time round. The big trigger is going to come from the financial markets. The City has come up with ever more exotic ways of raising profits and hiding losses, no one knows who has what debt on their books and analysts I speak to say that EVERYONE is expecting a major player to announce that there's a stonking great hole in their balance sheet within the next 6 months which'll lead people to start asking about its competitors' state of affairs.

  9. Can you imagine the ashen faces of the commuter-BTLers wondering if they should have got out months, if not years, ago? Message to brain: SELL SELL SELL

    erm . . . no, not really. Everyone knows it depends on what you've bought and when you've bought it. Period conversions bought over 3 years ago are still bangin' in the profits for BTLers. Sure, your new build in some identikit estate in the ar5e end of Hertfordshire or next to a flyover in East London is gonna be losing you money all day long if you've recently bought it but most other assets in good locations will perform adequately.

    GC2 is postponed for another quarter . . .

  10. Probably isn't even his money. He probably borrowed it at 2.5% in Switzerland and dumped it into a hedge fund based on an expectation of 20% returns.

    And if you borrow money to buy shares in a company that borrows money to buy debt-derivatives issued by a company that borrows money to buy debt from individuals who borrow money without thinking about whether they can pay it back, you deserve everything you get.

    Why. Because he's been clever enough to make money out of nothing ?? <_<

    I s'pose you wouldn't welcome his income, would you ?

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