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tenroom

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Posts posted by tenroom

  1. The UK enomomy is great if you are a banker, property owner or gangster.

    I think you believe that everyone sets as much store by money and its perceived enhancement of daily life as you do. For sure, if you're blighted by status anxiety the I guess you willfeel pissed off about not having the appropriate flat/house, the new M3 convertible, the management role at work and a bird with the right looks and a deep cleavage but that's only if you measure yourself by whatever everyone else appears to have.

    I know plenty of people who rent off the council, drive buses or tube trains, work in shops or for the post office who are perfectly content and don't spend their lives bitching about not being able to buy property.

    Trite as this may sound, there is much more to life

  2. You are not Gordon Brown in disguise are you? What is wrong with expecting £40K & a decent pension when average HP cost £200K? If you want people to get paid Eastern European wages you got to provide Eastern European cost of living, can't have your cake & eat it I am afraid.

    Maybe everyone should just shut up & work for peanut wages forever to pay “elite” landlords’ mortgages. Good old labour I can see that it has changed people’s expectations to suit its miracle economy.

    Well, y'know if we lived in a country where employers owned all the properties, then I guess there wouldn't be a problem with paying a grunt 40 large to do a job. But hte fact is that it's not an employer's fault if an employee can't afford to buy a property and nor should it be. Shelter is a basic requirement but ownership of said shelter is not.

    In any case, the comment was meant to highlight why Britain can no longer be a manufacturing powerhouse.

  3. I'm no expert, but I can't help think that people in Britain used to make things, which other people would give them money for. These days, we seem to make very little, and work in the kind of jobs that can disappear overseas very quickly indeed.

    In summary, then: :blink:

    Oh we still do make things . . . it's just that our workers expect £40K, a company car and a final salary pension scheme to do it. I think people hark back to Britain's golden age far too much. Thread after thread has discussed why we cannot compete with the emerging economies when it comes to manufacturing cheap goods. Everyone - on here anyway - tends to slate London but the fact remains that our lovely capital city is stupendously successful as the financial centre of Europe and maybe one day, the world. It's not an accolade that'll ever be foisted upon Beijing, Shanghai, Pune or Delhi. Things have moved on - much of it to our detriment - but I can't see a day when the expertise of our financial sector is shunted to the far east.

  4. Actually the majority fixed in the August when the interest rate dropped as they thought that would be the bottom

    watch september this year!

    Erm . . . No - they didn't ! I clearly recall a stampede for fixed rate deals around the time I fixed mine at 4.95% for 5 years and that was in Oct '04. Obviously I can't be sure how many took 2 or 3 year deals but I do remember those deals running out a lot quicker than the 5 year ones. Again, where are all the stories of mounting difficulties of people coming to the end of their 2 or 3 year deals ?

    Time to stop clutching at straws methinks

  5. http://business.timesonline.co.uk/tol/busi...icle1942040.ece
    From
    The Sunday Times
    June 17, 2007
    Borrowers face £1bn mortgage shock
    Homeowners will see the cost of their loans leap as their fixed deals come to an end and higher interest rates begin to bite
    Amanda Ursell and chef Franco Beer
    HUNDREDS of thousands of homeowners face a £1.3 billion mortgage shock in the next few months as they come off rock-bottom fixed rates taken out in 2005.
    More than 800,000 borrowers, who have so far been insulated from the one percentage point rise in interest rates since August, will see their annual mortgage bills leap by an average of £1,500 when they remortgage, according to research by Deutsche Bank......
    Borrowers whose deals are coming to an end are being urged to act
    fast
    .
    Several lenders, including Halifax and Alliance & Leicester, raised fixed rates last week and others are expected to follow suit.

    More Great Crash 2 stuff to make our Sunday more pleasant than otherwise may have been the case.

    -_-

    I really wouldn't mind so much but you've been bleating on about the shock awaiting fixed rate borrowers for ooh . . . . lemme see . . . . ages and, lo & behold, there hasn't been the tiniestsniff of a crisis. People have been coming to end of fixed rate deals for the last year.

    RB . . . just how long have you been calling the crash ? <_<

  6. same thing is happening right here IMO - the amount of ethnic minorities getting involved in the tail end of this boom is disproportionate to their overall numbers.

    and this was a juicy quote too

    What ??!!

    :o

    That's the sort of thing that someone getting their social commentary from the Daily Mail would say. You're effectively saying that news of a 10 year old boom in house prices has only just filtered down to the non-white Brits and that makes you a fukking tool.

  7. The thing is . . . if PG was anything of the sort, he'd not have sold his fictitious"empire" 2 years ago and missed out on a significant chunk of HPI. As I've always maintained, he's just a parasite . . . never makes much of a contribution other than last year when he stuck his pencil neck out for a nanosecond to whisper the phrase "Q107" before scuttling back under his bridge. Needless to say, the hopeless gimp was wrong as he always is.

  8. Wrong

    J Jackson used the term white trash 4 times, always in a sneakey manner. He also refered to her as trailer trash and used this phrase 'you cant mix class with no class'.

    But this is all ok, hes black.

    So some bullying = ok as long as your not a white bully

    There might be merit in what you say were it not for the fact that neither Jade Goody nor her mother's race has been used to hold back her socio-economic advancement in what is a predominantly white anglo-saxon country. I'm sure, however, that had Jermaine called her a really racist name like "honky" or "cracker" he'd have been summarily evicted . . . if he could get past all the bodies writhing on the floor in laughter-induced agony.

  9. Called it for the first time Q1 2007. And if I am wrong, i am convinced I am not too wrong. we wont have to wait long now. Forecasting

    1) dropping house prices

    2) oversupply as BTL brigade drop properties like hot potatoes

    3) US recession to kick in sometime next year around the same time

    4) 30% down I reckon over 6-7 years. Taking in account of inflation.

    I don't think the US is going to go into recession . . .. well not a deep and prolonged one at any rate. Any damage as a result of their housing bust has been largely limited to people who - for lack of a better description - simply don't matter. They still have very low unemployment and there doesn't appear to be any major single catalyst in sight. It does appear that we are in a "Golden age for capitalism" and time-honoured, reliable signs of impending doom are no longer relevant.

    We have full employment, the crowing on this site at the prospect of inflation busting pay deals has proven to be embarrassingly premature and the financial sector is still seeing no abatement in M&A activity. It all looks rosy . . . but . . . I've got this feeling. Can't quite place it but something is definitely going to blow up and it's going to start with the hedge funds and PE. Watch this space . . .

  10. Do you ever look at the market outside London.

    Didn't realise there was a market outside London :P

    Seriously though, the crash has been called time & time again. First that uber-tool, PropertyGuru rocked up with his "Q107" bo11ox and RB's been banging on with his "GC2" for the past 3 years whilst, all around, there've been despairing posts from bears who've had the fight knocked out of them and have finally capitulated to the great media swindle and gone out and bought.

    I've no doubt the correction's coming but I just find it highly amusing that the hardcore bears simply can't stop getting it wrong.

  11. Oh FFS . . . I wish people would just shut the f**k up about people working in the City. I work here - in recruitment, not banking - and although I don't bust my balls, I still work fairly hard and pull down just under the City average. There are lots of guys who make 3 times that but they're here 100 hours a week and are too tired to go out and have a real life at the weekend. They're driven by all sorts of things . . . fear of being skint, wanting to beat the other guy or just plain avarice. Equally there are lots of guys who make half what I earn and are the most relaxed, charming and wonderful people.

    Who gives a toss what the Standard thinks ? Reading that paper, anyone'd think that London consisted of the Square Mile and Notting Hill in isolation. We all know the party's coming to an end soon so who really cares ? Jealousy ain't half ugly . . .

  12. EA based in West End finally admitted that despite all the supposed City bonuses, London as eternal fountain of money etc, there is not an endless queue of buyers willing to pay any price for even the tiniest of spaces, although he did insist there is a shortage of decent, London property, which is probably true. London can and will fall IMHO...

    S.

    Sure it will but by nowhere near the levels you lot are expecting. Literally everything in any decent part of London is selling and i include ex-LA in that.

  13. Tenroom, did you know N Rock have just banned lending on B2L new build to include the SEast and London?

    So wheres the undersupply?

    No I can't say that I knew that but it's of no great significance. E London have seen much new build development because they were 5hitholes before. The rest of London - even South - continues to fly off the shelves. Where there are real communities rather than tumbleweed-ridden housing estates populated by poncey, smug "professionals", there will always money to lend

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