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House Price Crash Forum


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Everything posted by tenroom

  1. Damn right . . . Foxtons charge 2.5% I quite like that housenetwork.co.uk business model. I reckon the people who've been trying to sell that house in Northumberland have either been asking too much or the market's dead up there. I was thought the guy selling through Houseweb might be being a little greedy. After 30 viewings in 3 months - considering Houseweb can't advertise on Rightmove or the other main sites - surely he's been offered what the gaff is worth ?
  2. So are the BBS saying that the new internet agents are sh*t or that those properties are just not selling ?
  3. The bulls have been right thus far . . . even after the much-heralded crash of 2004 that never actually materialised. Of course there will come a time when it implodes but you cannot ignore the herd mentality. Surely no one imagined, back in 2004, the the exotic mortgage products we have now, would've seen the light of day but here we are - plain as the nose on your face - looking on as groups of friends 4-strong club together to buy a house/flat in the hope that the HPI phenomenon will continue and give each of them a lump suum with which to approach a mortgage lender on their lonesome. I don't think ANYONE with half a braincell can possibly believe that HPI will continue much longer but that's not really what's at issue. Timing is the issue. Some believe Q1 2007 - I don't - but others believe that by the end of next year - like me.
  4. It wasn't my intention to insult Grumpy per se but I have no qualms about taking issue with a parasite like you. You have no real raison d'etre, do you. Your signature tells that you've made a shedload of dosh etc etc but your attitude indicates the mindset of the geeky kid I alluded to earlier. You just sit there nodding your head like you're part of the debate but you don't seem to add anything. You just go along with the crowd cos there's safety in numbers. Full marks to you for making your £3.75m - I'd love to have done that but if I had, I doubt I'd be sitting around trying to make myself useful by taking up an apparently neutral position while all along slating people who have the balls to post what they really think about house prices. You, sir, are nothing more than a phantom and we all know what to do with phantoms . . . . IGNORE them - maybe they'll go away !
  5. Fair enough Grumpy Old Man. I'm not frustrated though. I just find the bear attitude tainted by the fact that many of them are, indeed, property speculators who missed out. Their motivations are based on pure avarice . . .
  6. er . . . perhaps you should go away and have a little think about what you really are . . . bull or bear ? You appear to be the cyber equivalent of one those kids at school that no one really knew. You know, the ones who just laughed along with the popular kids hoping some of their sheen would somehow rub off on them if they stood close enough to the "cool" pack. The post was made in response to "Grumpy old man", not you. Can't see why you would take issue with it . . . unless of course you're a bear in disguise and not a "neither" at all
  7. Well I'll hazard a guess you were probably one of the original voices calling the crash back in '04. Obviously you were wrong then. It's easy to sit there and say there's going to be a crash now because we've enjoyed (well I sure have) HPI for years. It's OBVIOUS prices are going to go down EVENTUALLY - as someone recently said, "If you tell the time from a stopped clock, eventually you'll be right". I wish bears like you would stop making out that you're oh-so clever and that you can see upheaval coming before the "sheeple" you slate so regularly. Frankly, if you were so smart, you'd have bought years ago, positioned yourselves to liquidate your equity pile now and take advantage of the falls when they do come. You're not part of some clued-up elite. Those of you who could have bought and didn't are just a sad bunch of tossers who didn't see the HPI writing on the wall. Now you've latched on too late, you're bitter so you're hanging around like a pack of hungry lupines for the scraps that the impending HPC will throw you no doubt hopin ghtat next time around, you TOO can be as smug as those you berate.
  8. That's not so bad - Lots of people rent rooms to lodgers. I used to and not only did they pay the mortgage and then some but I made some cracking friends who I still, 3 years on, fly off to see in their native countries. i mean, it's not as if you don't get a say as to who moves in is it ? Buying with a friend seems more fraught with difficulty because they might meet someone they wanna run off with leaving you to either purchase their share or having to sell to release them from their responsibility. i think the Stroud and Swindon have a good 'un there . . . certainly a lot better than 3 or 4 mates clubbing together to buy with the aim of selling up to take advantage of an HPI bubble that's going to burst soon . . .
  9. and if you all club together and write to your MP, he'll have a word with Merv
  10. It's only about as important as yours and the thread refers to a crash in oneor two years not q1 next year
  11. I realise you believe that to be a clever retort but don't you think you should back it up with some real-world evidence ? The economy is underpinned by some fairly sound fundamentals like "full" employment, reasonable pay demands and still low interest rates.
  12. Oh that's bo11ox ! What you call greed is a key part of making the country work. I appreciate that there are some awful side effects of corporatism but you can't shut that sh*t down without turning the country into a wasteland.
  13. I don't htink a few repossessions and a couple of bankruptcies are going to derail this train just yet. The bears've been saying for years that no one can afford to buy but somebody, somewhere right now is viewing property. Bloke in the 20 storey council tower block round the corner sold a 2 bed flat on the 15th - that's right - 15th floor for a cool £250,000 . The lifts are out regularly and more often than not, some oik has relieved himself in them. Sentiment alone simply won't do the trick and people have to realise this cos on the ground where it counts, those little Foxtons minis are bombing around here 'til 8 or 9 at night.
  14. Freelance IT ??!! You must be f***ing loaded !
  15. The City bonus rounds will give us another shove upwards which should last till Spring and then that's it. I'm going to market with my gaff in December and getting out asap.
  16. Nothing wrong with a little chang use now and again.
  17. Some of those headlines and stories are chilling and it's amusing to see that in amongst the doom and gloom people like Savills piping up saying that prices were going to recover . . . and that was in 1990 Of course the trend continued downward for another 5 or 6 years after that. Hearing John Major blaming the "almost crazy house price spiral" for the lack of "feelgood factor" after Lawson/Lamont encouraged it all was a bit galling. Still . . . there's a fair old way to go before my neck of the woods gets like that so "I'm alright, Jack. Pull up the ladder". Still got time to buy that Boxster . . . oh hang on . . . already got one
  18. Can't be sure but I think Cletus bought an ex-LA and sold it after a few years and traded up some time ago so I don't think he'll be be too bothered about HPC denting his equity nest egg. Besides, it'd probably benefit him as I think he's trying to trade up.
  19. Probably why he didn't stick his neck out with a call on when this time round. All he's done is echo the bears on here - "yeah the crash is coming but I don't know when".
  20. Yes it did exist. The centralised lenders had taken huge chunks out of the traditional building society cherrry by starting the trend in mortgage securitisation and offering lower rates. The building societies - with their expensive branch networks - were allowing folks with CCJs and up to 3 months arrears to remortgage to them. Today's Experian/Equifax are light years ahead of the old Infolink and CCN credit searches and I regularly saw applicants with documentary proof of CCJs sail through credit checks without even so much as a raised eyebrow from the lender. Ah the good ol' days
  21. But as everyone here believes, the BTLers are the ones buying up property left right and centre. Interest rates have a damn sight more effect on people's desire to buy than you guys give it credit for. The last crash was based on pure, unadulterated economics - increasing unemployment, sterling's inappropriate shadowing of the deutschmark, rising interest rates (I mean REAL rising interest rates to 11%+ etc, not piddly 0.25 point hikes) and the hotch potch that was the ERM. None of that sh*t is in effect right now other than a few more mouths at the nation's teat claiming benefits but that's against a backdrop of more people in work than ever. If the BoE do start cutting rates again, it'll be like nothing we've EVER seen I was arranging mortgages back then and I tell ya, the crash hit like a roundhouse off Tyson and hardly anyone saw it coming and, to be honest, there will always be someone out there to lend money to those with CCJs, defaults etc. I know cos I did more business during and after the bloodbath by specialising in adverse credit mortgages. Hmm . . . I don't think you guys would be saying that if he'd said prices were going to continue upwards and some very clued-up people have said exactly that.
  22. You guys crack me up . . . If that headline has read summat like "Property unlikely to fall for at least 2 years" you'd have been hopping around like jack-rabbits screaming "VI Scum" and "Associated Newspapers must Die" but because this report comes out and there's nothing better for the Standard to put on their front page, all of a sudden it's credible . . . hell, it's almost proof !! You're clutching at straws - I mean the guy's said that there will be a sharp correction in house prices but he - unlike the armchair economists on this board - won't commit himself to a date. No mention of a specific quarter or even a tip as to what might set it off . . . So before you toss another drumstick on the barbie and dust off Black Lace's "Agadoo", consider this . . . All this guy's done is confirm what you've been banging on about for however long this forum's been open. Of COURSE property prices will see a correction. You don't need to be the chief economist at Stanley's to know that. I thought Morgan Stanley forecast a sharp slowdown in HPI for this year. . . . Oh, and by the way, the Standard puts out 3 issues each day. Your "ground-breaking" headline may be relegated to inside-front-cover by the time the City boys head home to Notting Hill . . . . It was only a matter of time before someone nailed that one down . . . .
  23. Yes . . . even if prices started correcting right now, today, it'd be just another 3 years, at least, before they fall to a level ftbs can afford and even that's assuming they won't want to wait (they will) until the market hits rock bottom.
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