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Everything posted by tenroom

  1. It would appear - on this forum, at any rate - that sheer weight of repetition is held in higher esteem than at least some modicum of accuracy. Day after day after day they provide links to stories and anecdotal evidence from sources that, merely days and, sometimes, hours beforehand, they've denounced as being party to the great HPI conspiracy. I find them pathetic in the extreme . . . . "Oh, its trails extend high, high, HIGH into the upper echelons of the ONS, the BoE and the BBC RIIIGGGGHHHHTTTT down to the dark domain of Hades and and his NAEA, RICS and CML cohorts". I realsie that getting drunk, doing the Devil's dandruff and blasting an inebriated female through a headboard can hardly be constituted as quality pastime (any more than once a month ) but it's got to be better than sitting at a computer trying to convince everyone that - ultimately - the world is trying to f**k us over at every turn.
  2. I'm gonna bookmark this topic and come back to it in April/May '07. I mean don't you armchair economists EVER give up trying to be right ?? You've been wrong, wrong, FU**ING WRONG so many times and yet, here you are - yet again - making forecasts that completely fly in the face of news this week on inflation and on HPI. You bang out conspiracy theories when your soothsaying proves embarrassingly inaccurate, you harp on about interest rates not being the key to HPC then countdown the minutes to the next MPC meeting after spending week after week providing links to hack reports about the downturn in the price of rice in Lagos and its connection to UK proeprty prices . . . How long can you go on ? Come on, go out tonight. Get leathered, have a line of chang or two, pull a bint and have some sort of life . . . .
  3. Frankly, HPI's a daft reason to leave your home . . . .
  4. That's pretty irrelevant if you're selling, isn't it ? And Cletus, I'm not sure that London has spare capacity left to 2012. When this much vaunted "correction" comes I think it'll sweep thru the country like a bush fire. There are sections of London that are so ridiculously overpriced as to make even the most ardent bull wince.
  5. There's a HELL of a way to go, I'm afraid. The last crash didn't see prices hit rock-bottom for 5 years. That's a helluva long time to wait if you're trying to buy your first proeprty. News for the bulls has, indeed, been encouraging . I do confess to feeling a little more secure in my choice not to STR just yet. I think the government and the BoE have got inflation licked short-term and the economy can wear a few repossessions and IVAs as long as they don't mount up too much. Plain sailing for about 6 months then time for re-evaluation mehtinks. Bar a SERIOUS, and unforseen event, I can enjoy the goose this Christmas
  6. But against all the odds and despite the constant barracking on here, they appear to be getting that capital appreciation.
  7. Hmmm . . . hoping that sheer weight of bear responses will bludgeon everyone into taking up the cause . . . .
  8. I must say I'm detecting a slightly more conciliatory tone from the bears today. I mean, two blows to their cause in the form of the quarterly inflation report and the HPI rates may actually have some of them throwing in the towel. BTW . . . Tooting is a sh*thole - no wonder the guy can't sell . . . If it ain't north of the River, it ain't worth buyin'
  9. Well lemme see . . . . Given that you guys are (a) continually clamouring for them to go up and ( when they do, you throw online IR parties, I'd hazard a guess that they've got a LOT to do with a HPC.They did have a not insignificant part to play in the last crash from recollection.
  10. Oh dear What are the bears to do ? "LIES, LIES, LIES" they cry. HPC delayed it appears. "If they're so clever, why weren't their forecasts 2 years borne out in reality ?" they trill . . . I'd like to meet someone who was able to accurately predict economic trends two years in advance. I don't think the bears will be priced out forever . . . . a year or two methinks. Ah well . . . where's that number for Ocean ? May as well buy that Lotus Exige after all . . .
  11. It doesn't matter whether or not the figures are true. All that matters is that people believe them to be true.
  12. Oh for F***k's sake . . . Here we go again . . . . yet another thread where young people bitch on about how tough they've got it. Well here's a wake up call for you. For every one of you complaining about your lot, there are loads of your counterparts out there, taking advantage of their youth and vitality to forge a way for themselves in a country which still has opportunity for those with a little gumption. So you can't afford to buy a property . . . so bloody what ?? If I could go back 10 -15 years or so, I'd look at it as an opportunity to enjoy life without the encumbrance of a mortgage and debt. Maybe spend my insufficient deposit fund on a business idea or an investment opportunity. I was born in 1967 and didn't buy until '97. I had - and still do have - an absolute riot . Birds, drugs, good bars/clubs, excellent music. I bought when property was flat and, no doubt, some you will too.
  13. what i found most alarming in that piece was the fact that only 59% of loans were on a fixed rate basis. what are these people on ?
  14. Oh FFS What is wrong with the guy buyin' up a few properties ? Surely it's up to him what he does with his money. All this rich get richer bo11ox makes you sound like commies !
  15. Oh, I dunno. The Mirror has a large readership among the less thrifty and clued-up sections of Joe Public and they're the ones who are running to lenders like the Abbey and Northern Rock for blow-out mortgages. If they can be reached, then it's reasonable to expect a significant proportion of them to sit up and take notice. Why ? Be that as it may, one can't help but factor in the advice dished out by parents and the sheer influence of the media. Most folks simply aren't going to sit tight and wait for the crash. I mean, after nigh on a decade of spin, property porn and stories of retiring property millionaires bouncing around, most people minded to buy at the moment still won't consider renting to be a desirable alternative.
  16. Now THAT is damning evidence if ever I saw it. Might be worth registering with a few auctioneers now for when the pinch hits my neck o' the woods.
  17. Now this is EXACTLY why I referred to RB as a tool in the recent poll. I mean how the F**K can the BBC be considered a propaganda unit of the government ? I mean how short does he think our memories are ?? Wasn't there a significant resignation over the "whitewashed" Hutton report ? Was that some sort of double-backflip reverse psychology at work. Was the whole BBC/Dyke/Andrew Gilligan affair designed to demonstrate the governement's determination to quash all dissent over Iraq by bringing the wider (and hushed) doubt over Dr David Kelly's death on to the nation's breakfast tables ?? The BBC are constantly having digs whether it be in the thinly-veiled bias of its reporting in Iraq or in its indirect sniping over the government's support for Israel during the month-long war in Lebanon this year. You know, I really wouldn't mind so much but SO many forum contributors consider him to be a reliable, accurate source of information and THEN have the audacity to call ordinary folks getting on with their lives, "sheeple". I mean there's hyperbole and then there's pure misinformation and if newcomers are going to embrace the all-too real possibility of an HPC, perhaps you lot ought to revise your support for this gimp.
  18. To be honest, not very much although this can vary from lender to lender. Lenders generally don't really care as long as the mortgage is being serviced in accordance with the mortgage contract. The main problem comes if they need to forclose because if there are tenants in situ on the day with term to run, the lender deosn't have vacant possession of the property and the tenants have rights. In addition, if the property being let is a house, the buildings insurance is effectively void as there is a "business" be ing carried on at the premises so, if it burns down, the insurer doesn't have to pay out. Obviously, in the case of a flat, this doesn't really apply unless the leaseholder owns part or all the freehold. Having said all that, some lenders would increase the rate and ensure the borrower effects alternative insurance rates. Sorry but if you think they're gonna repossess the place, think again. If it ain't broke, they ain't gonna fix it.
  19. "And the truth shall set them FREE !!!!" EXACTLY what i've been saying since I arrived here. Many of the bears on housepricecrash.co.uk are willing the market to crash so THEY can experience what they perceive to the smugness of people who bought before HPI and are now sitting on a Chevy bootful of bucks in equity. It had sweet f**k all to do with wanting to own a place of their own but it had everything to do with pure, unadulterated envy.
  20. Well once they've got a county court judgement against you there are a number of measures they can use to recover their money including bailiffs etc but to be honest, very, very few judges would grant a possession order for the recovery of a piddling debt of, say, £10K. They'd probably take the view that if the lender wants repayment from the proceeds of a house sale, perhaps they should have secured their loan on the property. What you do with the proceeds of your maxed out credit cards is entirely up to you. It's unlikely they'd be able to tell what you did the money as it's equally unlikely you'd exchange contracts by taking the deposit off your credit card. Can you imagine your brief sitting there with the PDR machine asking you to enter your various PINs ??!!
  21. I think many are either failing to realise or just ignore the fact that the overwhelming majority of mortgages granted in the last few years have been on a FIXED rate basis. I don't believe the trigger is gonna be mortgages. More likely credit/store cards as these very rarely have fixed rates of interest. I dunno about you lot, but personally, if I was up against it, I'd let the credit card companies whistle for their dosh. Ok, so I'd get a CCJ or something like that but ultimately, I'd keep my house/flat and that's gotta be the most important thing. A poxy .25% increase won't affect the majority and if it does affect a few idiots up North, who gives a sh!te ?
  22. But these elements aren't exactly in effect at the moment are they. Sure there are more people on the dole queues but then there are more than ever actually in work. I work in recruitment and, believe me, there is a serious skills shortage in things like IT. Even a quick look at job boards like Monster will show just how many jobs are going begging at the moment. Last time around, jobs were disappearing like nobody's business, interest rates were high and the pound was on the floor. Our situation isn't anything like that at this juncture.
  23. Nah ! I don't htink the BoE deliberately set out to cause HPI. Interest rates didn't get this low because they decided one day to create an environment conducive to rampant house price inflation per se. The economic conditions called for low rates and post 9/11 the threat of worldwide recession appeared to warrant rate cuts to stimulate growth although the effect of a terrorist attack these days doesn't even cause a flicker on a trader's screen these days. Even if the MPC were, indeed, only in existence to control wage inflation, their actions still have the effect of calming inflation further up the chain. It'll be interesting to see, however, just how independent they are if the need to erode these debts becomes overwhelming. I read yesterday that credit card borrowing has been at its lowest for years with more net repayments being made than at any time for a fair old while.
  24. As someone whos been placing IT gimps for years I can say that they're mostly greedy mercenaries out to make the most they can for doing the least amount of work they can get away with. Conversation with a candidate recently went along the lines of the following : "Thanks for sending your CV but the ad specifically states that the role requires a sound grasp of C# and .NET so I'm afraid I can't submit your CV to my client." "Yeah but I've got Java" "I see. And that makes a difference because . . . . ?" "Well it's a better language, more robust" "Ok. Well Mr XXXX, Let's say you drive a Ferrari and need to fill up. What you've just said is tantamount to my offering to increase the compression ratio of your engine to 15:1, substitute your spark plugs for glow plugs and sell you diesel for your tank because you'll get better fuel consumption." "Well how's that then ?" "Well because I don't think my client is going to throw out his Microsoft architecture and replace it with Solaris just to get you on board" He didn't like that for some reason and told me to F*** off. Charming ! The sheer number of candidates who turn up to interviews and flunk technical tests is a towering embarrassment considering what some of them are asking for in terms of remuneration.
  25. I think the days of debt being seriously eroded by inflation are over. Remember that the BoE was only made "independent" of the government when Labour came to power. Prior to that, we got used to seeing interest rates cut in the run up to a general election and then raised againas soon as there was a run on sterling inthe money markets. The raison d'etre for the BoE now has clearly been named as the firm management of inflation . . . . in ALL its forms. 2.4% CPI or RPI back in the "good ol' days" wouldn't have raised Robin Leigh-Pemberton's fairly bushy eyebrows.
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