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House Price Crash Forum


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Everything posted by tenroom

  1. Of course you did . . . . I'm THAT gutted. *****
  2. I'm afraid it's going to take a lot more than a few repossessions to tip the market into the crash you people so desperately want. Last time round, the slump in house prices was given a particularly sweet sucker punch on the way down by the significant economic downturn during '90 - '92. These conditions simply don't exist at the moment. It's gonna take interest rates to go much, much higher than a poxy 5% to do it.
  3. Really ?! Nah ! Not at all - I just have a problem with some of the hyped up bo11ox posted by the more desperate elements in the bear community and their attendant sour grapes at not having benefitted from HPI sssooooooooooooo . . . . . I wind them up a bit. No I really am a "neither" and believe that so many elements of our way of life, our economy and our outlook are SO interconnected with people, places and markets that we'd not even heard of back in '88, that accurate forecasting is even more difficult than it was back then. Should've gone belly up in '04 but it didn't. With repos going up, more IVAs (and sh!tloads more to come with the November IR increase) increased unemployment there are going to be a lot more properties on the market soon.
  4. Oh Puh-lease In the case of City traders, their job is to make money for the banks or trading firms they work for. As an incentive they're paid commission and/or bonuses. Would you go out and bust you r butt to make money for your firm if there wasn't anything in it for you ?
  5. Beg your pardon, mate . . . . couldn't be arsed to go through the rest of the posts but yes, you're absolutely right about people who stayed out of the market back then but I'm afraid it's all gone a bit far now some 6 years later. I'm not sure about the probability of a recession but the housing market ??!! My God it's gonna be ugly !
  6. I don't disagree with everything he posts cos - on occasion - he has drawn attention to one or two relevant links to stories that have proved educational but based purely on his zeal for posting repetitve and often irrelevant material, I'd have to say the guy's a tool. His commitment to the bear cause borders on obsession. That wouldn't be so sad if he was actually a position to actually affect anything but posting the same topics ad nauseam is immensely tiresome
  7. Because the bears appear a little too desperate to be proven right that they often utilise too much of the hyperbole that that they attribute to the VIs they're forever berating. RB for example would post a link to the increase in bay oil prices if there was some way - ANY way - to plumb in a correlation between said prices and the UK housing market. The bulls are, for the most part, trolls just winding up the bears cos they know the bears tend to be priced out FTBs. They're the board equivalent of Harry Enfield waving his wad in the face of a tramp.
  8. I wouldn't call it an attack - merely an observation. Prices were up to 20% cheaper in 2004. Life is nothing without risk but having said that, if most of the bears and proced out FTBs on here are to be believed, flipping properties for a quick buck never entered the equation. According to their lamentations, the most important thing to them is, was and forever-shall-be the realisation of the dream of owning their own home. Taking them at their word , I'd have to say that they've every right to be gutted but, hey, that's life. I'm more inclined to say, as I always have done, that it's more likely that they're f***ed off they haven't had the opportunity to cash in than they are about not owning a box somewhere.
  9. High interest rates, wage inflation, ERM caused that. There weren't any official 5 X mortgages being offered around that time. The self cert/non-status mortage was in it's infancy as were deferred, low-start mortgages. Jesus, where do you people get your facts from ? Abbey's getting flak for making 5 X income multiples official that's all. Everyone of us probably knows someone who's managed to get a huge sum of money from a lender despite being on a fairly modest salary. It's not as if any oik of the street can walk into the Abbey and actually GET this mortgage unless they've got 25% deposit and no social life but, there you lot are - soaking it up like the "sheeple" you slate. The journos writing this negative crap are no better than the ones talking up HPI and the fact that you lot can't or won't see thru the bullsh*t unless it lends weight to your own opinions is pretty revealing.
  10. WHAT??!! . . . no blood-soaked streets ??!! No moving pictures of destitute families living in skips ??!! Nothing ???!!! But . . . . I thought . . . . I mean . . . you guys PROMISED !!! I WANT MY CRASH !!! :angry:
  11. So by your logic it's ok to sit here calling the crash every day because, for you, there never was any scope to make money out of flipping properties cos the gaff you were after was a 1930s place requiring considerable amounts of updating ? Each tot heir own an' all that but if you'd compromised a little, you'd have been able to buy something a little more ready-to-go and still made yourself some cash. Which reminds me, why would you have had estate agent's fees to pay if you'd have been a FTB ?
  12. I'm not saying that at all. My point is that if, instead of spending the last two years calling a crash, some of you fuys had actually gone out and bought something, you might have stood to have made a bit of corn. Sure therre is a geographical factor which means that some areas may not have enjoyed the sort of gains that our media has been banging on about but I reckon that everyone could have made a profit of some description. Of course, to go out now and flip a gaff wouldn't be advisable for most areas but that doesn't mean that the opportunity existed as little as 2 years ago. I was advised by a mate to STR in '04 cos it was all, in his words, "about to go Pete Tong". If I'd done that, I'd have lost out pretty big (£circa £30K) and I'd've been dishing out significantly more to rent than it costs me in mortagage payments. Frankly, if I'd been an FTB back then, I'd've gone for it instead of listening to the doomsayers calling the crash
  13. What amazes me about some of you guys is that despite the fact many of you have been wearing that egg on your faces for an awfully long time (since 2004), you still refuse to believe that it IS different this time round. Yes, the bubble will burst soon enough but surely the fact that it didn't in 2004 confirms it. Is sitting in your own personal bubble calling the end of the world while the rest of the country buys to its and the VIs' hearts content really making you feel part of the "in the know" brigade ? Will the satisfaction really enhance your lives that much ? I mean, come ON . . . if you'd gone out in 2004 and actually bought summat, you'd now be in a position to sell on now to the "sheeple" as you call them at a handsome profit instead of watching the wagon roll on by . . . . Yes, you're right . . . it's gonna end in tears but surely it would've been nice to make some corn out of it, no ?
  14. That question could only have been asked by an idiot . . .
  15. Yes and there are MASSES of those BTL properties on the market just now, right ?!
  16. Not being nosey or trying ot bait you or anything but how much would they need to drop by for you to get on board ?
  17. So what if he's clocked up 3000 posts ? RB's clocked up 8000 and according to him he ain't worried about diddly cos he's that switched on about economics Believe it or not, for many people, HPC and any subsequent recession is merely a topic of discussion rather than some sort of plague that'll smite the unclean homeowners and pass over the meek. . . . those with "HPC.co.uk" daubed in the blood of an estate agent on their front doors.
  18. I have to agree - I didn't actually realise that one had to deposit 25% of the purchase price but now I do, I don't think it's that much of a big deal. A bit predictable that the other thread is filled with people recoiling in horror. They can be just as "sheeple" as the FTBs and BTLers they berate.
  19. Who knows but one thing I do know is that my ex-g/f knew absolutely nothing about mortgages etc and within a coupla days she knew which lenders would lend her £200K + based on the fact that she's an Oxford graduate earning £35K. Against my explicit advice, she went ahead and bought a fairly nice 1 bed flat in Bayswater for £230K. Thing is last week, a property investment firm said they'd give her £275K for it. She only moved in this time last year
  20. I read on one of our posts, that you earn comfortably above average salary. If I assumes, say, £45K then you could borrow up to £225K. Assuming, again, that as a prudent individual, you'd have saved up a good 10-15% deposit, I reckon you could easily buy a £250 - 275K gaff. Now, I'm sorry but you can still get somewhere decent for that kinda dosh. Unless of course, like others on this forum, you're expecting Park lane, W1
  21. Lenders have been doing this for a few years now albeit unofficially by playing the "affordability" card instead of relying on multiples. There are people who can, indeed, weather interest rate rises owing to their choice of lifestyle.
  22. I see . . . so anyone who bought pre-boom is - according to you guys - ripe for prosecution or should that be persecution. "Oh woe is me ! I've been priced out by the government, the estate agents, the chavs on the council estates, the immigrants . . . . I blame everyone . . . . but myself" . . You people are the embodiment of everything that's wrong with this once-great country. You think it owes you a living.
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