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Everything posted by tenroom

  1. Well instead of you people - again - relying on crunching ******** figures why not employ some of the real world knowledge that most of you claim is lacking in the members of bodies such as the BoE. Mortagage lending is down because . . . . wait for it . . . . there isn't enough property on the market for people to buy. As far as remortgaging is concerned, believe me . . . there's a whole legion of folks waiting until rates rise before they consolidate loans and unsecured credit because contrary to the opinions on this forum, most folks actually get further advances from their principal mo
  2. I sincerely don't think that anyone seriously believes that prices can't go down. They've just been conditioned to believe that they're very unlikely to do so. I would doubt that anyone pursuing a lawsuit of that nature against a lender or VI would have a snowball in hell's chance of victory. Suits for mis-selling of interest only loans may be an entirely different thing but after the furore surrounding "low-start" and "deferred interest" mortgages back in the late 80s and early 90s, most lenders and brokers make people sign a disclaimer stating they've understood the "advice" they've been g
  3. I wonder if the correction will be limited to hotspots in this country. Most think London will become immune but, if memory serves, (it does) London was hit pretty damn hard last time.
  4. Needless to say, mu doubts over HPC haven't evaporated
  5. I got my fixed rate at 5.19% for 5 years about 2 years ago and felt a bit sick when rates started going down again but now I guess it was the right thing to do. I tell you. if I didn't have it, I'd be f***ed in a years' time. Only problem is the redemption penalty cos i wanna flog the flat now
  6. Spot on ! It's comical how many people are still buying this type of property to live in. Admittedly, many of them have lived in them for years so know their communities but it's always amusing when Pippa and Ned types from leafy Esher turn up with the estate agent to view them simply cos they're situated in Zone 2. They're great for BTL cos housing associations love 'em for shacking up asylum seeks etc.
  7. No idea but neither does anyone else on this forum. I clicked on another link on that story and found this. I think that, given the demand for BTL dwellings in London, there is a little more capacity for the HPI bubble to expand and bar any terrorist outrage on a 9/11 scale, it'll survive until the next round of City bonuses in February.
  8. Oh please ! Nothing to do with being worried. It's just that each day, without fail, he posts a number of links to stories written by lame hacks who reckon that, among other things, the drop in yields on BTL mudhuts in the f***ing Congo will feed back into the UK and crash house values in Spalding, Lincs. Not only does he hope we'll take it as gospel but what's worse is that when similar sources report that, say, the recent rate increase hasn't dented demand for property, he'll denounce them as VIs and start spouting his "smoke and mirrors" conspiracy theories, despite the fact most of us a
  9. Jesus !! Are you ever going to pipe down ? If the case for interest rate rises and the subsequent "crash" you're so desperately wishing for were linked to the amount of trivial "news" stories you provide links to, we'd have rates at 20% and 70% off HPC tomorrow. Just because myknitting.com has a piece on property, it doesn't mean it's a credible source of information and it CERTAINLY doesn't mean you have to link to it. The point I'm making is that shouting HPC from the rooftops at anyone who'll listen, doesn't make it happen.
  10. Those coming in from outside the EU are even more unlikely to able to afford to buy a house than the Poles.
  11. I'm not gettig this argument about immigrants rocking up and fuelling the housing "shortage". How many folks from Poland or wherever can actually to afford to buy a home in the UK ? Are we really saying that there are enough instances of 10 immigrants to a flat/house to push HPI that much longer ? The real reason for HPI and its longevity is down to the alternative pension brigade and panic purchases. Any effect immigration might have is negligible.
  12. I can't for the life of me understand why the f**k people are bitching about immigration so much. Regardless of which political party is in power, the UK has an obligation to allow anyone from the EU member states entry into this country. Believe it or not, other member states have as good if not better welfare systems than we do and they're not blaming their woes on the immigrants. Sure a lot of arrive and ask for housing but then again - as the show on tv the other night depicted - we've got more than our fair share of homegrown layabouts rinsing out the benefits system. It's not the nation
  13. No it's nowhere near there. It's in Ladbroke Grove and it's low rise (3 floors).
  14. I agree with Charles on the council matters. There IS a stigma attached to them. They only tend to sell easily when the market is doing well and there isn't much in the way of good quality period property available for purchase. I bought an ex-LA and although it's LITERALLY quintupled in value, I have no control whatsoever over who Kensington & Chelsea throw into the block. A bloke bought the 4 bed at the end of the block and rented it out to Aussies etc but soon enough he was having voids as all the BTLers were offering nice done up period conversions for equal money. He had no choice b
  15. You aren't half a ****, Laurejon. I s'pose - in your addled "mind" - there aren't any white immigrants and if there are, there's no way on earth they claim benefits, is there ? You bang on about "educated" Brits but obviously don't live in the real world because if you did, you'd know that most of them don't have even as basic a command of the English language - spoken OR written - as the African toilet cleaners you berate. This site shouldn't make anyone bitter, really. The HPI began in earnest after 9/11 when central banks devised a way to keep their economies chugging along in the face o
  16. So how, then, are you any different from the "evil, sinister VIs" you routinely slate ? Ok you're advocating the opposite to the newspapers but sensationalising obscure snippets of information is pointless as the majority of the forum's readership are by their own admissions, not sheeple and can make up their own minds. Some might say you're trying to convince yourself that HPC is, indeed, a foregone conclusion. . . . even though I recall you trumpetting the same with similar enthusiasm in 2004 . .
  17. Mate . . . you're in the W.Midlands . . . of course you're gonna see falls up there. I'm not trying to be cocky - honest - but in the South East and other parts of the country, HPI continues apace. Oh and can we PLEASE ditch the " . . . is 4 X income realistic" argument for calling the crash ? It's so f***ing boring reading it everyday. FTBs don't matter anymore - deal with it. BTL has run away with the ball and they ain't gonna drop it until HPC ffs . . . .
  18. The BTLers will sort 'em out with somewhere to live
  19. http://www.housepricecrash.co.uk/wiki/1990...rices_this_year
  20. Damn right. Any community - remember that word - has been bleached out to build *****y apartments for oh-so-smug and cerebral bankers who only interact when posing with their 911s and Ferraris. It's totally dead.
  21. That's cos you went to the wrong places. Sure . . . the obvious places in town can be somewhat formulaic in their clientele and theme but if you get to go places like Momo's, Hedges & Butler or even Nobu Berkeley, you'll change your mind instantly. London property WILL drop come the correction. Anywhere south of the river will definitely plummet but places like Chelsea, Kensington, Notting Hill, St John's Wood etc should hold up better. The last time, I remember seeing 2 bed flats off Portobello going for £100K . Compare that to almost £450K today.
  22. But London IS the place to be. There are other decent parts of the UK but for the most part the best clubs, bars, restaurants, facilities etc are right here. Obviously it depends on what you want from your social life but if you're relatively young or like going out etc, London is impossible to beat. The London property market is not as invulnerable as you make out. Even prime areas of the city eventually caved in last time around.
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