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House Price Crash Forum


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Everything posted by tenroom

  1. Tell the Unix Support Engineer to get a job in the City. He'll hit 40 large all day long.
  2. Nope. Bought on my own in 1997 cos I couldn't be dealing with renting.
  3. Nothing wrong with shared ownership. i used to arrange those mortgages for buyers back in 1996 and - believe me - far from feeling like idiots, they're laughing now.
  4. Have a quick read over the post from the beginning of August . . . you'd have thought prices were going to plummet 25% overnight. Obviously, the increase won't filter down into any meaningful statistics until November but I don't hink it'll make any significant difference. There WILL be another increase this year though and at that point, SENTIMENT could begin to change.
  5. Sorry but you're not being totally honest . . . with us or yourself. What the hell do YOU care if someone you've never met spends his/her money subsidising their BTL tenants ? I think you're just pissed off cos they've taken a risk and may be profiting from it expecially if they've bought more than 3 years ago whereas you feel you missed the boat. That in itself isn't a bad thing, but you should be straight and say it. If I hadn't bought a place and saw lots of people making capital gains on property, I'd be pissed off too . . .
  6. Desperation is not attractive. Most of the bears on here have two+years of egg on their collective faces. The Correction come but regurgitating the same old stories just to reinforce the consensus is a tad boring.
  7. I'm thinking of doing the STR thing too. My reasons are pretty sound I think. Ex LA gaff in North Kensington which BTLers are particularly interested in at the moment (I'm told) because of the much higher yields. I think the marketability of these types of property will only last as long as there are only meagre yields to be made on the far more expensive equivalent 3 bed period conversions which cost nearly 40% more. Just don't wanna watch the pot of dosh - nigh on £120Ks worth - rapidly disappear when the "correction" comes and the market's flooded with well refurbished period conversions w
  8. Hmm . . . I can see why you might think that pent up demand from FTBs might limit any dramtic falls but I think most FTBs would baulk at the idea of getting what would still be a fairly large mortgage when the underlying security is still falling in value especially when very few will be able to accurately call the bottom of the market. Despite proclamations to the contrary, most of the priced out and "frustrated" FTBs are more pissed off at the thought of missing out on the great HPI and the illusory feeling of wealth it creates than the mere fact they don't own their own property. i know t
  9. I'm beginning to think that even if rates increase to 7%, many of the marginal yield BTLers may be ok. I don't think they're all sheep and I'd imagine that many of them would've had the foresight to fix their interest rates if only for a few years. Frankly even if the capital appreciation they're expecting starts to go into reverse in the next few years, I can't see many of them offloading their properties just because the paper value of their assets are temporarily reduced in any correction. I believe the motivation for BTL - the current motivation at any rate - is medium to long term capit
  10. I remember seeing two bed flats in Notting Hill going for £95K and North Kensington at £75K in '95 That wouldn't buy you a matchbox now.
  11. Nice penthouse in Holland Park/Ladbroke Grove would do me . . . .
  12. Oh you ******* PEASANT, shut the **** up . . . . How do YOU know if they're spongers. Are you saying everyone who's lived in a council flat is a good-for-nothing parasite ? Lots of people bought their council homes and have worked bloody hard to do it often doing jobs that *****s like you wouldn't dream of. I can understand folks being pissed off about the HPI and the fact they've been priced out but most of these RTBs are buying schit pits which will be very difficult to flog on later so have no fear . . . they're not gonna be spending money that the poor, hapless priced-out wannabe FTBs cou
  13. Yes we did ! Mortgage Corporation, Household Mortgage Corporation and First Mortgage Securities to name but a few . . .
  14. Oh fer cryin' out loud ! The picture's just been taken with a crappy mobile phone camera . . . probably 0.3 megapixels.
  15. That's the midlands for you. My ex-council 3 bedder's just been valued at £280K.
  16. Hate to say it but I've got a feeling the Fed's gonna hold on a bit longer. The EU just left their rates on hold and I think the BTLs are still bowling along just fine - rate increase or not. Spending on the high street's gone down a touch, people are paying off expensive debt on store and credit cards maybe indicating that even the "sheeple" are cottoning on to the fact that the party can't go on forever. 2007 may very well be the last year of the HPI but I think it'll take rates over 5.25% to push us over the edge.
  17. er . . . ok Mr Missing the Point which was that some of these bears are so desperate to have their theories proven correct they're willing to wheel out ANY old mickey mouse set of figures that appear to lend weight to their argument . . . . even if they've been banging on about it for YEARS. It's not clever or astute to trot out someone else's wack statistics and to do so whilst ignoring perfectly plausible explanations for them - ie lack of suitable property on the market to purchase - just proves that you've more time to sit at your screen researching useless information than everyone els
  18. *Yawn* Yadda yadda. . . . more "damning evidence" eh ? There IS another reason why there were fewer completions . . . and this may come as some surprise to all the jokers who CONTINUALLY spout conflicting claptrap and - obviously - scour the web looking for more and more obscure evidence of the impending HPC that they've been banging on about for nigh on 3 years . . . . er . . . there isn't enough supply of property to meet demand Jesus H Christ !! Yes the HPC will come but holding every f***ing piece of bo*lox out as "proof" so you can say "I was right" is pretty sad. Remember you've bee
  19. If this country were to limit immigration in any serious way it would be all the confirmation anyone could possibly need that Britain, the US and its allies are simply meddling opportunists who care about nothing more than maintaining their respective economic and geo-political status quo. The levels of immigration in this country are directly proportionate to the levels of intervention and meddling in the affairs of other nations around the world. Our leaders have made the causes and now we must deal with the effects. It's a lll very well bemoaning the arrival of the immigrants that people o
  20. To be honest, this forum is no better. Twice now I've tried to start a topic which concerns the BTL market and twice it's not been put on the board. It concerned the areas of the BTL market in which a LOT of LLs are making those legendary yields so often alluded to in yeasteryear. Guess the mods wanna keep the number of bulls down relative to the bears.
  21. Maybe their resident report gimp has better things to do today than tout yet another utterance from some "repsected" commentator as proof of an impending HPC
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