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House Price Crash Forum


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Everything posted by tenroom

  1. You don't need to register to check out the competition - that's what the internet is for
  2. It's so amusing to read the comments from all the armchair economists on here. If you guys are so clued up as to what the future holds for the property market, why aren't you working for Goldmans or BarCap ? That way you'd be one of the people able to afford in this over-priced market and wouldn't be on here wringing your hands at the prospect of all these landlords going belly up. The fact remains that there is a solid core of landlords who are ever-so-good at this sort of thing. They're the kind that make money whether markets rise or fall and have fixed rates, contingents or out-and-out sh
  3. Still, it ain't cool to wish them Godspeed to their doom. You can pity them because they've become sheep who've bought property on the say-so of magazines and popular tv property shows safe in the notion that "they've never had it so good". They know the price of everything and the value of nothing. They will suffer - yes - but I'm not gonna give them a sucker punch while they're on their way down to the canvas.
  4. That is not the point. Granted, people are responsible for their own risks but the sentiment on this board in general and this thread in particular is to give them a nasty, gleeful send off over the cliff and THAT reeks of sour grapes. Better to be noble in silence and hope you don't make the same mistakes than to derive pleasure from someone else's misery.
  5. No ! I'm not ! It is bang out of order to wish hardship on others for whatever reason. I don't CARE if you've been unable to get on the ladder because of high prices. It's not injurious to your health. You're not starving. You don't stand to DIE !! All these idiots wishing ill on others. . . . one day prices WILL come down to affordable levels and the bleeding hearts will buy something nice and - eventually - the value of their properties will rise. Soon the values of those properties will be well out of reach of the next generation of homebuyers. How will they feel when there are a gaggle
  6. Nothing narrow minded about it. Obviously this wouldn't apply to people who weren't old enough to grow pubes let alone obtain mortgages. When I first wanted to buy a flat, I couldn't afford to either cos prices were too high so what did I do ? I waited. It wasn't a big deal and I don't recall this type of celebration when the people who HAD bought stood to drift into negative equity or be repossessed.
  7. It's not puerile to admonish folks who are rejoicing at the prospect of others' hardship just because they're weren't fortunate/clever enough to get on the property ladder when prices were VERY reasonable, my friend. They're effectively saying : "We didn't buy when prices were low-ish and here we sit, looking at all these smug property owners who've made sh*tloads of dosh by pushing the boat out and getting with the "winning team". They're rolling in readies and we've, lamentably, gotten our acts together a tad too late to make money too. Boo Hoo ! :angry: So f**k them . . . hope they get rep
  8. Oh ****** did I. That's the way some tossers TOOK it. There's letting off steam and there's wishing for people to end up in negative equity. I don't give a monkey's about credibility when it depends on following the rest of the gimps in wishing repossession on people who may have very well, perhaps foolishly, over-extended themselves to get on the ladder.
  9. The point is that lots of graduates and FTBs DID get the dosh together to get on. There will always be folks who don't possess the the means to buy property. Hell, I know lots of them but htey're not being nasty and wishing repossession and financial suffering on those that managed to do so. It doesn't make for good karma to wish ill on others, that's all I'm saying. My good fortune on the quadrupling of the value of my flat is exactly that. Nothing to do with my being financially astute or being a housing market visionary. I needed somewhere to live so I bought a place - pure and simple. A l
  10. Yeah it IS ok for me to say that because the people who are bitching are doing so because they haven't had a chance to feel smug. They've not had the chance to feel safe in the knowledge their "cleverness" or financial "savvy" has made them stacks of cash. All they've seen is the inexorable rise in property prices and the newspaper supplements publishing feelgood proclamations that it'll never end along with the adverts for stripped floorboard suppiers, Smallbone fittings, stainless steel Smeg refrigderators and Gardenia vinyl matt. That and ONLY that is the reason for the vitriol. It's pure a
  11. Well not everyone here was in school around that time. Prices were at their lowest ebb around '94/'95. Only 10 years ago. I bought mine in '97 not for profit but just cos I needed a place to live and couldn't be arsed to rent. It ain't my fault the value quadrupled. The new generation of homebuyers have far more sophisticated lenders and schemes at their behest now. A lot of graduates are earning a shedload of money just a couple of years outta uni so why the bitching ? If you've gone to uni to do a home economics degree and are earning 20K now at M&S, you've only got yourself to blame. If
  12. I think there is a lot of premature celebration going on here. Don't get me wrong . . . it's a good idea to put the IR up but all the vitriol aimed at people who've gone out and bought a place - for whatever reason - is a bit puerile. Sounds like sheer jealousy when people blame recent buyers for keeping prices high and, thus, out of reach. They begged stole or borrowed to get on the ladder and although that may have been foolish, it's stillnot nice to think of them being repossessed or going into negative equity. The only reason anyone would express glee at that is because they were frustrate
  13. I think a few of you are racist c**ts who need a seriously good kicking to wake you up. I live in Ladbroke Grove and am of Afro-Caribbean descent. I work hard and I don't mug my neighbours or gang rape the white girl next with my black "homies". FACT : Most of the muggings and grief around this area are caused by the WHITE kids. They'e the ones who steal the scooters and run them around under the Westway FACT : There are more white women in this area taking black c*ck than there are grains of sand on Salinas beach. Believe me . . . they ain't being forced - It's their choice and there ar
  14. That should be suitably wiped off by now, I'd imagine . . .
  15. And within a year you'd be fighting a full-scale war on four fronts. Iran and Syria are NOT Hizbollah and Lebanon. They don't just have a few katyusha rockets . . . they both have fully equipped air forces with modern armaments and a helluva lot more troops and combined resources than you do. Oh sure . . . you'd have air superiority but not without condsiderable losses and , eventually, they WOULD over run you. Big talk is all very well but if it means you're wiped out in the end, what's the point.
  16. I bought an ex council split level 3 bed flat in North Kensington in '97 for £60K. Being curious about the current value, I got an estate agent in to gimme a valuation. £280K he said. "Happy Days", I thought. He did say, however, that as soon as interest rates go up, there'd be a lot more good quality (ie Period conversion) property on the market thanks to all the over leveraged BTL stock this area has in spades and that property like mine would fall further and faster than these more desirable flats. I'm thinking that he's right in a way. I can't see the flat ever breaking £300K (not this ti
  17. No. You're wrong. No landlord worthhis salt is going to come back into the BTL market once there are a shed load of properties dumped on estate agents' books. Why on earth would you come back in to buy an asset that is essentially going to fall in value. Among most people there is a sheep mentality which has, as we all know, seen young couples willing to forfeit their first born to get on the property ladder. 6X salaries everywhere. Thing is, it works BOTH ways. As soon as rates go up, people will wait to see just how far prices will come down. It won't just be BTL properties onthe market - th
  18. I reckon rates'll rise by at least .25% this summer with another .25% if not by the end of the year then certainly in the 1st quarter of next. British Gas and its competitors have hiked their charges by an average of 22% and with petrol prices, the Fed and the ECB sticking their oars in, not to mention all the potential fallout fron Tehran about their nuclear aspirations agitating oil markets, I wouldn't be surprised if rates hit 6.5 or 7 by this time next year. Just had my ex-local authority 3 bed maisonette in Ladbroke Grove valued at £280K and I'm take the dosh an' run.
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