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House Price Crash Forum

Gone baby gone

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Everything posted by Gone baby gone

  1. How will the wonderful benefits of ID cards protect us from acts perpetrated by visitors from overseas...? Are you telling me that the police in London will be able to pay special attention to every ID card-less foreign national that is on the streets at any given time? One massive flaw in the proposed ID card system that makes it open to fraud is the authentication of the photos in the first place. Exactly who is going to verify that you, Joe Bloggs are indeed Joe Bloggs? Same way as they do it for passports now? And of course nobody ever fraudulently got a UK passport with the wrong name on did they...
  2. I bloody well hope you bought them both in a sale...
  3. Won't be long before some crafy marketing types start to use "Buy British" again, except this time it will refer to services and not goods.
  4. As you rightly point out, the UK economic situation is somewhat less attractive now than in 2000. IMHO the biggest reason why I would not be buying a property like this now is that salaries have barely increased since 2000. House prices are way out of line with take home pay, In 2001 I bought a flat in London (recently sold I am pleased to add!) and at that point I thought that prices were unlikely to go up much, purely from an affordability point of view. I was of course assuming that most people would (like me) want a reasonable safety margin (i.e. 10-15% deposit, max 25yr mortgage at 3.5 times earnings, able to pay the mortgage and live on a single salary, etc). However, it seems most people are happy to throw caution to the wind and take out a huge loan, with almost no 'margin for error' in case on redundancy or a change in personal circumstances... it takes true bravery to trust our current crop of politicians with ensuring sub 4% interest rates over the next 20-25yrs! Sorry to go so far off topic, getting back on topic... in late 1999 early 2000 I laughed out loud when I saw the price of a 2-bed flat the Quayside in Newcastle, which was around £130k at the time... overpriced then, Waaaaaaay overpriced now. I grew up in Newcastle and left when I was 21 to find work. There is still very little well paid work around there now, so why the ludicrous house prices? The answer: Sheep following the herd.
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