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Everything posted by rayman740

  1. There will never be a mass exodus, there's simply too much money to be had in btl's. Maybe not for any newbies but for those in the game for 5 years plus why sell when your net yields are 3-4-5-6%. Average prices are still increasing, banks offer 0.5%.... Errrr yeah let's sell!!! Duh. The wishful thinking you and others show is quite laughable.
  2. Rant.... Your interest payments cover most of your rent? Mmmmmm. A cool 500,000 in the bank I presume?
  3. Meerkat: Agree my friend; any financial decision even signing up to a yearly ST let, or buying a car on the 'never ever' has to be thought out and budgeted correctly.
  4. Some on this site believe that throwing insults and derogatory remarks is a form of intelligence....mmmmm, how wrong. I've no idea what's around the corner and neither do you honest chaps, but house prices have held steady enough in real terms or otherwise and remember that choosing to rent since 2006, one would be let's say a comfortable 60k down on a 3 bedder, and STILL stuck in the same predicament.
  5. Gosh I have a stalker.....gulp. What brought me back to you gents? Bored on holiday but with acute toothache. Boohoo. We did buy in Tavistock area without a loan probably the evening before the 2007 'crash', and no idea if the house has gone up or down in value but it's lovely here without any intent to sell. Sick of the 'volatility' word, much over used and over hyped by those with the most to gain
  6. Mike, there's not enough building activity to produce a true HPC such as we have seen in Spain. The UK continuing house asset climb is based on availability and unless rates are to raise to 6-7% there remains absolutely no downward pressure on housing assets.
  7. The point is there will not be a true HPC, and those hanging on indefinitely are making a mistake. Young people should of course buy and if both are working which is the norm in the past generation the multiplier is still around 4x. Laws of the universe...mmmmm
  8. Gents, I've been a silent reader of this blog since 2005ish and despite all economic tales of woe and uncertainty, odes to expected housing collapses and various story's of rogue chancellors reaping havoc, house prices have remained steadily climbing up. Granted some of the stupid froth has been blown away which will always be the case but regardless anyone who brought in 2005 would have been quids in compared to the lost rented market world, unless one stayed with Mum in the spare room for the past decade. The maths is undeniable ...
  9. I've now saved enough to buy a house (not my main residence, nice area) without a mortgage that has already been split into two substantial apartments. I'm getting 0.5% at the bank with my savings but the expected net yield is 4.2% after all costs including taxes are taken into account. However with the expected raise in interest rates should I go ahead? Thx
  10. Money laundering criminals if the Daily Rags are to be believed.....)
  11. Back in Feb 07 we put in an offer of 375k for a house down in cornwall, that had been on the market for 399k for almost a year with several different EA's. The EA was overjoyed and literally begged the vendor to sell. Unbeknown to us all. the vendor had already had an offer for 384k but the buyer could not complete due to 'chain' problems and asked me to match it. I refused and held out my original figure and no sale resulted. I was amused to read on UP MY STREET, 'Actual hosue prices in your area', that it was sold in May for 370,540. Strange but true!
  12. I actually live in this village and since 1999, the property asking price has increased approx 100%. (A house was marketed at 100k in 1999 and I saw it again at 198k, a few months back - still unsold Thus a 5% reduction is neither here or there is it. Reality check please!!! For a true crash, that house in question should drop and sell at aroudn 150k taking into account inflation. Still some way to go gentlemen. http://www.propertysnake.co.uk/site/postcode/pl18
  13. Yes, downsizing seems to be in vogue at the moment. 4 out of the 4 houses I have viewed have that as a reason for selling. Some have indeed brought or put in a firm offer on a second property already. I enjoy house hunting but i do hope i do not find something that really tempts me and the wife or we will have to do some serious gambling, hhehee. (Just to let u know, i am an expat and my wife and very young kids live at my mum's 4 bed country house, no pressure to leave as a ready made and trusted baby sitter is a handy thing).
  14. I have some sympathy for HPC regular. EAgents are extremely good at applying pressure. At the end of the day YOU must be happy living in that place and be able to pay regardless of future valuations. As a side note we saw a house last week, and we didn't really feel an offer was justified. In the same afternoon the EA rang up and said that an offer had been received from another couple. Bull i thought, but a few days later we literally bumped into the couple whilst viewing the house they had to sell!!!
  15. hi, We are looking for houses in the Tavistock area of Devon and here are lots and lots of housing not being sold, particularly those above 350,000. Lots of price reductions and hints of 'they will accept offers' from the EAgents. But, and it is a huge but, asking and sold prices have risen so much in the last 3 years they need to reduce by 40% to get back to anywhere close to sensible prices, (in other words a 10% reduction is not a lot in relation to the 200% rises over the last years). Unless interest rates go up the many sellers do not feel the financial pressure to sell, and are happy to 'wait and see'. Estate agent offices are fairly empty, viewings are easy to arrange but whether prices come down remain to be seen Ray
  16. I've just come back from a trip to Hong Kong. The newspaper editors were harping on about possible interest rate increases following those of Japan and china. I arrive back to hear of the USA, Pakistan and India rate raises. The European bank (according to The Times) are due for an increase this week. To imagine in this global market we are going to buck the trend and cut rates is simply.....imaginary. I can see 5% by Christmas with more raises after up to 5.5 to 6% by summer next.
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