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House Price Crash Forum

luddite

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About luddite

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    HPC Poster
  1. Yes, but Nokia did have a strategy. They had been doing linux based tablet computers such as the N810 for many years and it was mature enough to go onto a smartphone (the n900) which kicked ass when it came out in 2009. Their mistake was to not to develop more phones on this version of the linux OS, called Maemo, whilst instead they tried to get into bed with Intel to create something called Meego. They lost at least a year. When Elop came on board the damage was already done. He chose to ditch Maemo, Meego and Symbian in favour of a very un-loved Windows OS. His worry was that Nokia could not
  2. Hey, I gotta n900 too. Love the full Linux OS but not everybody knows what to do with it in the way that i do, nor should they need to. Nokias mistake was to get into bed with intel to turn the n900 OS known as Maemo into something called Meego.this kept them out of the smartphone Market for a year. In a similar way, Microsoft were selling quite a few phones based on variants of their horrible windows ce OS but they also took a long break before coming back with windows phone 7. By that time they both found that apple and android had eaten their lunch. To make matters worse, nokia apointed
  3. Figures not looking good in knickers from La Senza. Maybe a buyer will step in and pull them up?
  4. http://www.theopaphitis.com/theo-boux.html I think you will find that Theo changes his underwear (chain) as soon as there are any financial skid marks. Clever bloke.
  5. Owners of top floor flats are less likely to have window locks as they do not anticipate being targeted. Once inside the thieves will carry your flat screen telly down the main stairs and out. Watch out if having building or roof work done when ladders and scaffolding may be about.
  6. A small apartment over 2 floors just won't work as you will lose too much living space to the staircases. If you have around 1500 sq feet then ok, go for the duplex.
  7. here re the four statutory objectives of the FSA market confidence – maintaining confidence in the UK financial system; financial stability - contributing to the protection and enhancement of stability of the UK financial system consumer protection - securing the appropriate degree of protection for consumers; and the reduction of financial crime - reducing the extent to which it is possible for a regulated business to be used for a purpose connected with financial crime. What did we get? Fuelling HPI by allowing lending ridiculous and unsustainable multiples of income A bubble which b
  8. Agreed, you should DYOR rather than absorb bite-size government funded propaganda. However, the price of property is not a problem to a cash investor who can turn a yield of 5% or more out of a pile of bricks and mortar. Back in Dickensian Britain there was an entire class of wealthy landlords, and thus seems to be the case also across much of Europe today. This is the point that you seem to be missing, and why an outright crash in the UK is currently unlikely. This is in spite of having some top BBC tottie explaining it to you. Wait until IRs hit their longterm average again, then you might
  9. A freehold can be held by a private individual or a company . You seem to assume that for a block of flats there must be a company involved and that it simply not true. In my case, I own my flat and the freehold to the building. There is no management company, no committee, no meetngs, no monthly service charge. I make all the decisions. I am guided by minimum stabdards set out in the lease My leaseholders pay their share of any maintenance costs, ,as is defined in the leases. I am polite, so I inform tthem of the quotes before any work is done, and in turn, they inform me of anything such
  10. Major contradiction or lack of understanding alert !!! If you have a freehold flat, as I do, then you are the daddy! You make all the maintenance decisions. Period. Freehold flat owner responsibilities = freeholder responsibilities for a whole house. Freeholder flat liabilities, I.e. Who has to pay, is usually shared. The proportions will be defined in the leases. The key point of this thread is to be very weary about short leases. As the remaining period of the lease tends towards zero, so does the value of the flat. Yes, you can extend the lease but for resale purposes you can expect t
  11. Hmmm, but what is "actual value"? It would surprise me. To an investor who can get better than 5% yield on their cash by buying houses at todays prices then they could represent "actual", even good value, certainly when compared to bank interest. In my mind rental values remain a major barrier to the crash. Currently, I would say don't expect a HPC until bank interest rates are much much higher such that old money can go back to the bank vaults. Don't get me wrong, I don't think our low wage-inflation economy can sustain high rents any more than it can sustain high house prices, but I am no
  12. Cash buyers will bring life back to the Market according to John Charcol. Time for cash to reclaim it's crown whilst the young pretender of leveraged borrowing is banished? http://www.bbc.co.uk/news/business-13116262 I disagree with the comment about the Saga generation downsizing, as they must have sold the big family home in order to have their cash. No,in my opinion it is old money returning to the Market looking for bank-beating yields and distressed sellers to take advantage of.
  13. Agreed. But you can add to that the fact that when this happens, companies tighten their belts which threatens job security. Of course, if a single wage earner on £50K is made redundant then he has a big problem but the same is true if either of the two £25K earners is made redundant. Hence double the risk.
  14. Wow! any clues as to how these are going to hit he market - auction? drip-fed? or just dumped on the market through one agent?
  15. Lots of people are committing to buy, that is certainly true but until something has been paid for I think it is a bit premature to say that it is affordable. Looking at the level of unsecured personal debt and mortgage arrears even at historically low interest rates I would conclude that many, many cannot afford their homes.
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