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House Price Crash Forum

Back Seat Crasher

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About Back Seat Crasher

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  1. Oh dear you haven't managed to spend the full £10k, bang you're dead. I'd like to add the 6R4 is a classic and no spotty oiks would even know what one is! As for the mazzer the model changed when the lights went, it wasn't the 3200 the newer ones were known as 4200, so just in case anyone is wanting one any 3200 will do and like most things the later the better.
  2. no he means you are all crazy with way too much time on your hands, ATMs eating cards being a signal, next you'll be saying 'I was at the pumps and I noticed one of them was closed do you think we've run out of oil?'
  3. Firstly lets look at some of this tripe. £250m divided by 900 houses £278,000 per house. I live in Ashford if the property portfolio is mainly 2/3 bed house they have grossly over estimated. I reckon if they could sell these at one every 3 months or so as not to cause a supply side problem they could probably get £180k for a semi and £210k for a detached and I'm talking 3 beds not 2. If the stated figure of £160m is actual debt (and not a guess) they are over, well and truly over. I like the use of typical LTV, so this is NOT average then. Knowing how quickly they ramped up it is just not possible to average 65% LTV on a portfolio this size in the time frame they had. On previous statements made by this berk couple I took it they had an LTV of around 10-15%, I may have been wrong but looking at his 'valuation' I know who is more wrong. He is screwed, she is screwed and my town is screwed, wtf is going to happen here. This is quite scary house prices here and in surrounding areas could be ruined. As I understand it he has swathes of new builds dotted with older two bed terraces, I have always said the new build around here will not be a place you'll want to live in 20 years - looks like I was wrong again, I give it 2 - 3 years, and my house backs onto one of these estates, well at least it's bought and paid for and I have a nice sunny garden! Oh by the way just to clear his debt he needs £180k per house, having announced he is selling up he won't get it, it's not a case of might or might not he WILL NOT cover his debt.
  4. I's not just the internet but a combination of the media in all it's forms, Although it was heavily reported before the coverage this time will be greater. the media coverage of the "BOOM" was very wide and has turn our nation of shopkeepers into a nation of property developers. The "BUST" in housing will be equally well covered. People have numerous ways of recieve News now with the Internet and I believe because of the Internet people are more informed than in 92. In fact I remember buying in 93 - I had no idea we had been through a housing slump and were still in it. I had an insurance pay out and wanted to buy my first house rather than spunk it on a Ferrari. Had I had access to something like the internet I would have put off the purchase. I take from this very small sample (ie me) that this time it has the propensity to be faster and deeper than before. And believe me it pains me to admit this I have just sold at £210k and bought at £340k. Had I been able to wait I am sure I could have sold at £150k and bought for £225k.
  5. I'm with you on this one, Iwish they all got fried, now I'm gonna have to cough up. The Banks will get their pound of flesh, especially now.
  6. the first figure i saw for the dow was -449, so it's up now
  7. Nice and relevant to HPC, by the way I used to get ill with much more regularity when i was younger, fitter and working behind a bar. I am now older, lazy but no longer do i suffer the problems associated with being around a lot of smokers. I do however agree with Diesel's, the sooner we get them of the roads the better
  8. if you are a lazy so and so you can just sign up to the podcast http://www.bbc.co.uk/worldservice/programm...mentary_1.shtml
  9. and if they do agree to changes to Basel II how quickly can the changes come in. Surely something like this can't just be rolled in like an emergancy, surely something like this (it is global isn't it?) is going to take months and months??
  10. can't say anything about the retail side of things but we are just courting a chain of estate agents and they are on the floor. In their words "it's dead, in 15 years I have never seen it this dead" Now this is a small chain with around 10 units across the SE. I have also spoken to a number of EA because I am buying everybody is worried, some don't say and are defensive but having had one of them ask me for a job I think we are going to see lots of empty EA's very soon.
  11. I hope you are wrong. I can only hope that the positive changes you mention help us all get through this. I do think that the Magic Money Token this time is so important that something other than your prediction will come to pass. I just can't see 90% drop. The average mortgage is in 6 figures and the ave house price will be £40k.
  12. Pants but if you like go to the NS&I site http://www.nsandi.com and try your luck. I look at it this way if you take the prize fund and divide into the total "invested" it pays out some 3.5%, take the big wins out and it's even less. If your lucky you may win big but if you are just average it won't even beat inflation
  13. I don't get it, this won't help the people coming out of fixes with low LTV's who will have to stay on the SVR. These people who I'm lead to believe are many will be screwed with or with out this. Inflation is over target and looks to be increasing. So what do they gain from this, ound down with the effect of importing more inflation and housing still screwed. Where do I put my money?
  14. er 36 years old, slightly above ave earner, self employed Bear, bear, bear, beer, bear did anybody spot the mistake I own my £209k house outright and it's sold - yipee, sadly I am buying a £340k house with the proceeds booo. I have two kids with a third on the way - hence the move. It kills me everytime i think "STR, STR, STR" because I can't put my family at any risk, not that they'll be without a roof but moving every 6 months with 3 kids for 2-4 years is not my idea of fun. I did BTL in 2003, sold in 2005 just before the rate cut and made a fair bit, it helped me kill the mortgage. I think the housing market is gonna come crashing down around our ears, people crying in the street, some new housing estates empty and everybody wondering where was all this demand. But hey I might be wrong and houses will go up and be 20x Ave earnings!
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