PropertyGuru
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Posts posted by PropertyGuru
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Quick, someone. blah-blah-de-blah blah blah missed the point blah blah no sense of humor blah blah blah
you need to find yourself a girlfriend, tithead. try the local blind school.
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Seems kind of appropriate for you PAYE wageslaves.
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Is it not time for a Wilsons update?
last I heard, there was a rumour Fergus had lost his spot as 'Chief Wizard' of the local Ashford Coven, because his wife is so ugly, she was scaring the demons away.
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The old man ran a burger bar at the side of the road. He saved enough to send his son to College.
His son came back in the summer holidays.
"Dad ! They told me at College there would be a "Double Dip" !"
"Gee, son. Business has been good and I was about to order more buns and more beef. What do you think I should do ?"
"Well, they say it will be terrible. No-one will be able to buy anything due to the Osterity Mergers."
"That sounds bad, son. Maybe I'll cancel my orders."
"Yes, Dad. And they say there be Fizzcal Cutbacks."
"Wow ! Fizzcal Cutbacks. That sounds awful. I think I'll only open on Tuesdays and Fridays instead of all week."
So, Dad cut back his orders and only opened two days a week.
And, what do you know ?
His cashflow fell to the point where he went out of business.
Moral: When the going gets tough...... the tough still need to eat their burgers.
what is the point of this stinking pile of weaselshite? You trying to carve yourself a new career as a kids writer? Don't ******ing bother.
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great post.
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OK, here's how it works.
There are only 2 ways to get resources to do something now that you actually can't afford to.
1) consume saved resources from the past
2) Use a pledge of future resource production as a basis for providing credit, i.e. bring back production from the future for consumption now, aka run a tab.
If you lose either of those options, what do you think happens?
They've deliberately disincentivized saving, so only (2) is now an option.
As people have a finite lifespan, there's a limit to this option.
So make a wild guess what will happen over the next 18 months.
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"I never really liked him, actually. I was just pretending to be his friend because I thought the rest of you liked him".
RIP, Gordon "Shit" Brown
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It is also part of the propoganda. Everyone who owns a property is special. It doens't matter whether it is a broom cupboard or a mansion.
Adding on a surplufuous "area" to many rooms also gets my goat.
When and why did a "kitchen" become a "kitchen area" or a "dining room" a "dining area"? My guess is that it is part of the same propoganda to make everyone special. AS long as you own your own property, it doesn't matter whether you eats in a large room full of furniture or a small nook with barely enough room for a bistro set, you eat in the "dining area" in your property and are therefore special.
this has been going on for a long time. I remember hanging out with some sloan chick back in the early 90's. Good looking broad, but dumb as a bag of rocks. She told me one day she had inherited 70k and was 'going to see some properties'. As even then it would only get you a small one bed or studio in London, I realised it was time to move on.
Last I heard, she blew the lot. But not on pwoperdy. She checked herself into some exclusive rehab clininc in Maida Vale where they 'treated' her for her 'depression' until the 70k was used up, at which point they declared her fit, and bumped her into the street.
ah... some things never change...
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The Italian job was on. The classic one.
Where else do you get Ferraris, Minis, The Alps, 60s cool, Benny Hill, Irene Handl, Noel Coward, and Michael Caine wrapped up into a great comic romp.
"Mr Bridger will DRIVE THEM INTO THE SEA."
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if you can't afford it, don't buy it
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I think also that we need a rule that says that anyone immigrating to the UK, must have funds to allow them to buy their own property and for them to be able to look after themselves, such that they can never have access to public funds. If they cant prove that, then tough, go somewhere else.
kind of like NZ, or Canada, for example.
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printy printy £4500 per head of population, including pets, zero percent interest rates = no need to sell.
Also, what the hell else are you going to 'invest' in? stocks? HA! Savings accounts??? HAHAHA
Gold??? All time high, commodities???
Thanks, Gordo.
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I should have tightened up my language a bit.
People who buy second homes, holiday homes etc might not be motivated by speculation but they are exposed to the same consequences as those who speculate. House prices can go up or down.
I agree that there are victims of speculation. The victims are not the speculators of course : they only bear some of the costs of speculation that they entered into willingly and get all of the rewards.
I agree that the 3.5 times rule is an oversimplification and is a proxy for sustainable mortgage servicing.
A slightly better rule might be that mortgage granting criteria should include a maximum mortgage amount determined by the payment on a repayment mortgage with an amortisation period of the smaller of 30 and (65 - age) priced at a very long run average interest rate being no more than 30% of gross monthly household income with total debt servicing (including the mortgage, credit card balances, car loans etc etc) being no more than 40% of gross monthly household income.
For a 35 year old and a long run average interest rate of 8.0%, this means a mortgage of 3.38 times earnings. A realistic house price would be the deposit (25% minimum) plus 3.38 times earnings as long as they don't have much other debt.
If my arithmetic is right, someone with a 25% deposit who is 35 or younger can realistically afford a house that costs 4.5x earnings as long as they don't have much other household debt. The existence of quite a bit of non-mortgage debt would probably push the 4.5x multiple lower.
you were right the first time, and Twatmangle is as his name suggests, a twit with a mangled sense of reality.
No one NEEDS a holiday home, and they are therefore a speculative purchase if bought with borrowed money.
you buy ANYTHING that you don't NEED with BORROWED money, you're SPECULATING.
twatmangle by name.
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You're forgetting our thousands of entrepreneurs! They will keep the country afloat, I'm sure...
we've all left for more tax-friendly locations.
obviously.
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BORROW YOUR WAY OUT OF DEBT
obvious, innit.
wot a ******ing clueless moron.
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the opening shot was baldielocks and Miss Piggy walking towards teh camera, and Sloppy Krisytal says "... a couple of nervous first time buyers.."
what a fat porcine twit.
I mean, seriously.
She's EVERYTHING that's wrong with the 'upper' class.
they're lardy filth, basically, who still think they can shoot peasants on a sunday.
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How are we all feeling about things this morning?
rich and hungover.
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80% of Scepticus's posts are complete bolIox.
The other 20% are pathetic attempts to make himself look like some kind of intellectual.
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nothing short of a total disater for me. i signed up in late 2007 & needed it to crash by end of 2010. i dont think it now will. i have to buy by xmas or start taking some real gambles. reaponsibilities prohibit the latter, so now, i buy. and watch my equity erode slowly and painfully over the next 10 years. v v v pi55ed off.
why do you 'have to buy by xmas'? Won';t santa bring you any pressies if you don't 'own' a home? Or will your knob drop off or something??
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Only you lot could see an increase in prices as a sign of hpc. Have you factored this months rent wasted into the equation?
they probably have. Just like they factored in that 'wasted' money they 'wasted' on food (after all it comes out in 24 hours as s hit, so god, what a complete waste), and that 'wasted money' on 'taxes'.
And btw, shit4brains, it's not an increase in HPC, it's an increase in asking prices
jeezuz. You make scepticus look intelligent.
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early bequests to offspring is to a significant extent equivalent to de-leveraging the ponzi because the boomers transferring this wealth to their kids are not likely to ever see it back.
Therefore it is similar in essence , when the whole macro picture is considered, a bit like a default which is eactly how ponzis are de-levered.
In this case the defaulters are then genX/genY FTB-ers, and the creditors that take a haircut on their 'investment' are the Bank of Mum and Dad.
you're one of these wierdo losers who, having been caught out, rather than holding his hands up and saying 'its a fair cop', tries to argue till he's blue i the face on a position that is laughably wrong.
YOU SAID parents extracting money from their property to give to their kids to buy property 'deleverages' the property ponzi. It doesn't. Obviously.
******wit.
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it all makes perfect sense to me, and yes this does act to de-ponzify matters to some extent.
as usual, scepticus misses the point entirely.
you can't deleverage a ponzi by extracting money from it... and then putting it back into the ponzi
jeez. numbnuts pretending to be intellectuals.
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I'll tear him so many new ones he'll have an ärse like a colander.
he already has an ärse like a colander, according to the bikers down at 'the Pink Flamingo'. I read it in a phone box on the Kings Road.
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There is plenty of money to go around and pay for decent public services
grow up. Ever tried to get served at a 'free bar'?
Why House Sellers Are Deluded
in House prices and the economy
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I've actually been to see these houses. He's had them on for YEARS, and is a seriously deluded seller. The living rooms aren't wide enough to swing a cat in. Unless it was some kind of manx cat.
He also owns (mortgaged?) a house round the corner (station rd, the garden of which was cannibalised to make this development). He's had THAT on for years too, and has actually UPPED the price to 350k. Even the estate agent told us he was 'crazy', and that 'the bank were pressuring him'. Not much pressure if 2 years on he is still somehow afloat.
When we talked to him, he started trying to sell us the crappy ruin on station rd, offering to do it up for us at a 'good price'. Living in a fantasy world...
They're worth 200k tops. In fact, when he gets repo'd (which he will, cos he doesn't understand the concept of 'stop loss') the bank will probably sell you TWO for 300k.
The high st is reasonable (if you like chips), but the entire area is surrounded by the 'Blue Hall' council estate which is a no-go area for armed police after dark. Check the crime stats for ts20.