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House Price Crash Forum


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Posts posted by Prof

  1. If it rains it destroys the signal too even in good areas.

    That's news to me, and I fit aerials for a living.

    Maybe if you've got a defective aerial (water getting into the dipole connection box), then yes, rain will destroy the signal. If you are in a good signal aerial with a decent aerial, no problem.

    And for those who have poor reception (assuming your area transmitter hasn't "switched over" yet), there's a good chance you'll get good reception once the switchover takes place. I still think there will be problems, even when all transmitters have "switched". It's as much a problem with the reception equipment as with the transmitter/aerial systems. Tried to tune in a Technika TV yesterday. It found most of the Freeview channels, and displayed them perfectly. Switched the TV off, and it lost the channels. Read the manual (sometimes you have to !), and it states that the TV requires a signal strength of > 85%, or it won't store the channels. I was getting a strength of around 65%. I measured the signal with my trusty meter, and my meter said "this signal is fine". The customer had already taken the TV back due to this problem., Absolutely rubbish design.

  2. iPlayer: http://www.bbc.co.uk/iplayer/episode/b00v69dj/BBC_News_at_Six_07_10_2010/

    08:04 onwards...

    # Broadcast on BBC One, 6:00pm Thu, 7 Oct 2010

    # Available until 6:29pm Fri, 8 Oct 2010


    It`s only bad "up North", and prices are still a tad higher than they were a year ago.

    Why did they send a reporter to a street in Sheffield, and hire a bunch of "extras" to "perform" in the background ? Could it be that they are implying that the 3.6% falls are only in areas such as this ?

  3. Nationwide, let me see.......

    Yes, another organisation that don`t seem to be able to do what they are supposed to do.

    Someone I know recently got a credit card through NW. Already got a Flex account with them. First CC bill arrives, I told them to take the bill into the branch and pay the balance by cheque or transfer (this person doesn`t do internet banking). I told them to ask if the balance could be paid off monthly automatically. The cashier said "no problem, do you want to payy off the minimum or full balance each month ?" Answer was "full balance please". No problem, said the lady, pass me your cards and i`ll sort it.

    A month goes by, statement arrives, and is ignored, because the direct debit is set up. Another month goes by, and I get a phone call..... "just got the September CC statement, and there`s a £12 charge on it". I looked at it, and it`s for non-payment of the previous balance. 15 minutes waiting on the phone for some help from NW.... "how can I help you ?". My reply was "answer the phone a bit more quickly". Evenually the matter was sorted, but it`s another example of shoddy service.

  4. Has anyone noticed that the actual approval value has fallen from £148500 (july 2010) to £143500 (aug 2010) so that is a house price DROP of 3.37%

    I'd say a drop of 3.37% in a month is a flippin' CRASH. You don't need too many of those months to correct the market!!

    Nah, the approval values of the few properties sold might have fallen 3.37%, all other UK property must be worth at least 1% morth than the previous month. Because we`re worth it.

  5. I think you'll find that roughly 98.7% of people on this site agree with those thoughts exactly.

    I`m one of the 98.7%.

    I sat back and watched as the debt junkies binged on easy credit. I predicted and waited for their day of reckoning. It seems that the day of reckoning has come for the prudent, while the debt junkies have escaped with a minor scratch.

    What kind of message is this sending out to the next generation ?

    "Mummy and Daddy took on a huge mortgage, three credit cards and a 4 x 4, and it didn`t do them any harm.........."

    Maybe this will change, but I`m getting tired of waiting.

  6. When I mention "Liar Loans" (Eric said I could use the term, as long as I didn`t used a large, bold font) to the Bulls, they tell me that it`s not a widespread problem.

    However, we keep getting a news drip-feed of mortgage brokers being "found out". And as I always reply to the bulls, fraud, by it`s nature, often remains undiscovered. I wonder how many other cases will be reported over the next year or two ?

  7. They'll get there, they like to leave reporting of "dips" as long as possible so that the masses can leave for work with smiles on their faces.

    Changing the subject slightly, I wonder if the 0.9% will get revised down next month.

    When you say down, do you mean even more negative ?

    They shouldn`t use the word "dip", I think "easing" sounds much more pleasant.

  8. Im missing Fionaullalllallaa Early.

    I hope you never find her.

    I`m sure she must be closely related to "perma-grin" Hazel Blears.

    House prices went up x% again in the month of x (grin), great news for homeowners (grin).

    The best thing for for me about then end of the property boom was not having to see "LaLa" every month on BBC Breakfast news.

  9. What is it going to take to change people's perceptions? The best part of a decade's media coverage and EA hype have implanted the view that ever increasing house prices are a good thing and prices will only go up. Convincing people that their house is worth less than a couple of years ago seems impossible.

    I know a lot of intelligent folk who have jumped into the BTL market with no concept of how much the interest on a mortgage really is, the costs of maintenance etc. People really do seem to be thinking very short-term about the 25 year loan they've taken out. There's complete denial out there about potential interest rate rises.

    Sentiment for squeezed out FTBs is minimal, because everyone is focused on getting the highest price for their property. There are a few parents out there who are looking at their kids' position and starting to think that prices are too high, but that's it.

    My concern is that if prices do start to fall quickly, as 18 months ago, sellers will quickly retreat again resulting in a lack of supply pushing up prices. Time will tell.

    Good summary.

  10. When asked whether he was responsible for young people not being able to buy their own home he replied that he had worked very hard for 2 years to earn enough to 'get started' and that priced out renters should 'stop belly-aching and work a bit harder'!

    "If they work hard for 2 years, they`ll be able to save up enough to put a deposit down on one of my places. It`s plain sailing after that, as me and the Mrs have proved. Property doubles in value every seven years, it`s just a case of getting a foot on the ladder".

    "Property for sale, lots of lovely property for sale ! Stop me and buy one !".

  11. So what should the average house price be today???

    Please consider:

    The different types of mortgage products now available

    Record low IRs - Both effect on borrowers and savers

    The major rise in 2 income families

    The drop in new home construction

    Lack of available land

    Restrictions on building

    The cost of new home construction - Insulation , raw material costs , new regs

    Location of the best properties - supply & demand

    The boom in the private rental market

    The sell off of council housing stock

    The fear of future inflation - NS&I pulling their inflation linked products

    Money still left from a decade of boom

    A small percentage of very high paid individuals - Footballers , bankers , top public sector workers

    Influx of eastern Europeans

    Overseas millionaires buying up property in London - Ripple affect

    The price crash of electrical items - TVs , DVD players , Microwaves

    Inflation adjusted the average price today should be around £115k - £120k or 30% - 35% less than today's prices, but considering the above and perhaps a few others what are peoples feelings of what today's average should be.

    For me it would be around 15 - 20% off todays prices - £135k average and staying there about for the next 5 years or at least until things in the economy are a little clearer

    Given the factors listed above (and perhaps a few others), Id say that today`s average house price should be exactly what it is.

    If some of the factors that have been "used" to increase house prices (building restrictions, low IRs etc) were excluded, then I would think prices would be 30 - 35% less.

    I think average house prices should be 3-4 x average income, with cheaper places affordable by those on low incomes, and the most expensive places affordable by those who have worked hard and earned their money through enterprise and adding to the UK economy (not, for example by those who have speculated on house prices). That`s my dream, but it seems like that`s all it will be.

  12. True, if you feed in the regular monthly saving from another interest bearing account it increases the interest rate obtained from the initial deposit.

    So maximum regular saving £250 per month. Deposit £3000 in an interest bearing account and make a regular withdrawal to pay into a regular saver.

    Month 1 Deposit a/c £2750 @ 2% say, Regular Saver £250 @ 4%

    Month 2 Deposit a/c £2500 @ 2% Regular Saver £500 @4%

    Month 3 Deposit a/c £2250 @2% Regular Saver £750 @4%

    and so on. Better than leaving it all in the normal deposit account all year surely.

    That`s the way to do it !

    I still get told that regular savings accounts are a waste of time, but for some reason I still use them. What a fool I am.

  13. At times like these, I miss Sibley :(


    I can assure you that you`d soon get tired of him.

    I`ve just spent a day or two over at MSE, catching up with Sibley, Hamish & co.

    I can report that nothing has changed, apart from Hamish is claiming some sort of victory and Sibley just comes out with utter nonsense. I soon got bored of them.

  14. :rolleyes::rolleyes::rolleyes:

    Not sure you get it mate - the whole point about the LIAR LOAN scam machine is that it MASSIVELY drove up the price of the roof over the heads of millions and millions - they may not be defaulting by the millions [yet] - but countless millions are shelling out their hard-earned income FAR more than they would otherwise have - had the banksters not come up with their massive pyramid LIAR LOANS scam....

    SO - how has this happened?

    Person A takes out a LIAR LOAN urged upon him/her by lying, cheating, fraudster scumbag "mortgage broker" [see below] - and Person A thus "buys" house/property in street/hamlet/village/town A;

    Person B comes along - and - to buy in same street/hamlet/village/town A - he EITHER has to take out a LIAR LOAN - or pay FAR bigger multiples on his "ordinary" mortgage - [which effectively becomes another LIAR LOAN as a result]. He has NO OPTION but to MATCH the "price" set by local comparison valuation/pricing by scamming local EA's....

    End Result: This process is REPLICATED ad infinitum across all the streets/hamlets/villages/towns across the ENTIRE UK [and further] - and thus - everyone forced to pay FAR more for roof over their head.

    And GUESS who the winners are in this massive pyramid price-pumping scam??

    The Moneylenders/Banksters and their VI Pwoperdee Developer friends........


    I thought that "you can`t go wrong with bricks and mortar, prices always rise due to supply and demand". Lot`s of people told me this over the past few years, and all those property programmes on the telly were showing people making £££ out of property. I even used to see the lovely Fionnulalalalala Earley from Nationwide, grinning at me on Breakfast News every month, as she told us that house prices had risen yet again, and all is well with the world. I don`t know why we don`t see her, or anyone else from Nationwide on the TV any more.

  15. When the cost of a litre of petrol/diesel is less than last month, it has "fallen in price".

    When I spend more than I earn, my bank balnce "falls".

    When there is no rain for several months, a reservoir level "falls", or becomes "lower".

    When I lose the grip on something I`m carrying, it will "fall" or "drop".

    Would it sound right if I said that the level of the reservoir has "eased" ?

    Does my bank balance "ease" when I take out more money than I put in ?

    Do I say "oh dear, I let go of that glass of (insert name of prefered beverage), and it eased itself to the floor ?


    There must be a special arrangement for property prices in the UK, they don`t fall, drop, or even lower, they eeeeeeeeeeeeease ! Ah, that sounds so pleasant.

    If the Beeb`s idea was to "mask" the issue, it nearly worked on me this morning. Popped the Teletext on, expecting the news from Nationwide. When I read the headline that HPI had "eased" in July, I thought for a second that prices had actually increased.

    Right, I`m going for a walk now to calm down. I hope I don`t trip over and ease to the floor.

  16. My mortgage is as good as paid off.

    From the day I took it on, I wanted to not pay it, so I offset and made overpayments. I always thought that it wouldn`t be a good idea to be paying a large(ish) sum each month, year after year. The plan was that if ever I was short of work, it would be one less bill to pay. Now the monthly payments are laughably small (I could pay it off, but I choose to keep it going, as I have a "top up" facility) and my income is laughably small. I know that I`d be in trouble if I had taken on a large mortgage, and I do wonder how some people manage.

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