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House Price Crash Forum


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Everything posted by PeanutButter

  1. I must say it is absolutely amazing you know the exact size of bushfires that happened in 1974. You must have spent so much time personally measuring them! It’s like science fiction coming true before your eyes. wHat evEN iz TRuE? MAybE wE aLL JuSt a DReaM But remember, kzb has already stated that man made climate change is real. About 100 pages back of time wasting “debate”.
  2. If only there was a way he could explain to NASA where they are going wrong. Would save them so much time, the poor dears. https://climate.nasa.gov
  3. Lmao that that’s your takeaway. https://www.bbc.com/news/world-us-canada-49763805.amp
  4. Revealed: BP’s ‘greenwashing’ social media ads as anger over fuel costs rose https://www.theguardian.com/business/2022/aug/06/bp-social-media-influence-ads-labour-windfall-tax The influence ads, which also emphasise BP’s contributions to UK energy security, began two days after Labour proposed a windfall tax on North Sea oil and gas in January. BP’s spending on these ads escalated in the weeks before Rishi Sunak announced an “energy profits levy” on 26 May, the investigation by Eco-Bot.Net and the Guardian found. “Backing Britain: delivering homegrown energy” read many of the ads in green script across a map of the UK.
  5. I suspect this is one of the stories that has impacted your view. It’s a decent summary. https://www.telegraph.co.uk/news/2022/01/31/justin-trudeaus-woke-agenda-tearing-canadian-society-apart/ Or maybe this one https://nypost.com/2021/03/18/man-arrested-for-discussing-childs-gender-in-court-order-violation/amp/
  6. Is Britain's buy-to-let and second homes bubble about to BURST? How rising mortgage rates, insurance and cost of repairs amid falling property prices is set to push up to 20% of landlords into selling up https://www.dailymail.co.uk/news/article-11084115/Is-Britains-buy-let-bubble-burst-Rising-mortgage-payments-push-landlords-sell.html
  7. Desalinisation is energy intensive and has a huge impact on the local environment.l (as UAE and Aus found out). https://www.wired.com/story/desalination-is-booming-but-what-about-all-that-toxic-brine/amp https://www.thenationalnews.com/uae/environment/2022/03/24/middle-east-increasingly-reliant-on-desalination-plants-as-water-shortages-loom/?outputType=amp https://blogs.unimelb.edu.au/sciencecommunication/2019/09/30/better-than-running-out-of-water-desalination-plants-in-australia/
  8. Honestly, just knowing if they're a UK taxpayer or not would assist people (I have found that non-dom landlords have little interest in repairs on the basis they seek to accrue as little expense as possible and can't offset against tax). Reviews, as we know from amazon et al, are extremely open to manipulation and abuse.
  9. Once again (god I'm a broken record) I would like to see prospective tenants have at least some overview of a landlord's financial situation before committing to a tenancy. I realise it's impossible, I do. But there is a vast difference between a UK based local landlord with under 5 properties and a non-dom or institutional landlord or highly leveraged 10+ landlord. These are all different creatures who will respond to tenants needs in a variety of ways. But tenants have no way of knowing who they're signing on with.
  10. The most influential website in the UK, top story: Mortgage timebomb for MILLIONS: Even families on fixed rates face paying thousands more when deals end after biggest interest rate rise in 27 years - and banks are accused of failing to pass on hike to savers https://www.dailymail.co.uk/news/article-11082587/Families-face-force-rate-misery-fixed-rate-deals-end-experts-warn.html
  11. This is what I mean when I say using UK averages doesn't work. London is the bubble. You pop London, you pop the rest. I know plenty, seriously, PLENTY of people in London on 80-150k*. Partners usually on same. Conservative estimate at 5x lending gives the ability to borrow 800k. I'll start paying more attention to mums net again. I think we're going to see the panic start there. * I have some oversight of company salaries.
  12. Averaging out across the UK isn't particularly helpful in assessing likelihood of downturns. London and the SE are the drivers, with price increases and decreases rippling out. It wasn't Scots driving up the second home market the past two years. I can't find any London specific data bar this from 2018: https://www.boonbrokers.co.uk/how-much-does-the-average-mortgage-cost/ But even so, we can safely assume that Londoners are taking on far higher mortgages and will be subject to more pressure as rates rise than say, people in Northumberland or Lincolnshire.
  13. https://www.mumsnet.com/talk/property/4604700-anybody-else-moving-next-year-with-a-looming-recession-and-will-you-still-go-for-it
  14. In all likelihood. If Truss' advisors discovered that grassroots members had a proclivity for nude gardening I can assure that within the hour she would be announcing her plan to remove VAT from all thornless rose bushes.
  15. Really good summary article, worth clicking to read in full. (Thanks, lurking Guardian journos). https://www.theguardian.com/business/2022/aug/04/bank-of-england-interest-rate-rise-first-time-home-buyers-credit-card-finances However, the banking body UK Finance says about 21% of households are on a variable rate – either a tracker mortgage, where the rate you pay is explicitly linked to the Bank base rate, or their lender’s standard variable rate (SVR). About 800,000 borrowers have a tracker mortgage, while approximately 1.1 million are on an SVR. Overall in the UK there are just under 9m residential mortgages outstanding, of which 75% are on a fixed rate, according to UK Finance. Two- and five-year deals are traditionally the most popular, while there has been an increase in demand for 10-year fixes, so some people will be protected from rising interest rates for some time, but those whose deals are ending very soon may be in for a shock. An analysis by L&C Mortgages found the average lowest two- and five-year fixed rates were 3.46% and 3.5% respectively. That’s up sharply on January when the figures were 1.34% and 1.55%. That means a borrower taking out a £150,000 repayment mortgage over 25 years at the current average two-year rate would face monthly payments that are £159 higher than those paid by someone who signed up for an equivalent deal in January. Over a year that adds up to an extra £1,908. ^^ The total number of customers in arrears with their mortgages continued to fall in the first quarter of this year. At the end of March there were 75,670 homeowner mortgages in arrears to the tune of of 2.5% or more of the outstanding loan. That compares with 79,620 in the last three months of 2021, and 84,010 in the first three months of last year. But at the same time repossessions have gone up: 580 homeowner mortgaged properties and 370 buy-to-let properties were taken into possession in the first three months of this year, up from 390 and 320 in the previous quarter.
  16. I'd prefer house prices to stop rising for 5 years, then rise very slightly for the next 10+. However a recession may help to mop up some of the vast lakes of money that has been spewed wantonly into the economy. There's too much liquidity sloshing around, it's mucky.
  17. So you're going to ride it out, no fix?
  18. I can see those 3.19 rates disappearing today. We might be up to 4% soon.
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