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House Price Crash Forum


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Everything posted by FrozenOut

  1. You sound like me .....13 years ago. Go back and read some of my early posts. That was before the financial crisis and when we were still getting 6% interest through IceSave! Then go outside and live life. Don't waste 11 years talking to strangers on a forum, it won't change anything. You either have to suck it up and get involved or forget it. I've been in my property now 15 months - I'm actually quite happy ....Happier than I was back then. £1000 a month goes on my mortgage every single month on top of the nearly £1800 I pay under obligation. I'd love my second car to be a BMW M2 instead of a VW Polo but this is how life is - nothing has stopped this market since it started on the up post 1995 - I'm eternally thankful I'm not looking at one of those prefabs that were on BBC news this morning. Made me sick listening to how excited the BBC were getting promoting how first time buyers can now live in a 'glamorous shed'.
  2. Those are just words - how will they 'loose their shirts' exactly?
  3. The point is still being missed here, as I said recently - if house prices crash it will take the rest of the Economy with them - I say again, house prices will be the least of your concerns at this point.
  4. ......Was thinking the other day, the debt monster needs feeding, With Mexicans being allowed into the US and War pulling in people from war torn Middle East, the demand is now available - time for Printy Printy?
  5. Please understand, I was 26 years old when I became interested in house prices a few years later I found this website - and "Prices will correct very soon" is something I hear in different guises all the time on here. The thing is, they have a printing press now - this isn't 1992 ......1992 will never happen again. With an open door to 500m people (again, even as a UKIP supporter I don't see this changing) - means prices will at best grow slowly. But, here in the south east - where the money is, they're not going to go down. As per my earlier post, I turned 40 in May.
  6. On the deposit we're looking at 62%LTV and interest rate is around 2.44% (assuming you're talking to me of course)
  7. ....and they will tell you "no" just as they did me today when I offered just under asking price for a new home. I've been here a very long time (2003 I think). 12 years waiting to buy a house. I'm not bullish on property and I'm not bearish either. I have had enough though - this whole debate has consumed YEARS and YEARS of my life and I'm almost certain if I sit it out till 50 (ten years away) I will be at point in my life where house prices will still be unaffordable and on top of that, Banks won't even lend me any money anyway. I'm done sitting on the sidelines, I'm going for the best fixed rate I can get and my partner and I will throw as much spare capital as we can find each month to bring it down. Please don't think I'm swiping here, but most of you have been here as long as I have and I'm pretty sure you'll be having these same old conversations in 10 years. Good luck. Edit : Also, please understand, when the crash comes that we all so dearly want, it will be catastrophic this time, the least of your worries will be cheap houses.
  8. I'm not so sure we should be celebrating a melt down. I'm a long standing HPC'er but I can tell you, if this plays out to the extremes a collapsed housing bubble will be the least of your concerns.
  9. So ....What's everyone's take on The Shemitah? Every Seven years there is either an Economic Crisis or an event that changes the way we live.
  10. UKIP will be my last attempt to engage in Politics. I've seen the destruction at the hands of the Labour, I've seen the Tory Party just carry on where Labour left off but now attacking poor /underprivileged social groups - If UKIP bring about the change I think they will bring then fantastic, but if they don't I'll go back to not voting as I did for the first 25 years of my life. When I asked my parents and grandparents why they didn't vote, they always answered the same - they're all as bad as each other and they're all liars. At least I'll know my family didn't lie to me.
  11. Time to kick some ill-informed into touch here - Don't sit on your computers slating UKIP, most of these opinions (C**ts??!!) are based on what exactly? Get off your backsides UKIP slaters and have the decency to go to a branch meeting and meet people, decent people, people just like me .....Normal, hard-working, who saved hard who just wanted a roof over their heads without being crushed by debts, who are sick to the back teeth with Labour, Conservative and Lib Dems, Voters desperately looking for a way out of the misery these 3 parties have brought to the UK. If voting UKIP stops the constant demand for housing via immigration and thus results in pressure downwards on houses then that's the way I will vote, for the love of god I've been on this website since 2003! I just want a fair crack at the property market, like my parents did.
  12. Honestly didn't think it could go down any more than it has already, but Virgin Money cut my interest again today 1.55% down to 1.41% Just so sick of it ......
  13. <<Tin Foil Hat Time>> When it's time for it to crash, they'll make it happen. I
  14. Would it not be fair to suggest, vote UKIP, bye bye EU and within 2 years Bye Bye Housing demand as immigrants are told to leave the country? ....No Immigrants, No Demand for property = Price falls.
  15. Schiff reckons it's all just noise and QE will be back bigger and badder than before!
  16. 3 Years is quite generous - Kaiser reckons we'll be in the shite within 24 months and to be honest - I think houseprices crashing will be the least of our worries by this time - they are literally on economic course to Armageddon.
  17. This poll loses a shitload of credibility for slating those who have been fortunate enough to be given shelter by their parents. My parents are letting me live rent free for 3 years in their house they purchased under Thatchers right to buy (my grandmother lived here before) - that doesn't mean I look down on anyone, all it means I've just been massively lucky and I think we all deserve a bit of luck! I've been here for years waiting for the crash that never came and I'm furious at the likes of help to buy - This house I live in is 'worth' £270k - it's a 3 bed terrace in an ok ish area! I've already told my parents there's no chance of me buying it off them at that price! So in summary, this poll can just poke it - I've caught a lucky break and respite to throwing my money away but I still align with my HPC brothers and sisters and I hope we all get what we want sooner rather than later and I wish you all luck on the journey - just as I've had a little!
  18. Hi Lacky, Thanks for the reply. I think you’ve missed the point I was making – All I’m seeing is house prices rising the governors own prediction of it being 2016 before we see a rate rise just shows that the dodgy money him and his team have conjured up isn’t actually helping the economy it’s flowing straight back into the bubble that is the housing market. This is the exact same stupidity that lead us to the crash in 2008, if it was going in to the REAL economy, you’d see unemployment falling like a stone! On the subject of CPI target, it’s fair to say the committee have been utterly hopeless when it comes to predicting inflation – it’s been over target now for so long and so many letters have been sent to the chancellor explaining why they’ve failed to hit the target how they all haven’t stepped down with embarrassment I’ll never know. If the governor was truly aware of where his QE money is going he’d have put the rates up by now to cool off the market – but he’s actively encouraging it. In summary his remit IS the CPI target, they’ve failed in relation to this, they continue to fail and the dodgy money is re-inflating the bubble that gave us the 2008 disaster and that is a fact – they should all stand down, they’re incompetence leaves me speechless. When I last contacted the bank I asked how much funny money had been printed – it was £350bn. That was at least a year ago and you STILL need forward guidance on rates? The plan isn’t working is it? (Unless of course the plan is to pump up houses and crash the economy again and I suspect that will take two years) Rates need to go up now, I’m fed up of seeing a knackered economy where the debtors are being protected. They haven’t got any money and they savers aren’t spending, in fact they’re just saving harder! Thanks Frozen Out From: Enquiries [mailto:[email protected]] Sent: 04 September 2013 15:23 To: 'Frozen Out' Subject: RE: FAO Mark Carney Dear Mr Out, Thank you for your email dated 31 August addressed to the Governor, which has been passed to me to reply on his behalf. I can assure you that the Governor, and the Monetary Policy Committee (MPC) more broadly, has tremendous sympathy for savers. In particular, the MPC understands the difficulties faced by those who rely on interest from their savings to supplement their income. I know it must seem hard to understand why prudent savers appear to be penalised when they did not cause the current economic challenges. That is why the Committee is committed to securing a strong recovery with higher employment, which will ultimately mean higher interest rates. In a broader context, it will ensure that future generations are part of a more sustainable economy with better prospects. One of the lessons from past recessions is that raising interest rates too soon can weaken economic growth and actually prolong the length of time it takes to fully recover. The Governor has also stated the importance of achieving growth while bringing inflation back to target, which will also helps savers. The Committee’s policy prescription means we can all be more confident of a stronger economy and path back to where savers receive more normal returns on their savings. You express a concern about the growing cost of housing. House price inflation is considered carefully by the MPC not least because housing wealth serves as collateral for borrowing. Changes in housing wealth may therefore affect consumption and aggregate demand, eventually impacting on inflation. However, it is essential to understand that the MPC does not have a target for house prices – its only remit being to target CPI inflation. Decisions taken by the MPC are always made in order to achieve that target. Nevertheless, the Governor is acutely aware of the risks that rapidly rising housing prices can bring. In an interview with the Daily Mail on 30 August, he said: ‘‘We have the responsibility to assess emerging vulnerabilities in the economy such as housing, make those assessments and recommend action...Interest rates are principally an instrument of monetary policy for achieving the inflation outcome and there are other tools that address risks.’’ I hope that this information is useful to you. Thank you once again for contacting the Bank. Kind regards Bank of England Lacky Public Information & Enquiries Group Bank of England|Threadneedle St|London EC2R 8AH| [email protected] From: Frozen Out Sent: Saturday, August 31, 2013 3:39 PM To: Enquiries Subject: FAO Mark Carney ________________________________________ This email has reached the Bank via the Internet or an external network ________________________________________ Dear Mark, I’m writing to first welcome you to the United Kingdom. I was hoping with your arrival we might finally see some sense returned to our banking system but unfortunately you do appear to be going down the exact same path as your predecessor. Today my bank contacted me to tell me that my already pitiful rate of interest on my ISA is to be cut yet again. I hold YOU directly responsible for my worsening position with all the ‘funny money’ being pumped into the market by you and your team. Your current policy of holding rates where they are until unemployment comes down, you’d think with all this new money this would happen very quickly, but your forecast suggest it’ll be 2016 before we’re likely to see a base rate rise – in line with this observation I’m seeing house prices start to take off again, I don’t think it’s unreasonable to assume all your funny money is in fact going back into housing – in effect to re-inflate a bubble that in a large part was responsible for the financial crisis of 2008. A completely unproductive use of the QE money that’s destroying MY personal ‘wealth’. I think I know what’s coming next too – bank bailout round 2 – You’ll also be responsible for this if it happens. Between you and George Osborne I think we’re heading for complete disaster once again and I guess just like last time, the people in positions such as yourself will say “nobody could have foreseen this happening” I saw the 2008 collapse coming years before – so maybe I should be in a job with an inflation linked pension and getting paid your level of salary? Thanks Frozen Out _____________________________________________________________________ This e-mail originated from the Internet and has been scanned for known viruses by the Messagelabs SkyScan Service. ________________________________________ This e-mail is intended for the addressee(s) named above and any other use is prohibited. It may contain confidential information. If you received this e-mail in error please contact the sender by return e-mail. The Bank of England does not accept legal responsibility for the contents of this message if it has reached you via the Internet, as Internet communications are not secure. Any opinions expressed are those of the author and are not necessarily endorsed by the Bank of England. Recipients are advised to apply their own virus checks to this message . ________________________________________
  19. I've got a 3 year respite from all this misery - as you can see, I've been here forever as well. I now live at a house owned by my boomer parents - they purchased my grandmothers house in the original right to buy scheme back in the 80's - the house has been done out and I can save now for 3 years, but I don't expect much to change myself in the market by that time. They quite simply will stop at nothing to keep this beast alive. I'm voting UKIP at the next election only because they will deal with the 'supply' problem by stopping immigration which essentially is what keeps this pozi scheme running. I simply won't vote LIBLABCON again, they're all masks on the same face.
  20. I work in outsourcing - If you are a desk-jockey and use a computer to do your job, it can be done ANYWHERE by ANYONE in the world. Don't think your knowledge or 20 years experience means anything, because it doesn't. I loath what we do, train people of poorer countries in how to do our jobs and once the knowledge has been trasferred the UK employee is put out the door.
  21. Maybe that price is for the whole block? Not a bad deal if that's the case.
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