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House Price Crash Forum

strbear

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Everything posted by strbear

  1. Article in the Times - ummm? http://business.timesonline.co.uk/tol/busi...icle1917501.ece
  2. One day all mortgages will be sold this way . . . . . enjoy
  3. Article in Today's LA Times - seems no one is too sure what the true level of foreclosures really is - good news for Bears though is that Dataquick (the numbers often quoted on this site) are way under! Full article at http://www.latimes.com/business/la-fi-fore...a-home-business
  4. In another interesting twist Grant Thornton has just resigned as auditors to two sub-prime lenders because they find it difficult to make value judgements in the state of the business and don't want to get sued if it all goes wrong . . . http://www.latimes.com/business/la-fi-subp...dlines-business
  5. Interesting article in today's Sunday Times. http://business.timesonline.co.uk/tol/busi...icle1595909.ece
  6. "Sweeping mortgage bailout unlikely - Plans floated so far suggest most in danger of foreclosure won't get government help." Interesting article in the LA Times today about State and Federal support for homes that enter foreclosure - what is frightening are the potential numbers - 460,000 in CA and 2.4M nationwide perceived at risk http://www.latimes.com/business/la-fi-bail...-home-headlines You may need to register to see the full article. But don't worry - it can't happen here - interest rates are too low!
  7. The Telegraph article is also very hawkish even if his comments are from "Economics for Dummies" http://www.telegraph.co.uk/money/main.jhtm.../cnmervyn28.xml
  8. I like this comment I'm just a simple engineer but if I designed aircraft using the same techniques property "experts" use to determine whats happening in the market we'd probably end up in the same place - a crash! Whats happening in less than 0.25% of the marketplace is not representative of the market - its the froth on the bubble. The new paradigm the "experts" are asking us to believe isn't fact - its NOT different this time - house prices are no longer connected to income but to the highest levels of personal debt ever. Want to know where the market's going? Read the front page of today's New York Times and you'll see - fundamentals are fundamental after all! If the property experts are professionals they should have no problem letting you reclaim your negative equity from their professional indemnity insurance. Will they? I don't think so and thats all you need to know.
  9. The comments are just starting to appear - have a read there is quite a backlash against the article!
  10. I rent a large 3 bed barn conversion in one of the most desirable villages in Yorkshire - just outside Ilkley - with easy access to trains to Leeds (25 minutes) 3 minutes from the front door for less than you are proposing to pay for a mortgage - I'd say think about it very, very hard!
  11. If you look at what the "buy now for cash" companies offer its usually around 25-30% less than the "real value" of the home so if your able to offer a quick deal that might be a good starting point.
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