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House Price Crash Forum

Lander

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Posts posted by Lander

  1. You are right but have no fear it will adjust as it always has. This was a credit fueled property boom that lasted way to long. The cracks are now plain to see everywhere and it's only a matter of time now. No different from the early 90's apart from being far worse.

    I agree, we could see a California style collapse in places like Sydney

  2. Bardon

    Tell us why less disposable income a good thing? It's killing the economy here and the US, people are staggering under the weight of their debts because they overstretched themselves to pay for an overpriced house and now they are having to rack up even more debt just to survive. As a result, people now have very little money to spend on goods which keeps the economy afloat. Oz is no different, worse in fact because ftbers and investors have borrowed significantly more and have been conned into paying 7-8 x salary for a house in places like Sydney. The bubble will burst sooner or later, probably sooner imo as IR's go back up and the contagion from the US commercial real estate meltdown spreads further throughout the global economy and we get another credit famine next year- which will force banks to ask for higher deposits thus speeding up the process of a crash.

  3. That guy paints a spooky picture alright, of early-stage societal collapse. His depiction of broke threadbare unemployed homeless Californians shuffling to the toy shops to buy their kids a xmas toy "as if it reminded them of years gone by and they were drawn to the stores" reminded me very much of the Romero Zombie movie Dawn of the Dead, where the zombies are drawn to the shopping mall as they once were when normal.

    Tense stuff indeed

    Yeah it is tense, these people are dressed in rags and yet are still in denial that the recession has turned into a depression. Years of conditioning by the tv has turned people into consumer zombies that don't know how to do anything else. I guess that's why they call us 'consumers'.

  4. No, its not because I think prices should go up, or I have any VI in them doing so.

    I just think that vast vast majority of people, like 90% + think that prices going up is a good thing, a great thing, something that should always happen.

    These people will not sell their property for less than it was worth a few years ago, oh no perish the thought.

    Along with the government making savings worthless via low interest, well else do people put their money? It was good when interest rates were 6%, so now its even better surely?

    So yes, Im begining to think our thinking that house prices should crash because its unsustainable, stupid for them to go any higher, will not matter in the scheme of things. Because the stupid majority will control what happens and if you cant beat them, you might as well join them.

    Most of the stupid majority will be out out of work or having their wages slashed/frozen soon.

  5. I agree with this.

    Gordon and the banks want to keep house prices high. In fact, I'd say that probably every single one of the political parties want to keep house prices high because they're invested themselves or nearly every single one of their voters are and they want their vote.

    The earliest I'll be in a financial position to buy will be 2011/2012. If house prices are higher than 2007 at this point then fk it. I'll give up on home ownership forever and accept that I will be a dirty, filthy, renting second-class citizen for the rest of my life.

    I suspect, however, that they won't be. Like many here I'm anticipating a sh!tstorm in 2010.

    And if it doesn't occur then nothing will matter because _they_ will have won. It will be proven that anything, everything and everyone can be manipulated in both their thoughts and actions.

    A nation of property-rich, cash-poor, multimillion-pound debt slave sheeple who will vote on, and agree with, whatever it is _they_ want... just as long as the illusion is maintained that their pwoperdee is perpetually increasing in value.

    This needs pointing out more often, the sheeple are too moronic to see that expensive houses are a bad thing. They must like spending most of their wages on shelter.

  6. And they are right.

    Base rates have been cut to 0.5% and they aren't going back to anywhere near 5% any time soon.

    And the state will pay your mortgage if you are out of work.

    All the more reason to financially stretch yourself while IR's are low by buying house now before you miss the boat

    :rolleyes:

  7. young lady came to my house this morning, chatting to daughter.

    recently married they had to sell their house as the mortgage was too much.

    Shes renting. Course, a baby is on the horizon, so the hubby has been to the mortgage broker...refused as he hasnt been in employment for 6 months.

    I asked whats wrong with renting...you can afford it...

    she said its not a good way for a child to be brought up.

    Oh well. Renting is clearly the last resort for the scum of the UK.

    It's people with this attitude that are wrecking our country.

    They shouldn't be allowed to breed

  8. don't be silly, the sheeple get as much of the sandwich board rhetoric as they do the reality tv fluff.

    The difference is, love it or loathe it, divorced as it is from the everday work and school existence of joe and jane average, the reality tv nosh is actually happening. That's probably why they don't give a shit about the financial meltdown that isn't going to happen.

    They are far more pragmatic than you give them credit for. It's the nutjobs and doommongers on here who live in la la land, with their piles of STR cash and gold....anticipating the second coming of enoch powell.

    Some people have done quite well from investing in gold from the recent price spike. Actions of a real 'nutter' eh <_<

    Imo the real nutters are the sheeple in total denial to the economic collapse that's ravaging our economy, they have their head in the sand and are becoming totally detached from reality

  9. http://news.bbc.co.uk/1/hi/business/8379237.stm

    I am staggered that only employees who 'earn' over a million are to be monitored. What about a quarter or half a million 'earners', huh?

    As we are propping the perishers up, what justification is there for ANYone to be pulling in these enormous sums?mad.gif

    Banking is a bit of a doddle, let's face it. Big bucks if you bugger up - big bucks if you don't. Where else can a bod get so much lavished on them, for so little talent/ability?dry.gif

    But bankers are 'doing the work of God' and they deserve their ridiculous salary

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