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House Price Crash Forum


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Posts posted by neil324

  1. Depends where you live, anywhere outside the SE seems like a good time to buy. You could fix for peace of mind, but I don't see rates rising, maybe for 20 years or longer. A 'crash' from here isn't going to happen. You might lose 10% equity or wait 10 years to buy, take your pick of poison.

  2. I think buying is sensible if you factor in various scenarios mainly interest rate spikes

    They will pump till they drop, or you drop, no pun or sarcasm intended BTW.


    The Bank of England is expected to launch the latest plank in its strategy to kickstart lending next week with a move to free up billions of pounds held by banks.

    Experts believe the Bank's Financial Policy Committee (FPC) will recommend plans next Friday to relax rules requiring banks to hold large amounts of cash as a buffer.

    Lets be honest a HPC is the LAST thing that will happen.

  3. I have got to the point where I think some vendors and estate agents are simply insane. The valuations and prices are so beyond reality that they must be mentally deranged.

    A place came up near us a fortnight ago: a four-bed house, nothing special, for £680K. This is in an area where the average salary is about £20K a year.

    There is no-one in our area who could afford that kind of money. It is just ludicrous.

    It's like vendors feel the extent TPTB will go to underpin and want a piece of the QE action, hence what you say.

  4. :lol:

    An old bricklayer friend called today for a chat. He is actually working which was a surprise. Anyway he is getting £80 a day. Which is a 35% decrease from 2007.

    It's fooked.

    That is back to around 1998 pay BTW.

  5. Yes, markets are well known for travelling in straight lines.

    I agree, I look at charts all day long and them some.

    In that respect with what is being chucked at the underlying, it's HPI then. If you can't afford to par take you will be cast down with the sodomites, they don't give a fook.

  6. Yeah right..have you seen the cost of living !!! The banks are trying to raise the cost of living to the unaffordable house price level. I don;t know anyone that can bear this sort of price increases in the cost of living any longer.

    Have you seen the job losses ? All the people I work with are now expecting redundancies...there are no jobs to move to.

    Have you see the imminent collapse of the euro. ? This will have a big bearing on the HPC.

    This is not 2002.

    I agree with the UK fundamentals you mention. I don't see the Euro breaking up though.

    TPTB seem happy to maintain and even move more towards a divided society of have and have not's and are willing to do everything to prop up the housing market. This last week the news is pointing more and more towards this. When demographics change their stance will change.

    I would say there is more chance of HPI than a HPC with zero HPI the obvious favourite.

  7. WTF is gong on !!!!!

    Are we back at June 2007 and staring collapse in the face again.

    I'm seeing some mental asking prices, especially in London, and cant believe anyone would buy a house at this prices.

    Or maybe June 2002?

    Seen a lot sell in the last couple of months.

    BTW the house I offered 4% below asking has now completed.

  8. Going back a year now, but there was plenty of work down London and the SE for bricklayers, reduced rates mind. The rest of the country a general struggle, the North East was meant to be a depression and rates back to the 1990's take it or leave it, even if you was lucky enough to find any.

    Southern/northern Ireland again same as the North East. Plenty of tradesmen looking abroad, New Zealand, Canada etc.

    Fits in with HPI in general and money going where the return is.

  9. House builders are not charities. They build houses to make as much money as they can from the punters.

    They will charge anyone mug enough to buy in this environment as much as they can get away with. There is no magic formula to it, although they can doubtless concoct one to justify the costs.

    Was on site once grafting away when I over heard a conversation between a surveyor and the site agent.

    Surveyor - How much you got that completed house on sale for.

    Agent - £220K.

    Surveyor - Your not selling that for £220K, stick another £20K on it.

    Agent - Ok.

  10. The guy simon is right houses should not be speculative.....the radio presenter said but if you build cheap affordable homes it will reduce all other houses..... :blink:

    Isn't that where we are though. TPTB,boomers and people who are mortgaged already, protecting there own interests. A mixture of human nature and politics at it's best.

    The minority is just that, nothing.

  11. Interesting article from the front page,


    The U.K. economy’s total debt load stood at 507% of gross domestic product in the second quarter of 2011, according to a McKinsey debt report published earlier this year. This stood a near second to Japan’s 512% and was nearly double the U.S.’s 279% in a list of 10 major developed economies (Japan, U.K., Spain, France, Italy, South Korea, U.S., Germany, Australia and Canada).
  12. Any link to the fact that it's the worst on record?

    Looks like only FX news feeds onto it at the moment, the main stream media will most likely just ignore it, I thought this was good


    Forexpros - The U.K.’s trade balance fell more-than-expected last month, official data showed on Friday.

    FX Pros? WTF

    Strangely Sterling rallied on the back of this news, so maybe it doesn't matter :huh:

  13. Well, Santander Europe is probably that big, but Santander UK....all those nasty B&B Buy to lets....I'd like to see them go pop and have them all repo'd and sold off at auction.

    This whole thing is about their debt/housing bubble.

    Everyone thought they were doing so well when their house prices shot up...not look at the mess.

    No amount of equity in your house is going to save the people of the UK, in the long term we are going to all be extremely poor.

    Still the bankers will be fine.

    Santander only bought the Bradford & Bingley savings book, the mortgage book was took on by the UK tax payer and is now called Mortgage Express.

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