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House Price Crash Forum


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  1. 10 years of QE basically doing nothing other than re-capitalising the banks' duff balance sheets. As much as we are still sitting on trillion/quadrillions of funky derivatives, they aren't unwinding anytime soon, and we need an 'event' to trigger these things. I very much doubt Prezzo and Maplin closing down is a leading indicator of an impending doomsday. Surely we need a 'boom' to go with the bust. Outside of the funny money in London the last decade certainly felt nothing like the one before it.
  2. Its a status symbol, whether you want to argue the issue or not. Its also a piece of jewelry - But do you see women in-fighting about the rights and wrongs of wearing that? We are animals, we like to show off .... look to nature and you'll see if all over the place. Granted, they are cliched brand - but the same could be said about any 'aspirational' purchase.... cars, houses, boats, clothes, etc etc.
  3. These massive occilations are almost passe these days - If anything i feel a bit numbed to it all. The first few weeks i wrung my hands, bought some stocks, lost some money, made some money, watched the news constantly and realised i was turning myself into a wreck. Wake me up if we get any more 10% or above days
  4. 99% sure. Done alot of research. Short of taking the back off of it - The 'is it, isnt it' aspect is quite exciting though
  5. An anecdotal here to give some credibility to the original poster. Back in april after selling my car, i decided to clear all my outstanding debts with anyone other than the taxman, and buy a few personal toys with what was left. After pondering buying a new rolex here in the UK, i happened upon ebay in the states where there are literally hundreds of people trying to shift theirs for a sizeable discount. In the end, i bought an LV Submariner (James Bond one) from a guy who needed to fix the transmission on his wifes SUV and didnt appear to have any other means of doing that without liquidating his collection of watches. Got a 3k watch for around half price, complete with a multitude of appreciative emails about how i was helping out the seller immensely. Considering that it was worn less than 10 times before he sold it on, i thought it was quite the bargain!
  6. My IGMarkets screen is showing the telephone dealing only icon flashing on and off ... 185/185.5 bid/offer price roughly tho?
  7. Started like it was going to come to the right conclusions, but ended up missing the mark completely by leaving viewers with the feeling that this is all just a temporary blip before prices rocket up again. There were glimmers of hope in some of the stories, but only the market traders actually had anything worthwhile to say - Not a single mention of credit bubbles and monetary expansion that could possibly go some way in explaining why a pokey flat in notting hill could suddenly be 'worth' 800k. Still, its nice to see how theres 'green shoots' (ha ha ha) to be seen in public opinion towards the idea of housing as a place to live and not (just) an investment.
  8. Northern rock was the turning point for me - Although i'd been reading the site since about 2003 or 2004 (not sure when it was started), i'd kind of kept all my opinions of HPI to myself and never dared venture a contrarian opinion to the usual pub/dinner party conversations when there was nothing obvious to prove otherwise. Luckily, its all crashing around us at the same time the current relationship im in would head into 'what next?' territory. I'm renting a pricey flat right now, but its a good 50% of the price of what a mortgage would cost and i have no worries about money ..... this website has pretty much helped me avoid making the worst decision i could ever make
  9. She was mauled by Evan, big style. No decent answers given to any of the questions - she wouldnt support the market moving in either of the directions Evan was putting to her, or even the present state of play. How are we supposed to be building 250k houses a year now with building firms laying off 40% of their staff left right and centre. Governments buying up newbuild city centre flats? Who would have thought that the prediction of these newbuilds being the slums of the future would have been so dead on. She clearly has no idea what is going on.
  10. Business as usual in berkshire/surrey - Sitting in jam packed traffic every single day. The level of bearishness these days is pretty mindblowing compared to the same time last year, but yeah, it feels more like people are whining about having to cut back on their 3 holidays each year and an extra tenner a week to fill up, rather than ACTUALLY stuggling When i see boarded up shops on guildford high street, that will be the 'we're here' moment for me.
  11. Im keeping tabs on NE1, aswell as my current base in Berkshire/Ascot. Nice to see your entries indexed on there Pacific state - i've just been over to rightmove and you've tracked some eye watering drops!
  12. Why would you want to buy a house when the crash has only just STARTED? That 100k flat today might be going for 60k in a few years time .... can you stomach that? What if - You cant remortgage when teaser periods are up and onto other loans where the LTV's are 80-90% - Your bank asks you to take a loan out to cover negative equity - You can spend the same money in a few years and get something MUCH better - Places that look fairly 'cheap' now, end up being no-go council ghettos in the future. - You get laid off over the next few years due to a downturn in the economy Seriously, the smart money is waiting patiently on the sidelines right now. In face you are 'making' more money by giving rent to a landlord, than you would be by owning a property? If your aim in life is to get ahead then why knowingly LOSE money. Remember, back in 1998-1999 you could get a 3 bedroom house for 60 grand on bensham bank - new. Those same houses are 160k now ..... they'll go back to that if this thing plays out like it looks like its doing.
  13. Thanks for posting this Pacific state - a great account of whats going on in my home town. It will be very very valuble in the coming months/years !
  14. I grew up and went to school in and around that same area. Darras hall was the kind of place that doctors and solicitors bought and brought up kids..... I remember that circa about 2000, you could get a decent sized bungalow there ('posh bungalow') for a shade under 200 grand which was ALOT of money back then. Will be interesting to see just how long it takes before we see those prices again.
  15. Watching the market seems to feel more like playing fantasy footie these days .... I spend alot of time looking about at prices, but theres very little inside me now that would push me into the idea of buying. I just cant justify the risk of putting my name down against finding 2k a month to finance a house, any house. The only thing i crave these days, is a little stability in renting. After living in 6 places in as many years its getting a bit tiring having to up sticks and move on so much, especially as you get older and aquire more and more 'stuff' which cant be thrown in a boot of a car as you move between digs. My rent is a grand a mont, and although by historical standards its alot of money to me, theres no sleepless nights or money worries. If something breaks, i make a call and threaten to withold rent when its not fixed in good time... and its all magically done for me. Apart from dinner party bragging rights, theres little to tempt me into 'property ownership' .... apart from my parents house that will ultimately be left for me - Why have the hassle in the meantime? Im almost glad i 'missed the boat' since my life has been much more interesting without that pile of bricks and mortar making plans on my behalf.
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