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House Price Crash Forum


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Everything posted by ezekiel

  1. Family can give you anything they want (tax free) so long as they live more than 7 years. If they die within the 7 years there is a decreasing level of inheritance tax to pay if the amount is over £360k.
  2. I went to one of their "taster" meetings a couple of years ago and was staggered at how stupid people were. So many people were caught up in the potential to make lots of money that they failed to see that they were the ones who were paying for everything. I mean really, they actually get you to pay for the privilege of buying the properties that they want to sell to you. It would be like being charged an entrance fee for going into Sainsburys! And then laughably they say you have to pay for access to their "Fuel" mortgage company - like if you simply applied to borrow money from them and were a good credit risk then they'd refuse because you didn't have a membership number (which business turns away customers on this basis?). Complete wa*kers the lot of them (customers too). The fools paying the money deserve to lose it and the sharks taking it deserve to go to jail.
  3. So Merril Lynch (and others) have found their CDO's are worth less than they thought (Merril's are down £8billion). So my question is, what is a write down and how does it work? Its clearly not a straightforward loss otherwise they wouldn't describe it differently. I'd like to understand how long this works for and what impact's it has on a business (does it make their shares go down and if so why).
  4. Hmm, you obviously believe your own so I won't get involved. Its fair enough - we all do this from time to time. But it sounds like the politics of envy to me mate. So I suggest you grow a pair and get a job (and possibly a girlfriend - even better a wife and kids will grow you up). But that's just my opinion of course. Best of luck on the march, hope the weather is OK. If you have second thoughts - I'd read a decent book on market economics if I were you - I reckon you'll get more pointers on how to change things.
  5. "Bash the rich"? Sorry to be blunt but I think you're talking like a tw*t. As has been pointed out, you don't know why they're rich and some of them probably deserve to be in their situation. And as for the others, who are you to judge? Why don't you grow up and instead of going out and whinging pointlessly, get a job that will make you lots of money and then re-distribute it yourself (if you've got the gumption and the balls). Alternatively, try to actively change the system that you resent (I doubt you can but you could try and prove me wrong). But please, don't go on a march like its going to change anything. Also as has been pointed out by another poster, you wouldn't dare make such sweeping statements about non-whites, gays or indeed any other group that wasn't predominantly white and male. I'm sure your views are well intentioned, but I think you should give the whole thing a lot more thought. Alternatively, post HPC related comments here maybe?
  6. Yawn. What a complete tit that guy is. Personally I'm really enjoying listening to idiots like that sticking their reputations on the line, just as things are turning. I think its a nice balance after having predicted a crash a few years ago and then have had to admit to all my MEW-mates that I'd called it wrong.
  7. I agree that not all properties drop by exactly the same degree. The type of property to go for would depend on the part of the country you're in' but in a medium size market town I'd go for a semi. The reasons you've given all seem perfectly rational to me. But the underlying principle with buying remains - you buy the worse house in the best location. "Best" in this case could be access to schools or transport or potentially a university or college if you have one in your area. Basically its got to be the area that will be more or most desirable to the people with the deepest pockets in the event that there is a downturn and you have to sell. I'd also agree on the south facing garden and large garden comments posted by someone else. Additionally, another important factor is the ability to extend or convert a loft or attached garage. These enable you to add space at the lowest cost although that would be the last resort in a falling market - but its important to have options.
  8. Depends on your salary, deposit, LTV, location, prospects etc. I can see it would have been a tough one but I think you're likely to suffer serious decreases in value in the next few years. But if you're going to stick with the job and are happy where you are then so be it and get on with your life.
  9. Sentiment has changed in our place. Everyone is talking about the BBC2 show from last tuesday. The MD is going to STR (sale is just going through now). One colleague (nice guy) is buying at top whack and ignoring the risk completely. I know he's going to regret it in 5-10 year's time when he's still paying the thing back.
  10. If you've got kids then you'll feel for that pair with the kiddie sleeping in a cupboard. Just awful. But the MEW **** - I hope he ends up in shite creek. By the way, this journalist is superb - completely hitting the human angle without having to use any economics.
  11. que maniacal laughter after a crap day this is just BRILLIANT! This bloke has distilled HPC into a TV show and everyone at work is talking about it. I can't wait to talk to friends and family to see their faces - apparently ever increasing house prices are a bad thing - who'd have thought it?
  12. Hi I'm trying to persuade a colleague and friend that house prices are going to fall. To support this, does anyone have any links to graphs, reports or stats on other countries and their house prices. I'm thinking about the US, Ireland, New Zealand, Oz and maybe France. I know that such resources have been mentioned in other posts so hopefully they'll be easy to dig up? Thanks Eze
  13. OK, I'm feeling stupid now but why do you need to keep 20% in an offset. Is it because the rate of the offset is typically higher and so if you're not "off-setting" (with the additional equivalent tax breaks if you're paying 40% income tax) then you'd get beter value from a discounted rate?
  14. It doesn't cover existing (foriegn) residents, retired or working. It doesn't cover newcomers, so long as they work and don't take early retirement.
  15. People live in an absolute dream-land. Most people I know don't think about this stuff at all - I wish I was one of them.
  16. Hi I'm remortgaging and am interested in what you guys think. Would you go for 10 year fixed offset (at 6.2% with HSBC) or go for regular 2-3 year discounted deals. My situation (I hear you ask) is OK-good income prospects (I'd expect pay rises of 10-20% in the next year, 5% after that but with good chances of a £10k bonus) with a current discounted mortgage ending in January. Cash situation is OK right now but we'll be looking at an extra £400 a month in January which the pay rises and my wife's increased income should cover but it would be good to keep some of that extra bunce. So I either fix myself in, pay more but have certainty or.... hope interest rates don't go up (which I think they will but the swap rates appear to indicate otherwise), pay less on a discount and re-mortgage every few years. My one rule is that I'm not paying anyone any application fee of more than £100. Suggestions welcome. Ta
  17. Excellent - the silly EA tart fiddled the Land Registry figures and she still can't sell it for "what she paid for it". I love it. Even the millionaire investor says that prices have to drop 20% to make things "realistic" and not even "desirable". The sh1t is coming down the tubes.
  18. Oh this is so funny - Paula's losing £120 a month in Liverpool! And she's a manager in an EA - PERFECT.
  19. I've been looking at www.swap-rates.com and don't understand why the interest rates fall the longer term the swap rate (or LIBOR) is for. Is this because the bank gets a better deal because they're going to be paying more interest (since the term is longer) or is it because everyone expects interest rates to be lower in the future? Or is it some other reason? Explanations appreciated. Cheers Eze
  20. you can always run the cable down the edge of the block paving and either disturb little of none of the drive. Anyway, you make a reasonable point but there are many examples of things EAs don't know but should. Unlike many of them, (neighbours, crime, schools, local amenities, local planning issues - on which they know very few details) internet access can be fixed - but a shite neighbourhood can't be.
  21. Strangely, the price of Hovis wholemeal flour has dropped at both Tescos and Sainsburys Only problem with a breadmaker is that it goes off much faster without all the crap the bakers put in it.
  22. Now that is funny. Please someone, will you set it up. The possibilities for p*** take are endless.
  23. I don't know about the others but if you think that the SE will be negative then you're reading very different numbers to all the ones I've seen. Drops here will take at least another 2 months to come through in general asking prices and probably another 4 to come through in completions.
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