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House Price Crash Forum


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About edwardbear

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  1. Paper losses then, call them what you want they are still red ink. He doesn't seem to have it all figured out as accurately as he'd like to think. The dollar has crashed, and since recovered a fair bit. Moving into other currencies would have lost him quite a lot of money recently.
  2. Yes, and he also said China would shift towards domestic consumption and become less dependent on exports. I suppose he never mentioned what timescale he was talking about, but at the moment there doesn't seem to be any indication of that happening. Can't ever see him talking about his losses either. He seems to be very confident.
  3. I like a lot of what Peter Schiff has to say but some things seem a bit dubious and I somehow can't see him ever admitting that he got some things wrong. His decoupling theory for example. And he must have lost a lot of money with his foreign stocks recently as the dollar rallied and stockmarkets everywhere dropped.
  4. I think those ownership figures are a bit misleading. In big cities Im sure there are more renting but isn't that the case in London as well? In smaller towns I'd expect ownership to be much higher.
  5. AEP does tell some great stories doesn't he. My favourite was how gimmicky tourist currency vouchers in some small, out of the way villages in Germany were signalling the breakup of the eurozone. When right under his nose he didn't realise that the swimming baths in Berlin had changed the lockers from accepting euros over to tokens. Now that has to be a sure sign of currency stress.
  6. we rented for about 7 years in Germany before we bought our flat. People in Britain seem to think that 90% of people in Germany are renting. I remember seeing a statistic that there was about 45% ownership in Germany vs. about 75% ownership in the UK. Doesn't seem that much of a difference really and it probably depends on the area. In rural areas there would be a much higher percentage of ownership.
  7. I think nearly all the regular posters are really interesting and seem to have their heads screwed on, but some more recent posters are talking some serious rubbish.
  8. "Remember, on average, we are still paying 3% less than the national average house price, to live in what is still one of the least crowded areas of the UK with a quality of life second to none." What relevance does that have for anybody who overstretched in the last 2 years and will possible be in neg. equity and the same house for the rest of their life? Always put a positive spin on it too don't they. Buy "as much as" 30%. I've seen houses that have fallen by 45% and it was a normal terrace. That's on very low transactions so wouldn't like to bet on it being the bottom.
  9. AEP articles seem like a rant from someone with an axe to grind to me.
  10. As far as large drops go I saw a house in a street round the corner from that one in the spotlight program that recently went sale agreed for 120k. Bearing in mind that the house on spotlight must have at least been fairly similar, thats an enormous drop of about 100k and I was quite shocked. Especially when other houses in the street are still on for 70k more.
  11. Depends what is meant by looking after. If the parents require fulltime care then probably more responsible to pay somebody who will do a good job where they'll be well looked after rather than do a bad job of it yourself. All this morals and responsibility sounds nice of paper but what does it mean in practice? Fact is not everybody is capable of being a good geriatric nurse. Nothing wrong with that.
  12. Why do people keep repeating these cliches? The difference with a new car is that it only costs about 20 grand or so. Its really not that much money when you put it into perspective. If you want to move house, it usually is not dependent on you being able to get a good price for your car. You can possibly lose more money by buying an overpriced home than you can with any other purchase you will ever make in your life. Houses that sold for 220k near where I used to live are now sitting unsold with asking prices of 160k. Who knows what they would sell for but it certainly isn't 160k. So
  13. Its odd how attitudes have changed over the years. I remember in the early 90s that if you'd bought something on hire purchase people would have thought you were nuts, and poor as well.
  14. thanks for the explanation. I'd always thought limited company = limited liability.
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