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House Price Crash Forum


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Everything posted by IMHAL

  1. 1 - Protection for those that rent to kill speculation in BTL 2 - Restrict lending to 3 times single wage - 2.5x married 3 - Get rid of no cert loans period 4 - Increase reserve requirements for banks 5 - Outlaw outlandish leverage Injin - I am sorry but allowing banks to lend has to be restricted as they have amply demonstrated they are happy to cream the money off when times are good and they are happy to socialise the losses when time are bad - so by definition they cannot be allowed to put themselves into this position. HAL
  2. As soon as they wake up and realise that the bus/train/petrol and sandwich costs more that their wage. HAL
  3. Have been on here since 2002 when I decided that HPI was allready insane - sold in early 2004. 2005 was a flat year for HPI but then the market raced ahead again so started to doubt my sanity - luckilly I resisted re entering the market. HPC has been an eye opener for me as well as an educational experience. I have estimated my losses up to this point (from selling early) as £42K - however for each month that the crunch goes on I recover about £10k of that - break even time for me is December 2008 - every month after that is a gain. Let me stress that I did not sell because I wanted to make a profit - I did not want to live in the house I had at the time so thought why not sell and rent with a view to picking up a house I really liked in the future. I will be in the market for a house in the next year or two - I am in no rush but as other have said when a good one comes along then I will buy wheather that is 1 year or 2 or 3 - at a sensible price of course. HAL
  4. You seem to know much about employment. Would you like to tell us what the employment figures are as a percentage of the population - it would be nice if we could also discount those working for the public sector. Then we would have a true reflection of those that are productive. If you could also let us know how this has changed over the last 15 years then I think I might just take you seriously. HAL
  5. Total piffle! The estate agents job is to advise a client who wants to sell what the realistic price would be if they wanted to sell now - which presumably the seller wants to do. If the seller decides that they do not want to sell at the price recommended by the agent then they don't have to. The fact that some EA's are trying to manipulate the market by taking stock off the market is a tactic for the insane and soon to be out of business. EA's need transactions to survive - this EA is clearly looking forward to life on the dole queue. I expect that EA's over the last few boom years think that they can somehow control the market - that is about to be exposed. They will have to re-learn how to actively sell soon or they are done. HAL
  6. Personally - I think that both gazumping and gazundering is bad form - neither should be allowed. The only thing I would consider is reducing my offer based on a surveyors report and that the description being significantly different to how the property was described. I am kinda traditional and I would only enter a transaction if the price that I am offering looks like a good deal upfront - if the seller understands my offer (which will be keen) then I see no reason to try to cut the odd £10k from the price last minute - that is simply being cowardly upfront. Simularly if anyone tries to gazump me - the deal is off - period. This is a mine field - and there are no right or wrong answers. Given that sales go through on less that 3 months usually then there is usually no sense in changing the price - but when the market is very stagnant then some people may feel that the prices of equivalent properties have changed in the mean time - so they have to make a choice - either pull out and buy a cheaper property elsewhere or demand that this is reflected in the current sale prices. HAL
  7. So now we have husband and wife teams both working to keep the 'other half' of society in cream tea parlours. Great - no wonder chav culture reigns supreme - no mother at home, father working till all hours - a counrty in terminal decline - at least for those that work it is. HAL
  8. Well put - I like that! I honestly think that this is the big one - but I am guessing as to how long this fiat ponzi scheme will hold up - could go soon, could take 10 years - depends on how draconian the government become. HAL
  9. What this clown mean to say is YOU ARE ON YOUR OWN. I just wish he had said it - then everyone whould know where they stand - so long as this fake 'benevolant' government give the impression that they will help everyone no matter how stupid they are, then the masses will continue to spend like there is no tomorrow only to find themselves on a heap on the floor. HAL
  10. Your are right - it was a baloon fit to burst looking for a pin at the time. The pin happened to be a credit squeeze - it could have been any number of things. The point being that it was 'ready' to go pop and pop it did go. If the government and the banks had decided that it was too risky to allow this type of speculation in the first place - by say raising IR's instead of decreasing them in 2005 or even before then we might have averted the madness and fallout we are now witnessing. Unfortunately Al Greenspam and Ben Boomer'nanke chose to allow speculative bubbles and then 'clean up' the aftermath - however there are some aftermaths that are just to messy - this is one of them. Its like saying we can't stop a nuclar war - we will just clean up afterwards - nuts! HAL
  11. If you think about it Gordon Brown stole the money when he dipped into the pension pot - thats where it went. Also if the state is not intent on providing benefits and wellfair to the old why are they asking for the taxes without explaining what these are for? I'd rather the government said less NI and we will deduct the money from your taxes but no pension so that we knew where we stood. If they are to take all your posessions when you are old - why the hell save. Why dont we just rent everything from the state - infact we should go to Putin and say we want to join them. HAL
  12. I guess I should have asked why you considered buying in the first place- so why? Or you just a teasing Swansea boy. HAL
  13. Look at it as insurance againt high inflation/hyperinflation. Also ask yourself these questions: 1 - have banks really tried to control inflation or have they contributed to it? 2 - what the easy way out of this recession if not inflating debt away? 3 - do you trust our politicians to protect our currency or do you think they will take the easy option and inflate? Then consider that since the time when fiat has not been linked to gold the response to any financial crisis has been to inflate. They have no other answer as defaltion is painfull and not a vote winner - whereas inflation is a silent and slipper thief that most people do not understand. If you have any doubts - then get some insurance - it need not be massive - 5-10% of your cash. I do not see it as an investment but as protection/hedge against those that control the buying power of our money. HAL
  14. As other have said - its wage inflation thats important here are you only compete for houses with others that earn money. My calculation took me to about 45% off i.e. at around 110k for an average house by the end of 2011 - this was calculatd with wage inflation at about 4% p/a. HAL
  15. This government will be getting bum-f8ked left, right and centre on all their PPP/PFI deals - as soon as they stick their hands in their pockets all the others will come out and ask for more - thin end of the wedgy this one. Watch-out coming your way soon - higher taxes and no service - courtesy of ZanuLabour. HAL
  16. You wont get a level playing field with politicians - they will keep changing the goal posts to cover up their incompetence. Labour where once upon a time what I would call honest fools - they wanted to change the public sector to make them more efficient thereby providing more services for less cash. What they managed to do is provide less services for more cash - not the kind of result that they want to shout about - so they change the goal posts to make it look like they have suceeded - they know in their heart of hearts that they balls'd up and the public hate they for it. NuLabour are now what I would call dis-honest fools - they are so entrenched in spining the truth that they cannot recognise what is and what is not truth anymore - a good 20 years on the sidelines will help them to regain the ability to speak the truth and then to consider how they messed up - that is if they survive. HAL
  17. Seems that we cannot finance everyday expenses to pay for necessities without taking out a mortgage. Thanks NuLabour and all your idiot supports and pupet master for 'helping' us . As an aside I went shopping for groceries today and had payment shock! £30 quid for a small carrier bag of stuff. Holy cow - our pensioners will be on dog food by the end of the year - still its comforting to know that CPI is only 5%. HAL
  18. The answer is no - NuLabour cannot see anything wrong with what they have done in the last 11 tears. Are they idiots - definately yes! They are socialists - the believe in giving everyone a chance to be rich, to level the playing field. Unfortunately this chance at being 'rich' has been an illusion whilst the true state of finances of the poor has gotten steadlly worse and now the poor are debt rich.Sad, so very sad. HAL
  19. The majority have elected to be imersed in debt - the majority will vote to be bailed out - the majority will want to defer their debt to their children and grandchildren - this is democracy for a corrupt and sick generation. HAL
  20. I can't see the point of having a pension in fiat based money - if anyone thinks that in 20 years time their annuity will be worth more than the stamp to send the cheque through then they are deluded. I am not in a good mood. HAL
  21. I am really tired of Kaletsky - he is a dork - the guy wipes his elbow whenever he has a cr8p. I wonder who is shuving fivers under the table to work his mouth - no offence Kaletsky - you are a dork. HAL
  22. Tho makes some good points - sounds like state sponsored privatisation, looks like state sponsored privatisation - must be then. HAL
  23. By my watch I make it 2018 or thereabouts. Due mainly to super-symetry of the up quark and down quark unless the collision on Wednesday works of course - then there will be no correction for another 3 billion years and most certainly not on earth. HAL
  24. I agree - I'd like to formulate some thoughts about how this is going to pan out. Here is my take on it if they do start the printing presses and we have not misunderstood the measures taken. 1 - oil will hit $150 again and probably will continue climbing (the oil barons are in the know) 2 - stock markets will rally (investors with insider knowldge will spend their money) 3 - the next round of foodstuff inflation will hit 4 - wage inflation will become inevitable 5 - wage spiral will feedback into inflation giving it that upward momentum I also expect gold to rise in price, but because it is so heavilly manipulated I do not see that as a short term or reliable indicator. As everyone knows its the people who have access to the first money from the printing press that gets to be king - but we are not in the know - we are speculators at best. The above list are my indicators for hyperinflation - particularly wage inflation as this is the key for anyone wanting to buy a house as it increases competition. Anyone care to comment or add? HAL
  25. Ok so it looks like it will pan out to be hyperinflationary now that the Government is in control. There has never been a government that when faced with the option of increasing taxes or printing has not opted to print - so its a no brainer. I still feel that they will try initially to "do the right thing" and take some pain - but I also think that after the initial pain they will be looking for easy escape routes - printing will do nicely - only to tide them over of course. The question is what will be the outward signs when they do start the presses running? What should we be looking out for? Will it feel any different to a boom (I've heard the term break-up boom before)? Will it come much quicker? Will it catch us unawares? Seriously - this sounds like it - but I am unsure if panick is in order or a more orderly gathering of ones thoughts and some sort of cunning plan Baldrick style. HAL
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