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House Price Crash Forum


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About bushboy

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  1. i'm fookin ecstatic to be honest, i live in a big 3 bedroom house with a couple of mates paying £480 pcm when a mortgage for a comparable standard of living would cost £950 in interest payments. we've got a big garden, excellent transport links and are surrounded by friends, bars, restaurants etc. none of the properties around us are selling and prices are already 10% down from peak. my rent means i can't spend what i earn in comparison to me mates with mortgages who are up to their neck in it and it means i'm saving a tidy deposit. oh, and if anything breaksdown or needs a lick of paint i call me landlord and he sorts it out for free!
  2. Very lucky, ground floor flat next door to me, just off northcote road, in need of work with garden, probate sale was offered at £300,000, was sold "stc", then re-appeared at £230,000.
  3. Calm down Girls it was there entire COMMERCIAL property portfolio, hardly a house or flat in it.
  4. Potential for Wilma to go from a Tropical Storm to a Hurricane in the next 36 hours. Guess where?
  5. Todays press release shows imported goods in the US rose at an inflationary rate of 2.3% UP from 1.2% in August, the highest jump since September 1990. We know the Feds hawkish views on interest rates and that they're not scared to do anything they can to stop the rise in Inflation. On the flip side a lot of this could be down to Katrina & Rita and therefore short term. My question is, could they look to raise base rates by 0.5% rather than 0.25% in November to curb inflation? If so Merv and the boys could be forced to do the same. Is this a realistic scenario?
  6. Am i right in thinking that the ODPM figures released today show the South East as going year on year negative in regard to house price inflation?
  7. The US have raised interest rates and we have held ours which means that there is a gap of .75% whereas just over a month ago this was 1.25%. Rita is off and running towards the poor old Big Easy and oils back above $67. Is this all too late to impact on the upcoming inflation report? Surely this kind of news should be getting more press coverage or am i being a bit a bit naive? Anyone with an economic brain i await your views.
  8. I have a lump sum earning interest in the bank that i intend to add to as i save up a big deposit whilst house prices (hopefully) re-adjust significantly. I am saving this money SOLELY for the purpose of buying a house/flat. Therefore although general inflation and therefore the cost of goods may rise, is this money a hedge against such general inflation as it will ONLY be used to buy an asset that is to depreciate in price? Answers from those more economically minded greatfully appreciated.
  9. f##k em all i say, this country is built on greed and thats stopping me getting on.
  10. I'm not that technologically enhanced i'm afraid but its on bloomberg as a front page headline.
  11. Theres a strom brewing across the pond which could go hurricane force and hit the Gulf of Mexico, funnily enough the biggest domestic pump of oil for the States. Analysts reckon if this happens they could be testing $70 a barrell. Inflation? nah
  12. I just say "if you don't want to see me living in a sh#thole with negative equity for the next 10 years lend me £200,000." That normally does the trick to be honest.
  13. Surely if i'm sitting on a good yield then its in all likelyhood a long term steady investment anyhow. It's all about discounting sentiment with the knowledge and experience of already being through a cycle whilst tracking economic fundamentals. I will be working on the greed and stupidity of the British general public to do the rest for me. As for "Gazundering" I would have absolutely no moral problem with doing this, its business and markets move, if they don't like it they can pull the papers on me and try and sell to someone else, otherwise accept the market price.
  14. The market goes ping and i buy a property at a discount price from a repo or someone desperate, chipping the price at the last minute in the process. Yields are good as demand has fallen through the floor and i then set up a company, privately backed by an equity partner and buy a few more properties whilst capital values are still depressed, as the market scrapes along the bottom for a few years. The existing cycle repeats itself with the greed and stupidity of the general public sweeping the market into an unsustainable frenzy. I monitor the economic climate and sell at a target figure, probably less than the current wage to house price ratio and then probably below the peak but i'll have made a lot of money anyhows. Would this make me a bad person?
  15. Know what you mean, we sold my grandfathers 4 bed house after he passed away in a nearby village at a 15% discount to the original valuations. Took a while to get the interest as well.
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