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House Price Crash Forum


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Everything posted by Woot

  1. I believe this is interesting because they appear to feel the whole crash-machine is proceeding faster than their ability to process and put into place mechanisms to alleviate the crash. Tick tock... TD
  2. Here, here. ...And, look what happened in the USA when people had to pay for a service - the rich got treatment, the poor got dead. TD
  3. Here here. The utter ineptitude of govn led IT projects in recent years (remember passports, and central criminal fingerprinting databases?...) is a disgrace to the government and to all project and programme managers involved. In Computing circles they are held up as archetypal examples of how NOT to run a project. I wish for a John Harvey-Jones-type to go in and sort it all out, but unfortunately that ain't going to happen whilst there are pigs with their snouts in the trough. TD
  4. Good thing you copied it here rather than just linking! Interesting find. TD
  5. Another useful link RB. You have always been completely consistent in your assertion of commercial property leading the fall. I had to travel through east London on the DLR the other day and was stunned by the amount of newbuild offices going up: so many cranes it looked like the South Bank in the late 80s. Huge, high-cost towers abutting Tower Hamlets, of all places! The square footage will be extremely high and with the present market indicators it will be interesting to observe how easily these newbuilds are filled. TD
  6. Actually, I am reliably informed that the current computer systems in several significant banks are cracking up with the volumes and that there is a significant lag in the processing. Many of the techies are working weekends to keep the whole lot up and running (string and selotape and large quantities of Val's knicker elastic!). TD
  7. This is positively delicious!!! Is it real??! I love it - you've totally made my day. Thanks TD
  8. Hey, it's got Economy 7 Heating: it must be worth £165K! TD
  9. The FT, not know for great hyperbole, is increasingly bearish on this. That can only add to the downward spiral of sentiment. TD
  10. I think you are thinking of SachsenLB.. this story broke over the weekend. TD
  11. Yes, but that's the totally terrifying point! People don't turn out because they don't want to vote for the current shysters, but see no viable alternative... after all, who would you vote for in October? I wouldn't dream of voting for Brown, but can't seriously support the opposition either - we have no viable, electable alternative: a sad and shocking truth is our poverty of intelligent, astute, honest politictians. An alternative is to turn out but spoil the voting slip, however this doesn't actually achieve anything - what we want to avoid is GB winning a mandate for another four years BY DEFAUT. (On the other hand, do we actually want him there to pick up his own appalling mess?) TD
  12. I suspect that is not representative of your average fireman, teacher or nurse! As always the 'average' is hugely distorted by the merchant bankers (and yes that was rhyming-slang!) with their significant bonuses. But I think Fancypants has hit the nail on the head - it is truly bizarre that the media is choosing to 'interpret' these figures in such a negative light and especially Bloomberg... sentiment really is everything. (BTW Odd to see Miles Shipside too not putting a particularly positive spin on the story - what's going on?) TD
  13. I thought it was significant - the rising total mortgage lending is oft quoted alone to give the impression things are still going upward in the market, but I think this gives some small indication that the tide may have turned. TD
  14. Nice to see 'average' prices slipped - now surely everyone on an 'average' salary can afford one! TD
  15. Here's a scenario: two professionals, early 40s, both with pensions. In light of what's going on now on the SM, and with 20+ years to go, should they move pension funds out of SM or, in light of the perceived 18 year cycle take a long view and leave well alone. If you advise moving the pensions, into what should they move to best protect and accumulate? I'm interested to know what you would do with yours... TD
  16. Sorry Yogi, can't agree with that one... yes they were poor saps, and yes they were conned by the lenders however it is the prudent who didn't indulge in holidays, home makeovers, massive mortgages and new cars in the drive who end up underwriting the 'poor saps' who did: the saps get to have their cake and eat it, and the prudent loose whichever way they play it! This may be the poor sap's opportunity to learn about cause and effect. I know life's not fair, but it is doubly unfair to forgo the luxuries whilst paying for some other feckless bugger to enjoy them! TD
  17. You are, of course, absolutely right - there are many who are simply too naive to deal with their finances in the current climate and, as a society, we have swung away from the debt=shame mantra of previous generations. This, despite being uncomfortable and at times taken to absurd and cruel extremes, did protect many for getting into financial trouble and so served a purpose, as indeed it does today in Italy where it is cuturally unacceptable to service personal debt. I suspect that societally we are at the extreme end of a pendulum swing and the balance will start to swing back. There is currently tremendous pressure to conform to a certain socio-economic norm and those who don't manage to measure up are seen as feckless failures... I suspect that the a significant number of <50 year old adults (that includes me BTW) have no real understanding of personal debt or of compound interest. Much of the problem, I would propose, is media driven - it's all about status and celebrity, inherently superficial; our society has come, in large measure, to evaluate the worth of a human being by their ability to measure up to a celebrity scale, rather than any understanding of intrinsic worth. My kids (here comes the 'kids of today' spiel ) are aware of consumer goods because their friends have them: the phone, the media player, the clothes - it's all in the advertising and many adults today are like kids in that they appear unable to filter the information bombarding them and form an independent, informed opinion, rather than committing financial suicide to keep up with appearances. I'm not hoping for a HPC alone - I'd like to see a socio-economic change significant enough to move us well away from Thatcher's egocentric selfish 'me, me, me' culture and back to something societally cohesive. I suspect though that we may have gone too far. TD Edit: Just popped back in to put my soap-box away
  18. Some of them have grown up and are in prison, some have grown up and spawned the next gen of social wasters and some are dead (lifestyle consequence)... I hope that a few managed to break the cycle and get out of it. You are hugely mistaken though in surmising that there are no longer 'no go' zones in Britain... as the press this week has shown! There are still no go areas, and there are perfectly decent areas where you can be kicked to death for challenging antisocial behaviour - hardly the NuLab nirvana you refer to. TD
  19. Hunt was not lucky, just astute enough to see what is coming and get out with near perfect timing! His move is a warning to all bulls out there - an uber-bull heads for the hills (with stuffed pockets)! TD
  20. What fab news, Tuffers. Very many congrats to you and Mrs Tuffers. Obligatory info includes weight, colour (pink or blue) and whether it looks most like Mr or Mrs Tuffers. (although my first one looked like Yoda until he was two !). Congratulations again! Well done! TD
  21. 64K on cards... WTF!! How the hell do you sleep at night (on holiday) with that in the background? On the other hand, what numpty banker agreed their credit limits? How stupid could the bank be to even begin to think these people could keep up the payments. There is something highly unethical about letting stupid people get into this position... do you remember the guy a couple of years ago who was in the press for killing himself after running up 100k in debt: the same questions were asked then but people have such short memories. Are there any winners in this situation? TD
  22. Yogi, this is a perennial debate on here - whether spelling and grammer matter, whether those who care about spag are fascists, whether those who do not are thick - but this is the first time I have seen anyone draw a parallel between posting a quick message and completing a job application: many on here have valid points to make but, whether in haste or in ignorance, make typos. I'm not convinced that slating a new member is an appropriate response, but perhaps I should ask the interview panel...? BTW, IMOSCAR, welcome to the site... as another has mentioned, your house is worth what a buyer will pay for it; it is almost certainly not worth what an estate agent will tell you. There are (again as mentioned) a number of useful resources that you can access through this site that give information about actual selling, as opposed to asking, prices for properties in your area. Personally, I suspect that in a relatively short time you will be pleased that you unloaded your house when you did. Have you had a look at propertysnake yet? This site shows properties in your locale that have recently dropped their prices (although unfortunately they have legal probs right now and are showing far fewer properties than they were able to a few weeks back). TD
  23. Tell your Dad just to call the police... you can wind up dead doing what he did these days!
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