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Everything posted by Woot

  1. Bullsh*t. In 89-90 when the shit hit the fan people stampeded for the exits - the only ones who sat tight were those who just couldn't shift their property for love nor money: classic example was an old friend who bought at 49K, put the property on the market and, when it hit 19K, took it off again and decided to wait it out. Sorry, but life does not reflect your theory. TD Edit to say: apologies 'NoIdea' - this came across more harshly than intended: I should have scattered smilies about!!
  2. It'll be particularly interesting to track the volumes on the property web sites now. RB, how are your marker sites doing - I know you keep track of the volumes in a couple of areas near you? TD
  3. Just love it! Do go to Bloomberg and read the whole - lots of men in suits eating hats!! TD
  4. No suprise there - a similar IB (can't name names) made their single greatest loss ever on the US markets two weeks ago (Allegedly). It's all unwinding, the question is just 'how long'. TD
  5. In the IBs it is standard practice for staff of Director level and above to have a proportion of their bonus paid in company shares. TD
  6. Interesting article from Reuters. That's the first time I've seen someone (not on this forum) use the 'D' word about this particular dip. TD
  7. And was this an agreed strategy with the US - Bush came out today saying they wouldn't bail out homeowners... Are the gov playing poodle again? (Sorry, silly me - I forgot the BOE is independent of the Gov!! ) TD
  8. Where's Dr Bubb? I'd like to hear his take on this... TD
  9. BTL as an investment market (with homes being seen as cash-cows rather than shelter) pushes the prices up: however, many landlords are now getting out of the market (I know several first-hand) because the published returns have failed to materialise; ie rental yields are not what they expected. Some posters state that rents are high in the UK in comparison with other European countries however it is not possible to make an equivalent comparison: in other European countries eg Germany, property renting is the norm and property ownership is unusual: a home is seen as a right and a need, not a cash-point. Therefore most property is owned by the state - it is not part of an investment market. Further, there are huge numbers of vacant properties in the UK that are not being made available for a range of reasons. From Hansard 20 Oct 2005 The Empty Homes Agency states It is also too simplistic to say that vacant properties cannot be used because they are not in 'the right' areas: many previously ghastly inner city areas have been overhauled and rendered saleable through investment (see London's Docklands, parts of Birmingham and Manchester, Glasgow - as renovated in it's European City of Culture year). In short, the original poster's arguments do not appear to stack up: more evidence please, Cells. TD
  10. On Sunday a close relative with senior seat in major investment bank (can't be any more indiscrete than that) advised me to pull any investment I have out of the stock market now: he belives it's going to get very bad, the unravelling process has started and is unstoppable, and many will be financially devastated. TD
  11. Smelly, I've been away for a couple of weeks and so missed I your epiphany... I've just opened the post and seen your new-found bull status and icon. Have to say, I'm quite taken aback and am interested to know what the catalyst has been to bring about this change in your stance? Has this been a long while coming, or did something trigger a sudden changed in perspective? Incidentally, whilst I was away I spent some time with an old friend who has an integral senior role with a major investment bank and has been working the markets for almost 20 years (I can't be more specific for the sake of discretion); he was adamant that we cannot fail to see the effects of the US property markets mirrored here: actually he found the idea that one might expect to miss out on similar falls ludicrous and naive in the extreme because of the synergies of a global market. He mentioned one major european investment bank took its biggest ever hit on Friday due to the us sub-prime fall out. In this climate I'm interested to see your change; hope all is well with you. TD
  12. Excellent article, thank you... I particularly enjoyed this quote: Wise man, that Fool! TD
  13. And... how you can possibly have the temerity to come on this board and abuse its members is beyond me: the blame lies with the greedy parasites like the relative you mentioned in the thread I quote below. How interesting that he, and his kind, have sucked the lifeblood out of the property market and are now walking away from the carcass - what a gratuitous lack of social responsibility; what disgusting greed. However, it cheers me up to think that if he really gave a toss about his son-in-law he would have given you the heads up to get out of the market when he began to sell up!. How does it feel to have been screwed over too? TD
  14. Don't you just love hindsight! To whom exactly is it "worth more than that"? If it really is, as you say worth so much more than the EA said (although I find that hard to believe, knowing how prone EAs are to overvaluation) then why not put it to auction and sell it quickly (before the slump really sets in) for the sum it's really worth. Put your money where your mouth is! Go on, I dare you... TD BTW You've made my day - I love to see a GB get shafted for a change instead of the poor old FTBs!
  15. The few people I know who are involved in buy-to-let have all been losing money on their 'investment' for some months and indeed are trying to off-load their properties now. They cite significant problems with actually letting properties out too - it is a renter's market and people can afford to shop around. These people all bought in, having seen Sarah Beeney etc on the property porn progs, and thought they could make a killing: turns out one is losing £300ppm on each of her properties. If you never break even, you could still choose to look on it as a long term investment, in the hope that the market will continue upwards and you will find someone to buy from you, providing you with equity; only you can decide whether that is a risk you want to take. There are many on here who can offer far more sage advice that I, however I suspect you answered your own question: the difference between you and other BTLers is that you have "done much cost analysis" - many just believed the hype and didn't do the sums. TD
  16. I'm afraid that completely misses the point - he cites his example in Ireland based on his research on a range of nearly 40 countries and economies since the early 1970s; his research seems pretty robust and global, not local. TD
  17. Maybe she'll do a 'Hilary Clinton' - come back in her own right after a couple of terms. TD
  18. Interesting stuff - it seems his research is based on a range of countries and economies: evidently he doesn't believe the line about US and other economic slow-downs having no bearing on us. Your thoughts? TD
  19. A friend who works for a mid-sized multi-national software house providing IT systems supporting financial services (and we are talking some major city banks) has just jumped ship: he feels the need to move to a larger firm for the forseable future! He believes the signs from inside the industry show that even relatively large players are going to fall. TD
  20. I suspect most are not really being bitchy, but are simply stunned by the absurdity of it. I mean, really, have a look at what else you can buy nearby for that price. To be frank, the kitchen is a non-issue because the external photos announce that this is not £340k's worth of property - not being bitchy, just stating the obvious - and no amount of laminate flooring can disguise a rather ordinary EOT. TD
  21. I thought you guys had come up with so many helpful comments that I'd post a link to this thread on their site... maybe they can find help here! TD
  22. Have a look here http://ononemap.com/ for 3 bed properties in the Brighton area - I keyed in £339K and 3+ bedrooms. The results make this hovel look about 100k overpriced! And in Swabridgeworth you can get this - rather nicer 3 bed semi - for £269K or this for £277. They've got to be having a laugh - either they're blinded by greed or they're totally certifiable! TD
  23. To reinforce your point, the front page of PropertySnake lists four London borough properties with 30%+ drops today. I thought they said prices in London couldn't fall!! TD
  24. and Apologies if this has already been posted. I think a depression moving in from the west is forecast... TD
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