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House Price Crash Forum

joey

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About joey

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  1. I am BULLISH about the following Unemployment going higher and higher Interest Rates Going Up More Devaluation Of Sterling More Reposessions I think with impending and worry of Unemployment the last thing on people's mind is buying a house that will likely be reposessed in a year or so. Apols for being Doom and Gloom with the impending Job Cuts in the Public Sector e.g Civil Service due to the Labour incompetence of over spending and mismanagement of the Economy since 1997 . The saying goes You ain't seen nothing yet. We are a consumer economy not a producer . We are not consuming any more so its downhill from here. Rents will have to come down as nobody can afford them now . Just day to day surviving .
  2. joey

    Property Guru Calls The Turn

    Job Insecurity , Unemployment, Prices Going Up, Inflation going up . Boom cancelled indefinetely . BUST BUST BUST
  3. Isn't it obvious 1) Interest Rates (Can't go any lower) UP 2) Taxes UP (The Government has no cash reserves after bailing out the banks ) 3) Unemployment UP (The biggest ever Public Sector Job Cuts in History ) 4) Petrol UP Four UPs you are through to the next round not including UK Sterling is TOAST. As stated in many earlier posts you can only put so many band aids on . House Recovery ON HOLD whilst people worry if they have a future and a job and also can hold onto their home if they have one.
  4. Long term fixed rates you have to read the small print as if you remortgage / sell up etc prior to the expiration of the the fixed rate expiring there are huge penalty costs the further you are away from expiration . Always when getting a fixed rate make sure you ask the question what are the costs if I remortgage / sell up prior to the fixed rate expiring .
  5. Its Dog Eat Dog, everyone for themselves. Executives don't care how the company performs or if it crashes as long as they get their huge payout and lifetime pension . There always the taxpayer to pick up the tab and peanuts left for the lifetime employees . Its money for jam for alot of these "jobs for the boys" executives, just skim off a load of dosh put it in an untouchable trust.
  6. The classic statement during the program was that its not about supply and demand regards physical housing but supply and demand regards available credit. The credit tap will be off for forseable years we won't see 125% loans or 7 x earnings loans for at least another generation. With all time low interest rates the only way is up (for interest rates).
  7. The amazing thing is these properties had gone up 10 % - 20 % these same people would be bragging what financial geniuses they were. Like the Share Market any investment they can go and down . Possibly in 20 - 25 years they may get what they paid for them . In effect they created their own bubble last one in carries the can the famous saying goes.
  8. There is no wrong or right time to buy a house as long as you have done due diligence and research. Even if you have no intention of buying at present look at houses and research, you will get a feel of what a house is actually worth and try and get a discount on it . Watch it if its 3 , 6 , 9 or a year on the market, and note the driops in price . The mistake is to suddenly dive in with no due diligence and research. The law of averages look at a 100 houses, put an offer in for 3 and buy 1. Note the 1 you want at the right price. The estate agant may be your friend or enemy, don't be frightened to ask what the owner is looking for . I have found on average its at least 10% or more below the asking price and then with due diligence and research discount further from that. Presently with unemployment increasing, job insecurity, huge forcasted governmnet job losses, investors out of the market there will be no crazy price hikes for years either stability or price drops. And not forgetting interest rates can only go up now
  9. The usual story Labour has deserted it grass roots supporters. During the last 10 years the Rich have got Super and mega Rich The Poor have got got totally broke and desolate . Its the usual kick in the teeth for the hard working tax payer to see small companies going broke, jobs being lost with no help from the banks but the bankers living the life of luxury with the taxpayer and poor of this country bailouts, why not buy a Lear Jet and a 15th swimming pool on million pound bonuses coutesy of the muggins taxpayers of this country. Tony Blair and Gordon Brown will be well remembered to turning this country back to pre Industrial Revolution Standards .
  10. Not only affordability also the question how many people will have a job by then as well . Remember the huge Council and Public Sector job losses due in the next few years. Not forgetting we have no room to manoevre on interest rates, they will be likely be higher than they are now . We won't return to ridiculous south sea bubble type lending we saw during the last boom for another couple of generations . My prediction on house prices falling or stagnant for next 15 to 20 years
  11. Gordon Brown, his Cabinet, and all the other MPs don't have to worry as all their pensions are Gold Plated e.g guaranteed and funded by the taxpayer. Whatever pitfalls, irregularities regards pensions they don't have to worry about it as it doesn't affect them, hence the irregularities during Nulabour's term and joe average's pension being decimated . If they had similar pensions to the majority of the population then they may show interest and concern. Just look at all the bank executives payouts, pensions it just shows that this country is an absolute joke. You can screw up an economy, a bank and retire on ridiculous gold plated pensions whilst the general public goes broke and bancrupt. The Government will just put more sneaky taxes on petrol, 4 p in the last month ( 2p last budget and 2 p that was deferred), workplace car parking taxes. The young with their student loans will be taxed more to support Gordon Brown, his colleagues, the bailed out bank executives in champagne style retirement.
  12. joey

    Half Of Uk 'have No Pension Pot'

    What do you expect when the people at the top making decisions have comfortable final salary pension schemes, so hence the pension fiasco at the moment. In effect all the people with no pensions will be paying more in taxes supporting these decision makers in their comfortabe retirement.
  13. Questions for BBC and ITV over Daniel Hannan speech coverage The BBC and ITV are facing questions over their failure to screen an MEP's blistering public attack on Gordon Brown which has become an internet sensation. http://www.telegraph.co.uk/news/newstopics...h-coverage.html
  14. Amazing 3 minute summary of what actually what is going on minus the Nu Labour Spin. Applause.
  15. Apols Executive Bankers bashing is flavour of the month. I wouldn't be satisfied until there is public floggings then followed by beheadings at the guiltone. The French had the right idea in 1798 they got rid of their wasteful establishment.
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