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House Price Crash Forum


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About DerekD

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    HPC Newbie
  1. Not so much if the pound is also relatively weak. I figure the dollar will do better against the Yen than the pound,will over the next 24 months You could go with a GBP hedged fund if you really wanted to, but the options to retail investors are quite limited. Spreadbetting may be an option, but i've vowed never to enter that game!
  2. Oh contraire rodders. A falling pound & Yen should be good for my (non hedged) Jap funds
  3. Thanks Guys - i'll have a look at Yorkshire
  4. Does anyone know if this is possible...? Basically we are looking to buy a place (cash purchase) but it would wipe out our savings completely. As i'm a contract worker, i need to have a bit of a cushion in place just in case i'm out of work for a while in the near future What i'd like is an offset type of mortgage where we can actually start at zero balance but have an agreement to dip into a negative balance (lets say 20k max limit) for a few years, should the need ever arise. Its only a "just in case" facility. I assume the bank would charge some sort of arrangement fee for this. But what im trying to avoid is taking out a mortgage straight away & paying the interest on it (given that its something i'll hopefully never need). There's a lot of knowledge on this site, hence why i came here! Thanks in advance.
  5. The term bull-trap in relation to this HPC conveys a confusing message. Sales arent picking up because people think houses have bottomed out. Its because they have been sitting on the sidelines for 18 months but due to personal circumstances NEED to move NOW. Maybe they have just moved into the area. have become parents, dont like renting, have a bit of cash. Whatever. The low level of transactions in 2008 means that some idiot EAs will think they have turned the corner. The most frustrating thing is that any uptick in the house price indices will fuel vendor denial. So yes, lets get used to the idea that this HPC will play out over a longer time period than 12 to 24 months. Think 10 years.
  6. Lloyds banking Group are continuing their offshorng to India right now. Doesnt seem quite right given the taxpayer funded bailout.
  7. wouldnt it have been better for them to write off more to avoid paying tax?
  8. lloyds banking group are continuing their IT offshoring policies (to India) despite the taxpayer bailout. really ****ing disgusting
  9. hopefully someone will be able to back this up but... my understanding is that even if GBP goes the same way as the krona, internally (i.e. within UK) your cash is not 'at risk' as such. YOu are only losing wealth comparatively versus the rest of the world. I think the original poster thinks being in cash with a full on 'icelandic bust' means his savings would be wiped out. But they wont. so long as you fall within compensation scheme limits or have money under government sponsored banks that is... please correct me if this is total horseshi*
  10. i am in a quandary myself. Had the house on the market 18months. Finally sold to a BTL guy at about 20% off peak. I could rent back my own property, but also we have had an offer accepted on a larger house again about 20% off peak. Need the space big time, & have a large inheritance sum, meaning we could pay off the larger house without the need for a motgage. I am in a lucky financial situation i know, but at the same time i am very bearish and expecting another 30% fall from peak in prices. We are also rather picky about location, and have rarely seen a house we are interested in at a decent price (compared to others on the market). Finally i am kind of worried about having large sums in the bank, and what might happen if the current crisis takes another turn for the worse. If things go ti*s up, then 'real' things (houses/gold etc) would be better than fiat paper. Additionally governemnnts are hell bent on inflating the debt away. Whether they can or not is another matter, if you take Japan as an example, the answer is no. However, this feels different to Japan cos the crisis is so widespread & not confined to just a few countries. what to do???!!! i change my mind every 4 hours
  11. if this really does blow up further - wouldnt it be better to own a large house (property rights) than be sitting on a huge STR fund in worthless pieces of paper?
  12. are there any lessons to be learned from the last 20years in Japan? I ask from a position of interest but ignorance
  13. agreed. i would be happy to STR if we get a 'good' price, but i cant see the point in leading the pack with a big reduction, given the hassle involved in moving/renting/moving again at a later date.
  14. spot on noodle. we're tryng to sell now. but im not just going to put the price down 15/20% because other people arent doing the same. im happy to sit & wait until everything drops, which would be to our benefit (moving up from smallish house). it will be a long drawn out process. the 1st drops will come from BTL and those who have to move (i.e. moving out of town etc).
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