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House Price Crash Forum

ronnie2007

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About ronnie2007

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  1. Offer to rent a place your missus really likes. Try and get a multi year lease and let her decorate it to her own tastes. Really, women can be so unreasonable. I'd say 90% of buying decisions of couples are made by the "fairer"sex. :angry:
  2. As a bear here in Ireland I cant see how a major crash will occur in UK with such tight supply in market. IF base rates go higher than 6%(markets are'nt predicting them to reach or exceed these levels on average over next one,two five or ten years) then the market may fall a bit but with tight supply and immigrants still flooding into UK I can't see a major correction anytime soon. Sentiment can change but the positive sentiment towards property is so strong in UK despite having a crash a little over a decade ago. Does anyone have details of rent rises versus property prices over last decade? If rents have risen to similar extent as property then this indicates undersupply in market as a whole. The simple fact is that UK is not building enough property for its high density population and once unemployment is relatively low and base rates don't exceed 6% a crash wont happen anytime soon.
  3. Does anyone have accurate figures on the supply of property in UK?? What amount of properties are needed each year to house the growing population?? How many properties per thousand is there and how much more is needed? I heard UK only builds 200k units a year when in Ireland we are building nearly 100k units and only have a population of 1/15th of the UK's. Untill greater supply of properties is built then rents and house prices will remain high. The influx of migrants to UK is not helping and is straining the country's infrastructure( housing, public services like NHS schools etc). Why have'nt UK builders built more properties during this boom? I can't see house prices in UK falling much unless supply is dramatically increased or unemployment rises and there is a recession. Interest rates alone may not tank the market.
  4. The western economies can adopt isolationist policies like trade barriers etc if things get tough. Currencies can change to reflect advantages/disadvantages for the western economies, if china becomes an economic superpower its currency would become much much stronger than it is now reducing its cost advantages. The fact is many western countries produce goods and services that are consumed around the world (germans are worlds leading exporter of industrial goods). Just because large scale industrial manufacturing is gone does'nt mean the end is nigh. Western economies score highest for productivity, innovation, global brands etc etc.
  5. Already the chinese are printing too much money(yuan) to keep its peg with the dollar, this is leading to high inflation rates within China which is pushing up the price of their goods or at least reducing their margins.
  6. And who will buy all the goods manufactured in the cheap east??? Sterling would collapse in value in the situation you predict and hence make the UK more competitive in export markets. China will hit a demographic time bomb and many other problems before they get large enough to "take over the world". http://www.sinomedia.net/eurobiz/v200610/economy0610.html
  7. The crude denominated in dollar explanation of america's foreign policy escapades is nonsense. Anyone selling oil in dollars can immediately change that via fx markets to euro and if some bourse switched to euro denomination the markets would reflect the dollar value via arbitrage. Countries choose to keep reserves of the dollar for numerous reasons. The americans are'nt holding a gun to their heads to keep the reserves, the dollar is the number one reserve currency and countries keep it to manipulate their own currencies in the future etc.
  8. If you don't have faith in fiat currency why not buy gold? Use your fiat currency to buy gold, ya see fiat currency aint so bad if you can easily convert it to gold. Once fiat currency can be exchanged for goods services and other stores of value/currencies and its inflation rate is'nt large then its grand.
  9. This is a common misconception. The Irish GDP per capita is very high but distorted by all the foreign multinationals who account for 90% of exports! The infrastructure of the country is decades behind most of UK and continental Europe, Uk and Europe have had centuries of economic growth whereas we here in Ireland have since leaving UK/commonwealth only really grown in last 15 years. The infrastructure of country adds much to its wealth. Also the net assets of every individual excluding principal private residences is lower than UK USA and major European countries. The wealth is based on nominal property prices and growth fueld mainly by construction and public sector spending growth. The economy is much weaker and unbalanced than most beleive. There will be a recession in next 5 years and we don't have our own currency/monetary control to stimulate the economy in such a downturn. There will be loads of Irish heading to the UK again in years to come if UK is'nt in economic trouble then too.
  10. Is inventory going up in London? The rental rise could be due to investors selling up. Or maybe there is just a severe shortage of properties in London.
  11. http://www.unison.ie/irish_independent/sto...;issue_id=15257 Ten million asking price drop in Dublin,house next door to Bono's. Irish businessman based in Chesire wants to get out asap. http://www.thepropertypin.com/forum/index.php
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