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House Price Crash Forum

lets get it right

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Everything posted by lets get it right

  1. You should do yourself a favour and ask the mods to ban you. Don't get me wrong, I like to read your posts but your 'number of posts' is way too high. At least take a couple of weeks off this site. On the whole, this place has a debilitating effect. I'm old - I'm much closer to the end of my life than the beginning - but I get the feeling you're young - looking to buy your first property. I wish I could say (and mean) 'Hang on in there, in a year or two you'll be able to buy cheaper' - I just don't believe it any more. No matter what the obsessives on here say. No matter how many charts are posted. Or facts delivered. Where I live houses have been way over-priced for the best part of 10 years. The oft predicted stagnation is here - but no real signs of any drops. If you can afford it, look for the best bargain you can get and buy. If you can't - I'm really sorry - my generation has a lot to answer for.
  2. Unless you are thinking of buying a house for 800k plus, you're in la-la land.
  3. Never thought I'd see the day when you gave up. We're having to do something because the landlord is selling up. Other rentals are just potty - a small 4 bed detached estate house seems to go for between £1450 and £1600 a month. Too rich for my blood. I've decided not to keep another landlord in the market by paying them a small fortune each year. Despite all the media reporting on rents going up, massive demand etc. - we've started telling rental agents to tell their landlords to stick their properties - unless they want to knock £400 off the rent. We're just beginning to get a couple of them come back with 'they won't drop £400, they'll consider £200'. In the meantime we've found a place to buy - it's a bit out of our area but youngest lad is only at school for another couple of years so we'll just have to do a bit of driving. I found out today we're paying exactly twice what it sold for last time around - in 1987.
  4. You are very cynical. It must be a depressing world you inhabit.
  5. In general terms, how do you make a living off the web?
  6. Seem to remember someone arguing with DOMMMMMM on some show or other. He started shouting 'I'm a property expert me!' when someone asked him what qualified him to comment on property. He's a 'property expert' no less. Say no more.
  7. LORD Sugar if you DON'T MIND! Touch your forelock in a respectful manner. What a world eh? I know the eegit's made a load of money, but it just goes to show you don't have to be clever to make money. Luck, capital and appetite for risk are what you need. And one in a thousand makes it big. And let's not forget his main business interest these days is property - commercial I believe. You know, the sort of property that has halved in price over the last few years. M'lord's a shrewd b'stard and no mistake.
  8. Yes, but you'll never convince a Labour party supporter of that. They are the party of fairness and equal opportunity. They are the party that tax the rich and give to the poor. The fact that they aren't is neither here nor there to a Labour party supporter. They are congenitally unable to face facts. Like the fact that every Labour government to date has ended up in economic disaster.
  9. What does the fact that prices are set at the margin have to do with the observation that there are not as many forced sellers now compared to the last property correction?
  10. Ye gods, looks like the grammar schools are needed like never before.
  11. Where does the 7 thousand million pounds come from that the bankers are going to get in bonuses. Who is generous enough to give them 7 thousand million pounds?
  12. The government is prepared to p!ss off a lot of people by removing child benefit for anyone paying higher rate tax which, apparently, will save £1 billion. Bankers are about to be paid £7 billion in bonuses. Hmmm. I'm getting a wee bit fed up with all this money bankers make. What the feck do they do to make it? I can't believe there is that much profit in running a bank, looking after depositors' money and lending it out. If they are making their money trading options, currencies, hedging and feck knows what else - what value do they add to anyone's lives apart from their own? Where does the money come from that they 'make'. Presumably it is either created out of thin air, by magic, or someone else loses it. A few weeks ago a figure was bandied about that 4 times the world's GDP is traded on currency exchanges every 2 weeks. Does this make sense to anyone? Surely one person wins, another loses - until, presumably, all the people who are no good at trading have given all their money to the people who are good at it. But, surely, nothing has been created?
  13. You'll find it if you poke around the various government web sites - I've seen it somewhere. Took 5 seconds in Google to find this ... Government spending figures
  14. Yeah but we're all in this together! I don't know about you but, although I agree with the general principle that there is too much difference in this country between what people earn 'at the top' and 'at the bottom' - they never seem to 'hit the top' they just hit middle income earners - like me. I sometimes feel I'm carrying 6 other people - I work hard and pay tax - but I get the feeling I am paying in on behalf of an army of workshy dossers or black economy tax dodgers or stinking rich tax avoiders. Now child benefit is gone I don't get anything back from the state - apart from NHS treatment. And even then I have to pay for eye tests, dental treatment, prescriptions etc. etc. - all things other people get free. It's a bit like a sort of extended parent role. Your hand is always going in your pocked to fetch your wallet out. I'm just waiting for my youngest to grow up and income tax thresholds to go up to 10k. My wife and I will then set our earnings to be 20k and the rest of ye can get fecked.
  15. And, out of your list of 8 reasons why people must sell, given that most people look for a house within a narrow geographical area (I'm looking in one, small town at the moment - won't consider anywhere else for logistical reasons - schools / work etc.) - maybe, if they're lucky, there are one or two forced sellers in their area. What are the chances that one of those forced sales is the house they are looking for? What's your evidence for your statement 'more part time jobs are the new paradigm making existing mortgages for many untenable'? Surely that's the whole point - the actions taken by Brown to stabilise the housing market worked and many existing mortgage holders are currently paying down their mortgages because their mortgage has gone down - a LOT! Again, it's the same argument. How many people in the area you are looking at are now working part time with 'untenable mortages'? One in a million?
  16. Indeed. It gets bloody cold in the winter without a 'home'.
  17. Interesting thread. Having laboured under the illusion that here in East Berkshire house prices were very high, suddenly they don't look so high - given the levels of employment and wages available, the good road links, easy access to London, good schools etc. House prices, overall, have been static here since 2003 so, as I say, compared to other parts of the country, seems almost sane here now.
  18. Ahhh, if only it didn't rain 24/7 and the whole year feels like winter.
  19. Given a notional, desirable rate of inflation of 2% (anything less risks deflation and no-one (in general terms) wants that), over 25 years 2% inflation equates to, for example, a 100k house inflating to £164k. So, buy a house with a 100k Interest only mortgage for 25 years, sell the house after 25 years - you've got 64k in your hand. Rent for the rest of your life. Rent a house for 25 years - you've got nothing in your hands - rent for the rest of your life. Which is a better deal? Depends how the rent stacks up against mortgage interest. Throw a bit of HPI above the 2% notional inflation into the deal and .... it's why so many people want to buy, not rent.
  20. Difficult to know what to say to that ... apart from unf u c kingbelieveable! And Grayson's delivery is perfect - and he's a Congressman. Will anyone listen to him? Will anything get done? You find yourself muttering 'it could only happen in America - land of the free!' - but is that true I wonder. Surely there has never been a more craven and corrupt society - in thrall to bankers and lawyers.
  21. This is very simple. Banks made a fortune ignoring capital ratios and lending into the property market. Inevitably, it imploded and we have a credit crunch. Banks need to rebuild capital and, having observed that they have fecked the economy, realise that a lot of businesses are going to go under - so they won't lend to them. Bankers are as rich as Croesus and don't give a feck about us, the economy or anything else. The ones who took millions in bonuses are already running boutique hotels in the West Country or some such nonsense. They will only lend into the residential mortgage market if they are convinced the money is safe. Hence the dearth of mortgages. The banking system needs to be heavily regulated and policed and a ruthless asset reclamation scheme should be launched to get the millions, sorry billions, back.
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