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House Price Crash Forum

ReggiePerrin

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Everything posted by ReggiePerrin

  1. Unless you sell you haven't lost anything. My company has lost 80% of it's share price in the last year, happily at the moment I'm buying 5 times as many shares each month in the company share programme than compared to this time last year. As I can't sell them for 5 years, it's a tax thing, there's a good chance they'll have recovered some, if not most, of their previous value. If you have faith in BT maybe now is the time to buy more of their shares?
  2. I have no problem talking about house prices, but a discussion on housing as an investment, that's something else. The bubble we just went through should never have happened, it was a mistake caused by the incompentence/greed of banks, regulators, Government. The recovery is going to take years, if not decades. You've been talking about 12%'ish yields on a highly leveraged investment, which is extremely difficult to liquidate should/when things go bad. On an investment risk scale I say that's about a 9. Not to mention you're talking about putting all your eggs in one basket, a building made out of bricks and mortar. Apart from paint, what value can you add to it, how can it grow like a proper business so that it increases in value? Decking? Incidently, I wouldn't be at all surprised if everyone who bought into BTL over the last few years are very "smart" people, the trouble is you need to be a fricking genius to sell at the top
  3. A curious thread for HPC, wouldn't it better if this was on singingpig or one of the other sites popular with BTL'ers, for example citizens advice? Forgetting yields, are people assuming that when this bust is over house prices will rise again above wage inflation? Can anyone name one other bubble that burst and then reinflated again? Dot com stocks are still floundering 8 years after the event, Tulip bulbs are way down in price and that bubble was years ago, the south seas company never recovered...
  4. You have to feel for the poor bloke, his business is going down the pan, the house is in negative equity, the cheap tabacco he bought turns out to be fake, and he gets nicked by HMRC.
  5. I agree, but Bulls don't appear to have much conviction in their beliefs. Throughout the HPI madness the bears stuck to the message, "Houses are overprices", however at the first sign of a HPC the bulls disappear faster than a Nigerian mortgage applicant?
  6. Nice work Tommyboy, I thoroughly enjoy watching the carnage in real-time
  7. Hi ReadytoBuy You only buy when it's right for you, not when numpties like us say it's a good time to buy (and especially if the idiots on TV say it's a good time to buy). Do the math and work out whether the mortgage is cheaper than your rent, minus interest from your deposit ... is it really affordable? If it's more than 3x your income, it may be best to wait. Also don't forget to factor in a few increases in interest rates. There's no harm either in making a stupid offer, if they don't bite, wait a few months and make the same offer again or slightly better (They may forget who you are, but not the offer you made )... This worked for Mrs Perrin and me in the last housing crash. If you do buy - stay away from Rightmove, HPC, property programmes, this government (this last one may be difficult to do), and enjoy life. edit: typo
  8. Gordon Brown is a great prime minister, who has a brilliant and intuitative understanding of economics.... hmmm, it looks like the swear filter is well and truly buggered
  9. RB perfectly summed up GB's problem the other day; apparently he's suffering from aspargus syndrome, which is a form of autism. link
  10. I'm really enjoying the indignation of some of the posters who take offence to the slurs being cast on public sector workers. I work for the private sector for a major outsourcer in IT service delivery. About 12 months ago I was posted to a LGA (I figured it was a good place to hide for a year or two while the recession burns itself out); anyway, the council has a 10mb/s Internet pipe, from midday on all Internet services run like a dog: the reason? Looking at the proxy server logs the workers 'work' until midday then spend the afternoon browsing the web. Users spending 5 hrs a day on the web is not unusual. The waste is unbelievable, I read the internal job vacancies and for the life of me I can't work out what half the job titles mean??? If it were the private sector heads would roll. The hardest part of the job is not laughing in meetings when some LG manager spouts rubbish about the need to have some technology or other, and when asked the simple question what benefit it will bring to the business is unable to answer. So for those of you who take offence to people being upset by comments here, you do bring it on yourself. Yes there are some useful positions that benefit society, but for every useful post there are 5-10 pen pushers who should be signing on at the job centre. When the public sector was paid less than the private sector it was funny, now it's ridiculous and higly insulting that people in the private sector work harder [and they do], face uncertainty in their future, and retire with less pension. edit: Typo caused by high blood pressure
  11. Agreed: Our LL is Grainger, a company rather than an individual. I've heard bad things about them in the press but our experience is fine. So far we've had 3 hobs, and the windows are painted every year. Mrs Perrin and me had a discussion the other day about whether we should bother buying a house, our [growing] deposit money will support us for a while if either of us lose our jobs, and did we really want the hassle of home ownership. Plus the children are getting older so we may buy something smaller near retirement when they've gone .. in Portugal or somewhere warm.
  12. Because in order to regulate you need regulations... and there ain't none, because the Government scrapped them all
  13. I applaude your knowledge, he does seem to fit most of the symptoms. link What a mess, he's absolutely the wrong person to be leading us at this time.
  14. GB had the same problem with the abolition of the 10% tax rate. He was absolutely convinced that no one was going to suffer as a result of the change to the tax bands, it took a mutiny by labour MPs to finally convince him there was a problem. The guy is totally convinced that there is nothing wrong with the level of debt in this country, or that houseprices are too high. This guy really does believe this is all the fault of the Americans. We accept that politicians lie, but we know secretly they understand the reality of the problem. GB is far more dangerous, because he fervently believes what he says, and everyone else is wrong, even if it's backed with hard facts.... Basically we're buggered
  15. ehh... you may have missed the recent news, it's gone spectacularly belly up already? and I think I was IN at the time; I'm married with kids, so going OUT is rare these days
  16. A wild guess, but maybe they're waiting to see which way the Asian markets go before making a call on whether to suspend trading tomorrow?
  17. Profit? Houses are homes, not investment vehicles. This is exactly what caused this bubble in the first place, people who thought that they could make money out of a pile of bricks and mortar. How can something that once built, and only needs painting and redecorating every so often, increase magically in value above wage inflation? This isn't a dig at you barrabus, if you made money in this madness, then good for you. But I hope when this mess is over people will look at houses as a place to live, and the last thing anyone should invest good money in to make a profit.
  18. I think when is immaterial, it's the fact that a website of 'amateurs' (In terms of we don't get paid to post here) made it into a list of people who saw the crash coming is worrying, frightening, and more than a little depressing. Where the heck were the so called financial experts?
  19. Not sure if this has been posted already today, my apologise if it has, but HPC made it in at no 7 in this Times article. Link
  20. With all this confusion no wonder the stockmarket muppets have lost confidence. The Government should introduce longer weekends, it'll give everyone longer to come up with a cunning plan.
  21. About 10-15% so far, but not worried by it. I'm still contributing and I've got a couple of decades to go before retirement. On the brightside my monthly contributions buy far more units than at the beginning of the year.
  22. Cool, we have a depression and then we go to war against Iceland. It does make a nice change; it was getting a bit boring fighting Germany every time the economy went south. GB is desperate to point the finger of blame for this mess at someone else ... looks like Iceland has come to his rescue.
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