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House Price Crash Forum

Fairies Wear Boots

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Everything posted by Fairies Wear Boots

  1. It's simple. They have shed loads houses for sale, and we have a bit of a housing crisis going on in parts of the country. The parts where there doesn't seem to be much of a housing crisis, are dropping in price and places like London prices are managing to rise slightly. No vast number of repos and forced sales, no massive falls.
  2. I think Ruth Lea knows what she is talking about. I want her to get run over by a double decker bus, but you can't fault what she is saying. QE has saved the property market. Hallelujah! I'll paraphrase her basic premise, QE might be fcking over old peoples pensions and yes it's saving the over stretched borrowers, but hey can you imagine what would have happened if we hadn't of done it? The housing market would have crashed in spectacular style. (and I guess all that goes with that, like our banks being even more insolvent than they already are). Don't we fking know it luv. Unfortunately though, our housing market crashing is something I would love to happen. And she should be shot for suggesting the pitiful amounts of interest I get on my savings, and the damage to pensioners annuities is acceptable.
  3. Krusty is as thick as pig sh*t. In a debate about rich people pricing locals out she mentions that the place she bought and renovated in the country hadn't been lived in for 33 years. So that's the solution, will ALL rich townies moving to the country please make sure you buy properties that haven't been lived in for thirty years. Not only will you stop pricing locals out, you will provide jobs for local tradesmen too.
  4. That jokers pension went from 1100 a month to 600. How come this isn't happening to lots of people? If it is I would have expected much more outrage. I wish when the QE is good woman stated that it has 'saved our housing market', that someone had pointed out that it's turned it into a stagnant mess. Rather than a good old fashion crash from which we can have recovery.
  5. I feel you are sort of right in that facebook does try and move with the times. Though whether it will be able to do so is another matter. Who knows what the next 'big thing' will look like and who will provide it. I notice that approximately six months ago Zuckerberg announced that email was dead. Errm yeah. You could have said... Saying that Facebook will barely be around in ten year's time is like saying that people will become bored of posting stuff on myspace.
  6. / That's mainly who the last 300 million to join up were. When I heard how much they valued the company at, I nearly laughed myself silly!
  7. Gross earnings increased 10% from 2007? I thought wage inflation was approx 1 percent per year.
  8. So is there lot's of Dross on the market that is overpriced and has been on for ages? I'm in 'won't go down London' and I thought things were stagnant by how long they stay on Rightmove using Property Bee, but then I don't look at ones under offer. Maybe I should.
  9. /So the government pays private enterprise to house the unemployed, low paid and disabled/sick and it ends up costing the taxpayer absolutely shedloads. Who ever would have thought it? That's really surprised me. I might have to go have a lie down.
  10. / Is that 22 and 28 percent overvaluation based on interest rates? i.e. if they rose, then properties would be more overvalued? It's an asset bubble. Doesn't seem to be going down that much in some places and this ZIRP policy seems to be holding them up well. Weren't all the other crashes in times of sky rocketing inflation rates? I don't see how you can look at other crashes and be confident that's going to happen this time.
  11. How come if they admit to inflationary overshoot, did they launch QEII? The other question I have from reading your post is why do we need rampant building for it to be a bubble? To me, half of the idea of this bubble is they aren't making any more land. And with the planning laws as they are, they are quite right. Also, we had building companies paying shed loads for anything that you could build on, and an army of people, backed up by T.V. programs who would buy a three bed, create an extra room in the loft and charge 100K extra for a 4 bed, and those who chopped nice big houses into "units". Are you saying that if supply goes down, then price rises aren't "a bubble" they're a product of the supply/demand equilibrium?
  12. BeJesus. I've been sceptical of anymore decent nominal falls happening (in London). But if all you bears keep buying, it looks like it'll happen quite soon!
  13. How 'bout base rate whacked down to near zero means high cost of houses worth it. BTL is apparently making a come back. A massive fall in asset value (eventually). When is this going to materialize?
  14. I sort of agree with the original poster. Though I don't see why if the average house is 160K today why they'd be 180K in 2015. My guess would be about 160K. But what do I know? Maybe all this Austerity and Euro debt crisis will bubble over and no one will be able to get a loan.
  15. Yep. The agreement is that the banks take the hit. I suspect that's because the insurance companies aren't big enough to handle the loss. But that's just my guess. You could read the Big FAT Greek thread for more info. All 156 pages!
  16. At the start of this thread there were calls for our front page graph to be linked to wage inflation, if that happened the "crash" wouldn't look as good, as falls have been less when measured against wages. It's only rampant inflation that is making the "crash" look good. I thought house prices in Japan went absolutely sky high in a "not making any more land" bubble. Some problem with the economy ensued, base rate was cut in 1993 to below 2 percent and has remained there since. No rampant inflation ensued and IIRC someone on here saying house prices have been falling for 17 years.
  17. They can rent something given up by the benefit claimants that are moving out of London!
  18. So why is the restructuring being done in a way that the insurance won't be trigered? I guess it's because the banks will be able to take it, but the insurers wouldn't. Then that makes me wonder why the banks are bitching about it.
  19. Is it?! I always thought labours policy from the beggining of crisis was, spend hand over fist, get to election, promise people it's not as bad as conservatives make out, conservatives take over, labour spend next five years saying tories cutting too hard and too deep, get re-elected. Given the conservatives didn't even win the election, labours policy of "it's not as bad as all that" worked a treat. If they had a leader that didn't look like a petulant school kid, I thought they'd walk the next election.
  20. Isn't that because the general population can do the maths (use a mortgage calculator), work out how much a house will cost them with the base rate where it is, and then be annoyed that a bank won't lend them the amount, because they can afford the repayments? I think 6 Higher Mortgage rates will be good for downward pressure. Though this seems a bit weird with them not lifting the base rate. This means the banks will still be giving out the same stingy interest rates to savers and charging borrowers even more. How does that work? Or does it mean they'll be offering better rates for our money? And the base rate becomes irrelevant? Madness! The economic outlook has looked dire and only going to get worse for four years, (except for people with rose tinted bull glasses on) and yet London has rallied. So I'll keep me fingers crossed for falls!
  21. Really? They can't just ignore central policy can they? Anyway, wouldn't labour run councils eagerly enforce the law, and then blame the tories?
  22. If property developers got their way and loads of properties are built, I would imagine prices would fall. I guess it won't be done on a scale that will make that much of a difference though unfortunately.
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