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Fairies Wear Boots

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Everything posted by Fairies Wear Boots

  1. Crashtastic! I see some of the tremendous bargains in places like California, Florida and Ireland, and wonder whether drops as juicy as that will come Londons way. House prices around here were more than double in 2007 than 2002, so here's hoping.
  2. At the start of summer 2007 I looked at a place in London for 340K, I thought it was a bit overpriced and lo and behold, it dropped to an asking price of 320K. I put an offer in, completely derisory and under 300K (estate agent all but refrained from laughing at me). And it sold pretty quickly afterwards and came up on land registry as having sold for 317K. I saw a house in same road, with same sized garden, and what looks to be exactly the same house layout, asking price 300K. My mate, a non HPCer commented today that I could probably get it for 270K. I've been paying 14K a year on rent for the last two years. Less in 2008 and 2009. And I would have only paid off so much capital as I would have had to service interest. So even in "last to go down London". I'm still well up on the deal. Hurrah! May the second leg of the crash start hitting max crash speed!
  3. It'd be sickening wouldn't it? If you weren't that clued up, and it appears even some quite smart people have paid vast sums for small boxes, you'd just feel sick everytime you looked at your mortgage payment and the sign advertising the unsold apartments. As she probably wrote the article though, when she wrote this, all sympathy went away and schadenfreude crept back in. ..."if I did decide to move, I would stand to make a massive loss on my investment." Investment. It's as if people are buying shares.
  4. That analogy is very wrong. He'd have to promise not to shag your sister, then watch while his next door neighbour shags your sister. Do you really need that spelt out for you? It's not very fair when you have two parties quite similar to each other dividing the vote between them. How is a system fair that a party that 60 percent of the electorate don't want can win? This is totally true. Why don't you come out and say that you don't want AV because it'd help elect labour governments, rather than it's not a fairer system? This might be true. However, shouldn't those who really want AV pull out the No vote leaflets, highlight the part where they have bullet pointed that AV would be a blockade to PR, and that's why the electorate rejected it? I went to dinner tonight with someone who wants PR and voted against AV. I think it a little strange but they are out there.
  5. Too true. I thought we needed rate rises but they're dropping again already. It'll be carnage if they ever have to lift them significantly. edit: grammar
  6. Farout. Renting a waste of time? If you take the average house price in wales, and look at last months drop, it was 3.8K. How much would the rent on the average house be in Wales? Even London isn't immune. Hurrah! I don't see any mention on news sites about decent falls possibly coming. It's all just ...'static or maybe slight falls. No need to panic".
  7. So I take it from this thread that our debt is rolled over at longer periods. But what about the resale of this debt, and the debt currently being issued? How come the price hasn't slumped? i.e. the yield increased?
  8. I think AV is a fairer system. Though, I'm not sure if I want it because it sounds more likely to produce a labour victory. Isn't this what is more likely with AV? Liberal votes being chucked onto the labour pile? Though really, most people I know are blaming the tories for 'cuts' and I get shot down in flames every time I mention that it's only because of overspend during a boom that they have cut jobs. My brotherinlaw who is quite into politics thinks this might destroy the liberal party. I can't see it, as they must have spent alot of time researching it before backing it surely?
  9. Say what? The general public only need to know you number parties in preference order and don't number any that you don't like. I find it very strange that the first losing candidates votes are the only ones redistributed in the second round. In the current system we have you can win a seat when 60 percent of people hate your guts. If we're going to start misusing the term 'democratic', that doesn't sound very democratic to me. Also ten percent of the population can vote for the green party and they win no seats whatsover. Hardly democratic.
  10. Also I just read your mathematical statements. And you put.... Independent Conservative is knocked out as he had least votes in first round, all Independent Conservative votes don't count in next round Which is totally wrong. All Independant conservative votes then get redistributed to whoever they voted second to. Either that or I have totally got AV wrong.
  11. I don't understand your use of the word democratic. Everyone gets a vote. Someone gets elected. Sounds like democracy to me.
  12. I'd much prefer our new houses being built by councils, than the private sector deciding what sized 'unit' will make the most profit. The main government interferance is deciding what you can and can't build on. If we didn't have restrictive planning laws, the bubble couldn't have grown as big.
  13. Yep, I feel the same, but I do think with us being broke, and trying to balance the books, this will have to stop, be curtailed at some point. Yeah buying houses in places they wouldn't have looked at ten years ago. I don't see much selling quickly though. Most people stick it on the market at a good asking price and don't get many bites. See shedloads of stuff on rightmove just sticking around for ages. I'm waiting for this current slide to start gaining momentum. I'm sure we have yet to see the snowballing effect kick in. As the market seem to have been edging down of it's own accord, and quite a few people haven't really noticed spring bounce coming back down. Nice to see the haliwide graph mirroring the case shiller.
  14. How long to the bottom? A long way yet. I'm a HPCer and I find the idea of house prices in London diving absurd. I look at all the evidence, and it seems a no brainer. But with people asking 2007+ prices, and overpriced dross just sitting on rightmove for months and sometimes years, and stuff selling for quite good money, I just find it bizzare that they will all of a sudden start falling again. Without a kick start like some decent rate rises. Or I suppose austerity kicking in. Which will happen at some point. I only started looking at actual house prices in an actual area, at the end of 2006. I now look at sold prices from 2002 in the same area in absolute amazement. It's like, how could they be so dirt cheap? They seem so detached from reality. Logic states that it should be possible to achieve those prices again, with job losses, interest rate rises, no rampant lending and a turn in sentiment. Currently though, repossessions are low and the government has deployed weapons to reduce reposessions, ZIRP and SMI and even asking banks to be more forgiving. We need repos to start happening again, at least in London to see some juicy falls. And that seems a year or two away at least.
  15. Just realised it doesn't matter, if Conservative First votes and BNP second votes for the conservatives > 50 percent, counting Lib Dems Second votes still wouldn't give labour > 50 percent, would it???
  16. Why is the only option change to AV? Why don't they offer Proportional representation? I saw some no vote supporter claim there is only three countries in the world that use AV, as a reason not to have it. And that sort of made sense. I've been reading about how it works. Doesn't it have a major drawback that the first time votes are redistributed, they are from the candidate who scored the least? For instance, say the BNP came last, and every BNP voter puts tory second, and the majority of votes go to labour and the conservative party, but there is not a 50 majority for either, then the BNP party voters second choice get added to the conservatives. Why is a BNP voters second choice more important than say the Lib Dems voters?
  17. It's a crazy joke. The only thing that stops people on low wages throwing in the towel and going on the dole is that they'd get a nice place to live, but they'd only have 60 pounds a week to live off. There seem to be quite a few that do it and then make some beer money by becoming the local dwugs dealer. I can't believe how they bottled it in regards to housing benefit. If we have more austerity, and rising unemployment from the public sector, we'll have shedloads more high housing benefit claims, and it won't have saved that much in making them unemployed! I'm starting to suspect that they know full well that reducing the rent burden will mean a collapse in house prices and it IS all about house prices. I can't see how the government can pay high levels of housing benefit as the claimant count rises. The deficit will probably remain "unexpectedly high".
  18. Jesus, the catch is in the title.... Buy a home and save £100 a month because of low interest rates.
  19. I fear you are right. Therefore, those who have not yet bought are stuffed. Either pay a high price or wait for ages. I think though, interest rates returning to sensible levels, will start to bring prices down faster. As Buy to let makes less sense, and paying shedloads for a place becomes prohibitively expensive. That's why the question "how long before interest rates have to rise" is such an interesting question, to which I don't know the answer.
  20. If they earnt the national average, then they wouldn't have any money left over after paying the mortgage, in times of ZIRP, and they live in Charlton. Says it all really.
  21. What do people make of that last Andrews Robertson auction results? Does it look like prices are softening?
  22. I certainly think London is very stagnant. Overpriced rubbish stays on rightmove. I just want to see some decent falls though. And a change in sentiment. Perhaps it will take a rate rise and for theses austerity measures to kick in before we assume brace position again. Did it not? If prices dropped back to 2003 here, that'd be 50 percent off. I look at historic land registry data and kick myself for not buying. I find it quite strange they could have been that cheap.
  23. I have an 19 month old. We have a very nice place we live in and have a great quality of life. It wouldn't be as rosey if our landlords told us they were selling up though. Though, thanks to another poster on here, if we did have to move, I'd get a place that I could rent longterm without the worry of the owner kicking us out. Buying a house and paying it off is a great thing to do. But all signs point to cheaper housing in future. So holding off buying might mean the mortgage being cleared sooner. The market here seems reasonably sluggish, yet ZIRP and some funky London effect seem to keep them from outright falling. My wifes work went through a round of redundancies. Lots of her colleagues live in London. I don't see buying a very expensive house or rental unit in London as being a good investment if interest rates go up. You might as well hang onto your cash.
  24. I don't think I should be able to buy a central London place. Though on a decent salary you should be able to buy some zone three place. I'd be quite happy paying 2003 prices. I'd probably be happy paying current prices, just as long as they left the base rate where it is for twenty five years
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