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House Price Crash Forum


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Everything posted by 200p

  1. NO! A drop in the ocean! Most (well ok, all) of the 20-30s FTB wont have £40K in the bank!!!!!!!!!!!!!!!!!!! Good luck to Filbo - prices will drop slightly more than 15% however The rest of us are just going to continue to sit it out
  2. That is the general consensus of people today. Why do we have to buy the latest things for our kids? Can money really replace an invaluable secure loving family? Learn to say no to nike trainers and the latest PS2 San adreas game. You wont be thought of as a bad parent,
  3. Credit cards. true, have contributed to increased consumer spending, and thus proping up the economy. But it is credit cards which will help the economy fall harder in the end. Surely, credit card borrowing cannot go on at infitnitum, eventually when interest rates go up, the average family cannot maintain mortgage repayments and credit card payments to live beyond their means. Then we will see the fireworks.
  4. So they dont pay tax eh? The long arm of the tax will inevitably slap him a bill. The Latvian builder has a useful skill to contribute to the economy and I will welcome that and good luck to him. Better than those living off the benifit system and refusing to work. Did you see that program on a while ago about the under-cover police who shadowed the Mr Big of a drug running operation for 2 years? They finally got him put him and his gang in prision and slapped a big bill on him. They discovered who Mr Big was in the end because he was buying expensive things like a 2 million pound house and £40K BMW all cash purchases, etc, without apparently any means of income to support it. I think The rich will get noticed in the end and will be scrutinised.
  5. I would have thought all the new immigrants are ILLEGAL and therefore are not allowed to work officially. In fact those who illegally get in are forced to work by the organised gangs for pitance and live in overcrowded accomodation e.g. 40 in a 2 bed terrace. Example of this is the chinese immgrans in morcombe bay. It is the criminal gangs who are making huge amounts of money. When India and Hong Kong and other British Colonies were part of British Common wealth there was mass immigration in the 70s. These are the legal migrants who make a honest living in take aways and newsagents and restaurants. As the common wealth today has been reduced, most of all the immigrants today are illegal or asylim seekers from east europe, the middle east and the far east. Most pay an extortiante amount of money to be smuggled in, and then to be forced to do hard labour whilst in the UK. I am afraid not all immigrants are the new rich, but it is the gangs who run the operation.
  6. Credit cards ARE a good thing. They will enable the economy to return to its natural equilibrium, and hence affordability of house prices which will become available to the level headed people who havent lived beyond their means.
  7. I will be keeping an eye out for it.... If they sell at £200K, that means a profit of say 20K, split two ways- 10K over 5 months they spent doing it up: 2K per month worth of work at the most. Thats not including expenses like mortgage payments, bills, council tax etc. Not really worth giving the day job.
  8. Well I dont want to see tony blair become priminster again - we need a change of leader doesnt matter if it is labour again with David Blunkett in charge.... Otherwise we might as well resort back to dictatorship.
  9. They might as well start advertising with the header: " FREE SEX.!. Not really, but bet that got your attention! But just as exciting, 1 bed flat for £220K in up and comming area, recently refurbished, reduced, no chain, blah blah blah"
  10. I ve been reading C4s property ladder pages. Not actually seen the program yet. Just trying to see if this couple actually made a "killing" on this property they bought to do up by gambling everything they own: http://www.channel4.com/4homes/ontv/proper...felixstowe.html Its 4 beds and total outlay for buying and redecorating came to £185K I could nt actually find the couples property on the net, but the nearest thing i found was on rightmove for a similar property : but 7 bedrooms http://www.rightmove.co.uk/viewdetails-400..._t=buy&chnl=buy The price is £254K at this time of writing. My rough guestimite of the couples project, that it would sell at £230K? - lower than EA estimate in the program. So the profit would be 40K split both ways - means 20K each. I assume it took 5 months to do the whole project, so it is a sum of £4000 per month profit of work if they sold immediately. Does anybody else know of anything on this one, or views? It can get disheratening when people "seem" to still make money on this type of game...and i am stuck with the 9-5 Mcjob But not that I am going to give it up now. PS - they were a bit mean to charge the neighbour renting out the waste pipe going though their grounds.... Dont think I would p*** on you if your house was on fire. Burn baby burn.
  11. Uncharted territory it does seem...... who knows really what will happen. Although I am glad I havent bought anything now and happy to sit it out.
  12. I trully hope so. Thank you for your point. Phew! I would have thought we are going to uncharted teritory though, as I wasnt old enough to remember the last crash. For sure they are much more BTL landlords now than in the 90s - and if a higher proprtion of these are late commers to the BTL scene and raise rents - the base rate for rent, lets say will rise. Hopefully not by much.
  13. I like the article, great post. BUT - what worries me if the BTL landlords who have recently bought and cannot make the rent to cover the mortgage, and refuse to sell up - wont they simply raise rents in the short to medium term? People who are renting will have a problem, because if they are FTB, they wont be able to afford anything now, and will be forced to pay higher rents. They will still need somewhere to live - and moving back with relatives may not be an option if their workplace is elsewhere in the country. Any ideas what may happen? Or are the renting FTB, set for doom?
  14. Anybody in this part of the country - windlesham, surrey know why this Halifax Estate agent is closing.. ahem relocating? http://www.rightmove.co.uk/viewdetails-334...=rent&chnl=rent
  15. I thought these might be useful for the FTB out there. Start clearing your debts and save for the deposit! 1. Paying off loans - and see how much interest those credit cards are getting! Very useful even though the units are $$ dollars, but same principle netherless. http://debtcalculator-online.com/debt_payo...lculator%20.htm 2. Mortgage calculator for you, work out the repayments per month, and predict how much you pay when those interest rates DO go up a few points (!) http://mortgages.charcolonline.co.uk/calc/toolscalcs1.asp
  16. Hey dont laff off the VW camper van idea just yet - IT was a consideration! Just a problem with heating it at night how to wash without a shower...
  17. Star in your very own "The Office" with Ricky Gervais http://www.rightmove.co.uk/viewdetails-350..._t=buy&chnl=buy Come friendly bombs, and fall on slough It isnt fit for humans now....
  18. You crack me up! That was so good - i ll use that one in the pub next time. Thankyou.
  19. So its started .... Who would have guessed that the property buble bursting would be caused by the SPECULATORS THEMSELVES and not by the lack of FTB. Well they made their grave and they will lie in it. R.I.P.
  20. Evidence that people are STR - People are packing up STR and using in the big yellow storage places which are so popular now from this housing boom. OR they have been Abducted by aliens. I tell you the rise in crop circles were linked to the rise in vacant possessions...
  21. "Some have simply lost their support network, don't have friends, family or credit cards" Trevor Pickup, Society of St James Clever trev - i wouldnt call having a credit card a part of a beneficial support network...
  22. Gees I didnt know portsmouth become that bad I not surprised though - Many factories and industrial estates which were paying good money for workers have been knocked down to make way for residential properties. E.g. Smiths crisps, jonson and johnson and fratton goods yard. True more shoping centres have opened up like the pompey centre and gunwharf - but retailing is generally not as well paid and suited to part timers - not full time heads of the household to pay mortgages on. This is what you get for not getting the balance right between residential and jobs, and letting our manufacturing workforce go overseas. We spend good money on making commericial road and guildhall look nicem and build a nice tower - but we havent really done anything to help the homeless.
  23. I ll just come in randonly without reading the whole thread to the end- Jesus - £60 to fill up your tank??? Is that what these new HummVees cost to fill up these days....... Costs me £25 from 1/5 full to full and lasts for ages. (1992 Escort)
  24. Parents; FTB 1978 2 bed terraced house for............................. £7K ! Price for similar property the year after shot up to £12K!!!! nearly 50% Mortgage was for 12 years; relatively easy monthly payments.
  25. Yes mate - i did. Apparently some people were stuck for FOUR HOURS just to move a few miles. I heard on the radio comming in from the M27 that there was an accident that was about 6:30pm. From around cosham, I could see down that there was a 2 mile line of traffic that was nt moving, so I missed the turning and carried on onto the next turning down into eastern road. Main roads on the east side were moving,however, we then turned into a side road for a short cut - BAD IDEA Because it wasnt a one way system - traffic coming both ways into a road (suited for one car) became gridlocked quickly. After sitting for about 30mins all us in our cars helpless; eventually some people reversed up the road and we got home. Maddnes - but it does go to show how quickly chaos can happen. I heard trraffic wardens where out next day early to snap up the cars that were abandoned on yellow lines or in the controlled parking zones. The cheak!
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