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House Price Crash Forum


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Everything posted by munimula

  1. That's rubbish. Most newly graduating physios can't get work. GP's don't refer to private physios but NHS physios who certainly don't earn that kind of salary.
  2. So they are operating as an estate agent with reduced fixed fees. They value your home, take pictures etc and then upload the details on the web. What's so special about that? We are in the process of buying a house and didn't even see the estate agent offices. Saw advert on Rightmove and met agent at property. So we already know that we don't need estate agent offices. Why would they want you to pay to advertise on all those property portals when the whole point should be they are launching a big venture with all the marketing that should drive people to the iSold site? I totally agree with fixed pricing though. Can never understand how estate agents get away with a percentage fee when the work that goes into selling most properties is essentially the same.
  3. We've got the same problem. We've had to renew every 6 months for £46 fee and done this for over 3 years. We are due to move in next couple of months so I asked if it could just go onto a periodic tenancy as we can't commit to further 6 months. We are being asked to pay £46 again for a new 6-month tenancy with a 1-month break clause. Can they do this?
  4. It really depends on so much, like your savings, the area you want to buy etc. we are currently in the process of buying our first home. 25% deposit means we've secured 5 yr fix at 4.99%. That's £748 repayment mortgage when rent would be about £850. Over 5 years we'll pay off about £15k so property could fall that much or more and we'd still be better off in that we are in our own home. And we hope to build up savings and target is 40% equity in 5 years time to secure even better mortgage rates. We have been patient, I said I'd only consider buying when a 25% deposit was possible. I also moved out of the SE and went back to uni so I could move back to SW for better lifestyle and more affordable housing!
  5. What a stupid thing to say. The private sector is failing because it is being drowned out by the public sector
  6. This happened to us. Taken care of by landlord. Windows are part of the building and therefore covered by buildings insurance. As a tenant this is not your responsibility. We reported it to the police so that the crime could be recorded as a crime stat and so that they were aware. No point being told crime is going down just because people have given up reporting these 'minor' offences.
  7. Yeah, studying chiropractic. 5 year masters. Best decision ever.
  8. Agree. I used to commute from SW London (Kingston area) to Canary Wharf or the City and the commuting was the part of my life I hated most. I got a motorbike to make it more 'fun' commuting. It was fun but also too life threatening.Anyway left that souless existence behind and went back to uni. Now living in Poole, windsurf at Branksome Chine just 5 mins drive away from our house. College is about 10mins drive (in rush hour!) and part time job is 7mins drive door to door. I would never go back to the kind of commutes I previously endured. You only live once.
  9. It might not be their choice. Already 84% owned by the government, it won't take too many more £Billions before it's 100%. Perhaps the markets are finally realising that!
  10. With all that has happened and as much as I despise Labour I am still not motivated to vote for another Tony Blair in the shape of Cameron But the main reason for a possible slip in Conservative lead is that the sheeple are being fleeced by the current government that everything has gone back to normal
  11. Just because interest rates went from 5% to 0.5% doesn't mean that's what happened to mortgage rates. Mortgages are more expensive now for FTBs. I think it's a well established argument that the housing market right now is not normal. Sales volumes well below the number normally associated with falling prices. A UK debt crisis will see mortgage rates increasing in the near future as the cost of borrowing for the UK increases. Governments can't borrow £200bn a year without consequences. Of course they can make big cuts but that will equally hammer house prices. It's a double edged sword and just a question of when. Hence this post - with the builders and to some extent the banks indicating the next leg down is around the corner, are they still reliable indicators and what time lag can we expect?
  12. Yes, that thread has got too long to follow. The builders turned down in the beginning of 2007 prior to house prices falling from the end of 2007 and throughout 2008. However their share prices were much higher then than they are now. So last time it was approximately 12months before house price falls really started in ernest. Will it be a similar time lag this time or could it be much quicker?
  13. After two months we can now see that the shares of the builders; Barratt, Persimmon, Taylor Wimpey and BTL supreme lender Paragon all turned down in Septemember. The falls have now clearly broken the upward trend in these shares since the beginning of the year. And these falls against a rising FTSE 100 in the same period. There are similar patterns in the banks like Barclays and RBS. So my question is, are these shares still reliable forward indicators on the direction of house prices? If they are then when does it indicate HPI will be turning negative again?
  14. I live in Poole and read a sad stat a while ago that stated 92% of new builds in Bournemouth are flats. Who would pay the ridiculous asking prices for these hutches if they had to put up with 40% socially housed neighbours? We rent a property in a private development right between two social housing developments and the people that live in social housing are very anti-social. It's bad enough with them living in their own houses the other side of the fence - to live next to them in the close proximity of modern flats would be a nightmare and not one I'd pay for.
  15. Yes, my sister has just started nursing course via diploma route and she gets paid £6k per year for doing that! The graduate route would entail £3k+ per annum course fees so over 3 year period there is a financial difference of £21k - and that's now, fees will go up as students and the young are too lazy and unmotivated to get off their Wii numbed arses to do anything about it. So right now my sister gets paid £18k to do a nursing diploma, in just a few short years she would have taken on £9k debt to do essentially the same thing. Big change My wife is a staff nurse and did the degree route and says the problem with the degree is it is too academic, too much focus on academic learning as opposed to real hands on experience
  16. I've followed the BoE inflation predictions closely over the last 5 years and seen how inaccurate their predictions were - 5% inflation in 2007 wasn't even at the top end of their predictions 2 years prior (the time window they work from). The lesson learned is that the BoE will always predict what it wants to happen, not what will or is likely to happen.
  17. Hadn't given it much thought but I think you have a point. The peak in numbers visiting this site was through 2008 as prices fell hard. Perhaps when prices start falling again things will pick up. For now, following the property market on a daily, weekly or even monthly basis is pretty pointless
  18. Seeing the same thing in Exeter/Exmouth area. Things have literally changed in last two months - since mid-end August. And this is backed up by estate agents in the area. Prior to Aug everything coming to market seemed to be selling...sometimes in just a matter of days. Now seeing properties on the market since Aug having prices reduced. Quite a bit of supply coming onto market too so by next spring I think we can expect the lack of supply argument to disappear. Phase II has begun
  19. Yeah, two guys I know that have just finished uni - £20k student loans each for Mickey Mouse degrees that don't mean sh*t and no decent jobs to go to.
  20. That's an interesting point but looking at the rates leading upto the 1990's crash - the rates that supposedly triggered the crash weren't 'punishingly high' comparative to rates preceding the crash. In 1987-1988, the main boom years for property prices - rates averaged 9-10% so a rise to 14% should not have been too punishing for all those that borrowed within their means. The repossessions kicked in when the unemployment figures started to rise and that compounded the price falls even when interest rates were being cut.
  21. Totally, I barely visit this site anymore when I used to visit daily. To discuss house prices on a daily, weekly, even monthly basis is now pointless. I'm confident nominal house prices won't be rising over the next 5-10 years so at a minimum they will be falling in real terms over that period. But we may even see falls in nominal prices too. Either way a sensible man waits patiently on the sidelines of this market.
  22. Correct. Which is why, when the crash began in late 2007 I predicted the bottom of the market would be around 2016 but now I'm thinking that may be too early. Patience fellow bears....
  23. It's simply stupid to suggest that anyone was wrong by not buying 2003-2007 because nobody would ever have predicted that banks would effectively be trading with no regard to risk and happy to bankrupt themselves. Anybody that says they predicted prices rising 2003-2007 based on anything other than hope is lying because to have correctly predicted rising house prices in that period would have been to correctly predict that banks were going to go bust. And if you can find a bull in that period that was predicting house prices rising and banks going bust then I'll eat my rented house.
  24. I think this sums up bull mentality nicely. A lot of hoping but very little ability to think
  25. I'm having a hot flush....keep talking My own little bit of anecdotal is that my sister is waiting until the spring to sell. Job change forces move and decided to rent until then. Also, area I watch closely in Devon has changed dramatically in the last 1-2 months. Properties that were previously selling in days now not selling and weeks passing. I think supply will build up over the winter with a fresh burst in the new year and we could see a quick change in the supply:demand ratio which will see prices falling again from the new year
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