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House Price Crash Forum

equitystasher

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About equitystasher

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    HPC Regular
  1. Age of tax cuts and endemic tax evasion doubled the the debt since the crises. Heavy lifting done by one side but not the other.
  2. It's not stealing. It called paying for stuff we all need, to keep the country and society going for the good of us all. My god, what a thought. A unselfish one that benefits everyone in the long term. Unfortunately the coalition and cons now have a system where rich people and corporations can get away without paying anything like what they were and wonder why the nations debt has doubled whilst the services and infrastructure is failing. Leagues of very intelligent people finding ways in which their clients, can avoid paying their already, lowered obligations and using the law. It's not difficult to see where the ruling classes want everything to be and for the majority, it will be misery and servitude whilst the top sit back and bung more money to the appropriate places to keep the facade going. Everyone benefits from good services and infrastructure and if a bit more wealth was spread towards the middle and bottom, then they might find the economy picking up instead of seeing wealth off shored. Socialism for the rich does not work.
  3. The money tree was found to bail out the banks and landed the country in eye watering debt which has created moral hazard. We are heading for another crises as it's business as usual in the financial sector. They are the biggest contributors along with property specualtors to the Conservative party who do their bidding. Since policies of cutting everything including basic services whilst allowing massive tax avoidance to take place by individuals and corporations has seen the debt almost double. This is the biggest revenue hole rather than "scroungers" The equality gap has widened and it will continue. This is not sound economics but ideology. You can't keep cutting services,deregulating and promote speculation of basic human needs like housing and expect the majority not to suffer. The debt burden should not of been shoved totally onto the public sector but balanced throughout society. People are starting to wake up to the con.
  4. My Fiancé came home today to tell me about a close work colleague who has gone to the banks for a mortgage in principle so he can buy a house in Surrey. He is 25 years old and has a total gross income including overtime of £32,000 a year and has a 5% deposit He is determined to buy a house against the advice of my Fiancé. We both reckoned at best he would be offered £120,000 mortgage due to MMR. How wrong we were!! He has been offered £250,000 over 65 years with the Halifax and he wants to take it despite the sound advice from my fiancé I thought sub prime lending had finished in 2008 but how wrong was I! This all makes sense why house prices are still at ridiculous levels. He is not the only one who has been forwarded such a large amount over a ridiculous term. Two others we know have done the same. It makes me angry that we have to bid against such stupid people who are given the rope to hang us all from the zombie banks. Next intergenerational mortgages like Japan?
  5. This is a further cynical move by the Tories to further weaken workers rights and is total hypocrisy given how our electoral system works which affects us far more than public sector unions. Public sector unions are the last union's to have any sort of power to fight and defend the services and rights in this country. This is about ideology more than votes. If this becomes law then it's only a matter of time until the 40% goalposts are moved. They have even admitted it themselves. This is in the first instance is all about preventing strike. Withdrawing ones Labour is the only way certain workers can bring about negotiation.Once this is eliminated there is little point of being in a union. No unions is a Tory aim along with relocating wealth to a minority not the majority. I hope that the average man will see beyond the smoke screen of eliminating a annoyance to the "hard working families" and see there is more at stake.
  6. It never ceases to surprise me the ignorant, anti public sector rhetoric espoused by the vocal minority on this Forum. A Firefighters job is a dangerous. Using your methodology of stastics, driving to work is more dangerous than being a Firefighter which is not true. Firefighter deaths are at their highest for many years. Firefighters dealwith a very broad range of incidents- flooding, chemical, transport crashes etc etc which requires broad knowledge and skills to be effective and operate safely. Cutting roofs off cars is due to protection of c-spine injuries and is done on request of a Paramedic or Hems doctor. 1 in over 2000 who apply for full time Firefighters are successful. In your hour of need at a fire, chemical spill, or after a terrorist attack, when everyone else is running away you may look at their worth differently? P.S Each Fire Authority is fully accountable and publishes incident and budget information.
  7. This mess was not caused by Firefighters,Nurses,Teachers and other essential service providers but the greed of the Bankers leveraging up the system through their greed and the politicians (Labour) bailing them out. It seems you have fallen for the scape goats and seem happy to bash the wrong people.
  8. Hi All, Sorry for the late reply but I've been very busy with personal and work challenges. No this is not a conspiracy. My account hasn't been hacked and these are my own words. I wish it were so that housing came back into line with fundamentals but the simple truth is that the game is far too slanted towards home ownership and there are two many blinded by their emotions on this forum. Pension changes,help to buy,Q.E and low interest rates all point to further increases. To deny this I think you are burying your head in the sand and hoping. Just because it is wrong which it is, does not mean it won't happen. From my perspective I am lucky to have benefited from the previous boom,selling before the crash and investing in index linked bonds so I have so far timed it well through luck and judgement, If I had my way I would of bought two years ago but personal circumstances did not dictate. Now I am eager to buy a decent family house,in a decent area which I should be able to do with a 30% mortgage. We have found somewhere and are currently putting in offers.
  9. Hello HPC, After 7 years of waiting and watching I am jumping back into the madness. I sold my one bedroom flat in April 2007 and decided to rent after coming across this site and spending hours reading the various posts and educating myself from the writings and debates of some very astute posters. Weighing up the considerable advice I decided to sell and stay out of the market against the advice of my family and friends whoi thought I was mad, as the market was only going one way at the time. Or so they thought. All said and done it is personal circumstances that have led me to buy aswell as economics.I wanted to buy a couple of years ago but it did not make any sense at the time. I am now getting married and wanting a home and to be honest, I know the housing market is a bubble, but I know it could take many more years for it to pop and I am not prepared to wait in rented accomodation any longer and watch my capital be eroded by the policies of the central banks aall my index linked bonds have come or coming to a end. Thanks and I wish you all the best for your futures
  10. The real truth is that modern cars are far easier to maintain and cheaper to look after if you do it yourself . They are designed to be easy to service. I have been driving since the ninties and always had the mentality of DIY. I have had Truimphs,Fords, Honda's and recently a Skoda Octavia. Just done front pads for £22 and 30 minutes of my time with no specialist tools needed. The modern cars are far easier to service than the old! Major service- Diesel Filter £22,Oil Fiiter £4,Air Filter £16, Cabin Filter £10. Engine oil which is Halfords VW 507 grade which is the best grade you can buy £36. I use a £30 Pela pump to suck the old oil out of the dipstick hole like most of the dealers do now. Takes a hour whilst drinking a cup of tea to do the lot. How much from a dealer? Truth is that modern cars have little to service now. Fluids and filter changes. Most complicated item is a cam belt change. It's just that most people choose not to have a go. Oh for interest I average 60mpg Winter and 70mpg in the summer from my 05 Octavia. Great car.
  11. Every excuse for not raising rates is used despite inflation being double its target. They are praying that other central banks are going to do their job for them and commodities will fall in price. People should get used to the stagflation we are in as we are going to be in this situation for along time. I am afraid the BofE are bailing out the banks and the inprudent as they know that if rates are set to meet their inflation target the housing market which drives our consumer economy is toast. I expect a token .25 rise at the end of the year.
  12. I am afraid we will not see any significant falls soon. Aslong as interest rates are held at current levels or close to, all we will see Is a slow, nominal grind down in house prices. The BofE know what higher rates will mean to our highly indebted, consumer economy. The amount of job losses people are expecting will not come through at the level many are predicting on here and I am afraid the over indebted have been given a life line by the low interest rates and banks reluctance to reposses. Our only hope is that the BofE is forced to raise rates by the markets and then the proces of rebalance and rebuilding can begin.Until then we will have a standoff between buyers and sellers.
  13. The current policy is cursing both the saver and the indebted. How long do you persue said policy? Wealth is being destroyed everywhere due to the worker not able to demand wage increases.Taxes and growth will continue to fall. If this carries on you will have the indebted going bankrupt anyway and the reponsible will have no inclination or means to spend. The truth has to be faced. The economy needs to be rebalanced. The only way to do this is for the over indebted and foolish to go bankrupt and the people who made the right decisions to take their assets over so they can be put to productive use. Currently you have badly run companies/indviduals being subsidised and competing with by well run companies and the responsible individual. You are just making a Zombie economy which will never recover due to this imbalance. Yes putting rates up hurts. there is no easy way out if you want to get the country back on track.
  14. And it just keeps on climbing. How long will Merv and co leave it till they start to inch rates up? I think they are going to leave it till their hand is forced and only then, they will just inch as slowly as possible. They know how close to the edge a large amount of the population is and the pound is too strong at current levels for Mervs liking. Keeping rates this low might of bailed out the indebted for now, but it has encouraged many more people to take on debt they cannot afford . Barclays offered a friend of mine a mortgage at 5 times income who is in his late 40's! I am still holding out from the madness and not buying a house and I feel for those who are having their saving eaten away. 90% of my house fund is looking good in NS@I at the moment but I am not so sure about the remaining 10% in equites!
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