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House Price Crash Forum


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Everything posted by kilroy

  1. Bonuses are all relative. If you have a crappy guy working for you, you still fight for a large bonus for him. In doing so, you can then say "he gets paid X, I should therefore, as his boss and general intellectual superior be paid X*[insert suitable multiple here]"
  2. http://www.fsa.gov.uk/pages/Library/Communication/Speeches/2011/0113_lb.shtml Especially, "it is now clear that there will be a new European initiative. We're waiting for details of the measure to be confirmed. However, it follows a great deal of discussion and debate around the case for intervention, especially to promote more responsible lending and borrowing, a debate with which we been closely involved." Hopefully this european initiative being led by Axel Weber at the Bundesbank...
  3. It was only a matter of time before they started clambering to be he BankOfBankOfMumAndDad. Personally, I think the lenders will look at this, figure out that a gifted deposit isn't really gifted ("don't worry mum, I'll pay you back") and stop accepting gifts deposits altogether
  4. Stupid survey. They asked people at what rate they would switch to a fixed and people gave them an answer. They didn't ask at what realistic rate rate they would switch. It's like asing at what price would you buy a house, someone answers "50% off 2007 prices" and the person asking goes and writes a snidey article about how stupid people on HPC are.
  5. That is not fact; that is the opinion of UBS banking sector analysts. In another opinion (by RBS bankiing sector analysts) UBS should close its FICC division.
  6. only if they choose to play at the currently stupid high price levels.
  7. A lot of european borrowers are in for a shock....
  8. http://www.telegraph.co.uk/finance/personalfinance/8250303/Typical-house-price-to-lose-a-quarter-of-its-value.html The typical value of a home in Britain will lose a quarter of its value by the end of this year, to reach just £150,000, economists have warned. Halifax, Britain’s biggest mortgage lender, said average house prices dropped to £162,435 in November, down 1.3 per cent on the previous month and 1.6 per cent on the same period a year ago. But economists forecast that values will drop even further this year to just £150,000 amid concerns about the economy. It would mean a total drop of £50,000 in prices from the beginning of the credit crisis in August 2007, when they stood at £199,612. Martin Ellis, housing economist at Halifax, said: “Uncertainty about the economy, weak earnings growth and higher taxes could put some downward pressure on demand.” It comes amid growing speculation that the Bank of England will raise interest rates this year to combat higher inflation. Howard Archer, an economist at Global Insight, said: “Any early interest rate hike in 2011 would be bad news for the housing market and likely to weigh down on prices - not just the rate rise itself but the impact on potential house buyers’ psychology resulting from the fact that they would be facing rising interest rates. “Critical to the development of house prices over the coming months will be the amount of houses coming on to the market, mortgage availability, how well the economy and jobs hold up as the fiscal squeeze increasingly kicks in, and what happens with interest rates." Estate agents suggested the seasonal slowdown in the housing market was accentuated at the end of last year due to the bad weather. Peter Rollings managing director of estate agent Marsh & Parsons, said: “The worst snowfall in a century reined in the number of buyers hitting the streets and viewing potential properties across many areas of the country.” However, despite the drop in prices, separate research suggested the number of properties sold last year may have actually risen by 2.6 per cent. Estimates suggest 630,000 properties were sold last year, up from 614,000 the previous year, according to property website Globrix. Jennifer Warner, of Gloria, said: “The key driver for the market in 2011 will be mortgage lending activity. Mortgage availability is key to a healthy property market, particularly for first time buyers. The expected rate increase from the Bank of England, which now seems a question of when rather than if, will also shape the market this year, possibly leading to lower prices and greater affordability for first time buyers.”
  9. How are they all going to get to Centre Parcs in Longleat now?
  10. needs more context. Your figures are against the backdrop of the global financial crisis which started in america. What does it look like over several economic cycles?
  11. Thinking about it, only egg card was fee free, but everyone else charged 2-3%, capped at GBP25 or so. No such cap nowadays makes the risk/reward far higher.
  12. It's not really spelt that way though because they use them funny squiggles. Oh, and they read bacwards. You're on your "tod" on this one.
  13. I think we will see steepening in the curve. By the time those on SVRs think "ooh, I tihnk i will fix" it will be too late. Long end is much more sensitive to inflation expectations than the short end
  14. I think we have different definitions of stoozing. I see it as transferring a balance from a cerdit card at 0% to offset against your offset/CAM mortgage. Something I used to be a big fan of back in the heady days of 0%-APR-no-transfer-fee (2004 - 2007).
  15. Not ideal for stoozing, as the transfer is uncapped at 3% of the transfer amount; the potential gain of offsetting against mortgage could easily be wiped out by a minor transgression
  16. Occado price match with tescos and Waitrose has a value range called "Essential". The plebs have never had it so good.
  17. Has to be said, didn't take me long to find the lady in the shower (fourth one from the end, if you are interested)
  18. HOw much is a BigTrak? 24 squids here and now.
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