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House Price Crash Forum


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Everything posted by JB1981

  1. But isnt the market for UK Gilts effectively created by the Treasury in the first place to borrow the money as they are the ones who issue the Gilts? Sorry I am a novice at this quantitive easing thing but this headline about the interest caught my eye and strikes me as plainly wrong
  2. How do they get away with it? Also will they eventually fund the deficit with all the interest earned from quantitive easing as there will be so much of it, if it ever stops? How about paying off the government debt owed to investors other than the BofE with funny money and then cancel it all so we have 0% national debt I give up
  3. So basically trash the pound? I have not been around long enough to witness the full Japan crash. But I have noted that when one of their companies posts a loss of say 500billion yen, it is the equivalent of just 5billion pounds. Was the currency exchange rate with Japan always like this or back in the 1980s was the Yen at a similar level to the pound or dollar i.e. 5billion yen = 5billion dollars? Is this us in 20 years, where our currency devalues to Japan's level, and when our company posts a loss of 500billion pounds, it is the equivalent of 5billion dollars?
  4. So the treasury who issues the gilts to the BofE, then pays interest on the gilts to the BofE, who then pays back all the interest accrued straight back to the treasury. Treasury is effectively issuing debt at 0% then? As for the BofE selling the £375 billion of Gilts they have bought, what is the odds they simply just cancel them at a much later date?
  5. I would be the first to admit that I do not understand quantitive easing other than printing money to fund the deficit, although to make a profit/accumulate interest on your own debts? This is the equivalent of someone having a £7k debt on their credit card and a credit card company paying that person £500.00 in interest per year on this debt, reducing the same to £6,500.00, instead of the person paying £500.00 interest on top of their debt,increasing it to £7,500.00. Why do rules that apply to the normal person not apply to government? Also, will this £35billion pound be used on the accounts in March to show the government has hit and indeed substantially beaten their deficit target? Confused
  6. WTF? Does this mean the Govenment is actually issuing debt at 0% which is bought by the Bank of England via quantitive easing? Is this fraud to other holders of UK Gilts?
  7. To be honest, I think Carshalton is over priced. There is one of the most deprived areas in the UK there (St Helier Estate), it is near riotsville (Croydon), and apart from a few nice villagey streets in Carshalton Beeches around Barrow Hedges school, it is generally very mediocre at best. Mitcham is definitely over priced - it is horrible. You could not pay me to live there if I had any choice or influence in the matter. Prices there should be 50% of the surrounding areas. Morden's housing stock is very run down in general, poor high street, and its only saving grace is Morden Park and the the Northern Line tube station (it's high street is shite too). Its prices are only as high as they are because of Wimbledon and Raynes Park being its next door neighbours, not because of any plus points in Morden itself.
  8. A listed public latrine. So it smells of old shite and piss
  9. Now then, for the same price in a nice South Sutton cul de sac we have this http://www.rightmove.co.uk/property-for-sale/property-36053125.html Now it needs some updating inside but is surely a much better bet than that heap of junk in carshalton ponds
  10. No parking, not even close by? Check. Extremely noisy and congested road on your front door? Check. Average high street? Check. Pub with bad reputation opposite? Check. Okish transport links to London Bridge which will have severe disruption during a station remodel over next 5 years? Check. Nearest tube a 15 minute bus ride away +? Check. Cheap thin carpets, small concrete garden, boring decor throughout and average room sizes? Check. Anything positive about this place at all? Well it has funny shaped windows mis-classed as characterful and a lovely view of the ponds which cars reguarly drive into on a dark night £400K? You would have to pay me to live there! If a nutter pays anything over £250k for this then we know the market is totally insane. Personally I would not touch it with a bargepole unless it was under £75k
  11. I saw this one and saved it onto my rightmove account as I could not believe the price and was wandering how long it would take to sell. It appears you paying £400k for a view of the Ponds. Furthermore, hasn't the pub opposite just been shut down for drug dealing? (Coach & Horses I think) Also, I failed to see where you can park! If there is no parking space there (and I am certain there is not), I think you have to walk 100 yards + to the nearest road with available parking. Thats enough to put me off paying anything for it, left alone £400k
  12. Out of interest, does anyone have any charts or graphs or even just figures comparing average property prices across Surrey against South London for the last 12 years. I say South London because that is the closest part of London to Surrey and does not include the hyper-inflated areas of Kensington and Chelski etc. Just thought it would be interesting to see how South London inflates surrounding areas like Surrey
  13. I've 31, and I've had to earn double the average national salary for the last 5 years and make sacrifices like not going out nearly as much as I used to, just to be able to save and afford a decent size house in an outer London suburb. Now I've got it, the sacrifices continue to pay the mortgage. As for my friends, well, i've touched upon that previously in this thread. As for people affording £1.5million houses, I don;t know any, and most people I know can barely afford £160k houses/flats
  14. That looks like a seriously boring characterless and souless place Perfect for the silver spooned rich kid then!
  15. Some people just have too much money and dont know what to do with it
  16. According to Zoopla, Surrey average house prices are down 5.12% from the peak 5 years ago. What a crash!
  17. I think the key thing is when you see these type of people, as long as you simply mind your own business and walk on by and never look at them directly, then they wont do anything to you. I went out close on 7 nights a week between the age of 18 to 25. I went all places around London, including some very dodgy pubs and very dodgy areas. I never got hit once, although I saw numerous large scale fights, mainly because I kept out of the way and walked on by. I know also know some people that have gone out in what can be described as extremely posh areas, and yet have either been threatened or punched, and I dont think anyone can tell me that there is one specific area in the entire UK which is 100% guaranteed where you will not get threatened or attacked or see somethhing bad happening.
  18. Yeah but monthly figures are irrevelant anyway and can vary from lender to lender. The three month and annual figures for both Halifax and Nationwide are broadly the same
  19. Where do people get their money to pay these prices!
  20. Yeah I know I couldnt believe it when I saw this article. At school me and my mates used to joke about the lack of fit looking girls and the teachers were mainly mingers with a couple of exceptions. I probably went out 5 nights a week in Sutton in early 2000s and most girls were caked in make-up, and in the end I started going for girls from anywhere but Sutton after 2002 and in the end settled down with someone not from Sutton.
  21. Very true, always different rules for the rich selling their £million + properties I saw sold prices back in 1995 for my road and my Mum's road nearby and they are about one third of the most recent sold prices. I was I was born 10 years earlier and a first time buyer in 1995
  22. Nice bit of Croydon??? Wheres that then Although there is that large notorious estate next to Richmond Park, what is it? The Roehampton Estate?
  23. Not really, see earlier in the thread for the price comparisons for August 2009 and now Admittedly there was a large bounce from £146k to around £170k in early 2009 then since then went back to £160k and have largely remained and fluctuated around this figure ever since - hence why I have said house prices have largely remained the same since 2009 bar mild fluctuations, the large bounce you refer to happened in early 2009, which is effectively over than 3 years ago. Also I admit I am talking about the average and not the broken down figures. However this thread is about the Haliwide figure and the average increase/decrease for the entire UK and is not about the Land Registry figures. Also, all figures for Halifax since they began have been skewered by prime and sub prime areas, and have always affected the figures, pre and post boom
  24. Sorry I see what you mean I'll rephrase it a bit better They are around same level as three years ago and there have not been any significant fluctuations either up or down in the last three years; is that a better way to put it? Of course, between 2004 and 2009 there were massive fluctuations with the peak over 20% higher in 2007 and the trough in late 2008/early 2009 over 25% lower than this peak. No such similar fluctuations have occured between 2009-2012.
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