Jump to content
House Price Crash Forum


New Members
  • Posts

  • Joined

  • Last visited

About Irkuiem

  • Rank
  1. I believe people also miss the point that the lenders have also reduced their rates since 2004, by about 1%. With the demand still there that has to have an effect. This rates are going up now though.
  2. That .25 cut in interest rates seems to have been the floodgate that people were holding back for. It gave them hope for the potential downwards direction of future rates. The madness has only gone on further because of the sentiment caused by this and the banks willingness to lend at rates of about 1% less than they were in 2004. I think the BOE will resist rises in the rates as long as they can. They know that sentiment will turn again. Look what happened last time they were rising and the effect that negative sentiment has had in parts of America. However the banks have now been pulling their low rates as they know the truth and it cannot be resisted forever.
  3. Are those lyrics from an Iron Maiden song? Trying to fit it together in my head. Anyone know?
  4. I know this graph has been used by bulls to prove the soft landing arguement, but when you actually look at the recent boom and compare it to the last boom. Round off the the jagged top area from the recent boom, shrink it to match the last boom in size and it would be a perfect match. I wonder if you magnified the last boom in the graph if you would get a jagged top as well? Downwards from here? Are you following me?
  5. Doesn't the Monkey live in Nottingham. He will be happy
  6. Interesting to see that when prices are roughly at 3.75x wage multiple then HPI surges on the way up and starts the recession on the way down. I will be watching this closely over the next few years.
  7. "but hang on what about mr browns share. he gets 40 pct of the profit of 80,000 less costs that can be put down, say 10,000 so that 40 pct of 70,000 which is 28,000 to hm treasurary" I am not an accountant, but I have been talking to one. 40% sounds a lot, but he will have allowances for each year the property has been his. Also if his wife half owns she will also have allowances. After everything is done and dusted he will probably be faced with a bill more in the region of 10 grand. Yes I know these figures are very rounded up/down, but as we all know taxes are a bit complicated these days and I have only heard this from someone else. So he will take a hit but it is likely to be a fair bit smaller than that suggested.
  8. To one of the posters above, no Sarah is not tasty now. She was much better before she continuously gave birth to a million kids. Anyway, sensible question now: As this show was probably shot last year and the wait till spring was probably for spring this year. That property was in London and they have had HPI this year. Does anyone know if it has sold yet?
  9. I am sure that the title of this post will generate a lot of answers. I know of a landlord who I believe is renting without declaring the income. He may also be selling the house quite soon. Recently this guy p1ssed me off a lot and I would like to repay the feeling, whether or not my suspitions are true. Who do I contact to get this looked into (capital gains and income tax that is)?
  10. Totally agree. The house we are buying will do for ten years at least and has options for enlarging and improvement. I would not buy a small 2 bed or flat or newbuild. I guess I am lucky to be living somewhere that has not had super house price inflation. However I did have to move from my home town because I would not be able to afford a house there (then and now).
  11. This has been going on for me for at least 6 years already. Could not afford to buy then, but I can now and have been able to for 2 years now. Yes I know I have run out of patience, but like the original poster things are happening in my life. I don't particularly want an annoying 10 year, mid life void whilst renting, in what should be the best years of my life. I would like to look back when I am old and say I enjoyed that period of my life. So it cost me to do so, but it was worth it. Of course this option is only there if you can afford it, I know that only to well.
  12. Exactly, I think I will perhaps lose 20 to 30 grand over about 6 to 7 years. Not too bad a price to pay for having a home that better than the rented one for that time. Then again I guess if it all goes horribly wrong I will probably end up in a crappy two bed rented house, the same position as I am already in!
  13. [ Sold today, STC, FTB'ers put in an offer £500 under asking of £159,950!! what muppets - got rejected, so they're upping the offer. If you're going to put in an offer under asking, i would of made it £5k at least - the problem with ftb'ers, and myself included is that we're somewhat desperate to own a home, and looks like we'll do all that we can to do it, if it includes borrowing stupid amounts. Personally i think the world has gone crazy, housing flying of the shelves as it were.. people can't get another of them, and at exaggerated prices. These prices have doubled in 6 years , it's crazy, wage inflation hasn't shifted anywhere to that extent... The problem is that these are FTBuyer houses and in an area like Basingstoke they will be in demand. As an example I have recently be gazumped and at over the asking price. Landlords and developers cruise these markets like sharks. I bet the £350 grand houses have been on the market for ages however. I am like you in that I want to get on with things. Buying at the peak does not bother me as much as it used too. In fact I am counting on prices dropping and my good job getting me ahead of others in the end. This way the next house will be closer in value. Ok, some will think we are mad for buying now. I say that I can't live in a crappy two bedder with EA landlords visiting my house without letting me know (and leaving the toilet seat up!) for the 6 or 7 years it could take for prices to drop. I'd rather lose a bit of money. The problem with this slowdown / crash is that it is / has taken too long, and time is something that most of us do not have (your situation a good example). The biggest cause of this, in my view, is loan rates being stupidly low over the last year. Although this seems to be changing quickly I am sure there will be other ideas to keep the madness going. My suggestion is to talk to a good broker (one your family knows if possible) you would be surprised how good a rate and offer of loan you can get. Then pray your job is safe for three or four of years at least. If you can do this, with luck, you should be looking at the next house up in scale in about five years.
  14. Phew got my 4.79% just in time. Looks like they are going up fast. Hopefully I'll have paid most of the loan off by the time the renewal letters arrive. Then if we are in a trough I can trade up (provided someone buys my house).
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.