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House Price Crash Forum

mohams

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About mohams

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    Multi-identity troll
  1. Am in the process of buying; have made an offer and I am hopeful of it being accepted. I had to bid and I think we outbid the other party (which is why I am hopeful). A couple of time in the last 3 months I was on the other side (i.e. someone outbid me). So doesnt look like there is a shortage of buyers. Someone said to me something that made a lot of sense. They said that there will be a correction. But house prices will not crash. They will stagnate and we will have to wait 10-15 years for salaries to catch up so that prices/salaries ratio is back to a sensible level. They said that the re
  2. If house pricer are so high then good... and so be it. Economics caused it and economics always pervails. You can not restrict people to just buying one house. Thats just silly and won't work.
  3. There will not be a house price crash. There will be a correction but that correction can be either: 1. house prices crash to come down to average salary levels. 2. House prices staganate at their high value... and they remain there for a few years until the salaraies catch up with them (salaries rise die to inflation). What matters is the ratio of house price to average salary and this is more likely to be corrected via the second scenari above. I have been actively involved in buying ans selling property since early 2000 and to be honest most of me and my peers have not noticed any chan
  4. I have to disagree with the above. London has changed for the BETTER. Yes, it has become more expensive but that is a consequence of its recognition that it is a global city, home to the most active financial market, plenty of money coming in from investors/rich people... all the talent is in London... all this is GREAT. And yes it attracts immigrants... this is also GREAT because they bring in a wealth of cheap labour that no-one else will want to do. Thats the way the world works now... labourers are no longer, and SHOULD NO LONGER, be the driving force in UK... yes, they are important becau
  5. To be honest I do not have 'proof' that the US buyers are more attracted to fixed than the Uk or vice-versa... maybe I am wrong so apologies...all I know is that the people who are causing the house price drops in the US... the so called 'sub prime lending' customers... (people with very low credit rating... who pay high rates... and can not take fixed rates like ordinary buyers)... this category does not exist in the UK... so my point is still valid... the cause of the housing problem in the US does not apply to the UK
  6. Exactly my point. To be honest I do not have 'proof' that the US buyers are more attracted to fixed than the Uk or vice-versa... maybe I am wrong so apologies...all I know is that the people who are causing the house price drops in the US... the so called 'sub prime lending' customers... (people with very low credit rating... who pay high rates... and can not take fixed rates like ordinary buyers)... this category does not exist in the UK... so my point is still valid... the cause of the housing problem in the US does not apply to the UK
  7. They said in 2005 that there would be a crash because a lot of people who took out fixed rate mortgages in 2003 would suddenly befaced with higher mortgage repayments. They said in 2007 that there would be a crash because a lot of people who took out fixed rate mortages in 2005 would suddenly find that rates were higher. Neither has happened. In fact, this article says that mortgage approvals are still healthy! http://news.bbc.co.uk/1/hi/business/6252688.stm And for your infomraiton... the long term fixed rates are set by banks but they are VERY loosely related to what the bank of england
  8. What makes you think the UK follows the US 'always'? The major difference betweent he UK/US mortgage market is the fixed rate that UK buyers opt for while in the US it is mainly floating rate. This means it is easier for US mortgage holders to get 'caught out' if rates rise a few times in say a year. But in the UK even if rates rise... mortgage holders have a cushion period (2-3 years) to see that rates are rising... and figure out a way to re-organize their finances... even if they are unsuccessfull in organising their finances then they are still ok for the fixed period of 2 years say... a
  9. To add: The UK is experiencing its biggest boom in years. Businesses are doing well. The FTSE is flying (despite interest rate rises). The city is paying record bonuses. All this filters through and will push prices higher. Not only for those making the huge bonuses but also those who make very modest sums... they will just push up prices in the sub prime property market. The £ is at record highs against the $. Since many currencies are pegged to the dollar it is fair to say that the £ is strong compared to many currencies. As such all those people who have been investing in the UK (many of
  10. I dont believe it... I accept it. As does the majority in the country. Thats why prices are rising.
  11. Its just a website that prays off distressed sellers. There will always be distressed sellers. Not rocket science. Saying that it means the housing market is cooling/about to crash just because a few homeowners are struggling is laughable... there are 10 buyers waiting in line to buy each of those houses... BTLers, property developers... or people who can actually afford the place. No shortage of buyers whatsoever if you ask me. The fact that there are SO MANY people WAITING for the 'crash' is evidence that the market will not crash... as soon as prices ease off slightly... some will jump in
  12. Erm... do you REALLY believe that web site... like seriously dude... did it not... like... occur to you that it doesnt seem right... like... the website might be a distorted picture of the housing market and... like... totally misleading... no? Not fair to confuse reades that the next housing crash is looming with such weak evidence...
  13. Are you guys nuts? 1.3M for a 41 bedroom house?? £750 for an 11 bedroom??!! We wish!! That does not make sense... none of the houses that are being advertised make any sense. They are all BARGAINS. For £750 I dont expect more than 5-6 bedrooms. So if you think this is the beginning of the the crash then keep waiting as you all have been for the last few years. As long as people like me are happy to pay those prices you guys will continue to be left behind. And believe me... there is a generation out there who have accepted that houses cost several hundreds of thousands... certainly 7 figures f
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