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House Price Crash Forum


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About Lion

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    HPC Regular
  1. Bring it on! A drop to -1% means I will pay no interest anymore on my already very cheap lifetime repayment tracker. And if it drops below that, the bank will pay some of the capital off for me on top of my repayments (unless they ruled this out somewhere in their small print, but I think they forgot). I promise I will use the unexpected additional money to boost the economy (refurbish the house and buy a new car for instance), so it is a win-win situation for me and the economy. And for the people who complain that savers would be hit - yes they will, and rightly so. The tough truth is, wh
  2. Some alternative suggestions (and yes, I am almost serious): Join the Eurozone Join Schengen Abandon the nuclear weapons programme Dissolve the monarchy and the UK government Give all powers that can be delegated downwards to regions and councils Make aristrocracy (incl. their titles) illegal, nationalise their estates to be used for building houses on them where appropriate Sell the Falkland islands and similar overseas possessions - they are a relict of a time gone by Scrap public pensions (replace them with defined contribution pensions)
  3. I was waiting for a number of years to sell a piece of unwanted and bent gold jewellery (containing 5.6 g of pure gold). I now call the (near) top of the market, so I sold it yesterday for £170 (for more than £30/g gold). The proceeds will go into my share account (which is invested 60% abroad and 40% in the UK). If I am wrong it was at least not a significant amount ;-)
  4. I know that high house prices are not in my favour, as I earn a good wage and I could have an even better house by now if house prices had not inflated so much. But as things stand, I am better off having purchased a home in 2004 when this site warned me not to do so. I just made the best out of a bad situation. I am not a real winner, I just decided to join the madness when I realised I cannot beat it. And now after a almost decade has passed and I am happy I did that - I would otherwise have waited nine years just to realise things are even worse now in London than back in 2004.
  5. I started to read this site in 2003, and joined in 2004. Yes, this is how long back HPC predicted doom in London (and maybe even longer). Like many I had to make a decision: To buy or not to buy. A decade ago I was a potential FTB with just ~5% deposit in London, and most on this site advised me to hold out a few years until prices collapsed. I did not believe it, bought a flat in 2004, and the rest is history: After selling the flat with huge profit a few years later we moved to a nice London suburb and bought a semi. Since then prices have increased further in our area. Renting was never che
  6. unless they are prepared to scrap final salary public pensions (and move to a contributory system like most of the private sector) they can do what they want - debts and deficits will EXPLODE until the system (or should i say the middle class) breaks down as no more tax can be squeezed out of it. printing money will not help as these pensions are linked to inflation.
  7. For £1.5m you get a house where the guest toilet is in your study!
  8. We made a compromise and moved to a leavy suburb (in North London, in walking distance to a tube station) when we came to the UK in 2000. Back then, one of us needed the tube to study at Imperial College. We then started to like the areas at the end of the Piccadilly Line, and although we no longer need the tube - our company is even further out, so we go there by car - we stayed here and now raise a family here. We like London, particularly because of the cultural mix (we are immigrants ourselves). Our income was initially even lower than your's when we bought our flat in 2004, but we were co
  9. Silvercrest There are winners and losers. It is to simplistic to say QE benefits the bad and punishes the good. In any case, people may have different opinions who is good (and therefore deserving) and who is bad. As a relatively young family we have a large mortgage. The current low interest rates benefit us (we are on a cheap BOE lifetime tracker). What we save, goes mainly into shares (private pensions, ISAs), which are doing well thanks to QE. The interest savings we make on our mortage allow us to put even more into our ISAs and pension funds, and we can also refurbish and extend our
  10. The pound has been dropping a lot recently against major other currencies, like the Euro. Many FTSE companies have international exposure, so their value in Sterling should go up if Sterling goes down. But then also the DAX has been going up, so who knows. Maybe it is all the QE finally feeding through. My wife will now buy a small new car with some of the gains she made with her Share ISA recently. Probably a good time to realise at least some of the profits.
  11. The semi we bought 2011 in a North London suburb was £4240/m2. This does not include a single garage and a boarded loft storage space. It seems to be pretty much the average price in our area, as houses with the same number of bedrooms that were larger were als more expensive, so the price per sm was probably about the same. The cost to build a good extension is about £1800/m2 - so less than half of the going selling price per sm. Now there is a thought... Anyway, it should be a legal requirement to state the price per m2, and there should also be binding rules how the area is determined (a
  12. My party came only 4th in the last EU elections (in the UK), and yet they sent 2 MEPs from my city alone to the EU parliament, and are now in the third largest fraction of the EU parliament. I know what they stand for and even remember their names. So I think I got a pretty good representation there and cannot complain. Had this been national elections I would not have got any representation, due to the unfair first pass the post system. I agree that the EU has still deficits when it comes to accountability and democracy, but I am sure it will be improved over time.
  13. Switzerland and Norway are actually very integrated in the EU - did you know that both are even members of the Schengen countries (so there are not even passport checks when you travel from the EU to Switzerland)? They are also both net payers to the EU cohesion fund, in return for various bilateral agreements. Additionally, they have to implement many EU rules without having a say in them. So they are net payers with no real borders who have EU rules imposed on their industry - hardly good examples to use as an argument how good life is outside the EU? It may be good, but only if you particip
  14. The fewer negotiation partners there are on the table when the real decisions are made the better it is (after all, this is not a parliament - there might be many UN members, but most of them carry no weight). In my opinion Europe should mainly be represented by one powerful representative who is at eye level with the US and China. These three matter currently, then Russia and (in future) India, and if Britain leaves then maybe Britain. Britain will not influence much, but the EU just might.
  15. Yes, I realised it, hence the second e-mail about the weather (rain). Anyway, I don't know if such an office even exists. My only current involvement in politics is that I support a political party and participate in the elections of the their various candidates (but otherwise I spend very little time supporting them). And I campaigned in the US for Obama's first election (mainly trying to get first time voters to enrol to vote), as I was transferred to work there as part of my job for a period in 2008, so I am used to involve myself in political discussions in countries where I am not even e
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