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House Price Crash Forum

Sub-Optimus Prime

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About Sub-Optimus Prime

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    HPC Newbie
  1. Quick post... Deloitte Economics (Bootle) reckon house prices down 5% this year and 8% next. http://news.bbc.co.uk/1/hi/business/7212545.stm Get yourself a nice little Northern Rock buy-to-let mortgage....at 85% LTV...spend (its not investing) 15% on deposit plus purchasing costs of 2%+ and furnishings 3%. By end of next year you've lost 130%+ of your money...If rent doesnt cover costs you've lost well over 150%. Bootle doesnt even think we're going to have a recession. Bootle is an optimist! What would your return be if we weren't? Of course when I say "you" in our little hypothetical I don't mean "you" as in the well-informed, intellectually aware, morally upstanding members of the community that are reading this. I am referring to the short-sighted, blinkered, wishful thinking, armchair investing, lumpen ignoramiat. 100,000s will buy-to-let this year, 100,000s more did last year and will suffer the same consequences. If they buy, they will lose. If they have bought already, they will lose. Our families will suffer for their ignorance. Keep spreading the word. This isn't the end of the beginning, this is the beginning of the end. By the time the Western world comes out of this depression think about what our politicians will look like. Think about the powers they already have vested in them and those they will seek in response to this unfurling nightmare. The West is surrendering its power and influence to the East. It isnt the East we should be afraid of but the reaction of our own Governments. See you soon...
  2. Amigo, Does one not remember the Spring of 2004....when reason returned to the Bank of England...and they raised interest rates not once not twice but thrice...(Feb/May/June)....then you joined HPC they raised once more then hid in the hills untill 2005 when they cuttem back down again. Globally warmed regards, Sub-Optimus Prime
  3. Want to bet your house on it? Second thoughts....make that a loaf of bread and a pint of milk cos they're only things going up in value this side of Christmas
  4. Unfortunately it is. The top was reached some time back now. A lucky few will of course still be able to get higher prices in the medium term than they could this spring....but it is the majority that counts. To put this into perspective....the average household lost £200 per day over the last month.
  5. I've seen the real figures and I suggest that wrongmove has made the rightmove. BTW most of the falls were in the final week...this is accelerating. Monday is also the most important day so far in the credit crisis...£70bn debts need to be refinanced in the City...good timing huh
  6. Bears please bear in mind that the last few months have seen price increases of 0.3-0.8% per month.
  7. London is pretty much the same as the rest of the country - so we are talking across the board. South-West is the lowest region Camden lowest in London Kensington and Chelsea / Docklands - best in London
  8. Not out until Monday morning. I've seen them...its not pretty and its not not negative. It would be bad form to disclose the exact figures but I suppose if someone were to guess I could confirm their suspicions!
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