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SarahBell

Letter In The Paper

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http://img188.imageshack.us/i/letteroldham.jpg/

Statistics from the Land Registry says house prices have fallen 22%

since peak in 2007. There's a lot of people refusing to accept this

though and their houses are the ones remaining on the market.

Close inspection of several properties for sale locally will find that

their sale board post has rotted away - surely that's a sign there's

something wrong with the price?

A report out says first time buyers need more help to get onto the

market. Surely house prices being lower and much more affordable would

be the biggest help to them? Back in June 2000 the average price of a

terrace house was £27,750. That was affordable for first time buyers!

We have been conned by a government with so many vested interest MPs

with second and third homes, buy-to-let portfolios and property

flipping ingrained that some people believe high house prices are a

good thing!

They are not!

No one applauds when the price of beans goes up, or the price of a new

car, but for some reason when the very thing we require to give us

shelter and safety goes up in price, people appear pleased.

This insanity must stop. Gordon's prophecy must be fulfilled - there

should be no more boom and bust - but only when the property bubble

has fully burst!

The market would correct itself less painfully for the general

population if quantitative easing is stopped and the shared ownership

schemes which allow people to buy 25% of a property is cancelled!

A sensible policy of building social housing and genuinely affordable

houses is needed - people need homes!

European Election results should have come as no surprise to the

Labour government.

Edited by SarahBell

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It doesn't matter what we write, or what people say on the tele.

This big ponzi scheme has left a whole nation deeply in debt, with nothing to show for it but a damning mortgage contract, a soul destroying career to fund it, and a future of indebtedness and austerity.

If we Brits were as noble as our national identity promotes itself, we would accept the financial hit and just get on with life.

But no, we are far too shallow, envious, insecure and bitter to get on with life. Instead, we demand that our politicians and business leaders do everything to perpetuate the madness that was property and lending market ca 2007.

Damn the torpedoes, we just want our pound of flesh, and fvck everybody else. Who cares if your kids have to live in squalor, who cares about your neighbour freezing inside of their McMansions because they can't afford to heat it. Fvck them all, right?

At the end of the day, or maybe just a few years from now, there will be a capitulation. But that will only happen when everybody realizes that it was all just an illusion. It will take a great deal of hardship for people to get up and look behind the curtain, but once the truth is out, we will have grown up a bit as a nation.

Edited by cashinmattress

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Good work Sara!

It's about the 4th or 5th - have lost count - but they've never used a picture before to enhance it before...

Just imagine if we all wrote letters - the whole of the uk covered in free papers would be greeted by anti HPI sentiment!

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Close inspection of several properties for sale locally will find that

their sale board post has rotted away - surely that's a sign there's

something wrong with the price?

Absolutely. They should pay the extra for a hardwood post.

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http://img188.imageshack.us/i/letteroldham.jpg/

Statistics from the Land Registry says house prices have fallen 22%

since peak in 2007. There's a lot of people refusing to accept this

though and their houses are the ones remaining on the market.

Close inspection of several properties for sale locally will find that

their sale board post has rotted away - surely that's a sign there's

something wrong with the price?

A report out says first time buyers need more help to get onto the

market. Surely house prices being lower and much more affordable would

be the biggest help to them? Back in June 2000 the average price of a

terrace house was £27,750. That was affordable for first time buyers!

We have been conned by a government with so many vested interest MPs

with second and third homes, buy-to-let portfolios and property

flipping ingrained that some people believe high house prices are a

good thing!

They are not!

No one applauds when the price of beans goes up, or the price of a new

car, but for some reason when the very thing we require to give us

shelter and safety goes up in price, people appear pleased.

This insanity must stop. Gordon's prophecy must be fulfilled - there

should be no more boom and bust - but only when the property bubble

has fully burst!

The market would correct itself less painfully for the general

population if quantitative easing is stopped and the shared ownership

schemes which allow people to buy 25% of a property is cancelled!

A sensible policy of building social housing and genuinely affordable

houses is needed - people need homes!

European Election results should have come as no surprise to the

Labour government.

which button did you press to get your post in the newspaper?

all my posts end up on this forum......

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which button did you press to get your post in the newspaper?

all my posts end up on this forum......

email@localpaper

It's easy.

Really.

Have a rant and then edit it. email it to letters page

they like a name and address but will allow a nom de plume!

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My ex-wife has been trying to sell her house for over a year.

Bought in mid 2004 for £335k (local HPI 250.7)

In April 2009 the local HPI was at 250.6.

She finally got an offer last week for £340K - which she turned down as 'derisory' :rolleyes:

I kept my mouth shut, telling her the truth just isn't worth the grief.

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Great letter, some mean old bears on here seem keen to see ordinary (but financially uninformed) folk suffer, but we really should be trying to get [what most bears believe to be] the truth out. I mean honestly, who was buying during the Spring Bounce (official motto: "Sign here for 15 years of negative equity?")? Genuine bulls who have looked at the numbers and their gut feeling is that things are stable or going to rise, fair play to them, but this isn't most punters. Most people trust what they hear from the BBC/national newspapers/ministers/EAs, almost all of whom no doubt have property investments to protect or political reasons for wanting to keep house prices high.

This site is great but kind of chaotic, and even though there is disagreement we could put together a side or two of A4 with a few graphs to show why house prices are still overvalued relative to incomes, what's going to happen when interest rates rise, the elimination of FTBs by HPI, what happened in previous crashes (for FTBs in their 20s and 30s who don't realise house prices can fall as well as rise) etc. Just 500-1000 words in plain English to explain what's going on, which we can forward to friends and family and which has some links to sources of real (non-EA-derived) information. The sooner everyone realises how far up to the neck in it we are, the sooner it can be sorted out.

Might have a stab at it in the next couple of weeks, suggestions welcome (especially the best datasets for graphs and what's likely to happen in the future with interest rates). We can do a few drafts until some kind of consensus emerges and it's ready for prime time.

P.S. Obviously this might be seen as 'talking the market down', talking it down off the ledge maybe.

Edited by bearly legal

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If you're not on oldham you could cut and paste it to your own local paper

doesn't cost a stamp.

use a pseudnym if you're shy.

just edit it so the price of a terrace in 2000 in your area is right :)

They all want an address though

so sign it

YOURNAME OR NICKNAME

YOUR AREA.

Real name and addres: not for publication

The guardian wants a phone number but never ring ime.

Edited by SarahBell

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