Tomlad Posted July 19, 2009 Share Posted July 19, 2009 Funnily enough, I don't take pleasure in the widespread suffering of others. I fully expected the crash to happen, and as a potential FTB who has held off so far, I've made the right decision. Life in the UK is going to get very uncomfortable before it gets any better (if it ever does). Why anyone should revel in such missery is beyond me. Lets face it, the downturn isn't just affecting the BTL muppets or those who drive ridiculous BMW 4x4s. It's affecting some decent, hardworking people, who are in for a very rough ride. Quote Link to comment Share on other sites More sharing options...
Guest An Bearin Bui Posted July 19, 2009 Share Posted July 19, 2009 I can't honestly say that I'm enjoying the crash. I would just prefer if the bubble had never really happened in the first place and we could all have just got on with our lives. The bubble was bad enough but to think that governments worldwide are trying to stop reality from happening by printing money and laying a massive tax burden on future generations (i.e. me and my future children) is just depressing beyond words. I wish it had all never happened. A mild housing boom was inevitable after 2001 because house prices were relatively undervalued in the 1990s and we were due some cyclical uptick in house prices anyway but it all got insanely out of control due to securitisation and government complicity. It should never have been allowed to get as crazy as it did and we'll all be paying the price in one way or another for years to come. Now I know too many people my age who are losing their jobs as architects, are raising their first chid in a poky flat they can barely afford or who are living off credit cards: I hope not to be one of them as I have a good secure job and a business on the side that earns good money and about 70k set aside as a deposit for when I do buy but it doesn't make me that smug really considering how ******ed up the world economy will be for years now. Western economies are signing up to their own death warrants and for what? A poxy 3-bed semi-d with magnolia walls in some non-entity suburb of nowhere... :angry: Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted July 19, 2009 Share Posted July 19, 2009 Yes. It's come to a grinding halt.Positive HPI for 2009 is a distinct possibility. Quote Link to comment Share on other sites More sharing options...
MOP Posted July 19, 2009 Share Posted July 19, 2009 Yes. It's come to a grinding halt.Positive HPI for 2009 is a distinct possibility. Hello Rinoa. Quote Link to comment Share on other sites More sharing options...
silver panda Posted July 20, 2009 Share Posted July 20, 2009 (edited) Yes. It's come to a grinding halt.Positive HPI for 2009 is a distinct possibility. A 1% chance is a distinct possibility. So is a 0.1% chance and a 0.01% chance. Edited July 20, 2009 by silver panda Quote Link to comment Share on other sites More sharing options...
Kazuya Posted July 20, 2009 Share Posted July 20, 2009 Hello Rinoa. DINOA! Quote Link to comment Share on other sites More sharing options...
Fairies Wear Boots Posted July 20, 2009 Share Posted July 20, 2009 Yes. It's come to a grinding halt.Positive HPI for 2009 is a distinct possibility. A 1% chance is a distinct possibility.So is a 0.1% chance and a 0.01% chance. Normal service will be resumed shortly. Quote Link to comment Share on other sites More sharing options...
General Congreve Posted July 20, 2009 Share Posted July 20, 2009 (edited) I'm very happy with the crash, but it isn't happening fast enough. The one problem I have with the whole thing is the fact we're going to see an exponential increase in the legions of chav scum on our streets. Edited July 20, 2009 by General Congreve Quote Link to comment Share on other sites More sharing options...
Prof Posted July 20, 2009 Share Posted July 20, 2009 Im only hearing about poor sods losing their jobs (working class poeple). However I wouldnt betting theres plenty of people (whos sh!te don't stink) getting worried, but its don't show on the surface. I heard of one couple, who have a great big house (you would of thought they were loaded) but the TAX for the BIG 4x4 will have to wait, so they got the bus The price of food is still rsing, along with almost everything else I buy, so how the hell inflation is dropping, I do not believe. Work is getting tighter and tighter (electrician). The outlook in the real world is rather crap if you ask me. If house prices do not carry on dropping, ill be surprised, because all household costs are going up, and jobs are being lost, wages are not rising. Its a vicious circle and self feeding, and I believe the worst is still lurking, however people do not do their homework, they listen to the experts in governement. Well all those ministers in government, have plenty of money put to one side, so they won't suffer. But they encourage everyone else to go and spend, to keep the bubble enflated. The banks won't lend, nor would I and nor would they, so who in their right mind would lend money, when the odds against getting it back, only a FOOL Yep. Pretty well the same experience/thoughts here. I`m an aerial installer. The workload has been very low over the past 12 months. Picking up a bit at the moment, but I don`t follow the media line that this is "green shoots". I think things will remain pretty much the same for another year or two (or get worse). I would think that most people who are employed directly by "Joe Public" are finding the same. Yes, a few extra houses are selling, for maybe a bit more than they would have done 6 months ago, but this means very little. We haven`t seen much in the way of public sector redundancies, in fact, all I hear is some public sector workers whinging about only getting 2% pay rises. They really do live in their own little world. I`m "enjoying" the crash in one way, I prepared myself for it. I`m enjoying some time off for the first time in 20 years, and it means I can spend some time enhancing my education. As long as the crash doesn`t continue for too long, I`m not too bothered by it. I`m just hoping that those who basked in the boom, will get what they deserve, but it seems the government are hell bent on "justice" taking place. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted July 20, 2009 Share Posted July 20, 2009 Well, can't say it total enjoyment, but rather good fun seeing the 4X4 types looking a bit worried about lack of income & having to "Feed" the SUV. Just wait till next year when they find its almost £500 a year just to Tax & ( i suspect) Fuel costs have rocketed!The death of "Bling" is very close to hand.........i hope. Mike I have just signed up for a new place to rent east of Brighton and the EA was complaining that his 4 year old black Rangerover Vogue was only worth 12k after having paid 55k for it 4 years ago! I am enjoying the housing crash so far but look forward to the ledge crumbling and the second phase of even more rapid price declines kickin in. Sadly, on the back of massive unemployment and assett price deflation. Hell awaits for leveraged homeowners and anyone in BTL. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted July 20, 2009 Share Posted July 20, 2009 (edited) Edited July 20, 2009 by Realistbear Quote Link to comment Share on other sites More sharing options...
Neverland Posted July 20, 2009 Share Posted July 20, 2009 Im amazed by the level of misanthropy (sp?) and gloating on this thread Oh well... I'm glad I saved a lot of money during the good times Just picking the time to go back into various markets and out of cash and bonds However, I'm amazed at the amount of money other have borrowed For this reason alone, I think we will be in recession a bit longer than most forecasters think Quote Link to comment Share on other sites More sharing options...
Neverland Posted July 20, 2009 Share Posted July 20, 2009 I quite enjoy reading the frequent posts by nervous STR and FTB asking for advise on here as to whether they should wait longer or buy now. Well to be fair, by saving they played a smarter game than those mortgaged to the eyeballs? Now its just a question of waiting... but I think it will be a long wait The banks appear to be in no rush to take their losses on the chin From what I've read on here though, renting from Kevin Chav & Associates isnt much fun Quote Link to comment Share on other sites More sharing options...
HAIR BEAR CRUNCH Posted July 20, 2009 Share Posted July 20, 2009 I quite enjoy reading the frequent posts by nervous STR and FTB asking for advise on here as to whether they should wait longer or buy now. ADVICE IS WITH A CEE MAN Quote Link to comment Share on other sites More sharing options...
t350chunder Posted July 20, 2009 Share Posted July 20, 2009 Most of you on here are ultimately the losers regardless of what you pay for your house and when you pay for it. Some of you are consumed and obsessed by it and sound really quite bitter. Your smugness and back slapping regarding a HPC (that has completely lost momentum) is just as sickening as listening to those people harping on about HPI a few years back. Yes there had to be some adjustment, and yes HPI has almost ruined this country but reading your posts on here, you're just as bad. You're just on the other side of the fence... Quote Link to comment Share on other sites More sharing options...
Maggot_with_halitosis Posted July 20, 2009 Share Posted July 20, 2009 Crash? What crash? The bursting of the bubble should have been wonderful - the invisible hand of the of the market punishing the reckless, the feckless, the stupid and the greedy. Unfortunately this simply hasn't happened where it really counts: - Reckless and greedy banks have been bailed out by the taxpayer through an astonishing rescue deal. Incredibly, some banks are now reporting profitability. Don't expect any of that to be returned to the taxpayer though. Oh and bonus culture in financial organisations appears to be making an unhealthy comeback. - Reckless and greedy borrowers have been indirectly bailed out by the taxpayer by an astonishing slashing of the central bank's base rate. This implies that no-one in financial services really cares about "moral hazard" and it is only a matter of time before the next credit bubble. - Institutional corruption - typified by the MP's expenses scandal - is rife. Turns out that it always has been and one would have to be a naive fool to expect any change in future. This isn't a crash, it's foreplay. Just wait until UK gilts get downgraded. Then we'll see the crash proper. Quote Link to comment Share on other sites More sharing options...
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