Lander Posted August 15, 2009 Share Posted August 15, 2009 This is a warning of things to come in the UK imo. Anyone thinking of loading up on an insane amount of debt to buy a house in a recession which is turning into a depression is going to get pummeled, and deservedly so. Wake up sheeple! Quote Link to comment Share on other sites More sharing options...
57percent Posted August 15, 2009 Share Posted August 15, 2009 I would've thought the US is nearing the bottom, maybe another 10% to go. The UK has so far left to fall. Quote Link to comment Share on other sites More sharing options...
jaydee Posted August 15, 2009 Share Posted August 15, 2009 This is a warning of things to come in the UK imo. Anyone thinking of loading up on an insane amount of debt to buy a house in a recession which is turning into a depression is going to get pummeled, and deservedly so. Wake up sheeple! Thanks for posting from a source close to the 'action'. Sadly some stupid people will get sucked in - they will have to make our own mistakes to properly learn the lesson. Quote Link to comment Share on other sites More sharing options...
Lander Posted August 15, 2009 Author Share Posted August 15, 2009 I would've thought the US is nearing the bottom, maybe another 10% to go. The UK has so far left to fall. House prices declines in the US accelerated to a record 15.6% in the 2nd quarter. This thing is far from over. bloomberg Quote Link to comment Share on other sites More sharing options...
impatient_mug Posted August 15, 2009 Share Posted August 15, 2009 (edited) Last Warning* If You Buy A House - You Are Going To Get Killed! So if someone buys a house for cash tomorrow they are going to die? What manner of death? Murder, accident or natural causes? Talk me through that one because it sounds a little odd to me Edited August 15, 2009 by impatient_mug Quote Link to comment Share on other sites More sharing options...
Guest happy? Posted August 15, 2009 Share Posted August 15, 2009 Last Warning* If You Buy A House - You'll have somewhere to live. Quote Link to comment Share on other sites More sharing options...
Kazuya Posted August 15, 2009 Share Posted August 15, 2009 It's too late for Daddy Bear. Quote Link to comment Share on other sites More sharing options...
Lander Posted August 15, 2009 Author Share Posted August 15, 2009 So if someone buys a house for cash tomorrow they are going to die? What manner of death? Murder, accident or natural causes? Talk me through that one because it sounds a little odd to me Yeah his video title is a bit emotive but he refers to people thinking of taking a mortgage out to buy, not cash buyers Quote Link to comment Share on other sites More sharing options...
Lander Posted August 15, 2009 Author Share Posted August 15, 2009 Last Warning* If You Buy A House - You'll have somewhere to live. until u get repoed.... Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted August 15, 2009 Share Posted August 15, 2009 i love that guy 'look at the properties, look at those properties' blatant property voyeurism. Quote Link to comment Share on other sites More sharing options...
AvidFan Posted August 15, 2009 Share Posted August 15, 2009 i love that guy 'look at the properties, look at those properties' blatant property voyeurism. So true. I prefer the chap with the baseball bat and the Chinese microwave hanging from his garage ceiling. Quote Link to comment Share on other sites More sharing options...
twatmangle Posted August 15, 2009 Share Posted August 15, 2009 This is a warning of things to come in the UK imo. Anyone thinking of loading up on an insane amount of debt to buy a house in a recession which is turning into a depression is going to get pummeled, and deservedly so. Wake up sheeple! It says Preparing Americans for Hyperinflation, and the user is called InflationUS. Sounds like cash buyers should be buying houses then. Daddy bear is right. Quote Link to comment Share on other sites More sharing options...
Guest Daddy Bear Posted August 15, 2009 Share Posted August 15, 2009 It says Preparing Americans for Hyperinflation, and the user is called InflationUS.Sounds like cash buyers should be buying houses then. Daddy bear is right. I'm gutted I bought in 97 upsized on the way and sold mortgage free in Aug 2007 After two years of renting I bought back in wih a >60% deposit at 32% off peak on a 10 year fix at 4.99% OH NO WHAT SHOULD I DO ?? actually come to think of it I might be OK... especially if USD continues its devaluation - or US govt. declares a bank holiday and does a formal devaluation of dollar overnight... stranger things..... Quote Link to comment Share on other sites More sharing options...
twatmangle Posted August 15, 2009 Share Posted August 15, 2009 I'm gutted I bought in 97 upsized on the way and sold mortgage free in Aug 2007After two years of renting I bought back in wih a >60% deposit at 32% off peak on a 10 year fix at 4.99% OH NO WHAT SHOULD I DO ?? I'm in a similar position to you, the main difference is that I earned my money Quote Link to comment Share on other sites More sharing options...
Lander Posted August 15, 2009 Author Share Posted August 15, 2009 I'm gutted I bought in 97 upsized on the way and sold mortgage free in Aug 2007After two years of renting I bought back in wih a >60% deposit at 32% off peak on a 10 year fix at 4.99% OH NO WHAT SHOULD I DO ?? actually come to think of it I might be OK... especially if USD continues its devaluation - or US govt. declares a bank holiday and does a formal devaluation of dollar overnight... stranger things..... Do you have any more info on this? Should I be loading up on PM's? Quote Link to comment Share on other sites More sharing options...
bagsos Posted August 15, 2009 Share Posted August 15, 2009 I'm gutted I bought in 97 upsized on the way and sold mortgage free in Aug 2007After two years of renting I bought back in wih a >60% deposit at 32% off peak on a 10 year fix at 4.99% OH NO WHAT SHOULD I DO ?? actually come to think of it I might be OK... especially if USD continues its devaluation - or US govt. declares a bank holiday and does a formal devaluation of dollar overnight... stranger things..... +1. Me and the miss are happily mortgage free and saving like mad for our move out of the country...........to Oz. All spare funds will be in AUD soon...... Quote Link to comment Share on other sites More sharing options...
bagsos Posted August 15, 2009 Share Posted August 15, 2009 I'm in a similar position to you, the main difference is that I earned my money More fool you. Quote Link to comment Share on other sites More sharing options...
bill still Posted August 16, 2009 Share Posted August 16, 2009 It think the reciprocal is true. In the US, the Fed has more tools, and more avenues for money to keep the bubble from collapsing as fast as perhaps it has for the UK. About Christmas time, credit card debt will hit the skids. Next year, Adjustable Rate Mortgages will hit home. This is not pretty at all over here despite the Fed cheerleaders in the media trying to wish for a return by the "consumer" to previous spending levels and the consequent debt. I would've thought the US is nearing the bottom, maybe another 10% to go. The UK has so far left to fall. Quote Link to comment Share on other sites More sharing options...
ukreturner Posted August 16, 2009 Share Posted August 16, 2009 +1. Me and the miss are happily mortgage free and saving like mad for our move out of the country...........to Oz. All spare funds will be in AUD soon...... I wouldn't be so smug. You're leaving jobs to move to a country with the most overvalued real estate in the western world and converting your savings into a currency at record highs? I ask because I am making the opposite move for financial reasons! Quote Link to comment Share on other sites More sharing options...
ibmtypewritergirl Posted August 16, 2009 Share Posted August 16, 2009 Very true.The US went though its shock-point a year or two ago. The shockpoint for the UK is still in the future. Having said that, homes in place like the outer ring suburbs may fall much more than 10% in the US.They might even fall as much as house prices will in the UK What is meant by a 'shock point'? What is a 'shock point' apart from a wall socket? Quote Link to comment Share on other sites More sharing options...
ibmtypewritergirl Posted August 16, 2009 Share Posted August 16, 2009 Good Video and George is a bit of funny boy. "Nobody listens to me about real estate because I don't own a house - I'm just a loser with a camera.' Quote Link to comment Share on other sites More sharing options...
roman holiday Posted August 16, 2009 Share Posted August 16, 2009 Last Warning* If You Buy A House - You'll have somewhere to live. I thought it was a good video.... until we got to the hyperinflationary bit at the end. I agree, securing a property makes sense, but not just yet, protect capital in stonger currencies, sit back and watch deflation, make an embarrassing offer in a few years. Quote Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted August 16, 2009 Share Posted August 16, 2009 Last Warning* If You Buy A House - You Are Going To Get Killed! It's too late for Daddy Bear. Quote Link to comment Share on other sites More sharing options...
Boughtin95 Posted August 16, 2009 Share Posted August 16, 2009 I'm gutted I bought in 97 upsized on the way and sold mortgage free in Aug 2007After two years of renting I bought back in wih a >60% deposit at 32% off peak on a 10 year fix at 4.99% You seem to be happy with your decision, I hope it works out well for you. I bought in Q4 of 1995 with a 25% deposit and was mortgage free in five years. The house was exactly what we wanted and we are still very happy here. I find it difficult to understand why you would go from being mortgage free to being back in debt, isn't that defeating the purpose of STR? Quote Link to comment Share on other sites More sharing options...
Normal Posted August 16, 2009 Share Posted August 16, 2009 I find it difficult to understand why you would go from being mortgage free to being back in debt, isn't that defeating the purpose of STR? I find it even stranger that he believes there will be hyperinflation yet has a mortgage at less than 40% of the house price. If he's so certain, why not get the biggest mortgage available and stick his money in the yellow stuff? Quote Link to comment Share on other sites More sharing options...
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