IntoTheStorm Posted August 28, 2009 Share Posted August 28, 2009 Great. Lets get house prices UP 1.6% EVERY month and let wages fall as they are doing now. Won't be long before a loaf of bread costs £100 and petrol.... well forget it.Excellent news that's coming out right now at present. It'll be even better when the next set of headlines say "Good news, energy prices increase". You'll not be able to keep warm, but hey, you've got your house so who cares Yes, I nearly peed myself laughing when this came out. I was away on a business trip in Scotland all of this week and had to try and explain to my bemused Dutch and Austrian colleagues who were also there what the logic of the 1.6% increase was. So your countries in the middle of the biggest recession ever, unemployment is skyrocketing, and yet you are paying more for your houses..? Eh, yeah guys thats how it works here..... I did explain the fact that volumes were through the floor, and basically all the sellers had stopped trying to sell their houses, which meant there was hardly anything out there for the few buyers who were in the market. The other joke of the week away was the Scottish pounds. A few years ago these used to remotely resemble the English versions but with just different pictures and the scottish banks names on them.. The new ones now are brightly coloured ones totally different to the english ones. Suspicions rose that Gordos QE programme had now extended to actually printing all this monopoly money and distributing it willy nilly out of the state banks RBS and HBOS to prime the economy with a trickle down effect from Gordos home turf.... Quote Link to comment Share on other sites More sharing options...
tpbeta Posted August 28, 2009 Share Posted August 28, 2009 Yeh, we're looking really silly aren't we, a slight blip helped along by record low interest rates and the printing of money and suddenly you guys thinks its back to HPI.... despite a barrage of negative economic data. You know it's perfectly possible that house prices will go up for a long time while everything else goes to hell. If the negative economic data you refer to is deflationary in its effect, the QE and ZIRP can continue for years. Indeed it could be that house prices spiral upwards even as the rest of the economy goes to hell as a result of the same HPI bubble, in a self perpetuating cycle. That is what we seem to be seeing at the moment. Personally I think May 2nd 2010 is when HPC will really start. Quote Link to comment Share on other sites More sharing options...
gimble Posted August 28, 2009 Share Posted August 28, 2009 You know it's perfectly possible that house prices will go up for a long time while everything else goes to hell. If the negative economic data you refer to is deflationary in its effect, the QE and ZIRP can continue for years.Indeed it could be that house prices spiral upwards even as the rest of the economy goes to hell as a result of the same HPI bubble, in a self perpetuating cycle. That is what we seem to be seeing at the moment. Personally I think May 2nd 2010 is when HPC will really start. Imagine some farm labourers in early 19th century Georgian England talking about how the cost of land has got even more silly and how it's against the fundamentals that the average farm labourer can't afford to buy his own acre of land to grow his own veg means that the cost of an acre of land simply has to fall... you know what I'm saying. I think we're slowly witnessing a social & economic change where power is returning to land owners from workers. I'm no V.I. by the way, I own nothing that doesn't fit in the back of a Vauxhall Astra. I'm just becoming increasingly pessimistic. The average joe bloggs is losing his economic freedom. Quote Link to comment Share on other sites More sharing options...
Bubble&Squeak Posted August 28, 2009 Share Posted August 28, 2009 (edited) Indeed it could be that house prices spiral upwards even as the rest of the economy goes to hell as a result of the same HPI bubble, in a self perpetuating cycle. That is what we seem to be seeing at the moment.Personally I think May 2nd 2010 is when HPC will really start. General election? Anyway... the current situation has to be viewed in the context of an ever losening monetary policy instigated by the CBs 2001 rates dropped to prop the markets after dot-com and 9-11 2005 rates dropped to stave off a drop in consumption and what many here believed was the start of HPC2 2009 now we are not only looking at IRs ~ 0% we are watching our CBs pump in funny money like there's no tomorrow. Anybody that doesn't get a sinking feeling in their stomach knowing this is brain dead and myopic IMPO... Edited August 28, 2009 by Bubble&Squeak Quote Link to comment Share on other sites More sharing options...
bateman Posted August 28, 2009 Share Posted August 28, 2009 thought I'd play you at your own game - hand picking the posts which are easy to answer and avoding the more difficult ones like wildfire, although you ask a lot of questions but answer very few! So no answer then? How come you never appear on threads which contain data to support the slump?.....Oh, of course, you're a troll! how about you list these questions - I don't have time to read every thread Didn't you buy a £500k house in 2006? At least that what you said back in 2007.You must be cacking yourself!!!! Imagine 20% coming off that!!! £100k of NE Yep, bought 4 bedroom house in london in 2006 for 500k. Today I have paid off 300k and have a mortgage of 200k. currently renting the house I bought out for much more than the mortgage - using all funds to pay down the debt. Wife and I earn about 200k a year so was 2.5 joint income Now that house can pay for itself I don't care about house prices - even with a 10% fall I have 250k of equity and the ability to earn much more money So, no, I am not 'cacking myself' - life has been good to me. www. used to be a good site but has since filled up with multiple ID trolls and fools who think that a small blip constitutes a full on HPI rally.co.uk LOL Yep - anyone that doesn't agree with exactly what you say is a troll! L is for LOSER Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted August 28, 2009 Share Posted August 28, 2009 This attitude always makes me laugh. 'Homeowners' always assume that people who rent do so because they cant afford to buy a house. A rediculous generalisation and often utter rot.My example. Household income £80k, including the wife working part time, in a career where annunal incremental wage rises are significant. Enough in the bank for 20% deposit on an average house. However, I'm currently renting in a lovely village with the best primary school in the area. Average house price in the village is roughly £400k, we pay £900 rent pcm. We could easily afford a 3-bed new build slave box in town, but why would we when our quality of life is much better where we are, and paying in rent about a third of the repayment mortgage. In 10 years time houses in the village will be affordable to us. Until then I refuse to participate in this Ponzi scheme or compromise my family's quality of life just so I can say I'm a 'homeowner'. I would rent to if I could get a 400k house at £900 a month, where are you renting, Here (Croydon) you would be looking at £1600-2000. Quote Link to comment Share on other sites More sharing options...
Bubble&Squeak Posted August 28, 2009 Share Posted August 28, 2009 (edited) So no answer then?how about you list these questions - I don't have time to read every thread Yep, bought 4 bedroom house in london in 2006 for 500k. Today I have paid off 300k and have a mortgage of 200k. currently renting the house I bought out for much more than the mortgage - using all funds to pay down the debt. Wife and I earn about 200k a year so was 2.5 joint income Now that house can pay for itself I don't care about house prices - even with a 10% fall I have 250k of equity and the ability to earn much more money So, no, I am not 'cacking myself' - life has been good to me. LOL Yep - anyone that doesn't agree with exactly what you say is a troll! L is for LOSER http://en.wikipedia.org/wiki/Troll_%28Internet%29 In Internet slang, a troll is someone who posts controversial, inflammatory, irrelevant or off-topic messages in an online community, such as an online discussion forum, chat room or blog, with the primary intent of provoking other users into an emotional or disciplinary response Just in case you weren't sure... fairly accurate description IMHO Edited August 28, 2009 by Bubble&Squeak Quote Link to comment Share on other sites More sharing options...
bateman Posted August 28, 2009 Share Posted August 28, 2009 (edited) How is that trolling? I was attacked and posted about my experience - all of which is true. And people that say i am a troll and must be 'cacking myself' are losers What is your story? Edited August 28, 2009 by bateman Quote Link to comment Share on other sites More sharing options...
bateman Posted August 29, 2009 Share Posted August 29, 2009 Ad hominem argument is most commonly used to refer specifically to the ad hominem abusive, or argumentum ad personam, which consists of criticizing or attacking the person who proposed the argument in an attempt to discredit the argument. It is also used when an opponent is unable to find fault with an argument, yet for various reasons, the opponent disagrees with it. http://en.wikipedia.org/wiki/Ad_hominem Quote Link to comment Share on other sites More sharing options...
Bubble&Squeak Posted August 29, 2009 Share Posted August 29, 2009 How is that trolling? I was attacked and posted about my experience - all of which is true.And people that say i am a troll and must be 'cacking myself' are losers What is your story? So the last three lines of your post don't fit the standard definition of trolling? I am not picking on you in particular... TBH I have just reached a pissed off threshold that has caused me to post into the sort of exchange that I would not normally bother to read past the first few pages. Many threads on HPC that start off with some good analysis and comment just descend into troll-ish name calling and abuse from both sides of the fence. This is a real shame and a missed opportunity for everyone to learn. We need to start looking behind the lagging indicators published by the various bodies and start looking at why we, the general public, are getting, in real terms, poorer and poorer in relation to life's necessities; housing, food and raising a family. The rest is inconsequential ******** Quote Link to comment Share on other sites More sharing options...
Bubble&Squeak Posted August 29, 2009 Share Posted August 29, 2009 http://en.wikipedia.org/wiki/Ad_hominem I am sorry but you lowered your own stake in the debate by resorting to name calling, in the hope of soliciting a equal or more heated response. Yep - anyone that doesn't agree with exactly what you say is a troll!L is for LOSER Quote Link to comment Share on other sites More sharing options...
Guest pioneer31 Posted August 29, 2009 Share Posted August 29, 2009 So no answer then? thought I'd play you at your own game - hand picking the posts which are easy to answer and avoding the more difficult ones like wildfire, although you ask a lot of questions but answer very few! how about you list these questions - I don't have time to read every thread No, you tend to just read mine and follow me about. I'm quite flattered actually! Wife and I earn about 200k a year so was 2.5 joint income Oh? I thought your joint income was £130k - well it was when you wrote post in 2007. Forgotten your own lies now? Yep - anyone that doesn't agree with exactly what you say is a troll!L is for LOSER Anyone who isn't a homeowner is a loser? Your turn! Quote Link to comment Share on other sites More sharing options...
Guest pioneer31 Posted August 29, 2009 Share Posted August 29, 2009 How is that trolling? I was attacked and posted about my experience - all of which is true.And people that say i am a troll and must be 'cacking myself' are losers What is your story? How many times have you told people to "get off their **** and get a better job"? Quote Link to comment Share on other sites More sharing options...
bateman Posted August 29, 2009 Share Posted August 29, 2009 Oh? I thought your joint income was £130k - well it was when you wrote post in 2007. It was in 2007, I have changed jobs since then Quote Link to comment Share on other sites More sharing options...
Brightwell Posted August 29, 2009 Share Posted August 29, 2009 LOLYep - anyone that doesn't agree with exactly what you say is a troll! L is for LOSER Lives in a £500,000 house, earns £200,000 a year, yet uses the LOL abbreviation like a giggling teenage girl. Strange that. Did you mean to log on to BeBo? Quote Link to comment Share on other sites More sharing options...
bateman Posted August 29, 2009 Share Posted August 29, 2009 Lives in a £500,000 house, earns £200,000 a year, yet uses the LOL abbreviation like a giggling teenage girl. Strange that. they would use lulz I think - haven't been onto bebo, more of a facebook kind of guy Quote Link to comment Share on other sites More sharing options...
Brightwell Posted August 29, 2009 Share Posted August 29, 2009 they would use lulz I think - haven't been onto bebo, more of a facebook kind of guy Good for you. Quote Link to comment Share on other sites More sharing options...
Guest pioneer31 Posted August 29, 2009 Share Posted August 29, 2009 Lives in a £500,000 house, earns £200,000 a year, yet uses the LOL abbreviation like a giggling teenage girl. Strange that. Did you mean to log on to BeBo? The avatar is a bit of a giveaway puerile. Quote Link to comment Share on other sites More sharing options...
grumpy-old-man-returns Posted August 29, 2009 Share Posted August 29, 2009 General election?Anyway... the current situation has to be viewed in the context of an ever losening monetary policy instigated by the CBs 2001 rates dropped to prop the markets after dot-com and 9-11 2005 rates dropped to stave off a drop in consumption and what many here believed was the start of HPC2 2009 now we are not only looking at IRs ~ 0% we are watching our CBs pump in funny money like there's no tomorrow. Anybody that doesn't get a sinking feeling in their stomach knowing this is brain dead and myopic IMPO... agreed, this keeps confusing me as to certain posters undying belief in sterling. Quote Link to comment Share on other sites More sharing options...
Grime- skint wouldbe ftb Posted August 29, 2009 Share Posted August 29, 2009 Well, we have just passed an 18 month window of economic opportunity. Someone I know very well sold almost 2 years back at the peak and has been biding time, just bought a new place last month at a knock-down price from developers and is £75,000 better off. Obviously not an FTB, but there are plenty property owners out there who are doing very well thankyou. Quote Link to comment Share on other sites More sharing options...
ExecutiveSlaveBox Posted August 30, 2009 Share Posted August 30, 2009 agreed, this keeps confusing me as to certain posters undying belief in sterling. Sat here in Oz earning AUD the latest UK house prices look completely ridiculous. Sterling is tanking against the Oz dollar and from my perspective these rises are simply not happening. Just a shame none of the proles can actually see what's really happening to their wealth and are fixated on assets valued in monopoly money. Fools paradise = UK. Quote Link to comment Share on other sites More sharing options...
Dr Renter Posted August 30, 2009 Share Posted August 30, 2009 (edited) I would rent to if I could get a 400k house at £900 a month, where are you renting, Here (Croydon) you would be looking at £1600-2000. Village on the outskirts of Bath. Rental market is pretty much student-dependent, so if you pick an area where students don't rent you can get a pretty good deal. The fact that I signed up in February helped, as rental prices were tanking in a big way. Edited August 30, 2009 by Dr Renter Quote Link to comment Share on other sites More sharing options...
grumpy-old-man-returns Posted August 30, 2009 Share Posted August 30, 2009 Sat here in Oz earning AUD the latest UK house prices look completely ridiculous. Sterling is tanking against the Oz dollar and from my perspective these rises are simply not happening. Just a shame none of the proles can actually see what's really happening to their wealth and are fixated on assets valued in monopoly money.Fools paradise = UK. I like it. Quote Link to comment Share on other sites More sharing options...
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