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House Price Crash Forum

Jim Pickard


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I like this guy.

Today his column talks about a bloke he met at a wedding with a £1m property portfolio who he describes as being like Bruce Willis in The Sixth Sense (Bruce was dead, he just didn't know it yet... :lol: )

He goes on to say:

My bet is that we will see a deluge of new-build flats returning to the market in the next few years. That - ironically - may represent a buying opportunity for otehr, more sophisticated players who are prepared to bide their time.

He's definitely a HPCer at heart.

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A couple of neat articles from today...

http://news.ft.com/cms/s/99a94848-f727-11d...000e2511c8.html

http://news.ft.com/cms/s/1baa5562-f728-11d...000e2511c8.html

I bet you the muppet with the 7 properties worth £1mil is going around telling his mates that he's a millionaire (he was telling a stranger about his property portfolio),

ignoring the fact that he's hugely over-geared, with vast debts, into the biggest bubble in history.

These guys will fall so fast they won't have a clue what's happened.

Edited by BandWagon
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A couple of neat articles from today...

http://news.ft.com/cms/s/99a94848-f727-11d...000e2511c8.html

http://news.ft.com/cms/s/1baa5562-f728-11d...000e2511c8.html

I bet you the muppet with the 7 properties worth £1mil is going around telling his mates that he's a millionaire (he was telling a stranger about his property portfolio),

ignoring the fact that he's hugely over-geared, with vast debts, into the biggest bubble in history.

These guys will fall so fast they won't have a clue what's happened.

Like they've been falling for years on end huh ? probably been falling for as long as you lot have been doom mongering huh ?? I mean this crash has been coming for ooh let me see 5-7 years ?? haha you YEAH RIGHT !!

You lot are as confused as a blindfolded lesbian in a fish market !

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Like they've been falling for years on end huh ? probably been falling for as long as you lot have been doom mongering huh ?? I mean this crash has been coming for ooh let me see 5-7 years ?? haha you YEAH RIGHT !!

You lot are as confused as a blindfolded lesbian in a fish market !

There may be professional help for your problems.

I suggest you seek it as soon as possible.

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Everytime I think I need a little help I get my mortgage deeds out and just stare at them knowing I haven't got to go through all that again and for one so young !

Honestly you can't beat that feeling - you ?

Me?

I think you are a loathsome self satisfied twit. Well...you did ask.

VP

Edited by VacantPossession
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DrBubb,

Have you seen the latest from CFC? Could be the beginning of problems in the MBS area if the intermediaries cannot offload the risk.

http://yahoo.reuters.com/financeQuoteCompa...14257580_newsml

Countrywide said its fast-growing bank arm had held onto billions of dollars of loans, instead of selling them.

The mortgage lender has traditionally made loans, and then quickly sold them to investors and realized the gain.

But with low rates having spurred several years of record lending in the mortgage industry, Countrywide is now holding on to more loans through its Countrywide Bank arm, said John Kichula, financial services analyst at Glenmede Trust Co. in Philadelphia.

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DrBubb,

If they can't pass on the loans their whole business plan goes up the chute, they have to shuffle billions of loans in and out of their accounts to make their margin, if they can't offload they can't do the business, don;t know what their underlying reserves are but it would be risky for them to offset those and they would probably run out very quickly anyway in providing extra collateral.

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