eric pebble Posted May 6, 2006 Author Share Posted May 6, 2006 (edited) Thanks Baffled...... The huge bubble gets ever bigger....... armagedon in 2007? 2008? It WILL happen! Well!: Saturday 6th May: -- It looks closer now as finally uk populace wake up and stamp on our loony government - a govt. which has stood by and watched as the VI's screw our economy by screwing us day in day out, ..... Edited May 6, 2006 by eric pebble Quote Link to comment Share on other sites More sharing options...
CrashIsUnderWay Posted May 6, 2006 Share Posted May 6, 2006 Eric, I have always enjoyed your posts, and the excellent way you raise the spectre of common sense over the sweating heads of the VIs. This thread should be pinned! Quote Link to comment Share on other sites More sharing options...
eric pebble Posted May 6, 2006 Author Share Posted May 6, 2006 (edited) Eric, I have always enjoyed your posts, and the excellent way you raise the spectre of common sense over the sweating heads of the VIs. This thread should be pinned! Thanks Crashed!: It was pinned some time ago I think- - I must apologise a bit - I have been banging on banging on etc etc.. BUT -- I have been doing this for well over 3 years!!! I am SO SO frustrated that people [friends, relations etc. - people I know!!] are so STUPID - and they can't see it all for what it is -- a MASSIVE HUGE BUBBLE/PYRAMID SELLING SCAM!!! It is SO SO obvious -- and the MONEYLENDERS are STILL fueling the whole thing -- lending FRAUDULENTLY -- it makes me SICK. That BBC2 Money Programme about Mortgage Fraud really brought it home to me how the whole "market" is RIGGED by the moneylenders who just lend lend lend whatever the cost/price - IRRESPECTIVE of income -- it is CRIMINAL. I am finally, finally feeling vindicated after all these years. It is going to be PAIN as people FINALLY wake up and smell the coffee -- the World's Biggest EVer Pyramid Selling Scam will show itself for what is REALLY is - and WHO is going to pay? WILL the perpetrators go to jail? Enron - the equivalent FRAUD in the US - people go to jail for lying and manipulating accounts..... SAME should apply to the so called "HOUSING MARKET". It is TOTALLY RIGGED.......... The moneylenders have done this with their friends and colleagues - Estate Agents, Housebuilders, "Developers" etc etc etc. THEY ARE ALL THE SAME PEOPLE. They build, they HYPE, they LEND YOU THE MONEY/LET YOU SIGN YOUR LIFE AWAY to buy what THEY HAVE HYPED!!!! It's sick. Edited May 6, 2006 by eric pebble Quote Link to comment Share on other sites More sharing options...
cupidstunt Posted May 6, 2006 Share Posted May 6, 2006 Thanks Crashed!: It was pinned some time ago I think- - I must apologise a bit - I have been banging on banging on etc etc.. BUT -- I have been doing this for well over 3 years!!! I am SO SO frustrated that people [friends, relations etc. - people I know!!] are so STUPID - and they can't see it all for what it is -- a MASSIVE HUGE BUBBLE/PYRAMID SELLING SCAM!!! It is SO SO obvious -- and the MONEYLENDERS are STILL fueling the whole thing -- lending FRAUDULENTLY -- it makes me SICK. That BBC2 Money Programme about Mortgage Fraud really brought it home to me how the whole "market" is RIGGED by the moneylenders who just lend lend lend whatever the cost/price - IRRESPECTIVE of income -- it is CRIMINAL. I am finally, finally feeling vindicated after all these years. It is going to be PAIN as people FINALLY wake up and smell the coffee -- the World's Biggest EVer Pyramid Selling Scam will show itself for what is REALLY is - and WHO is going to pay? WILL the perpetrators go to jail? Enron - the equivalent FRAUD in the US - people go to jail for lying and manipulating accounts..... SAME should apply to the so called "HOUSING MARKET". It is TOTALLY RIGGED.......... The moneylenders have done this with their friends and colleagues - Estate Agents, Housebuilders, "Developers" etc etc etc. THEY ARE ALL THE SAME PEOPLE. They build, they HYPE, they LEND YOU THE MONEY/LET YOU SIGN YOUR LIFE AWAY to buy what THEY HAVE HYPED!!!! It's sick. Calm down dear - it's only a housing bubble - and I'll burst soon. Quote Link to comment Share on other sites More sharing options...
winkie Posted May 6, 2006 Share Posted May 6, 2006 All good things come to those who wait... what's the rush...go with the flow...and enjoy your youth and freedom while you can...life is too short. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted May 6, 2006 Author Share Posted May 6, 2006 Calm down dear - it's only a housing bubble - and I'll burst soon. Mortgage customers 'urged to lie' - http://news.bbc.co.uk/1/hi/business/3222053.stm Self-cert mortgages could skew market - http://news.bbc.co.uk/1/hi/business/3478635.stm The Great Mortgage Fraud”, “advising customers to break the law” - http://www.clarkewillmott.com/services/fin...tml?Article=777 Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted May 6, 2006 Share Posted May 6, 2006 FTBs should reflect on what previous generations paid for property.In 1966 my fathers best friend bought a row of tenanted houses five in total for five hundred pounds in a Peak District village.(5000 in2006 money)At the same time he paid two hundred pounds for a three piece suite.(2000 in 2006 money)These cottages now sell for upwards of 250k each.Who is the bigger fool our consumer durable obsessed grandparents who value a three piece above a tenanted housing unit or todays FTB who is prepared to pay three piece suite times 500 for the same housing unit admittedly with vacant possession.We are now at the tulip mania stage of the cycle where property bears no relation to its true worth. Quote Link to comment Share on other sites More sharing options...
bring_it_on Posted May 6, 2006 Share Posted May 6, 2006 All good things come to those who wait... what's the rush...go with the flow...and enjoy your youth and freedom while you can...life is too short. Exactly, FTB's reading this thread and thinking it makes total sense should just sit back and watch it all unfold and be thankful they aren't yet on the gravy train. Save as much as you can but most of all enjoy yourself, after all you only live once so who wants to be dishing out 50% of your monthly take home on an overpriced house when you can rent the same place for probably 30% less than a repayment mortgage. If you can save the difference then great, when the market gets back to sane levels you'll have a decent deposit, a nicer place to live and more disposable income to carry on enjoying your life. DON'T BE A SLAVE TO THE BANKS!! well not yet anyway Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted May 6, 2006 Share Posted May 6, 2006 Mortgage customers 'urged to lie' - http://news.bbc.co.uk/1/hi/business/3222053.stm Self-cert mortgages could skew market - http://news.bbc.co.uk/1/hi/business/3478635.stm The Great Mortgage Fraud”, “advising customers to break the law” - http://www.clarkewillmott.com/services/fin...tml?Article=777 This is from 2003, which only goes to show how long this rort has been going on. No Care No Responsibility Caveat Emptor The advisor will get a bigger commission, the borrower will get greater financial pain, but with no physical evidence the advisor/accomplice won't get to share the jail sentence if the borrower goes bankrupt and gets pursued by the bank/accomplice for the criminal lie. Quote Link to comment Share on other sites More sharing options...
crash co-ordinator Posted May 6, 2006 Share Posted May 6, 2006 I'm loving this idea. Let's get to work! Quote Link to comment Share on other sites More sharing options...
Once in a lifetime Posted May 7, 2006 Share Posted May 7, 2006 Buyers ‘lying on borrowed time’ Quote Link to comment Share on other sites More sharing options...
eric pebble Posted May 8, 2006 Author Share Posted May 8, 2006 Buyers ‘lying on borrowed time’ FABULOUS!!!! Quote Link to comment Share on other sites More sharing options...
eric pebble Posted May 15, 2006 Author Share Posted May 15, 2006 FABULOUS!!!! Bliarnochio.... Quote Link to comment Share on other sites More sharing options...
Robbrent Posted May 15, 2006 Share Posted May 15, 2006 I have been watching this bubble for quite sometime, my own humble street here in the Fylde terraced houses (ideal 1st time buyer properties) are now being marketed for Circa 90k ok not much by south east standards but consider that up to 3 years ago they were going for 38k tops! with most going for around 30 to 35k. There is no economic reason here for the prices to be so high, suppose for a giant casino that may or may not arrive (which s good metaphor in it's self) now there are loads on the market, and get this there are still some wanabe landlords buying them, not many mind you. But the BTL crowd have been the main curse of the FTB, buying up the cheaper properties, I can't wait until they get there comeuppance, the smug lot of ********* I have never seen a economy so made up of ********, from house prices to retail, in history this will surely rank next to the Tulip bubble Quote Link to comment Share on other sites More sharing options...
Dubai Exile Posted May 15, 2006 Share Posted May 15, 2006 (edited) Thanks Crashed!: It was pinned some time ago I think- - I must apologise a bit - I have been banging on banging on etc etc.. BUT -- I have been doing this for well over 3 years!!! I am SO SO frustrated that people [friends, relations etc. - people I know!!] are so STUPID - and they can't see it all for what it is -- a MASSIVE HUGE BUBBLE/PYRAMID SELLING SCAM!!! It is SO SO obvious -- and the MONEYLENDERS are STILL fueling the whole thing -- lending FRAUDULENTLY -- it makes me SICK. That BBC2 Money Programme about Mortgage Fraud really brought it home to me how the whole "market" is RIGGED by the moneylenders who just lend lend lend whatever the cost/price - IRRESPECTIVE of income -- it is CRIMINAL. I am finally, finally feeling vindicated after all these years. It is going to be PAIN as people FINALLY wake up and smell the coffee -- the World's Biggest EVer Pyramid Selling Scam will show itself for what is REALLY is - and WHO is going to pay? WILL the perpetrators go to jail? Enron - the equivalent FRAUD in the US - people go to jail for lying and manipulating accounts..... SAME should apply to the so called "HOUSING MARKET". It is TOTALLY RIGGED.......... The moneylenders have done this with their friends and colleagues - Estate Agents, Housebuilders, "Developers" etc etc etc. THEY ARE ALL THE SAME PEOPLE. They build, they HYPE, they LEND YOU THE MONEY/LET YOU SIGN YOUR LIFE AWAY to buy what THEY HAVE HYPED!!!! It's sick. Eric, I understand why you must be frustrated.....if you had bought 3 years ago and sold today you would have a tidy sum in the bank. Someone needs to tell it too you straight........your constant babbling about a crash isn’t going to make it happen, no matter how hard you bang on your keyboard. Just completed my house sale which I mentioned on here a while back whilst under offer. Posters on here warned me that it hadn’t completed, well 6 weeks later it has for the full price. Money safely in the bank. I was told by the valuing EA's (3 different companies) that there was a line of people who made offers just on the news the house might be coming onto the market. Eric mate, the market is thriving; I have made a very healthy profit as you could of if you purchased 3 years ago Forget all your stats about FTB's, VI's and all the other BS. House prices are subject to the basic economics of supply and demand. There is an ever increasing population chasing a comparatively fixed supply of property. Add to that the imminent influx of Romanians and Bulgarians.......its not rocket science. Edited May 15, 2006 by Dubai Exile Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted May 15, 2006 Share Posted May 15, 2006 There is an ever increasing population chasing a comparatively fixed supply of property. Add to that the imminent influx of Romanians and Bulgarians.......its not rocket science. There is an ever increasing population chasing a comparatively fixed supply of property land. Add to that the imminent influx of Romanians and Bulgarians a potential change of planning laws around green belt as Labours realises that it is doing what was hitherto thought impossible and loosing the working class vote to the far right ........ its not rocket science Quote Link to comment Share on other sites More sharing options...
eric pebble Posted May 17, 2006 Author Share Posted May 17, 2006 ALL FTB's out there -- HANG ON IN OUT THERE!!!!! Whatever, whatever, WHATEVER you do, do NOT buy now. After all the total bull***t of the last 5-6+ years - you have now JUST turned the tables. The boot is on the other foot, the sellers are begining to feel what you have felt like for years now; scared. Suddenly, those smug sellers, speculators, BTL's, mortgage fraudsters etc etc. are smug no more - why? Because all you FTB's out there realised (1) "value for money" ain't there AT ALL; we all know this clearly. (2) That all you had to do as a collective group of people - i.e. - FTB's - was to stick 2 fingers up to the whole crazy, hyped up pile of horse***t that the housing market has become - and simply say "NO! We will NOT pay that stupid, insane price!". And by simply doing that, the entire market would eventually stop DEAD in its tracks. You have achieved what was always actually possible; you have stopped the whole PR organised, vested interest-led Mass Pyramid-Selling Scam - with all the rigged tv programmes, newspaper articles, media infestations of LIES, sophistry and rip-off scams galore. Now, whatever you do, do not blink first! That is EXACTLY what they are dying for you to do. Do not let the bulls***ters out there con you into the market with all there "buy now or else" cr*p. JUST WAIT; very very patiently. And this is the KEY, all you FTB's out there; You HAVE THE POWER: You are the tap from which the water flows out into the market: If you stay out [i.e. off], the flow stops. The water dries up. Let the prices come down 30%; then 40%; and then 50%; and then 60%. And only then, only then, start to consider making offers. Teach them all a really sobering leson; teach them all the taste of their own medecine; prices can go up 180%, yes..... but they CAN ALSO GO DOWN 60% TOO!!!! Teach them!! Play it really, really cool. Good luck. All you FTB's out there -- May 2006 -- [http://www.housepricecrash.co.uk/forum/index.php?showtopic=30181] read Jeff Randall - and others like him - I stand by EVERYTHING I've said - the World's Biggest Ever Pyramid Scam - the "housing market" is a vat of poison.... Quote Link to comment Share on other sites More sharing options...
Europa Posted May 17, 2006 Share Posted May 17, 2006 All you FTB's out there -- May 2006 -- [http://www.housepricecrash.co.uk/forum/index.php?showtopic=30181] read Jeff Randall - and others like him - I stand by EVERYTHING I've said - the World's Biggest Ever Pyramid Scam - the "housing market" is a vat of poison.... You started this thread in July 2005; FTBers who took your advice at the time are now (based on average increases over that period) several thousand pounds down. You said in July 2005 that BTLers and home-owners were nervous; they were, but not any more. The market has pulled away again. That you stand by the original post (even with the benefit of hindsight) is ridiculous. Really, it's ok to change your mind when faced with new information Quote Link to comment Share on other sites More sharing options...
FirstTimeBonkers Posted May 17, 2006 Share Posted May 17, 2006 Bliarnochio.... Regarding the person on the other side of the desk, on the bus today I saw an ad the type of which used to be proffered to encourage people to retrain as IT "experts", but this time the miracle profession was that of MA. It "guaranteed" a salary of £50k after training (subject to "acceptance", but apparently "anyone can do it, no previous experience necessary"). The length of the training was 11 days. This is most reassuring for those of us who were starting to fear that the miracle economy is propped up only by cheap mortgage debt. We can now rest secure in the knowledge that it is also propped up by the £50k salaries of an army of newly trained MAs. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted May 18, 2006 Author Share Posted May 18, 2006 You started this thread in July 2005; FTBers who took your advice at the time are now (based on average increases over that period) several thousand pounds down. You said in July 2005 that BTLers and home-owners were nervous; they were, but not any more. The market has pulled away again. That you stand by the original post (even with the benefit of hindsight) is ridiculous. Really, it's ok to change your mind when faced with new information not quite true. Loads and loads of people I know have not been able to sell their properties for over a year. Valuations - "prices" - have been totally over estimated -- the fact is - IN THE REAL WORLD - properties are NOT selling for their asking price - and many many people on this site have reported of huge price reductions in the last 18 months. What you read in the media - and the PR that's put out by the Vested Interests about "prices still rising" is frankly not the reality in many many cases. Yes - in central London and other hotspots it may have rien a bit -- but it simply has NOT in many many other places. You can believe what you want - but I happen to believe in my perception Quote Link to comment Share on other sites More sharing options...
scheming Posted May 18, 2006 Share Posted May 18, 2006 Regarding the person on the other side of the desk, on the bus today I saw an ad the type of which used to be proffered to encourage people to retrain as IT "experts", but this time the miracle profession was that of MA. It "guaranteed" a salary of £50k after training (subject to "acceptance", but apparently "anyone can do it, no previous experience necessary"). The length of the training was 11 days. This is most reassuring for those of us who were starting to fear that the miracle economy is propped up only by cheap mortgage debt. We can now rest secure in the knowledge that it is also propped up by the £50k salaries of an army of newly trained MAs. Yes long gone are the days when you needed a solid degree in logic, pure maths and computer science to be a strong programmer (IT "expert"?!). Now its just an 11 day course- no GCSE's required! I think i've found my new career move. 50K for 35hrs a week.. where do I sign? Quote Link to comment Share on other sites More sharing options...
eric pebble Posted May 19, 2006 Author Share Posted May 19, 2006 Yes long gone are the days when you needed a solid degree in logic, pure maths and computer science to be a strong programmer (IT "expert"?!). Now its just an 11 day course- no GCSE's required! I think i've found my new career move. 50K for 35hrs a week.. where do I sign? Er... what? If "average" price of property is £182-189k - this means for an"average" person to buy SENSIBLY, he/she needs to earn about £55-60k per anum. There is no way the "average" person is earning anything like this: Prognosis? Meltdown. Quote Link to comment Share on other sites More sharing options...
Europa Posted May 19, 2006 Share Posted May 19, 2006 Er... what? If "average" price of property is £182-189k - this means for an"average" person to buy SENSIBLY, he/she needs to earn about £55-60k per anum. There is no way the "average" person is earning anything like this: Prognosis? Meltdown. Average couple, each earning the average wage(GBP26K) - joint salary of GBP52K. Three and a half times joint income brings us to GBP182K. I'm not suggesting this is ideal, Eric, but this is one of the reasons why the market hasn't tanked. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted May 19, 2006 Author Share Posted May 19, 2006 Average couple, each earning the average wage(GBP26K) - joint salary of GBP52K. Three and a half times joint income brings us to GBP182K. I'm not suggesting this is ideal, Eric, but this is one of the reasons why the market hasn't tanked. Yes - but, what about Mum at home for children? And - anyway - many many many people earn nothing like £26k! Just go out there and look! The "average" income is NOWHERE NEAR £26k in THE REAL WORLD! ANd - anyway - you get a complete dump for £180k - what - one bedroom plus store cupboard...? etc etc. Quote Link to comment Share on other sites More sharing options...
jonsfedup Posted May 19, 2006 Share Posted May 19, 2006 (edited) Yes - but, what about Mum at home for children? And - anyway - many many many people earn nothing like £26k! Just go out there and look! The "average" income is NOWHERE NEAR £26k in THE REAL WORLD! ANd - anyway - you get a complete dump for £180k - what - one bedroom plus store cupboard...? etc etc. I agree it really annoys me when I keep hearing this so called 26k average salary. As you say correctly many people are well below this. I know from my own salary and it’s certainly not even half of that. Its yet again people trying to justify the inflation in house prices as affordable. They are grossly unaffordable. Edited May 19, 2006 by jonsfedup Quote Link to comment Share on other sites More sharing options...
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