Almost 1 Year

[nodumsunreader]

Since this forum started predicting doom and gloom and guess what? Yep still no crash. How long will the Corporal Frazers keep insisting that black is white? or will they eventually wake up to the fact that it is no longer the 1990's and we are now living in a new economic reality - one where a house price crash is in nobodys interest and will therefore not happen.

[Ace]

Best I can do

AWOOGA

[sean taylor]

we are now living in a new economic reality

<{POST_SNAPBACK}>

There have been many "new economic realities" in the past 200 years. Never have they survived, so pinning your hopes on yet another is sticking your neck out more than a little.

Housing crashes take a long long time to unfold, but eventually this one will unfold, because the UK simply doesn't have the productive capacity to service its current debts.

[nodumsunreader]

Nobody = nearly everybody under 30, right?

<{POST_SNAPBACK}>

I should have said nobody with any economic interest - which rules out 'nearly everyone under 30' who spend the majority of their earnings inflating the profits of the major breweries on a Friday and Saturday night.

[munimula]

Since this forum started predicting doom and gloom and guess what? Yep still no crash. How long will the Corporal Frazers keep insisting that black is white? or will they eventually wake up to the fact that it is no longer the 1990's and we are now living in a new economic reality - one where a house price crash is in nobodys interest and will therefore not happen.

<{POST_SNAPBACK}>

a better name would have been dumsunreader because from the above you are clearly very stupid. Why do you think a house price crash is in nobodys interest? It's in mine and all those that haven't yet bought and don't want to be paying all their money on financing a mortgage to live in a 1-bed box. Didn't you read recently - 56% of people in this country that are below the poverty line are home owners.

[nodumsunreader]

a better name would have been dumsunreader because from the above you are clearly very stupid. Why do you think a house price crash is in nobodys interest? It's in mine and all those that haven't yet bought and don't want to be paying all their money on financing a mortgage to live in a 1-bed box. Didn't you read recently - 56% of people in this country that are below the poverty line are home owners.

<{POST_SNAPBACK}>

Presumably you would prefer to spend the rest of your life paying someonelse mortgage by renting somehwere then. That would be a certain way of staying in eternal poverty. BTW being one of the 44% and deciding not to do just that when faced the with short term pain (of taking on a mortgage that ate up half my earnings) for long term gain (having a place of my own that is now paid for) probably makes me a bit less dumb than you I would suggest.

[TW11]

Indeed. One year on. And what a year! Down here in the London suburbs the prices of flats have droppped tens of thousands. You can rent for a significantly lower amount than a mortgage and, because of that, you can lump a big wodge of money in the bank.

What a year indeed.

[boom_and_bust]

Since this forum started predicting doom and gloom and guess what? Yep still no crash. How long will the Corporal Frazers keep insisting that black is white? or will they eventually wake up to the fact that it is no longer the 1990's and we are now living in a new economic reality - one where a house price crash is in nobodys interest and will therefore not happen.

<{POST_SNAPBACK}>

hi,

Oh my lord! This well and truly confirms the crash has been well under way.

you said :

"we are now living in a new economic reality"

Does anybody remember the dot.com bubble birst just a few years ago that poured petrol on the flames of the housing market? I would like to refer you to an article from one of the largest american news and media corporations describing "the new economic reality" back in 2000 of the dot.com revolution.

http://www.msnbc.msn.com/id/6960057/

OK, think I'll dip out of this forum for a while, battern down the hatches and get ready for the fallout. Thank god I don't pay a mortgage anymore, I just have to figure out how save the company now. Gordy really dropped a bomb on this one, I hope he has a 'Plan B".

[munimula]

Presumably you would prefer to spend the rest of your life paying someonelse mortgage by renting somehwere then. That would be a certain way of staying in eternal poverty. BTW being one of the 44% and deciding not to do just that when faced the with short term pain (of taking on a mortgage that ate up half my earnings) for long term gain (having a place of my own that is now paid for) probably makes me a bit less dumb than you I would suggest.

<{POST_SNAPBACK}>

The rent I pay is less than the IO mortgage would cost and it's a really nice flat. I have no bills to pay, landlord has done many things while I've been here and I can move within a month if I like. No having to sell and pay all associated costs. While I'm young I'd rather not be tied down in one place and like the freedom renting provides. You like everyone else have been brainwashed into the 'rent is dead money' mantra ********. Interest on a mortgage when your property isn't going to go up is also a waste of money. You might not choose to see a crash but we are in one, it will take years to play out and bottom, check out the newspaper headings on this site from 1988 - 1996 and you'll see that in the middle of the crash the news was always confusing but we know in hindsight that it was a crash. Things now are very similar to then, it's going the same way.....ignore at your peril

[Guest Bart of Darkness]

we are now living in a new economic reality

Sounds like you're living in a different reality entirely.

Why not go back to the Sinking Pig from whence you came, your views on the economy might find a more receptive ear there.

Oh, before I forget...

AWOOGA!

Edited August 4, 2005 by Bart of Darkness

[A Fool & His Borrowed Money]

Yep,

Crashes only Occur in a year, so it wont happen as it hasnt

Durrrrr............

[needle]

we are now living in a new economic reality - one where a house price crash is in nobodys interest and will therefore not happen.

<{POST_SNAPBACK}>

A.Murder

B.Fraud

C.Car accident

D.Theft

E.War

A [insert topic here] is in nobodys interest and will therefore not happen.

Can I ask a question - do people like you know how stupid you are or are you completely ignorant of said stupidity?

Man Ive been waiting for this "New Economic Reality".

Cant wait.

AWOOGA!

[Guest Bart of Darkness]

will they eventually wake up to the fact that it is no longer the 1990's and we are now living in a new economic reality - one where a house price crash is in nobodys interest and will therefore not happen.

So in the different economic reality of the 1990s, a crash/recession was in people's interests and was "allowed" to happen for that reason? It was just in everyone's best interests. Simple as that. How kind and unselfish our government was to do this for us. I really must write them a letter thanking them.

Obviously by your crazed logic, "they" could have stopped it had they wanted to, and this is what "they" are apparently doing now.

If things that are "in nobodys interest" "will therefore not happen" really were the situation, BBC News 24, CNN, Sky News etc. would be forced to close down!

Edited August 4, 2005 by Bart of Darkness

[WBFTB]

Since this forum started predicting doom and gloom and guess what? Yep still no crash. How long will the Corporal Frazers keep insisting that black is white? or will they eventually wake up to the fact that it is no longer the 1990's and we are now living in a new economic reality - one where a house price crash is in nobodys interest and will therefore not happen.

<{POST_SNAPBACK}>

errr...it is in MY interest, wanting to first-time-buy. it is in my parents interest looking to upgrade.

I should have said nobody with any economic interest - which rules out 'nearly everyone under 30' who spend the majority of their earnings inflating the profits of the major breweries on a Friday and Saturday night.

<{POST_SNAPBACK}>

nobody with an economic interest - I have an economic interest and see above answer.

Presumably you would prefer to spend the rest of your life paying someonelse mortgage by renting somehwere then. That would be a certain way of staying in eternal poverty. BTW being one of the 44% and deciding not to do just that when faced the with short term pain (of taking on a mortgage that ate up half my earnings) for long term gain (having a place of my own that is now paid for) probably makes me a bit less dumb than you I would suggest.

<{POST_SNAPBACK}>

I can't believe how some people still just don't get it. Never mind the argument of whether renting is paying someone elses mortgage or saving the difference on a mortgage - I cannot afford to buy; no choice, can't afford, simple as. And I consider myself an average mid-twenties on a reasonably good wage. Including my gf's salary it isn't an option.

[nodumsunreader]

       

A.Murder

B.Fraud

C.Car accident

D.Theft

E.War

A [insert topic here] is in nobodys interest and will therefore not happen.

Can I ask a question - do people like you know how stupid you are or are you completely ignorant of said stupidity?

Man Ive been waiting for this "New Economic Reality".

Cant wait.

AWOOGA!

<{POST_SNAPBACK}>

The problem you have is that you fail to understand that those who could engineer a house price crash are the very same people who have nothing to gain by doing so - the only ones who would want one are those with little or no economic power and therefore no leverage on the market. The market that used to be driven by FTB's is now driven by BTL and as people need somewhere to live there will always be a steady stream of investors at the bottom to keep the rest of the market afloat. As interest rates fall, BTL becomes more attractive so no crash next year either, sorry.

Replies give ample confirmation if confirmation was ever needed that now is a good time to invest some of my stash as in a BTL as there appear to be no shortage of fools willing to give me a better return than banks or BS (especially now that interest rates are on the way down). Keep on renting suckers

[New Darker Law]

The problem you have is that you fail to understand that those who could engineer a house price crash are the very same people who have nothing to gain by doing so - the only ones who would want one are those with little or no economic power and therefore no leverage on the market. The market that used to be driven by FTB's is now driven by BTL and as people need somewhere to live there will always be a steady stream of investors at the bottom to keep the rest of the market afloat. As interest rates fall, BTL becomes more attractive so no crash next year either, sorry.

Replies give ample confirmation if confirmation was ever needed that now is a good time to invest some of my stash as in a BTL as there appear to be no shortage of fools willing to give me a better return than banks or BS (especially now that interest rates are on the way down). Keep on renting suckers

<{POST_SNAPBACK}>

Ha ha ha. Ignorance is bliss!

NDL

[VacantPossession]

Since this forum started predicting doom and gloom and guess what? Yep still no crash. How long will the Corporal Frazers keep insisting that black is white? or will they eventually wake up to the fact that it is no longer the 1990's and we are now living in a new economic reality - one where a house price crash is in nobodys interest and will therefore not happen.

<{POST_SNAPBACK}>

Just substitute "reality" with "fantasy" and voila! I agree.

VP (aka Corporal Frazer)

[Guest prudence]

I should have said nobody with any economic interest - which rules out 'nearly everyone under 30' who spend the majority of their earnings inflating the profits of the major breweries on a Friday and Saturday night.

<{POST_SNAPBACK}>

presumably those with any economic interest believe there will be no downside to people continuing to increase their debt levels?

[nodumsunreader]

Ha ha ha.  Ignorance is bliss!

NDL

<{POST_SNAPBACK}>

See you next year. Same time, same place, same story, same result.

[VacantPossession]

Presumably you would prefer to spend the rest of your life paying someonelse mortgage

<{POST_SNAPBACK}>

No, but I'd also (even more) prefer not to buy somewhere which gave someone like you a whacking great profit for doing nothing more than buying your place at "the right time" and assuming for ever more that this entitles you to charge ME for your next 16 holidays, next 3 cars and whatever either UN-EARNED luxuries you PRESUME to be entitled to.

If you think any different then you are just a troll spiv VI who thinks the world owes YOU a living just because you bought an extremely boring (and I would imagine extremely tasteless) residence near the M11 a few years ago.

Does that explain it enough?

VP

Edited August 4, 2005 by VacantPossession

[Guest Bart of Darkness]

those who could engineer a house price crash

So you're saying that all previous crashes have been as a result of deliberate action on the part of "those"/"they". Are you willing to consider a scenario wherby "they" can't do a damn thing beyond basic damage limitation? Is your faith in economists/governments that high?

What about the 1970s oil shock or 9/11? These things can happen will little warning and upset a lot of finely tuned economic plans.

Keep on renting suckers

Ah, starting to sound like TTRTR now. Are you one of his merry little alter-ego's by any chance.

[boom_and_bust]

The problem you have is that you fail to understand that those who could engineer a house price crash are the very same people who have nothing to gain by doing so - the only ones who would want one are those with little or no economic power and therefore no leverage on the market. The market that used to be driven by FTB's is now driven by BTL and as people need somewhere to live there will always be a steady stream of investors at the bottom to keep the rest of the market afloat. As interest rates fall, BTL becomes more attractive so no crash next year either, sorry.

<{POST_SNAPBACK}>

WRONG! The people who most have the interest to crash the market are ...... existing BTL and speculators. Do you want to poodle along in the slow lane earning a reasonable, if not huge, revenue form BTL and house-holding OR ..... do you want to sell high and buy low. That is what alot of the smarter ones have done or are doing. Put the dosh in a nice safe bank account for a while, buy back when the one's who were too slow are loading off in the repocession auction rooms. Have you seen the figures for BTL repocession recently? Up, up, up.

The thing that sucks is Gordy has lead people down this path, to a certain extent. Can't blame him for everthing but many 'slow' growth european economies were saying for a long time that britain's growth was all a mirage, pumped up on government borrowing, credit cards and mortgages. Well, growth is plumeting, there may be some very smug smiles over the channel this year. PRAY Gordy, BoE or Kirsty and Beenie come up with some ideas quick! 'Cos alot of the financial press think interest rate cuts ain't gonna do it. Neither will harry potter accounting. We need something meaty this time.

Later Muffin,

[VacantPossession]

Keep on renting suckers

<{POST_SNAPBACK}>

Ah, thank you for revealing yourself. Everyone NOT in your position is a sucker,eh? Go out and do a REAL job instead of pretending you are doing something useful making a personal profit out of a load of crapola houses. You are about as far from being an entrepreneur as it could get.

Go and do something interesting that benefits you and others. You are under a sad illusion that attending the betting shop of house inflation makes you a worthy person.

You sad, sad git. Your "career" in "housing" has gone to your head. Go and do something USEFUL. Showing off about your tragic obsession with making money out of GAMBLING is very sad. Get a life you twit.

VP

[MrB]

The problem you have is that you fail to understand that those who could engineer a house price crash are the very same people who have nothing to gain by doing so - the only ones who would want one are those with little or no economic power and therefore no leverage on the market. The market that used to be driven by FTB's is now driven by BTL and as people need somewhere to live there will always be a steady stream of investors at the bottom to keep the rest of the market afloat. As interest rates fall, BTL becomes more attractive so no crash next year either, sorry.

Replies give ample confirmation if confirmation was ever needed that now is a good time to invest some of my stash as in a BTL as there appear to be no shortage of fools willing to give me a better return than banks or BS (especially now that interest rates are on the way down). Keep on renting suckers

<{POST_SNAPBACK}>

I think you're right, there's too much at stake this time for there to be a house price crash. BTL is looking more attractive now with interest rates coming down and a good supply of 2-bed new builds on the market.

Renting is clearly dead money even though some people say it's cheaper to rent than to buy. Property always goes up in value too, if you ignore the last two crashes, this trend will continue due to low interest rates.

I've decided to get on the ladder before it's too late. nodumsunreader and I will mock you all in a few years, when only lottery winners will be able to afford semi's in Smethwick.

Fools.

Edited August 4, 2005 by MrB

[Culpability Brown]

Oh dear. Aren't they funny.

A glimmer of hope and the self righteous have been saved!

I think not.

Never mind.

The housing market is dead. The over extended and indebted are in serious trouble.

And guess what. They deserve what's coming to them.

Edited August 4, 2005 by Culpability Brown