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MrB

More Chance Of Asteroid Hitting Earth Than Hpc

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At work the other day I remarked that I believed there may be a house price crash over the next few years. His response was that there was more chance of an asteroid hitting Earth than house prices falling. This is the same bloke who advised me to 'get on the ladder' with an IO mortgage a few months back.

A while ago I created a poll asking if you won the lottery would you buy a house? The answer was mostly 'no', although a few said 'yes' but not in this country. A tiny few said who cares if they buy an over priced house, there's more to life than money.

My work colleagues however ALL said if they won the lottery they'd buy ADDITIONAL houses and rent them out! Another colleague chipped in saying that the £200k semi's in a shady part of Brum would be worth £1million in 5 years!

Let's not kid ourselves HPCers, there's a long way to go before the sentiment of the masses changes. (Or do I just work with nob heads?)

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Guest growl
Another colleague chipped in saying that the £200k semi's in a shady part of Brum would be worth £1million in 5 years!

Let's not kid ourselves HPCers, there's a long way to go before the sentiment of the masses changes. (Or do I just work with nob heads?)

A million :blink: your colleague obviously spends most of his time getting his fix from the same shady part of Brum. ;)

yes you do work with nob heds. Most probably will be living in the shady part of Brum in a few years on benefits...wishing they had listened to you.

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At work the other day I remarked that I believed there may be a house price crash over the next few years.  His response was that there was more chance of an asteroid hitting Earth than house prices falling.  This is the same bloke who advised me to 'get on the ladder' with an IO mortgage a few months back.

A while ago I created a poll asking if you won the lottery would you buy a house?  The answer was mostly 'no', although a few said 'yes' but not in this country.  A tiny few said who cares if they buy an over priced house, there's more to life than money.

My work colleagues however ALL said if they won the lottery they'd buy ADDITIONAL houses and rent them out!  Another colleague chipped in saying that the £200k semi's in a shady part of Brum would be worth £1million in 5 years!

Let's not kid ourselves HPCers, there's a long way to go before the sentiment of the masses changes. (Or do I just work with nob heads?)

Yes you work with uninformed, ignorant, undiscerning nob heads, but then most do.

VP

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I think you are right. A friend of mine is hoping to trade up from a one bedroom flat to a 2 bedroom flat ( resulting in a HUGE mortgage ) and I've pointed out a number of times that this doesn't look a good time to buy and that it would be worth waiting to see what the market does before saddling yourself with a big debt but noone seems to take any notice. He's had a few viewings, no offers and has already reduced the price once. Yet still he, and the other people I work with ( all pretty intelligent people ) don't seem to be looking at whats actually happening. They all insist that its better to buy the best place you can afford now as prices will continue to rise and in a few more years you won't get as much for your money as you will now.

I'm lucky enough to earn well over the national average and I have some savings and a good bit of equity in my current flat but I STILL can't afford to buy an average house without a debt that will stop me affording to do anything other than paying a mortgage! That doesn't appeal one bit so I'll wait for prices to regain some realism but I'm not sure it will happen too suddenly without some sort of event to really make the masses sit up and take note. Until it hits the front pages of the tabloids in big letters then I don't think the majority will listen.

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Perhaps they're right?

There's no terrible rise in interest rates on the cards, no huge rise in unemployment and there's a shortage of property in many areas. So why should property crash?

I get what your saying but...

Rates are not likely to go down anymore in the forseable future, they are much more likely to hold at 4.5 and if anything go up.

unemployment has increased for 6 months in a row , you obviously dont just have everyone unemployed in a month.

There is only really a shortage of affordable houses in most areas.

thats why property should crash

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Perhaps they're right?

There's no terrible rise in interest rates on the cards, no huge rise in unemployment and there's a shortage of property in many areas. So why should property crash?

Because somebody earning 20K can only afford a static caravan type home in most parts of the country on a normal mortgage. If people can't afford, people can't buy, thus HPC. PS unemployment is creeping up. PS 2 there's a fair amount of unsold/void housing in my area. Not so sure of this shortage.

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At work the other day I remarked that I believed there may be a house price crash over the next few years.  His response was that there was more chance of an asteroid hitting Earth than house prices falling.  This is the same bloke who advised me to 'get on the ladder' with an IO mortgage a few months back.

A while ago I created a poll asking if you won the lottery would you buy a house?  The answer was mostly 'no', although a few said 'yes' but not in this country.  A tiny few said who cares if they buy an over priced house, there's more to life than money.

My work colleagues however ALL said if they won the lottery they'd buy ADDITIONAL houses and rent them out!  Another colleague chipped in saying that the £200k semi's in a shady part of Brum would be worth £1million in 5 years!

Let's not kid ourselves HPCers, there's a long way to go before the sentiment of the masses changes. (Or do I just work with nob heads?)

To be fair it depends by how he defines asteroid, as it depends on the size of the object.

Earth gets hit by objects up to perhaps 10 metres across just about every year. For something 100 metres in size you have to wait a century or so. And for kilometer-sized bodies it might take a million years.

In other words, Eath is being hit by asteroids all the time.

So on one level he is saying that a HPC is less certain than a certain event. Can't argue with that. (although you might argue that the HPC has already started... and so it's certain too)

B.

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Perhaps they're right?

There's no terrible rise in interest rates on the cards, no huge rise in unemployment and there's a shortage of property in many areas. So why should property crash?

Because a huge number of people cannot afford it. Property was driven to unsustainable highs by sentiment and investors.

It is a classic market bubble - and now the gas is escaping.

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Maybe "Crash" is to much of an emotive word for most sheeple.

I am now trying to avoid the word in conversations with my friends, and just trying to gently awaken them to the fact that HP's will fall by maybe 1/2 or 1% a month for the next 5 years.

It's been said before on this forum that it wiil only be referred to as a crash after the event, and i think this is right.

I was getting a bit of a reputation as the "looney doom monger" in my circle of freinds so have made a concious effort to tone things down a bit.

But now some of my freinds are gradually coming round to my way of thinking.

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Maybe "Crash" is to much of an emotive word for most sheeple.

I am now trying to avoid the word in conversations with my friends, and just trying to gently awaken them to the fact that HP's will fall by maybe 1/2 or 1% a month for the next 5 years.

It's been said before on this forum that it wiil only be referred to as a crash after the event, and i think this is right.

I was getting a bit of a reputation as the "looney doom monger" in my circle of freinds so have made a concious effort to tone things down a bit.

But now some of my freinds are gradually coming round to my way of thinking.

someone has said to me

"there will be significant falls in the housing market but it wont crash"

its pretty much why i think that most people are tossers

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I work with w@ankers too!

I have been constantly told house prices never go down (? what???) and that I should buy now.

What really did p@ss me off was when the directors wife, sat me down and talked about my future with the company (in a general lazyfair attitude way), and she said I should consider buying, i said house prices will come down. Her reply was "house prices won't come down" with an authoritarian attitude, trying to put me in my place. What made me mad, was when this was talked about in a private meeting!!!

I didn't challenage her on it, as she is the "i'll make things difficult if you do" typo person.

I can take the office banter talks, because none of their arguments stack up.

(this was several months ago)

But now... things have changed. No more is said about house prices... only the odd comment when people see me reading rightmove/BoE/Halifax report, and they comment "you must be an expert now!"

A nail was put in the coffin a week last friday, when a colleague got guzundered! I didn't say a word!

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I work with w@ankers too!

I have been constantly told house prices never go down (? what???) and that I should buy now. 

What really did p@ss me off was when the directors wife, sat me down and talked about my future with the company (in a general lazyfair attitude way), and she said I should consider buying, i said house prices will come down.  Her reply was "house prices won't come down" with an authoritarian attitude, trying to put me in my place.  What made me mad, was when this was talked about in a private meeting!!!

I didn't challenage her on it, as she is the "i'll make things difficult if you do" typo person. 

I can take the office banter talks, because none of their arguments stack up.

(this was several months ago)

But now... things have changed.  No more is said about house prices... only the odd comment when people see me reading rightmove/BoE/Halifax report, and they comment "you must be an expert now!"

A nail was put in the coffin a week last friday, when a colleague got guzundered! I didn't say a word!

Now that its forgotten about (for her part anyways) go and scratch her car. Revenge is always best when they dont know why, i think its where the 'best served cold' saying comes from.

BTW you have to scratch it twice preferably a few months apart, but do it in exactly the same way.

Failing that, when Trevor tells them on the news and its on the front page of the sun the following day, buy loads of copies and put them up everywhere.

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Anyway, I've passed the "will house prices fall" debate, as they clearly are!

The debate now is "will there be a recession?", "When?", "Pensions crises" etc etc etc.

A colleague stated if we do go into a recession we will be out of it by next summer! (oh how I laughed).

What worries me is these people lived through the last crash/recession!

There's also a lot of talk about pensions too... my comment is "I'll decide after the next recession" - this always turns peoples heads!

I can make you all laugh with analagies... but I won't.

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Hang in there people.

The thing that really sets a Crash apart from your average economic event is that the dickheads are left open mouthed and astounded at what was plainly obvious actually materialised.

A HPC is a certainty and is in progress!

Edit: -

There is much fun to be had in being right. Our time is near.

Edited by Culpability Brown

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Now that its forgotten about (for her part anyways) go and scratch her car. Revenge is always best when they dont know why, i think its where the 'best served cold' saying comes from.

BTW you have to scratch it twice preferably a few months apart, but do it in exactly the same way.

Failing that, when Trevor tells them on the news and its on the front page of the sun the following day, buy loads of copies and put them up everywhere.

Was front page on the FT on Saturday. Not quite The Sun, but not as far away as it used to be.

said house prices will come down.  Her reply was "house prices won't come down" with an authoritarian attitude, trying to put me in my place

This irks me too, the patronizing tuts and raised eyebrows, like you're a child who's just shit his pants and needs them changing.

Note how these people often don't associate the 'quiet market' or the buyer pulling out at the last minute as having anything to do with a correction in prices. The English middle-classes piss me off more than ever.

Edited by MrB

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This irks me too, the patronizing tuts and raised eyebrows, like you're a child who's just shit his pants and needs them changing.

:lol: A most brilliant observation. That's *exactly* the look you get when talking to a property guru.

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Guest Charlie The Tramp
Or do I just work with nob heads?)

Well there are 15 million known nob heads in the Uk, just IMHO or course. :)

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At work the other day I remarked that I believed there may be a house price crash over the next few years.  His response was that there was more chance of an asteroid hitting Earth than house prices falling. 

Funny, I haven't heard of any asteroids hiting earth recently.

Maybe it was just a teensie weensie one that didn't matter?

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My driving instructor (I know, 30 and just getting round to it!) brought up the HP topic (how I like to avoid them as much as poss, even tho I come on here. Can't be arsed explaining myself to dead wood, and shouldn't feel like I owe them any tit bits anyway).

He is in the process of moving and the horror of the whole transaction. He is having to bunk with the in laws cos those crazy FTBers have demanded to move the move in date forward two weeks. I mentioned wht a boon it is to rent, not having the difficulty of all that and he asked me why I haven't bought. I told him that houses will become more affordable over the next few years and he asked how. I avoided the crash word but he jumped dowm my troat at even the insinuation of cheaper prices. "House prices never come down". Then he went on to say he was stuck in neg equity for 5 years! Had to really go off topic or I would have crashed the car and put his premiums up. Think I will, once I have passed, when I am driving back from the test centre.

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Guest Charlie The Tramp
Think I will, once I have passed, when I am driving back from the test centre.

Due to emotional reactions on passing or failing your driving test, Instructors alway drive the vehicle afterwards. <_<

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Due to emotional reactions on passing or failing your driving test, Instructors alway drive the vehicle afterwards.  <_<

Hmm! I acually know this as I have failed twice already! Thought it was a newism. I am begining to feel like I will never pass, I am reasonably bright, but am taking to it well one minute, then like a duck to ice skating the next.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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