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Started Looking To Buy....


Guest Fedup

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Guest Fedup

Yes of course, I had better go out now and buy me one of these great investments, it seems the time is right, I mean why keep your cash in the bank when you can spend it all on a "silly prices" (your quote) property. Lets face it the economy is set to boom, more people are getting jobs and the only way is up.

I have money in various places, one of which is the stock market and i made 36% on my investment last year which more than made up for the paltry 3-4% I made everywhere else.

Look you dont need a First Class Degree to see that around 100,000+ people are going to lose their jobs, 40 billion a year less is going to be spent in the economy, the banks are going to lend less and look for 20% deposits, the fear phase is starting already with people admitting they are going to tighten their belts.

For me the scariest thing is that house prices will crash during a period of record low interest rates. In every crash previous, interest rates have been high and this in part has led to price drops. In this crash Interest rates have only one way to go and any steady climb to normality will see a constant downward pressure on the market. So in essence we could see an economy getting back to normal but house prices continuing to fall for the next 5-10 years.

The key to this is Vince and George. They know the bubble requires bursting. There will be no efforts made to support further rises.

So why don't they just increase rates to 10%?

Is it because, despite what all of us working in the non-fiance sector believe........the majority of the economy is based on lending for Assets?

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Guest Fedup

Ha - caught you. You said you were in the fiance sector!

Yay you caught me! I am in the fiance sector.........do you wan't a wedding?

Sorry for your delete, but you cocked up.

Badly.

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Fedup, on 01 August 2010 - 09:24 PM, said:

Sometimes I want to top-myself.......even more so after I read the tin-hat threads on here.

But Darwin, I thought you had an Award specifically for this sort of behaviour?!

:lol:

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So why don't they just increase rates to 10%?

Is it because, despite what all of us working in the non-fiance sector believe........the majority of the economy is based on lending for Assets?

You can`t borrow at base rate as far as I know? and you can`t force scared sheeple to borrow at any rate? 5 bed detached will drop harder and faster than any other asset class imo.

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Sold in 2007 (5 bed, detatched family home). Rented for 3 years while the gf was at university. She just graduated with a 1st class Law Degree and now has a job. We have a dog, both in our 20's, both in work.....seems to be the right time to buy for us now, even though I think the market is still vastly overpriced.

I am not a bull or a bear because I feel a hypocrite pretending to be a bear when i was lucky enough to profit by selling at "the right time". However, houses havent really dropped much at all (probably risen where I am looking to buy). I am not a bull as I don't care whether I make money or not anymore, but just want a decent family home again in our new area.

Our rental property is ok, but far too small to consider buying, it was just convenient location-wise, allowed us to have a dog, allowed me to add to my savings each month, and gave us the flexbility to move quickly once the GF graduated. I was planning to emmigrate when my girlfriend graduated, but unfortunately both of us have put down roots here (which i tried to avoid, partly by not buying!), and we think we enjoy a good quality of life.

I can keep you posted how I get on, but if people call me a troll/whatever than fair enough.....I hope my previous posts over the years show that I have a pretty balanced point of view, and realise I am fortunate in a very overpriced market.

I am looking to buy in the SE, am flabbergasted at the prices people are still paying, and am sad that I will have to compete with this. I am just thankful that I can.

'My daddy left home when I was three

And he didn't leave much to ma and me

Just this old guitar and an empty bottle of booze.

Now, I don't blame him cause he run and hid

But the meanest thing that he ever did

Was before he left, he went and named me "Sue."'

Can we swap problems?

p-o-p

ps - Bet that old bugger Banner does a Kirsty McColl on me too.

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:unsure:

I don't understand a word of this thread, what it's about?

I'm confused too. Is inheriting houses really this common? I feel I should have inherited at least 4 large houses by now. Should I rent out "Kind Hearts and Coronets" for tips on "helping the process on a bit"?

But Darwin, I thought you had an Award specifically for this sort of behaviour?!

That usually requires both blokes and alcohol.

In the Darwin awards they go together like love and marriage.

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So why don't they just increase rates to 10%?

Is it because, despite what all of us working in the non-fiance sector believe........the majority of the economy is based on lending for Assets?

are you Stuart Law's love-child?

more seriously, have you not heard of capitalism? and the possible realisation that houses are relatively minor 'Assets' compared to all the other investable useful-stuff out there?

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So why don't they just increase rates to 10%?

Is it because, despite what all of us working in the non-fiance sector believe........the majority of the economy is based on lending for Assets?

Things are going Nucleur and that's just after TALKING about the cuts. To raise Interest Rates at the moment would be a step too far, it really isn't the right time.

It makes much more sense to bring in the public secor budget cuts, leave IR's and just rely on increasing unemployment and bad economic sentiment to drive down house prices naturally.

What I believe is scarier for the longer term is that at some point IR's will have to rise. As economies around the World come out of recession there will be inflationary pressures and it will be unavoidable. So after an estimated 2 years of house price drops, probably around 20%-25% we will then see a slow procession of distressed buyers as IR's start to increase.

It only takes one increase and talk of further possible increases to suddenly get people thinking and the media talking about double mortgage costs. There are 35% of people with less than £500 savings in the UK* nevermind the kind of disposable income to cope with any increase in mortgage costs. All of those people will feel unsettled......think about it in 2012, the housing market is falling and has been for 2 years now, so that will be embedded in their conscience and soon down the line their mortgage is going to be unaffordable....what do you do?......you sell up....downsize......before it's too late.....but everyone is doing the same, better drop price to below neighbour......if I dont sell before my mortgage renewal im fooked......christ must drop further.......

This bad boy could go on for 7 -10 years, every 0.25% interest rate increase pushing just enough people over the edge into "distressed" status to keep the downward momentum in prices going on and on and on.

IMO the Government have chosen slow puncture of the bubble, unlike the States where things have been allowed to just freefall. This is frustrating for HPC'ers because the thing has stretched out, looked like it was never coming. That is mainly the fault of an election and a previous Government that was irresponsibly willing to do anything to keep the illusion of wealth alive.

Vince and George won't go hiking IR's, the cutbacks are doing the work for them at the moment, the air is starting to be squeezed out of this gigantic bubble. When that starts to subside THEN we will get the IR increases, possibly in around 18 months and that will slowly slowly catchy monkey take us to around 2.5 times average earnings.

There are 2 landmarks in this cycle - one is in 4 years. The Economy will start to recover, the deficit will be down to £20 Billion and talk will be of new beginnings etc. This will allow the LibCons to say they have managed to pull us through and do what they set out to do, we are no longer Bankrupt Britain etc. The 2nd landmark will be in 7-8 years when I think houseprices will have bottomed out, the new stringent regulations in force will prevent double digit growth again but there may be a slight increase for the first time in 7 years. This will mark the end of the nations biggest house price correction.

* Friday 2nd April 2010

A Mori poll has today cast light on the very difficult situation in which many people in the UK find themselves after the recession. The report from Mori indicates that 20% of those in the UK have no savings whatsoever and around a third has less than £500 to their name.

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My dog has one in Archeology (very skilled at digging for old bones) but he barely wears his robe these days, unless of course he is attending a civic occassion. I usually follow behind him with a small plastic bag in case his nerves get to him but he rarely soils himself when he is out "on show".

I don't have a dog at the moment but my wife walks one for an old boy who can't get about as well as he once could. I usually accompany her when she takes the dog for a walk. We walk in a wooded area managed, apparently, by the local council. There are signs there informing us that if the dog takes a dump in the woods we are obliged to pick it up! Nutters!

The dog in question has other ideas. He takes a number of dumps and always digs furiously afterwards - both covering up the evidence and distributing it over a wide area. My wife always encourages him and lets him know that he is a 'good boy'. If anyone is watching she states loudly something like '*****! I can't pick his *********** up because he's covered it up the little **********.'

The dog seems generally pretty pleased with himself and, as far as I know, has no housing issues or desire to top himself.

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Nah, just recognise an obvious troll and read their old posts. Time consuming but rewarding :D.

The troll will now do one of two things...

1, Go away and lick it's wounds...

or..

2, Attempt to defend it's integrity as though it were in a court of law :rolleyes:.

I wonder which type this is...

Ah, it's a type 2 :lol:.

Looks like it's mutated into a type 1 :lol:.

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I don't have a dog at the moment but my wife walks one for an old boy who can't get about as well as he once could. I usually accompany her when she takes the dog for a walk. We walk in a wooded area managed, apparently, by the local council. There are signs there informing us that if the dog takes a dump in the woods we are obliged to pick it up! Nutters!

The dog in question has other ideas. He takes a number of dumps and always digs furiously afterwards - both covering up the evidence and distributing it over a wide area. My wife always encourages him and lets him know that he is a 'good boy'. If anyone is watching she states loudly something like **********************

The dog seems generally pretty pleased with himself and, as far as I know, has no housing issues or desire to top himself.

Could we please have a little bit less of the bad language on the forum. It's bad enough having everyone complain about trolling when someone holds a contrarian opinion without semi-illiterates trying to make their points.

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Could we please have a little bit less of the bad language on the forum. It's bad enough having everyone complain about trolling when someone holds a contrarian opinion without semi-illiterates trying to make their points.

opinion? the OP didnt have an opinion.

he was announcing that he would be posting anecdotals in the near future.

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:rolleyes:

Contrary opinions are fine but this thread was pure trolling.

So what if it was? Are we running out of database space?

Just seems to me that accusations of trolling seems to be the way to beat people down on this site.

My main point though was about your language.

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My language? What was wrong with my language?

I should of course have said "the language" :o Apologies.

I don't really understand why people need to swear on an internet forum when the language has so many other ways of emphasising.

I certainly don't understand why it is so important to swear that people type in all these cunning ways to defeat the filters.

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