Bullish Bear Posted October 8, 2004 Share Posted October 8, 2004 I will email the Webmaster. Quote Link to comment Share on other sites More sharing options...
Keefter Posted October 8, 2004 Share Posted October 8, 2004 Excellent - I can't watch as the TV is being hogged by family watching Lord of the Rings DVD - similarities between UK property market and Mordor noted<{POST_SNAPBACK}> crap films, great analogy, metiphor, simile? Quote Link to comment Share on other sites More sharing options...
Keefter Posted October 8, 2004 Share Posted October 8, 2004 Webmaster is the man to ask. I can tape it then convert to mpeg, then what i don't really know. <{POST_SNAPBACK}> Anyone who has a TV card in their PC can do video capture and turn the programme into an Mpeg, If they also have some web space they can upload it to there via FTP (File Transfer Protocol). Once its on the webspace its just a case of posting the link and then people can loadload the file and watch the programme. enough IT experts answered the survey on what they do, their must be someone who has the power!!!!???? Quote Link to comment Share on other sites More sharing options...
bottom feeder Posted October 9, 2004 Share Posted October 9, 2004 The report was weak. The real dangers of a falling market were not really dealt with in any proper way. I think that there should have been more reference to the credit bubble and the fact that the whole market is based not on good value, but easy money. The nurse, Katherine, who bought at £86,000 in June at 4.5x income is stuffed. Her 100% LTV mortgage could go to £565?? after the first year - bad, but it should have found a self-cert'er with a 6x multiple and reported on that. If we are going to scare the little children, we need to be reporting the real facts. Falling asking prices only tell a small part of the story. It started off strong, with phrases like 'before it falls any further', 'negative equity', 'dropping sharply' and 'time for the hangover' but it then went all soft. Bruce, the estate agent is talking about a flat at £225,000 in south east London. a 20% reduction. But said "buyers are still out there". The next flat had gone from £165,000 to £150,000 in five months, but still talking asking prices. On to Brighton, no FTB'ers. But "now the market is cooling, the FTB is returning" says Rosie. This is not good news. With 10% off these asking prices, they are still poor value. Asked what evidence she had of falling prices and she refered to estate agent asking prices and reductions! Rosie says, "The current market may be good news for FTB'ers" NO! Why is she saying this? It is not good news. Naah, these people need to get real. They don't understand what a house price crash is. For starters, 10% off the asking price does not indicate a falling market. 10% off the price that it sold for last year does. Quote Link to comment Share on other sites More sharing options...
Lou G Posted October 9, 2004 Share Posted October 9, 2004 I taped the programme. If Webmaster would like me to send a copy on I can do so. My family even yesterday were asking us why we were not buying a house, they do not believe house prices are going to fall. I am going to have great joy showing them this programme. At last we are being proved right.!! Quote Link to comment Share on other sites More sharing options...
doomlord Posted October 9, 2004 Share Posted October 9, 2004 I felt really sorry for that nurse. There's a lot of people that will complain about how much they have lost if the market crashes, when they bought really low and are upset that their house is now cheaper than last year. I won't feel the least bit of sympathy for them. But people in her situation are going to be in real difficulty. I'm glad I sold my small, 1-bed flat to an investment buyer . I read some literature about her particular mortgage last year and was shocked that it was being sold as a way to get onto the housing ladder by a major bank. The way the payments leapt up after the first year were bound to cause trouble. It was interesting that she ended up sharing her house with her two sisters! This is how the bubble will correct. As more people choose to share, for whatever reason, the demand for houses at overinflated prices will begin to fall. And once a fall is underway, people will stay with friends / family when they can, becuase property will be seen as a quick way to loose lots of money in a falling market. Quote Link to comment Share on other sites More sharing options...
EmpiricalBear Posted October 9, 2004 Share Posted October 9, 2004 What a load of b**cks Of course, its refreshing to see the media spout a load of lies in a direction with which I approve but my gawd, what a bunch of weasels. The fact they don't believe in what they are saying is amply demonstrated by the way that Rosie Millard, the presenter, faced with these "facts" decided to rent out her current property and buy a second one, increasing (doubling or more) her exposure to property at a time when she is promoting (it cant be called reporting) the idea that property is dropping in value at a rapid pace. I guess I should be pleased. Oh all right then, bring it on!!!! This is what I have waited for in the 10 months since STR'ing. I cant quite believe it, its fitting my expected timescale exactly. Once the US election is over in November expect some more macroeconomic fireworks in the subsequent 6 months and a corresponding deepening of the housing gloom and it will be "springtime for the bears and STR's, winter for bulls and their ilk" (to the tune of Mel Brooks, "Springtime for Hitler" I particularly liked the estate agent who admitted that when the market was buoyant they were slapping properties up at any ridiculous price and watching them fly off the shelves, arguing that if thats what the market is like they have to play along. Now we will watch the converse start to take effect. Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted October 9, 2004 Share Posted October 9, 2004 What a load of b**cksOf course, its refreshing to see the media spout a load of lies in a direction with which I approve but my gawd, what a bunch of weasels. The fact they don't believe in what they are saying is amply demonstrated by the way that Rosie Millard, the presenter, faced with these "facts" decided to rent out her current property and buy a second one, increasing (doubling or more) her exposure to property at a time when she is promoting (it cant be called reporting) the idea that property is dropping in value at a rapid pace. <{POST_SNAPBACK}> Then again people continuously and continually buy falling markets. "You should be tearing my arm off." said the estate agent. Maybe she took him at his word. The thing about bubbles is they get people to adjust their expectations. Look at th eguy who was disappointed to lose £15k from his prop, even tho he had trebbled his initial investment. For most there exiists this fantasy that property can only go up.. It will take more than a few reports of 20% falls to convince them otherwise. For the meantime a 20% fall is seen by the majority as a buying opportunity. This sort of behaviour is common in all markets. It won't stop th emarket falling however. The fact that she, a bull, is still increasing her exposure should hearten all bears. It is just another sign that more falls are on the way. Bottoms form when the last bull turns bear, not when late bulls act bullishly. Quote Link to comment Share on other sites More sharing options...
zzg113 Posted October 9, 2004 Share Posted October 9, 2004 when late bulls act bullishly, is that the second top in a double top formation before a correction? Quote Link to comment Share on other sites More sharing options...
Mark5290 Posted October 9, 2004 Share Posted October 9, 2004 The nurse took out her mortgage with HSBC, the last time i looked (i bank with HSBC) they will only lend 3.25x salary. My sisters boyfriend had a chat with local HSBC mortgage advisor, he said they would lend him 4x salary at 100% LTV. Would people be in this mess if the banks stuck to lending criteria of 3.25x to 3.75x. Quote Link to comment Share on other sites More sharing options...
mad_dan Posted October 9, 2004 Share Posted October 9, 2004 I am guessing that early next week the national papers will all have a front page on house prices, If they don't cover a big story they miss out and it sells loads of papers Peel back your eyelids for an interesting week ahead Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted October 9, 2004 Share Posted October 9, 2004 when late bulls act bullishly, is that the second top in a double top formation before a correction?<{POST_SNAPBACK}> that would be my guess zzg Quote Link to comment Share on other sites More sharing options...
ONLY HUMAN Posted October 9, 2004 Share Posted October 9, 2004 Hi Friends has anyone got Trevers show on MPEG i can get hold of please thanks people Quote Link to comment Share on other sites More sharing options...
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