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TheCountOfNowhere

Chin Up

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Chin up everyone.

The house price crash is happening, it has been for 3 years now...another 3 or 4 to go im afraid.

The Tories have shown their hand and I guess they were always going to help their hard stretched middle classes. There was a hope that they'd try and take a different course than Brown and his cronnies, but that hope is now gone.

The banks are running the show it would seem.

Fortunately ( for house prices ) , no one has any money, no one has any job security, no one has any belief now that house prices will recover, everyone is worried about food, petrol, gas and their jobs. The public service is about to see what the reality the rest of us have and that will have a postive effect in prices ( i.e. down ).

Inflation is going up, sure thing is that house prices arent. Even if you have a deposit earning 2% interest, you've still done better than buying a house 12 months ago.

Renting is not dead money especially when you can move for work, leave the country, change your tax positon ( when new taxes are introduced ) and you dont have to live next door to pikeys. You get to pick your kids school too and never have to worry about maintenance.

So, chin up, forget the torries and forget buying a house, they aint worth having.

Leave the idiots to their ponzi scheme andn relax.

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Agreed. I'm happy just waiting it out. Even if prices rise slightly I'll still benefit by the amount I'm saving every month reducing my future mortgage. :)

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Chin up everyone.

The house price crash is happening, it has been for 3 years now...another 3 or 4 to go im afraid.

The Tories have shown their hand and I guess they were always going to help their hard stretched middle classes. There was a hope that they'd try and take a different course than Brown and his cronnies, but that hope is now gone.

The banks are running the show it would seem.

Fortunately ( for house prices ) , no one has any money, no one has any job security, no one has any belief now that house prices will recover, everyone is worried about food, petrol, gas and their jobs. The public service is about to see what the reality the rest of us have and that will have a postive effect in prices ( i.e. down ).

Inflation is going up, sure thing is that house prices arent. Even if you have a deposit earning 2% interest, you've still done better than buying a house 12 months ago.

Renting is not dead money especially when you can move for work, leave the country, change your tax positon ( when new taxes are introduced ) and you dont have to live next door to pikeys. You get to pick your kids school too and never have to worry about maintenance.

So, chin up, forget the torries and forget buying a house, they aint worth having.

Leave the idiots to their ponzi scheme andn relax.

Still don't think the bit I put in bold is quite true yet

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Picture this. House prices violently correct to affordable and reasonable levels. Everyone on HPC gets to buy their dream home.

Then what?

A crushing sense of emptiness when the realisation hits there is nothing to strive for any more. A devastating loss of community with no more banter to be had on HPC about the stupid BoE, government, BTLers and stupid peak price house buyers.

Careful what you wish for! :lol:

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Still don't think the bit I put in bold is quite true yet

Granted there are people who are hoping prices will shoot back up and make them lots of money !!!

But generally, with the people I speak with, the realisation is there that house prices aren't going to shoot back up to 2007 peak prices.

Prices will definitely recover though...they've already recovered to 2005 prices in Northants. :P

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Boy I spoke to yesterday with his house on the market for 270K asking and no viewings is adamant that it is worth 350K and he is keen to hold on to it till he gets offered that.

Why not market it at 350K?

If I viewed a house at 270K and wanted to buy it, I'd offer 250K.

Mind you if I viewed a house at 350K...I'd offer 250K on it too :lol:

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Picture this. House prices violently correct to affordable and reasonable levels. Everyone on HPC gets to buy their dream home.

Then what?

A crushing sense of emptiness when the realisation hits there is nothing to strive for any more. A devastating loss of community with no more banter to be had on HPC about the stupid BoE, government, BTLers and stupid peak price house buyers.

Careful what you wish for! :lol:

No, we'd simply switch to www.housepriceboom.com and whilst everyone was saying what a stupid idea it was to own a house we'd all be telling peole the bottom had been reached and it's time to fill your boots :lol::lol::lol::lol:

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Picture this. House prices violently correct to affordable and reasonable levels. Everyone on HPC gets to buy their dream home.

Then what?

A crushing sense of emptiness when the realisation hits there is nothing to strive for any more. A devastating loss of community with no more banter to be had on HPC about the stupid BoE, government, BTLers and stupid peak price house buyers.

Careful what you wish for! :lol:

I imagine there will be many here sitting in their comfy chairs in their lavish sitting rooms and ornate surroundings, paid for by the money that is left over when you buy a great house for half its value, and pumping comments into their new favourite website, www.housepricerise.co.uk

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Picture this. House prices violently correct to affordable and reasonable levels. Everyone on HPC gets to buy their dream home.

Then what?

A crushing sense of emptiness when the realisation hits there is nothing to strive for any more. A devastating loss of community with no more banter to be had on HPC about the stupid BoE, government, BTLers and stupid peak price house buyers.

Careful what you wish for! :lol:

...as Lex in the FT today states after HPC we would expect a scenario of no house price rises... buying a life style choice and renting like Germany a way of life....no more treating a house as an 'investment' with economic controls in place to prevent it.... :rolleyes:

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House on my street just gone on market for 450k. One sold in Dec 2010 for 436k, which broke the ceiling price. BTW the just on market hse is a far inferior spec by about 40k.

My chin is down - what a mess London is in.

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House on my street just gone on market for 450k. One sold in Dec 2010 for 436k, which broke the ceiling price. BTW the just on market hse is a far inferior spec by about 40k.

My chin is down - what a mess London is in.

I wouldn't even look at a house in London. I'd find a new job else where and get out of there. They are beyond a joke and the only thing keeping them up is the gift tax money the government is giving the financial institutions. When reality strikes there it will be carnage.

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The outcome (or rather non-outcome) of this spring 'bounce' is going to be crucial. A lot of indices are starting to go YoY negative and because prices were rising last year, that is going to start producing some falls greater than down 5%. The headlines this generates should finish off the theory that the 07 prices are just round the corner.

Scrub any of that within the M25 though.

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I wouldn't even look at a house in London. I'd find a new job else where and get out of there. They are beyond a joke and the only thing keeping them up is the gift tax money the government is giving the financial institutions. When reality strikes there it will be carnage.

2 happy kids at local school and elderly parents live 2 miles away. Partner works local and I have good friends in area having lived here all my life. BTW too old for Aus!

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2 happy kids at local school and elderly parents live 2 miles away. Partner works local and I have good friends in area having lived here all my life. BTW too old for Aus!

There's always an exception to every rule.

My experience of London is great if you're a tourist and if you're young and you dont mind giving all your money every month to pub/club/restaurant/TFL owners. Rubbish for everyone else.

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I wouldn't even look at a house in London. I'd find a new job else where and get out of there. They are beyond a joke and the only thing keeping them up is the gift tax money the government is giving the financial institutions. When reality strikes there it will be carnage.

% OF LOCAL ECONOMY THAT COMES FROM PUBLIC EXPENDITURE

London 36%

South East 41%

East England 45%

South West 49%

East Midlands 49%

West Midlands 55%

Yorks & Humber 55%

Scotland 55%

North West 57%

North East 64%

Wales 69%

Northern Ireland 71%

I know where the carnage will be, and it's not London!

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I know where the carnage will be, and it's not London!

Who's going to support the bottom of the london ponzi/housing pyramid ?

I know solicitors in london, couple, earning £200K+ between them and they are looking at buying a 2 bed flat in a cr*p area.

Meanwhile, housing benefit spongers are living in houses paid for by their taxes.

Wake up, it will eventually collapse, it is not sustainable, people are sounding like it's July 2007 all over again and prices will just keepign going up and up....they cant.

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I know where the carnage will be, and it's not London!

The exposure is much lower outside London though. Family homes 50 miles out cost less than London 1 bed flats.

I imagine the median income/house price ratios are already worse in London too.

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Who's going to support the bottom of the london ponzi/housing pyramid ?

I know solicitors in london, couple, earning £200K+ between them and they are looking at buying a 2 bed flat in a cr*p area.

Meanwhile, housing benefit spongers are living in houses paid for by their taxes.

Wake up, it will eventually collapse, it is not sustainable, people are sounding like it's July 2007 all over again and prices will just keepign going up and up....they cant.

Think it through. You said the only thing keeping London up is government money. So I laid out the data and it shows there's less government money going into London than any other region. So as those public expenditure taps get turned off ask yourself where will the pain be felt hardest?

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I don't recognise those figures. The last ones I saw, London was right up there at about number three. Always depends on what you count. If you include Whitehall, House of Parliament, BBC, publicy funded Olympics, National Hospitals, London Underground etc etc, I'm sure you could get it to number one actually.

When london Crashes it will crash hard and it will be carnage. If you think otherwise you might as well start posting on MSE :lol:

A small anecdote from london last year ( i spend a lot of time in london, sadly ). A lady I know, 32, single, was renting, thought it was dead money, so decided to buy...found a 1 bed flat, up for sale at 365K !!! I shouwed her on Zoopla/Rightmove the previous 3 years sold prices....nothing had sold for over 320K. I told hwe when the estate agent tries it on, and they will, not to pay more than 320K....how much did she pay...FULL ASKING !!!!!

She had sold her flat in Northampton and used the equity as a deposit...her mum and dad gave her 40k as she'd not afford it otherwise.

I cant see there being many more people like this now. How many yound people outside londo, say around 32 now have made any money for their property over the last 5 years. Not many.

Edited by TheCountOfNowhere

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I know where the carnage will be, and it's not London!

There's going to be massive carnage in London when the housing benefit changes kick in. The private rental market is completely dependent upon it.

Four out of 10 families in inner London are dependent on housing benefit, figures reveal today.

Claims have risen in the recession to the point where 42 per cent of homes in Hackney and 38 per cent in Tower Hamlets are reliant on the weekly payment. In Greater London as a whole, a quarter of households rely on the benefit to meet their rent.

Evening Standard

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Think it through. You said the only thing keeping London up is government money. So I laid out the data and it shows there's less government money going into London than any other region. So as those public expenditure taps get turned off ask yourself where will the pain be felt hardest?

No, I said the only thing keeping them up was the government money they have bunged the financial companies. Not money that they account for in public spending or the public service. The boys in the city dont want to believe the crash will happen there so they keep spending their (government funded ) cash on houses.

That tap has been turned off ( for now ). When people realise that it's turned off for good ( maybe ) and there is no new , greater fool generation, prices will take a massive hammering.

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It is only those with equity in their house can afford to move - and very little is selling - happy days!

They are the only ones selling, but in the south east it is more likely they are simply spending the money that would go on stamp duty on their home and staying put. I am.

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  • 311 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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