The Masked Tulip Posted June 23, 2011 Share Posted June 23, 2011 The great thing about the Metro is that so many read it - we even have it on the buses in Swansea now... so all good.. Except that probably those flogging their ludicrously priced houses are driving around in cars... Need to stand at traffic lights with a bunch of Metros hurling them through open car windows at drivers... Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted June 23, 2011 Share Posted June 23, 2011 80% of people are now facing a margin call, and will be saddled with a huge interest rate hike due to their debt/equity ratio. Boo, hoo. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted June 23, 2011 Share Posted June 23, 2011 (edited) Read more. sizzling spring but what does summer hold? in todays 20 minuten Der Frühling 2011 schlug fast alle Rekorde. Er war äusserst trocken und extrem warm. Seit Tagen wechseln sich jetzt jedoch Regen und Sonne ab. Was bedeutet das für den Sommer? read more Edited June 23, 2011 by georgia o'keeffe Quote Link to comment Share on other sites More sharing options...
SarahBell Posted June 23, 2011 Share Posted June 23, 2011 Shame they haven't used a current photo of estate agent boards. Quote Link to comment Share on other sites More sharing options...
Wait & See Posted June 23, 2011 Share Posted June 23, 2011 (edited) It's a shame that more fecking idiots didn't take notice of what was posted on housepricecrash during 2006/2007 etc, instead of calling it's members doom-mongers and nutters. Stupid bastards, the lot of them and they've just destroyed the country for those of use who knew that paying £220,000 for a 1 bed flat was a nonsense too. Damn them all to bankrupsy and a tent. Edited June 23, 2011 by Wait & See Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 23, 2011 Author Share Posted June 23, 2011 In the actual paper it had a headline along the lines of "homeowners find themselves living underwater" or something, that conjured up this: I daren't think how much that would be on sale for in Swansea? Half a mill at least. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 23, 2011 Author Share Posted June 23, 2011 I think it is probably the riskiest time to buy a house (using a mortgage) in a hundred years or more. Now risky might cut both ways, by its very nature, as we know. But it isn't much different to walking into a casino and putting everything you have on black. (In fact, even that doesn't quite describe it. You might lose everything you've got in a casino; with a mortgaged asset you might lose more than you've got.) Yes, it is a kind of opposite shorting isn't it. You gamble on capital increases but the downside can bankrupt you. Quote Link to comment Share on other sites More sharing options...
Giordano Bruno Posted June 23, 2011 Share Posted June 23, 2011 Sentiment will start to become bearish, imo, as a result of this type of report. However, I believe I read recently that more QE is on the agenda for TPTB. It won't work any better than last time, of course, but it will prolong the agony for everyone I'm sure. Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted June 23, 2011 Share Posted June 23, 2011 Or this: Best place for them really, suck it up... Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted June 23, 2011 Share Posted June 23, 2011 Funny. Guy i know bought in 2007 thinks its 'worth' £100k more now. (ie from £220k to £320k) Of course, when he tried selling for this, no one was interested (last identical housetype i saw actually went for £140k, not an insignificant deviation from £320k) so he's renting it out instead. Still thinks its worth £320k. Quote Link to comment Share on other sites More sharing options...
winkie Posted June 23, 2011 Share Posted June 23, 2011 Funny. Guy i know bought in 2007 thinks its 'worth' £100k more now. (ie from £220k to £320k) Of course, when he tried selling for this, no one was interested (last identical housetype i saw actually went for £140k, not an insignificant deviation from £320k) so he's renting it out instead. Still thinks its worth £320k. ...sad to say but some do so suffer from illusions of grandeur......if it makes them feel happy just nod and say "yes of course it is worth £320k".....not worth upsetting people unnecessarily. Quote Link to comment Share on other sites More sharing options...
Guest_flaps_* Posted June 23, 2011 Share Posted June 23, 2011 Funny. Guy i know bought in 2007 thinks its 'worth' £100k more now. (ie from £220k to £320k) Of course, when he tried selling for this, no one was interested (last identical housetype i saw actually went for £140k, not an insignificant deviation from £320k) so he's renting it out instead. Still thinks its worth £320k. Christmas 2007. A mates Dad was off to work in the Far East, pretty much until retirement. I asked what he was going to do with his house. He was narked off as he thought it was worth £250K, but it was valued at £220K. So Narked off he was he decided he was going to keep it until it reached the £250K he believed it was worth. I warned him to get shot now as a housing crash was on the way. Without even istening to my side of things, he laughed. And laughed. And laughed. And wouldn't listen to anything I had to say about it. Now fast forward 4 years. After long voids and a problem tenant, he has decided to sell. The same agents value the place. They tell him to put it on at £170, in the hope of getting 160K!! Plus something needs doing with the ecntral heating which will cost a couple of grand. Wow, if you thought he was narked off in 2007, you should see him now! Obviously I didn't say 'I told you so' and I'm sure he has erased from memory my ignored advice. Oh well. Quote Link to comment Share on other sites More sharing options...
Wait & See Posted June 23, 2011 Share Posted June 23, 2011 (edited) Just another stupid old fool Flaps. Now you can laugh at him for being such a clown. 90% of the population seem very, very stupid these days. Dirty sheep who can't think for themselves. Edited June 23, 2011 by Wait & See Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 23, 2011 Share Posted June 23, 2011 The great thing about the Metro is that so many read it - we even have it on the buses in Swansea now... so all good.. Except that probably those flogging their ludicrously priced houses are driving around in cars... Need to stand at traffic lights with a bunch of Metros hurling them through open car windows at drivers... Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 23, 2011 Share Posted June 23, 2011 Or this: Quote Link to comment Share on other sites More sharing options...
Riedquat Posted June 23, 2011 Share Posted June 23, 2011 Obviously I didn't say 'I told you so' Why not? If people don't keep getting told they'll keep convincing themselves that it's everyone's fault but their own. Quote Link to comment Share on other sites More sharing options...
Guest_flaps_* Posted June 23, 2011 Share Posted June 23, 2011 Why not? If people don't keep getting told they'll keep convincing themselves that it's everyone's fault but their own. Well, like I say, it was a mates Dad and friend of the family. I know he knows though, and I know that he knows that I know that he knows etc! Plus when my folks saw him later, they said he best get it on the market sharpish, as I'd told them that it is only going to get worse from here. He didn't just laugh this time and it is on the market I will be watching with interest! Quote Link to comment Share on other sites More sharing options...
macca Posted June 23, 2011 Share Posted June 23, 2011 Yes but surely most aren't bothered because they actually bought the house to live in and not as an investment? I couldn't give a rats ass about property developers or BTL losing out though but then again, they are making money on rental income so do they care either? Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted June 23, 2011 Share Posted June 23, 2011 Read more. Nice. And very clearly put by the Metro, Sheeple level. Quote Link to comment Share on other sites More sharing options...
scrappycocco Posted June 23, 2011 Share Posted June 23, 2011 The useless BTL idiots will get what's coming to them, people that bought to live will go on with their lives. A massive round of applause for each btl empire that goes down. Quote Link to comment Share on other sites More sharing options...
cybernoid Posted June 23, 2011 Share Posted June 23, 2011 This newspaper article, in a quiet way, vindicates the majority of people who been members here since 2006. Yes. It's nice to have been right all along in the face of so much unthinking noise from the sheep. I had 3 colleagues treating me like an imbecile in 2007 when they all were buying places they couldn't afford, all were encouraging me to make the same mistake. I've lost touch with them these days, but I know for certain they will choose not to remember what i said. I don't really feel smug, i feel sad for all of us. I'm sick of renting, but being up sht creek like them would be worse. None of us have won, just some of us will lose more than others. Quote Link to comment Share on other sites More sharing options...
DeepLurker Posted June 23, 2011 Share Posted June 23, 2011 (edited) Yes. It's nice to have been right all along in the face of so much unthinking noise from the sheep. I had 3 colleagues treating me like an imbecile in 2007 when they all were buying places they couldn't afford, all were encouraging me to make the same mistake. I've lost touch with them these days, but I know for certain they will choose not to remember what i said. I don't really feel smug, i feel sad for all of us. I'm sick of renting, but being up sht creek like them would be worse. None of us have won, just some of us will lose more than others. +1 We will never be thanked for having been right all along. My consolation prize is that I managed to stand up to my wife's nesting instincts, and in doing so I just might have secured a financially stable environment for our kids to grow up in.* * as long as the government stops reaming the prudent in order to bail out the greedy. Edited June 23, 2011 by DeepLurker Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted June 23, 2011 Share Posted June 23, 2011 <br />Christmas 2007. A mates Dad was off to work in the Far East, pretty much until retirement. I asked what he was going to do with his house. He was narked off as he thought it was worth £250K, but it was valued at £220K. So Narked off he was he decided he was going to keep it until it reached the £250K he believed it was worth. I warned him to get shot now as a housing crash was on the way. Without even istening to my side of things, he laughed. And laughed. And laughed. And wouldn't listen to anything I had to say about it.<br /><br />Now fast forward 4 years. After long voids and a problem tenant, he has decided to sell. The same agents value the place. They tell him to put it on at £170, in the hope of getting 160K!! Plus something needs doing with the ecntral heating which will cost a couple of grand. Wow, if you thought he was narked off in 2007, you should see him now!<br /><br />Obviously I didn't say 'I told you so' and I'm sure he has erased from memory my ignored advice. Oh well.<br /><br /><br /><br />I love a story with a happy ending! Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted June 23, 2011 Share Posted June 23, 2011 Funny. Guy i know bought in 2007 thinks its 'worth' £100k more now. (ie from £220k to £320k) Of course, when he tried selling for this, no one was interested (last identical housetype i saw actually went for £140k, not an insignificant deviation from £320k) so he's renting it out instead. Still thinks its worth £320k. Obviously a very dense individual, does he have a good head doctor? hopefully his tenants will leave and his re - introduction to reality will be complete. Quote Link to comment Share on other sites More sharing options...
KingBingo Posted June 24, 2011 Share Posted June 24, 2011 (edited) I know that this means decent, just not too bright people are facing hardship etc etc. But............... HAPPY DAYS!!!!! Edited June 24, 2011 by KingBingo Quote Link to comment Share on other sites More sharing options...
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