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Malthus

Denial

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If I had £1 for everyone who said " I can't sell my house" to me recently I would be loaded.

Really starting to get on my goat :angry:

This has been going on for nearly four years now and people still think it's a blip, wise up it's the crash of the century.

If you are bankrupt as a result take it on the chin go to court and get on with your life

Rant over

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If I had £1 for everyone who said " I can't sell my house" to me recently I would be loaded.

Really starting to get on my goat :angry:

This has been going on for nearly four years now and people still think it's a blip, wise up it's the crash of the century.

If you are bankrupt as a result take it on the chin go to court and get on with your life

Rant over

+1 :D

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A couple I am friendly with and another couple Belfast Girls is friendly with "can't sell their house."

After speaking to thier financial advisers and their banks, both couples have decided to just keep their house and let it out as an investment and go buy another house "of thier dreams.":blink:

I don't even bother trying to explain to them that they are fine now, but eventually interest rates will go up and they will be fecked. Never mind the issues of finding good tenents.

I have learned to say nothing even though I am thinking, "are you fecking mental!"

There are still people out there that think there is money to be made in property :blink:

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A couple I am friendly with and another couple Belfast Girls is friendly with "can't sell their house."

After speaking to thier financial advisers and their banks, both couples have decided to just keep their house and let it out as an investment and go buy another house "of thier dreams.":blink:

I don't even bother trying to explain to them that they are fine now, but eventually interest rates will go up and they will be fecked. Never mind the issues of finding good tenents.

I have learned to say nothing even though I am thinking, "are you fecking mental!"

There are still people out there that think there is money to be made in property :blink:

The masses still have this opinion. I know lots of people that have choosen to do this.

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The masses still have this opinion. I know lots of people that have choosen to do this.

Owning 2 houses doubles their exposure to capital losses as prices continue to fall. Also, it increases their mortgage at a time of historically low interest rates. Debt is wealth? :wacko:

Edited by Belfast Boy

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The masses still have this opinion. I know lots of people that have choosen to do this.

Did they chose to do this or where they advised to do so? Is this effectively sub-prime lending in disguise?

Edited by Belfast Boy

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If I had £1 for everyone who said " I can't sell my house" to me recently I would be loaded.

Really starting to get on my goat :angry:

This has been going on for nearly four years now and people still think it's a blip, wise up it's the crash of the century.

If you are bankrupt as a result take it on the chin go to court and get on with your life

Rant over

Try this:

"If you put your house on the market for £1 it would sell immediately, wouldn't it? If you put your house on the market for £1,000,000 it would never sell, would it? You CAN sell your house, just not for the price that you want you greedy fecker."

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Did they chose to do this or where they advised to do so? Is this effectively sub-prime lending in disguise?

They were advised to do so. Sub-prime lending IMPO is still widely available. I know several people with multiple mortgages having been given CTL and bought a new place even though they have tens of thousands of negative equity but are on very very low base rate trackers. I know PHD students given 5 times their salary for mortgages. I know several couples with mortgages of 4+ joint incomes or 8 times single. I know several with parent guaranteed mortgages. I even know people buying new build flats in Belfast. A fool and their money...

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Try this:

"If you put your house on the market for £1 it would sell immediately, wouldn't it? If you put your house on the market for £1,000,000 it would never sell, would it? You CAN sell your house, just not for the price that you want you greedy fecker."

I've tried that (though phrased a little more delicatley) and the usual response is "we can't possibly afford to sell for less than £xxxxxx".

Sings - "There may be trouble ahead......"

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By the sounds of it we are building up for another 2008 bank crash. The banks just can't help themselves - they learn nothing and forget history.

I really think we have seen nothing yet. If interest rates are made to rise quickly we are in for so much pain. I think a big part of the problem is that U.K banks have no idea about the N.I. fundamentals. I think they have based their targets and strategy on an English market.

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By the sounds of it we are building up for another 2008 bank crash. The banks just can't help themselves - they learn nothing and forget history.

We have seen the the debt crisis spread from the banks to Greece, Ireland, Protugal and now Itally, Spain.

My understanding is the UK has greater levels of debt than all those countries. However, our debt is long-dated. Which means our sovereign debt crisis may be some time in coming. However, when it does come who is going to bailout the UK?

Where is Vedanta Trader? He explains this better than anyone. He maintained that the bond markets set interest rates - not governments. This has proven to be incorrect so far.

Edited by Belfast Boy

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We have seen the the debt crisis spread from the banks to Greece, Ireland, Protugal and now Itally, Spain.

My understanding is the UK has greater levels of debt than all those countries. However, our debt is long-dated. Which means our sovereign debt crisis may be some time in coming. However, when it does come who is going to bailout the UK?

Where is Vedanter Trader? He explains this better than anyone. He maintained that the bond markets set interest rates - not governments. This has proven to be incorrect so far.

Maybe Doccy can tell us - where as VT gone off to? Does he ever come online anymore?

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We have seen the the debt crisis spread from the banks to Greece, Ireland, Protugal and now Itally, Spain.

My understanding is the UK has greater levels of debt than all those countries. However, our debt is long-dated. Which means our sovereign debt crisis may be some time in coming. However, when it does come who is going to bailout the UK?

Where is Vedanta Trader? He explains this better than anyone. He maintained that the bond markets set interest rates - not governments. This has proven to be incorrect so far.

The bond markets will have their day with the UK, when the the fiction that the BOE can buy government bonds with made up money comes crashing down.

Take the example of selling a car, the market says its worth £5k but you borrow £10k and buy it off yourself for £10k. You now have the same car and could argue that it is worth £10k as someone paid you that for it. In reality you still have a £5k car and a £10k debt.

The old wisdom that you cannot buck the market is still as true as it ever was, its just that the lunatics have taken over the asylum (for a bit ) ;)

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We have seen the the debt crisis spread from the banks to Greece, Ireland, Protugal and now Itally, Spain.

My understanding is the UK has greater levels of debt than all those countries. However, our debt is long-dated. Which means our sovereign debt crisis may be some time in coming. However, when it does come who is going to bailout the UK?

Where is Vedanta Trader? He explains this better than anyone. He maintained that the bond markets set interest rates - not governments. This has proven to be incorrect so far.

The point of QE was to rig the bond market. The Government issues bonds as usual but gives the nod to the big bond buyers that the BoE will buy them back at full price. Hence the investors compete to buy the gilts - keeping yields artificially low. They then sell the gilts on to the BoE making a tidy profit (a small percentage of billions of pounds is still a lot of money) as the BoE pays full price for them.

This holds yields low, hence interest rates can stay low too (high yields imply high rates), big banks get to make hundreds of millions risk free by laundering gilts for the government and the government itself gets to monetise its debt (the first round of QE funded an entire year's deficit) whilst keeping the pretence of being able to borrow as much as it wants at low rates.

Of course, everyone who already holds sterling (savers and wage earners) gets screwed over in the resulting inflation but most people aren't savvy enough to make the link and the media sure aren't going to upset the bandwagon by educating and informing the public.

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  • 338 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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