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The Building Of A Major Crash!

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http://www.thisisbristol.co.uk/displayNode...tentPK=13254051

THE BUILDING OF A MAJOR CRASH

Economists hope the housing market is heading for a recovery - but financial expert CLIFF D'ARCY can see 10 tell-tale signs of a housing market collapse AFTER 18 years in financial services, I am confident that I have a good understanding of what makes consumers tick when it comes to money matters.
Here are 10 warning signs which suggest a bleak outlook for many households:

1 NO TREND CONTINUES FOREVER

2 WE MANAGE OUR MONEY TERRIBLY

3 OUR BILLS ARE RISING FAST

4 WE ARE ADDICTED TO DEBT

5 OUR MORTGAGE BURDEN IS GETTING HEAVIER

6 OUR ECONOMY IS STUMBLING

7 UNEMPLOYMENT IS RISING

8 RETAILERS HAVING A TOUGH TIME

9 WE DON'T HAVE ENOUGH TO FALL BACK ON

10 OUR SAVING FOR RETIREMENT IS PATHETIC

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The point is not IF this is going to happen, as the balls already rolling. But its a matter of when decline begins to build speed downwards.

I personally think that the speed seems to have really picked up in the last 2 or 3 weeks.

The media have finally started to acknowledge that UKPLC has a problem :D

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I personally think that the speed seems to have really picked up in the last 2 or 3 weeks.

The media have finally started to acknowledge that UKPLC has a problem :D

very true! it was only last month that members of another forum i post on were prepared to argue for pages and pages that 'things were different this time' and that their house-shaped cash machine was never going to run dry. i tried to coax a similar argument the other day and no one would bite. my assumption is that they've begun to notice the media coverage and are feeling somewhat less cocky about the economy... :lol:

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very true! it was only last month that members of another forum i post on were prepared to argue for pages and pages that 'things were different this time' and that their house-shaped cash machine was never going to run dry. i tried to coax a similar argument the other day and no one would bite. my assumption is that they've begun to notice the media coverage and are feeling somewhat less cocky about the economy... :lol:

Which forum?

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very true! it was only last month that members of another forum i post on were prepared to argue for pages and pages that 'things were different this time' and that their house-shaped cash machine was never going to run dry. i tried to coax a similar argument the other day and no one would bite. my assumption is that they've begun to notice the media coverage and are feeling somewhat less cocky about the economy... :lol:

Here here.

I am now hearing members of my family say "noone knows whats going to happen to house prices" where previously they would have been very bullish.

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Several commentators (including me) have argued for a long time that the Chancellor's "economic miracle" has been nothing more than one long borrowing binge.

Good to hear that at least some journalists are startin to wake up to Browns binge.

We will probably start to see more and more of this " I told you so" reporting, I wonder if he can back it up :ph34r:

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The writer of the featured article,Cliff D' Arsey is a STR, so it's hardly newsworthy. He's just in the fortunate [desperate?] position to be able to use TMF as his personal de ramping platform. However, the reality is it's no different to say, TTRTR picking one of my posts and proclaiming it to be the be all and end all!

So to put this thread fully into perspective, a STR who is down on his luck * [boom and bust] agrees with someone else who has also bet their house, that the market is doomed.

Well I never :rolleyes:

KOTC.

* Not being funny there B+B just going off the figures that you supplied [ie how much MORE your old house is worth now after STR]

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I personally think that the speed seems to have really picked up in the last 2 or 3 weeks.

The media have finally started to acknowledge that UKPLC has a problem :D

I couldn't agree more libitina...To be honest, I was feeling really down over the last 6-12months due to selling my property last august 2004 (and before someone asks, yes I'm an STR, but didn't sell to make money, but due to the awful area I was living in), thinking that did I do the right thing. Since that time the prices were still rising and amazingly the values of those properties have almost doubled.. :o

...but here's the good news for the FTBs...my neighbour is also about to sell his property as he's has enough of noisy neighbours, drugs and wants to move to a better area. He got his property valued only in June 2005 and it was valued for £165,000. He only decided to sell it now, and now the EA has advised him to knock his asking price down to £150,000. Thats a £15k drop already!! And at least the EA's are slowly but surely admitting that there needs to be a drop in value! :)

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I personally think that the speed seems to have really picked up in the last 2 or 3 weeks.

The media have finally started to acknowledge that UKPLC has a problem :D

exactly..

Its all about perception.

The failing economy.. yadda yadda yadda..

But at the end of the day... when mr £14,000 per anum can borrow 8 times his salary with a £20,000 loan without any questions asked..

the media starts to report the truth.. peole start to listen..

The media who lie?

those that listen to them will be ruined..

can anything be done to stop this..?

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The writer of the featured article,Cliff D' Arsey is a STR, so it's hardly newsworthy. He's just in the fortunate [desperate?] position to be able to use TMF as his personal de ramping platform. However, the reality is it's no different to say, TTRTR picking one of my posts and proclaiming it to be the be all and end all!

So to put this thread fully into perspective, a STR who is down on his luck * [boom and bust] agrees with someone else who has also bet their house, that the market is doomed.

Well I never :rolleyes:

KOTC.

...

Well, I guess it makes a change from the desperate VI cr@p being spouted...which doesn't seem to be doing the market much good, anyway.

;)

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So to put this thread fully into perspective, a STR who is down on his luck * [boom and bust] agrees with someone else who has also bet their house, that the market is doomed.

Well I never :rolleyes:

KOTC.

* Not being funny there B+B just going off the figures that you supplied [ie how much MORE your old house is worth now after STR]

For your information, my house was sold in aug 2004 for £90,000. Which is in my opinion was when the market really peaked. The rest is all swollen prices which EA's have been putting on the houses. Well guess wot? My property, which was given a stupid price tag of £155k has not been sold and has been pulled off market :lol:

Only one property (2 doors away) after mine got sold in the street for £135,000. And the poor sod who has bought it, has already spent in excess of £25,000 fixing it. Hence his total cost for this so called "KING'S CASTLE" has been in excess £160,000!!. Now the laughable thing is that he's already in negative equity as the property and in debt for a property that was only worth approx £45k in 2002. :lol:

I also mentioned another problem my ex neighbour's got where I sold my property. Read below what I said earlier:

...but here's the good news for the FTBs...my neighbour is also about to sell his property as he's has enough of noisy neighbours, drugs and wants to move to a better area. He got his property valued only in June 2005 and it was valued for £165,000. He only decided to sell it now, and now the EA has advised him to knock his asking price down to £150,000. Thats a £15k drop already!! And at least the EA's are slowly but surely admitting that there needs to be a drop in value!

So there you have it...KOTC, you need to learn one simple thing and that is "a value of the house is only worth what a buyer thinks it worth!" There's no point having valuations of half a million if buyers will only pay a 1/3 of that. So wake up...smell the burnt fingers mate! :lol:

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very true! it was only last month that members of another forum i post on were prepared to argue for pages and pages that 'things were different this time' and that their house-shaped cash machine was never going to run dry. i tried to coax a similar argument the other day and no one would bite. my assumption is that they've begun to notice the media coverage and are feeling somewhat less cocky about the economy... :lol:

I had someone try that with me once with a pyramid scheme they were trying to flog to a financially pig-ignorant friend. I was not the most popular person in the house when I pointed out the folly of the numbers (snotty know-it-all middle class bitch I believe the sentiment was!). The try hard sellers eventually lost loads (having made 25K in the space of 8 weeks, it took them another 8 weeks to end up in 25K debt - sound like the housing market?)... my mate was saved by the skin of her teeth... but I don't think she ever really appreciated it :lol::lol::lol:

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I had someone try that with me once with a pyramid scheme they were trying to flog to a financially pig-ignorant friend. I was not the most popular person in the house when I pointed out the folly of the numbers (snotty know-it-all middle class bitch I believe the sentiment was!). The try hard sellers eventually lost loads (having made 25K in the space of 8 weeks, it took them another 8 weeks to end up in 25K debt - sound like the housing market?)... my mate was saved by the skin of her teeth... but I don't think she ever really appreciated it :lol::lol::lol:

they never do liz!!

I gave up trying to help people like that ages ago,the ones that boast anyway....the best I can do for them now is cry crocodile tears for them and relieve them of their burden when the time is right(if i have a profound dislike of them,but am too two-faced to admit it!)

the rest of them I do heartily feel sorry for,if they have been blackmailed into jumping on HMS property just before it hits the icenberg.

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  • 301 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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