Jump to content
House Price Crash Forum
property guru

Who Should Be Blamed For Hpc Cancellation ?

Recommended Posts

As it becomes increasingly evident with each passing month that the house price crash has been cancelled (with 4 surveys in Oct OPDM,rightmove,Halifax,Nationwide all showing an up turn in prices),mortgage approvals for new house purchases up to 2004 boom levels, interest rates cut etc etc

Financial Times house prices 3.2% higher now in 2005 than a year ago.

Halifax house prices 3% higher now in 2005 than a year ago.

Land Regustry Q2 house prices 5.4% higher now in 2005 than a year ago.

Nationwide house prices 1.8% higher now in 2005 than a year ago.

ODPM house prices 2.8% higher now in 2005 than a year ago.

Rightmove house prices 1.5% higher now in 2005 than a year ago

Denial about the HPC cancellation is now turning to anger / blame.

Many innocent renters genuinely believed a HPC would happen they were "promised it " and experts said it was "guaranteed" now it has not happened and prices are stable / rising who is to blame for the HPC cancellation and the thousands of pounds these people have wasted on renting waiting for a HPC that never arrived.

Which one/s of these Should we blame ?

1)Estate agents for continuing to sell houses.

2)Gordon Brown for ensuring the economy has continued to grow for 8 years.

3)Television / media for showing lots of programmes about property investment.

4)Hard working FTB who streched themselves to get on the ladder like their parents did.

5)BTL landlords for providing non-govenment owned renting housing stock.

6) Amateur "experts" on HPC type websites.

7)The banks for lending money to people.

8) Home owners for not helping out FTB by reducing their asking prices.

9) The Land Registry for publishing the real proof that house prices have not fallen.

Or should we blame the professionals like Capital Economics / Roger Bootle and all the experts on the front of this site who wrongly "promised" / predicted a HPC. Should renters be allowed to sue these professionals economists for misadvising ?

Either way millions of innocent ordinary renters are angry that the HPC they were "promised / guaranteed" has been cancelled and these people deserve justice from all those people who advised them a HPC would definitely happen.

PG

Edited by property guru

Share this post


Link to post
Share on other sites

Are you calling the end of the downturn then?

There has never been a down turn (hence why 6 out 7 surveys are YOY positive) just a inevitable slow down in house price inflation.

Many people have confused a slow down in house price GROWTH with a down turn.They are two very different things.

PG

Share this post


Link to post
Share on other sites

give it a rest.

you sound like lord haw haw.

the house im offering on was

140k april

130k august

120k oct

110k accepted offer.

whats that PG - huh - a correction you silly man.

now if this happens next:

110k nov

90k feb

80k april

70k sept

that would be a crash.

Edited by right_freds_dead

Share this post


Link to post
Share on other sites

If HPI is 3% and inflation is 2.5% and you have to pay capital gains tax of 40% along with falling rental yields where most nuLandlords have to subsidise they're occupants to pay the mortgage,negative yields - is BTL a good investment?

If nuBTL'rs will not keep the market going then who will? It cannot be FTB'rs because they simply cannot afford to buy.

Please tell me the errors of my thoughts.. A 12 year stagnation?

Share this post


Link to post
Share on other sites

Is it your half hour on the computer at Broadmoor?

Interesting reply, a good example of denial turning to anger over the cancelled HPC.

Presumably as you are angry at me you have chosen option 5) ie blame BTL landlords for providing non state owned rented accomondation.

Who do others blame and focus their anger at for the HPC cancellation ?

Hope that Helps.

PG

Share this post


Link to post
Share on other sites

Thanks PG!

The tears are streaming down my face and I hope to God that the wind doesn't change or my face may forever wear this look of hysterical laughter!

One thing I'll say about your posts PG is that you never personally attack posters. Your sarcasm may wind certain posters up, your quoted figures may infuriate them ( I loved it on SP earlier this year when you refused to accept the falls by Nationwide and Halifax etc, saying you only relied on the official Land Registry figures! LOL) but you never resort to personal insults (other than comments about paying your landlord etc). I admire that about you.

You're a funny guy!

:D

Share this post


Link to post
Share on other sites

Interesting reply, a good example of denial turning to anger over the cancelled HPC.

Presumably as you are angry at me you have chosen option 5) ie blame BTL landlords for providing non state owned rented accomondation.

Who do others blame and focus their anger at for the HPC cancellation ?

Hope that Helps.

PG

Out of interest which HPC's actually said that the crash was coming this year?

The fact that the market has not yet crashed does not mean that current prices are stable, only that we are still in the bubble.

Share this post


Link to post
Share on other sites

I dont know if there will be a crash or stagnation and frankly I dont care. It makes no difference to me

Currently my rent is still £150/month cheaper than an IO mortgage would be on the same house.

Until this changes, I am saving a huge ammount of money by renting and will continue to do so.

Share this post


Link to post
Share on other sites

I don't think we're out of the woods yet.

_40854122_house_prices_0905_gra203.gif

Let's see how things look in 6, 12, 24 months time.

I love that graph showing continuous house price growth. The best is that so many bears waited for it to go YOY negative and then right at the end after teasing them for months the little blighter came tanatalisingly close to YOY negative but then edged upwards again !!!!!!!

I guess the moral of the graph is that when PG told you to buy in 2004 you should have listened to him rather than the doom and gloomers.

Hope that Helps.

PG

Share this post


Link to post
Share on other sites

Interesting reply, a good example of denial turning to anger over the cancelled HPC.

Presumably as you are angry at me you have chosen option 5) ie blame BTL landlords for providing non state owned rented accomondation.

Who do others blame and focus their anger at for the HPC cancellation ?

Hope that Helps.

PG

Hahaha - not angry at all, but highly amused.

If you ever persuade the doctors to let you out back out into the community in an attempt at rehabilitation, can I suggest perhaps a career in stand up, you show great promise

Share this post


Link to post
Share on other sites

I don't think we're out of the woods yet.

_40854122_house_prices_0905_gra203.gif

Let's see how things look in 6, 12, 24 months time.

I love that graph showing continuous house price growth. The best is that so many bears waited for it to go YOY negative and then right at the end after teasing them for months the little blighter came tanatalisingly close to YOY negative but then edged upwards again !!!!!!!

I guess the moral of the graph is that when PG told you to buy in 2004 you should have listened to him rather than the doom and gloomers.

Hope that Helps.

PG

Share this post


Link to post
Share on other sites

Hi PG,

:D:D:D:D

How is you former business partner 'Marketeer' nowadays? I miss him. OK, I know that he called the market top about a year ago and spent the rest of the year posting the same kind of thing you are doing here, talking the market up, while he was selling off his BTL portfolio. He had a pretty substanial number of properties as I understand. Do you guys still keep in contact? How's he doing?

Nice to see you back, hope that helps,

Boomer

Share this post


Link to post
Share on other sites

I love that graph showing continuous house price growth. The best is that so many bears waited for it to go YOY negative and then right at the end after teasing them for months the little blighter came tanatalisingly close to YOY negative but then edged upwards again !!!!!!!

I guess the moral of the graph is that when PG told you to buy in 2004 you should have listened to him rather than the doom and gloomers.

Hope that Helps.

PG

PG,

Why do you never respond to anyone’s posts when they tell you of their real experience of house prices in their own areas?

I'm not from round your way, (Luton I think you said) so I can't comment on the market there. Maybe it's still booming and yields are fantastic?

Do I care?

No.

Prices in my area are coming down. I can see it in the trends in the local rag. Rental yields are pathetic. (4.5% based on the house I rent)

Please tell me why these dropping prices mean the crash has been cancelled?

I eagerly await your reply.

Share this post


Link to post
Share on other sites

I love that graph showing continuous house price growth. The best is that so many bears waited for it to go YOY negative and then right at the end after teasing them for months the little blighter came tanatalisingly close to YOY negative but then edged upwards again !!!!!!!

I guess the moral of the graph is that when PG told you to buy in 2004 you should have listened to him rather than the doom and gloomers.

Hope that Helps.

PG

Prices in the SE have been dropping for months. If I'd listened to you and bought in 2004 I'd be in negative equity by now.

Share this post


Link to post
Share on other sites

Thanks PG!

The tears are streaming down my face and I hope to God that the wind doesn't change or my face may forever wear this look of hysterical laughter!

One thing I'll say about your posts PG is that you never personally attack posters. Your sarcasm may wind certain posters up, your quoted figures may infuriate them ( I loved it on SP earlier this year when you refused to accept the falls by Nationwide and Halifax etc, saying you only relied on the official Land Registry figures! LOL) but you never resort to personal insults (other than comments about paying your landlord etc). I admire that about you.

You're a funny guy!

:D

Thanks Classixuk,

I am sure some people think I am a nincompoop but the more asttute know that all my predictions have been correct and consistant and are based on facts and my strong grasp of economics.

I never get personel. When you own 107 BTL properties you tend to be rather chilled out about life.

Don't get me wrong though guys.

If you ask me should a hard working policeman,office worker,bus driver be able to afford a 3 bed semi family home in a ok area of the back of 3.5 times one salary ? I say yes ! Yes ! Yes

If you ask me will there be a HPC in 2006 ?I have to say no.(just as I said no in 2004, 2005) not because I am being awkward but because based on all the economic evidence it is just not going to happen.

Hope that Helps.

PG

Edited by property guru

Share this post


Link to post
Share on other sites

I love that graph showing continuous house price growth. The best is that so many bears waited for it to go YOY negative and then right at the end after teasing them for months the little blighter came tanatalisingly close to YOY negative but then edged upwards again !!!!!!!

Just so that there can be no doubt about it later; are you saying that you predict that HPI is on the way up again? What do you think it will be in about half a year?

Make sure you are still posting here then so we can all discuss the veracity of you predictions.

Also, you seem to keep referring to the YoY house price indices. Do you accept that the trend over the last six months is negative?

Share this post


Link to post
Share on other sites

Property Guru, I love your sense of humour and many thanks for bringing to the forum some light hearted comments in these increasingly difficult times .......you have made my day.

I would, however, suggest in addition to you enrolling in a basic course in economics perhaps also include some spelling lessons?

May your BTL portfolio continue to flourish

Edited by make my day

Share this post


Link to post
Share on other sites
Guest Charlie The Tramp

If you ask me will there be a HPC in 2006 ?I have to say no.(just as I said no in 2004, 2005) not because I am being awkward but because based on all the economic evidence it is just not going to happen.

What economic evidence do you base this statement on, and please not the tired old mantra spouted by Brown the past few years.

Share this post


Link to post
Share on other sites

Thanks Classixuk,

I am sure some people think I am a nincompoop but the more asttute know that all my predictions have been correct and consistant and are based on facts and my strong grasp of economics.

I never get personel. When you own 107 BTL properties you tend to be rather chilled out about life.

Don't get me wrong though guys.

If you ask me should a hard working policeman,office worker,bus driver be able to afford a 3 bed semi family home in a ok area of the back of 3.5 times one salary ? I say yes ! Yes ! Yes

If you ask me will there be a HPC in 2006 ?I have to say no.(just as I said no in 2004, 2005) not because I am being awkward but because based on all the economic evidence it is just not going to happen.

Hope that Helps.

PG

Thanks for the cut and paste PG. IF you keep repeating yourself over and over maybe we'll start believing you.

107 BTL properties? You must be pretty busy. Tell me, how many people do you have working for you?

Even if you only average £500 pcm for each that’s £53500 going through your books every month. What with all the maintenance, accounting, advertising of empty properties etc. etc. you must be swamped.

Or do you just let an agency manage them for you?

Or are you just making it up?

Assuming an average 100K value, 107 * £100000 = £10.7Million worth of property, and you spend so much time on web forums?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.