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They're At It Again, Things Must Be Bad.

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Every time I turn on any news channel there is someone trying to talk-up the property market, stock market, economy etc.

Snippets of "good news" are jumped upon by armies of journalists and presenters in a vain attempt to stave off the inevitable :rolleyes:.

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it was only a 49k terrace,the guy i bought it off paid 67k.no idea what percentage drop that is.id not be surprised if the HM doesnt drop another 15-20% over the next 2 years but if you take the rent i was paying at my last place into account ie £500 a month ,then i can take a hit.its for liveing in you see any profit in 20 years is a bonus.

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Every time I turn on any news channel there is someone trying to talk-up the property market, stock market, economy etc.

Snippets of "good news" are jumped upon by armies of journalists and presenters in a vain attempt to stave off the inevitable :rolleyes:.

Channel hopping the other day I came across Max Keiser being interviewed by Stacy Herbert (she could be his wife, according to some) on Russia Today from their London studio. He was I think suggesting paper money would quite possibly be hyperinflated/collapse this year. Or did I mishear? If I indeed didn't mishear or take his remark too seriously, in the words of Richard Hammond, Should I Worry About...Max Keiser's Fiat Apocalypse (if I may put it like that, although not his words) ?

With them printing and printing and the proposed dramatic expansion of FfL in the next quarter http://www.guardian.co.uk/business/2013/jan/03/more-mortgages-credit-bank-of-england (to apparently GBP60Bn?? FfL? Funding for f***'s sake?) I believe they are continuing to try to inflate rather than just fighting deflation. Whether this causes more HPI I don't know yet, but I do worry that it is really not good for the pound to keep printing like this. I could be and would like to be wrong of course as I'm screwed if paper becomes wheelbarrowed. Additionally, they are even more seriously stuffing savers like myself with this scheme. I wonder whether the FfL is a psychological tool to drive people into an asset (eg bricks 'n' mortar} dash or drive GBP down - but if it's the real deal then yes I'd be Mr Anxious of Tunbridge Wells (if I lived there). If they are trying to encourage people into PMs, that would be perverse given the many repeated rumours about the alleged short selling of silver etc.

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Whether this causes more HPI I don't know yet, but I do worry that it is really not good for the pound to keep printing like this.

Asking prices of new stock is going up weekly in my part of the world. Even sensible old school EAs with 30 years in the game think it is completely insane.

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it was only a 49k terrace,the guy i bought it off paid 67k.no idea what percentage drop that is.id not be surprised if the HM doesnt drop another 15-20% over the next 2 years but if you take the rent i was paying at my last place into account ie £500 a month ,then i can take a hit.its for liveing in you see any profit in 20 years is a bonus.

chinnie-rekOn - love your awful maths

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chinnie-rekOn - love your awful maths

Indeed.

hello ladies and gentlemen,well where to start. i presume a brief history will surfice.my names mark i bought a cheap hovel in stoke 3 months ago.for varied reasons i never got on the houseing ladder till i was 47 and even then predominantly i only bought then has im geting increasingly older and figured if i dont get a house now i never might.i dont earn a great deal so it was an interesting 2 years saveing a deposit and sevral interesting visits to banks to get a morgage.convinceing them i could pay the morgage on a carers wage (only me on the morgage) was in itself quite a task.

pet hates,paying interest.keeping up with the jonses and people who point out i cant spell......i know i cant.

Source: The Welcome Thread For New Members

Someone who buys a house (but can't work out the percentage drop from 67 to 49) and then promptly starts posting on a forum called housepricecrash does require a little explanation. Why are you here zombie holocaust and what do you expect to gain from being here?

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Every time I turn on any news channel there is someone trying to talk-up the property market, stock market, economy etc.

Snippets of "good news" are jumped upon by armies of journalists and presenters in a vain attempt to stave off the inevitable :rolleyes:.

Thought all that earlier today. A couple of the talking heads looked weak in their presentation (they know it is B.S IMO) If BBC are talking a thing up, that thing is probably a turd taking a spin round a U-bend? Property is even more screwed in 2013 than it is already IMO.

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Asking prices of new stock is going up weekly in my part of the world. Even sensible old school EAs with 30 years in the game think it is completely insane.

What about the selling....?

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Indeed.

Source: The Welcome Thread For New Members

Someone who buys a house (but can't work out the percentage drop from 67 to 49) and then promptly starts posting on a forum called housepricecrash does require a little explanation. Why are you here zombie holocaust and what do you expect to gain from being here?

why should i need to know the percentage its pretty irrelivent has ive bought it,far more important is the percentage interest saved if i make steady overpayments.well what do i expect to gain,em opinions i see you debate about bullion prices the footsie and i myriad of other subjects besides the bottom falling out of the houseing market.i hope my explanation is good enough for you but pray if it is not what are you going to do? take my birthdays off me?

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why should i need to know the percentage its pretty irrelivent has ive bought it,far more important is the percentage interest saved if i make steady overpayments.well what do i expect to gain,em opinions i see you debate about bullion prices the footsie and i myriad of other subjects besides the bottom falling out of the houseing market.i hope my explanation is good enough for you but pray if it is not what are you going to do? take my birthdays off me?

Are you for real? :unsure:

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i hope my explanation is good enough for you but pray if it is not what are you going to do? take my birthdays off me?

You can relax with regard to the birthday thing. Pretty sure that even the Moderators are unable to take birthdays off posters, presently.

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Beeb on form last night. Radio Five story about how wonderful FLS was. Interviewed a FTB who had obtained a 90% loan, after being offered 50K more than he needed. "It was easy" he said. Obviously no mention of the decimation of savings rates...

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it was only a 49k terrace,the guy i bought it off paid 67k.no idea what percentage drop that is.id not be surprised if the HM doesnt drop another 15-20% over the next 2 years but if you take the rent i was paying at my last place into account ie £500 a month ,then i can take a hit.its for liveing in you see any profit in 20 years is a bonus.

No it's not. Not unless you are going to sell up and rent.

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I have noticed a shift in public attitude regarding house prices in the last 6 months or so. Many more people seem to be asking/waiting for a collapse. Homeowners seem resigned to the fact that it might happpen. And bull's are much quieter than they used to be. Everybody seems to realise the dangers of an ever inflating market, and yet they continue to pump out the fls mantra, get the banks lending. I don't think the public want that anymore, and the disconnect is becoming obvious.

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Beeb on form last night. Radio Five story about how wonderful FLS was. Interviewed a FTB who had obtained a 90% loan, after being offered 50K more than he needed. "It was easy" he said. Obviously no mention of the decimation of savings rates...

Now this I can quite believe because if the banks were holding back with the credit then prices would fall.

In Ireland you can not get a mortgage for more than 3.5x your wage, you application is also stress tested so 2xadults with 1 child must earn €2500 per month after tax BEFORE any repayment are factored in. Therefore if you are taking home €2800pcm and have a wife and two kids then you will be allowed €300pcm towards mortgage payments. That does not buy you mutch.

I would love to see how much you could borrow in the UK on £2800pcm take home pay. £250k @90% ??

Don't forget that it's the banks who price property and frankly they are still pricing out a large section of society.

Edited by Gone to Ireland.

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it was only a 49k terrace,the guy i bought it off paid 67k.no idea what percentage drop that is.id not be surprised if the HM doesnt drop another 15-20% over the next 2 years but if you take the rent i was paying at my last place into account ie £500 a month ,then i can take a hit.its for liveing in you see any profit in 20 years is a bonus.

If its Stoke that is expensive. I can recall in the mid 80's making a visit to Stoke with my business partner and viewing houses up there that we could have bought on our credit cards.

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Some noddy from the city interviewed on BBC News Business.......

"......more money coming through for households....... positive signs from the UK housing market..... surveyors less pessimistic about the outlook for house prices..... shortage of housing..... over a time we're going to see the housing market gradually improve...."

This noddy, who plainly thinks that high house prices are a good thing, was... James Shugg - Senior Economist, Westpac Institutional Bank.

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  • 396 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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