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I went into a well known EA office in Swansea's Walters Road today - it being the centre for most of the EAs in Swansea much like, IMPO, the nest where the Queen resides in Aliens! :blink:

Anyhow, I got chatting with the EA and I got the usual "When are you thinking of buying? Are you a cash buyer?" to which I replied that I was going to leave it till the end of next year at the earliest.

I then got a speel about how now is the best time to buy, prices are going to rise in the Spring, how house prices only ever go up and never fall, and how fewer buyers around now means that I am in a strong position.

To which, pausing to take a deep breath, I proceeded to educate him on the current situation, about the BTL market, about SIPPs, about Self-cert mortgages, how the finaicial markets relaxed credit after 2001 to stop the World slipping into global recession, about the earning multiples and how local HPs were 10 or 20 times the local average salary, how some of the UK's top economists were now saying that HPs were going to crash big time, about a nation obsessed with painting houses beige, about the pensions scandal, about the 1.2 TRILLION UK unsecured debt, about the Wall Street Crash, the Tokyo housing collapse, Tulipmania, etc, etc, etc..

Suffice to say that this boy - an EA who acted very knowledgeable about things when I first entered the office - knew nothing of the above. By the end of the conversation, at which point about half a dozen other customers had joined in and were listening to my 'economics' lecture, he, wait for this, was asking me whether he himself should buy or not!

I then pointed him in the direction of HPC and once I had told him about this site all the other customers asked if he could scribble down the url for them. I gave them a few other sites as well such as where to get info on how much houses had actually been sold for, various economic sites like The Economist and also pointed them to look at the Oz housing market which is currently just slipping off that cliff.

At the end of which he admitted that he was only a part-timer, only had been working in the EA's office for X (edited to not give him away) months and that he had no idea of "complex financial stuff unlike you (me)".

He then admitted that a house I had been looking at, well, the house next door was identical and had come on the market at 40K less with it eventually being sold for 20K below that - so 60K less than the house I just happened to glance at. He said the only reason it was advertised so expensively was because the owners saw how much the other house had been advertised at and wanted their house advertised at more - the only difference is a circular bath by all accounts.

He said that it would never sell at the current price and everyone in the branch knew that it would "have to fall by at least 90K before it even attracted interest.".

Edited by The Masked Tulip

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No, far from it.

Interestingly, the chap in question looked really professional in his smart business suit, slicked back hair and he talked the talk if you know what I mean. I have no doubt that many people take him at first glance and assume that whatever he says about the current housing market is 100% spot on. However, once challenged I foudn him frightfully honest in admitting his shortcomings and only too eager to actually learn about the real situation.

He said he was going to visit this site when he got home as did several of the others in the office who had started to listen in on the conversation. A few of them recited their own horror stories, some said they were lucky to have sold recently and others mentioned the "stupid prices" compared to local salaries, etc. So it looks like some people are working out for themselves that things cannot go on as they are but, perhaps, simply lack the information to get a better and clearer picture. The lack of such info on the mainstream Media, as discussed on this site before, is no doubt a factor.

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He said he was going to visit this site when he got home as did several of the others in the office who had started to listen in on the conversation. A few of them recited their own horror stories, some said they were lucky to have sold recently and others mentioned the "stupid prices" compared to local salaries, etc. So it looks like some people are working out for themselves that things cannot go on as they are but, perhaps, simply lack the information to get a better and clearer picture. The lack of such info on the mainstream Media, as discussed on this site before, is no doubt a factor.

No one on this board should be surprised about this. This is why we have boom and busts. One day people just relise that the emporer has no clothes and they do the exact opposite of what they were doing. Next stop is down. Then people will relise that there rent exceeds what the mortgage would be and they'll start buying again - until rents exceed the mortgage by a margin - HPI - rent is a small % of the mortgage - HPC ad nauseaum. :rolleyes:

Boom - Bust To break this cycle or to molify it would entail a lot of people understanding basic economics and being able to keep a lid on their ego :lol:

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No one on this board should be surprised about this. This is why we have boom and busts. One day people just realise that the emporer has no clothes and they do the exact opposite of what they were doing. Next stop is down.

This is what happened with the infamous, but I have a certain affection for it, Tulip Bubble of the 17th Century.

Prices kept on going up and up until, apparently, at one auction where prices were expected to reach an even greater height the opposite happened - prices plummeted and then continued to do so leaving virtually the entire adult population of Holland ruined finanically.

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This is what happened with the infamous, but I have a certain affection for it, Tulip Bubble of the 17th Century.

Prices kept on going up and up until, apparently, at one auction where prices were expected to reach an even greater height the opposite happened - prices plummeted and then continued to do so leaving virtually the entire adult population of Holland ruined finanically.

Not forgetting arguably the most intelligent sucker of all time - Sir Isaac Newton!

:o

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So it's our duty, all of us, to go into our local estate agents, and do the same!

How about a Christmas card to cheer the buggers up!

Suggested wording:

#Hark the Herald angels sing#

"I WANT to a PURCHASE a house!" :blink:

#Ding Dong the merry bells are ringing - anyone @ home?#

"I promise to buy a house" (think COMMISSION) but Only when they have dropped 40% or more (think TALK PRICES DOWN)!

How about an 'estate agent' version of 12 days to Christmas? :D

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He said he was going to visit this site when he got home as did several of the others in the office who had started to listen in on the conversation.

If they log do log into HPC, then let's hear their side of the story. From the detail in your story they would know who they are.

K.

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No one on this board should be surprised about this. This is why we have boom and busts. One day people just relise that the emporer has no clothes and they do the exact opposite of what they were doing. Next stop is down. Then people will relise that there rent exceeds what the mortgage would be and they'll start buying again - until rents exceed the mortgage by a margin - HPI - rent is a small % of the mortgage - HPC ad nauseaum. :rolleyes:

Boom - Bust To break this cycle or to molify it would entail a lot of people understanding basic economics and being able to keep a lid on their ego :lol:

I've taken the decision not to buy when I would normally have bought had prices been affordable. I am middle income and have a deposit. How many more are like me, how many more are about to come like me and how many have bought when they shouldn't have?

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Guest STR2004

How about an 'estate agent' version of 12 days to Christmas? :D

Apologies in advance...

On the first day of Christmas,

my EA sent to me

A one bed flat, no parking with fleas.

On the second day of Christmas,

my EA sent to me

Two purple dives,

And a one bed flat, no parking with fleas.

On the third day of Christmas,

my EA sent to me

Three crack dens,

Two purple dives,

And a one bed flat, no parking with fleas.

..etc

I can't go on - it's killing me (and you probably) :D

STR

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I went into a well known EA office in Swansea's Walters Road today - it being the centre for most of the EAs in Swansea much like, IMPO, the nest where the Queen resides in Aliens! :blink:

Anyhow, I got chatting with the EA and I got the usual "When are you thinking of buying? Are you a cash buyer?" to which I replied that I was going to leave it till the end of next year at the earliest.

I then got a speel about how now is the best time to buy, prices are going to rise in the Spring, how house prices only ever go up and never fall, and how fewer buyers around now means that I am in a strong position.

To which, pausing to take a deep breath, I proceeded to educate him on the current situation, about the BTL market, about SIPPs, about Self-cert mortgages, how the finaicial markets relaxed credit after 2001 to stop the World slipping into global recession, about the earning multiples and how local HPs were 10 or 20 times the local average salary, how some of the UK's top economists were now saying that HPs were going to crash big time, about a nation obsessed with painting houses beige, about the pensions scandal, about the 1.2 TRILLION UK unsecured debt, about the Wall Street Crash, the Tokyo housing collapse, Tulipmania, etc, etc, etc..

Suffice to say that this boy - an EA who acted very knowledgeable about things when I first entered the office - knew nothing of the above. By the end of the conversation, at which point about half a dozen other customers had joined in and were listening to my 'economics' lecture, he, wait for this, was asking me whether he himself should buy or not!

I then pointed him in the direction of HPC and once I had told him about this site all the other customers asked if he could scribble down the url for them. I gave them a few other sites as well such as where to get info on how much houses had actually been sold for, various economic sites like The Economist and also pointed them to look at the Oz housing market which is currently just slipping off that cliff.

At the end of which he admitted that he was only a part-timer, only had been working in the EA's office for X (edited to not give him away) months and that he had no idea of "complex financial stuff unlike you (me)".

He then admitted that a house I had been looking at, well, the house next door was identical and had come on the market at 40K less with it eventually being sold for 20K below that - so 60K less than the house I just happened to glance at. He said the only reason it was advertised so expensively was because the owners saw how much the other house had been advertised at and wanted their house advertised at more - the only difference is a circular bath by all accounts.

He said that it would never sell at the current price and everyone in the branch knew that it would "have to fall by at least 90K before it even attracted interest.".

You're so naughty. Mr/Mrs Tulip (i'm not sure if you're male or female - can you check and let me know?).

Didn't the manager ban you?

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How about an 'estate agent' version of 12 days to Christmas? :D

Couldn't resist. Sorry.

On the first day of Christmas,

my vendor offered me

The carpets and curtains for free.

On the second day of Christmas,

my vendor offered me

Two grand cashback

And the carpets and curtains for free.

On the third day of Christmas,

my vendor offered me

Stamp du-ty,

Two grand cashback,

And the carpets and curtains for free.

On the fourth day of Christmas,

my vendor offered me

Four weeks in Spain,

Stamp du-ty,

Two grand cashback,

And the carpets and curtains for free.

On the fifth day of Christmas,

my vendor offered me

Con-veyancing fees,

Four weeks in Spain,

Stamp du-ty,

Two grand cashback,

And the carpets and curtains for free.

On the sixth day of Christmas,

my vendor offered me

Sex (on completion),

Con-veyancing fees,

Four weeks in Spain,

Stamp du-ty,

Two grand cashback,

And the carpets and curtains for free.

On the seventh day of Christmas,

my vendor offered me

Free home insurance,

Sex (on completion),

Con-veyancing fees,

Four weeks in Spain,

Stamp du-ty,

Two grand cashback,

And the carpets and curtains for free.

On the eighth day of Christmas,

my vendor offered me

No more gazumping,

Free home insurance,

Sex (on completion),

Con-veyancing fees,

Four weeks in Spain,

Stamp du-ty,

Two grand cashback,

And the carpets and curtains for free.

On the ninth day of Christmas,

my vendor offered me

New four by four,

No more gazumping,

Free home insurance,

Sex (on completion),

Con-veyancing fees,

Four weeks in Spain,

Stamp du-ty,

Two grand cashback,

And the carpets and curtains for free.

On the tenth day of Christmas,

my vendor offered me

Ten grand deposit,

New four by four,

No more gazumping,

Free home insurance,

Sex (on completion),

Con-veyancing fees,

Four weeks in Spain,

Stamp du-ty,

Two grand cashback,

And the carpets and curtains for free.

On the eleventh day of Christmas,

my vendor offered me

New plasma telly,

Ten grand deposit,

New four by four,

No more gazumping,

Free home insurance,

Sex (on completion),

Con-veyancing fees,

Four weeks in Spain,

Stamp du-ty,

Two grand cashback,

And the carpets and curtains for free.

On the twelfth day of Christmas,

my vendor offered me

His wife for the evening,

New plasma telly,

Ten grand deposit,

New four by four,

No more gazumping,

Free home insurance,

Sex (on completion),

Con-veyancing fees,

Four weeks in Spain,

Stamp du-ty,

Two grand cashback,

And the carpets and curtains for free!

And I still said I thought I'd wait a while longer.

If Chris Parker wants to put it to an animation, he's most welcome.

:D

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You're so naughty. Mr/Mrs Tulip (i'm not sure if you're male or female - can you check and let me know?).

Didn't the manager ban you?

No, as I arrived the boss guy and another chap were in a rush to go somewhere. As they left a girlie EA arrived looking tired and flustered but she then disappeared into the back... so I seized the day... ;-)

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I went into a well known EA office in Swansea's Walters Road today - it being the centre for most of the EAs in Swansea much like, IMPO, the nest where the Queen resides in Aliens! :blink:

Anyhow, I got chatting with the EA and I got the usual "When are you thinking of buying? Are you a cash buyer?" to which I replied that I was going to leave it till the end of next year at the earliest.

I then got a speel about how now is the best time to buy, prices are going to rise in the Spring, how house prices only ever go up and never fall, and how fewer buyers around now means that I am in a strong position.

To which, pausing to take a deep breath, I proceeded to educate him on the current situation, about the BTL market, about SIPPs, about Self-cert mortgages, how the finaicial markets relaxed credit after 2001 to stop the World slipping into global recession, about the earning multiples and how local HPs were 10 or 20 times the local average salary, how some of the UK's top economists were now saying that HPs were going to crash big time, about a nation obsessed with painting houses beige, about the pensions scandal, about the 1.2 TRILLION UK unsecured debt, about the Wall Street Crash, the Tokyo housing collapse, Tulipmania, etc, etc, etc..

Suffice to say that this boy - an EA who acted very knowledgeable about things when I first entered the office - knew nothing of the above. By the end of the conversation, at which point about half a dozen other customers had joined in and were listening to my 'economics' lecture, he, wait for this, was asking me whether he himself should buy or not!

I then pointed him in the direction of HPC and once I had told him about this site all the other customers asked if he could scribble down the url for them. I gave them a few other sites as well such as where to get info on how much houses had actually been sold for, various economic sites like The Economist and also pointed them to look at the Oz housing market which is currently just slipping off that cliff.

At the end of which he admitted that he was only a part-timer, only had been working in the EA's office for X (edited to not give him away) months and that he had no idea of "complex financial stuff unlike you (me)".

He then admitted that a house I had been looking at, well, the house next door was identical and had come on the market at 40K less with it eventually being sold for 20K below that - so 60K less than the house I just happened to glance at. He said the only reason it was advertised so expensively was because the owners saw how much the other house had been advertised at and wanted their house advertised at more - the only difference is a circular bath by all accounts.

He said that it would never sell at the current price and everyone in the branch knew that it would "have to fall by at least 90K before it even attracted interest.".

Oh I so LOVED LOVED reading this Masked Tulip - it's made my day - just SO funny!!!! What a laugh!!!

Edited by eric pebble

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I do enjoy reading about manias and bubbles - indeed I was reading a wonderful childrens' book about the Wall Street Crash when I decided on my cyber name. And yes 29-9-29 is supposed to be one month BEFORE the actuall 29-10-29 crash i.e. that's where we are now - before the crash. Geddit????!!!????

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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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