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Dave Beans

Looking To Buy A House In London Or The South-East? Join The Queue

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We need a 'kill me now' emoticon... Where the hell is the money coming from?

Still, I liked the first comment:

It is very important to wipe out any wealth accumulation from the bottom 99% so that it may be redirected to the top 1%. Housing bubbles are especially good at this. More should be expected.

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We need a 'kill me now' emoticon... Where the hell is the money coming from?

Still, I liked the first comment:

Harry Day-Brosnan, 26, is being bought a house "as an investment" by his parents. He has searched for six months and plans to move in with a friend.

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Harry Day-Brosnan, 26, is being bought a house "as an investment" by his parents. He has searched for six months and plans to move in with a friend.

Well, they can shove their hyphen where the sun don't shine... twats.

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Welcome to the dark side, mwahahahahahaha.

:P

Heh - well, I've never hidden my contempt for BTLers and similar. I shall say no more to protect the blood pressure and monitor of a certain forum poster... B)

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Never join a queue to buy an asset.

I couldn't agree more!

Lots of people in their 20's looking. I thought all these young people were priced out at the current prices. They are finding the money for their 5% disposit from somewhere!

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Never join a queue to buy an asset.

You wait for the deals to begin coming to you, and then you wait, until they get ever more desperate and more people chasing you to put in an offer.

Those innocents all pushing and falling over one another to pay crazy high prices. Those gates/bars in the pics. Rush to overpay to get behind your home-ownership bars at super-high prices.

#Deadmoneyrenting #Media #BelieveWhatTheirParentsToldThemSmallIslandFoeverHPI #TheyJustWantedAHome #IgnoranceMakesThemSuperiorToAllOthers #Can'tHaveHPC #WontYouThinkOfTheVictims #PricesGoUp-ThereforeTheyAlwaysGoUP #Crunch1.0TotallyForgotten.

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Those poor young people. It's like lambs to the slaughter.

They just want a home. It should be an exciting and hopeful time of one's life....not one driven by fear and trepidation of losing out forever more whilst saddling oneselves with unimaginable debts..

Stop forgiving and making up excuses for them will you. <_<:)

They're superior... not driven by fear or trepidation at all. The debt is smart. It's only forever HPI.

Plenty of them are being enabled by their HPI-forever parents.

Entitled younger people caught up in bubble frenzy, and plenty with HPI-forever parents enabling them.

These younger people don't get my sympathy, for paying super high prices. They don't even question prices, long-term debt position, thoughts of prices ever softening. Yet so many treat them as victims.

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Those poor young people. It's like lambs to the slaughter.

They just want a home. It should be an exciting and hopeful time of one's life....not one driven by fear and trepidation of losing out forever more whilst saddling oneselves with unimaginable debts..

Just being fattened up at the moment in their inadequate pens - the slaughter comes later. That the banks have done this to us all is shameful; that governments have let them is monstrous.

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Those poor young people. It's like lambs to the slaughter.

They just want a home. It should be an exciting and hopeful time of one's life....not one driven by fear and trepidation of losing out forever more whilst saddling oneselves with unimaginable debts..

Buyers-gather-yesterday-o-011.jpg

Many people care little about debt these days....a means to an end, debt is part of life....from cradle to grave........only debt can now bring the things you want, there is not enough money to go around.

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yes they queued to buy off plan then they queued to go to court to try and break the contract when prices dropped to 50% of their purchase price.

Seen it all - remember when they actually flew in from the mainland to get on the property ladder over here since prices just couldn't drop.

:D And Southern car registrations became the norm as the investors flocked into East Belfast to spend 250K on apartments now selling for less than half that and rented at 700 a month.

Long waiting times at Fermanagh House as the insolvency office struggled to cope with the bankruptcys...

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They're superior... not driven by fear or trepidation at all.

You won't buy because you fear the debt- they are buying now for the same reason- fear of even greater debt in the future if they don't buy now- so the difference between them and you is not as great as you seem to imagine.

Sure there are some idiots out there who think they are being 'savvy investors' but there are also many people who being herded by fear of future price rises into buying now- and to deny that is to deny an obvious reality.

So rather than constantly blaming the victims of this debacle I would rather blame the people who could in fact do something about it- the Government and the Bank of England, who between them have engineered this mess and continue to facilitate it.

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Many people care little about debt these days....a means to an end, debt is part of life....from cradle to grave........only debt can now bring the things you want, there is not enough money to go around.

I saw (this) James Morison live. He is a ridiculous musician. He made a big band album where he played all the instruments apart from drums. He played trumpet, trombone, alto, tenor, bari, piano and bass all to virtuoso standard. And the drummer was his brother!!!

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You won't buy because you fear the debt- they are buying now for the same reason- fear of even greater debt in the future if they don't buy now- so the difference between them and you is not as great as you seem to imagine.

Sure there are some idiots out there who think they are being 'savvy investors' but there are also many people who being herded by fear of future price rises into buying now- and to deny that is to deny an obvious reality.

So rather than constantly blaming the victims of this debacle I would rather blame the people who could in fact do something about it- the Government and the Bank of England, who between them have engineered this mess and continue to facilitate it.

The difference between us is not so much?

Always pathetic excuses for 20+ year olds paying astonishing prices, year after year, decade after decade now. Often enabled by their parents, who even after 2008, believe in forever HPI again. Oh "they just wanted a home." (*At any price) It's a competitive market, and they're buying at prices they feel is good and smart and clever to do. There's no such sympathy for those of us growing ever older and renting and been done over by QE and everything else.

Also there is the possibility they could be correct (more blistering HPI to come for years), on top of last two years blistering HPI, on top of reflation apace from 2009.

If these buyers dropped away, prices would fall. Why would I care about the circumstances/outcomes of an Irish woman wanting to over-borrow/overpay/get BOMAD to outbid me on housing? Or sisters Ottilie Claris, left, and Ngaio. I don't know or care about these people. They don't consider non-owners/renters, and when they do, it's renting is dead money often. They are my enemy, not people I feel sympathy for. It's a competitive market, and they're on the active enemy side of keeping me priced out.

People make their own decisions. This forum were crying about being victims (media made them buy ect ect) many of them now seen their homes up 30% in value. The banks are a mirror for wider society in my opinion, which heavily believes in forever HPI.

Mortgage lending rises 4% in March, and 37% for the quarter

theguardian.com

Thursday 17 April 2014

http://www.theguardian.com/money/2014/apr/17/mortgage-lending-march-rises-four-percent

Meanwhile in US lending down, but investors, who I dread coming here to maintain the new reality for Bubble 3.0 (if they're not already active), taking over, and a new push to get younger people into debt to meet current asking prices.

Lending Plunges to 17-Year Low as Rates Curtail Borrowing

2014-04-14

http://www.bloomberg.com/news/2014-04-14/lending-plunges-to-17-year-low-as-rates-curtail-borrowing.html

WSJ - April 18, 2014

Mortgage Lenders Ease Rules for Home Buyers in Hunt for Business

Banks Ease Standards Enacted After the Housing Boom Turned to Bust in Sign of Rising Confidence

The credit freeze is starting to thaw. Mortgage lenders are beginning to ease the restrictive lending standards enacted after the housing boom turned to bust, a sign of their rising confidence in the housing market. While standards remain tight by historical measures, lenders have started to accept lower credit scores and to reduce...

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George Osborne is very proud of his property bubble, he set out to create one. Carney's modus operandi is well known as in Canada he created the world's biggest property bubble. The momemtum is in place to pump the bubble for at least a year probably two before the new government (Labour) decide to either keep it going by extending HtB and introducing new schemes or switch and decide to win the votes of the renting generation of under 40s and secure a firm 10 to 15 years of a Labour government. Current Tory policy is short term vote gain by HPI and protection of the grey vote .... many of whom are turning UKIP.

From a Labour MP's point of view, I suspect they would want a crash so they can pick up some cheap assets prior to pumping another bubble and enriching themselves in the process. This is the reason that you will never reach stable high prices - there are too many vested interest who want to pick up cheap assets [HPC'ers included]

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From a Labour MP's point of view, I suspect they would want a crash so they can pick up some cheap assets prior to pumping another bubble and enriching themselves in the process. This is the reason that you will never reach stable high prices - there are too many vested interest who want to pick up cheap assets [HPC'ers included]

I would generalise that politicians prioritise power over all else so it will be all about re-election. Once a bubble is established, it can do two things: grow at an accelerating rate, or burst. So a new government in 2015 looking at 2020 could either try to engineer 5 years of growth at 20-30% (which compounded would approximately triple prices during the parliament), or let it burst straight away, blame it on the last government, and have 4 years to start appearing to fix it.

To me the die is cast - once you're hitting 20% annually there is no way back. The East London stampede is proof we're in the delusion phase - people are paying any price without a thought for intrinsic value or quality. Does anyone really think there'll be 150 people queueing to pay £1.5m for a dump of a flat in a grim part of London 5 years from now?

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The Muppets roll up. Buy to not miss the boat, repent at leisure. Their very actions are the cause of this stupidity, I am in a position to buy - but will not, because the market consists of over priced shyte, and idiots prepared to buy it.

Thats right. Idiots with borrowed money are prepared to buy. Isn't it easy to spend someone else money (with a government guaranteed mortgage)! I wonder just how much these idiots would be prepared to spend if (like a few on here) they had saved up the total amount in cash!

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What is funny, is it is REAL money. The link between the cash and mortgage is lost for many, apart from that brief visit from reality, and terror, in the early hours when sleep evades. This was shown on that recent awful EA program, where people were spending £1.2M on a hideous flat / student digs in London, and there was a rather nice house for sale in Scotland for a similar amount.

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What is funny, is it is REAL money. The link between the cash and mortgage is lost for many, apart from that brief visit from reality, and terror, in the early hours when sleep evades. This was shown on that recent awful EA program, where people were spending £1.2M on a hideous flat / student digs in London, and there was a rather nice house for sale in Scotland for a similar amount.

Yes, there is total disconnect in many buyers minds. I think it has to come down to rents. Rent (although falling) are still very high and it can be found that a mortgage will cost less a month than the rent (although the dwellings are likely to be worst and additional costs of buying can tip the balance) in some areas. Until the difference in renting and buying is visibly greater to most people, the myth of rent being dead money will remain and people will pour everything they have access to (Highest mortgage possible, cash from the BOMAD, Tax payers backed mortgages) into getting onto the property ladder.

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Yes, there is total disconnect in many buyers minds. I think it has to come down to rents. Rent (although falling) are still very high and it can be found that a mortgage will cost less a month than the rent (although the dwellings are likely to be worst and additional costs of buying can tip the balance) in some areas. Until the difference in renting and buying is visibly greater to most people, the myth of rent being dead money will remain and people will pour everything they have access to (Highest mortgage possible, cash from the BOMAD, Tax payers backed mortgages) into getting onto the property ladder.

Aww let's take 'collective responsibility' for their buying actions. We'll just rent as buyers enjoy forever bailouts and more HPI.

The calculations involved are not very complicated, together with reviewing some of the risks, benefits and downsides of owning vs renting and considering future direction of house prices. Although for house prices, it does seemingly appear to be forever HPI. (I choose not to believe it though.)

So maybe they are making the correct decision, people sob about them buying at ever higher prices.

If this was true, in 2012, renting frenzy in Dublin 2012. Although they're trying to reflate house prices in Dublin, it seems to me, at the same time. http://www.politics.ie/forum/economy/196980-dublin-rental-market-like-2003-again-massive-queues-gazumping-will-rent-without-viewing.html

Hugmj.jpg

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