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jasonpistol

Rightmove Predictions

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Hope they and the main sold price indices go up strongly this month so there is nothing to let the FPC off the hook in June. They will presumably take any excuse they can not to act so let's hope that none is provided.

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Ha ha ha ha ha ha (demonic laugh).

This is one big last hurrah of a bubble that is going to burst big time:

http://www.rightmove.co.uk/news/house-price-index/may-2014

http://www.rightmove.co.uk/news/files/2014/05/may-2014.pdf

£10k more in a month. London properties have risen £4500 per WEEK in 2014. This is FUBAR and no mistake.

Waiting patiently on the sidelines...

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Ha ha ha ha ha ha (demonic laugh).

This is one big last hurrah of a bubble that is going to burst big time:

http://www.rightmove.co.uk/news/house-price-index/may-2014

http://www.rightmove.co.uk/news/files/2014/05/may-2014.pdf

£10k more in a month. London properties have risen £4500 per WEEK in 2014. This is FUBAR and no mistake.

Waiting patiently on the sidelines...

Haha! Well that seems totally reasonable to me. Didn't everyone else's wages go up by £10k last month as well??!

There seems a real mania about houseprice inflation now. Wonder how long this mania will go on for now?

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Hope they and the main sold price indices go up strongly this month so there is nothing to let the FPC off the hook in June. They will presumably take any excuse they can not to act so let's hope that none is provided.

You are the winner sir.

Though london inflation has cooled from +18% to +16%.

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You are the winner sir.

Though london inflation has cooled from +18% to +16%.

Woohoo, we're all rich...in asking price-pounds.

One of my neighbours have put their house on for 100K more than they same house that has "sold" and is sitting on a chain.

Asking price-tastic.

Edited by TheCountOfNowhere

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any thoughts on tomorrows rightmove figures?

hoping for some nice mmr fall out

In a cautious reponse to media coverage of MMR and talk of a bubble, new vendors to the market asked for record prices for their pile of bricks...

Any prospect of a soft landing has just evaporated - the sheer levels of greed out there make a second crash inevitable now.

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This 'record breaking' house price inflation is not shown on the BBC website this morning.

Why is that?

Who knows....maybe all the editors have sold their portfolios ?

The rightmove index shouldn't be given "air time"...it's based on nothing more than first listing price that agents bump up to get work.

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Who knows....maybe all the editors have sold their portfolios ?

The rightmove index shouldn't be given "air time"...it's based on nothing more than first listing price that agents bump up to get work.

It's been a while since we've had an update of the Delusion Index...

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Any prospect of a soft landing has just evaporated - the sheer levels of greed out there make a second crash inevitable now.

+ 1.

The London mega bubble mania is destroying itself.

My only question is.....which banks and building societies should we withdrawing our money from ?

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Are the TV news channels all over this? (I'm in France and WiFi is really slow today so can't stream).

I've stopped watching TV the screaming and swearing became too much for my wife.

I think the word bubble and burst were used on talk sport today, although I got the feeling they managed to twist the story into a buy now before you miss out...which explains why I was shouting at the radio at 6-40 a.m.

Edited by TheCountOfNowhere

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I paid £20 last week but they are doubling in price value every week so £50 cos next week they will be over £80 ... guaranteed. Your last chance as I go to sealed bids tomorrow and you would not want to miss out.

I'll tell you what, so I dont miss out I'll give you £60.

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+ 1.

The London mega bubble mania is destroying itself.

My only question is.....which banks and building societies should we withdrawing our money from ?

My only question is how the banks and building societies are going to fare with weakening credit growth - especially mortgages. It's all about credit growth.

The main banks have already had loads QE and FLS, and even weak smaller operators been taken over by other market participants or savers likely to be protected.

The London (and other semi-to-prime area) bubble is mostly on cash purchases? Or at least not main banks exposure. Cash purchases are not good for banks. New mortgages where they earn x2 - x3 over 25 years is where it's at. Even a 50% prime crash, and loads new mortgages written to new entrants... that's got to look good for the banks.

If weak credit-growth is the concern... and if I were a banker it would be for me (for that's where the money is).... then one solution is to get house prices down, and write loads of new mortgages. With a rush of sellers coming to market before they lose even more value on "what it is worth".

I know Broadbent got slammed a couple of days ago over the below (can't find the thread), but I think his position is opaque but overall encouraging.

BoE's Broadbent: 14 May 2014
Debt-to-income ratios have fallen and it is wrong to say the recovery is debt-fuelled, he said. 'What really matters is not just house prices per se but whether there is a lot of credit growth on back of that. Currently, there isn’t a great deal,' he said.
'It’s clearly something the Bank and the Financial Policy Committee will want to keep an eye on.' Earlier he said: 'Even over the last year mortgage debt in aggregate has failed to grow, or barely, I think it is up 1 per cent.'
British house prices jumped about 10 percent in the 12 months to April, raising concerns about a new bubble in the property market. The Bank of England's Financial Policy Committee (FPC) is due to meet next month and many economists expect it may take measures to control credit.
On Wednesday, the BoE's monetary policymakers signalled they were in no rush to raise interest rates. Broadbent said the Bank had already taken its foot off the accelerator in terms of reducing encouragement for mortgage credit by focusing its Funding for Lending Scheme exclusively on business lending.

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I'll tell you what, so I dont miss out I'll give you £60.

I'm having an open tulip day on Saturday. You can take a look around but be ready to get into a bidding war; I expect you to have to go to £90, which is a much better investment because it's rising in price value faster than his is.

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I'm having an open tulip day on Saturday. You can take a look around but be ready to get into a bidding war; I expect you to have to go to £90, which is a much better investment because it's rising in price value faster than his is.

The last open tulip day I went to had a queue of people out side waiting to buy. the tulip agent told me they were all going to offer on the tulip for sale and I should get in before I miss out.

Only yesterday I saw on money saving mums net, they had a thread of buying tulips before there were none left, it seems they are not growing any more tulips this year,

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The London (and other semi-to-prime area) bubble is mostly on cash purchases? Or at least not main banks exposure.

I don't believe that is going to be the case.

There is no cash only credit - this money is backed off to something - and probably part of some horrifically complicated leverage mechanism that doesn't look like a mortgage - and is 10x more damaging when asset price drops below original purchase price.

I suspect we'll find out in a few years that high LTV consumer mortgages were the last thing we should have been worrying about.

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Only yesterday I saw on money saving mums net, they had a thread of buying tulips before there were none left, it seems they are not growing any more tulips this year,

They're quite right, but the savvy investor knows that it's far better to buy an off-plan tulip anyway. That way you get a discount against next year's prices, which will be significantly higher than today's. So I can let you have one of those for just £100, with an absolutely guaranteed immediate capital appreciation of 10% between now and the time when it is grown.

All you have to do is come along to one of my seminars at a cost of just £1,000 and a year from now you'll be laughing at all the stupid mugs who are working for a living instead of owning tulips.

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They're quite right, but the savvy investor knows that it's far better to buy an off-plan tulip anyway. That way you get a discount against next year's prices, which will be significantly higher than today's. So I can let you have one of those for just £100, with an absolutely guaranteed immediate capital appreciation of 10% between now and the time when it is grown.

All you have to do is come along to one of my seminars at a cost of just £1,000 and a year from now you'll be laughing at all the stupid mugs who are working for a living instead of owning tulips.

I dont have to bother with that, I am a cash rich investor who has a helpful tulip agent in london selling me london tulips so I am going all in and buying now, right now, today now, so I can secure my little bit of london gold. My agent tells me the tulip market in London is red hot and will lead the economic recovery. The government has announced a FFT scheme and a Help To Grow scheme, it's win win win.

I can only see london tulips going one way now. This is the new paradigm era, it really if different this time, my tulips are going to the moon.

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