billybong Posted January 6, 2016 Share Posted January 6, 2016 (edited) and still interest rate are at a three hundred near low. Some would say at a 5000 years low - at least. It's quite possible that they're at the lowest level in the history of mankind and even the cave dwellers were more financially astute than the likes of the BoE and the Fed etc. Edited January 6, 2016 by billybong Quote Link to comment Share on other sites More sharing options...
thejaksie Posted January 6, 2016 Share Posted January 6, 2016 Would be interesting to do a collective count of how many people HPC'ERS collectively know of in their social /work circles that are actively thinking about buying in london currently. I know none, everyone has given up and waiting. If that's a representation of the rest it could be very interesting indeed Quote Link to comment Share on other sites More sharing options...
Sawitcoming Posted January 6, 2016 Share Posted January 6, 2016 Would be interesting to do a collective count of how many people HPC'ERS collectively know of in their social /work circles that are actively thinking about buying in london currently. I know none, everyone has given up and waiting. If that's a representation of the rest it could be very interesting indeed I know some well off people paying big rents around here who are feeling chronically priced out. Six months ago a colleague sold up his one bed flat in London of course with big HPI and I think he got over asking price and by some margin and bought house in Hove. Was touch and go for a while as bank valuation on the first offer he had for silly money over asking declined to provide mortgage on it at that price. When I would talk to him about house prices he just thought I was mad and could see no problem with the market. Another very smug colleague got himself a BTL flat a couple of months ago and is renting it to one of the contractors that works at our place. What could go wrong with that? I didn't bother to get into a conversation about C24, Basel III etc. I will assume he has done his research on this. Hear hipster kids at work talking about looking in Purley in search of affordability? Somewhere other side of Croydon evidently.Must be nice there. I do hear a lot more openness about being priced out. People that may have been embarrassed to say they rent are happier to talk about the unfairness. Its not a personal failure anymore, people are recognising that it is a social problem that is not their fault. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 6, 2016 Author Share Posted January 6, 2016 I know some well off people paying big rents around here who are feeling chronically priced out. Six months ago a colleague sold up his one bed flat in London of course with big HPI and I think he got over asking price and by some margin and bought house in Hove. Was touch and go for a while as bank valuation on the first offer he had for silly money over asking declined to provide mortgage on it at that price. When I would talk to him about house prices he just thought I was mad and could see no problem with the market. Another very smug colleague got himself a BTL flat a couple of months ago and is renting it to one of the contractors that works at our place. What could go wrong with that? I didn't bother to get into a conversation about C24, Basel III etc. I will assume he has done his research on this. Hear hipster kids at work talking about looking in Purley in search of affordability? Somewhere other side of Croydon evidently.Must be nice there. I do hear a lot more openness about being priced out. People that may have been embarrassed to say they rent are happier to talk about the unfairness. Its not a personal failure anymore, people are recognising that it is a social problem that is not their fault. Social problem? Systematic fraud and corruption problem IMHO!!!! Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 6, 2016 Author Share Posted January 6, 2016 Would be interesting to do a collective count of how many people HPC'ERS collectively know of in their social /work circles that are actively thinking about buying in london currently. I know none, everyone has given up and waiting. If that's a representation of the rest it could be very interesting indeed I know plenty who have sold then massively over paid in the shires. The Lord giveth and the Lord taketh away. Someone said to me yes Christmas they'd given up looking, it map pointless. Quote Link to comment Share on other sites More sharing options...
Sawitcoming Posted January 6, 2016 Share Posted January 6, 2016 I know plenty who have sold then massively over paid in the shires. Oh yeah there was one contractor who sold her London flat and bought a cottage with a bit of a paddock up Northampton way. In a conversation with her she actually said "its my pension". So her and her partner would have to stay in a hotel all week to work in central London. No idea what she paid but she was one of those really <sarcasm>astute property types</sarcasm>. I could tell from the raised eyebrow of pity that she gave me when I said she was F****g mental for buying with her gains. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 6, 2016 Author Share Posted January 6, 2016 Oh yeah there was one contractor who sold her London flat and bought a cottage with a bit of a paddock up Northampton way. In a conversation with her she actually said "its my pension". So her and her partner would have to stay in a hotel all week to work in central London. No idea what she paid but she was one of those really <sarcasm>astute property types</sarcasm>. I could tell from the raised eyebrow of pity that she gave me when I said she was F****g mental for buying with her gains. Obviously not twigged that when London collapses there is NO one locally that can afford the silly prices being paid by then with bags of free untaxed money Who are they going to sell or rent to come pension cash in time I've seen it with my own eyes, 18 months ago people saying 800k for a house no one would raze half that for at the Peak of the 2007 madness. The London bubble is having a bad long term effect on the shires IMHO, only time will tell. Quote Link to comment Share on other sites More sharing options...
MississippiJohnHurt Posted January 6, 2016 Share Posted January 6, 2016 Problem for Chinese buyers is weakening yuan obviously unless they've already offshored. Yep and also indicates capital outflow so incentivising the authorities even more re capital controls. They've already had a go at that recently, cracking down on Macau etc. Quote Link to comment Share on other sites More sharing options...
porca misèria Posted January 7, 2016 Share Posted January 7, 2016 That's what they said in Carlisle last autumn That wasn't a boat, it was an ark. Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted January 7, 2016 Share Posted January 7, 2016 I hope it falls a little more I'm waiting to pounce. Quote Link to comment Share on other sites More sharing options...
Vigilante1 Posted January 7, 2016 Share Posted January 7, 2016 Some would say at a 5000 years low - at least. It's quite possible that they're at the lowest level in the history of mankind and even the cave dwellers were more financially astute than the likes of the BoE and the Fed etc. Just loving this! Quote Link to comment Share on other sites More sharing options...
Vigilante1 Posted January 7, 2016 Share Posted January 7, 2016 We all form an opinion based on the available info. Mine is that it will crash and from where we are now 60% would be a correction. I do not underestimate the plate spinning abilities of tptb. however I think even they would welcome a correction now and will do little if faced with a correction. AGREED! I see this current property MEGA BUBBLE NO different to the passed crazy Tulip Mania bubble I have just seen the house next door to one that i sold in 2003 for 150K going for 350k and this one does NOT even have a freaking garage! Oh and the pics on RM are summer time, so it just shows even desperate sheeple NOT biting Keep puting out the BULLSH*T EA's ...it won't make a dimple on this board! Quote Link to comment Share on other sites More sharing options...
Tapori Posted January 7, 2016 Share Posted January 7, 2016 Would be interesting to do a collective count of how many people HPC'ERS collectively know of in their social /work circles that are actively thinking about buying in london currently. I know none, everyone has given up and waiting. If that's a representation of the rest it could be very interesting indeed I know a few who have bought BTL past year but had know clue about the tax relief changes. Others can't afford deposit. Many that are buying are trading up following HPI. Many more not moving but doing extensions. All however agree prices are mad. My area in Waltham Forest, is seeing many folks move from HPI bonanza areas like Hackney to our area; Sell million pound house bought in the 80's, buy straight cash and bank the rest. Any thoughts about how this will affect prices during a HPC? i.e. how much do cash buyers play a part in prices when they sell freehold HPI gained houses or are they few and far between as buyers to affect the market? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 7, 2016 Author Share Posted January 7, 2016 Any thoughts about how this will affect prices during a HPC? i.e. how much do cash buyers play a part in prices when they sell freehold HPI gained houses or are they few and far between as buyers to affect the market? Simple question.....assuming central london prices collapse and there is no one moving out of London with oodles of untaxed unearned income....can you, or your friends, or familly, afford to pay what these idiots have for a simple dwelling in your area ? There's your answer. Quote Link to comment Share on other sites More sharing options...
Barnsey Posted January 7, 2016 Share Posted January 7, 2016 Few colleagues now rushing to buy here in the SE (many aged around 30, recently proposed etc etc) aiming for 300k before interest rates go up, 2 bed terraces in High Wycombe woohoo, I've given up being the voice of HPC and sit quietly in the corner now. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 7, 2016 Author Share Posted January 7, 2016 Few colleagues now rushing to buy here in the SE (many aged around 30, recently proposed etc etc) aiming for 300k before interest rates go up, 2 bed terraces in High Wycombe woohoo, I've given up being the voice of HPC and sit quietly in the corner now. Racing in before prices potentially full. I do really despair of these people. Quote Link to comment Share on other sites More sharing options...
Barnsey Posted January 7, 2016 Share Posted January 7, 2016 Absolutely, you'd think everyone would be starting to give up by now but far from it, get the biggest mortgage possible with a 10% deposit and go for it! Quote Link to comment Share on other sites More sharing options...
Tapori Posted January 7, 2016 Share Posted January 7, 2016 3:40 mark - 40 percent crash in Prime London. The 3 generation property boom is over, apparently. "Be careful" he says to capital gain enthusiasts. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 7, 2016 Author Share Posted January 7, 2016 3:40 mark - 40 percent crash in Prime London. The 3 generation property boom is over, apparently. "Be careful" he says to capital gain enthusiasts. The 30 year banker ponzi you mean ? 40 year old bankers in 1980 are now, what 76.....they'll have done very nicely thank you very much. Well done Maggie, they fooled you ( and us ). Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 7, 2016 Author Share Posted January 7, 2016 Absolutely, you'd think everyone would be starting to give up by now but far from it, get the biggest mortgage possible with a 10% deposit and go for it! I dont know anyone that stupid. Quote Link to comment Share on other sites More sharing options...
Tapori Posted January 7, 2016 Share Posted January 7, 2016 The 30 year banker ponzi you mean ? 40 year old bankers in 1980 are now, what 76.....they'll have done very nicely thank you very much. Well done Maggie, they fooled you ( and us ). i know he makes too many wild leaps, but i believe Adam Curtis in one of his documentaries (Pandora's Box or The Mayfair Set) interviewed one of the economics geeks who advised Thatcher. He straight up told the truth; Paraphrasing this but essentially he said They put forward a policy as economics geeks for a more monetarist approach but that the Thatcher government ideologically molested their plans to suit their own political and ideological goals, even when the geeks warned them it would lead to everything we see today that is wrong with the economic structure of society, including the dereliction of society with mass unemplyment in the 80's and the poor jobs we see today. As much as I hate Thatcher, i can see people behind the scenes who goaded her on, knowing full well she couldn't see the full ramifications of the cancer she was unleashing. Things had to change, and I'm pro-union to the core, but her backers and her government made sure that they left scorched earth. Big up the banks, sell public assets, own the media narrative and don't invest meaningfully in manufacturing like Germany did and bet on stocks, pure consumerism and property prices. One nation under LED Screens, booze, greed a BTL. Bazinga. Quote Link to comment Share on other sites More sharing options...
Tapori Posted January 7, 2016 Share Posted January 7, 2016 I dont know anyone that stupid. on the contrary, I present to you the Oracle: London's housing bull market continues to gallop along at an astonishing pace which depending on which measure one looks at ranges from an annual rate of between 8% and 12%, and that the most recent surge higher has now lifted the average London house price to over an eye watering £600k! Pushing London house prices affordability ratio's upwards of X10 average London earnings, pushing London properties out of the reach of even the professional middle classes, let alone the army of working class necessary to keep the metropolis ticking over. Where many prospective home buyers are being forced to adopt extreme measures such as shared ownerships or be convinced by highly polished sales pitches that a tiny box studio flats priced at £300k+ in run down areas sold as up and coming are a very good deal! So buy now before it is snapped up by someone else, probably who has yet to even set foot in Britain which highlights London's ultimate safe haven status, not just for the worlds people but capital of tax evading billionaires and people of more ordinary means plowing billions into London's better than gold property market each year. Cos prices in London are like Yazz; the Only Way Is Up. (I want this track and Hot Chocolates "Everyone's a Winner" to be on in the background when the documentaries are made about the impending collapse.) Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 7, 2016 Author Share Posted January 7, 2016 i know he makes too many wild leaps, but i believe Adam Curtis in one of his documentaries (Pandora's Box or The Mayfair Set) interviewed one of the economics geeks who advised Thatcher. He straight up told the truth; Paraphrasing this but essentially he said They put forward a policy as economics geeks for a more monetarist approach but that the Thatcher government ideologically molested their plans to suit their own political and ideological goals, even when the geeks warned them it would lead to everything we see today that is wrong with the economic structure of society, including the dereliction of society with mass unemplyment in the 80's and the poor jobs we see today. As much as I hate Thatcher, i can see people behind the scenes who goaded her on, knowing full well she couldn't see the full ramifications of the cancer she was unleashing. Things had to change, and I'm pro-union to the core, but her backers and her government made sure that they left scorched earth. Big up the banks, sell public assets, own the media narrative and don't invest meaningfully in manufacturing like Germany did and bet on stocks, pure consumerism and property prices. One nation under LED Screens, booze, greed a BTL. Bazinga. A perfect summary. Thanks. I lived through thatcher. I remember the UK before her "big bang". Bazinga, is somehow appropriate now. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 7, 2016 Author Share Posted January 7, 2016 A perfect summary. Thanks. I lived through thatcher. I remember the UK before her "big bang". Bazinga, is somehow appropriate now. http://www.urbandictionary.com/define.php?term=Bazinga A catchy phrase to accompany your clever pranks. Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted January 8, 2016 Share Posted January 8, 2016 It's finally about to come crashing down isn't it? Will there be an hpc party? I'm giddy and can't sleep now! Quote Link to comment Share on other sites More sharing options...
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