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londislagerhound

Hargreaves Landsown - The Crash Is Coming

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Probably because no one can afford to buy/move/live

The UK is sick.

NO you're wrong the only reason people aren't spending £300K on a 3 bed terrace where the average wage is £28K is because there is a housing shortage.

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NO you're wrong the only reason people aren't spending £300K on a 3 bed terrace where the average wage is £28K is because there is a housing shortage.

Also, if people were helped with their deposits and/or better still 125% mortgages were reintroduced there wouldn't be a problem, innit.

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"Henry Pryor, a buying agent: How do you persuade people to buy something today that they think will be cheaper tomorrow?"

Lovely stuff!

Edited by Barnsey

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There is barely any property on the market in my area to crash.

Same in my area and I really can't understand why...

Prices in my area are back to 2007 peaks, so nobody should be 'stuck' in negative equity.

Prices in my area haven't gone bonkers mental so the steps up the 'property ladder' should still be achievable.

Interest rates are rock bottom and lenders appear to be throwing mortgages around like sweeties.

So why stock levels in my area are down 50% in 18 months is a bit of mystery, in theory it should be the perfect time for owners to move up the "ladder" and yet instead the market is dead.

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A combination of buy to letters, and people keeping old property that they could not sell and turning into a BTL.

it's just property hoarding.

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A combination of buy to letters, and people keeping old property that they could not sell and turning into a BTL.

it's just property hoarding.

If prices were collapsing...they might stop hoarding.

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scramble for safety

This is no safety.

The ice-berg was hit last year and the good ship F**kyMcF**kedface has been taking on water ever since. They pumped as much water out as they could allowing them time to get organised.

The rush to the lifeboats started in an orderly fashion with the first class passengers going first....the peasants are locked in the 3rd class decks with little chance of survival

T'is always the way.

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He says, however, that despite the looming referendum, there are signs underlying demand is strengthening as buyers drop asking prices to reflect higher transaction costs.

Re-read this a few times, still makes no sense to me. Demand is strengthening so prices are dropping? hmmm

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I don't think you are right here, some BTL's are thick as f***, maybe even most of them. But a good few of them are quite savvy and logged onto to their property HPI porn sites most nights. You have to imagine the BTL's are birds hanging around roads eating road kill or just crossing, the covidae(crows magpies etc) are very intelligent and as they all dash for safety as a car approaches, the thick as f**k pheasants are wondering what is going on until the last split second where they then copy the crows and just might luckily scramble for safety

But if they log in to right move they will just see crazy asking price.

Most BTL people are as stupid as, the bright ones will of started to ofload already.

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All I see now is the iraqi minister of information standing on a pedestal and talking of glorious victories while american tanks roll by in the background

The Americans and our lot didn't win despite the propaganda we were served.

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If prices were collapsing...they might stop hoarding.

But even if prices were co;lapsing they'd just talk about waiting until prices recover, which in their mind would mean prices doubling some time next year.

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But even if prices were co;lapsing they'd just talk about waiting until prices recover, which in their mind would mean prices doubling some time next year.

A lot h ave been waiting 10 years.

The london lunacy accepted.

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The Americans and our lot didn't win despite the propaganda we were served.

nobody ever wins in a war. But remember that scene because these stupid cnts will be in denial till the bailiffs are taking there teles and the media will talk it up while most of the population have resorted to eating pets like Venezuela right now.

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All I see now is the iraqi minister of information standing on a pedestal and talking of glorious victories while american tanks roll by in the background

I remember that --- it was SURREAL -- it was like a really, really dry mockumentary / comedy film - except it was REAL!!! Rather like the "pwoperty market" - which is ALSO surreal - and FUNNY if it wasn't so bloody tragic for this poor nation of ours..... :wacko::rolleyes:

See it here!!!

Edited by eric pebble

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Hate to say it but a "crash" would only make everyone poorer. Unless you hedge your cash in multiple currencies and assets, most people would still not be able to afford a house. If you need to borrow from a bank and interest rates go up and prices come down you'll pay the same albeit its not a linear relationship with debt convexity giving a bit of discount, but then the price of money will compensate for this when you borrow. The debt interest is the bedrock of the capitalist system. The value of money is determined by its demand, supply and the number of people that have confidence they can use it in exchange for effort/goods. Its value is relative it changes just like the value of gold, or the value of an apple or oil. Once you see this, its fairly obvious that a crash would lead to most people not owning - in a pyramid scheme that's what needs to happen.

The only time more people can own is when debt bubbles allow the rich to get richer from an asset they can sell multiple times to the poor e.g bankers charging for money, IT suppliers building one computer chip and selling it repeatedly, politicians charging for access. That's what happened from 1999-2008. The standard of living for the rich explodes exponentially compared to the average, as its not tied to any asset except the mathematical fungibility of money (loans go into a bank, the bank lends it out, loans go back in and they again lend it out...repeat adfinitiem). They use the debt interest to buy more and more productive assets like land, factories, companies, housing and build their money into wealth. The poor service their debt until they die. Even if they don't pay it all back at 2-5% interest the rich got back their money and then some due to amortization above inflation returns. It only collapses when people don't believe in it anymore - not likely to happen soon thanks to the idiocracy.

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People lose paper wealth, house prices fall, and the cost of borrowing rises as well. Not a disaster in those terms.

I would rather owe £100k at 6% interest than £200k at 3% interest.

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Hate to say it but a "crash" would only make everyone poorer. Unless you hedge your cash in multiple currencies and assets, most people would still not be able to afford a house.

Hedging done. If others haven't, after everything we've seen and learnt and put everything in the mortgage/sterling...they made their bed.

And if we don't crash, we're enslaved. If we do, we'll hopefully come out the other side in a world not ruled by debt pushing. Very, very quickly people who knowhow to live sustainably will be just fine.

Can we crash now then?

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Hate to say it but a "crash" would only make everyone poorer. Unless you hedge your cash in multiple currencies and assets, most people would still not be able to afford a house. If you need to borrow from a bank and interest rates go up and prices come down you'll pay the same albeit its not a linear relationship with debt convexity giving a bit of discount, but then the price of money will compensate for this when you borrow. The debt interest is the bedrock of the capitalist system. The value of money is determined by its demand, supply and the number of people that have confidence they can use it in exchange for effort/goods. Its value is relative it changes just like the value of gold, or the value of an apple or oil. Once you see this, its fairly obvious that a crash would lead to most people not owning - in a pyramid scheme that's what needs to happen.

The only time more people can own is when debt bubbles allow the rich to get richer from an asset they can sell multiple times to the poor e.g bankers charging for money, IT suppliers building one computer chip and selling it repeatedly, politicians charging for access. That's what happened from 1999-2008. The standard of living for the rich explodes exponentially compared to the average, as its not tied to any asset except the mathematical fungibility of money (loans go into a bank, the bank lends it out, loans go back in and they again lend it out...repeat adfinitiem). They use the debt interest to buy more and more productive assets like land, factories, companies, housing and build their money into wealth. The poor service their debt until they die. Even if they don't pay it all back at 2-5% interest the rich got back their money and then some due to amortization above inflation returns. It only collapses when people don't believe in it anymore - not likely to happen soon thanks to the idiocracy.

Thanks Gidiot.

Lets keep the status quo of a rigged market so the young can;t afford to buy, that'll clearly make them richer.

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People lose paper wealth, house prices fall, and the cost of borrowing rises as well. Not a disaster in those terms.

I would rather owe £100k at 6% interest than £200k at 3% interest.

I would rather pay cash and owe nothing.

The bankers want you to "owe",

F*** the bankers, they dont own us. The have no right to a % of our lives, in the same way that the politicians and the elite have no right to steal a % of our lives for "their vision" of how we should live.

Edited by TheCountOfNowhere

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