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CABMAN UK

Is The Last Laugh On Us?

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:( Hi everyone, i haven't posted for a while but always visit the site,the last post i done was about my friends house in Waltham abbey about six months ago, he had it up for sale for 200 hundred grand and within six weeks it sold for the asking price,another friend has put his two bed ex council flat up for sale in the clerkenwell area in London for 270 grand, he had loads of intrest and has just sold for the asking price,so it seems as people are still buying property no matter what, maybe it is different this time and we are wrong about the crash. I like most people have been waiting for this to happen but the media plays a big part in this and all the news is positive with the reports they give, and also the FTSE doing so well, plus most get intrest only mortgages which can work out affordable,and i know from talking to people that they look at it like if they buy for 160 grand lets say on intrest only in 10-15 years what they earn in wages to now the mortgage always gets smaller or something like that i think you get what i mean lol,anyway from sitting back and waiting for 3 years it dont look good for us,This time it must be different from before otherwise it would be happening and its not, and last year they said there was a dip, well if so property didn't drop much did it, i do hope people can reply to this post but it dont look good.

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:( Hi everyone, i haven't posted for a while but always visit the site,the last post i done was about my friends house in Waltham abbey about six months ago, he had it up for sale for 200 hundred grand and within six weeks it sold for the asking price,another friend has put his two bed ex council flat up for sale in the clerkenwell area in London for 270 grand, he had loads of intrest and has just sold for the asking price,so it seems as people are still buying property no matter what, maybe it is different this time and we are wrong about the crash. I like most people have been waiting for this to happen but the media plays a big part in this and all the news is positive with the reports they give, and also the FTSE doing so well, plus most get intrest only mortgages which can work out affordable,and i know from talking to people that they look at it like if they buy for 160 grand lets say on intrest only in 10-15 years what they earn in wages to now the mortgage always gets smaller or something like that i think you get what i mean lol,anyway from sitting back and waiting for 3 years it dont look good for us,This time it must be different from before otherwise it would be happening and its not, and last year they said there was a dip, well if so property didn't drop much did it, i do hope people can reply to this post but it dont look good.

Are you the pink clad " lady " from Little Britain

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Are you the pink clad " lady " from Little Britain

Agreed, the two longest sentences I have forced myself to read in a long time.

So I will just say this; wait, then wait, then when you’re sure, buy.

Can nobody plan anything beyond a few years? What is wrong with everyone?

If you have run out of patience and do not have the judgement to know you are correct, can I sell you some apples? You will have to pay £10 each though and buy them right now, because they all go off tomorrow.

Do you understand?

Or am I training monkeys?

Edited by ?...!

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Agreed, the two longest sentences I have forced myself to read in a long time.

So I will just say this; wait, then wait, then when you’re sure, buy.

Can nobody plan anything beyond a few years? What is wrong with everyone?

If you have run out of patience and do not have the judgement to know you are correct, can I sell you some apples? You will have to pay £10 each though and buy them right now, because they all go off tomorrow.

Do you understand?

Or am I training monkeys?

*applauds*

Do you work for Foxtons????

You'd make a great EA in these desparate times.

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Guest Charlie The Tramp

Do you work for Foxtons????

You'd make a great EA in these desparate times.

No, he is actually a cab driver. ;)

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:( Hi everyone, i haven't posted for a while but always visit the site,the last post i done was about my friends house in Waltham abbey about six months ago, he had it up for sale for 200 hundred grand and within six weeks it sold for the asking price,another friend has put his two bed ex council flat up for sale in the clerkenwell area in London for 270 grand, he had loads of intrest and has just sold for the asking price,so it seems as people are still buying property no matter what, maybe it is different this time and we are wrong about the crash. I like most people have been waiting for this to happen but the media plays a big part in this and all the news is positive with the reports they give, and also the FTSE doing so well, plus most get intrest only mortgages which can work out affordable,and i know from talking to people that they look at it like if they buy for 160 grand lets say on intrest only in 10-15 years what they earn in wages to now the mortgage always gets smaller or something like that i think you get what i mean lol,anyway from sitting back and waiting for 3 years it dont look good for us,This time it must be different from before otherwise it would be happening and its not, and last year they said there was a dip, well if so property didn't drop much did it, i do hope people can reply to this post but it dont look good.

Just to recap, the rent on either of your examples would be less than an interest only mortgage. Why buy when your surplus money can be invested in better quality vehicles. Furthermore, we all know the UK economy is up the creek, either house prices correct or you are better off somewhere else.

BTW the FTSE is not an indicator of the strength of the UK economy, most of the profit made by companies in the FT are from foreign operations.

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Brilliant stuff. He managed to cram it ALL in there! (or very nearly...)

* friend just sold

* another friend just sold

* I'm a bear

* different this time

* stock market doing well

* interest only morgages

* property 'affordable'

* wage inflation allegedly up

* sick of waiting

* any drops so far minimal

* did i mention i am a bear

Jeezuz. About the only thing u left out is that YOU ARE A BULL and I claim my £5

:-) Apologies if u think we r 'rounding' on you, cabbie. Just joshing, and chin up, it is unfolding faster than last time! All u gotta do is wait. Reality will NOT be denied!

Edited by CrashIsUnderWay

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The OP is posting ancedotal situations, don't attack for no reason.

To you OP:

UK plc is up sh** creek - all the signs are there.

It is usually cheaper to rent a property than to buy the same property on IO mortgage - this

means you can save MORE money renting than buying - this doesn't include up keep either!

Interest rates are at long term lows - any rate rises are going to hurt people because....

debt levels are the highest they have ever been!

Anything else? :rolleyes:

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june 2004 18% raise in prices.

18 months later a steady drop to about 0% and -3% in East Anglia.

You do read the meass media, but you don't have to take their word.

http://news.bbc.co.uk/1/shared/spl/hi/in_d...ml/county34.stm 2.4% up for essex.

So a steady fall of 15.5% in a year, and that year was the sipps non-capital gains tax. It is happening and fast. On average 1% down a month year on year, what will it be in a years time do you think? Maybe not -12% but bad and if that does happens for 2 years the you have a 25% reduction in price.

As infuriating and slow as it seems your marathon wait is about to pay off, so don't give in as we are about to embark on negatives as it is for me in East Anglia.

Check out the negatives here http://news.bbc.co.uk/1/shared/spl/hi/in_d.../county61.stm?t and know that a trend that has not been with us in 10 years is here and growing, and that trend is house market inflationary depreciation coming to house price depreciation.

So don't give up 100 yards from the end of a marathon or you'll regret the decision for many years. I get disheartened at times but when every stastistic printed is wrongly headlined and I know it I know that the wait is worth it.

Read credit crunch on the main forum area and you'll feel better, I'd even make you a cuppa tea whilst you read.

So Taxi-man chin up and watch the blues fade away.

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Guest Bart of Darkness

:( Hi everyone, i haven't posted for a while but always visit the site,the last post i done was about my friends house in Waltham abbey about six months ago, he had it up for sale for 200 hundred grand and within six weeks it sold for the asking price,another friend has put his two bed ex council flat up for sale in the clerkenwell area in London for 270 grand, he had loads of intrest and has just sold for the asking price,so it seems as people are still buying property no matter what, maybe it is different this time and we are wrong about the crash. I like most people have been waiting for this to happen but the media plays a big part in this and all the news is positive with the reports they give, and also the FTSE doing so well, plus most get intrest only mortgages which can work out affordable,and i know from talking to people that they look at it like if they buy for 160 grand lets say on intrest only in 10-15 years what they earn in wages to now the mortgage always gets smaller or something like that i think you get what i mean lol,anyway from sitting back and waiting for 3 years it dont look good for us,This time it must be different from before otherwise it would be happening and its not, and last year they said there was a dip, well if so property didn't drop much did it, i do hope people can reply to this post but it dont look good.

Yeah but, no but, yeah but.

No but because what happened was was I was going round Charlie’s but then this whole fing happened right because London Landlady who’s a bitch anyway has been completely going around saying that house prices only ever go up but what happened was was this whole fing happened what I don’t even know anyfin about an' TTRTR has been going around saying that renting is dead money and stuff.

Don’t be givin' me evos or nothin', it's just what I see and stuff.

My advice?

Buy, buy, buy!

Bye bye.

Edited by Bart of Darkness

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:( Hi everyone, i haven't posted for a while but always visit the site,the last post i done was about my friends house in Waltham abbey about six months ago, he had it up for sale for 200 hundred grand and within six weeks it sold for the asking price,another friend has put his two bed ex council flat up for sale in the clerkenwell area in London for 270 grand, he had loads of intrest and has just sold for the asking price,so it seems as people are still buying property no matter what, maybe it is different this time and we are wrong about the crash. I like most people have been waiting for this to happen but the media plays a big part in this and all the news is positive with the reports they give, and also the FTSE doing so well, plus most get intrest only mortgages which can work out affordable,and i know from talking to people that they look at it like if they buy for 160 grand lets say on intrest only in 10-15 years what they earn in wages to now the mortgage always gets smaller or something like that i think you get what i mean lol,anyway from sitting back and waiting for 3 years it dont look good for us,This time it must be different from before otherwise it would be happening and its not, and last year they said there was a dip, well if so property didn't drop much did it, i do hope people can reply to this post but it dont look good.

Another bear sees the light......

Now you're almost a bull, I see the others have rounded on you & attacked. Vicious little buggers aren't they...

Edited by Time to raise the rents.

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Guest Charlie The Tramp

Another bear sees the light......

And when this realist turns then pigs will definitely fly.

BTW very interesting Topic started by my French cousin. Jean-Michel ;)

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This time it must be different from before

They always say that. In a sense a true statement because every crash is different. The intensity of the next one will reflect the intensity of the run up.

If the statement means its different because house prices only go up then we may begin to see some flying pigs.

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Another bear sees the light......

Now you're almost a bull, I see the others have rounded on you & attacked. Vicious little buggers aren't they...

you really are TOTALLY thick, aren't you?

We are not 'rounding on him'. We are ribbing him, in the same way as we would if the silly bvgger walked into the pub wearing a tutu instead of his 501's.

BTW. Time to Reduce the Rents. Or go bust.

Sorry, I meant AND go bust.

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I don't think there is such a word as egomanical - do you mean egomaniacal?

Even so - name calling does not really add anything to the discussion and makes the person doing the name calling look ridiculous.

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maybe not. but a flatulent statement deserves an equally boffulous retort.

and SO SORRY NEWBIE for missing a letter in my 2 fingered typing. Tell you what, I'll ghive you my login and YOU can go and correct all the spelling mistakes in my posts. When you've done that, maybe you will have something interesting to say.

PS newbie, there's no such word as 'boffulous' either

Edited by CrashIsUnderWay

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Guest Bart of Darkness

Now you're almost a bull, I see the others have rounded on you & attacked. Vicious little buggers aren't they...

Ahh diddums....

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Another bear sees the light......

Now you're almost a bull, I see the others have rounded on you & attacked. Vicious little buggers aren't they...

I have seen the light...

Property prices can rise...

I can't bring myself to explain why.. Its just that.....

I can't... its so bleeding obvious................

The downturn, every financial market has suffered downturns in the past.. not one hasn't..

There is one trick in a speculative market and that is to not be still speculating at the end.

There would be another trick and that would be to find a speculative market that has not failed, but as they all have this can not be a trick.

So there is just the one trick.

The only money that a property has ever made is the money that was paid by the current owner.

There is only one true value of a property and that is the price it sells for.

To realise profit you need to sell.

and it can be seen that house prices have swung from affordable to unaffordable five times since the war.

when inflation is controlled this means prices drops.

If every boom prior to 1989's has shown massive inflation following the boom and that inflation has drawn the cost of the average house down to its long term average against salaries the effects of house price inflation on the greater economy cannot be denied.

We have been shown in the last boom bust the pattern the market takes when inflation is controlled, it also showed that this protected the greater economy.

When 60 years of financial data show that the economy cannot support house prices above a certain level it beggers belief that this can be argued.

I can understand that some may not realise, but if you read this site the evidence has been put to you many times.

Knowing what has happened in the past and to be able to look at what is happening in the country at this time it is clear to me that the pattern has not changed, that it is not different this time.

buy if you like.

It is the same, and that means it is the same down to the spin.

and yes people are still buying, but not enough..

Remember there is only one trick in a speculative market

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:( Hi everyone, i haven't posted for a while but always visit the site,the last post i done was about my friends house in Waltham abbey about six months ago, he had it up for sale for 200 hundred grand and within six weeks it sold for the asking price,another friend has put his two bed ex council flat up for sale in the clerkenwell area in London for 270 grand, he had loads of intrest and has just sold for the asking price,so it seems as people are still buying property no matter what, maybe it is different this time and we are wrong about the crash. I like most people have been waiting for this to happen but the media plays a big part in this and all the news is positive with the reports they give, and also the FTSE doing so well, plus most get intrest only mortgages which can work out affordable,and i know from talking to people that they look at it like if they buy for 160 grand lets say on intrest only in 10-15 years what they earn in wages to now the mortgage always gets smaller or something like that i think you get what i mean lol,anyway from sitting back and waiting for 3 years it dont look good for us,This time it must be different from before otherwise it would be happening and its not, and last year they said there was a dip, well if so property didn't drop much did it, i do hope people can reply to this post but it dont look good.

Some houses will always, always sell at asking prices all the way up and down. I have examples of what you say too, I also have examples of valuations 30% down on last year, what happens this year is anyone's guess right now. However, Tsunamis are barely detectable when far from the shore. Land Ahoy!

Edited by Badger

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Cabman is for real.

In London - where I am sitting right now, there have been mixed signals and stuff is selling, friends are buying and the spring bounce is in the air (for now).

In Yorkshire - where I am from, there is something in the water and those stubborn b*** are not dropping prices.

BUT - take a look on rightmove, look at the Halifax and Nationwide figures. PRICES ARE NOW FALLING. I have seen this with my own eyes in Cambridge, Norwich, Ely, Peterborough.

Not just the overpriced houses that TTRTR goes on about, but instead a generalised fall as people who really want to move get bored of waiting and drop the price.

This will happen in North East London - Walthamstow is a prime target - forget the olympics, prices are coming down.

Some areas will hold up quite well. But I have seen decent price reductions (in real and nominal terms) that were inconceivable 12 -18 months ago.

PS: Cabman, - thanks for your post, it takes courage to post on an internet forum and then to have your head bitten off.

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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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