Jump to content
House Price Crash Forum
Si1

Mexican standoff

Recommended Posts

16 minutes ago, Si1 said:

I'm on tenterhooks at the moment with this crazy market. How do you all feel?

Least of our worries to be honest.

May's just sold us all out in favour of the bankers and the Euro spivs.

Much trouble to come.

F**k owning a house in the UK.

It's not a stand off, no one's buying cause they cant afford to :lol: 

It's like saying there's a stand off between Ferrari and all the 19 year olds in the UK.

 

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites
16 minutes ago, Si1 said:

I'm on tenterhooks at the moment with this crazy market. How do you all feel?

Managed and farmed.

Share this post


Link to post
Share on other sites
4 minutes ago, TheCountOfNowhere said:

Least of our worries to be honest.

May's just sold us all out in favour of the bankers and the Euro spivs.

Much trouble to come.

F**k owning a house in the UK.

It's not a stand off, no one's buying cause they cant afford to :lol: 

 

Even if they all could afford to "buy a property", why would anyone pay ridiculously over the odds for one anyway.

It's like the car dealer asking £10k for that 20 year old Ford Fiesta.

 

Share this post


Link to post
Share on other sites
2 minutes ago, Social Justice League said:

Even if they all could afford to "buy a property", why would anyone pay ridiculously over the odds for one anyway.

It's like the car dealer asking £10k for that 20 year old Ford Fiesta.

 

This nails it for me.  I can afford to buy something, but I refuse to pay everything I have now and everything I will have in the future for a tiny, pointless shoe box that simply isn't worth it.  The problem is that the alternative is paying astronomical monthly rent to live in same shoe box and never own it,   I hate it, hate it, hate it.

Share this post


Link to post
Share on other sites
4 minutes ago, stop_the_craziness said:

This nails it for me.  I can afford to buy something, but I refuse to pay everything I have now and everything I will have in the future for a tiny, pointless shoe box that simply isn't worth it.  The problem is that the alternative is paying astronomical monthly rent to live in same shoe box and never own it,   I hate it, hate it, hate it.

Pay rent or pay interest to bankers

There's not much in it, esp in the first 10 years.

Share this post


Link to post
Share on other sites
3 minutes ago, TheCountOfNowhere said:

Pay rent or pay interest to bankers

There's not much in it, esp in the first 10 years.

Most people think they are pretty good at getting deals, yet with property most people take the most appalling deal possible.

Ex Council flats selling for £500k and nonsense like that.

Share this post


Link to post
Share on other sites
29 minutes ago, TheCountOfNowhere said:

Least of our worries to be honest.

May's just sold us all out in favour of the bankers and the Euro spivs.

Much trouble to come.

F**k owning a house in the UK.

It's not a stand off, no one's buying cause they cant afford to :lol: 

It's like saying there's a stand off between Ferrari and all the 19 year olds in the UK.

 

That nails it for me.

Share this post


Link to post
Share on other sites

In financial markets, they say the market tanks when the last bear has died.

This is the hardest bit, the market is about to tank, just do your best to keep your head cool. Gravity will apply, the next recession is around the corner, the forced seller will appear then.

Share this post


Link to post
Share on other sites

I feel like the stratospheric rise in diagnosis of "mental health" problems is directly linked to our DEBTslave monetary system.

 

you won't read that on the #vileBBC any time soon. 

 

scumbags.

 

Share this post


Link to post
Share on other sites
8 minutes ago, Freki said:

In financial markets, they say the market tanks when the last bear has died.

This is the hardest bit, the market is about to tank, just do your best to keep your head cool. Gravity will apply, the next recession is around the corner, the forced seller will appear then.

My belief is that the blockheads have done us all a huge favour with Bitcoin. The Chinese economy and satellites have been teetering all year. A decent-sized deflationary kick ought to knock the lot over.

Share this post


Link to post
Share on other sites

The establishment prolonging and propping up the oncoming disaster has been tiresome. Keep trying to tell my other half that it's not a good time to buy and there will be an inevitable crash soon enough... years pass and nothing but rising HPI. We are going to need a house at some point, and this whole indebted economy is just eating away at me. Feel like I am the mug for being financially literate in this society.

 

1 hour ago, Freki said:

In financial markets, they say the market tanks when the last bear has died.

This is the hardest bit, the market is about to tank, just do your best to keep your head cool. Gravity will apply, the next recession is around the corner, the forced seller will appear then.

Unfortunately, a lot of us have heard that it's "around the corner" for a long time now.

Share this post


Link to post
Share on other sites
1 hour ago, thewig said:

I feel like the stratospheric rise in diagnosis of "mental health" problems is directly linked to our DEBTslave monetary system.

 

you won't read that on the #vileBBC any time soon. 

 

scumbags.

 

it`s ok the bankers are planning on nipping any debt mental health problems in the bud by reeducation of all new plebs. feel safe in the knowledge all your offspring will be debt ready at 18 for a 40 year mortgage.

https://www.thetimes.co.uk/article/bank-of-england-offers-gcse-pupils-lessons-on-daily-finances-and-debt-c7kdp0k8n

Share this post


Link to post
Share on other sites
3 hours ago, Si1 said:

I'm on tenterhooks at the moment with this crazy market. How do you all feel?

I'm a big fan of @durhamborn and his excellent Deflation thread, so at the moment I'm much more focused on doing what I can to minimise and spread risk... and hopefully protect my capital.

I have taken my eyes of the UK house market as whats the point - asking prices (south east) are utterly insane and I have no idea why anyone would be looking, they're all deluded sellers whacking on an extra 20% on something that was already a good 30% overvalued.

I'll wait till there is a collapse in house prices - if this carries on for another 5 years like it is, then I'll just use that time to save more money and enjoy life without any serious money concerns. Unlike my peers who have all gone balls deep in property!

Share this post


Link to post
Share on other sites
1 minute ago, thewig said:

:lol::lol: touche Starla

Sorry, there's always one smart-**** :) 

But, it is a serious point, and the article is quoting stats for Stress, Anxiety, Sleep Problems, Depression and Panic Attacks.  The point is if we're now at the stage of the bubble cycle where even the BBC are admitting the damage housing problems cause, then we're past the "Denial" stage for sure. 

Share this post


Link to post
Share on other sites
48 minutes ago, goldbug9999 said:

We need a proper recession, mass redundancies, mass evictions and repossessions, blood on the streets. And yes I do think its worth all that to give me a cheaper house.

The UK's already squandered ten years and a trillion pounds trying to fix what can't be fixed. The longer they hold up the market, the more catastrophic the inevitable correction.

Share this post


Link to post
Share on other sites

We're definitely in a mexican stand off, prices aren't going north, at least in the burbs SW of London, they are stagnating or being reduced 5-10%. Went to pick up the car from a garage in Chessington (zone 6), an area I used to rent in a few years way back, where a 3 bed semi now goes for £450k-£550k, but the area is still it's same old working class self, with plenty of people not working too. I wouldn't say it's rough, but there's a chance your bin will be set alight or your car will be keyed. Yoof innit.

For £55,000 OVER half a million quid, you can own this modest 3 bed:

http://www.rightmove.co.uk/property-for-sale/property-51670413.html

Something has to give, THIS IS F*******************************************************ING RIDICULOUS :ph34r:

Edited by Barnsey

Share this post


Link to post
Share on other sites
6 hours ago, Social Justice League said:

Even if they all could afford to "buy a property", why would anyone pay ridiculously over the odds for one anyway.

It's like the car dealer asking £10k for that 20 year old Ford Fiesta.

A friend of mine has just paid £20k for a 1979 Ford Capri 3 litre S ?

 

Share this post


Link to post
Share on other sites
3 hours ago, goldbug9999 said:

We need a proper recession, mass redundancies, mass evictions and repossessions, blood on the streets. And yes I do think its worth all that to give me a cheaper house.

Even then, are the bankers going to repo when they can just magic up money, increase their own wealth and force people to keep paying ?

 

When bankers can subvert a democratic vote in full sight of the people then we all have a problem.

Buy a house, dont buy a house, either way these ****s are going to make you pay till the day you die...and after too.

All the trolls come on here trying to justify their position, how much they've made, laughing at us...and still they dont see the bigger picture....the bankers are in charge and life is going to be very difficult for 90% of the country

WIll it suit the bankers to repo houses, crash the prices, Maybe, bu then they'll just enslave another generation or two.

2007 was the start of something quite sinister if you ask me.

Right now I wis I'd never joined this place and had bought a house.

Now people are queing up ( apparantly ) to pay £500K for an ex-council flat...the bankers, MSM and their puppet government are capable of anything !!!

 

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites
4 hours ago, Starla said:

Sorry, there's always one smart-**** :) 

But, it is a serious point, and the article is quoting stats for Stress, Anxiety, Sleep Problems, Depression and Panic Attacks.  The point is if we're now at the stage of the bubble cycle where even the BBC are admitting the damage housing problems cause, then we're past the "Denial" stage for sure. 

I think it’s right that most arguments are due to money.. but I would say the increase in cancer and mental illness is because of pollution and that poison they call food,,, full of crap.. stuffed with toxins, E numbers, antibiotics and pesticides.. it’s bound to effect the human body.. 

overpopulation stresses me.. 2 hours in a car to travel a 20 min journey when I was 18.. makes me want to kill someone.. 

Edited by macca13

Share this post


Link to post
Share on other sites

Im finding that everyone still wants the peak 2015 prices, and there is almost zero pressure for people to drop their price. There has been a very slight fall of maybe 5% since the peak, but again not much shifting, as i said people 'want' the peak, but are not getting it. 

The sellers have a lot less pressure to sell than the buyers have to buy.

The only two upside for me is the following:

- House prices are effectively static, maybe rise a little or fall a little now. I can easily out-save any price rises, so although by no-means is this a perfect situation i'm still getting better off with each month of saving. With a yearly price rise of say 2% on a £200k house i only need to save more than 4k a year to 'win' against that, which thankfully can be done with me and my partner in about 6 weeks of earnings.

- With the above point in mind, it would not take that much selling pressure to change 5% into 10 or 20% price reductions come the BTL flog-a-thon coming the end of 2018, and if you can wait a year and a half the mass repos of large portfolios for those BTL would could not pay will hit the market also mid 2019. 

So in conclusion, im just going to keep saving. We may never get the 50% drops we want and deserve, but you can make progress. 
Im hoping to be mostly mortgage free, or at least 3/4 mortgage free in my early 30's on a 'forever home' (means i could in theory live there with a family forever), that doesn't seem that unreasonable.

It's only 11 years of savings, a diversified portfolio, living with my parents, and then partners parents, a splash of bitcoin, it is dooable i guess. 

Should probably get the best buying opportunity for a long time between winter 2018 and winter 2019. 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 407 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.