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A Glimpse Of What Is Coming To The U K Soon

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http://abcnews.go.com/Business/story?id=17...TC-RSSFeeds0312

By CHARLIE HERMAN

March 21, 2006 — Heidi never imagined that she could lose her home outside Dallas. But rising interest rates and skyrocketing monthly mortgage payments have left her staring at foreclosure. She's just one of many Americans who might be forced to move as the housing market cools.
"I loved my home, and I felt very comfortable here, and my dogs loved it here, and my husband loved it here and this was my home and now we've lost it," she said, trying not to get emotional as she stood in her former kitchen.

A familiar story from the last crash.

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A familiar story from the last crash.

Similar but in another country with interest rates that have gone from 1% to 4.5% - not suppressing the stupid did not see it coming – they must have been American

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http://abcnews.go.com/Business/story?id=17...TC-RSSFeeds0312

By CHARLIE HERMAN

March 21, 2006 — Heidi never imagined that she could lose her home outside Dallas. But rising interest rates and skyrocketing monthly mortgage payments have left her staring at foreclosure. She's just one of many Americans who might be forced to move as the housing market cools.
"I loved my home, and I felt very comfortable here, and my dogs loved it here, and my husband loved it here and this was my home and now we've lost it," she said, trying not to get emotional as she stood in her former kitchen.

A familiar story from the last crash.

Well I must hand it to you, because you surely are very dedicated to the HPC cause, and must have loads spare time on your hands to keep finding such obscure articles.....(your local I guess?) Bath newspaper for example? and ANY US doom and gloom news you can drag up with your OWN “opinion” stamped all over it......

Your apocalyptic view of the way the UK is heading? Do you really think things will get as bad as you keep stating? In the article you mention "Heidi" states she will be moving into rented accommodation.....So with no LL's around because they have all gone bust where are all of those who loose their homes and are thrown out on the streets going to live?? Is it just people like yourself on this forum that will be immune to job losses etc? But that is only a few hundred people. There are approx *22.5 million households in UK....how many people do you seriously feel are going to crash and burn?

http://www.statistics.gov.uk/census2001/pr...ies/housing.asp *sorry can only get 2001 figures.

How many people do you personally know who lost their homes last time round? Many have huge amounts of equity others are on fixed rate mortgages? Yes things look hairy and anything can happen……..but please………….can we not keep things in persepective?? For every doom and gloom article you produce I could - if I had the time - find a counter article…….it is just NOT what 99.9% of the Uk population spend their lives doing…….life is for living surely??

Edited by beenhearingthisforyears

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Similar but in another country with interest rates that have gone from 1% to 4.5% - not suppressing the stupid did not see it coming – they must have been American

The mortgage rate was never 1%. It bottomed around 5.5% for a 30 year loan--now its about 6.75%. That is why its so scary. People took out such huge loans a small uptick in rates wreaks havoc. There are also the fools who took out IO loans at a low intro rate that got bumped to reality after 2 years.

I suspect UK homeowners are in the same boat where a small bump will push them over the edge.

Well I must hand it to you, because you surely are very dedicated to the HPC cause, and must have loads spare time on your hands to keep finding such obscure articles.....(your local I guess?) Bath newspaper for example? and ANY US doom and gloom news you can drag up with your OWN “opinion” stamped all over it......

Your apocalyptic view of the way the UK is heading? Do you really think things will get as bad as you keep stating? In the article you mention "Heidi" states she will be moving into rented accommodation.....So with no LL's around because they have all gone bust where are all of those who loose their homes and are thrown out on the streets going to live?? Is it just people like yourself on this forum that will be immune to job losses etc? But that is only a few hundred people. There are approx *22.5 million households in UK....how many people do you seriously feel are going to crash and burn?

http://www.statistics.gov.uk/census2001/pr...ies/housing.asp *sorry can only get 2001 figures.

How many people do you personally know who lost their homes last time round? Many have huge amounts of equity others are on fixed rate mortgages? Yes things look hairy and anything can happen……..but please………….can we not keep things in persepective?? For every doom and gloom article you produce I could - if I had the time - find a counter article…….it is just NOT what 99.9% of the Uk population spend their lives doing…….life is for living surely??

I am not so sure its doom and gloom because for many a HPC is a ray of hope. It all depends on your perspective. I was pretty depressed a couple of years ago when prices were going up up and away and I had sold my house due to a job move. Today, I find a smile in every article that points to lower house prices.

Apocaplypse? Yes, I think so due to the sheer size of the debt mountain that has to be repaid. We have a slowing world economy after years of boom and the economic cycle shows no mercy to those who have overindulged in spending and did not set aside for the lean years.

Because the US and UK are in similar debt positions and have done the same dumb thing with HPI and MEW the results can be expected to be the same. Last crash was pretty bad and many lost their homes. THis time its different because the debt level is that much worse and house prices are, in many cases, many more times the level of income than they were at the time of the Great Crash of 1989-96.

No one should laugh at others misfortune but it is hard not to glow with satisfaction knowing you have not bought into the madness and do not have bad sleep at night knowing IR are going up and jobs are getting scarce with redundancies growing as more jobs go overseas.

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For every doom and gloom article you produce I could - if I had the time - find a counter article…….i

Yeah mate. And nowadays it will invariably be dismissed as VI bollix. And correctly so.

The proof will be in the pudding.

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Yeah mate. And nowadays it will invariably be dismissed as VI bollix. And correctly so.

The proof will be in the pudding.

I try to look at the whole picture and read reports today that highlight why City of London is the chosen financial centre. (In London evening standard 21.03.06) will try to find link. Or news that BT and other providers may start price war. http://www.thisismoney.co.uk/news/article...._page_id=2&ct=5

If you choose to dismiss it as "VI bollix" that is your choice.........

here is link if anyone is interested re City:

http://www.thisismoney.co.uk/news/article....64&in_page_id=2

Edited by beenhearingthisforyears

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PM me as i dont want to get banned and i'll tell you what i think of you.........and your fascinating posts.....zzzzzzzzz

Haha fighting talk :P You get sadder, nice one hahahaha :lol: Please the floor is yours, let me know what you think of my fascinating posts, given that I post on average once a day :D

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Haha fighting talk :P You get sadder, nice one hahahaha :lol: Please the floor is yours, let me know what you think of my fascinating posts, given that I post on average once a day :D

why waste your one a day post on me then?......i am one of a very small % who just will not fall for all RB churns out. Yesterday he was quoting a reader's letter from a Bath newspaper as if it had been written by the editorial department. it is misleading and pure VI spin and IMHO it damages the credibilty of this site. My proof? i used to work on National Sunday Broadsheet and often chat to journalist friends and they think SOME of this forum content is a joke. I believe HPC would get more coverage if there was a bit more balance. just IMO.

Edited by beenhearingthisforyears

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why waste your one a day post on me then?......i am one of a very small % who just will not fall for all RB churns out. Yesterday he was quoting a reader's letter from a Bath newspapers as if it had been written by the editorial department. it is misleading and pure VI spin and IMHO it damages the credibilty of this site. My proof? i used to work on National Sunday Broadsheet and often chat to journalist friends and they think SOME of this forum content is a joke. I believe HPC would get more coverage if there was a bit more balance. just IMO.

This site does tend to gravitate to the more extreme view granted and those that dominate the space can be at times a tad obsessive, I tend to constantly keep it in persective. For all the priced out FTBs there are those I come into contact with, virtually or otherwise, who shrug their shoulders, sign the docs, and move into the 150K 2 bed flat in a heartbeat. Anyhow Its 9 0`clock, this programme coming on BBC1 beckons although it`ll be a disappointment probably. Always PM me if you like.

Paul

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PM me as i dont want to get banned and i'll tell you what i think of you.........and your fascinating posts.....zzzzzzzzz

Try adding something constructive in response to the posts if you have an opposing opinion instead

of the constant whining. Thats ZZZZZ.

A balanced argument is healthy.

Can you not understand that its RealistBears opinion? And he is entitled to it. Of course you're entitled to yours as well unfortunately.

Its ALL DOOM AND GLOOM on here you know. And thats the way we like it, houses are overpriced.

why waste your one a day post on me then?......i am one of a very small % who just will not fall for all RB churns out. Yesterday he was quoting a reader's letter from a Bath newspaper as if it had been written by the editorial department. it is misleading and pure VI spin and IMHO it damages the credibilty of this site. My proof? i used to work on National Sunday Broadsheet and often chat to journalist friends and they think SOME of this forum content is a joke. I believe HPC would get more coverage if there was a bit more balance. just IMO.

You used to work on a National Sunday broadsheet, and you cant even get your punctuation right? :P

There are thousands of forums out there, this is just another one.

I love it. :D:D:D

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Try adding something constructive in response to the posts if you have an opposing opinion instead

of the constant whining. Thats ZZZZZ.

A balanced argument is healthy.

Can you not understand that its RealistBears opinion? And he is entitled to it. Of course you're entitled to yours as well unfortunately.

Its ALL DOOM AND GLOOM on here you know. And thats the way we like it, houses are overpriced.

You used to work on a National Sunday broadsheet, and you cant even get your punctuation right? :P

There are thousands of forums out there, this is just another one.

I love it. :D:D:D

Mate i do not care what you think of me or my posts. i have no interest in explaining myself to you And do NOT tell me how or what i can post on this forum. If you cannot see the blatant spin that many others have called RB into question about- regarding some of his posts (usually the title he starts them with)- then that is totally your choice, it obviously fits your agenda.... And i am sorry that my sentence construction and use of grammar is not up to your very high standard…..if only I could post such thought provoking, analytic posts as you…….and BTW cant has an ' .....people in glass houses hey....

Edited by beenhearingthisforyears

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Although I can seen a major HPC coming ..... I gotta agree with ya !!

Seems some people are so obsessive about this that they pull needles out of haystacks and proclaim an imminent doomsday ......

I personally feel the reality is neither your own optimistic slant or the ever growing armageddon scenarios ...... its just another phase of the economic cycle - been going up for so long now that its bound to go down soon ...... the UK and mankind as we know it will still survive !! As they have done over many other booms & busts :)

Just that some people will be better off than others ...... when has this situation ever been differant ??

However I don't understand why Bulls actually get so upset when hearing bear-talk ...... surely you guys would welcome a crash too ...... more houses for you to snap up at a bargain and watch for them to triple in price after a decade or two :)

Edited by Perfectionist

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Similar but in another country with interest rates that have gone from 1% to 4.5% - not suppressing the stupid did not see it coming – they must have been American

Its not the same in the US as here. Your rate of interest is generally set at the start of the mortgage and is fixed for mortgage period, say 25 yrs. Changing interest rates do impact, but not as severely as in the UK.

DBubb, am I correct in saying this?.

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forum content is a joke. I believe HPC would get more coverage if there was a bit more balance. just IMO.

I agree with you- most of my posts (nowadays) try to balance the one sided views on this site

Although I actual believe there could be a crash

then again I have seen balance on this site more than once in this example

On one side we had “the dollar is tanking against the pound -will this start the HPC”

And on the other side “the pound is tanking against the dollar -will this start the HPC”

Its not the same in the US as here. Your rate of interest is generally set at the start of the mortgage and is fixed for mortgage period, say 25 yrs. Changing interest rates do impact, but not as severely as in the UK.

I though that most new mortgages were the same as us – that was the old way

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Although I can seen a major HPC coming ..... I gotta agree with ya !!

Seems some people are so obsessive about this that they pull needles out of haystacks and proclaim an imminent doomsday ......

I personally feel the reality is neither your own optimistic slant or the ever growing armageddon scenarios ...... its just another phase of the economic cycle - been going up for so long now that its bound to go down soon ...... the UK and mankind as we know it will still survive !! As they have done over many other booms & busts :)

Just that some people will be better off than others ...... when has this situation ever been differant ??

However I don't understand why Bulls actually get so upset when hearing bear-talk ...... surely you guys would welcome a crash too ...... more houses for you to snap up at a bargain and watch for them to triple in price after a decade or two :)

It is just nice to see that others do recognize what i am drawing attention to, even though they may not agree with my point of view. I live in London so i DO have a slightly biased view. The reason i spend so much time on these boards is to get a broader picture. I am interested in what others are experiencing in other parts of UK. The City is doing very well as i mentioned yesterday in this thread but there are too many shoebox new builds and they are very overpriced . So together with scary personal debt figures and lack of FTB's even i can see there will be problems ahead. I just don't see the end of the World as RB see its. That is his right, but i WILL shout out when he blatantly twists facts and passes off a reader's letter as an editorial written article from his local paper. He is preaching to the converted here, so I don't see the need for it...

Edited by beenhearingthisforyears

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  • 335 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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