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apom

Quick Point...

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Can I just say that the most irritating part of this whole debarcle are the people..

Who are only increasing their debt.. and usually massivly... and will sit there 100% convinced that they are better of.

Hello there you are a homeowner?

Yes :)

So you have paid of your mortgage..?

No, not yet :)

But at least it's been getting smaller ;)

Whats been getting smaller?

Your mortage... you are closer now to having paid it of..

No.... are you insane.. houses make money, but the only way you can get hold of this money is to re-mortgage to free the money..

so you are further away from owning your house... now.. you are in more debt...?

Yes...

But you are richer now?

Yes....

Is that your BMW X5 outside?

Yes..

Wan**r

Pardon?

Nevermind

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Guest grumpy-old-man

Can I just say that the most irritating part of this whole debarcle are the people..

Who are only increasing their debt.. and usually massivly... and will sit there 100% convinced that they are better of.

Hello there you are a homeowner?

Yes :)

So you have paid of your mortgage..?

No, not yet :)

But at least it's been getting smaller ;)

Whats been getting smaller?

Your mortage... you are closer now to having paid it of..

No.... are you insane.. houses make money, but the only way you can get hold of this money is to re-mortgage to free the money..

so you are further away from owning your house... now.. you are in more debt...?

Yes...

But you are richer now?

Yes....

Is that your BMW X5 outside?

Yes..

Wan**r

Pardon?

Nevermind

spot-on apom,

I am surrounded by these types, at work, getting my hair cut, shopping, neighbours....fooking idiots the lot of them :(

getting my hair cut yesterday, she says

"well I've made 40k in the last 4 years since I bought my house"

I said" so are you selling to leave the country then?"

she says, looking very surprised "no, why"

I says "well just how do you get access to the money you have made ? if you want a bigger house & move it costs you the same difference to trade-up"

she has funny expression on her face, then realises....well sort of.....then says,

"ah well, at least I own a house eh"

:blink::blink:

our conversation stemmed from the fact that I am renting at the moment & she said I should buy straight away "cos there going up all the time" :ph34r:

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spot-on apom,

I am surrounded by these types, at work, getting my hair cut, shopping, neighbours....fooking idiots the lot of them :(

getting my hair cut yesterday, she says

"well I've made 40k in the last 4 years since I bought my house"

I said" so are you selling to leave the country then?"

she says, looking very surprised "no, why"

I says "well just how do you get access to the money you have made ? if you want a bigger house & move it costs you the same difference to trade-up"

she has funny expression on her face, then realises....well sort of.....then says,

"ah well, at least I own a house eh"

:blink::blink:

our conversation stemmed from the fact that I am renting at the moment & she said I should buy straight away "cos there going up all the time" :ph34r:

yet it's dropping accross significant areas of the country.. they blank that out..

But the following point.

"you own your house when you make the last mortgage payment. If I think you owe more then your house is woth then I also consider myself closer to owning a house then you are.

You see, I think house prices will drop and I am backed up in this by the IMF and many other experienced experts.. and history, for every bubble bursts... So, you do not own a house, my parents do and they also own a rental property. they have paid for both. So do not come to me with levels of debt that makes my balls shrink when you tell me.. do not come to me like that and expect me to see you as wealthy, for all I see is a fool, a fool and their borrowed money..... Prices are droipping now in as many areas as they are rising,

http://www.dailykos.com/story/2005/2/24/12517/0545

interesting?

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Guest grumpy-old-man

yet it's dropping accross significant areas of the country.. they blank that out..

But the following point.

"you own your house when you make the last mortgage payment. If I think you owe more then your house is woth then I also consider myself closer to owning a house then you are.

You see, I think house prices will drop and I am backed up in this by the IMF and many other experienced experts.. and history, for every bubble bursts... So, you do not own a house, my parents do and they also own a rental property. they have paid for both. So do not come to me with levels of debt that makes my balls shrink when you tell me.. do not come to me like that and expect me to see you as wealthy, for all I see is a fool, a fool and their borrowed money..... Prices are droipping now in as many areas as they are rising,

http://www.dailykos.com/story/2005/2/24/12517/0545

interesting?

I havn't come across that site before....makes interesting reading. Bearing in mind those statements/forecasts by Jerome (not heard of him before) were in Feb 2005, we must be very close to a total collapse early next year then ?

If all those quotes are from him, then he obviously saw what was coming together with some very common sense statements, he makse a lot of sense.

Your statement above is spot on. False values & hopes lie in bricks & mortar bought with money that's not theirs. Obviously we all (or most) need a mortgage at some stage in our lives, but you only really make money if you buy low & sell high....or move to a country with cheaper property than the UK & don't return.

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Pleasant reminder from the Land Registry :)

http://news.bbc.co.uk/1/shared/spl/hi/in_d...tml/region1.stm

The information below is based on figures provided by the Land Registry of England and Wales.

Figures for England and Wales are for the period January to March 2006.

Northumberland £149,225 -8.8%

Cumbria £143,851 -1.6%

Tyne And Wear £132,526 -0.3%

Stockton-On-Tees £128,643 -5.0%

Darlington £125,556 -5.6%

Durham £114,329 -4.3%

Redcar And Cleveland £109,289 -11.2%

Middlesbrough £108,982 4.7%

Hartlepool £98,770 -5.2%

East Riding Of Yorkshire £154,431 -4.5%

West Yorkshire £138,242 -1.1%

South Yorkshire £126,326 -1.4%

North Lincolnshire £122,869 -2.7%

North East Lincolnshire £102,179 -1.9%

Rutland £228,672 -7.7%

Leicestershire £170,145 -3.5%

Northamptonshire £158,537 -3.5%

Lincolnshire £147,659 -1.9%

Derbyshire £147,537 -3.5%

Nottinghamshire £146,871 -2.0%

City Of Derby £137,082 -0.3%

Leicester £134,130 0.3%

City Of Nottingham £119,797 -5.2%

Worcestershire £184,936 -3.3%

Warwickshire £184,860 -3.4%

Shropshire £184,664 -3.1%

Staffordshire £161,232 -0.1%

West Midlands £146,903 0.3%

Wrekin £140,819 1.2%

Stoke-On-Trent £89,910 -5.6%

Cheshire £185,036 -1.6%

Warrington £156,929 -4.5%

Greater Manchester £134,935 -2.1%

Merseyside £132,854 0.3%

Lancashire £128,806 -1.9%

Halton £127,289 -5.3%

Blackpool £119,112 2.8%

Blackburn With Darwen £98,762 -2.1%

Moray 101,031 -6.1%

Clackmannanshire 100,282 -6.8%

North Ayrshire 98,127 -1.9%

North Lanarkshire 96,363 1.7%

East Ayrshire 92,883 -10.3%

Orkney Islands 88,463 -10.3%

West Dunbartonshire 88,299 -7.4%

Shetland Islands 83,663 4.4%

Eilean Siar 75,640 -8.2%

Edinburgh, City Of 176,526 1.1%

East Renfrewshire 168,132 -8.8%

East Dunbartonshire 160,331 -8.6%

East Lothian 152,826 -7.5%

Stirling 144,367 -4.0%

Midlothian 134,238 -0.5%

Scottish Borders 130,622 -7.9%

Aberdeenshire 127,195 -3.4%

Highland 125,711 -3.4%

Glasgow City 124,370 -0.6%

Argyll And Bute 119,923 -5.9%

Isle Of Anglesey £145,033 -12.2%

Newport £144,790 -5.0%

Flintshire £142,754 -4.8%

Denbighshire £140,981 -1.9%

Swansea £139,153 -1.1%

Carmarthenshire £137,252 0.1%

Bridgend £133,572 -1.7%

Torfaen £120,546 -0.4%

Caerphilly £115,784 -1.5%

Neath Port Talbot £102,936 -2.6%

Rhondda Cynon Taff £93,453 -2.7%

Merthyr Tydfil £89,920 -4.8%

Blaenau Gwent £82,491 -7.4

Dorset £226,010 -0.5%

Devon £212,600 -0.3%

Wiltshire £209,024 -3.5%

Cornwall £203,006 -2.5%

Bournemouth £202,293 2.2%

Gloucestershire £201,799 -0.5%

North Somerset £185,780 -4.6%

Somerset £183,850 -1.5%

South Gloucestershire £182,959 -2.5%

City Of Bristol £178,116 0.6% -0.9%

Torbay £174,208 -2.0%

Swindon £155,868 -2.3%

Brighton And Hove £222,241 0.6%

West Sussex £221,415 -2.2%

Essex £212,460 -0.9%

Kent £206,628 -0.4%

East Sussex £198,541 -3.0%

Reading £196,094 -2.0%

Isle Of Wight £181,138 -0.6%

Milton Keynes £175,337 -0.6%

Thurrock £169,523 -0.6% -1.5%

Southampton £161,716 -1.3%

Portsmouth £154,803 0.6%

Medway £154,231 -2.1%

City Of London £313,388 -4.5%

Hammersmith And Fulham £1,401,250 -17.9%

Wandsworth £1,230,830 -11.2%

Lewisham £351,863 -22.3%

Waltham Forest £317,750 -18.7% -28.1% 6

Newham £226,026 -22.2%

Enfield £568,411 -13.7% -18.6%

Chelsea £2,020,714 -18.2%

City Of Westminster £1,819,466 -20.2%

Camden £1,224,703 -6.5%

Islington £519,102 -37.1%

Hackney £420,577 -15.3%

Harrow £538,874 -9.6% -13.9%

Lambeth £527,750 -2.8%

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Guest grumpy-old-man

Pleasant reminder from the Land Registry :)

http://news.bbc.co.uk/1/shared/spl/hi/in_d...tml/region1.stm

The information below is based on figures provided by the Land Registry of England and Wales.

Figures for England and Wales are for the period January to March 2006.

Northumberland £149,225 -8.8%

Cumbria £143,851 -1.6%

Tyne And Wear £132,526 -0.3%

Stockton-On-Tees £128,643 -5.0%

Darlington £125,556 -5.6%

Durham £114,329 -4.3%

Redcar And Cleveland £109,289 -11.2%

Middlesbrough £108,982 4.7%

Hartlepool £98,770 -5.2%

East Riding Of Yorkshire £154,431 -4.5%

West Yorkshire £138,242 -1.1%

South Yorkshire £126,326 -1.4%

North Lincolnshire £122,869 -2.7%

North East Lincolnshire £102,179 -1.9%

Rutland £228,672 -7.7%

Leicestershire £170,145 -3.5%

Northamptonshire £158,537 -3.5%

Lincolnshire £147,659 -1.9%

Derbyshire £147,537 -3.5%

Nottinghamshire £146,871 -2.0%

City Of Derby £137,082 -0.3%

Leicester £134,130 0.3%

City Of Nottingham £119,797 -5.2%

Worcestershire £184,936 -3.3%

Warwickshire £184,860 -3.4%

Shropshire £184,664 -3.1%

Staffordshire £161,232 -0.1%

West Midlands £146,903 0.3%

Wrekin £140,819 1.2%

Stoke-On-Trent £89,910 -5.6%

Cheshire £185,036 -1.6%

Warrington £156,929 -4.5%

Greater Manchester £134,935 -2.1%

Merseyside £132,854 0.3%

Lancashire £128,806 -1.9%

Halton £127,289 -5.3%

Blackpool £119,112 2.8%

Blackburn With Darwen £98,762 -2.1%

Moray 101,031 -6.1%

Clackmannanshire 100,282 -6.8%

North Ayrshire 98,127 -1.9%

North Lanarkshire 96,363 1.7%

East Ayrshire 92,883 -10.3%

Orkney Islands 88,463 -10.3%

West Dunbartonshire 88,299 -7.4%

Shetland Islands 83,663 4.4%

Eilean Siar 75,640 -8.2%

Edinburgh, City Of 176,526 1.1%

East Renfrewshire 168,132 -8.8%

East Dunbartonshire 160,331 -8.6%

East Lothian 152,826 -7.5%

Stirling 144,367 -4.0%

Midlothian 134,238 -0.5%

Scottish Borders 130,622 -7.9%

Aberdeenshire 127,195 -3.4%

Highland 125,711 -3.4%

Glasgow City 124,370 -0.6%

Argyll And Bute 119,923 -5.9%

Isle Of Anglesey £145,033 -12.2%

Newport £144,790 -5.0%

Flintshire £142,754 -4.8%

Denbighshire £140,981 -1.9%

Swansea £139,153 -1.1%

Carmarthenshire £137,252 0.1%

Bridgend £133,572 -1.7%

Torfaen £120,546 -0.4%

Caerphilly £115,784 -1.5%

Neath Port Talbot £102,936 -2.6%

Rhondda Cynon Taff £93,453 -2.7%

Merthyr Tydfil £89,920 -4.8%

Blaenau Gwent £82,491 -7.4

Dorset £226,010 -0.5%

Devon £212,600 -0.3%

Wiltshire £209,024 -3.5%

Cornwall £203,006 -2.5%

Bournemouth £202,293 2.2%

Gloucestershire £201,799 -0.5%

North Somerset £185,780 -4.6%

Somerset £183,850 -1.5%

South Gloucestershire £182,959 -2.5%

City Of Bristol £178,116 0.6% -0.9%

Torbay £174,208 -2.0%

Swindon £155,868 -2.3%

Brighton And Hove £222,241 0.6%

West Sussex £221,415 -2.2%

Essex £212,460 -0.9%

Kent £206,628 -0.4%

East Sussex £198,541 -3.0%

Reading £196,094 -2.0%

Isle Of Wight £181,138 -0.6%

Milton Keynes £175,337 -0.6%

Thurrock £169,523 -0.6% -1.5%

Southampton £161,716 -1.3%

Portsmouth £154,803 0.6%

Medway £154,231 -2.1%

City Of London £313,388 -4.5%

Hammersmith And Fulham £1,401,250 -17.9%

Wandsworth £1,230,830 -11.2%

Lewisham £351,863 -22.3%

Waltham Forest £317,750 -18.7% -28.1% 6

Newham £226,026 -22.2%

Enfield £568,411 -13.7% -18.6%

Chelsea £2,020,714 -18.2%

City Of Westminster £1,819,466 -20.2%

Camden £1,224,703 -6.5%

Islington £519,102 -37.1%

Hackney £420,577 -15.3%

Harrow £538,874 -9.6% -13.9%

Lambeth £527,750 -2.8%

RB, my wife met up with 2 friends in York today, they are both from our home town of Stockton-on-tees, they have said that properties that were up at £125k are now up for £115, just as an example.

we live in Wakefield & have also noticed the same. I have followed certain properties in different price ranges & it's defninetly happening. EA's telling me that home owners are accepting lower offers, about 10% under asking price is very common now one said, whereas last year they were getting full price no probs.

It won't be long now. I have also noticed a definite change in sentiment on this site since last year.

Bulls getting very angry & dissapearing onto other sites ;) it's defintely happening, SM worries (although I am a newcomer in this area), world IR's on the up, local house price sentiment changing etc etc..........

keep the good work up RB :)

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But you are richer now?

Yes....

Is that your BMW X5 outside?

Yes..

Wan**r

Pardon?

Nevermind

I see this every day where i live makes me laugh my tits off debt on the drive of debt :lol:

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I see this every day where i live makes me laugh my tits off debt on the drive of debt :lol:

but.. what does my head in is that so many will agree... they will sit there.. smiling away.. and are so completly massivly and obviously wrong..

Should it not be abvious..?? I mean what are they thinking.....???? They sign the papers embracing the debt.. they read what they are doing.. they must know...

how can it not be obvious..

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spot-on apom,

I am surrounded by these types, at work, getting my hair cut, shopping, neighbours....fooking idiots the lot of them :(

getting my hair cut yesterday, she says

"well I've made 40k in the last 4 years since I bought my house"

I said" so are you selling to leave the country then?"

she says, looking very surprised "no, why"

I says "well just how do you get access to the money you have made ? if you want a bigger house & move it costs you the same difference to trade-up"

she has funny expression on her face, then realises....well sort of.....then says,

"ah well, at least I own a house eh"

:blink::blink:

our conversation stemmed from the fact that I am renting at the moment & she said I should buy straight away "cos there going up all the time" :ph34r:

This is your hairdresser giving you advice not Sorros.

I cannot remember who it was who pulled out of the market just before the 1929 crash, giving his reason that things had gone haywire as he had just been given a stock tip by his shoeshine boy

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This is your hairdresser giving you advice not Sorros.

I cannot remember who it was who pulled out of the market just before the 1929 crash, giving his reason that things had gone haywire as he had just been given a stock tip by his shoeshine boy

Warren Buffet, the billionaire who recently sacrificed the greater proportion of his wealth for charitable ends made his fortune within his lifetime by investing with great care and accuracy,

A very impressive man who can be quoted, for he had many wise things to say..

http://www.global-investor.com/quote/2710/Warren-Buffett

A pin lies in wait for every bubble and when the two eventually meet, a new wave of investors learns some very old lessons.

When you combine ignorance with leverage you get some pretty interesting results.

Never ask the barber if you need a haircut. (when listening to say a mortgage lender..)

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Guest grumpy-old-man

Warren Buffet, the billionaire who recently sacrificed the greater proportion of his wealth for charitable ends made his fortune within his lifetime by investing with great care and accuracy,

A very impressive man who can be quoted, for he had many wise things to say..

http://www.global-investor.com/quote/2710/Warren-Buffett

A pin lies in wait for every bubble and when the two eventually meet, a new wave of investors learns some very old lessons.

When you combine ignorance with leverage you get some pretty interesting results.

Never ask the barber if you need a haircut. (when listening to say a mortgage lender..)

"No country has ever been ruined on account of its debts." a quote from Hitler from your link....

do you think USA & the UK can break this quote

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"No country has ever been ruined on account of its debts." a quote from Hitler from your link....

do you think USA & the UK can break this quote

No country has ever based it's economy on debt before.. to be honest I would be surprised if it had even struck a chancellor as a very bright idea before..

did Hitler say it first?

He also thought the final solution would help his country escape it's financial ruin.. so his thinking can be seen as.. well very wrong and very evil..

Edited by apom

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No country has ever based it's economy on debt before.. to be honest I would be surprised if it had even struck a chancellor as a very bright idea before..

did Hitler say it first?

He also thought the final solution would help his country escape it's financial ruin.. so his thinking can be seen as.. well very wrong and very evil..

didn't mean to condone anything Hitler did/said. probably not a good quote to have used.

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didn't mean to condone anything Hitler did/said. probably not a good quote to have used.

I didn't think for one secon that you did.. no worries..

we can only thank god that very few people would..

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Can I just say that the most irritating part of this whole debarcle are the people..

Who are only increasing their debt.. and usually massivly... and will sit there 100% convinced that they are better of.

Hello there you are a homeowner?

Yes :)

So you have paid of your mortgage..?

No, not yet :)

But at least it's been getting smaller ;)

Whats been getting smaller?

Your mortage... you are closer now to having paid it of..

No.... are you insane.. houses make money, but the only way you can get hold of this money is to re-mortgage to free the money..

so you are further away from owning your house... now.. you are in more debt...?

Yes...

But you are richer now?

Yes....

Is that your BMW X5 outside?

Yes..

Wan**r

Pardon?

Nevermind

And how do you feel about the thousands of hard working families who have made the decision to buy over the last 5 years and who are working diligently and concientiously to clear their mortgage?

Not all "home owners" are profligate fools. I would guess that the discipline of having to pay a mortgage leads to a more responsible financial outlook than dossing at home with parents, or slumming it in a grubby shared house.

Is that your turn to clean the toilet?

Yes..

Wan**r

Pardon?

Nevermind

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And how do you feel about the thousands of hard working families who have made the decision to buy over the last 5 years and who are working diligently and concientiously to clear their mortgage?

Not all "home owners" are profligate fools. I would guess that the discipline of having to pay a mortgage leads to a more responsible financial outlook than dossing at home with parents, or slumming it in a grubby shared house.

Is that your turn to clean the toilet?

Yes..

Wan**r

Pardon?

Nevermind

I know plenty of diligent people who have bought in the last five years mate, people who have being diligently paying of their mortgages..

I think you missed the point.

Completely.

Not even close to having spotted it.

Grubby shared house...? I have lived all over this country, with many fascinating people, I have never lived in a grubby house... Most don't.

People don't buy until they decide to settle.. and Life is too short to settle down too soon... it is too damn vaulable..

What most on here are cross about is the irresponsible attitude toward the obvious economic cycle that can be argued against.. (but everytime in history those who have argued against it have been wrong. EVERYTIME......)

I will look back on a life rich with experience and adventure... and wealth.. That is more then just money.....

My sister has two BTL's both of which have rents covering repayment mortgages...

My parents have a rental property with no mortgage..

Financial outlook....? New builds have dropped about 12% in value in the south west according to the builders themselves..

I am not buying a house because I believe that they will drop in value. I have been told they will by.

The IMF saying they can't not

Mervin King saying that they cannot be sustained.. he says that a lot..

The builders saying prices are dropping

The Land registry saying that prices are dropping..

I have cleaned toilets in all of the properties that I have rented, I know people who have done so for a living.. I am not above it... There are nicer jobs granted....

But I will remain slightly more financially astute then someone who has just bought a car by re-financing their house... someone who has increased their debt in the belief that they are becoming wealthier doing so. I think you would be hard pressed to argue that point..

.

Edited by apom

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  • 302 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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