God Help Them

[Badger]

'New trend amongst 1st time buyers is to browse the net for strangers to buy a home with'

Holy crap.

[simon99]

Yes, I saw this too. Almost unbelievably the piece seemed to give the impression it was a good idea. No lack of people willing to take on these crazy schemes. No mention of what happens when one loses their job or wants out.

[Realistbear]

'New trend amongst 1st time buyers is to browse the net for strangers to buy a home with'

Holy crap.

This is a bigger scandal than the immigration mess and not unrelated either. This government should resign in disgrace for having committed a crime against the young people and others struggling to buy a basic necessity--a home. NuLabour are going to pay a terrible price for this and judgement day is not far away.

Edited August 26, 2006 by Realistbear

[Guest The_Oldie]

One of them mentioned the possibility of "Buddy Investing", BTL?

They have "Mortgage Expert" Ray Bulger on after 08:00 .

[Qetesuesi]

This is a bigger scandal than the immigration mess and not unrelated either. This government should resign in disgrace for having committed a crime against the young people and others struggling to buy a basic necessity--a home. NuLabour are going to pay a terrible price for this and judgement day is not far away.

Seconded. Where do FAMILIES fit into this abominable economic excrement? Crushing an already chronically-depressed birthrate is the worst criminal negligence arising from runaway HPI.

Well PP, we're all waiting for you to come on and justify your Casino Chancellor yet again.

[Badger]

UPDATE - They just read out an email from someone whos buying partner turned out to be 'not what they expected at all' and turned the place they'd bought together practically into a squat - this person said to 'think twice before entering into an agreement like this' No sh*t sherlock. I wouldn' buy with my best friend.

[Qetesuesi]

UPDATE - They just read out an email from someone whos buying partner turned out to be 'not what they expected at all' and turned the place they'd bought together practically into a squat - this person said to 'think twice before entering into an agreement like this' No sh*t sherlock. I wouldn' buy with my best friend.

What's truly shocking is that anyone is buying into this sh*t at all. Where's the solid evidence that there really is a 'trend' in this? All based on sentiment and the myth that HPs will only rise even when in many places they're now actually falling.

[newaccount99]

None of this is new and always surfaces in the final months of a peaking market.

I remember co-ownerships being touted back in the late 80's as a solution to the house buying problem. Never really heard much of them again when everything was crashing.

There is no situation where I would consider buying with a stranger, and as someone mentioned earlier wouldn't even consider it with a best friend or family member.

[Swipe]

None of this is new and always surfaces in the final months of a peaking market.

I remember co-ownerships being touted back in the late 80's as a solution to the house buying problem. Never really heard much of them again when everything was crashing.

There is no situation where I would consider buying with a stranger, and as someone mentioned earlier wouldn't even consider it with a best friend or family member.

For God's sake I wouldn't even rent with a friend (been there, done that) let alone buy with a stranger. Sure signs of desperation.

[Qetesuesi]

Oh for a glimpse of the Wikipedia article on Gordon Boom in two years' time.

[coolaftershave]

JUST NOW! But doubt that particular adviser will be allowed back on! LOL

All emails sent to bbc this mornings and plus personal finance spokes woman says it "madness" and a recipe for a disaster....

Says it reminds her of the 80s.... and says CRASH HAPPEND AFTER!!!

AM glad sheeple are exposed to this finance woman.

BBC reporters still trying to justify it though!

Its never going to work anyway.. whats the upper limit as affordability rockets?

Buy with 3, 4 ,5 how do you keep 5 people in a 2 bed flat.

She just said…. “WE COULD HAVE A CRASH WITHIN 2 YEARS”

This on the BBC.. Blimey!!!

Edited August 26, 2006 by coolaftershave

[laughing_goat]

Some one called Jasmine Bercal (probably spelt wrong), has just been on, basically poo pooing the idea as madness. She made a very good point about how this happened in the later 80's just befor the HPC then.

[coolaftershave]

Some one called Jasmine Bercal (probably spelt wrong), has just been on, basically poo pooing the idea as madness. She made a very good point about how this happened in the later 80's just befor the HPC then.

Yup thats the woman! Just saw her... she actually said "There may be a crash within 2 years" OMG

I think bbc are trying to gently warn people... think so?

Some people must be scared this morning...

Edited August 26, 2006 by coolaftershave

[Xurbia]

JUST NOW! But doubt that particular adviser will be allowed back on! LOL

All emails sent to bbc this mornings and plus personal finance spokes woman says it "madness" and a recipe for a disaster....

Says it reminds her of the 80s.... and says CRASH HAPPEND AFTER!!!

AM glad sheeple are exposed to this finance woman.

BBC reporters still trying to justify it though!

Its never going to work anyway.. whats the upper limit as affordability rockets?

Buy with 3, 4 ,5 how do you keep 5 people in a 2 bed flat.

She just said…. “WE COULD HAVE A CRASH WITHIN 2 YEARS”

This on the BBC.. Blimey!!!

Nice looking intelligent woman predicting a crash.................. must be a dream then.

[Badger]

I know somebody who did just this in the early 90's (you know what's coming). Him and a friend bought a place, then for some unforseen reason they had to sell, you guessed it, after prices had plummeted. He finished paying back his half of what they owed the bank about ten years later. He is now renting and probably would be keen to keep it that way after an experience like that.

[Casual Observer]

Buy with 3, 4 ,5 how do you keep 5 people in a 2 bed flat.

Timeshare?

[loderingo]

Nice looking intelligent woman predicting a crash.................. must be a dream then.

Liked the bit in the film as well where the advisor there also shot down:

"And thirdly, you might of course end up buying with a psychopath"

[Xurbia]

I know somebody who did just this in the early 90's (you know what's coming). Him and a friend bought a place, then for some unforseen reason they had to sell, you guessed it, after prices had plummeted. He finished paying back his half of what they owed the bank about ten years later. He is now renting and probably would be keen to keep it that way after an experience like that.

Likewise, so it's probably an indicator the market is going to plummet again. There will be a lot of very 'once bullish' property bears very shortly.

Liked the bit in the film as well where the advisor there also shot down:

"And thirdly, you might of course end up buying with a psychopath"

One morning you wake up inside the cavity wall. It dawns on you that your new mortgage buddies, Rose and Fred, skimped on the wall-insulation.

[coolaftershave]

If the BBC allow this type of blatant talk about a possible CRASH with little counter spin

today is an important day for us.

But... do you think that all the MEW people are away on holiday and wont be exposed to this news?

CAS

It's the trouble in the US that has spooked the BBC me thinks.

Edited August 26, 2006 by coolaftershave

[northern numpty]

'New trend amongst 1st time buyers is to browse the net for strangers to buy a home with'

Holy crap.

One worse than this......in my local asda, some muppet has a card up on the sales board asking for a partner to buy a property with......footnote says wise investment opportunity....i sh1t you not.

What is going on in this ballbag country.

[Casual Observer]

If the BBC allow this type of blatant talk about a possible CRASH with little counter spin

today is an important day for us.

But... do you think that all the MEW people are away on holiday and wont be exposed to this news?

Yes, otherwise the BBC would have censored it

Seriously, you've got to give up on some of these conspiracy theories. Every time something bearish is shown in the media there's speculation on here about what new tricks the "VIs" are up to. Why not just accept that there is no conspiracy? Things will be a lot less difficult to understand

[Xurbia]

Yes, otherwise the BBC would have censored it

Seriously, you've got to give up on some of these conspiracy theories. Every time something bearish is shown in the media there's speculation on here about what new tricks the "VIs" are up to. Why not just accept that there is no conspiracy? Things will be a lot less difficult to understand

Have to disagree. DOCTOR DAVID KELLY!!!!!!!!!

[coolaftershave]

Yes, otherwise the BBC would have censored it

Seriously, you've got to give up on some of these conspiracy theories. Every time something bearish is shown in the media there's speculation on here about what new tricks the "VIs" are up to. Why not just accept that there is no conspiracy? Things will be a lot less difficult to understand

Well what I find tough to understand is.... why have I been spared financial ruin on information from this site that was

put together by independent experts and why the rest of the uk were not informed of the same information by the BBC?

Why let things get out of hand? Why warn when its too late?

[laughing_goat]

Yup thats the woman! Just saw her... she actually said "There may be a crash within 2 years" OMG

I think bbc are trying to gently warn people... think so?

Some people must be scared this morning...

90% of the time I find the BBC's financial reporting to be substandard and possibly one sided. Examples of such are below;

1) Julia Caesar's interpretation of the Rightmove press releases on house prices. This is reported (incorrectly) when positive and not reported when negative.

2)Their constant use of estate agents under the title of 'property expert' to give advice to FTBs.

3)Their willingness to champion house price rises as a good thing, often without question.

4)Jumping on the bandwagon of "helping FTBs", which in my opinion is mearly a way to stop house prices falling rather than helping FTBs.

But occasionally they do suprise me, however, it is worth noting that this woman was a guest and not a reporter. But usually there is someone there to challenge the 'crazy doomonger'.

[Converted Lurker]

Hats off to the BBC on this; mentions that universally the e-mails received condemned the idea and the IFA giving it the thumbs down mentioning "crash" and at best prices flattening out, drawing comparisons with late 80's etc. was good to hear. Sharedspaces, co-buy with me, firstrungnow...none of these joint buy/co -buy schemes have worked...know nothing muppets :angry: There is a perfectly good method of buying a property...it's not that extreme, its called a re-payment mortgage. If that's not the solution due to inflated prices/affordability then simply stay out of the marketplace.