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Oliver Sutton

The Crash Has Started

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This was exactly how it panned out last time (but not as quickly). Started with new builds and spread to the rest.

The buy-to-let market is in crisis as 40 per cent has been wiped off the value of new purpose-built investment properties in the past year, a survey by The Daily Telegraph has found.

40 pc falls

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Tasty!

There's a link in the story to another article:

'Rent gap' fear in buy-to-let market

By Harry Wallop, Consumer Affairs Correspondent

Last Updated: 2:30am BST 24/09/2007

Fresh fears for the buy-to-let market were raised last night, after figures showed that most investors face not receiving enough from their properties to pay their mortgage payments.

http://www.telegraph.co.uk/news/main.jhtml.../nwealth224.xml

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Well I wish it crash round my way, houses (and flats) are still selling at stupid prices, there is a new development going up round the corner from where I live (little village, one tiny school, etc.) of 85 properties or is it 'dwellings' it was fiercely opposed but to no avail of course, I would love see them not sell, I live in hope....

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Supporters of buy-to-let say most investors should not be hit by the mortgage squeeze because they are sitting on large profits made in the boom of the last couple of years.

Denial :) Love it. Everything is fine becauase look at our past performance. So erm if you sell that BTL investment and lose 40% on it is it still large profits. Or are you ASSuming that becuase its valued at 200k right now, it will actually sell for that?

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There will not be a crash

This sort of post is as annoying as it is futile. About as useful as saying "loans are bad".

No reasoning, logic (faulty or otherwise).... just stupid.

Perhaps you might enlighten us lesser beings why "there will not be a crash".

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Guest AuntJess
This sort of post is as annoying as it is futile. About as useful as saying "loans are bad".

No reasoning, logic (faulty or otherwise).... just stupid.

Perhaps you might enlighten us lesser beings why "there will not be a crash".

I reckon it is someone feeling a bit irritable, trolling to wind you up. <_< That's how some people get their jollies and there are a fair few of them on here. B)

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This sort of post is as annoying as it is futile. About as useful as saying "loans are bad".

No reasoning, logic (faulty or otherwise).... just stupid.

Perhaps you might enlighten us lesser beings why "there will not be a crash".

I am honored. It's only his 2nd post in a year.

Surprisingly, he's a (self-confessed) Estate Agent !!!

Nice of him to bump my topic.

Edited by barry

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I am honored. It's only his 2nd post in a year.

Surprisingly, he's a (self-confessed) Estate Agent !!!

Nice of him to bump my topic.

Give the guy a break. There must be thousands of websites he's got to visit to suppress news of the HPC! We should feel honoured he managed to get to us twice in the same year. :lol:

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I performed a small sum yesterday against the costs of running a £330,000 mortgage against a £370,000 flat in west Kensington..

The flat could rent out for about £300 a week looking at the location/condition..

But an interest only mortgage at 6% against £330,000 would cost £380 a week…

That does not include:

Agency fees

Ground rent

Insurance

Maintenance.

Capital repayments against the loan.

So, this does not seem to be the highest yielding of investments..

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I don’t know – crash is a strange word – if a plane was to crash it would go from 1000 feet to 0 and not go up again – so how can houses crash – to be honest just like this site the word is used although it is extreme

Anyway so guessing – there will be no crash – perhaps a slow down – even a few reductions – but like last time there will be inflation and house prices will pick up again and they will always be expensive – maybe even more so as this time around we have more people entering the country all looking for somewhere to live (there could actually be a shortage / although it’s not talked about as a possibility here)– whatever happens house prices will always be expensive even during a recession as you just don’t have the money to spend or you are to worried about losing your job

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Guest muttley
Give the guy a break. There must be thousands of websites he's got to visit to suppress news of the HPC! We should feel honoured he managed to get to us twice in the same year. :lol:

Actually, I remember him as a good poster with reasoned arguments. The post on this thread was uncharachteristically unqualified.

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I don’t know – crash is a strange word – if a plane was to crash it would go from 1000 feet to 0 and not go up again – so how can houses crash – to be honest just like this site the word is used although it is extreme

Anyway so guessing – there will be no crash – perhaps a slow down – even a few reductions – but like last time there will be inflation and house prices will pick up again and they will always be expensive – maybe even more so as this time around we have more people entering the country all looking for somewhere to live (there could actually be a shortage / although it’s not talked about as a possibility here)– whatever happens house prices will always be expensive even during a recession as you just don’t have the money to spend or you are to worried about losing your job

Well a 8% increase will invariable be described as "soaring" or indeed "rocketing".

In similar language an 8% fall can be defined as a crash.

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Well a 8% increase will invariable be described as "soaring" or indeed "rocketing".

In similar language an 8% fall can be defined as a crash.

not the same at all - nice try though - you extreme lot

--------------------------------

soar·ing (sôrng, sr-)

n.

The act of gliding while maintaining altitude, especially the sport of flying a heavier-than-air craft by using ascending currents of air.

adj.

Ascending to a level markedly higher than the usual: soaring fuel costs; the soaring spires of the cathedral.

--------------------------------

v. rock·et·ed, rock·et·ing, rock·ets

v.intr.

1. To move swiftly and powerfully, as a rocket

2. To fly swiftly straight up, as a game bird frightened from cover.

3. To soar or rise rapidly: The book rocketed to the top of the bestseller list.

v.tr.

1. To carry by means of a rocket.

2. To assault with rockets.

--------------------------------

crash 1 (krsh)

v. crashed, crash·ing, crash·es

v.intr.

1.

a. To break violently or noisily; smash.

b. To undergo sudden damage or destruction on impact: Their car crashed into a guardrail. The airplane crashed over the ocean.

2. To make a sudden loud noise: breakers crashing against the rocks.

3. To move noisily or so as to cause damage: went crashing through the woods.

4. To undergo a sudden severe downturn, as a market or economy.

5. Computer Science To stop functioning due to a crash.

6. Slang To undergo a period of unpleasant feeling or depression as an aftereffect of drug-taking.

7. Slang

a. To find temporary lodging or shelter, as for the night.

b. To go to sleep.

v.tr.

1. To cause to crash.

2. To dash to pieces; smash.

3. Informal To join or enter (a party, for example) without invitation.

n.

1. A sudden loud noise, as of an object breaking.

2.

a. A smashing to pieces.

b. A collision, as between two automobiles. See Synonyms at collision.

3. A sudden severe downturn: a market crash; a population crash.

4. Computer Science

a. A sudden failure of a hard drive caused by damaging contact between the head and the storage surface, often resulting in the loss of data on the drive.

b. A sudden failure of a program or operating system, usually without serious consequences.

5. Slang Mental depression after drug-taking.

adj. Informal

Of or characterized by an intensive effort to produce or accomplish: a crash course on income-tax preparation; a crash diet.

Idiom:

crash and burn Slang

1. To fail utterly.

2. To fall asleep from exhaustion.

3. To wipe out, as in skateboarding.

Edited by look to the past

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And the best bit...

However, in Nottingham 10 flats are on sale in Brook Court, Nottingham for £89,950 – a sharp fall on the £139,000 that the developer was selling them for as recently as December last year.

But the govt must draw a line between bailing out savers and bailing out bad bankers.

If you run a lax bank, the savers' money should be safe but the bank itself and senior management should not be helped. Further, any such bankers should be banned from working in banking for 10 years.

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I am honored. It's only his 2nd post in a year.

Surprisingly, he's a (self-confessed) Estate Agent !!!

Nice of him to bump my topic.

fred is a bit of a star but he goes a bit wierd every now and then.

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I don’t know – crash is a strange word – if a plane was to crash it would go from 1000 feet to 0 and not go up again – so how can houses crash – to be honest just like this site the word is used although it is extreme

Anyway so guessing – there will be no crash – perhaps a slow down – even a few reductions – but like last time there will be inflation and house prices will pick up again and they will always be expensive – maybe even more so as this time around we have more people entering the country all looking for somewhere to live (there could actually be a shortage / although it’s not talked about as a possibility here)– whatever happens house prices will always be expensive even during a recession as you just don’t have the money to spend or you are to worried about losing your job

We have people entering the country whilst there's jobs for them, and to share a place on low rents.

Poland has seen wages up dramatically - they may return home in significant numbers. And with fewer jobs here anyway, less will come over from around Europe.

And don't forget, 200,000 native Brits leave the UK to move abroad EACH YEAR.

edit> Oh yeah, and as a lot of the immigrants were allied to the building trade (incl painters and tilers as well as roofers and construction workers) they may well opt to go home. And if any of them have bought a house on a lax mortgage they'll not be able to pay the mortgage and will also be going off home. It's not easy to walk into another job, not even for native English speakers, agencies are full of office staff looking for something - even in London. So I don't see them getting other work, in the main.

Edited by The Last Bear

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not the same at all - nice try though - you extreme lot

I presume you were being ironic. If so :lol::lol:

If not\/

crash 1 (krsh)

v. crashed, crash·ing, crash·es

v.intr.

~~~

3. A sudden severe downturn: a market crash; a population crash.

~~~

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This was exactly how it panned out last time (but not as quickly). Started with new builds and spread to the rest.

40 pc falls

If this was Land Registry or Rightmove survey then rejoice. Auction survey, different kettle of fish I suggest.

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I presume you were being ironic. If so :lol::lol:

If not\/

Anyone up for renaming this site

House price swerve

House price stagnation

House price reductions

or

House price annihilation

House price obliteration

No but seriously I am presuming that “house prices won’t crash” means it will be gentle or hidden by inflation this time (not in my opinion though)

Truly I believe it will be a TEC (Total Economy Crash) and nobody will care about house prices

In financial terms a crash is usually considered a drop of 30% or more.

Yes but if every thing else rockets in price instead does that make a crash

Edited by look to the past

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IMHO House prices cant crash- theres nothing Solid in them-

the term soar is used to indicate that they are flying really high and is used in headlines- for example,

prices take off, means theyve gone up but and are about to rise further,

rising means they are rising (Obviously),

prices are soaring means they are better than rising,

prices are stratospheric is hyper high,

prices are to the moon (etc etc)

I think the reason the market calls something has crashed is when a participant in the market loses a shed of money, hence his finances, once "Soaring" have now crashed and burned.

Nothing really to do with the speed of descent

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