Well, I Gotta Hand It To Hpc In The End

[noddage]

I'm not sure what noise to add to this chorus of celebration.

Perhaps a simple "miaow" (while rolling around on the floor getting tangled up in 'particulars', or something).

Or then there's hooting. That's another thing I've been doing rather too much of lately, and I really should stop, or at least keep it to within my own garden.

Whooo!

That'll do pig, that'll do.

Winnie.

Yes.

[Harry Sacks]

You've got a good memory!

It's early days, and our customer numbers were lower at launch than we'd hoped for, but it's all coming together reasonably well thanks. We've managed to nick quite a few customers from our competitors (unintentionally), and so far we've been told that our produce is miles ahead in terms of both quality and quantity. We're partnering up with a local Deli which looks quite a promising project...all in all, 100% more exciting and worthwhile than the old office job.

Thanks for asking, it feels quite nice to be remembered!

You've got in at the right time. An online organic supermarket has recently launched in my area, extremely successful.

[Guest]

It cant get any worse for us as we are in the worst case scenario because we are couped up with our parents sneaking our girlfriends out in the middle of the night!!

Look, just tell them you're a les and be done with it.

Then you might feel better about the houses

[Goldfinger]

I am absolutely breathtaken by the headlines today specifically regarding mortgage lending down YOY 29%, BoE sh!tt1ng their pants, 1% house price fall (which is outright crash on a YOY basis) etc

This is deadly serious stuff now. I think the joke is over and it's probably time to forget the past and start to look for the best in ourselves and those around us (including the BTLers) because, frankly, it's going to get sticky from here on and there is going to be a tremendous amount of pain.

Over the last few months we have seen that a lot of scary stuff is going on (think only of Northern Rock). I am excited and freaked out at the same time that I have the privilege to be fully aware of the onset and development of the biggest economic slump in the lifetimes of most of us. We're staring into the abyss of what might once be known as the Greater Depression.

We will all pay for it. The costs will be socialised (again, Northern Rock is the first example). I have friends and relatives who will be at great risk in what is to come. It try to warn people to some extent, but they might prefer to shoot the messenger. Personally, I would like to come rich out of this mess that clearly seems to lie ahead. My strategy is known, and only the future will tell how I will fare. I won't complain, whatever way it will go for me.

There is no reason to be depressed. Get on with life an prepare for the worst. If it won't get that bad, take it as a bonus. Every now and then, listen to the 'nutters' and try to imagine what it meant for you if they were right.

[Compounded]

The really good investment is to spend the energy and time to find a way to have a rich fulfilling life without much money, friends and family are what matters not things.

The credit crunch (it will go on for years and years and get worse and worse) will deprive us of nothing that is essential, the houses will still be there and the farmers will still grow the food.

[ScaredEitherWay]

Thanks for asking, it feels quite nice to be remembered!

You're on his specially compiled list of "where to raid to get essential supplies if it all goes tits up ... just before I head for the woods".

And being a bit posh, Own Brand Baked Beans weren't getting a look in.

[DoctorJ]

Let the buy-to-letters suffer - landlord scum. Let them feel the pain they inflicted on others. Selfish Thatcherite bastards that they are.

As for the second home brigade - don't get me started.

Ta Ta Ty.

Gruff

good post. I can't wait to see the BTL sheeple burn in hell....******ing scum. RAAAAAAAAAAAAAAAHHHHHH!!!!!!!!!!!!!!

see I can do angry too.

Edited October 25, 2007 by DoctorJ

[BROF]

Every now and then, listen to the 'nutters' and try to imagine what it meant for you if they were right.

Every now and then???

Every visit to this site involves listening to nutters and imagining what it means to me if they are right......isn't that the whole point?

[GAL BEAR]

About ******ing time and all!!! For the last 5 years every penny saved was out stripped 10 fold with HPI, us FTB'rs have not had a ******ing chance and it has put strain on our families and the closeness of our community. I know 23 year olds that have up sticks to Canada, Oz And USA just to afford a ******ing house while the goverment has let in millions of immigrants, raised taxes and whatever else!!!

It cant get any worse for us as we are in the worst case scenario because we are couped up with our parents sneaking our girlfriends out in the middle of the night!!

I hope the greedy bastards pay for this, it will be nice to see that smug look off their face. I feel sorry for recent FTB'rs as they trust EA's to deliver a service and tell the truth. Only yesterday an EA was telling me to buy now as the lull was temporary, we are over the credit crunch and everything is going to fly off the shelf soon!!!

1% is not ******ing enough, i want US style 5.7% MOMOMOMOMOM until the Btl'rs buckle and give in!!!

The last crash my dad could hardly pay one mortgage let alone 10. The greedy bastards deserve this and the EA's and scummy Sub-prime brokers can go ****** themselves in their paper thin Barratt flats that they brought with their capital gains!!!

****** the lot of em, enough is enough. There are a lot of bitter twentysomethings who think things cant get much worse than they are we are very very pissed off and we want someone to blame!!!!!

Who wants to step up?

WELL SAID !

I could not have put it better myself.

I am one of the few BABY BOOMERS to be priced out the of market and its been a hard few years having to put up with other 'BOOMERS' snearing remarks and put downs.

I can't wait to hear and see their pain.

I do feel sorry for the young people who have beem sucked into this pyramid though, they

have been merely lambs to the slaughter I'm afraid.

[DoctorJ]

Over the last few months we have seen that a lot of scary stuff is going on (think only of Northern Rock). I am excited and freaked out at the same time that I have the privilege to be fully aware of the onset and development of the biggest economic slump in the lifetimes of most of us. We're staring into the abyss of what might once be known as the Greater Depression.

We will all pay for it. The costs will be socialised (again, Northern Rock is the first example). I have friends and relatives who will be at great risk in what is to come. It try to warn people to some extent, but they might prefer to shoot the messenger. Personally, I would like to come rich out of this mess that clearly seems to lie ahead. My strategy is known, and only the future will tell how I will fare. I won't complain, whatever way it will go for me.

There is no reason to be depressed. Get on with life an prepare for the worst. If it won't get that bad, take it as a bonus. Every now and then, listen to the 'nutters' and try to imagine what it meant for you if they were right.

Cheers GF. I have a horrible feeling that we are in deep sh*t but I have to be honest, I have no idea what to do about it.

I don't have any spare cash to invest in gold or shares etc. I'm just finding my feet, saving cash for a time when I feel house prices are worth it (and I can afford it) and I can buy somewhere for me, my wife and my kids (soon to be born) to settle. I'm such a noob I've got no idea how to go about investing properly.

I have no 'real' financial knowledge so my feeling is simply that...a feeling. Being an HPCer I am seeing it all happen in slow motion. Its like a tsunami hurtling towards land, but I'm just surfing the bugger waiting for the inevitable catastrophe.

Its as if I have no choice but to continue as I am and hope that I'm not the one who puts a foot wrong in the minefield

[game over]

Interest rates will be cut next month. Crash postponed just like 2005. Just wait and see

[lets get it right]

Interest rates will be cut next month. Crash postponed just like 2005. Just wait and see

And the imaginary credit crunch will just disappear will it?

[Jonnybegood]

Been here before to an extent, its funny how things can change week on week.

The board went quiet a couple of weeks back after the NR saga, many thought the banks had pulled out an escape route and no end to this mess.

Then this week and latter part of last a few more promising signs that things were starting to turn bad once again, is this it?

From some of the mainstream bears in the media they think it is, they have followed this along the way and many have now gone public more than ever before to state their case, BUT what I am seeing from many is what they expect in the shape of falls in the property market, a quite common statement is "By as much as 20%" Wow 20%, If this is to be the case I don't think many on here will be to happy when talk of 40% has been mentioned here on more than one occasion.

A question for many of the bears here, Why firstly do you think that falls will happen more rapidly than the rate of which property prices grew? i.e rather than 4% fall YOY it would be something like 10% YOY for the next 3 years whereas property in general has taken 8 years to double (100%) increase.

and secondly why do many feel that prices will actually go in reverse immediately rather than flat line for sometime? When speaking of the market bottoming many will point towards there being some years before prices start to go upwards once again, however when peaking they state that prices will then suddenly fall backwards.

Do you think there will ever be a good time to buy property again?

When you hear people speak of buying 15 years ago for £80k and selling today at over £400k, even with extremes of 50% falls, prices will never be knowhere near what they were then.

I am realistically thinking nice family home 30% fall at most and even then its still going to be expensive, IR possibly higher and lower income multiples going to leave these properties out of reach of many.

No job and higher inflation and you can forget it all together.

[lets get it right]

The really good investment is to spend the energy and time to find a way to have a rich fulfilling life without much money, friends and family are what matters not things.

Imagine this:

You're married and have two young children for whom you have to provide ... shelter, food, stability, clothes, love and whatever paraphernalia of modern life you deem important.

You work for a living. Hard work, long hours because that is the way of the world - the only way you can earn enough money to get by. You need a car to get to your job 30 miles away. Your wife works too, because you can't afford to live otherwise. The kids go to nursery while your wife works. She needs a car to drop the kids at nursery, go to work, shop etc.

Houses are expensive and you don't want to rent forever - so you have to pay for the following ....

A large mortgage

buildings insurance

contents insurance

council tax

water rates

gas

electricity

phone

internet connection

food

clothes

petrol

2 cars

2 car insurances

2 car taxes

2 MOTs

2 lots of car servicing

2 lots of car repairs

furniture

carpets

curtains

white goods

nursery fees

and, of course, like everyone else you have to pay for all those things after the Government has mugged you for income tax and national insurance.

Your life is one long endless round of work and household chores.

So, to look after the things that matter, friends and family, you have to work like a dog and so does your wife. Your quality of life is crap because you have to work so hard just to keep your head above water.

But, hold on, it's just a question of priorities - apparently. You just need to change the way you think about things to have a 'rich and fulfilling' life.

You're an eegit.

[Goldfinger]

A question for many of the bears here, Why firstly do you think that falls will happen more rapidly than the rate of which property prices grew?

While the rise in prices came from the increasing willingness of buyers to take on more and more easily available debt, the credit spigots have just all been turned off at once on 09/08/07. It is now not the property market that shapes prices, but the credit market. Only, credit has dried up, and therefore prices will plunge quickly.

[narco]

Interest rates will be cut next month. Crash postponed just like 2005. Just wait and see

Yes, just like last months .5% cut helped the US market

[noddage]

"A large mortgage"

Na, na, naa, na, na, naaahhh!

Tee-hee, how rude.

[Downtraded]

He's no eegit, mate. He's damm right.

It seems that your priorities are "provision" for the family. Well that's great and dandy but it sounds like you're quite bitter about "your lot". Being a wage slave doesn't prove you're "right".

Think about it. What do you want in life? If you measure it as "paying off my debts" then you really need to look at yourself carefully. Once you've done that - who the hell are you then?

Its a lame excuse really. "Oh, I would be fine once I've paid off all these nasty bills".

But, hold on, it's just a question of priorities - apparently. You just need to change the way you think about things to have a 'rich and fulfilling' life.

You're an eegit.

[winkie]

Interest rates will be cut next month. Crash postponed just like 2005. Just wait and see

And the imaginary credit crunch will just disappear will it?

In your dreams.

[mattyboy1973]

Imagine this:

But, hold on, it's just a question of priorities - apparently. You just need to change the way you think about things to have a 'rich and fulfilling' life.

even tho you were being sarcastic, that is exactly right!

get off the treadmill man.

[Guest grumpy-old-man]

Over the last few months we have seen that a lot of scary stuff is going on (think only of Northern Rock). I am excited and freaked out at the same time that I have the privilege to be fully aware of the onset and development of the biggest economic slump in the lifetimes of most of us. We're staring into the abyss of what might once be known as the Greater Depression.

We will all pay for it. The costs will be socialised (again, Northern Rock is the first example). I have friends and relatives who will be at great risk in what is to come. It try to warn people to some extent, but they might prefer to shoot the messenger. Personally, I would like to come rich out of this mess that clearly seems to lie ahead. My strategy is known, and only the future will tell how I will fare. I won't complain, whatever way it will go for me.

There is no reason to be depressed. Get on with life an prepare for the worst. If it won't get that bad, take it as a bonus. Every now and then, listen to the 'nutters' and try to imagine what it meant for you if they were right.

good post GF.

I have changed my career based on what I have learned from people like yourself & others (you know who you are).

I expect it to be really bad in the UK & I have done as much as I can to prepare for it, but not as much as some.

I understand where you are coming from about giving people advice, it's very difficult isn't it. A few (& I mean a handful) have listened the rest just want hpi, you can sense it in their conversations & views.

Good job I listened a few years ago, that's all I'm saying.

edited - I see GOLD is up again.

Edited October 26, 2007 by grumpy-old-man