smiffy1967 Posted March 2, 2008 Share Posted March 2, 2008 Everywhere i go and any vested interest i speak too is so in denial. Some experiences this week end, went to look at a couple of houses, met a guy whom was decent enough to walk us through a wooded area and point us to the house we where viewing. We started to chat, he was building a house to sell, we talked briefly about no more 100% loans, he suggested that's how it used to be, i mentioned my fear of recession and a big crash in property prices, his answer, it wont happen. Was at a friends the other week, and her husband came out with the time tested, we are talking ourselves into recession (isn't that technically impossible)? Told my sister whom has mewed more money in the last 3 years since buying here council house in north Ascot, that i need to save another 10K if i want to get the nice house i saw this weekend, or something similar, but then told her that it does not matter because buy the time i am about to buy, house prices would have fallen dramatically due to a very large recession, what did she say? Just rebuked me and made out i must be jealous because she does not even realize she is in negative equity yet. worse still, she has about 15 months until her second fixed rate deal ends, she aint gonna be able to re mortgage. Spoke with my boss, completely in denial, said there would be a slowdown and then things will pick up again. Same arguments regarding peak oil and gas, these people look outside at there nice car, drive to Tesco and actually believe that this way of life can continue for ever. I am really starting to believe that i am living in the matrix Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted March 2, 2008 Share Posted March 2, 2008 fantastic post regarding our ficticious economy Quote Link to comment Share on other sites More sharing options...
Live Peasant Posted March 2, 2008 Share Posted March 2, 2008 I am really starting to believe that i am living in the matrix Just roll with it smiffy. If you're planning on staying in Telford then I reckon you'll be ok. Prices are going to crash big time. Halesfield etc just don't pay the salaries required to justify the general house prices in the area. It's just a pain in the **** to get to unless you're going into Wales. Some of the older areas around Coalbrookdale and Wellington will hold up better but still come down. Telford has yet to develop any real character or loyalty and so people will move out without too many problems. Quote Link to comment Share on other sites More sharing options...
Harry Sacks Posted March 2, 2008 Share Posted March 2, 2008 I am really starting to believe that i am living in the matrix You are! Quote Link to comment Share on other sites More sharing options...
huw Posted March 2, 2008 Share Posted March 2, 2008 I am really starting to believe that i am living in the matrix It's generally easiest to persuade someone of something in which they want to believe. Except it's gone beyond that now; it's a case of what they need to believe. Which means that reality is going to be even more of a slap in the face, of course. Quote Link to comment Share on other sites More sharing options...
smiffy1967 Posted March 2, 2008 Author Share Posted March 2, 2008 Just roll with it smiffy. If you're planning on staying in Telford then I reckon you'll be ok. Prices are going to crash big time.Halesfield etc just don't pay the salaries required to justify the general house prices in the area. It's just a pain in the **** to get to unless you're going into Wales. Some of the older areas around Coalbrookdale and Wellington will hold up better but still come down. Telford has yet to develop any real character or loyalty and so people will move out without too many problems. Thats cool that you know the area, i live in Ironbridge and my kids go to coalbrookdale school. Totally agree with what you said, salaries just don't pay amount required to keep property obtainable at current prices. As many of you recall, i was laid off late september 2007 and spent a few uncomftable months on the dole, i have been in IT for 15 years and was offered some contract work which i took, it paid 16500 PA. From the day i started i was looking for a new job, within 1 month i found a new job, in wolves, 32,100 PA left the Telford Job immedietly. HOuse prices in Telford and parts of shropshire are gonna tank big time. Quote Link to comment Share on other sites More sharing options...
Kaine Posted March 2, 2008 Share Posted March 2, 2008 (edited) HOuse prices in Telford and parts of shropshire are gonna tank big time. Used to live in Leegomery for 7 years until sold up - been watching the prices using property bee since new year and still no changes - its going to be very interesting Edited March 2, 2008 by Kaine Quote Link to comment Share on other sites More sharing options...
Sonic the Hedge Fund Posted March 2, 2008 Share Posted March 2, 2008 It's generally easiest to persuade someone of something in which they want to believe. Except it's gone beyond that now; it's a case of what they need to believe.Which means that reality is going to be even more of a slap in the face, of course. So it's the red pill or the red pill then?.... Quote Link to comment Share on other sites More sharing options...
Live Peasant Posted March 2, 2008 Share Posted March 2, 2008 (edited) Thats cool that you know the area, i live in Ironbridge and my kids go to coalbrookdale school. Totally agree with what you said, salaries just don't pay amount required to keep property obtainable at current prices.As many of you recall, i was laid off late september 2007 and spent a few uncomftable months on the dole, i have been in IT for 15 years and was offered some contract work which i took, it paid 16500 PA. From the day i started i was looking for a new job, within 1 month i found a new job, in wolves, 32,100 PA left the Telford Job immedietly. HOuse prices in Telford and parts of shropshire are gonna tank big time. I lived at the Rock around the time the brand new Sainsbury's fell into an old mineshaft. I went to school at Orleton Park which they knocked down to build flats. I bought a new build two-bed at the bottom of lawley common in 98 for 52k sold up in 2001 to work in Cambridge. Best move I ever made. Just looking at estates like overdale and the way the development zoning works I can't see a glorious future for the area. It's generally a low skill, high volume, light industrial area which means low wages. Edited March 2, 2008 by linuxgeek Quote Link to comment Share on other sites More sharing options...
enrieb Posted March 2, 2008 Share Posted March 2, 2008 Sometimes its best not to talk about economics with people who don't even understand the most basic concepts. My sister is also economically illiterate, its funny how they imagine just because they have an opinion then it automatically become a valid opinion. They just don't understand the difference between informed opinion and an uninformed opinion and it will cost them a lot of money and pain before this is over. If you try to dumb it down to explain the situation to them, they will pick holes in your position because you dumbed it down, yet if you try to explain it properly their eyes glaze over when you use the correct terminology and attempt to explain concepts that are completely unknown to them. If you lived in the 16th century and you knew the earth was round it would be better if you kept your opinion to yourself. Most of the bewildered herd are conditioned to believe necessary illusions that are often repeated over and over in the media (house prices only go up) and any concept or argument that falls outside of these accepted truths is completely dismissed or even aggressively attacked because it falls outside of their narrow view of the world. Quote Link to comment Share on other sites More sharing options...
smiffy1967 Posted March 2, 2008 Author Share Posted March 2, 2008 'Same arguments regarding peak oil and gas, these people look outside at there nice car, drive to Tesco and actually believe that this way of life can continue for ever.'lovely line.......sums it all up nicely.cheap food,cheap debt,spendthrift govt etc It's all very sad. They cant quite grasp that we are going to become a much poorer country and slip right down the rich league tables as a country. They cant uite grasp that we may have trouble around about 2012 keeping the lights on, they cant uite grasp that by mid next decade, the motor car may begin the disapear, they cant uite grasp that we borrow and spend more than we make, and that we now have a big bill to pay without any means of paying it (we don't make things). And is just me, but are ordinary British people some of the dumbest people i have ever met? Or has all those years of cheap credit and getting everything you ever wished for stopped them looking at the bigger picture and basically stopped them thinking? Quote Link to comment Share on other sites More sharing options...
smiffy1967 Posted March 2, 2008 Author Share Posted March 2, 2008 I lived at the Rock around the time the brand new Sainsbury's fell into an old mineshaft. I went to school at Orleton Park which they knocked down to build flats. I bought a new build two-bed at the bottom of lawley common in 98 for 52k sold up in 2001 to work in Cambridge. Best move I ever made. Just looking at estates like overdale and the way the development zoning works I can't see a glorious future for the area. It's generally a low skill, high volume, light industrial area which means low wages. I agree with everything you are saying. But living in the gourge is a lifetime away from what your saying. I still think shropshire is a fantastic county to bring kids up in. Quote Link to comment Share on other sites More sharing options...
Timil Posted March 2, 2008 Share Posted March 2, 2008 Reading another blogg (football) one punter suggested that house prices are going to crash the scathing critisim and ridicule he received was amazing. It would seem most of the contributors are under 40 and have no concept of negative equity, some people are in for a hell of a shock. Quote Link to comment Share on other sites More sharing options...
jez123 Posted March 2, 2008 Share Posted March 2, 2008 I am really starting to believe that i am living in the matrix We all are Except cgnao. Cgnao is here to free us Quote Link to comment Share on other sites More sharing options...
eric pebble Posted March 2, 2008 Share Posted March 2, 2008 I am really starting to believe that i am living in the matrix Did you mention that vast numbers of people have taken out LIAR LOANS/LIED-TO-BUY to "afford" to "buy" property in the last decade...? This factor has driven "prices" up right across the UK -- simply because "prices" are set by COMPARATIVES - i.e. Buyer X goes to locality Y - takes out a LIAR LOAN - i.e. pretends he "earns" £100k pa -- then "buys" property for £400k -- when in fact he "earns" £42k pa at best. Within weeks -- ALL PROPERTY PRICES IN LOCALITY Y are set so that ALL COMPARATIVE PROPERTIES are "worth" £xyz in comparison to £400k paid for Property X ---- i.e. The Rotten Apples who take out LIAR LOANS COMPARATIVELY INFECT "PRICES" of ALL PROPERTIES IN THE WHOLE LOCALITY/COUNTY/UK -- and so "prices" go up 300%+ in 10 years --- just as they have!!!! Quote Link to comment Share on other sites More sharing options...
Guest barebear Posted March 2, 2008 Share Posted March 2, 2008 Did you mention that vast numbers of people have taken out LIAR LOANS/LIED-TO-BUY to "afford" to "buy" property in the last decade...? This factor has driven "prices" up right across the UK -- simply because "prices" are set by COMPARATIVES - i.e. Buyer X goes to locality Y - takes out a LIAR LOAN - i.e. pretends he "earns" £100k pa -- then "buys" property for £400k -- when in fact he "earns" £42k pa at best. Within weeks -- ALL PROPERTY PRICES IN LOCALITY Y are set so that ALL COMPARATIVE PROPERTIES are "worth" £xyz in comparison to £400k paid for Property X ---- i.e. The Rotten Apples who take out LIAR LOANS COMPARATIVELY INFECT "PRICES" of ALL PROPERTIES IN THE WHOLE LOCALITY/COUNTY/UK -- and so "prices" go up 300%+ in 10 years --- just as they have!!!! Yep this boom would have been over years ago when they ran out of the legit borrowers. I feel it may have been about 30% ago or around late 2004. Now we've all got to pay so the market can readjust itself by whatever means,credit crunch, stagnation ,crash or whatever. Quote Link to comment Share on other sites More sharing options...
Mickeysoft Posted March 2, 2008 Share Posted March 2, 2008 Did you mention that vast numbers of people have taken out LIAR LOANS/LIED-TO-BUY to "afford" to "buy" property in the last decade...? This factor has driven "prices" up right across the UK -- simply because "prices" are set by COMPARATIVES - i.e. Buyer X goes to locality Y - takes out a LIAR LOAN - i.e. pretends he "earns" £100k pa -- then "buys" property for £400k -- when in fact he "earns" £42k pa at best. Within weeks -- ALL PROPERTY PRICES IN LOCALITY Y are set so that ALL COMPARATIVE PROPERTIES are "worth" £xyz in comparison to £400k paid for Property X ---- i.e. The Rotten Apples who take out LIAR LOANS COMPARATIVELY INFECT "PRICES" of ALL PROPERTIES IN THE WHOLE LOCALITY/COUNTY/UK -- and so "prices" go up 300%+ in 10 years --- just as they have!!!! Easy up, easy down? EA's will use the 'current owner paid xxx more' as a selling point. Back down we go (with a little push and dig in the sellers ribs by the killer margin call). Game over once the money dries up Quote Link to comment Share on other sites More sharing options...
Fortune Posted March 2, 2008 Share Posted March 2, 2008 Wasn't it Morpheus who said that some minds just cannot let go - these minds would not be able to cope outside of the matrix. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 2, 2008 Share Posted March 2, 2008 Stand you're ground. Tell the how it is. I have. They start in denial but when you continually shoot down their arguments and counter every argument with facts they start to change their view, slowly but surely.Eventually you sounds like a guru because everything you say comes true and gets back up in the media. Be a HPC disciple, preach and convert. Quote Link to comment Share on other sites More sharing options...
barrabus Posted March 2, 2008 Share Posted March 2, 2008 Sometimes its best not to talk about economics with people who don't even understand the most basic concepts. My sister is also economically illiterate, its funny how they imagine just because they have an opinion then it automatically become a valid opinion. They just don't understand the difference between informed opinion and an uninformed opinion and it will cost them a lot of money and pain before this is over.If you try to dumb it down to explain the situation to them, they will pick holes in your position because you dumbed it down, yet if you try to explain it properly their eyes glaze over when you use the correct terminology and attempt to explain concepts that are completely unknown to them. If you lived in the 16th century and you knew the earth was round it would be better if you kept your opinion to yourself. Most of the bewildered herd are conditioned to believe necessary illusions that are often repeated over and over in the media (house prices only go up) and any concept or argument that falls outside of these accepted truths is completely dismissed or even aggressively attacked because it falls outside of their narrow view of the world. **** so what is the answer enstien Quote Link to comment Share on other sites More sharing options...
beans on toast Posted March 2, 2008 Share Posted March 2, 2008 Spoke with my boss, completely in denial, said there would be a slowdown and then things will pick up again.Same arguments regarding peak oil and gas, these people look outside at there nice car, drive to Tesco and actually believe that this way of life can continue for ever. I am really starting to believe that i am living in the matrix We're entering a paradigm shift. Its going to be a hell of a ride. Banks are getting clobbered and the recession hasn't even started. Inflation is soaring and its going to keep on going higher for a long time yet. Quote Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted March 2, 2008 Share Posted March 2, 2008 Wasn't it Morpheus who said that some minds just cannot let go - these minds would not be able to cope outside of the matrix. Yeah, but it was Agent Smith who sais that humans define their reality through misery and suffering. Negative equity and unemployment should provide plenty of that. Quote Link to comment Share on other sites More sharing options...
Guest barebear Posted March 2, 2008 Share Posted March 2, 2008 **** so what is the answer enstien The answer, maybe. is to be as thick and ignorant as the thickest and most ignorant. Ignorance is bliss. Quote Link to comment Share on other sites More sharing options...
jez123 Posted March 3, 2008 Share Posted March 3, 2008 The answer, maybe. is to be as thick and ignorant as the thickest and most ignorant. Ignorance is bliss. Ah I see... you want to get put back into the matrix Quote Link to comment Share on other sites More sharing options...
homeless Posted March 3, 2008 Share Posted March 3, 2008 Wasn't it Morpheus who said that some minds just cannot let go - these minds would not be able to cope outside of the matrix. he also said that not only did they not want to know, but they would infact be enemies of them that did want to leave the matrix. i believe many here have been attacked, scorned, laughed at, been accused of jealousy, abandoned by friends for even suggesting, treated like a weirdo, called a doom-monger, told you are not very bright, pitied, ignored, harrased, cajouled, left alone like a leper and told to get a life yup the public dont want to know the truth, and will do everything to stop you telling it. Quote Link to comment Share on other sites More sharing options...
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