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Bubble Pricker

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Hi everybody! I've been lurking for 6 months. Exchanged contracts two days before Christmas so now I can join the party.

My house is in Stratford at the epicenter of the BTL boom. It was a lady studying Piano who started buying up houses and renting them out.

As far as I remember the Guardian picked up the story and published an article about the BTL phenonema. Within 10 years my nice community of working class owner occupiers was gone, replaced by a gangster paradise.

Looking forward to watching the whole Nu Labour project crash and burn along with house prices. I almost feel like sending the young gentlemen who drove me out of my house at kifepoint a nice thankyou letter for helping me to make the right decision. Maybe they were not the gangstas I thought they were but part-time volunteer economists with my best interests at heart.

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Hello all,

I've been lurking for a month or so, and am interested even though I don't own a house! I'm 23 and still a student, so I couldn't have a house, but I've managed to persuade my parents to sell sell sell their house, and it should go on the market tomorrow. They have a (valued at) 500K house in West Oxfordshire with about a 50K mortgage ("offset"). They were going to sell in about a year, but I got them to speed it up (based on this website more than anything).

I don't know if they'll be able to sell, but I'll post on anecdotals to say how it's going...

p.s. I'm trying to get them to go multi-agency as quickly as possible, is it worth it? Or is just cutting the asking price by 5K a better option?

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Greetings.

I stumbled across the site via a google search and found it to be really interesting so after a few days lurking I've decided to join up.

My family and I currently reside in a three bedroomed terraced house in the north west. My wife got stung in the early 90's with negative equity, she paid the morgage on a house for 11 years and when she sold it she recouped a whopping £1000 after paying off the outstanding morgage debt. The couple who bought it off her sold it two years later for a £25,000 profit!

Oh well, you live and learn . . . .

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Hello all,

Thought it was about time I signed up and introduced myself.

I'm 30 years old and currently living in Cheltenham - renting of course!

Graduated University in Mechanical Engineering in 1998

Bought a 1 bed flat in Cheltenham in the Montpellier area in 1999 for £59000

Spent about £7000 renovating it and sold it for £113000 in 2000 when I moved to London

Cleared all my university debts with the profit, and saved the remainder for a deposit to buy again sometime

Took a pay cut to advance my career so couldn't afford to buy anywhere

Moved back to Cheltenham in 2002 (for a pay rise this time) but the market have moved on so much that time I thought the HPC was imminent

Joined the FT House Price Forum around that time, which was later withdrawn

Found this site sometime in 2004 have been lurking ever since

Finally became a member, and this is my first post :)

Have been banging the HPC drum since 2002, almost lost faith a few times, but this forum helped me keep on the straight and narrow - thank you !!!

Its nice to finally be right, even if it took 5+ years

Friends are now asking me for advice on buying and selling like i'm some sort of property guru - I just given them a gentle nudge them in the direction of this forum

Looking forward to discussing how far / how fast, and when the market has bottomed and its a good time to buy again.

Can't wait to finally use that deposit which I've been saving for 6 years...

Lloydie

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Hi,

I have been reading (lurking upon?) this site for about two weeks now and decided to join since I found laughing my head off at the descriptions of EAs, DamianLSmith, people arguing about whether there is a God or not (as if??), and the general mix of real insight into house prices to come and random nonsense about almost anything.

I am in my mid-30s, have always rented, never really planned on buying a house ever until recently when I thought I might as well. Currently rent a flat. I probably arrived at this site already wanting to belive that house prices will fall so I can buy one more cheaply but have been pleasantly surprised by the backing provided for opinions that I wanted to read. I knew the site might house more than a normal curve's worth of nutters but these nutters know their stuff. Also it may provide an arms-length way of debating with Daily Mail readers since there seem to be no limit on the political views you can hold here. They can hate everyone and I can despise them for it. And we can talk about why.

I live in Poole (lovely place but really expensive) so I could really do with them falling as far as they want. I fully intend this site to be my guide as to when the market is bottoming out. Can you believe that I went in to discuss with an EA what the best thing to do would be about 3 months ago?!!!!! Only my perseverance with my weekend policy of "doing sod all" prevented me looking at flats ready to make an offer. I won't bore you with the details but they had a slightly different take on the bhole house price thing!!

I have always known that despite a degree in Economics - I really did not understand it that thoroughly. I comforted myself witht the thought that this macro economy crap is much too pissing complicated and involved to really understood by anyone. How wrong I was!! Having read the articles and (usually) logical responses I now know that a) I know **** all B) Some people do, at the very least, give the impression of having a grasp of how the whole thing works.

I am going to force myself to contribute/challenge despite the fear that I may on accasion simply be about to show how ignorant I am.

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Oh. Was I supposed to post here first? :D

29 years of age, lived in Germany for five years after university then moved to London last year due to a combination of work and lurve, for want of a better description. I've never owned in either country, more through circumstance than lack of desire (frequent relocations, no plans to live abroad long-term, etc.), but will be looking to move outside the capital - possibly back "home" (namely the north-east) - when the better half is done with uni this summer and settle down somewhere, so more than happy to stumble across this place as one way of getting (re)acquainted with the British property market and future HP trends from various POVs. These are interesting times, particularly for a potential first-time buyer, so right now I just intend to lurk and absorb.

That's all. :)

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Hello. Another ex-lurker here. I am 31 and despite being good with money and having no debts I can't see myself ever being able to get on the property ladder as I earn less than the average wage. Blah blah blah etc... I'm sure that is the story of half the people on here! I'm feeling slightly better about not being on the property ladder at the moment as I currently have lots of friends panicking 'cause their fixed-term mortgage offers have come to an end.

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Hello to everyone at HPC

My first post after watching this web site for what must be at least a couple of years.

33 based in the south west Self Employed Renting. Ive been a big BEAR from 02 once the price/earing ratio started to get silly, Ive stuck to my guns from a resonable grasp of Economics and advice from non VI people including Andrew Osworld Head of Economics at Warwick.

My poor new wife has stuck to my theories although not understanding it and her family thinking I should be locked up, as the first thing you do in life is get your foot on the ladder at any cost. They did and it worked for them!

Im saving like a trooper and of course feel/know the market will fall back to an undervalued asset just as others have dot coms,gold,property before. People throughout history (crowds) always get it wrong South sea bubble, Tulips etc etc, this time will of course be no different.

Yes the country (The western world) has lost control and the debt crisis will bring the party to an end. The problem will not be that houses wont fall back to the price earning ratio (they always have/will) it will the deverstation that it causes.(my business inc) The UK might be difficult to earn any living here even if houses are half price. Hence why cash will I feel will become king once again!

The site needs a big pat on the back the likes of Dr Bubb etc have kept me from going potty at times when I have thought Ive made the biggest mistake in my life.

Thanks to you all "it been an experience"

I watch with great interest.

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Guest grumpy-old-man
Hello all,

Thought it was about time I signed up and introduced myself.

I'm 30 years old and currently living in Cheltenham - renting of course!

Graduated University in Mechanical Engineering in 1998

Bought a 1 bed flat in Cheltenham in the Montpellier area in 1999 for £59000

Spent about £7000 renovating it and sold it for £113000 in 2000 when I moved to London

Cleared all my university debts with the profit, and saved the remainder for a deposit to buy again sometime

Took a pay cut to advance my career so couldn't afford to buy anywhere

Moved back to Cheltenham in 2002 (for a pay rise this time) but the market have moved on so much that time I thought the HPC was imminent

Joined the FT House Price Forum around that time, which was later withdrawn

Found this site sometime in 2004 have been lurking ever since

Finally became a member, and this is my first post :)

Have been banging the HPC drum since 2002, almost lost faith a few times, but this forum helped me keep on the straight and narrow - thank you !!!

Its nice to finally be right, even if it took 5+ years

Friends are now asking me for advice on buying and selling like i'm some sort of property guru - I just given them a gentle nudge them in the direction of this forum

Looking forward to discussing how far / how fast, and when the market has bottomed and its a good time to buy again.

Can't wait to finally use that deposit which I've been saving for 6 years...

Lloydie

Hi Lloydie,

welcome to the site. :)

thanks for the background info.

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Guest grumpy-old-man
Hello to everyone at HPC

My first post after watching this web site for what must be at least a couple of years.

33 based in the south west Self Employed Renting. Ive been a big BEAR from 02 once the price/earing ratio started to get silly, Ive stuck to my guns from a resonable grasp of Economics and advice from non VI people including Andrew Osworld Head of Economics at Warwick.

My poor new wife has stuck to my theories although not understanding it and her family thinking I should be locked up, as the first thing you do in life is get your foot on the ladder at any cost. They did and it worked for them!

Im saving like a trooper and of course feel/know the market will fall back to an undervalued asset just as others have dot coms,gold,property before. People throughout history (crowds) always get it wrong South sea bubble, Tulips etc etc, this time will of course be no different.

Yes the country (The western world) has lost control and the debt crisis will bring the party to an end. The problem will not be that houses wont fall back to the price earning ratio (they always have/will) it will the deverstation that it causes.(my business inc) The UK might be difficult to earn any living here even if houses are half price. Hence why cash will I feel will become king once again!

The site needs a big pat on the back the likes of Dr Bubb etc have kept me from going potty at times when I have thought Ive made the biggest mistake in my life.

Thanks to you all "it been an experience"

I watch with great interest.

Hi pele, welcome also. :)

I know what you mean about the sanity check (re the Dr Bubb reference), Mrs GOM has questioned me many a time telling me I might have got it wrong. Those women have very, very strong nesting instincts & don't like to be without a home.

ps -is you name based on the footballer or the mma fighter ? I assume the footballer. :rolleyes:

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Guest grumpy-old-man

Also welcome to meenzer & loopy. :)

a good question for either of you to post about would be:

do you think we will have deflation or stagflation/hyper-inflation. ;)

or

is GOLD a good investment rather than keeping the cash in the bank. ;)

hope you have been following some of the banter on these subjects.

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Guest grumpy-old-man
Hi, not really a new member dispite my low post count. only posting here to push the thread length from 666 posts to 667:)

Hi anon,

a religious sort of post then ? :D

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Hi pele, welcome also. :)

I know what you mean about the sanity check (re the Dr Bubb reference), Mrs GOM has questioned me many a time telling me I might have got it wrong. Those women have very, very strong nesting instincts & don't like to be without a home.

ps -is you name based on the footballer or the mma fighter ? I assume the footballer. :rolleyes:

Thanks for replying

Im sure lots out there have had a few arguments Ref: Nesting

My name is the footballer but only because his book is by the computer when I had to think of a name.

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Guest grumpy-old-man
Thanks for replying

Im sure lots out there have had a few arguments Ref: Nesting

My name is the footballer but only because his book is by the computer when I had to think of a name.

ah, ok Pele, no probs.

all newbies,

don't be afraid to ask questions on the threads, no matter how daft you think they sound. That's how I started. :)

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New member here. Thankfully mortgage free, paid off several years ago. Thanks to my age I came into the market when prices were affordable. However my 2 daughters are struggling, one is buying her flat on her own, other daughter rents with no prospect of buying until prices come down by 50%.

Live in Northampton, am very concerned with the decline of the town and ironically the unrelenting growth of new housing. Who can afford to buy?

If not careful Northampton will become the poor relation of nearby MK (it probably is already).

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Guest grumpy-old-man
New member here. Thankfully mortgage free, paid off several years ago. Thanks to my age I came into the market when prices were affordable. However my 2 daughters are struggling, one is buying her flat on her own, other daughter rents with no prospect of buying until prices come down by 50%.

Live in Northampton, am very concerned with the decline of the town and ironically the unrelenting growth of new housing. Who can afford to buy?

If not careful Northampton will become the poor relation of nearby MK (it probably is already).

interesting name Mr Huge. ;)

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Bought a 1 bed flat in Cheltenham in the Montpellier area in 1999 for £59000

Greetings Lloydie.

To my mind the Montpellier area is one of Cheltenhams finest. Do you regret moving out in the first place?

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Hi,

New here - but long time reader of the site.

I'm 21. My parents always taught me the value of money from a very young age.

Got married 1.5 years ago, and despite advice from this site bought a house last year with my wife. It's a 2 bed semi, but we only paid 2 times my salary for it. We're on course to be mortgage free in 5 years, if my pay remains the same, or quicker if my pay improves. If the prices crash, which I'm now pretty sure they will, does anybody think it will be more than the 30% predicted on this site?

We can afford for them to crash upto 50%; but anymore would make me a bit upset!!

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I’ve been lurking at the back of the cave for a while now. Time to come out into the light.

FTB in 1995, traded up in 2000 and sold in April 2007. Went into the rented accom and temporarily deposited equity in high interest account whilst I looked for the next cave. Becoming increasingly concerned that I’d fallen off the ladder and that even with my HPI gains and earnings form 5 years of ex-pat slogging, I could not get a decent cave for the wife & kids. The mainstream media and "more commercially enlightened" colleagues and friends with expanding BTL portfolios enhanced my growing concern that I had blighted my future wealth by stepping off the ladder.

But then the epiphany. All my worldly savings were in the Northern Rock. I watched the queues grow, but initially kept calm as I understood that there where guarantees for depositors, but nevertheless started some research. Research completed, I hurriedly closed the account and distributed it amongst 6 others. Naturally my research expanded and this inevitably lead me to HPC.

So by the looks of things, and by happy accident rather than design, I’ve (so-far) benefited from the HPI rollercoaster, but I was very close to being one of the increasingly worried looking recently up-sized & stretched punters that now appear to be in the latter stages of the denial phase.

Future: I’ve had enough of the expense & the weather so I’m off overseas again (for ~3 years). In the meantime I’m looking into diversifying my savings. I’ll come back and pick through the wreckage at some point, but by the looks of things that’s not going to be very soon.

PS Can anyone recommend a good accountant who specialises in ex-pat work?

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Yowsers!

And not only all that, you have a coterie of attractive female sleuths who are inexplicably drawn to your hairy, phallus-shaped body and mindless outbursts.

I salute and congratulate you as one of the winners in this minging debacle.

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  • 294 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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