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Hello,

Just to say hello as a new member lodging in the Cambridgeshire area in my early 30's. Been reading this forum for a while and find it interesting to get an alternative viewpoint largely missing from the mainstream media. I thought I would register now we see S24 and brexit getting closer and the rise of popularism mean ing people like me cannot be ignored (because we vote too!). Full disclosure: I have no house but had been looking to buy late 2014- mid 2015 unfortunately just as this part of cambridgeshire took off in price. No sadly disillusioned with a society that sees this as an acceptable way to treat its younger generation.

Mr Banks (no relation to my job just a character from Mary Poppins)

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Welcome all new and old lurkers.

One of the liveliest and most informative forums about of course house prices, but general economics and politics. Hopefully less of an echo chamber than most places - except for all of us wanting or seeing house prices tank.

Well done.

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Hi,

I've been following HPC for a little while, a few months, but I jumped in an am going to enjoy this.

I like to refer to myself as a social landlord, I live in cheap rented accom in Dar-set but I have a small portfolio of low end properties in the North East in which I have vowed to only charge the LHA rates even to private individuals, and if they cant afford that, then I am happy to sit with them and work through their budget and find something that is affordable.

I am a programmer by profession in London and but I can't afford to buy a place in my home town due to Bournemouth being one of the top ten most expensive places in the universe.

I would love to see a massive HPC to see those ignorant, self righteous 118's cowering in the corner. I would also like to see an HPC because I recently got married and I have pledged to buy a modest place for my wife and I to live in.

so Hiya :-)

PS, I despise racism, so if anyone wants to rant on about "it's because of immigration" or anything of the like, I will not be best pleased, and I have a habit of reporting racists to the police!

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I've been lurking on this site for years but thought I should really post something in here to introduce myself.

I genuinely believe this site has kept me sane over the past few years. I'm in West Sussex and so slap bang in the middle of insane house price central.

Everyone I know (and I mean literally everyone, friends, family, and even to a certain extent my other half) believe I am a fantasist and that my views on house prices and the issues surrounding it are some kind of bizarre anti establishment thing.

Currently I tell people with a straight face that I'm waiting for the apocalypse before I buy. They usually just laugh... Sometimes they try to trot out the same old crap but quickly realise that I understand the situation better than they do.

My view is that when credit is cheap is the time to be building up savings and not borrowing. I run my own business and am doing all I can to build up my balance sheet. I've got literally zero debt.

I really hope something changes in this country but I have to say that as I watch the white paper on housing being announced today it's dawning on me that literally everything will be done to protect the mad gainz. I wonder how many politicians are sat on big housing equity?

 

 

 

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4 hours ago, ST675R said:

I've been lurking on this site for years but thought I should really post something in here to introduce myself.

I genuinely believe this site has kept me sane over the past few years. I'm in West Sussex and so slap bang in the middle of insane house price central.

Everyone I know (and I mean literally everyone, friends, family, and even to a certain extent my other half) believe I am a fantasist and that my views on house prices and the issues surrounding it are some kind of bizarre anti establishment thing.

Currently I tell people with a straight face that I'm waiting for the apocalypse before I buy. They usually just laugh... Sometimes they try to trot out the same old crap but quickly realise that I understand the situation better than they do.

My view is that when credit is cheap is the time to be building up savings and not borrowing. I run my own business and am doing all I can to build up my balance sheet. I've got literally zero debt.

I really hope something changes in this country but I have to say that as I watch the white paper on housing being announced today it's dawning on me that literally everything will be done to protect the mad gainz. I wonder how many politicians are sat on big housing equity?

Welcome!

Over the years I've found that the easiest way to deal with the "why don't you buy / when will you buy" questions is to simply reply that I'll buy when houses represent good value to me. That automatically sets up the conversation as non-confrontational at the same time as forcing them to concede that what they think is right for them isn't necessarily what's right for me. I find people are far more apt to actually listen to what I have to say then, because I'm essentially stating, "I'm not like you are so I'm not knocking what you've done."

So many people are 110% financially and emotionally invested in houses that any perceived threat to their beloved HPI is like a direct insult on the looks of their other half. Take the dicks in this BBC article from today - poor schmucks are all talking as if they've climbed the mountain and all they have to do now is breeze down the other side of it. In 300 year emergency low interest rates, with government props left right and centre. One of them even says that the saving was stressful, or something like that - as if the next 25 years are going to be a piece of piss:

http://www.bbc.co.uk/news/uk-38564137

Ref the white paper, just keep in mind that the govt are never going to come out and say "You're right, it's all ******ed, batten down the hatches!". I'm not saying they're going to promote a crash but I'm also not convinced they're going to prevent one. And that's assuming they have any say in it anyway.

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On 07/02/2017 at 5:58 PM, Fully Detached said:

I'm not saying they're going to promote a crash but I'm also not convinced they're going to prevent one. And that's assuming they have any say in it anyway.

This is a really succinct push back against the idea that "the government will never let house prices fall".

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On 2/8/2017 at 9:08 PM, Bland Unsight said:

This is a really succinct push back against the idea that "the government will never let house prices fall".

Interesting to note if only because of the dates involved that the last time the govt lost control of sterling and thus interest rates was only 25 years ago on Black Weds. So the current "buy at any price, the govt's got your back" brigade are pinning their hopes on the govt/BoE managing to stay in control for another 25 years in order for them to comfortably see out their mortgage term. Given that >15 of those last 25 years have been spent building a gigantic credit bubble, and given the current geopolitical climate, it's something of an understatement to say that I wouldn't share their confidence in that little wager.

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Hi

Long time lurker. Just passed my mid 30s been waiting since forever. TBH I'm even giving thoughts of moving back to Busan. I moved here with my dad in the 1990s. The £400 per sqft in Seoul seems cheap compared to the craziness that is London.

 

Moving North hasn't really helped as any place I look at seems to go up much faster than I can save. Even as a middling salary earner where there is massive unemployment where £25K is a fortune to many people everything seems to inflate out of my reach within a few months.

 

I'm mostly here wondering what on earth I should do.

 

So hello.

 

 

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I joined as I saw this site a few months ago where suggestions were made about where to earn the highest interest rate on cash savings

I can not see that section?

I was prompted to joint mainly though as I have a SIPP with £650k in it and a Final Salary scheme with a transfer value of £30,650

and I need an IFA is I wish to transfer it into a SIPP

I have called several IFAs and they seem to purposely confuse you but finally foung one who would charge me £1,250 this seems the best available

I am still paying into my SIPP as I consider it the best place to put my money

Anywhere please direct me to where I can ask about IFA's fees etc

I tried MSE and the people who got back to me reminded me of the woofers and tweaters sketch from not the nine oclock news 

 

 

 

 

 

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Hi, just introducing myself.  I am 48 and caught in the endless dilemma of "should I, shouldn't I?" right now.  It's not that I can't buy anything at all,  it's that fundamental belief that what we are seeing right now simply cannot continue.  Only it is and has been and quite probably will do.  Since lurking on this forum I have learned more about the horrific, corrupt economy that we live in that I could ever have wanted to and now I just feel so sad and hopeless for everyone, not just sorry for myself.  Because this sort of stuff matters to me now, I have educated myself, but it makes me sad.  I am potentially about to gamble everything I have worked for in the past for my deposit and my financial future right up to my retirement on the mortgage I will also need.  All to buy a tiny, tiny house in the totally wrecked home counties.  Or my other choice is to move to somewhere where I know absolutely nobody, just because I will be able to afford a roof over my head.  It's totally criminal.   When I tell my ivory-towered home-owning friends what it is like out here in the cold they just don't get it.  Most of them don't even know the name Mark Carney or understand the true evil that is Quantative Easing.  I really wish I didn't know about it either, to be honest.

I'm desperate for Section 24 to bring about an end to the misery, but I'm so demoralised right now that I actually think that it won't.

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On 3/11/2017 at 4:55 PM, stop_the_craziness said:

Hi, just introducing myself.  I am 48 and caught in the endless dilemma of "should I, shouldn't I?" right now.  It's not that I can't buy anything at all,  it's that fundamental belief that what we are seeing right now simply cannot continue.  Only it is and has been and quite probably will do.  Since lurking on this forum I have learned more about the horrific, corrupt economy that we live in that I could ever have wanted to and now I just feel so sad and hopeless for everyone, not just sorry for myself.  Because this sort of stuff matters to me now, I have educated myself, but it makes me sad.  I am potentially about to gamble everything I have worked for in the past for my deposit and my financial future right up to my retirement on the mortgage I will also need.  All to buy a tiny, tiny house in the totally wrecked home counties.  Or my other choice is to move to somewhere where I know absolutely nobody, just because I will be able to afford a roof over my head.  It's totally criminal.   When I tell my ivory-towered home-owning friends what it is like out here in the cold they just don't get it.  Most of them don't even know the name Mark Carney or understand the true evil that is Quantative Easing.  I really wish I didn't know about it either, to be honest.

I'm desperate for Section 24 to bring about an end to the misery, but I'm so demoralised right now that I actually think that it won't.

Half of any battle is knowing what is happening.

If people knew what was happening they wouldn't stand for it.

Well done. Spread the word.

This place has taught me alot. Thank god for the different posts, different views and the Internet for allowing us a place to discuss Economics/Politics/Money/Asset prices.

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Oh I have just seen this I am new have been reading for years and praying for change and am also a bit demoralised although more hopeful than I have been in years

I posted in Anecdotals as I work for a property maintenance company so have an eye on the rental market mainly although we watch sales as the business depends on them!

There are many changes atm and volumes definitely down and BTL landlords selling up fast here I am in brighton in East Sussex

 

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On 11/03/2017 at 4:55 PM, stop_the_craziness said:

Hi, just introducing myself.  I am 48 and caught in the endless dilemma of "should I, shouldn't I?" right now.  It's not that I can't buy anything at all,  it's that fundamental belief that what we are seeing right now simply cannot continue.  Only it is and has been and quite probably will do.  Since lurking on this forum I have learned more about the horrific, corrupt economy that we live in that I could ever have wanted to and now I just feel so sad and hopeless for everyone, not just sorry for myself.  Because this sort of stuff matters to me now, I have educated myself, but it makes me sad.  I am potentially about to gamble everything I have worked for in the past for my deposit and my financial future right up to my retirement on the mortgage I will also need.  All to buy a tiny, tiny house in the totally wrecked home counties.  Or my other choice is to move to somewhere where I know absolutely nobody, just because I will be able to afford a roof over my head.  It's totally criminal.   When I tell my ivory-towered home-owning friends what it is like out here in the cold they just don't get it.  Most of them don't even know the name Mark Carney or understand the true evil that is Quantative Easing.  I really wish I didn't know about it either, to be honest.

I'm desperate for Section 24 to bring about an end to the misery, but I'm so demoralised right now that I actually think that it won't.

I'm not a new member but wanted to let you know I feel the same. Also in the SE and fed up with the lack of empathy from those a few years older who are fine and therefore don't care. They can't see that this will be a massive problem for their children if nothing changes. The move up North solution doesn't work when you consider that teachers and nurses are needed in the SE too - where are they meant to live? The greed, incompetence, and recklessness of the banks and government make me incredibly angry and sad and with FPTP few ways of demonstrating this. Only hope is Brexit and S24 may shake things up and a growing angry young population. Keeping an eye on what we could afford in our area and it really brings home how devalued our labour is against the HPI; a lifetime of 2 people working highly skilled jobs is nothing vs prices jumping from 200k to 450k in less than a decade. 

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On 04/04/2017 at 10:44 AM, lovepigeon said:

 The move up North solution doesn't work when you consider that teachers and nurses are needed in the SE too - where are they meant to live? . 

Absolutely. Also if you have family, friends and built community relations why should you be forced to go elsewhere just to buy a home.

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On 3/13/2017 at 4:32 PM, Tapori said:

Half of any battle is knowing what is happening.

If people knew what was happening they wouldn't stand for it.

Well done. Spread the word.

This place has taught me alot. Thank god for the different posts, different views and the Internet for allowing us a place to discuss Economics/Politics/Money/Asset prices.

Huh?  There are millions of massive winners in all this who don't care for those carrying the weight of housing financialisation and so on.

All-about-me.

More like they wouldn't stand for any threat to their HPI.  

Helped an elderly couple out a few years ago (bit of DIY) and they told me what they bought it for and what it was worth.   When I mentioned I was holding off to buy until prices fell back.... "I can't see that happening."   Bought with a mortgage of £5Kish in the 50s to what-it-is-worth £420K+ today.

On 4/4/2017 at 10:44 AM, lovepigeon said:

I'm not a new member but wanted to let you know I feel the same. Also in the SE and fed up with the lack of empathy from those a few years older who are fine and therefore don't care. They can't see that this will be a massive problem for their children if nothing changes. The move up North solution doesn't work when you consider that teachers and nurses are needed in the SE too - where are they meant to live? The greed, incompetence, and recklessness of the banks and government make me incredibly angry and sad and with FPTP few ways of demonstrating this. Only hope is Brexit and S24 may shake things up and a growing angry young population. Keeping an eye on what we could afford in our area and it really brings home how devalued our labour is against the HPI; a lifetime of 2 people working highly skilled jobs is nothing vs prices jumping from 200k to 450k in less than a decade. 

 

Individuals all see the world in their own way.   It's difficult for some to see it as others see it, when there are powerful vested-interest involved.

 Reasoning/explanations doesn't change minds when there is big winning VI involved.  Only the brunt of market change can eventually force it.

Quote

 

An existing paradigm is seldom dispelled by evidence alone. As Keith Thomas has written, "Such systems of belief possess a resilience which makes them virtually immune to external argument."

A people whose culture grossly misinterprets certain facts will not necessarily reason their way to a more encompassing worldview until forced to do so by the brunt of economic necessity or military defeat. Reason does not alter values.

 

BTLelegraph the other day was going into a tizzy about an older homeowning woman (housewife all her life) who faced paying tax for the first time.  

Set to have tax-liability of £1,000 per year from her dividends in shares.   Had inheritances along the way in her life.   Only experience with tax-system being tax-rebates.  'I will now have to remember to set aside some money for this.'   Her plight.  BTLelegraph working out ways to minimise her £1K tax liability going foward.  

Quote

 

Two people have mentioned "greed" but I doubt if Mrs Scott is aware that it looks like that to most of the rest of us. She has been living in a different world and has taken her state of wealth for granted. Evidently she is completely unaware of what the rest of society has to cope with. There are greedy people but they know what they're doing and they can't stop doing it.

Instead of helping her to reduce her obligation, The Telegraph should be pointing out what a fortunate position she is in.   Do the Money staff have no sense of right and wrong and want the Government to raise its revenue only from those whom Mrs May calls "just about managing"?

Meanwhile, Mrs Scott will continue to get her public services essentially free of charge, even if she needs an expensive operation. At the same age, I feel guilty about my occasional use of the health service, although I've been paying income tax for almost 60 years.

 

Quote

 

Poor Mrs Scott. However will she manage with a portfolio of £750,000

She now says she will need to be careful with her spending.

Sorry Mrs Scott when you go the tax man will have his share.

For God sake do something useful with it. Help people in real need.

Greed that is what this is about .

 

 

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Thanks to those who have replied to me on here with support, it's a funny old time isn't it?

The more I read this forum the more I feel I don't know anything about anything any more.  Even if (IF) prices start to come down, I still won't be sure what's "good value" any more and the more I read about how seemingly good mortgages are actually back-loaded money-traps, the more I feel that me and my money could so easily be taken for a ride because a house may become "affordable" to me in the future, but may still be a "bad deal" at the same time.

I literally don't know where proper, sensible advice comes from these days - the whole world seems to be smoke and mirrors and I really hate that feeling.

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19 hours ago, stop_the_craziness said:

Thanks to those who have replied to me on here with support, it's a funny old time isn't it?

The more I read this forum the more I feel I don't know anything about anything any more.  Even if (IF) prices start to come down, I still won't be sure what's "good value" any more and the more I read about how seemingly good mortgages are actually back-loaded money-traps, the more I feel that me and my money could so easily be taken for a ride because a house may become "affordable" to me in the future, but may still be a "bad deal" at the same time.

I literally don't know where proper, sensible advice comes from these days - the whole world seems to be smoke and mirrors and I really hate that feeling.

Enjoy it while you can as one day the Internet will cease to offer alternative information.

Sponsored by OmniCorp.

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On 22/04/2017 at 11:01 AM, stop_the_craziness said:

Thanks to those who have replied to me on here with support, it's a funny old time isn't it?

The more I read this forum the more I feel I don't know anything about anything any more.  Even if (IF) prices start to come down, I still won't be sure what's "good value" any more and the more I read about how seemingly good mortgages are actually back-loaded money-traps, the more I feel that me and my money could so easily be taken for a ride because a house may become "affordable" to me in the future, but may still be a "bad deal" at the same time.

I literally don't know where proper, sensible advice comes from these days - the whole world seems to be smoke and mirrors and I really hate that feeling.

You need to figure out what is "good value" to you, that's what I'm basing decisions on. At the moment I want a 15% drop in an Outer London Borough and then I will start booking viewings in earnest rather than half heartedly scrolling through a pile of shite on RM. At that level I'd be happy with what we are borrowing and what our repayments would be, and every month in the meantime the deposit (or negative equity barrier should the market keep falling) is added to.

If the fall doesn't happen then... well, let's stay positive shall we?!

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I have never seen a class so deeply demoralised, so incurably debased by selfishness, so corroded within, so incapable of progress, as the English BTLer. For it nothing exists in this world, except for the sake of money, itself not excluded. It knows no bliss save that of rapid gain, no pain save that of losing gold. In the presence of this avarice and lust of gain, it is not possible for a single human sentiment or opinion to remain untainted.

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59 minutes ago, Kosmin said:

I have never seen a class so deeply demoralised, so incurably debased by selfishness, so corroded within, so incapable of progress, as the English BTLer. For it nothing exists in this world, except for the sake of money, itself not excluded. It knows no bliss save that of rapid gain, no pain save that of losing gold. In the presence of this avarice and lust of gain, it is not possible for a single human sentiment or opinion to remain untainted.

You're trying too hard for a first post :D

 

My name is Kosmin and I don't like my landlord would have sufficed. 

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