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HOLA441
5 minutes ago, mjn said:

Continued.because I write at such length on this topic the message becomes to long to send and gets lost in the digital world so I will carry on. when we had the 2008 crash the BOE and the government in power would say we have to protect previous first time buyers from negative equity when really they are looking after there vested interests and the BOE had to use QE to save the banks so the 2008 crash didn't play out fully like theĀ  early 1990s and governments have more levers to use if house prices crash . I thought it would have been worser then the 90s crash but it got stopped in it's tracks. I am not getting any younger either so I have to watch my age has well has my money and one last word don't lose hope it cannot be a sellers market foreverĀ 

One last thing I was not very good at spotting the bottom of that 2008 crash thinking that it was going to go all the way to a least 1999 prices what was I thinking lol which would have been 70k in my area for a 3bedroom house back then

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HOLA442
On 02/10/2018 at 13:54, Finman said:

Oh, BTW, forgot to mention the obvious - a house should be no more than a utility, the cheaper the better!Ā  Depriving generations of the opportunity of a reasonably priced place to feel secure, bring up a family, and feel invested in society is a sin and so shortsighted.Ā  Financialisation and cheap credit.Ā  My name is Finman and my curse is I understand finance and politics!

I agree ? when did a house look like a atm how did we end up like this capitalism gone wrong???Ā 

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HOLA443

Can anyone predict the next property crash in the UK or are property crashes non existent now because we have found away to control them and prices will go up for ever and ever. Waiting to buy lol still living with parents in mid 40s I don't want to buy at the top of a market

On 02/10/2018 at 13:54, Finman said:

Oh, BTW, forgot to mention the obvious - a house should be no more than a utility, the cheaper the better!Ā  Depriving generations of the opportunity of a reasonably priced place to feel secure, bring up a family, and feel invested in society is a sin and so shortsighted.Ā  Financialisation and cheap credit.Ā  My name is Finman and my curse is I understand finance and politics!

Ā I agree ? how did itĀ  come to this capitalism gone wrong???

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HOLA444

The date is 8th May 2019 and again I'm reading headlines that I don't want to see house prices rise. They show biggest jump in 2 years for April when is this going to end I'm getting fed up now nothing seems to be able to derail house pricesĀ 

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HOLA445
On 19/04/2019 at 22:45, mjn said:

Don't lose hope I have been trying to get a long blog to you but it has not been registering may be because I've been talking in detail about the 2008 and early 90s crash it might get to you later

Post the blog or link or send me a pm.

Ā 

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HOLA447
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HOLA448
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HOLA449
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HOLA4410
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HOLA4411
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HOLA4412

Long term lurker, i did use to post on here about 10 years ago as Goldman.

I had given up on the crash, Happydays.

Position: Large deposit ready and will start looking as soon as the lockdown ends.

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HOLA4413
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HOLA4414

Like so many, a long long time lurker trying to make sense of it all. Sold in 2004, stayed away till 2012. Bought again in 2012 thanks to a "is this the best value blah blah" post on here by porkaaviation (or something like), sold in 2017, (thank you George Osbourne). Part way through a purchase now, think that will need to be reviewed!!!!

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HOLA4415

Never subbed here before though I was aware of the site. Despite being one of the "lucky" buyers of the mid-90's, I've never fallen for the lie that living in an expensive house makes you rich, and as someone wanting to move up the ladder I'd have preferred lower prices.

Separated from my wife earlier this year and split the house proceeds 50/50. She bought a place straight away and I moved in with relatives while house hunting. Then Covid happened.

So I'm deciding on my next move and think perhaps I should rent, watch and wait. Something is definitely in the air.

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HOLA4416
On 20/05/2020 at 21:49, Jim_Dodgy said:

Never subbed here before though I was aware of the site. Despite being one of the "lucky" buyers of the mid-90's, I've never fallen for the lie that living in an expensive house makes you rich, and as someone wanting to move up the ladder I'd have preferred lower prices.

Separated from my wife earlier this year and split the house proceeds 50/50. She bought a place straight away and I moved in with relatives while house hunting. Then Covid happened.

So I'm deciding on my next move and think perhaps I should rent, watch and wait. Something is definitely in the air.

Welcome!

well done on buying the dip, that was fantastic timing.

sorry to hear about the split, never easy!

in regards to waiting in the current situation, I wouldnā€™t wait too long. as each day your funds will lose noticeable value if in Sterling.Ā 
Ā 

read permanent portfolio if your going to wait a while (say 15 years) to buy, to maintain your value.Ā 
Ā 

personally if you can afford a nice enough house for yourself, with small or no mortgage at least you have that whatever happens. Iā€™m not saying buy at any cost.

but if anything crisis is a good time to buy, sellers will be more receptive (even if it doesnā€™t seem that way).Ā 
Ā 

also freshly single might be a good time to get a fixer upper to keep yourself busy!Ā 

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HOLA4417

Hi All,

Long time lurker. Late 20s FTB with a decent deposit but can't bring myself to buy into this insanity; have been calling a crash as long as I can remember.

My background and career is in economics, although the state of modern capitalism has made me doubt everything I've ever studied. I'd describe our current system as more of a selective socialism one than a free market despite what the media / government states. Pretty sure Friedman et al are spinning in their graves but that's the insanity of where the housing market has taken us.

Anyway, I look forward to some debate, discussion and getting to know some well-versed folk on here. Here's to the impending crash.

Paul

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HOLA4418
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HOLA4419
On 18/07/2020 at 17:00, PaulTW said:

Hi All,

Long time lurker. Late 20s FTB with a decent deposit but can't bring myself to buy into this insanity; have been calling a crash as long as I can remember.

My background and career is in economics, although the state of modern capitalism has made me doubt everything I've ever studied. I'd describe our current system as more of a selective socialism one than a free market despite what the media / government states. Pretty sure Friedman et al are spinning in their graves but that's the insanity of where the housing market has taken us.

Anyway, I look forward to some debate, discussion and getting to know some well-versed folk on here. Here's to the impending crash.

Paul

If your background is in economics, could you explain yourĀ take on this housing market and wider scope of the economyĀ  moving forwards?

Ā 

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HOLA4420

Hi All

what recession.

Ā Just observations quite a few neigboursĀ  have been on furlough. Now Ā onĀ Ā holiday for 2 weeks with new caravan.Another neighbour brand new car on drive.Others home improvements restaurants paked out.Loads of money about .

Houses selling I dont get it like boom time hereĀ in theĀ South East.

Ā 

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HOLA4421

Greetings.

Thought I'd use my millennial post to introduce myself.Ā Ā  Have lurked since the early days, joining after GFC2007.Ā  Not keen to give too much of myself away - looking at my previous posts there is enough to get a good picture of me and even a reasonable g**gle hit.

I was brought up poor working class - I saw my mother go hungry and my dad deal with Loan sharks.Ā  I decided skipping lunch was better than the looks I got when claiming my free dinner ticket.Ā  There is no such thing as 'noble poverty'..you struggle and do what is needed.Ā  It wasn't the immigrants, the single mothers, the gays, the jobless I was fearful of; they helped out.

It was the middle class rich who lived close to us....who couldn't afford (or qualify) for the Grammar, but could buy all the latest clothes and equipment and be dropped into school in a shiny new car. It was the same folk thatĀ  wereĀ  going into BTL, farming struggling students and new workers, boasting how their holidays were paid for.

I managed to study and get myself to college and University.Ā  I paid my way through them and did post grad research before moving into the private sector.Ā  With my time used, I have realised:

1)Ā  Being poor isn't just 'lifestyle' choices.Ā  You can be dealt a hand that is unwinnable.Ā  I was lucky, but that doesn't mean everyone is.

2) The 'self made man' is cr*p.Ā  Yes you can improve yourself to a limit, but you need help and you need to help others behind you as your payback.

3) The BTL mentality is ingrained into the UK psyche.Ā  TBTB will do anything to keep the staus quo - only a genuine revolution can change this.

4) There are people that support the status quo, even when it harms them.Ā  This is the power TBTB have over us.

Ā 

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HOLA4422
1 hour ago, msi said:

Greetings.

Thought I'd use my millennial post to introduce myself.Ā Ā  Have lurked since the early days, joining after GFC2007.Ā  Not keen to give too much of myself away - looking at my previous posts there is enough to get a good picture of me and even a reasonable g**gle hit.

I was brought up poor working class - I saw my mother go hungry and my dad deal with Loan sharks.Ā  I decided skipping lunch was better than the looks I got when claiming my free dinner ticket.Ā  There is no such thing as 'noble poverty'..you struggle and do what is needed.Ā  It wasn't the immigrants, the single mothers, the gays, the jobless I was fearful of; they helped out.

It was the middle class rich who lived close to us....who couldn't afford (or qualify) for the Grammar, but could buy all the latest clothes and equipment and be dropped into school in a shiny new car. It was the same folk thatĀ  wereĀ  going into BTL, farming struggling students and new workers, boasting how their holidays were paid for.

I managed to study and get myself to college and University.Ā  I paid my way through them and did post grad research before moving into the private sector.Ā  With my time used, I have realised:

1)Ā  Being poor isn't just 'lifestyle' choices.Ā  You can be dealt a hand that is unwinnable.Ā  I was lucky, but that doesn't mean everyone is.

2) The 'self made man' is cr*p.Ā  Yes you can improve yourself to a limit, but you need help and you need to help others behind you as your payback.

3) The BTL mentality is ingrained into the UK psyche.Ā  TBTB will do anything to keep the staus quo - only a genuine revolution can change this.

4) There are people that support the status quo, even when it harms them.Ā  This is the power TBTB have over us.

Ā 

I agree with this having grown up working class thanks to parents that clawed their way from the lower class.Ā I see people that brag about winning a 100m race without even realising they started 50m down the track against people that started at the beginning often with no shoes in a race they didnt even know they were running for the first part of their lives. But it does make it even sweeter when you finally do manage to overtake them!

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HOLA4423
6 hours ago, msi said:

Greetings.

Thought I'd use my millennial post to introduce myself.Ā Ā  Have lurked since the early days, joining after GFC2007.Ā  Not keen to give too much of myself away - looking at my previous posts there is enough to get a good picture of me and even a reasonable g**gle hit.

I was brought up poor working class - I saw my mother go hungry and my dad deal with Loan sharks.Ā  I decided skipping lunch was better than the looks I got when claiming my free dinner ticket.Ā  There is no such thing as 'noble poverty'..you struggle and do what is needed.Ā  It wasn't the immigrants, the single mothers, the gays, the jobless I was fearful of; they helped out.

It was the middle class rich who lived close to us....who couldn't afford (or qualify) for the Grammar, but could buy all the latest clothes and equipment and be dropped into school in a shiny new car. It was the same folk thatĀ  wereĀ  going into BTL, farming struggling students and new workers, boasting how their holidays were paid for.

I managed to study and get myself to college and University.Ā  I paid my way through them and did post grad research before moving into the private sector.Ā  With my time used, I have realised:

1)Ā  Being poor isn't just 'lifestyle' choices.Ā  You can be dealt a hand that is unwinnable.Ā  I was lucky, but that doesn't mean everyone is.

2) The 'self made man' is cr*p.Ā  Yes you can improve yourself to a limit, but you need help and you need to help others behind you as your payback.

3) The BTL mentality is ingrained into the UK psyche.Ā  TBTB will do anything to keep the staus quo - only a genuine revolution can change this.

4) There are people that support the status quo, even when it harms them.Ā  This is the power TBTB have over us.

Ā 

A very powerful video to highlight what you have explained.

Ā 

Ā 

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HOLA4424
Ā 

If your background is in economics, could you explain yourĀ take on this housing market and wider scope of the economyĀ  moving forwards?

Certainly. Whilst MSM and governments may peddle the free-market and capitalist narrative we do not live in that and have not done so for many years. We live in an era of targeted government intervention and Covid is only accelerating this, I'd say we're in some form of "selective socialism" era of economics; the big scheme of which is Help to Buy. Not an easy scheme to withdraw now it has started. Housing market seems hooked on monetary or fiscal intervention, completely detached from modern free market economics. If Covid doesn't provideĀ the slide in prices, I don't think anything will ever knock it.

In terms of the future, complete crystal ball gazing, even in the short term. We've a mountain of debt to pay back and with government debt now exceeding total economic output it's hard to see how that will be corrected anytime soon. I think we'll see a sustained period, perhaps aĀ generation, of minimal bank rates. Inflation targeting has gone out of the window as well. Overall, I think the state will be playing an ever-increasing role in the direction of western economies.

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HOLA4425
Ā 

Certainly. Whilst MSM and governments may peddle the free-market and capitalist narrative we do not live in that and have not done so for many years. We live in an era of targeted government intervention and Covid is only accelerating this, I'd say we're in some form of "selective socialism" era of economics; the big scheme of which is Help to Buy. Not an easy scheme to withdraw now it has started. Housing market seems hooked on monetary or fiscal intervention, completely detached from modern free market economics. If Covid doesn't provideĀ the slide in prices, I don't think anything will ever knock it.

In terms of the future, complete crystal ball gazing, even in the short term. We've a mountain of debt to pay back and with government debt now exceeding total economic output it's hard to see how that will be corrected anytime soon. I think we'll see a sustained period, perhaps aĀ generation, of minimal bank rates. Inflation targeting has gone out of the window as well. Overall, I think the state will be playing an ever-increasing role in the direction of western economies.

Ta

What would you do?

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