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I've only been here a year or so; that's because I only cottoned on to the whole internet thingy fairly late on.

Thing is, I've seen it all before. In the run up to the crash which started in the summer of 1989 I was the only person I knew who was going around telling everyone that house prices would reach a peak and then collapse.

I was considered a complete loony. But I was right! I sold my flat in July 1989 and rented a room in a shared house. I hereby lodge my claim to be the very first STR!!

I have been predicting a crash this time round since I sold my former marital home in 2003 for three times what I paid for it in 1994. Had I been more computer literate then I would have started HPC, never mind joined it!

Yup -- I remember hunting for a website that would TELL THE TRUTH...... It was a huge relief to find HPC and then realize one wasn't completely mad....... :rolleyes:

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I joined 5-April 06 and its down to this site that I didn't buy a 2 bed semi for £160,000 2 years ago and now I'm not in debt up to my eyeballs! Instead I'm sitting prety on a biggish deposit waiting for a repo or a debt ridden builder's cast off!!

Thank the Lord for housepricecrash.com, saviour of my life!!

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I am a newcomer to the hugely enjoyable HPC site and, as my name suggests, a big time bear and also a STR. However, the market needs to experience a correction of gargantuan proportions before we can celebrate the "crash" and my observations on reading the vast majority of posts, is that the long-standing members since 2003 maybe need to stand back and take an objective look at the minor adjustment so far and relate it to the phenomenal scale of house price growth in 2006/2007 alone (30% in my area of London). Given that people have been waiting five years for a downturn, and opting not to buy during that period, surely they must realise that they have foregone maybe 50% house price growth in that period and they may well still end up worse off.

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04 seems like for ever

still, got there in the end

things that stands out;

how utterly useless most city commentators and journos are, david smith especially

also how stupid the general public are when it comes to basic maths

the level of mortgage lies/fraud has been hugely under estimated

unfortunately this crash could be so bad it could take us all down

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I've been on this for far longer than has been good for me. I can't even remember how I first came across HPC - maybe the FT forum or the Motley Fool. I've lurked for the most part. I post a bit more frequently now than I used to.

As for an overview, in mid 2004 I thought along with most people that the fall was happening. Prices plateaued, approvals dropped, plenty of anecdotals coming in about dropping prices. Then in 2005 the bank of england did the most damaging 0.25% rate cut ever and kicked the whole thing off again. But even then it never reached the crazy levels of 2002-2003. Looking back, 2005-2007 really was the last gasp of the bull market. Now, especially today, I'm amazed at how quickly it's unravelling. Back in the day most bears would have laughed at mortgage approvals ever dropping below 60000, let alone approaching 40000. I hope the damage will be mostly contained to the housing market, but I fear it won't.

We should be careful what we wish for.

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First came across the site when I stumbled across 'Most overpriced &&&&hole' thread. Literally laughed so much I could hardly breath. Only later I realised the dates of the posts! Then became addicted.

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Been here pretty much since the beginning although im a lurker more than a poster. Was convinced back in 04 that a crash was due so didnt buy when i got my first proper job and moved to Bristol. Remember putting posters up anonymously on my works notice board using flyers from this site which were circulating at the time. I admit i got the timing wrong but as the saying goes "The market can stay irrational longer than you can stay solvent."

There's also the cliche when the last bear turns bull the market will crash. Well myself and another big time bear nearly bought in 2007. We were nearly those last 2 bears. Could have changed my life immeasurably for the worse if i had done such a thing.

In hindsight everything has worked out for me, or maybe ive convinced myself of this?? either way renting has increased my mobility and allowed me to move jobs easily. Ive also saved up a nice deposit of 70k in 4 years even after i bought myself a nice new BMW. Figure that a few months falls will more than pay for it.

In summary i feel well prepared for what is to come and feel that we will go back to 2004 prices (adjusted for inflation) and i can pretend the last few years were a dream.

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Lurked since summer '04 and registered and have been posting since November '06. Very glad this site prevented me from buying a slave box flat in mid-05, which was when I'd saved a deposit sufficient to land me a (now unsustainable) 2- or 3-year fix on a flat in those days.

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been lurking since 2004 when i was thnking about buying. found the site and dropped out of the buying process. This site has since taught me maths, economics philosophy, media studies. It has really taught me to question widespread assumptions and the shite of experts in the media. I've went from thinking david smith was all knowing to an eedjit. Unfortunatly the site has not taught me spelling

FH

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I joined 5-April 06 and its down to this site that I didn't buy a 2 bed semi for £160,000 2 years ago and now I'm not in debt up to my eyeballs! Instead I'm sitting prety on a biggish deposit waiting for a repo or a debt ridden builder's cast off!!

Thank the Lord for housepricecrash.com, saviour of my life!!

I am a regular visitor to this site since late 2004. I learnt a lot! Thank you guys. I was laughed at for not buying house despite reasonable salary. But my gut feeling did not feel it was right- like many of you here. Now my friends who advised me are unable to sell their houses and may not get the deposit back. I am pain free.

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Lurked for ages before joining. Can't remember exactly how I came upon the site.

I do know that at the time I was trying to find out why I didn't have a new car, decking, top range kitchen, spray tan, plasma telly and an American fridge like everyone else.

I couldn't understand how they could afford it , I thought I was mismanaging my money :blink:. Eric Pebble explained very, very clearly.

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Guest Bart of Darkness

Racked up my third anniversary on the site last week. Lurked for a short while before registering but not very long.

Originally arrived here because I couldn't understand how people could afford houses at the price they were. Either people were considerably richer than I thought they were or something fishy was going on.

Since then, the stench of something rotten has become almost unbearable.

and he actually said to me “I’ve just bought a 2 bedroom flat here in London, and I see no problem”……

Normally I'm not a vindictive man, I feel genuine sympathy for those who are/will lose their homes. But I hope this guy loses it all and ends up face down in the Thames.

(Time for my medication I think.)

That`s plenty Eric and the link is perfect, I will do my best. ;)

Best of luck Bosh.

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check on here from time to time to see whats going on but don't really post anymore, don't feel there is much argument left in it.

by now i'm sure everyone with foresight have made their defensive positions and it is just time to get the popcorn out and watch.

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Guest Bart of Darkness
by now i'm sure everyone with foresight have made their defensive positions and it is just time to get the popcorn out and watch.

Damn, I knew there was something I'd forgotten.

(Mental note, buy popcorn tomorrow.)

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Nearly reached my third HPC birthday!

I thought prices here in the SE were pretty screwy in 2001. Over the next couple of years most of my friends left the area for somewhere cheaper. In 2003 people locally were talking about house prices being insane and the Economist published a 'special edition' warning of a global house price bubble, and I've been digging in for a crash pretty much since then, though it took me a couple of years to find this site.

What scares me is that I can remember how people with good jobs were struggling to afford the prices even before 2001....

Rachel

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I have been here since the old forum - way too long, but boy it is starting to taste sweet.

So nearly bought a house today - at auction. Sold for £109k (not to me). Identical house next door sold last year for £215k. Things are panning out a treat.

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Guest Bart of Darkness
Its been a long journey but I think the end is in sight now.........Whatever happened to Bruno - he was a 24 carat nutter who was seduced by the Dark Side.

He still pops up on YouTube from time to time. His accounts get cancelled fairly quickly though. If you've ever had the misfortune to sit through "my anus is my vagina" you'll easily understand why.

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I found the site in 2002

Amazing. I'm impressed. Shame you didn't register at the time as you'd be member #1 given that the site didn't go online until late 2003.

so i figured id come back in 7 years

So this is 2009? :unsure:

Do you rent a small blue box with a flashing light on top?

Edited by The Matador
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i came here and joined the same day.

i just knew something was not right, i love this forum.There is a great mix of information, humour and debate.

even with such strong alternative views on here, i like how arguments are generally done with some politeness and dignity, except for rare occasions.

i feel privledged to be on here debating and learning from such nice and intelligent people.

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  • 439 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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