Tuesday, April 15, 2008

My landlord wont happy about this

Average London home drops by £13,000 in a month

"More than £13,000 was wiped off the price of the average home in London in a single month, according to official figures. The 3.75 per cent fall - the biggest since government records began six years ago - saw prices drop from £351,315 in January to £338,109 in February" YIEEPIEEE

Posted by confused76 @ 06:20 PM (1375 views)
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16 thoughts on “My landlord wont happy about this

  • mark wadsworth says:

    Confused76, I love you! We sold-to-rent in London just three months ago.

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  • waiting for the crash says:

    crash crash crash.

    ITV News is now covering people who have been effected by the ‘credit crunch’ Quote from one pensioner ‘I got an increase in my credit limit and thought I had more money to spend’. How typical is this attitude towards credit cards??

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  • Still a long way to go. What’s 13K in London: one eighth of a bedroom?

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  • 26 months to zero then ——— not very long. GB & AD better get their thinking caps on.

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  • little professor says:

    No comments allowed on this article – I guess they don’t want a deluge of angry Londoners.

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  • Mind you, at this rate we might all end up praising for them having been presented with such bargains to live in.

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  • @Confused76 – you’ll have greenbay on here shortly telling you how your Landlords yield has just increased by X% points (LOL)

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  • japanese uncle says:

    If 13,000 pounds a month drop continues for 12 months, the size of annual fall should amount to 156,000 pounds. 25% drop in fiscal 2008 may suddenly start to look a bit too conservative. And there is no guarantee this 13,000/month drop will not gather pace for the months to come. In fact it is more likely to accelerate in a spiral along with unemployment, personal insolvency, repossession and business failures. Sorry to show an extremely gloomy picture. But the government & BoE really ought to have decelerated the economy circa 2000 by the measures such as raising IR as it became more and more unsustainable and even grotesquely lunatic, simply to avoid this carnage as exactly predicted in this forum for the last few years.
    If someone happened to have observed the discussion in this website to develop reasonable doubt about the ‘sky is the limit’ argument, and decided not to buy house as a result, he or she should have saved tens of thousands of pounds, indeed.

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  • mark wadsworth says:

    … and I’m a moron who forgot his closing tag. Oops.

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  • Ponerology and the Pound – Humanity’s Worst Invention
    “The world is a dangerous place to live, not because of the people who are evil,
    but because of the people who don’t do anything about it.”
    Albert Einstein
    For some reason, thinking of bad inventions, my thoughts first turned to money. But then
    money in its original form as an enabler of the exchange of goods and services, is, or at least
    was, a good thing. It is when money is itself traded as a commodity that problems arise,
    especially on the international markets. In this context, I suggest humanity is in an advanced
    stage of delusion accelerating towards unstable, unsustainable insanity.
    Alongside this and in reality part of the same phenomena, are the mountains of debt which
    overshadow mankind’s very existence here on earth. Of course, all of this is very vague and
    very broad and right here we are looking for an invention, something we can isolate and pin
    down as not just a bad idea, but the one which has most negative influence on the planet.
    Humanity’s Worst Invention.
    So amidst cries of “off with his head” and “we can’t print that”
    I am proposing that The Bank of England is in deed the invention we are looking for.
    Of course there are at least two Bank of Englands, in perception terms that is. There is ‘our’
    Old Lady of Threadneedle Street, the symbol of power and security, part of what being
    ‘British’ is all about. We can all get on with our personal stuff knowing the Pound is being
    safely looked after. Sadly, that is where the delusion begins and where the ‘other’ bank hides,
    the bank who’s shareholders MPs are not allowed to raise questions about in parliament.
    Check back on the real history if you need to. The origins of The Bank of England are
    anything but English and ‘our’ Pound is anything but safe.

    How a foreign (Dutch) king in 1688 managed to invade England by sea, and march an army
    from Devon to London as part of ‘The Decent on England’, depose the existing king, become
    king of England himself and somehow get this recorded in history books as ‘the glorious
    revolution, should make us all a little sceptical if not deeply suspicious. But of course William
    didn’t do this all on his own.
    Six years later the same transnational conspirators that had put him in ‘power’, came up with
    a brilliant loan plan to finance William’s obsession with war on France. The Bank of England
    was born and William’s obsession became the national debt. The loan was secured against
    future taxes on the British people who although never expected to repay the capital, pay the
    interest on it to this day. But that’s only part of the story, after all this is the worst invention
    and it does get worse.
    The government’s responsibility to provide currency was handed over to The Bank of
    England, perhaps the best printing job any ‘printer’ ever had, totally beyond comprehension.
    Not only this but also the right to charge the government (read ‘the people’) interest on the
    money printed. Madness? I think so. Over time money was printed with less and less security
    or fractional reserves so the money loaned actually didn’t (and doesn’t) exist until the loan is
    made. If it looks like a fish and smells like a fish it probably is a fish. A Yahoo search on
    fractional reserve banking today returned ‘about’ 336,000 entries. Millions of wide awake
    people are quietly weighing up the form and deciding what to do personally.
    And there’s worse to come, words like siphon, drain and plughole come to mind. It’s the
    interest, the interest on the loans, they never ever print the interest. Think what this means. If
    for instance and simplicity, ten people borrow £1,000 each for a year at 10% pa., the
    £10,000 is created out of nothing. At the end of the year they all pay back (or should if they
    could) the £1,000 they each borrowed plus £100 interest. So the bank has the £10,000 which
    was created out of thin air plus £1,000 interest which has been extracted from the genuine
    common wealth of the people. This has been going on for well over three hundred years.

    Gradually, no matter how hard we work, or how clever we are, fundamentally real wealth
    disappears from society and is replaced with debt, virtual money. Try playing the board game
    Monopoly with the bank taking back £200 each time you pass GO. Last time I checked more
    than 97% of the UK’s currency was debt, only existing in computer software. Virtual reality?
    The practical everyday effect of this is to boil the frog. Slowly over the years basic human
    values and concerns for each other and our environment are replaced by competitiveness,
    greed, selfishness and a lust for acquisition, power and wealth. Meanwhile, many millions of
    us in the so called developed world are avoiding or rather masking poverty with increasing
    debt.
    Last for the moment, but by no means least, once the Bank of England invention was up and
    running, it was a relatively simple matter to re-invent it all over the world in almost every
    country. This was of course in effect one of the principle functions of the British Empire.
    Eventually humanity developed a global version, the World Bank with its cousins the IMF and
    WTO with all the well reported ecological, humanitarian, economic, ethical and humanity
    threatening implications.
    But this was not before the same movers descended on the United States of America and
    created the Federal Reserve system in the image of the Bank of Amsterdam, sorry I meant
    England. At the time of writing, the US treasury secretary John Snow has recently (6th
    March) told Congress that rather than default on its obligations the nation is delving into
    pension funds to avoid hitting the $8,2 trillion debt limit.
    ‘The Fed’ will stop reporting on M3 on Thursday March 23rd, (whilst Congress is on a spring
    break) and only days after Iran’s intended new oil bourse may start trading oil, anybody’s oil,
    in Euros on 20th. This may expose the madness totally with dire consequences for us all.
    But what sort of people could create and perpetuate such a monster? Surely, some have said,
    behind these evil men must be something more, aliens perhaps or even reptiles from another
    dimension. This may be so, who really knows?.

    However, according to Andrew M. Lobaczewski, Ph.D in his soon to be published book Political
    Ponerology: a Science on The Nature of Evil adjusted for Political Purposes, from Red Pill Press,
    the answer is much closer to mankind. It’s in our genes, or more accurately, it is what is not in
    some peoples genes.
    Apparently a small percentage of humanity lacks the normal restraints of conscience,
    empathy, guilt or shame. At the same time not all are violent but most have the ability to
    mask their psychopathy with a facade of sanity and charm. Many will be reading this essay.
    Hi there!. How’s it going?.
    These people naturally gravitate into positions of power and influence in politics and
    commerce, where, once established they gradually modify the rules and laws to create a
    world that suits them. Compliance with their new world is rewarded with material success and
    so previously ‘normal’ humans adopt psychopathic behaviour in order to survive and prosper
    in a contrived and hostile environment.
    This I suggest is not a possibility, not a projected scenario or another ‘what if?, this is history.
    We, with help from our friends Mr Apathy and Mrs Complacency have lost control of our
    world to a minority group that have us suspended in an Orwellian, Huxlian dreamlike state,
    and, as ‘they’ are really part of ‘us’, their invention really belongs to humanity.
    “All that is required for evil to prevail
    is for good men to do nothing.”
    Edmunde Burke

    Note: Parts of Mr Lobaczewski’s work on Political Ponerology and other related information can be obtained via
    a web search on the subject and ideally, Laura Knight-Jadczyk

    This author has no connection other than common interest with either named person.

    Awareness Therapy or a healthy future
    An Holistic Approach to Bringing Together Alternative Possibilities

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  • waiting for the crash says:

    Cannot wait for March’s figure – should be a stonking headline, April’s will be an absolute ball. May’s a scream! June’s a riot and so on……

    CCCCRRRRRRAAAAAAAAAAASSSSSSSSSSHHHHHHHHHH!!

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  • Bertie Bunfest says:

    It wont continue at this month’s momentum consitstently any more than prices over the last ten years ever showed consistently similar rises or falls. Next month could be flat or a small change.

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  • “Professor Nickell, a respected economist who until last year sat on the Bank of England’s Monetary Policy Committee, which sets interest rates, said: “Demand for housing is growing and unless action is taken, pressure on the market will only get worse.”” June 2007.

    Even me, a mere part-time blogger with a passing interest in economics, could see that we were heading for disaster in late 2005. Nickell is either deeply corrupt, or a complete idiot who refused to learn anything at University. And to think this guy was a sitting member of the MPC!!

    GIVE ME A BREAK.

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  • Another govt. spokesperson pointing out that “Today the issue facing the market is credit supply, (in the early 90s) it was high unemployment and high interest rates”. Er….so why aren’t people beating a path to the lenders’ doors to buy at today’s ‘low’ interest rates?

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  • Yerhavingalaugh says:

    Just wanted to thank you guys for saving me a bundle over the last 6-8 months. Its so easy to say now that this HPC was obviously coming. When I sold in August last year the general consensus amongst friends and family was that I was taking unnecessary risks leaving the market. In fact renting has been a liberating and profitable experience. I have gained a lot of background economic insight from this site to boot.

    I feel really sorry for the FTBs and those who put their faith in Crash and the pornstars though. The ramifications will reverberate for years. What ordinary person with burnt fingers will ever trust a politician (or any persuasion) again. Not good for democracy methinks – disillusionment = political voids to be filled by extremist groups promising a return to stability. Now where have we seen that before?

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