House Prices Now At 2004 Levels
27 January 2009, 04:14 PM
#363
Scooby Regular
Thread Starter
Join Date: Jun 2008
Posts: 5,559
Likes: 0
Received 0 Likes
on
0 Posts
27 January 2009, 04:23 PM
#364
Scooby Regular
Join Date: Dec 2006
Location: Mars
Posts: 11,470
Likes: 0
Received 0 Likes
on
0 Posts
Oh yes, the very estate agents who were telling how lively the market was six months after it had died a death.
The very estate agents who are dropping like flies. Just look how many TTs are up for sale.
The very estate agents who have a reputation somewhere between 2nd hand car dealers and recruitment "consultants"
Have to say that when seeking advice and opinion on the property market, estate agents aren't my first port of call...
The very estate agents who are dropping like flies. Just look how many TTs are up for sale.
The very estate agents who have a reputation somewhere between 2nd hand car dealers and recruitment "consultants"
Have to say that when seeking advice and opinion on the property market, estate agents aren't my first port of call...
27 January 2009, 04:26 PM
#365
Scooby Regular
Thread Starter
Join Date: Jun 2008
Posts: 5,559
Likes: 0
Received 0 Likes
on
0 Posts
I love Estate Agents, they are a very underestimated jewel in the UK's crown
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
28 January 2009, 12:01 PM
#366
As I have said previously ,when that sun starts peeping through in a month or two ,people will be out and about looking at property .This boat is ready to sail ,you heard it here first .!!
It isnt going to be full steam ahead ,but its leaving port .!!
If you can swim then leave it a while ,but if you cant ,you may need to jump aboard now .
Thought Id give it the Nautical theme for Matty .!!
28 January 2009, 03:42 PM
#368
Scooby Regular
Join Date: Jan 2001
Posts: 5,582
Likes: 0
Received 0 Likes
on
0 Posts
by njkmrs.Are you being serious or on a wind up like Pete? If you honestly thiink the time it takes your mate to make a window is a barometer of the global economic crisis you need your head tested.
28 January 2009, 04:47 PM
#369
It,s nothing to do with the time to make a window ,which I would imagine is next to no time .
He had that much work in ,I would have to join the queue ,mate or no mate .
Before Xmas for a few months, the work had dried up ,is what Im getting at .He even laid off some of the lads .Now he has seen a biggish upturn in orders .
Which adds to my point that in certain areas ,things are maybe turning .!!!
Me a wind up Merchant ???
You have mistaken me for someone else .
He had that much work in ,I would have to join the queue ,mate or no mate .
Before Xmas for a few months, the work had dried up ,is what Im getting at .He even laid off some of the lads .Now he has seen a biggish upturn in orders .
Which adds to my point that in certain areas ,things are maybe turning .!!!
Me a wind up Merchant ???
You have mistaken me for someone else .
28 January 2009, 06:43 PM
#370
Scooby Regular
Join Date: Jan 2001
Posts: 5,582
Likes: 0
Received 0 Likes
on
0 Posts
It,s nothing to do with the time to make a window ,which I would imagine is next to no time .
He had that much work in ,I would have to join the queue ,mate or no mate .
Before Xmas for a few months, the work had dried up ,is what Im getting at .He even laid off some of the lads .Now he has seen a biggish upturn in orders .
Which adds to my point that in certain areas ,things are maybe turning .!!!
Me a wind up Merchant ???
You have mistaken me for someone else .
He had that much work in ,I would have to join the queue ,mate or no mate .
Before Xmas for a few months, the work had dried up ,is what Im getting at .He even laid off some of the lads .Now he has seen a biggish upturn in orders .
Which adds to my point that in certain areas ,things are maybe turning .!!!
Me a wind up Merchant ???
You have mistaken me for someone else .
If you did I don't think you'd be gibbering on about your mate who makes double glazing!!!!!!!
I know you say you enjoy the banter but your comments are becoming more and more ridiculous. Every 10 minutes you have some other half cocked idea as to what may signal the end of a recession that hasn't even started yet.
Which bit do you not understand? Unemployment rising, capital flows reducing, currencies falling, riots in Greece and Eastern Europe, 20m predicted to be unemployed this year in China, unemployment almost 20% in Spain, rising at its fastest rate in the USA, mass protests planned in Russia over falling living standards, retailers folding everyday, car industry needing bailouts,quantitative easing on its way. I mean how long do you want me to go on for?
All this is in your face but you decide to focus on your mate who makes frigging windows????????
Can you really see the shoots of recovery almost everyday as your posts suggest?
28 January 2009, 06:56 PM
#371
Scooby Regular
Join Date: Oct 2001
Location: ....
Posts: 6,621
Likes: 0
Received 0 Likes
on
0 Posts
Deep, with the greatest respect to you and your knowledge of financials etc....
I'm in the construction game and have never been so busy.
Okay, I'm a sole trader but I have work until September onwards and I'm having to farm it out to others who are also getting very busy.
Next week alone I have 4 jobs to see who are all regular customers and I'm going to have to employ someone to help me get the work done.
I'm even struggling to get a good decorator to help me out.
My wifes company, admittedly a global, 60 country affair, have a backlog of work to nearly 4 years and over the last 5 months have been given contracts worth from €40m - €150m each month, and have posted the best quarterly profits for about 5 years.
I know I'm no big fish in the world of conglomerates but there is a lot of work out there!
Perhaps I'm just very very very good at what I do
But I fully understand where you're coming from regards your post to njkmrs - I do read the Financials etc....
I'm in the construction game and have never been so busy.
Okay, I'm a sole trader but I have work until September onwards and I'm having to farm it out to others who are also getting very busy.
Next week alone I have 4 jobs to see who are all regular customers and I'm going to have to employ someone to help me get the work done.
I'm even struggling to get a good decorator to help me out.
My wifes company, admittedly a global, 60 country affair, have a backlog of work to nearly 4 years and over the last 5 months have been given contracts worth from €40m - €150m each month, and have posted the best quarterly profits for about 5 years.
I know I'm no big fish in the world of conglomerates but there is a lot of work out there!
Perhaps I'm just very very very good at what I do
But I fully understand where you're coming from regards your post to njkmrs - I do read the Financials etc....
28 January 2009, 07:19 PM
#372
Scooby Regular
Join Date: Jan 2001
Posts: 5,582
Likes: 0
Received 0 Likes
on
0 Posts
Zip, I have no knowledge of financials to speak of
I don't doubt that there are companies who are doing well. The whole world doesn't shut up shop and live in a cave during a recesssion, thats not what I'm saying.
We are talking about the economy (UK and global) in general, which is only going one way at the moment which is down. I know you know that but for some reason njkmrs seems to be hallucinating green shoots every five minutes and I just can't understand it.
Anyway, I'm glad to hear you are doing well
Out of interest do you mind if I ask what specifically you do and which part of the country you are in?
I don't doubt that there are companies who are doing well. The whole world doesn't shut up shop and live in a cave during a recesssion, thats not what I'm saying.
We are talking about the economy (UK and global) in general, which is only going one way at the moment which is down. I know you know that but for some reason njkmrs seems to be hallucinating green shoots every five minutes and I just can't understand it.
Anyway, I'm glad to hear you are doing well
Out of interest do you mind if I ask what specifically you do and which part of the country you are in?
28 January 2009, 07:23 PM
#373
Scooby Regular
Join Date: Oct 2001
Location: ....
Posts: 6,621
Likes: 0
Received 0 Likes
on
0 Posts
Deep, I'm a decorator in Nottingham.
Built up a good business starting from before the end of the last recession.
In some ways I think this recession is sorting the wheat from the chaff, not a pleasant way of looking at things but that's what I believe is true.
Also, I turn up when I say I will
Regards your financial knowledge - just stop being so humble, you know loads!
Built up a good business starting from before the end of the last recession.
In some ways I think this recession is sorting the wheat from the chaff, not a pleasant way of looking at things but that's what I believe is true.
Also, I turn up when I say I will
Regards your financial knowledge - just stop being so humble, you know loads!
Last edited by zip106; 28 January 2009 at 07:24 PM.
28 January 2009, 08:53 PM
#374
So Deep are you telling me you are the expert then ,and I should believe everything you say .
I dont profess to know it all ,and I dont spout everything I read ,hear or see .
I give my opinion on subjects based on a wide and varying number of sources,usually real world sourced .
I have no interest in reading Financials and regurgatating it back to others .
I mentioned a pick up in the building game,hence the delay in getting a window made,(not spouting about a mate who owns a window firm,he works there ,I leave the bragging rights to others,who are much better at it than me ),this was just an example that backs up my feeling on how things May be going .
Self employed Builder ,has work upto and beyond Summer (mainly block paving),brother in law who fits windows,probably wont get round to fitting mine for me,because he has plenty going on .
Spring time is normally the time when the housing market picks up,so nothing there most people dont know already and it may just kick start it .
I really dont care if you agree or not,or in fact whether Im right or not ,its a debate and brings people and ideas out for discussion .
I really dont take it that seriously to be honest .I am quite happy to listen to others and chip in ,thats it .
I enjoy a bit of goading in a light hearted way .It makes the world go round .
I will let you know if I get any more inside info on the pending Economy .!!
I dont profess to know it all ,and I dont spout everything I read ,hear or see .
I give my opinion on subjects based on a wide and varying number of sources,usually real world sourced .
I have no interest in reading Financials and regurgatating it back to others .
I mentioned a pick up in the building game,hence the delay in getting a window made,(not spouting about a mate who owns a window firm,he works there ,I leave the bragging rights to others,who are much better at it than me
),this was just an example that backs up my feeling on how things May be going .Self employed Builder ,has work upto and beyond Summer (mainly block paving),brother in law who fits windows,probably wont get round to fitting mine for me,because he has plenty going on .
Spring time is normally the time when the housing market picks up,so nothing there most people dont know already and it may just kick start it .
I really dont care if you agree or not,or in fact whether Im right or not ,its a debate and brings people and ideas out for discussion .
I really dont take it that seriously to be honest .I am quite happy to listen to others and chip in ,thats it .
I enjoy a bit of goading in a light hearted way .It makes the world go round .
I will let you know if I get any more inside info on the pending Economy .!!
Last edited by njkmrs; 28 January 2009 at 08:55 PM.
29 January 2009, 08:17 AM
#376
Another one confirming what I am saying .
****** of light at the end of the Tunnel .
Who needs Financials bringing you doom and gloom.I prefer the real world !!!!
Kin knew I was right !!!
****** of light at the end of the Tunnel .
Who needs Financials bringing you doom and gloom.I prefer the real world !!!!
Kin knew I was right !!!
29 January 2009, 08:35 AM
#377
Scooby Regular
iTrader: (2)
Join Date: May 2005
Location: Cardiff
Posts: 2,266
Likes: 0
Received 0 Likes
on
0 Posts
Most of the builders and tradesman I know are busy, and have work booked up for most of the year - however, not the ones who used to work building new houses ! Most of this is extensions, loft conversions etc...
I think people who were thinking of selling are now realising they are probably going to have to stay put for at least a few years, and all those jobs that they hadnt bothered getting done as it wasnt worth it if they were moving are getting sorted.
I think people who were thinking of selling are now realising they are probably going to have to stay put for at least a few years, and all those jobs that they hadnt bothered getting done as it wasnt worth it if they were moving are getting sorted.
29 January 2009, 08:46 AM
#378
Scooby Regular
Thread Starter
Join Date: Jun 2008
Posts: 5,559
Likes: 0
Received 0 Likes
on
0 Posts
However, back to house prices ......
"UK house prices show no sign that they have hit the bottom as the Nationwide House Price Index recorded its 15th straight monthly fall in January with prices sliding 1.3 per cent,
Thursday’s figures bring the year-on-year drop to 16.6 per cent, against a decline of 15.9 per cent in the year to December"
Source:- FT.com
And:-
House prices fall 1.3% in January | This is Money
"UK house prices show no sign that they have hit the bottom as the Nationwide House Price Index recorded its 15th straight monthly fall in January with prices sliding 1.3 per cent,
Thursday’s figures bring the year-on-year drop to 16.6 per cent, against a decline of 15.9 per cent in the year to December"
Source:- FT.com
And:-
House prices fall 1.3% in January | This is Money
29 January 2009, 09:39 AM
#379
Scooby Regular
Like most things the correct position is somewhere in the middle of the argument
Those that predict total doom and gloom remind me of the people who didn’t buy in the mid 90’s because they were waiting for prices to fall back to the early 70’s
But the fact is property is the best investment you can make (proper property with real value, not a 1 bed flat above a chip shop that relies on a never ending rise in prices to be able to off load to another mug).
Because people overstretch themselves on credit buying depreciating assets like cars does not detract from the fact that property is a great investment
Remember the 1st rule of finance is that you can NEVER get rich using you own money. You have to use someone else’s --- nothing wrong with credit as long as you use it to invest in something that appreciates in the long term and can give you an income. Not "spunking it up the wall" buying "shinny precious things" like the idiots in Royston Vasey
as Mark Twain said "Buy land, they're not making it anymore”
Those that predict total doom and gloom remind me of the people who didn’t buy in the mid 90’s because they were waiting for prices to fall back to the early 70’s
But the fact is property is the best investment you can make (proper property with real value, not a 1 bed flat above a chip shop that relies on a never ending rise in prices to be able to off load to another mug).
Because people overstretch themselves on credit buying depreciating assets like cars does not detract from the fact that property is a great investment
Remember the 1st rule of finance is that you can NEVER get rich using you own money. You have to use someone else’s --- nothing wrong with credit as long as you use it to invest in something that appreciates in the long term and can give you an income. Not "spunking it up the wall" buying "shinny precious things" like the idiots in Royston Vasey
as Mark Twain said "Buy land, they're not making it anymore”
Last edited by hodgy0_2; 29 January 2009 at 09:44 AM.
29 January 2009, 09:59 AM
#380
Scooby Regular
Join Date: Oct 2003
Location: Runway two seven right.
Posts: 6,652
Likes: 0
Received 0 Likes
on
0 Posts
YOY maybe off 16.6% but it's also fallen 19.1% from peak. Factor in inflation and it's 22%. Percentages are one thing but let's talk cash.
Someone in a house worth £300,000 at it's peak, has " lost " £66k. On paper of course.
And if you'd MEW'd yourself to " release equity " for lifes' essentials ( a new BMW X5 and wall to wall plasma's ) you're not a happy camper right now!
Someone in a house worth £300,000 at it's peak, has " lost " £66k. On paper of course.
And if you'd MEW'd yourself to " release equity " for lifes' essentials ( a new BMW X5 and wall to wall plasma's ) you're not a happy camper right now!
29 January 2009, 10:40 AM
#382
Scooby Regular
anyone who doesn't believe that in 8 to 10 years they will be offering 100% mortgages again is as stupid and deluded as the bankers that will be offereing them
29 January 2009, 11:13 AM
#383
Scooby Regular
Join Date: Jan 2001
Posts: 5,582
Likes: 0
Received 0 Likes
on
0 Posts
Zip, you are probably doing well because the only other decorator I know in Nottingham is well dodgy and goes by the name of Salsa King (only joking Phil )
Good tradesmen like you will always be busy (as Mike also says) because people will always need work done, and are more likely to improve/extend than move.
The construction industry in general is buggered though both here and USA. You only have to look at the share prices and profits warnings from giants like Wolsley etc.
Commercial property is also going very badly, just look at the share price of British land. Goldman Sachs and King Sturge have both said (as though we didn't know already) that commercial property will have a dire 2009, capital and rental value drops.
You can also look at the prices of commodities ie copper etc which has fallen, or the fact that Corus has reduced production and laid off 3000 people.
I thought we were talking about the economy in general (UK and global) not micro circumstances. If that is the case then as far as I'm concerned there is no recovery anywhere on the horizon, and anybody who can see one is hallucinating ( and I mean for the economy as a whole, not individual personal circumstances)
The stats released today (yes I know stats can be skewed) estimates that the US economy will contract by 1.6%, eurozone by about 1.3% and wait for it... UK by over 2%! Thats the biggest contraction since the World War 2.
But, I did have to queue 5 minutes longer than usual at the local Fish n Chips shop, perhaps '****** of light at the end of the tunnel'?
)Good tradesmen like you will always be busy (as Mike also says) because people will always need work done, and are more likely to improve/extend than move.
The construction industry in general is buggered though both here and USA. You only have to look at the share prices and profits warnings from giants like Wolsley etc.
Commercial property is also going very badly, just look at the share price of British land. Goldman Sachs and King Sturge have both said (as though we didn't know already) that commercial property will have a dire 2009, capital and rental value drops.
You can also look at the prices of commodities ie copper etc which has fallen, or the fact that Corus has reduced production and laid off 3000 people.
I thought we were talking about the economy in general (UK and global) not micro circumstances. If that is the case then as far as I'm concerned there is no recovery anywhere on the horizon, and anybody who can see one is hallucinating ( and I mean for the economy as a whole, not individual personal circumstances)
The stats released today (yes I know stats can be skewed) estimates that the US economy will contract by 1.6%, eurozone by about 1.3% and wait for it... UK by over 2%! Thats the biggest contraction since the World War 2.
But, I did have to queue 5 minutes longer than usual at the local Fish n Chips shop, perhaps '****** of light at the end of the tunnel'?
29 January 2009, 12:59 PM
#388
Scooby Regular
Join Date: Oct 2003
Location: Runway two seven right.
Posts: 6,652
Likes: 0
Received 0 Likes
on
0 Posts
