Thanks again for the heads up. Sorry to be a pain but what time on the 16th?

 

Shortly after the B of E hold their monthly meeting I'd have thought?

Let's call it 12:05

 

Thank you Pete.

I do wonder however, how much of your second scenario will come to pass rather like it did a short time ago.

They cant keep printing extra money for ever of course!

Les

 

My astrological charts confirm that date. There will be something big in ur anus on that day.

 

Is Pete having a private session with his beloved Blair

 

Still they climb ....................

Anything which comes to the market in the South is snapped up within hours, with more than 3 buyers pushing the price up!

 

3 buyers in the south of England?


THAT many!?

 

Driving past the new build developement up the road from me ,they all have SOLD signs on !!!!!!


Phase two is well under way .!!!!!!

 

You ,ting tong and your mother ?

 

Do you actually really believe these signs

 

Cause he is on **** money! Wages have be slashed drastically! I can only make a good wage because I'm good at what I do! I have had work all the way thru this bad recession but my wages have been slashed and I have had to work longer hours and 7 days a week to make less money than what I could make in 5 days! If it doesn't pcik up properly next year it DEFINATELY will be the year after and things will get back to more normality Housing sales are now well past the bottom so if you missed it "sunnysideup" tough the bull trap has sailed as well. All we need now is wages back to normal and **** what the house sales are. I'm sure everyone is sick of having pay cuts and pay freezes

 

Well yes to be honest ,several of the houses were occupied !!!!!!!!

Went for a walk last night and on one little back street ,3 terraced houses were all Sold as well .

Someones buying thats for sure .!

 

It has to be a lie, as they must be putting sold signs up to pretend things are sold as they really don't want the cash

 

I'm still a scabby tenant, and expect to be for a few years yet before this has all unwound.

It is funny, initially people thought I was mad to sell and then rent, then many thought I'd made a good call, now some thing I'm missing the boat. I expect to be rewarded by patience and ignoring short term market trends that are due to negative real interest rates and pre-election political interference.

People round here still want 25 times the median wage for houses that are not terribly exciting. To me that is a lot of money, and should buy you something special with privacy and location. It is also a lot of money to lose if bought at the wrong point in the cycle.

 

^^ Didn't you sell at the "wrong" time though John few years ago wasn't it?

TX.

 

Well, not quite but, anything reasonably priced seems to be sold pretty quick around here (south Hampshire). Am completing on one next week, and will be looking for another in the new year.

 

Everyone said it was wrong at the time TX, but doubling your money on a new build in a town that was crazily overbuilt and clearing first mortgage by 30 on a detached house was something I was quite pleased about. I'm delighted with the decision. I've had the chance to rent two amazing houses for buttons in the meantime, and have flexibility, which is useful when my wife has had three different jobs since we sold up.

My only regret is some of the trading decisions I've made with the house fund since (I'm sitting on a nice gain but could have made much more), many were "right" but I was too early and when they went the wrong way I closed them. I also didn't account for the level of political interference/quantitative easing which messes up free markets.

The main danger for me is making the same decision here. I'm sticking to my guns, and delighted to be contrarian.

The UK housing market is presently a bull trap. Far worse is to come in real house prices (relative to inflation).

 

basement flat - kensington park road w11

mother in law sold in 4 weeks 630k to a cash buyer

that's real sale

money out there -- ask a banker

 

So is £800 a week bad for a painter and decorator?

 

£800 - average wage I guess? So maybe, yes?

Truth is that House Prices are storming ahead here in the South of Hampshire .... Dorset too is seeing everything selling within hours .........

I don't want to admit to what is happening in front of my eyes - but, it is happening - and I have missed the boat for my Holiday Home!

 

If that £800 is after tax then it's well above average. even if not it's stilll good money.

 

£800 for 48 weeks work ( 4 weeks holiday ) is only £38,000 .... of course, before Tax and NI.

 

While there is a severe shortage of decent property coming to the market, prices will be driven by buyers, and that will be upwards.

Plenty of cash rich buyers looking for somewhere to put their cash - property is as good as anywhere else.

However, if Interest Rates go up (and I mean they would have to increase 500% at least) then, and only then, will buyers dry up and prices slip.

 

Only! Jesus, pull your head out of your **** Pete! I would call that a bloody good wage for a painter and decorator, even before tax.

 

Volumes are still low, bank lending is still tight, cash rich buyers may get exhausted soon and like me then look for bargains. There is a lot of pent up demand with people wanting to sell which will keep a lid on prices. Interest rates can only go one way from here, and they've probably pushed quantitative easing as far as they dare to trash the pound already. Now the piper must be paid.

 

http://www.statistics.gov.uk/downloa...09/tab8_1a.xls

... will show you what percentile £800/wk is in, it is top 10% in many areas.

 

Yes, pent up demand ...... from BUYERS!!!

Nah, the prices are firm - they will only increase .... unless something drastic happens, like a big rise in Interest Rates.

Interest rates will go up - of course - but how fast and to what level? I suspect that they will only gradually return to the 5% they once were after about 5 years ......... so gradual that most will not notice it.

Personally, I would like rates to be hiked to 8% in the summer - I would like houses to stop selling and more to come to the market in distressed sales - I would like to become a 'predatory buyer' (as an Estae Agent called me in Q4 2008) again .......

But, I fear that I cannot see House Prices falling again for a few decades - if the last horrific economic downturn didn't hit them for six - nothing will ...

 

Many opinions make a market

A rally on low volumes after the start of a burst of a bubble driven by negative real interest rates is highly suspect. It isn't getting my cash.