Must agree with UB on this one....

:thumb:

Yes technically there was nothing 'infractable' in any of the posts but it's the same **** with a different user account and poor Pete can't quite get it into his head that it's really not wanted by the majority any more.

Wasn't me either as I wouldn't bother infracting but I agree with the sentiment entirely

And this one too, from someone who stands to lose from a collapse.

Yes, there are some sucker offers going in round my area, esp on repo'd properties. People are dropping their offers by upto £20k compared to what they offered a month before on a typical £100-150K purchase. I've got some action on a Repo'd flat that i've been trying to tie up for a couple of months but it looks like it's getting away from me due to a lot of legal/lease issues :(

The Banks have got a hell of a lot to answer for as has this government.

It was all that really kept a face of prosperity on the UK.

Wow,turns out it was all fake.What a surprise.A sentiment economy

It weren't me, I don't have the power :Suspiciou

1) Repos on the increase

2) The biggest/fastest price drops since the 1930s

3) The lowest number of transactions since records began

4)The lowest number of mortgage approvals since records began

5) Recent report prepared by Sir James (former head of HSBC) specifically for the Treasury thinks mortgages will be severley restricted until 2010.

6) Unemployment on the increase

7) Housebuilders on the verge of going bust


All this put together and you think the crash will be over by mid 2009??:lol1:

I think it will be fairly obvious when the market bottoms out, after the last crash in about 1990, prices were static for about 6 years.

Last time it lasted 4 years, give or take.


House Prices - Data Download (click on "regional quartlerly indices post'73")

If last time is anything to go by (and I'm not sure it is, the circumstances are very different) Then prices should be back on the rise by around 2011-12.

so we have banks already dropping mortgage rates trying to attract new business such as Barclays / Woolwich and Nationwide, interbank lending rates are coming down, Interest rates are remaining at a reasonable level so though caution is best it doesn't look quite so bleak if you look at the facts and not the Daily Mail. Private houses don't seem to be dropping round here people simply are sitting tight as lets face it if you don't have to move at the moment why would you choose to. However developers are dropping prices fast as they have debt to repay and its hurting them which is pushing the figures. Prices are dropping back in the stats but so far only to last years level. Obviously no sane person is looking to buy at the moment unless they perceive a bargain and there are some repo bargains out there mostly due to a lack of buyers. Will it right itself fast well a lot of people have cheque books at the ready waiting for the bottom and as soon as activity starts it'll be as frenzied as ever really just depends what the journalists write in the papers as thats what seems to be leading most people these days. Mortgage approvals are at a record low but it would be interesting to see how many people are actually being turned down as that will be the true sign of what is going on.

One things for sure if we allegedly need all these new houses in the South East that New Labia are looking to build if they don't get built then the supply and demand process will come back into play forcing up prices. If the buy to let bubble bursts which is what is causing a lot of the repo's is that a bad thing?

If you are so sure, why not put all your money into the derivatives market? You would make a killing.

Oh for Chrissake who did that to Tam ....:rolleyes:


presumably theres some petty squabbling were not priveledge to

Because only a fool would put all his money into one asset class, its called diversification.

I'm on fixed at 5.25 till 2017.

I'm wondering if we will go back to interest rates at 10% plus.They seem to have a hard job of keeping them around the 6.5-7% level as it is.

Really can't see rates ever coming back down to the mad levels that fuelled it of 3 and 4%.That was crackers

True, but your assessment of my scenario shows a huge amount of confidence in the doom and gloom outlook. If I was that confident I would at least put something that way.

Surely its up to him what he does with his money, he's just expressing his opinion as are the rest of us - right or wrong.

I'm confident the we'll see a 30-40% total drop in house prices (inflation adjusted) but with all due respect what a man does with his money is his own business.

To be honest I hope I'm wrong, its not pleasant living through massive slump, I do believe that our economy has been built on the housing market for the last decade and if it crashes then the UK will be pretty depressing to live in for some years.

The other reason I wouldn't is because these sorts of financial instruments are driven by more than just fundamentals. There is the ability for major manipulation and movements by big institutions of which I am not one!

I will however be putting my money where my mouth is on my opinion but not via derivatives.

Umm, if the prices are down 9% since last year, then they can't have dropped back to last years level ;)

That is fair enough then. :)

Excuse my earlier response by the way, nothing personal :). I'm just a little bored with other people who simply just like to repeat what they hear in the gutter press but are unwilling to stand by their word or make any kind of significant stand to reinforce what they say.

Interestingly with my house running it through this calculator

House Prices home page

gives this result

A property located in Outer Metropolitan which was valued at £400000 in Q1 of 2007, would be worth approximately £405310 in Q2 of 2008.

odd results from one of the better sources that everyone uses

Some of us doom mongers were acting when the press were still saying house prices were going to the moon.

If it is all sorted out by 2009 it is a good job I only have a 12 month lease, but could probably extend it much longer. I think my £800/month rent vs £400k purchase price will take a bit more unwinding than one year to turn them around so that purchasing is more attractive than renting.

I really cannot believe that site asks you to put your postcode in if you are 'unsure what region you are in':brickwall

Sat Nav generation....can find their way home but are unsure exactly where it is they live

I know! Our 2 bed flat was £122500 at time of purchase in August 2006. According to that site, it's now worth £129000? (south east). :wonder:

Spot-on, there are sad people all over the world - here they are the Infractors, it's their way of feeling some kind of virtual power (as they have none in their real world). You must feel for the patheticness of it?

That's it, you tell 'em Pete ;)

And people with about a zillion usernames are not sad in the slightest. :thumb:

Don't forget a 9% drop is the equivalent to an 18% rise! ;)

I used this last night and I can confidently say that it isn't correct.

And I can prove it - look up house prices in any street on nethouseprices.com - these are the prices houses were sold at between 2001 to 2008.

Input a selection from 2006, 2005, 2004, 2003, 2002 and 2001 given the same 'type' of house ...... you get varying figures as to what the value is now!! :rolleyes: Therefore, it is simply an indication.

Not when they are used to tease the saddo's :lol1:

Whether I get castigated or not for mentioning it as far as this OP is concerned, I cannot for the life of me see why what he said in any of his posts could be said to be trolling and certainly there is nothing in any way abusive or offensive in what was said.

I don't give a stuff about he may or may not have posted in the past, that is nothing to do with these four posts.

I think it is time that SN authorities took a closer look at these sorts of infractions and started to apply their own rules with respect to that procedure.

I say this as much as anything because I think that this sort of unfair behaviour is likely to spread until the whole system of infraction falls into disrepute.

Les

Oh what a surprise. PSLewis's lap dog pops up to defend him once again :rolleyes:

He was trolling, he got banned, same old same old.....

I'm sure he'll be back in no time with yet another new user name. Must be a right nightmare to keep track of them all :D