Property crash, just maybe it really is different this time

[Democorruptcy]

5 minutes ago, haroldshand said:

Put that drunken slob video up of him singing to you, that was f****** hilarious. Imagine some poor Dad at one time had his daughter bring that mess home to meet him, poor bastard.

@THEFREEMANposted that yesterday but I've forgotten which thread.

[haroldshand]

10 hours ago, sancho panza said:

Rising prices on small volumes ....I'm not sure on the methodolgy they use to mix adjsut/seasonally adjsut.

Following the trends on RM which are based on admittedly lagging land reg data,I wouldn't bet either way on this.My experience of LE2 (the psotcode I monitor the msot) says that the bulk of liquidity is at the higher end detached/semis,poor for terraces and pisspoor for flats,hence skew to the upside.

.Although I reckon the chances of a melt up are a lot smaller than the chances of a melt down and the bit in the middle-real term small drops msot likely.

The bit I'm interested in leveraging is the price of Berkely/Bdev et al which are heavily leveraged to the hosue prices...I still see no reason to mvoe short.

It's only anecdotal but it is the same source I used when I totally dismissed ToS several years ago and said the property market  was strong as it had been in the last 25 years and I was proven  right though warned not to be so bullish. Back then  I knew bags of BTL investors who were still buying and showing zero fear of the business, but right now you can feel how edgy many of them are and are now getting endless issues with tenants and new regulation. Many are sitting on huge equity and I just cannot see many of them risking it, though none have openly said they are selling any  of their properties just yet, but I just get a feeling some might me considering it

[THEFREEMAN]

3 minutes ago, Democorruptcy said:

@THEFREEMANposted that yesterday but I've forgotten which thread.

STUEY got owned

Edited June 2, 2022 by THEFREEMAN

[haroldshand]

1 minute ago, Democorruptcy said:

@THEFREEMANposted that yesterday but I've forgotten which thread.

I can't either, I tend to avoid his endless whittling on and hijacking of endless threads but I wish I held that one 

He is on one of those karaoke machines obviously pissed again, funnier than when he was showing filthy naked arse on here. Some people really need to step away from social media and the internet if they are problem drinkers, I have made it a habit I never email or text after a few glasses of wine, saves so much potential grief

[Stuey]

12 minutes ago, THEFREEMAN said:

STUEY got owned

This guy could never pwned anyone, the fat slob. 

 

[THEFREEMAN]

Just now, Stuey said:

This guy could never pwned anyone, the fat slob. 

 

U got owned

now fuck off

[Stuey]

Just now, THEFREEMAN said:

U got owned

now fuck off

Not when it's in lower case you LOON. 

[haroldshand]

22 minutes ago, THEFREEMAN said:

STUEY got owned

I think it was more a case of "STUEY" standing back and watching the prick hang himself again.

You can always count on this moron to go into meltdown after he has pissed enough people off

Edited June 2, 2022 by haroldshand

[haroldshand]

11 minutes ago, Stuey said:

This guy could never pwned anyone, the fat slob. 

 

The endless posts he puts up "That's the type of guy I am".

Even one I read of his today trying to now convince us he is "fitter than most us" 

[Democorruptcy]

1 hour ago, THEFREEMAN said:

STUEY got owned

@Stueyprobably replied in a very high pitched voice "O Romeo Romeo! Wherefore art thou Romeo?

[Loki]

wrong thread

Edited June 2, 2022 by Loki

[goldbug9999]

10 hours ago, THEFREEMAN said:

STUEY got owned

Disappointed to see a few missed out, need an extra verse: 

Shirt lifter, Uphill gardener,  Chocolate chimney sweep.

[Spiney Norman]

37 minutes ago, goldbug9999 said:

Disappointed to see a few missed out, need an extra verse: 

Shirt lifter, Uphill gardener,  Chocolate chimney sweep.

Sheriff of the dirt highway?

[goldbug9999]

2 hours ago, Spiney Norman said:

Sheriff of the dirt highway?

Porthole pirate, Brownpipe engineer.

[leonardratso]

uphill gardener, porthole gazer

Welder.

Botman.

 

Edited June 2, 2022 by leonardratso

[Wight Flight]

Anyone know how I get one of these housing association thingys? Don't want to miss out on the next big handout.

Edited June 4, 2022 by Wight Flight

[sarahbell]

On 30/05/2022 at 21:27, Napoleon Dynamite said:

Market still stupid in South Manchester/Stockport.  Things going for record money very quickly.

Selling a probate property, nicer part of South Manchester/Stockport.  Bought for 350K 2 years ago.  Now valued at 425K to 475K.  So likely 100K up for no reason.

One near us on for 500K which was a record for the area.  Could only get viewings if you were proceedable, 3 offers over asking price came in.

Another one Cheadle Hulme. On for 525K.  40 odd viewings.  Went for 560, with a higher offer turned down.

Crap holes in bad areas having bidding wars and going for 250K.

But lots of money around here coming from somewhere. Maybe Southerners moving North with Equity. Seeing a lot more HK too, once one family is settled a few more move in too.

I sound like a troll estate agent on TOS, but all true, was never like this up here previously.

Insane. 

How on earth does it make sense?

[UmBongo]

On 02/06/2022 at 23:53, leonardratso said:

uphill gardener, porthole gazer

Welder.

Botman.

 

Sausage sailor

[marceau]

54 minutes ago, sarahbell said:

Insane. 

How on earth does it make sense?

It doesn't. Blow-off tops never do.

[Phil]

Just called in a new build estate. Nosey cunt I am. Chatting to the sales assistant and she mentioned alot of cash buyers from HK and its " helping keep the  market buoyant. That was the second one. The first one, being the nosey cunt I am, said she couldn't see the price rises continuing. Thought I'd share. 

[Axeman123]

48 minutes ago, Phil said:

she mentioned alot of cash buyers from HK and its " helping keep the  market buoyant...

Were they trying to sell you one? If so they would have an incentive to talk up the market.

[Phil]

7 minutes ago, Axeman123 said:

Were they trying to sell you one? If so they would have an incentive to talk up the market.

I'd already mentioned the possibility of interest rises, so maybe, maybe not. Its all a shitshow bomb waiting to detonate imo. Can't wait. It will be fun for everyone. 

[satch]

I have a relative moaning about the state of the bloody housing market, prices of rentals and prices to buy are rising at a ridiculous rate. The relative (and new partner) were renting and signed a new multi-year contact, the landlord has after a few months given them notice … the landlord can probably get a much higher rent now than that specified in the multi-year contact. When the pandemic was ongoing the landlord was quite happy to have a good paying tenant and was clearly worried about getting a new tenant who might decide not to pay the rent and could, because of the pandemic, not be evicted. But now rents are rising and needs must as they say … bloody housing market.

The relative and new partner are also now looking to buy and are annoyed that the property they want to buy has had an open-house viewing (the property was sold (sold!) recently and is now back on the market!)  and is open to multiple bids with the good old fashioned bidding war … ‘offers over the asking price’ says the estate agent with some glee and relish … ‘so, how much to secure the property?’ … ‘well clearly you are in a bidding war so there will be you and a couple of others, maybe more after all the viewings’ … and the ‘mystery’ bidder, the no-existent one, who has just come in and trumped every bid by another 20 grand … you will need to offer 30 grand extra … well it does say offers over … the relative is worried that even if their bid is accepted then someone will come in and outbid them … and then the mortgage company may not lend what it is worth! … bloody housing market …

Still not to worry the new partner still has their property which is in a different part of the country, that’s right they want to keep that one to rent it out as they will get a better return than putting the money in the bank and property prices are rising at 11 percent every year. Also the good news is that if they wish to move back to the other area then they already have the property and can simply get rid of the tenant and move in themselves … bloody economy is a mess but at least the housing market is working.

[spygirl]

Can only see the free bit -

https://www.thetimes.co.uk/article/my-mortgage-was-never-a-problem-until-my-partner-died-lx5kclvsr

‘My mortgage was never a problem until my partner died’

Interest-only loans used to be common, but many borrowers are now stuck without a repayment plan, writes George Nixon

Charlotte Fraser has never missed a payment but not cleared any of her debt

George Nixon

Sunday June 05 2022, 12.01am, The Sunday Times

Charlotte Fraser has resigned herself to the fact that just after her daughter does her GCSEs she’s going to have to sell their family home.

In 2005 Fraser, 49, and her partner, Nick Oakley, moved from Edinburgh to a three-bedroom house in Guildford, Surrey. They took out a £180,000 interest-only mortgage and paid a £100,000 deposit from the sale of their home in Edinburgh. He was a software engineer, while Fraser, who works for a small charity, didn’t have a job at the time. “It’s mad to think about. You couldn’t get a mortgage like that now,” she said. “We were vaguely advised to get some kind of repayment vehicle.”

[spygirl]

Should have had a repayment method and life unsurance in place.

LI alone would have cost literally pennies - assuming the now dead hubby did not have a pre existing condition.

Shes had almost 20 years to pay off 180k.