Property crash, just maybe it really is different this time (Part 3)

[leonardratso]

fewer

[spygirl]

15 minutes ago, apples said:

Came here to post that. In particular:

lose

Ueahs, ago ,i nthe mid 90s,. when houses were on the floor - as theyll be again at some point - I went thru the payments with someone who had kept all his mortgage statements.

He started off saying that we was still 'up' despite HP falls on a place hed bought in ~83ish

His face dropped when I pointed out how much hed paid for the last ~15y

If you view a house as an investment - and I dont - then you need some pretty hefty HP just to keep ahead of the interest cost.

Of worse- If you *NEED* you house to be an investment i.e. me pension innit then you are prob on a hiding to nowhere.

 

[HousePriceMania]

45 minutes ago, apples said:

Came here to post that. In particular:

lose

That's what I meant   

[Mandalorian]

14 hours ago, HousePriceMania said:

If wealthy middle class people who stretched themselves at 1% mortgage rates to over pay for a house they now can't afford..who do they thinks going to buy their houses to allow them to downsize?

 

 

Like most people, they are first order thinkers.

They can do one link in the thinking chain but can't do the second.

2 hours ago, HousePriceMania said:

They've not twigged yet...

 

"Could my mortgage cost me more than I LOOSE from house price FALLS?"

 

 

 

Nothing worse than a loose house.

[HousePriceMania]

2 hours ago, Mandalorian said:

 

Nothing worse better than a loose house.

[HousePriceMania]

Anyone want to pay taxes to house foreigners?

 

https://www.dailymail.co.uk/news/article-13301795/Fears-mini-ghettos-pressure-public-services-housing-market-Furious-residents-Teesside-Hull-Bradford-blast-scandalous-Home-Office-plans-buy-homes-asylum-seekers-warn-increase-community-tensions.html

 

£750m bailout for BTL landlords disguised as housing foreign criminals who shouldnt be here

[spygirl]

8 hours ago, HousePriceMania said:

Anyone want to pay taxes to house foreigners?

 

https://www.dailymail.co.uk/news/article-13301795/Fears-mini-ghettos-pressure-public-services-housing-market-Furious-residents-Teesside-Hull-Bradford-blast-scandalous-Home-Office-plans-buy-homes-asylum-seekers-warn-increase-community-tensions.html

 

£750m bailout for BTL landlords disguised as housing foreign criminals who shouldnt be here

Headlines like the total opposite of - London, Paris, Milan.

Teesside, Hull and Bradford

 

[Axeman123]

12 hours ago, HousePriceMania said:

Anyone want to pay taxes to house foreigners?

 

https://www.dailymail.co.uk/news/article-13301795/Fears-mini-ghettos-pressure-public-services-housing-market-Furious-residents-Teesside-Hull-Bradford-blast-scandalous-Home-Office-plans-buy-homes-asylum-seekers-warn-increase-community-tensions.html

 

£750m bailout for BTL landlords disguised as housing foreign criminals who shouldnt be here

Limited credit where it is due, at least they aren't planning to pay SE/London prices to house them. I also doubt bailing out Hull BTL types is top of their priorities either. Being told "go to Hull!" might also deter future boat wankers who were hoping to be housed in central London so they can easily earn cash in hand by delivering takeaway food and cocaine on a moped.

What they should be doing for housing the wankers is buying up derelict terraces in the NE, bodging them up to minimal dickensian livability and no more. A winter there without central heating would send most sub-continentals back where they came from sharpish.

[HousePriceMania]

12 minutes ago, Axeman123 said:

Limited credit where it is due, at least they aren't planning to pay SE/London prices to house them. I also doubt bailing out Hull BTL types is top of their priorities either. Being told "go to Hull!" might also deter future boat wankers who were hoping to be housed in central London so they can easily earn cash in hand by delivering takeaway food and cocaine on a moped.

What they should be doing for housing the wankers is buying up derelict terraces in the NE, bodging them up to minimal dickensian livability and no more. A winter there without central heating would send most sub-continentals back where they came from sharpish.

buying them a tent and telling them to f**k off.

Edited April 16 by HousePriceMania

[Wight Flight]

3 hours ago, HousePriceMania said:

buying them a tent and telling them to f**k off.

What's good for Brits ...

[Democorruptcy]

3 hours ago, Axeman123 said:

Limited credit where it is due, at least they aren't planning to pay SE/London prices to house them. I also doubt bailing out Hull BTL types is top of their priorities either. Being told "go to Hull!" might also deter future boat wankers who were hoping to be housed in central London so they can easily earn cash in hand by delivering takeaway food and cocaine on a moped.

What they should be doing for housing the wankers is buying up derelict terraces in the NE, bodging them up to minimal dickensian livability and no more. A winter there without central heating would send most sub-continentals back where they came from sharpish.

Stuey could get some dodgy neighbours bringing his house price down but at least interest rates are going to be cut one day, eventually.

Quote

 

They said that contractors were using properties in 'pretty normal streets', adding that someone could buy a £300,000 house and then find that next door is 'full of asylum seekers'.

They said the properties have been 'heavily clustered' in areas with cheap housing, such as Hull, Bradford and Teesside.

'It is potentially damaging to these places because it creates ghettos which are terrible for integration,' they said.

 

 

[Mandalorian]

6 hours ago, Axeman123 said:

Limited credit where it is due, at least they aren't planning to pay SE/London prices to house them. I also doubt bailing out Hull BTL types is top of their priorities either. Being told "go to Hull!" might also deter future boat wankers who were hoping to be housed in central London so they can easily earn cash in hand by delivering takeaway food and cocaine on a moped.

What they should be doing for housing the wankers is buying up derelict terraces in the NE, bodging them up to minimal dickensian livability and no more. A winter there without central heating would send most sub-continentals back where they came from sharpish.

They should pay London prices and put them in Islington so those who think this is a good idea have to live with it.

[HousePriceMania]

 

[HousePriceMania]

2 hours ago, Mandalorian said:

They should pay London prices and put them in Islington so those who think this is a good idea have to live with it.

They'll only get 300 houses though.

[spygirl]

Funny.

Now fir London/SE I agree with Charlie. I actually think he's undeeprting the expected falls.

London/SE will be mullered from going from 2% to 6% SVR.

Chuck in inflation and tge accepted collapse of finsec py n employment and 330% is baked in.

London prices have been falling for 7+ years.

Any how, here you go

 

https://propertyindustryeye.com/will-house-prices-fall-by-35-russell-quirk-takes-on-charlie-lamdin/

And so is Lamdin dangerous? Quirk certainly seems to think so, and calls him just that.

Quirk said: “He is preposterous in his pier-end prophecies of doom and, in fact, is dangerous in preaching to would-be home buyers whom think they’re getting sound advice but instead are being force-fed snake-oil by someone here that, as prices continue to increase, will cause them to pay much more for the eventual home they buy having sat on the sidelines – not less. I wonder if he will compensate them?”

Comments

If Carlsberg made Estate Agents…

APRIL 16, 2024 AT 06:58#1

I don’t know anyone who listens to either of these two, anyway!

Log In to Reply

Report

(0)(6)

1. RussellQ

   APRIL 16, 2024 AT 07:29#2

   You should get out more often. Meet more people.

   Log In to Reply

   Report

   (3)(0)
   1. purplepatchy

      APRIL 16, 2024 AT 08:12#3

      What an odious little man you are Russell

 

I don't know who Russell Q is.

He looks like one of those aged, obese puffs that you see stalking around Soho.

[spygirl]

1 hour ago, HousePriceMania said:

 

 

[Rare Bear]

7 hours ago, Wight Flight said:

What's good for Brits ...

Too effing true.

[Wight Flight]

1 minute ago, Rare Bear said:

Too effing true.

I know. Thankfully I only hear about it every month or two but it does happen.

Really quite disgraceful.

[apples]

21 hours ago, HousePriceMania said:

buying them a tent and telling them to f**k off.

How about just telling them to f**k off? Fuck buying them a tent, or anything else

[HousePriceMania]

2 minutes ago, apples said:

How about just telling them to f**k off? Fuck buying them a tent, or anything else

Yeah, that would be better.

One has to ask, just why are the British Establishment allowing this madness ?

[sancho panza]

retns up 9.2% yoy and hosue prices down 0.2%

https://uk.finance.yahoo.com/news/average-monthly-rent-uk-101316415.html

The average cost of rent in the UK rose by 9.2% in the 12 months to February this year – the highest annual increase since records began in 2015.

Kensington and Chelsea remain at the top of the most expensive postcodes to live in the country, with the average rent hitting £3,305 in March. Outside London, Bristol had the highest rents, at £1,748.

 

The ONS also released data that showed average UK house prices falling 0.2% in the 12 months to February, slowing from a decrease of 1.3% in the 12 months to January.

Across the UK, the average house price was £281,000.

In the 12 months to February, average house prices fell in England to £298,000 (a 1.1% decrease), were down in Wales to £211,000 (a 1.2% fall), but increased in Scotland to £188,000 (a 5.6% rise).

Average house prices increased by 1.4% to £178,000 in the year to the fourth quarter of 2023 in Northern Ireland.

[HousePriceMania]

1 minute ago, sancho panza said:

retns up 9.2% yoy and hosue prices down 0.2%

https://uk.finance.yahoo.com/news/average-monthly-rent-uk-101316415.html

The average cost of rent in the UK rose by 9.2% in the 12 months to February this year – the highest annual increase since records began in 2015.

Kensington and Chelsea remain at the top of the most expensive postcodes to live in the country, with the average rent hitting £3,305 in March. Outside London, Bristol had the highest rents, at £1,748.

 

The ONS also released data that showed average UK house prices falling 0.2% in the 12 months to February, slowing from a decrease of 1.3% in the 12 months to January.

Across the UK, the average house price was £281,000.

In the 12 months to February, average house prices fell in England to £298,000 (a 1.1% decrease), were down in Wales to £211,000 (a 1.2% fall), but increased in Scotland to £188,000 (a 5.6% rise).

Average house prices increased by 1.4% to £178,000 in the year to the fourth quarter of 2023 in Northern Ireland.

From TOS

Seems to me that they are trying to keep sentiment up...

[Mikhail Liebenstein]

On 21/03/2024 at 00:42, ccc said:

You know the most depressing thing ? 

All these years of efforts your parents have put into a move they just don't need. 

And every single person on the other side who have done the same for fuck all. 

Just think of how many simple wee two bedroom houses could have been built / sold / bought / whatever for all that wasted effort. 

Absolute fucking disgrace. 

 

I'd say bungalow prices are mental, but so are first time buyer prices.

Just looked up my first house on Zoopla, it's a story of insane inflation on a 2 up 2 down terrace.

That's 3.3x in 24 years.

 

Nick Ferrari on LBC saying his first house from 1982 was £32k and is now around £500k. That is x15.6, I don't think wages have risen that much.

[HousePriceMania]

33 minutes ago, Mikhail Liebenstein said:

 

I'd say bungalow prices are mental, but so are first time buyer prices.

Just looked up my first house on Zoopla, it's a story of insane inflation on a 2 up 2 down terrace.

That's 3.3x in 24 years.

 

Nick Ferrari on LBC saying his first house from 1982 was £32k and is now around £500k. That is x15.6, I don't think wages have risen that much.

I dont think they've kept up with inflation !!!

Using the BoE Inflation calculator 32K now worth



and since wages haven't kept up with inflation and there is a cost of living crisis, make that £90K.

[HousePriceMania]

We clearly have a massive asset bubble.  Why did no one notice this ?