Some of you are vultures

greenwheels007

DirectDebacle wrote: »

I don't think that will necessarily be the case. AFAIK around 60% of properties have no mortgage and are owned outright. Of the remaining 40% a good percentage will not be in negative equity. My current home as an example I bought in 96 on an 80% mortgage. The recently ridiculous HPI took this from £57k in 96 to £300k in 2006. There will be many in this position of poz equity. I think purchasers in your position will be a minority in the overall scheme of things and will be bypassed. There is a lot of supply in the system for FTB unsold city centre flats and those under construction that have been mothballed. Not a cheery thought but just the way I see it.

Come on, you need to look big picture here!
40% of the stock is owned. Many, many people have re-mortgaged their homes in order to fund various things. The housing market is just that, a market. In any street a good 10% of houses are sold and re-sold over a 5 year period, there is huge fluidity. The new builds will be gobbled up by our ever increasing population. The market rose 300%, so it is obviously fluid, so it can crash too, it has before and at times when peoples mortgage to property ratio was far lower.
The context of this crash is simular to the 80's where there was a hedonistic belief that house prices would head on it to the stratosphere.
There will be many currently in positive equity but that number will rapidlt diminish as the slide continues. If house prices are reducing 1% to 5% per month now just explain to me what will correct that trend?
So as house proces slide, trickle, drop or crash (whichever you prefer) more and more people will click in to negative equity.
Perhaps the point that we would disagree on is unemplyment, which I have already explained, I obviously factor this in whereas your theories appear not to.
That is where we differ, I hope you are right!
Not a cheery thought but just the way see it!

tesuhoha

Davesnave wrote: »

Dunno who this is, but she is talking out of her rectum....

I worked on supply for a number of years due to being a carer and, while I didn't object to the pay (roughly £23 per hour at that time) I had to turn up at about 8am and usually worked till at least 5pm. I was only paid for 6.25 hours (because I was technically 'free' to go out in the lunch hour) but the logistics of marking 2 sets of around 28 books, plus other marking/paperwork and account for the extra time. Not only that, but if it was a 'run' of several days, I'd be at home in the evening preparing for the next day, as the work was often unfamiliar. (No school today has unplanned time and, due to equal opps. parallel classes must cover similar things)

Yes, I know there are a few supplies who go into school and 'sit on their backsides,' but in the real world you will find that, being virtually self-employed, these characters' phones don't ring very often! If they are employed in a good school, you can bet that someone will make it their job to evaluate them and a red mark will go against their name in the supply list. Weak supply teachers are therefore only called in meltdown situations or to sink schools where no one else wants to go where, I suspect, they don't really sit on their bottoms, but spend most of their time on their feet in crowd control! Frankly, £50 an hour would be too little for that.

Just thought I'd correct a few misunderstandings. I don't claim to know much about gas fitters. The one I know, last worked 5 hours for me in 2006 and charged £300, which I thought fair.

Edit: I have another plumbing job coming up, so I'd quite like this poster's husband to do it. I'll bid £23 per hour!

There's a site called My Hammer where people post for quotes for building work. Maybe before you criticise my husband you should look on there to see how little plumbers are working for nowadays.

You can say what you like, insult me by saying I'm speaking out of my rectum but I speak the truth. Supply teachers at my school start at 9 and finish at 3.30pm. Whether its a good school or not is irrelevant, the majority of them hand out the work or write it on the board and then sit at the front of the classroom. They certainly don't teach. There is a shortage of good supply teachers but its not going to last because with all this unemployment hopefully good people will start training to be teachers and we will not have to employ so many supply staff.

£23 an hour will do very nicely love, but I think you'll find you're paying over the going rate.

phil1873football

I see I have put another angle on things, I was just meaning, take my position, I bought and like I have mentioned in previous posts...my neighbours are the most intolerbale people in the world and therefore, I MUST move to try and get on with my life again (on medication, etc.)

My house is for sale, it got valued recently and was valued more than I owed on my mortgage (i only bought 15months ago), however, it is failing to sell and it is well below what its 'apparantly' valued at and even below what i owe on my mortgage. I can't go any lower or I will not be able to afford to sell as I will owe the mortgage lender a tidy sum, therefore, I have no option but to sit-in and HOPE something happens (not likely in the short term...possibly longer term).

I am not blaming anyone, before anyone accuses me of that and I did the right things when I borrowed as in easily afford my repayments and have no other debts.etc...I am just saying that I may never be able to sell and move on with my life unless something happens like the housing market settles now (which I doubt). This is quite a depressin thought to be honest.

I was just wondering if loads of people are in my position, and can't sell as they will lose too much, will they just forget about moving, this will in turn cause a stagnentation in the property market and when FTB's try and eventually look for a house, they will be up against loads of FTB's for the same properties, therefore, possibly pushing prices up again.

What do you guys n girls think?

greenwheels007

tesuhoha wrote: »

There's a site called My Hammer where people post for quotes for building work. Maybe before you criticise my husband you should look on there to see
how little plumbers are working for nowadays.

I am sure Plumbers are working for normal wages nowadays, I never disputed that.
My point is that when self employed people are charging they should charge a reasonable amount, the trades were just riding the house price boom and adding a nought to their quotes, I'd have probably done the same!
But now sitting in the public sector watching others return to reality I don't have one ounce of sympathy for people who were in a business that was booming monaing that they are in the same boat as the reat of us!

JonnyBravo

before_hollywood wrote: »

2. renting is designed to be costlier than purchase price

Designed? How do you mean?

Because someone has had to buy it and will want to make a profit?

Oh dear.

No. Renting and buying prices are driven by the market and renting has been cheaper for quite a while due to high buying prices. That will eventually reverse..... but guess what...... it won't last! I'm still surrpised that this is news to some and that cycles are the norm.

greenwheels007

phil1873football wrote: »

I see I have put another angle on things, I was just meaning, take my position, I bought and like I have mentioned in previous posts...my neighbours are the most intolerbale people in the world and therefore, I MUST move to try and get on with my life again (on medication, etc.)

My house is for sale, it got valued recently and was valued more than I owed on my mortgage (i only bought 15months ago), however, it is failing to sell and it is well below what its 'apparantly' valued at and even below what i owe on my mortgage. I can't go any lower or I will not be able to afford to sell as I will owe the mortgage lender a tidy sum, therefore, I have no option but to sit-in and HOPE something happens (not likely in the short term...possibly longer term).

I am not blaming anyone, before anyone accuses me of that and I did the right things when I borrowed as in easily afford my repayments and have no other debts.etc...I am just saying that I may never be able to sell and move on with my life unless something happens like the housing market settles now (which I doubt). This is quite a depressin thought to be honest.

I was just wondering if loads of people are in my position, and can't sell as they will lose too much, will they just forget about moving, this will in turn cause a stagnentation in the property market and when FTB's try and eventually look for a house, they will be up against loads of FTB's for the same properties, therefore, possibly pushing prices up again.

What do you guys n girls think?

You can probably guess what I think from my previous posts!
I would sell now for what you can get.
The facts are that you wil take a financial hit but, if you hang on and house sale prices continue to slide then you compound the problem. In addition you don't like your home. The next few years will be tough finacially without the added grief of anti-social neighbours, you have my sympathy.
Bail out, rent, pay off what you owe and save for a depoist in a couple of years time. No point in paying a mortgage if it is more than the value of your house.
There will be other views but that's just mine!

All the best

phil1873football

greenwheels007 wrote: »

You can probably guess what I think from my previous posts!
I would sell now for what you can get.
The facts are that you wil take a financial hit but, if you hang on and house sale prices continue to slide then you compound the problem. In addition you don't like your home. The next few years will be tough finacially without the added grief of anti-social neighbours, you have my sympathy.
Bail out, rent, pay off what you owe and save for a depoist in a couple of years time. No point in paying a mortgage if it is more than the value of your house.
There will be other views but that's just mine!

All the best

I can think of cheaper ways to deal with the neighbours, but that might be illegal:rotfl: :rotfl: :rotfl: kidding btw, before someone reports me

tesuhoha

caveman38 wrote: »

Hands up those who beleive a Corgi certified gas fitter earned £100 for 15 hours work.

I think you're a little bit behind the times. My husband was out of work for 12 weeks. There is no work in the South East. Construction has come to a complete halt and there are lots of construction workers, not just plumbers, out of work here. It is very difficult to find work, any work and to stand a chance of getting the boiler job he had to do it for a very cheap price. We were completely desperate and I am not lying about it, so how dare you. You probably do not know how it feels not to have secure employment. He has always worked for contractors and we never know if he will have work next year or even next month with the same people.

I think with you this has to do with class. There are some people who cannot stand the working classes doing well and earning more than the minimum wage. How dare a plumber earn more than £30k a year. I notice that you aren't complaining about dentists earning lots of money. If the Eastern Europeans came in and undercut all the dentists would you talk about how they've ripped people off for so long and now they're whinging? I don't know but I do know that I was charged £90 for two fillings that took half an hour a few months ago.

Incidentally, believe is spelt b e l i e v e

ess0two

tesuhoha wrote: »

I think you're a little bit behind the times. My husband was out of work for 12 weeks. There is no work in the South East. Construction has come to a complete halt and there are lots of construction workers, not just plumbers, out of work here. It is very difficult to find work, any work and to stand a chance of getting the boiler job he had to do it for a very cheap price. We were completely desperate and I am not lying about it, so how dare you. You probably do not know how it feels not to have secure employment. He has always worked for contractors and we never know if he will have work next year or even next month with the same people.

I think with you this has to do with class. There are some people who cannot stand the working classes doing well and earning more than the minimum wage. How dare a plumber earn more than £30k a year. I notice that you aren't complaining about dentists earning lots of money. If the Eastern Europeans came in and undercut all the dentists would you talk about how they've ripped people off for so long and now they're whinging? I don't know but I do know that I was charged £90 for two fillings that took half an hour a few months ago.

Incidentally, believe is spelt b e l i e v e

You cant compare a plumber to a dentist.The average joe could be trained as plumber in 6mths tops.A dentist takes years to train etc.
I could quite merrily live with a leaking pipe,but not toothache.

spritely

A dentist also has to pay staff, run a practice, and so on. Though I'd struggle to live with a flood....