Are you ready for the crash 2009-2013?

tommy75

Everyone hold on.. House prices are on average around 15% cheaper than in 2007 if you can find a realistic seller. Living costs are rising fast year on year, ie food and gas bills and mortgage rates are rising making purchases even more expensive than prior 2007. Cash rich buyers with premature spending habits are jumping in now on low propertys numbers in the market because of historic low false interest rates. Unemployment is still rising fast, Goverment debt is growing out of control with no plans to curb spending and Gordon Brown (666) doesn't care about what comes after 2010 as he will be long gone on his pension and public speaking allowance. It will be left to the tories to tell you to buy up the beans when UK plc goes under in the next couple of years. BTL this is your last chance to sell up if you are struggling now, it is not going to get better, you know this. Who on this earth thinks prices are suistainable here after banking collapses and QE?
Page upon page about house prices rises in the last few months show how stupid Joe Public is. Fasten your seat belts and hope the nukes arn't being rolled out.

Are house prices rising? (no)
http://www.charteredfinancialplanners.co.uk/jonathan-davis-media/186/

bluey890

If the buy to let landlords have debt on cheap terms, they do not need to sell.

Nylontokyo

bluey890 wrote: »

If the buy to let landlords have debt on cheap terms, they do not need to sell.

Thats the point of what he is saying get out now before the cheap terms are gone.

These false low rates wont be here for long, they are the only reason house prices are kept propt up unrealisticaly.

PasturesNew

I must be going bonkers. I could have sworn I posted here 20 minutes ago.

ad9898_3

tommy75 wrote: »

http://www.charteredfinancialplanners.co.uk/jonathan-davis-media/186/

I listened to Jonathan Davies on that program the other day, what he is saying is what I've been saying for months, all the economic indicators going forward are terrible, this alone will stop any price trends going upwards, prices will be lower this time next year, that is almost certain, what isn't certain at this time is by how much.

For me it's a no brainer, my total outgoings are less tha 35% of my take home pay, so saving while prices are going down, or are level is the right thing to do. Forget mortgage interest rates these are a complete red herring, the main issue people should concentrate on is having the smallest mortgage you can get away with, you are then in a much better position to ride any fluctuations in the economy and IR's over that 25 year mortgage period, of which there will be many, for sure.

If you stretch yourself now, whilst rates are so low, you are leaving yourself wide open to these fluctuations, there is absolutely no reason to do this in a falling/stagnant market which will likely last at least another 5 years.

amcluesent

The coming calamity is all too obvious, except to Clown who continues to lie and spin, pursuing his 'scorched earth' policy to wreck everything for the Tories.

The tragedy for Britain is that until May 2010, we'll have drift, dithering and division at the top, as the BoE, Civil Service, Finance, Industry etc. all sit and wait until the lame-duck Labour 'government' is chucked-out.

Expect the worst, you'll certainly get it; read your Dickens to really understand the years of of grim, grinding austerity that lie ahead.

At least after Labour's last disastrous term in 1979 we had North Sea oil to use to pull the country out of dereliction. Now there's nothing, just millions of ignorant, obese dullards who can't do anything or make anything that anybody wants, and even more millions of chancers on IB/HB/CB whose demand for 'rights' means that the social security costs are £330,000 per MINUTE.

England is finished. If you can, get out now.

Cleaver

amcluesent wrote: »

Expect the worst, you'll certainly get it; read your Dickens to really understand the years of of grim, grinding austerity that lie ahead.

At least after Labour's last disastrous term in 1979 we had North Sea oil to use to pull the country out of dereliction. Now there's nothing, just millions of ignorant, obese dullards who can't do anything or make anything that anybody wants, and even more millions of chancers on IB/HB/CB whose demand for 'rights' means that the social security costs are £330,000 per MINUTE.

England is finished. If you can, get out now.

"Pessimists are the people who have no hope for themselves or for others. Pessimists are also people who think the human race is beneath their notice, that they're better than other human beings." James Baldwin.

Sorry Mr Clue, but the quote seemed apt. Cheer up a bit, hey? Weather's quite nice. Dunno if it makes you happy as such, but I bought a new squash racquet yesterday and quite fancy my chances in my game at 11.30 this morning. And running around for 45 minutes is my attempt to stop being one of the 'obese dullards' you are a bit in a twizzle about.

tommy75

Cleaver wrote: »

"Pessimists are the people who have no hope for themselves or for others. Pessimists are also people who think the human race is beneath their notice, that they're better than other human beings." James Baldwin.

Sorry Mr Clue, but the quote seemed apt. Cheer up a bit, hey? Weather's quite nice. Dunno if it makes you happy as such, but I bought a new squash racquet yesterday and quite fancy my chances in my game at 11.30 this morning. And running around for 45 minutes is my attempt to stop being one of the 'obese dullards' you are a bit in a twizzle about.

Unfortunately its not all sunshine and lollipops in the housing market and UK economy even if it is quite sunny where you are and you did buy a new squash racquet yesterday.

In 2006 the best mortgage rate for a FTB was around 4.5% with a 5% deposit (I know because I had it with the Britannia). I have not looked into this but If I'm lucky enough to be accepted on a mortgage now with a 5% deposit, what rate would I get currently? (6.5%+?) And factor this in with the fact house prices on average have fallen around 17% if your lucky to find one, does that make buying now actually much cheaper than peak? Also factor in living costs rising fast such as:
food essentials more than doubling since 2004.
Gas and electric companys not passing cuts on and making us pay higher costs.
Petrol prices shooting through the pound barrier again.
and also:
Most wages being frozen or cut this year.
Mass job losses throughout the UK with no end in sight.
The biggest transport and aviation companys going under because nobody has any money left to spend (without buying on credit).
American economy and jobless rate still in a woeful state.

Just a few points off the top of my head, if thats being pessimistic, sorry, but at least its the truth. You can't make house prices rise just because its a sunny day.

Watch out for that swine flu.

Cleaver

tommy75 wrote: »

Unfortunately its not all sunshine and lollipops in the housing market and UK economy even if it is quite sunny where you are and you did buy a new squash racquet yesterday.

In 2006 the best mortgage rate for a FTB was around 4.5% with a 5% deposit (I know because I had it with the Britannia). I have not looked into this but If I'm lucky enough to be accepted on a mortgage now with a 5% deposit, what rate would I get currently? (6.5%+?) And factor this in with the fact house prices on average have fallen around 17% if your lucky to find one, does that make buying now actually much cheaper than peak? Also factor in living costs rising fast such as:
food essentials more than doubling since 2004.
Gas and electric companys not passing cuts on and making us pay higher costs.
Petrol prices shooting through the pound barrier again.
and also:
Most wages being frozen or cut this year.
Mass job losses throughout the UK with no end in sight.
The biggest transport and aviation companys going under because nobody has any money left to spend (without buying on credit).
American economy and jobless rate still in a woeful state.

Just a few points off the top of my head, if thats being pessimistic, sorry, but at least its the truth. You can't make house prices rise just because its a sunny day.

But on the plus side:

• I'm healthy and so is my missus
• I really do fancy my chances at squash and I reckon I'll beat my good friend today. And we're having lunch afterwards, which will be nice.
• I'm off on holiday in two weeks
• My job, which I've been in since the start of the year, is ace.
• I started walking to work a couple of months ago and I'm really enjoying it. I get to listen to my music and walking 25 miles a week seems good for my health.
• I'm going to see Jane's Addition a week on Tuesday. How cool is that?!
• Me and the Mrs are in pretty average jobs and this year we're having three holidays all abroad. I had a chat with my Dad recently about how lucky we are to be able to this - pretty much the first generation.
• Yesterday I cooked a joint of beef. It came out just right: crispy on the edge and pink through the middle. Have sliced it and will have it for sandwiches this week. Can't wait.

Life is about small pleasures. Who cares about the big stuff? You can't do that much about it. Be aware of the economic and social climate you're in, have a plan to deal with what may happen (good or bad), live within your means and have as good a time as you can. And who says I want house prices to go up? I made a 14k loss on a house which we sold a couple of weeks ago and, in the grand scheme of things, it don't really matter.

Right, am off to squash. Wish me luck.

ad9898_3

Cleaver wrote: »

"Pessimists are the people who have no hope for themselves or for others. Pessimists are also people who think the human race is beneath their notice, that they're better than other human beings." James Baldwin.

Sorry Mr Clue, but the quote seemed apt. Cheer up a bit, hey? Weather's quite nice. Dunno if it makes you happy as such, but I bought a new squash racquet yesterday and quite fancy my chances in my game at 11.30 this morning. And running around for 45 minutes is my attempt to stop being one of the 'obese dullards' you are a bit in a twizzle about.

Of course you are right Cleaver in some respects. Although I share a similar view of our economic outlook going into the future as 'Mr Clue', that doesn't mean in every day comings and goings I'm not a happy chappy, I too went down the gym this morning for 45 mins, and then went out and did about 30k's on my push bike, all in attempt to ride some of the mountain passes that regularly make an appearance in the Tour de France, next year.

So even though I take quite a dim view of our economic scenario, I'm quite happy in my every day life not to think that the world is going to end before Christmas, (I hope not otherwise all my pedaling and sweating will have been in vain.:D).

Simbacat

Cleaver wrote: »

But on the plus side:

• I'm healthy and so is my missus
• I really do fancy my chances at squash and I reckon I'll beat my good friend today. And we're having lunch afterwards, which will be nice.
• I'm off on holiday in two weeks
• My job, which I've been in since the start of the year, is ace.
• I started walking to work a couple of months ago and I'm really enjoying it. I get to listen to my music and walking 25 miles a week seems good for my health.
• I'm going to see Jane's Addition a week on Tuesday. How cool is that?!
• Me and the Mrs are in pretty average jobs and this year we're having three holidays all abroad. I had a chat with my Dad recently about how lucky we are to be able to this - pretty much the first generation.
• Yesterday I cooked a joint of beef. It came out just right: crispy on the edge and pink through the middle. Have sliced it and will have it for sandwiches this week. Can't wait.

Life is about small pleasures. Who cares about the big stuff? You can't do that much about it. Be aware of the economic and social climate you're in, have a plan to deal with what may happen (good or bad), live within your means and have as good a time as you can. And who says I want house prices to go up? I made a 14k loss on a house which we sold a couple of weeks ago and, in the grand scheme of things, it don't really matter.

Right, am off to squash. Wish me luck.

Well done Cleaver! This post really made me smile.

Yes we all know things are not looking good on the economic front and we could become incredibly depressed if we thought on it too much.

I fully intend to start thinking on the bright side and finding joy in the little things I can do something about instead of getting bogged down with things I have no control over!!