Debate House Prices


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Prices to Crash (3 Million in Negative Equity)

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  • damanpunk
    damanpunk Posts: 192 Forumite
    brit1234 wrote: »
    What portfolio?

    The one you were speaking about on LLzone that Cleaver/Chucky linked
    Cleaver wrote: »
    Chucky posted a comment seemingly from you the other day which was posted on another forum:

    http://www.landlordzone.co.uk/forums/showpost.php?p=48185&postcount=15

    I'm a bit confused. It would seem a strange coincidence to have two Brit1234's posting on housing forums, so are you a former BTL landlord or a FTBer?

    The same one that you were going to take the rate rise hit on in 2007 instead of your tennants?
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    fc123 wrote: »
    Mate. you got rumbled by Cleaver and others. A viral marketing type cyber bot.

    he got more than rumbled... something that he can't deny
    have a look at this classic post.
    Brit1234 wrote: »
    Radio 4 did a survey of auction prices and came up with a 48% price drops from peak land registry figures.

    What is well known is that house prices were very overvalued and fueled by irresponsible lending. Now banks investment vehicles are dead they have to rely on savings and do not want to lend.

    I expect widespread 50%+ falls from peak by Christmas 2009.
    We are already seeing a large increase in 50% fall properties on the oen market even in London.

    Where people openly laughed at 50% fall predictions last year they are now becoming accepted as reality by the wider public now.

    Talk is moving now to 60-70% falls in certain areas such as flats.


    The simple fact is now people need big deposits to buy so they need prices to fall to get these deposits. The only exception to this is homebuy scheme but these are putting people straight away into negative equity and distorting house price figutes (due to general low sales figures else where) like Nationwide today (suprising 0.4% drop when everything else indicates far larger drops).
    http://www.landlordzone.co.uk/forums/showpost.php?p=104005&postcount=17
  • chucknorris
    chucknorris Posts: 10,793 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    damanpunk wrote: »
    The one you were speaking about on LLzone that Cleaver/Chucky linked


    The same one that you were going to take the rate rise hit on in 2007 instead of your tennants?

    The situation with brit reminds me of that film 'American Beauty' when Kevin Spacey catches his wife out having an affair and his co-worker says 'you are so busted'
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • ess0two
    ess0two Posts: 3,606 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Cmon brit.........this needs putting to bed,are you purposely talking the market down,in an attempt to pick up more property for your btl portfolio.
    Official MR B fan club,dont go............................
  • brit1234
    brit1234 Posts: 5,385 Forumite
    damanpunk wrote: »
    The one you were speaking about on LLzone that Cleaver/Chucky linked


    The same one that you were going to take the rate rise hit on in 2007 instead of your tennants?

    You may of found similar on singing pig too, but got banned twice :rotfl:

    No did a bit of devils advocate, see if I could generate some honest views from Landlords . You will see a change in posts from start to finish.

    Still a lonely portential FTB in reality :cry:
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • damanpunk
    damanpunk Posts: 192 Forumite
    We can move forward now :money::beer::eek::A:T:confused::money::money:
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    brit1234 wrote: »
    No did a bit of devils advocate, see if I could generate some honest views from Landlords.

    So you were using a bit of dishonesty to try and get some honesty from people who you think are dishonest?
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    What was that Chucky, pull the other one icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • brit1234
    brit1234 Posts: 5,385 Forumite
    Cleaver wrote: »
    So you were using a bit of dishonesty to try and get some honesty from people who you think are dishonest?

    Well put, yes.

    Now back to the 3 million in Negative equity and further price falls. There is nothing supporting the recent rises, its just re inflating the bubble.

    Blanchard discusses a portential solution of running inflation at 5% for years to wipe out the negative equity. He says its the only solution but a bad one I think
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    brit1234 wrote: »
    Well put, yes.

    Now back to the 3 million in Negative equity and further price falls.

    It's been a busy evening. We've been out for sushi and now I have Life on BBC1 to watch and then the Warren Buffet thingy on the iPlayer. Can we get back to the doom and gloom tomorrow?
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