A crash is a crash is a crash.

Sibley

Geneer.

Do you want to stop now or would you like me to buy you a big red bow tie that spins around?

You have been humiliated. :rotfl:


Houses are more expensive in SE London and Kent than the 2007 benchmark.

Your HPC gang never got your crash and will probably never own a house. It's not nice to say but true. The sooner you accept that fact and get on with your lives the better.

I can't really add anything that Turnbull or Mctavish have not already pointed out to you.

Go on. Go back to HPC now and tell them how you put us right on here.:rotfl:

It must be lovely on there for you. Now they have banned anyone who doesn't want a crash you might as well raise the bar and start hoping for a 99% drop in prices.

smeagold

Sibley wrote: »

Geneer.

Do you want to stop now or would you like me to buy you a big red bow tie that spins around?

You have been humiliated. :rotfl:


Houses are more expensive in SE London and Kent than the 2007 benchmark.

Your HPC gang never got your crash and will probably never own a house. It's not nice to say but true. The sooner you accept that fact and get on with your lives the better.

I can't really add anything that Turnbull or Mctavish have not already pointed out to you.

Go on. Go back to HPC now and tell them how you put us right on here.:rotfl:

It must be lovely on there for you. Now they have banned anyone who doesn't want a crash you might as well raise the bar and start hoping for a 99% drop in prices.

Your a fantastist, Housing bears as they're called often suffer from the same abuse as gold bugs, classed as some crazy fringe group with deep seated bitterness and a desire to see others suffer, which is rubbish. I was a home owner for 7 years, a very happy one, and walked away with alot of profit once I saw the writing on the wall. I'm open minded and have the money to buy now but I'm not buying now because the EVIDENCE points to a further deteriation in the housing market so I'm quite content to sit back awhile and wait. If the economy suddenly turns round and we enter a new boom period of growth and prosperity I will buy and buy quick but that is simply not going to happen and you know it.

smeagold

And don't try and kid me Sibley about how fantastic living abroad is I lived abroad for nearly 20 years in nearly a dozen countries always with a fine woman, alot of money and an easy life but always, always was the niggling thought, the knowledge, that one day I must return to my native land, and all other expats had the same feeling too. You will return to the UK too or else end your days in a foreign land where you know you don't belong and the older you get the less attractive it becomes. Mark my words. I've often noticed that those that proclaim how happy they are on the surface are often the most miserable deep down, I see that in your posts too.

Sibley

Your a fantastist, Housing bears as they're called often suffer from the same abuse as gold bugs, classed as some crazy fringe group with deep seated bitterness and a desire to see others suffer, which is rubbish. I was a home owner for 7 years, a very happy one, and walked away with alot of profit once I saw the writing on the wall. I'm open minded and have the money to buy now but I'm not buying now because the EVIDENCE points to a further deteriation in the housing market so I'm quite content to sit back awhile and wait. If the economy suddenly turns round and we enter a new boom period of growth and prosperity I will buy and buy quick but that is simply not going to happen and you know it.

No get it right.
You thought you were being clever and sold up. Instead of paying down your own mortgage you now pay somebody elses. House prices anywhere decent have not dropped. You hoped people would lose their homes and this would help your dream but the government stopped that happening.

Now you can either accept your rent money as a loss and buy or carry or and lose more.

I even looked at houses on my estate for sale before I replied to you. Just to confirm and yes. They are not only more expensive than in 2007 they are selling.

It feels so one sided being a bull now. I suppose that's why HPC banned them all.

You need to go back over there fella. You are looking like the village idiot when you post on another board. We have two sides on here. You are not used to it and it shows.

smeagold

Sibley wrote: »

No get it right.
You thought you were being clever and sold up. Instead of paying down your own mortgage you now pay somebody elses. House prices anywhere decent have not dropped. You hoped people would lose their homes and this would help your dream but the government stopped that happening.

Now you can either accept your rent money as a loss and buy or carry or and lose more.

I even looked at houses on my estate for sale before I replied to you. Just to confirm and yes. They are not only more expensive than in 2007 they are selling.

It feels so one sided being a bull now. I suppose that's why HPC banned them all.

You need to go back over there fella. You are looking like the village idiot when you post on another board. We have two sides on here. You are not used to it and it shows.

let me give you a run down chump

bought 2002 sold 2008 profit:95k(interest only mortgage)
2008 invested in gold and silver profit(to date): 70k
rent for last 2 years -18k
net profit: 150k(and its all liquid) not counting original capital, savings and other assets. No debt. no problems. Happy with my wife (not a paid for catalogue one)and my child in a beautiful half million pound rented house in a lovely somerset village(no mosquitoes) with no hassles, the landlord even cuts the grass, blocked drains and new boiler? not my prob. have fun in Thailand chump what are your assets and just how liquid are they? I'd guess zero. enjoy the crash.

smeagold

And tell me Sibley when was the last time you came back to the UK for a holiday? relatively wealthy expats normally manage it 2x a year especially at xmas to see their families. I reckon you can't even scrape the money together to manage it once every 3 years. Your living off your £200 rent money arn't you? with no assets and a borderline broke bank account. Don't try and kid me mate. I get the picture. Your sat over there in a 3rd world country pretending to be rich. The thought of coming back to the Uk and being poor must terrify you, no? I been there too also, but the min I got back in 2003 I built a company from scratch with a 1.3 mil turnover in 3 years, but doubt you could manage that tho eh? don't try and pretend your something your not with me mate, I'll see right through you.

Loughton_Monkey

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Sibley

Your living off your £200 rent money arn't you? with no assets and a borderline broke bank account

If I'm getting £200 rent money that means I have an asset yeah?

I get free flights to UK as well. I work for a great company. You have it all slightly wrong old chap.

I don't think it's nice saying stuff about my wife either. I thought this board was about house prices. Join a Thai dating site if you want to know if you want to speak about mail order brides.

julieq

As far as I'm aware, no "bull" has ever said there hasn't been a correction. To claim otherwise is an utter misrepresentation. It's taking something that wasn't said and proving it false, which proves nothing.

What we have said though is that there is no basis for expecting further falls, and given the contraction in prices came off the back of a complete collapse in confidence in banking, followed by mortgage rationing, you've had your chips now basically as regards a fall.

But since the OP is posting a graph, let's explain why it doesn't say what he thinks it says. I can do this without even invoking inflation (which was much higher then than now and was acting over a longer period).

Peak in 1990s, let's say £70K. Trough, let's say £60K. Ratio of peak to trough: 1.167.

Peak in 2000s, let's say £200K. Currrent position, let's say £170. Ratio of peak 1.176.

I.e. the correction is roughly the same. It LOOKS bigger on the graph, because of the gearing effect at higher nominal values, equal percentage fluctuations give larger changes. Which demonstrates the danger of interpreting graphical data without bounding sanity checks.

If you include inflation, the current correction is far smaller, as others have noted. The current fall was over a shorter period, allowing inflation less time to be a factor, and the rate was far lower anyway.

IveSeenTheLight

julieq wrote: »

Peak in 1990s, let's say £70K. Trough, let's say £60K. Ratio of peak to trough: 1.167.

Peak in 2000s, let's say £200K. Currrent position, let's say £170. Ratio of peak 1.176.

I.e. the correction is roughly the same. It LOOKS bigger on the graph, because of the gearing affect at higher nominal values, equal percentage fluctuations give larger changes. Which demonstrates the danger of interpreting graphical data without bounding sanity checks.

Indeed, I posted up the facts a long time ago but IIRC, the correction in late 2007 / 2008 was indeed greater both nominally and as a percentage to the 90's.

I don;t have the time at the moment, but someone should post up the Nationwide graph which can show that prices have reverted close to the mean.

As it's close to the mean, in my eyes, this represents a correction (corrected to the mean) and not a crash.

If prices were to drop significantly below the mean (quite possible even with stagnation) then you could possibly consider it as a crash.