Nice people thread part 7 - a thread in its prime

GDB2222

I have a lady plumber calling round soon, called Kate. I just thought I would mention it, as it gives me a chance to get my Kate joke off my chest.

A couple had quads, whom they called Kate, Duplicate, Triplicate, and Fournicate.








Edit: Shortened it. My mind was playing tricks with me.

zagubov

zagubov wrote: »

Go to Forum Search at the top of the page and inside the dialogue box click Advanced Search look up posts with yourself as post author and put in Ascending order. :beer:

Oh and kudos to Mercury99 for showing me the method. I'm rubbish at finding out this kind of thing on my own

sss555s

Thanks for putting a smile on my face Lydia.

GDB don't give up the day job just yet


Edit: It's better now you have edited it

GDB2222

As jokes generally go, it's not great, but as Kate jokes go it's one of the best.

GDB2222

Posted October 2004. My first post.

FWIW, I am convinced that house prices are going to go through the floor over the next 3 years. I lived through the property crash in the early 90's and did very well out of it, as it happens. Although the conditions are not the same, there are similarities, and the consequences are likely to be tyhe same.

The key point about the market at the moment is that high prices reflect a willingness of people to borrow as much as possible to buy property. People are willing to commit themselves at this level because they think that property prices are going to continue to rise.

That perception is now changing, and when it does so, the supply of buyers will dry up because nobody will take on a huge mortgage now if they reckon they can buy the same house in a couple of years' time for 10% less. There have been people posting here, saying that they think the market will correct by 10%.

The next stage is that there are always forced sellers. People die, divorce, become redundant, and they need to sell. What happens when a forced seller meets a market with no buyers? Obviously, they have to reduce the price drastically. This, of course, has an effect on market sentiment, so prices fall further, and so on.

The last time this happened there were two layers in the market. First, there were owners, sitting pretty, waiting for their price. Some of them sold at good prices. The other layer was the forced sales, which went through much cheaper. The house price statistics show an average of these two layers, and they do not reflect the truly drastic losses suffered by people forced to sell. The market in London fell as a whole by about 30%, but some of the properties being forcibly sold suffered far bigger drops.

The worst drops were in property which, deep down, nobody really wanted. These were properties bought at the height of the boom as a first step on the property ladder. When prices crashed, nobody wanted to buy studio flats. They could afford to jump that first step on the ladder and go for a 'proper' one or two bedroom flat. The same thing happened to ex-local authority property. I know personally of ex-council flats bought in the boom years for 60 to 70k which were knocked out as forced sales for 20k.

If you owned a desirable 3 bed house, you would not have seen the same sort of drop, and that is why the *average* price dropped by 'only' 30%.

Interest rates are far more benign than in the early 90's. Even so, when the perception changes, buyers will dry up, and the market will go into free fall. Fingers crossed, that's happening as we speak.

I hope I have not upset too many people.

So, not a very accurate prediction, really, but it was 3 years ahead of the actual crash. I had not anticipated that interest rates would be cut to zero and held at that level for five years and counting.

sss555s

I bought my current house in late 1990. The sellers had an offer of 17% higher than my winning offer exactly 1 year previous but had decided not to sell.
Over the next few years the value dropped between 5-10% and it was around 10 years until it was worth more than I paid for it.

It didn't matter to me as it was my home but I remember those times well as money was tight. I also remember when they put interest rates up to 15% :eek:

silvercar

PasturesNew wrote: »

Oh - I thought it was the frothy drink that was posted...

As for the bold bit, if I had to "name the 3 NPs who you think have the most wealth, combining income and assets" you'd be on that list.



You're a one-person-posh-alert

I've never really thought how much wealth people have. To be fair you have to divide what wealth you think I have by 2 as half of it belongs to OH.

Anyway does it matter?

DS1 says that it is cultural capital that counts, not money.

And on the subject of kids, I would hazard a guess mine are more expensive than most; possibly, but not totally, due to their age.

Wheezy_2

sss555s wrote: »

Think I'd be using kitchen roll before newspaper, depending on yesterdays headlines of course

Yeah, a nice big sheet of Thirst Pockets always does the job when loo-roll has run out.

SingleSue

Only 3 more presents to buy now! Managed to get my sister and brother in law's presents today, for the two it came to the whopping amount of £4.19 thanks to special offers. Actually though, they cost me nothing as I used my £25 Morrisons voucher, so two presents plus my contribution to Christmas day meal costs plus some of my normal weekly shopping for nothing.

Last of the big spenders here :rotfl:

Wheezy_2

My first post on MSE was in a thread about the Icesave collapse, late 2008. We had quite a bit of cash stashed away with them and it was squeaky bum time whether we would see anything back of it.

First post on NPT was in NPT2 :

Lots of parakeets around this year.
These ones : http://www.bbc.co.uk/naturestop40/ep5/s24.shtml

Noisy birds...