'We've reached a tipping point' Signs of house price weakness

Bubble_and_Squeak

Crashy_Time wrote: »

:rotfl:


http://www.youtube.com/watch?feature=player_embedded&v=2NQIPVqLMUg

stone roses was my era

https://www.youtube.com/watch?v=HaNuQBmy_8o

"ring a ding ding ding i'm going down"

Bubble_and_Squeak

padington wrote: »

The simple facts always escape you. How else could someone afford to buy a 1.5 plus million house if they were a teacher from a humble background.

It's just an indisputable fact that new house buyers in Muswell hill must be from a unusually well financed demographic.

... And that's a clear shot to the bow for anyone clinging on to the idea that average wages are a key determinant with house prices in an extremely not average city.

surely areas like muswell hill are exceptions.
places like stratford and walthamstow inflated up till april but are now coming back down because no normal person on normal wages can afford to live there.
muswell hill has always been a bomads playground.

Crashy_Time

padington wrote: »

The simple facts always escape you. How else could someone afford to buy a 1.5 plus million house if they were a teacher from a humble background.

It's just an indisputable fact that new house buyers in Muswell hill must be from a unusually well financed demographic.

... And that's a clear shot to the bow for anyone clinging on to the idea that average wages is the key determinant with house prices in an extremely not average city.

Don`t know about others, but my key determinant is the amount of available credit, plus sentiment. Average wages ceased to matter some time ago in this bubble. Again it will be denied and twisted on here, but surely the numbers employed in well paid financial services job went the same way as sales volumes after the crash (massive drop followed by slow crawl back to about half the peak?)


If people with more bonus than sense are bidding up house prices in parts of London, then the correction will be all the more brutal the next time they all get laid off :T

officeuk

The bulls have gone very quiet. Where are you Hamish?

The reason why these bulls are desperate for their houses to rise in value is because it makes them feel better than the "scum" who rent and pay the bull's mortgages. Elitists.

I feel sorry for their kids when they get smashed with a massive inheritance tax bills. And to pay the bill they need to get massive multiples of salaries.

MobileSaver

officeuk wrote: »

desperate for their houses to rise in value is because it makes them feel better than the "scum" who rent and pay the bull's mortgages. Elitists.

No-one is desperate for their houses to rise in value, we just do not believe that house prices will crash by up to 50% as the HPC crowd would have you believe.

officeuk wrote: »

I feel sorry for their kids when they get smashed with a massive inheritance tax bills.

You feel sorry for the kids who inherit £650,000 tax-free and have to pay 40% tax on anything above that?!?!? :rotfl:

I feel sorry for the kids whose parents had a choice but chose to rent and left their kids a big fat zilch but, hey, at least there's no tax to pay...

Crashy_Time

officeuk wrote: »

The bulls have gone very quiet. Where are you Hamish?

The reason why these bulls are desperate for their houses to rise in value is because it makes them feel better than the "scum" who rent and pay the bull's mortgages. Elitists.

I feel sorry for their kids when they get smashed with a massive inheritance tax bills. And to pay the bill they need to get massive multiples of salaries.

The real reason is that many of them borrowed too much, but Shhhh...don`t tell anyone... :money:

Crashy_Time

MobileSaver wrote: »

No-one is desperate for their houses to rise in value, we just do not believe that house prices will crash by up to 50% as the HPC crowd would have you believe.



You feel sorry for the kids who inherit £650,000 tax-free and have to pay 40% tax on anything above that?!?!? :rotfl:

I feel sorry for the kids whose parents had a choice but chose to rent and left their kids a big fat zilch but, hey, at least there's no tax to pay...[/QUOTE]


So there is no wealth that can be passed on other than property wealth? (and let`s face it a lot of that will have evaporated before any of todays kids get a sniff) Posts like these show just how dumbed down many of the posters here actually are.

padington

officeuk wrote: »

The bulls have gone very quiet. Where are you Hamish?

They spend most of the time in the invite only section of the forum.

MobileSaver

Crashy_Time wrote: »

So there is no wealth that can be passed on other than property wealth?

What other "wealth" did you have in mind where there are verifiable figures confirming that renters have or pass on more of it than home owners?

Crashy_Time

MobileSaver wrote: »

What other "wealth" did you have in mind where there are verifiable figures confirming that renters have or pass on more of it than home owners?

Is that the best response you could come up with? Have you got some silly little chart all ready to post that backs up your beliefs? If you still believe that property is "wealth" you are beyond help IMO.