**Don't Buy A House** House Prices Set To Crash!!!

mr.broderick

SquatNow wrote: »

Saying that because something hasn't happened that proves it wont is muppetry of the highest degree.

Do you have home insurance? House burnt down before? No? Then why bother? It hasn't happened yet so it never will! Been run over by a bus before? No? Then why bother looking before you cross the road!

The HPC people simple failed to comprehend how far the government would go to keep the debt monster alive...
=> They agreed to throw out all the Xsalary rules
=> They agreed to turn all debts into secured debts, secured on the debtees home.
=> They tweaked taxes to favour property speculators
=> They "invented" shared ownership
=> BTL mortgages were invented... now anyone could speculate in property

They did everything they could to increase house prices. Why? Because then everyone looked at their house value and felt wealthy... so they assume the government were doing a good job and voted them in again.

Labour took over just after the bottom of the last crash and have enjoyed massive HPI for their entire time in power. It would have stopped in 2005 but they dropped the rates to stupifyingly low levels and BTL took off.

House prices crash roughly every 18 years, give or take a year or so. That's not open to discussion, it's just fact. All economists know it.

Our 18 years is up. The crash is here. Even the estate agents are admitting it. 2004 prices will fly past as houses make their way to the bottom. Anyone who bought into the property pyramid in the last 4 years will weep.

Laugh at the "HPC Doomsayers" if you want, but we know that behind your laughter you are terrified out of your minds that the "HPC Doomsayers" were right and you, blinded by your greed, were wrong.

Here that whooshing sound at the window? That's the wind whistling past your house value as it drops like a skydiver in the dark, unable to see the bottom.

More worryingly than the trash you posted here is that you read it yourself again and edited it.

mr.broderick

caveatvenditor wrote: »

HAHA thread is soooo funny. The blindness of some people! HPC is here folks...and you are in s.h.i.t.e.

Cant wait to buy ya house dirt cheapo

You'll be lucky if they lend you the pen to sign the mortgage application.

carolt

Why would that be, mr.broderick? Do they forecast high inflation in pens too? I know inflation is on the rise generally, according to today's news - oil, food prices etc - but hadn't realised pens were going to be affected too.

Good to have experts on all areas posting on this forum.

mystic_trev

nollag2006 wrote: »

Oh how I love to rile the House Price Crash muppets !!!

Ladies and gentleman the muppet formerly known as nollag2006

fc123

Sqautnow and Carolet make some valid points..........the tipping pioint for many indebted households is already here and for those who have NO debt AND savings, though they may feel secure and immune from the coming economic fall-out....other things can affect them too....like redundancy or the bancruptcy of a major client (for those self-employed).
This credit crunch is DEF going to affect the way people have been running their finances for the past decade.........no more easy credit for starters.

ManAtHome

SquatNow wrote: »

The HPC people simple failed to comprehend how far the government would go to keep the debt monster alive...

Quite - and whilst they slip off into the sunset with their platinum-plated pensions, several generations will be picking up the tab (apart from it being a "new paradigm" where off-balancesheet liabilities - think CDOs, PFI, public-sector pensions etc donlt really exist).

As to who are the muppets: well, the top guys at several financial concerns who have lost a heap of dosh (and will lose much more over the next couple of years) have been walking away with the odd hundred million or so pay-offs, probably not them then...

carpetbelly

SquatNow wrote: »

Saying that because something hasn't happened that proves it wont is muppetry of the highest degree.

And saying something will definately happen when you don't know for sure either, well, that must be common sense eh.

SquatNow wrote: »

Do you have home insurance? House burnt down before? No? Then why bother? It hasn't happened yet so it never will! Been run over by a bus before? No? Then why bother looking before you cross the road!

:rolleyes:

SquatNow wrote: »

The HPC people simple failed to comprehend how far the government would go to keep the debt monster alive...
=> They agreed to throw out all the Xsalary rules
=> They agreed to turn all debts into secured debts, secured on the debtees home.
=> They tweaked taxes to favour property speculators
=> They "invented" shared ownership
=> BTL mortgages were invented... now anyone could speculate in property

Xsalary rules, I nearly wet myself... Who's rules are these? The governments? No, these were guidelines set down by the banks/building societies. Rules, well, you've given me my first laugh of the day. The way banks/building societies credit score has got a lot more accurate generally. So why shouldnt they make it on affordability than just a salary multiple? Things change and evolve, learn to deal with it.
And the government agreed to turn all debts into secured debts? Wow, my 2nd laugh of the day. So the government are directly responsible for people overspending on credit then thinking 'I know, I've got equity, lets use that to pay it off at a nice low interest rate secured against my home'?! More statements like this and I'll refer you to your own muppetry comment

SquatNow wrote: »

They did everything they could to increase house prices. Why? Because then everyone looked at their house value and felt wealthy... so they assume the government were doing a good job and voted them in again.
Labour took over just after the bottom of the last crash and have enjoyed massive HPI for their entire time in power. It would have stopped in 2005 but they dropped the rates to stupifyingly low levels and BTL took off.

Absolutely spot on, but is that a crime? It obviously persuaded the masses to revote them back in enough.

SquatNow wrote: »

House prices crash roughly every 18 years, give or take a year or so. That's not open to discussion, it's just fact. All economists know it.

Our 18 years is up. The crash is here. Even the estate agents are admitting it. 2004 prices will fly past as houses make their way to the bottom. Anyone who bought into the property pyramid in the last 4 years will weep.

Laugh at the "HPC Doomsayers" if you want, but we know that behind your laughter you are terrified out of your minds that the "HPC Doomsayers" were right and you, blinded by your greed, were wrong.

Here that whooshing sound at the window? That's the wind whistling past your house value as it drops like a skydiver in the dark, unable to see the bottom.

I wish I had your crystal ball to know this all as a 'fact'.

hierrodaknuckles

caveatvenditor wrote: »

HAHA thread is soooo funny. The blindness of some people! HPC is here folks...and you are in s.h.i.t.e.

Cant wait to buy ya house dirt cheapo

I find the glee expressed by some one here at the prospect of home owners facing repossession during the HPC so that they themselves can get a cheap deal pretty !!!!!!! disgusting really.

Yes, maybe those who have taken huge huge mortgages on a property may regret the decison they made, but hoping for people to lose everything is just wrong :huh:

I'm glad i bought 10 years ago when i was a teenager, i got lucky and I feel sorry for those that have had to borrow more than they can afford.

carpetbelly

hierrodaknuckles wrote: »

I find the glee expressed by some one here at the prospect of home owners facing repossession during the HPC so that they themselves can get a cheap deal pretty !!!!!!! disgusting really.

I totally agree and think it really shows a sign of the times we live in. And people wonder why the youth of today have no morals if people freely think like this eh.

carolt

Absolutely agree, fc123 - do try and remember to spellcheck your posts though next time, as it makes them look sloppy and ill-considered...