House Price Crash Discussion Thread

poppy10_2

I haven't ventured into this thread before. It's a bit scrappy, no?

Quick word count in this thread:
Moron: 10
Idiot: 20
Stupid 56
Troll: 87



Now calm down everyone

m00m00

sadly this thread has attracted plenty of trolls (88) the odd moron (11), and a sprinkling of idiots(21)

people often react to events that are upsetting and traumatic by acting in an overtly emotional way, and this has been shown in this thread that a few people can't deal with the death of their beloved HPI.

Gonzo

m00m00 wrote: »

sadly this thread has attracted plenty of trolls (88) the odd moron (11), and a sprinkling of idiots(21)

people often react to events that are upsetting and traumatic by acting in an overtly emotional way, and this has been shown in this thread that a few people can't deal with the death of their beloved HPI.

OH MY GOD!!! HPI IS DEAD????? WHY DID NOBODY SAY ANYTHING?????

THE SKY IS FALLING!!!!!!!!!!!....AIIIEEEEEE!!!!!!!

jamescredmond

m00m00 wrote: »

sadly this thread has attracted plenty of trolls (88) the odd moron (11), and a sprinkling of idiots(21)

people often react to events that are upsetting and traumatic by acting in an overtly emotional way, and this has been shown in this thread that a few people can't deal with the death of their beloved HPI.

you forgot me moomoo. I'm a 'loser', if you believe pickledpink.

John_Pierpoint

Or to put it in the words of Chris Pilling CEO, "we need to pause for breath".

http://news.bbc.co.uk/1/hi/business/7325692.stm

Welcome back to the 1970's mortgage Q.

(I remember back in the 1970's, when trying to sell our first house for 11K, I found a really desirable buyer, bloke aged nearly 50 coming out of a "youthful" policing job into a security type job. Trouble was both of us were stuck in a mortgage Q and the Leicester Building Society & I, came up with the concept of "transferring the equity". IE Mr Buyer took on the mortgage already given to us 30 months earlier, as he was in a position to buy our house without requiring a bigger mortgage. I wonder if the concept might catch on during this credit crunch?).

There is a lid on lending to the housing market, it is being screwed down daily, so as there is a "gearing" multiplier at work, a blend of two things MUST happen. Houses stop selling and/or Houses sell at much reduced prices.

John

izzwizz_2

John_Pierpoint wrote: »

Welcome back to the 1970's mortgage Q.

I was thinking much the same thing when I heard this on the news this morning. I had an Abbey National account as a kid in the 70s in the hope of getting ahead in the mortgage game when I was old enough. Guess there will be a lot of First Direct current accounts being opened now...

BobProperty

Too late with the First Direct account http://uk.reuters.com/article/businessNews/idUKL0225624220080402

WTF?_2

John_Pierpoint wrote: »

There is a lid on lending to the housing market, it is being screwed down daily, so as there is a "gearing" multiplier at work, a blend of two things MUST happen. Houses stop selling and/or Houses sell at much reduced prices.

John, you angry bitter man trying to will a crash into existence, you

Don't you know that once you kick away the support from under something it just stays where it is? That's the first law of Bull economics.

As another Bull poster here claimed recently, what will obviously happen is that keen would be buyers will save up the tens of thousands of pounds shortfall between what the lender will give them and what the seller seems to think it's worth. Isn't it obvious?


Whoops, just remembered that April Fools was yesterday.
Sorry, you're absolutely right

carolt

!!!!!!? wrote: »

John, you angry bitter man trying to will a crash into existence, you

Don't you know that once you kick away the support from under something it just stays where it is? That's the first law of Bull economics.

As another Bull poster here claimed recently, what will obviously happen is that keen would be buyers will save up the tens of thousands of pounds shortfall between what the lender will give them and what the seller seems to think it's worth. Isn't it obvious?


Whoops, just remembered that April Fools was yesterday.
Sorry, you're absolutely right

Love it. Great post.

kingkano

!!!!!! is a mortgage q?

Is that shorthand for queue as in you are on a waiting list for a mortgage? Otherwise not being a housebuyer in the 70s I have no idea and need it explained. Many thanks.

Mr Buyer took on the mortgage already given to us 30 months earlier, as he was in a position to buy our house without requiring a bigger mortgage.

I guess one problem with this would be negative equity....?