House Price Crash Discussion Thread

chrisandanne

John_Pierpoint wrote: »

So speaks a chocoloholic?

Yep...but who told you !! Large bars of anything I can get my hands on while reading HPC threads.....Bliss Ax

John_Pierpoint

chrisandanne wrote: »

Yep...but who told you !! Large bars of anything I can get my hands on while reading HPC threads.....Bliss Ax

Another financial expert joins the HPC thread; welcome.

The Business Editors[IMG]chrome://safe/content/protection.gif[/IMG]

... house prices in the South East of England (excluding London) and, amusingly, the Mars Bar index – an indicator of general consumer goods inflation. ...
thebusinesseditors.blogs.com/the_business_editors/RuthPrickett.html - 46k - Cached - Similar pages
[see 27/10/2005]

or more seriously:
Globalization, Poverty and Inequality: Between a Rock and a Hard Place - Google Books Result

[SIZE=-1]by Raphael Kaplinsky - 2005 - Social Science - 216 pages
One response to this was to develop artificial indicators of cross-national purchasing power - the 'McDonald's index' or the 'Mars Bar index' (how much the ...
books.google.co.uk/books?isbn=0745635539...

We all believe this don't we?

http://news.sky.com/skynews/article/0,,30100-1269025,00.html

John.

PS Pass the towel, I'm going for a cold shower.

[/SIZE]

pawpurrs

I am very unhappy in my current home, and have found a suitable house, needs complete refurb, for 25k more than my current home,I have a large amount of equity at the moment, I appreciate that could change
But that doent bother me as Iwish to move to a more expensive property,the problem is I am so unhappy I wish to do it now! That is making me nervous with the current expectation of a crash, wish it would hurry up if its coming and get it over with!

chrisandanne

John_Pierpoint wrote: »

Another financial expert joins the HPC thread; welcome.

The Business Editors[IMG]chrome://safe/content/protection.gif[/IMG]

... house prices in the South East of England (excluding London) and, amusingly, the Mars Bar index – an indicator of general consumer goods inflation. ...
thebusinesseditors.blogs.com/the_business_editors/RuthPrickett.html - 46k - Cached - Similar pages
[see 27/10/2005]

or more seriously:
Globalization, Poverty and Inequality: Between a Rock and a Hard Place - Google Books Result

[SIZE=-1]by Raphael Kaplinsky - 2005 - Social Science - 216 pages[/SIZE]
[SIZE=-1]One response to this was to develop artificial indicators of cross-national purchasing power - the 'McDonald's index' or the 'Mars Bar index' (how much the ...[/SIZE]
[SIZE=-1]books.google.co.uk/books?isbn=0745635539...[/SIZE]

[SIZE=-1]We all believe this don't we?[/SIZE]

[SIZE=-1]http://news.sky.com/skynews/article/0,,30100-1269025,00.html[/SIZE]

[SIZE=-1]John.[/SIZE]

[SIZE=-1]PS Pass the towel, I'm going for a cold shower.[/SIZE]

John
I strongly disagree with this article...I once had a box of Ferrero Roche (sp ?)
that were hard and had obviously been too long on the shelf...I was VERY dissappointed...I still have flashbacks. :eek: Ax

p.s. If any executives of the makers are reading this article and wish to compensate me please get in touch.

chrisandanne

pawpurrs wrote: »

I am very unhappy in my current home, and have found a suitable house, needs complete refurb, for 25k more than my current home,I have a large amount of equity at the moment, I appreciate that could change
But that doent bother me as Iwish to move to a more expensive property,the problem is I am so unhappy I wish to do it now! That is making me nervous with the current expectation of a crash, wish it would hurry up if its coming and get it over with!

If you have lots of equity, are not bothered about a price fall and are unhappy where you are...why not just move ? That's always assuming you can find a buyer in the present climate. If you do and you get less for your house you can always ask for a reduction in the price of the house you wish to buy. Ax

pawpurrs

thanks for your reply.
My concern I guessismoving to a moreexpensive property at this time,and therefore possibly seeing a greater loss? Its also the cost of moving with stampduty etc.
The housing market is so difficult in this country a stable one in line with inflation would be good:p

chrisandanne

pawpurrs wrote: »

thanks for your reply.
My concern I guessismoving to a moreexpensive property at this time,and therefore possibly seeing a greater loss? Its also the cost of moving with stampduty etc.
The housing market is so difficult in this country a stable one in line with inflation would be good:p

I couldn't agree more !!. If you are very unhappy where you are, you could sell (if possible) and rent for a while, if prices then do drop significantly you will have made a clever move...it's a very difficult call at the moment and really it depends on how badly you want the house you have seen. You are in a good position though with plenty of equity and could probably get a good reduction on it with the dearth of buyers around. Ax

ramie_m

hi, new to this but feeling in need of some advice. We bought a wee apt in Cyprus 2 yrs ago. Took out a mortgage in Swiss Francs. Works out that after making payments of over £13k for the last 2 yrs we now owe more than we borrowed. Fixed rate of 3.99% sounded appealing - didn't think once about the fluctuation in currencies. Any advice would be helpful.. We are considering selling - feel its pointless to throw more money into it. HELP!!!!

kateharv

Hi all.

I'm wondering if anyone can give me some advice?

We bought our house last September with 100% mortgage (2.5x joint salaries). 5% of this is an unsecured loan at the same rate and term as the mortgage.

The house we bought was in need of a lot of work which we are in the process of battling through as and when we can afford it - new kitchen (only one room downstairs, kitchen and living room in one), new boiler, new water system (house was on very old shared system), new bathroom, get rid of artex throughout, general redecorating etc).

The house was marketed as a 2 bedroom back to back house, however the 2nd bedroom is in the loft and has space saver stairs up to it. So although the room is fine as a guest room it's not really practical for constant use.

We are due to come out of our fixed term on the mortgage in June 2009. What do people think our situation will be when this time comes round? What will be our chances of remortgaging now that there are no 100% mortgages about? Will the work we are doing to the house help?

Also, we were hoping to get a bigger house in the next couple of years.

I'm starting to really stress about the whole situation! Any advice appreciated.

thank you!

John_Pierpoint

ramie m when I was working in Switzerland, some 35 years ago, a pound bought 10.5 Swiss Francs. Can the property in Cyprus (would that be S.Cyprus?) be let out at a rate that goes a major part of the way to paying the mortgage?

kateharv can you afford to go on paying the loan on the lender's standard variable rate? Are the two of you likely to get significantly higher salaries in the next five years? Could your 11/2 bedroom property be let out at a rent that would nearly cover the mortgage? Any chance of coming into a lump sum?
If you find you are stuck there for (say) 5 years, why is this a stress creating situation?