Panorama tonight - Bursting the house price bubble.(merged)

Rover

The writings all over the lav walls folks

Rover_18-12-07 wrote:

Agreed.
But is now the trough - the time to buy. Or is it just the start of a slide ?
Answers on a postcard to :

Michael Coogan
Council of Mortgage Lenders
North West Wing, Bush House, Aldwych, London WC2B 4PJ

The lucky winner will receive a 4 bed detatched house, with a 30 year mortgage and 10 years of negative equity.

Incidentally, I think this Coogan character is to the housing market, what Dr Harold Shipman was to geriatric care. And should be burned at the stake as soon as possible.

Rover_18-12-07 wrote:

I did not predict 40% falls, the IMF and Greenspan said UK housing is 40% over-valued.
I will dig out the links if I have time later.
King was on TV last week wrt the other aspect.
MY prediction was of 10%+ and quickly. The 'disaster' has already happened, sentiment has turned, fundamentals don't add up. Relevant share prices have halved, I could go on but you are still in denial.

I did not mention crash, I said correction and it will go on for years. Leaving the great British public paying interest on a depreciating assets whilst the orchestrators move on to the next bubble.

Trollfever

And there is no way that I would buy a Rover for £2,000 without looking at it!

fc123

SquatNow wrote: »

We all spend the rest of our lives, living in poverty, working to pay off the debt knowing that at the end of it we will have absolutely nothing to show for it.

Not everyone.....think of the non-doms...(no, mistake, they are being squeezed out now by tax changes)
but the younger generation are going to have get used to protesting and trying to change things by DOING...whether that's by getting into politics, creating a business or whatever.

I, personally am outraged by the whole Tescopoly nature of our society and everything that it stands for........but I personally cannot change it...I am a "victim" of it (not that I'm very victimy)....but I do my own little bit....in the end the 20 somethings are going to have to get out there and make a stand.

...and a chicken farmer analogy would have been better.;)

fc123

PasturesNew wrote: »

I liked it in the olden days.

You borrowed 3x your salary max.
You saved a deposit.
You bought somewhere.
You lived in it.quote]

Me too.....I miss the simplicity of the olden days too.
The thing that really bugs me is the flash guys who have cleaned up on all this and are safely sitting in their 10 bed mock tudors, cash in hand, patting themselves on the back and laughing at the mess they created.:mad:

SquatNow

PasturesNew wrote: »

I liked it in the olden days.

You borrowed 3x your salary max.
You saved a deposit.
You bought somewhere.
You lived in it.

Or you didn't buy at all, because let's not forget, even though prices were lower - with a deposit needed and a cap on the income multiple, there were still problems with affordability for many people.

The difference of course, is that struggling to get on the property ladder with a 3x mortgage is far less likely to end in tears than a mortgage at 6x income.

CYBERCIDERSAVER

poppy10 wrote: »

Yes I know, my post was emphasising yours, not disagreeing with it

Sorry. I thought you meant they would just find other ways of making it affordable apart from gifted deposits!!!:beer:

I am in the process of setting up a petition at no. 10 for Banning gifted deposits. Will post a link when it's set up.

Pobby

I saw the program about pensioners living in poverty,well at least the first half and then over to the repro program.I was sick to the stomach to see how the poor pensioners were forced to live in 2008,totally f

---

unbelievable.These folks paid their taxes I would presume,paid into the state for years and left to fester and die in appalling circumstances whilst s---- politicians,weekly are exposed for sleaze,grab, and stuffing their noses in the trough.Still what the f---,we don`t have to think about all that as long as we can have Jane Goody and all the other cultural benefits of living in the UK.
Change channel at 8.30 pm,not really surprised,I have been an housing bear for many a year.The guy(about my age) who bought the overpriced house for about 300k in Leeds,you couldn`t make it up.then the woman who took on 4 properties without looking at them---I could just go on.

I just give up!

CYBERCIDERSAVER

Trollfever wrote: »

And there is no way that I would buy a Rover for £2,000 without looking at it!

I bought a Rover on ebay for £1750 without looking at it!!!

I was ill, it was late and it seemed a good idea at the time!!

fc123

Pobby wrote: »

I just give up!

Don't give up..please! Even just ranting on here is better than doing nothing.
I just feel SO :mad: :mad: :mad: :mad: :mad: tonight...can't even type out into words how !!!!!! off I am.

housepricecrash

Part 1
http://www.youtube.com/watch?v=0_mzhJh-JlQ
Part 2
http://www.youtube.com/watch?v=NnJZWILUSbk
Part 3
http://www.youtube.com/watch?v=S-eiC1PdNkE