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

SquatNow

CYBERCIDERSAVER wrote: »

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!!

You interested in a (rover) MGTF then?

Am selling to buy a 4x4 as it will survive the coming depression better... it's easier to drive over other cars in a 4x4 than in a convertible.

fc123

SquatNow wrote: »

You interested in a (rover) MGTF then?

Am selling to buy a 4x4 as it will survive the coming depression better... it's easier to drive over other cars in a 4x4 than in a convertible.

:rotfl: :rotfl: :rotfl:
If you can afford the fuel that is.

sdooley

Squatnow I suspect your signature has been squished because it wasn't nice. See Martin:

Note from Martin:
It’s my aim to make this a great place to be for people to chat about saving money and build a MoneySaving community, free from nasty comments, sales techniques, people driven by profit, advertising and confusion. These rules have been designed to help that. Yet remember this is a privately owned site. Posting is a privilege, not a right. Any posts or anyone that threatens the site’s resources or makes it a worse place to be will be stopped appropriately solely at the discretion of MoneySavingExpert.com with or without reasons given.

SquatNow wrote: »

I do NOT appologise for Hitler! I'm just saying that land speculators, (more so the big multi billion ones but BTLers have no more morals) cause massive suffering on the same or greater scale.

This from the person who protests that he only posts rational arguments. A Stalinist might agree that the petit-bourgeois (i.e. BTLers) in a Western social market system were morally equivalent to the Nazis (or even say they are worse); Stalin's philosophy was discredited in Kruschev's 'secret speech' when he revealed the hundreds of thousands killed in 'administrative interrogation' and the gulags, later worsened by the revelation of the terror famines. Stalin was wrong and so are you.

I suspect I went to a far more ordinary comprehensive school than some dilettant quasi-socialist squatter.

As for the substantive issues discussed in the programme.

It is shocking that solicitors ignored the 'yellow card' mortgage advice warning again after a previous batch were burnt in the last crash.

Also sad that so many first time buyers will have fallen for the hype of 'what the house next door sold for'.

But most importantly it is rubbish (for everyone who pays for the place they live in) that the gradual improvement in our housing stock (and the building of much needed new housing) will likely be stunted for a couple of years while the excess is weeded out of the financial system.

As for buy-to-letters some will have been party to fraud and they are quite likely, if they got on the boat late, to suffer. For example the lady on the Panorama programme declaring bankrupt with c. £500,000 negative equity, is unlikely to be granted a 'quick release' from bankruptcy - which can last five years or more in cases of apparent fraud.

If your signature had said you were looking forward to BTL fraudsters going to jail, most would agree. But (a) there are buyers who are innocent victims and (b) there is a massive moral distinction between hoping that criminals are punished according to the law and wishing for their mass suicides (as your signature used to).

Be nice

PasturesNew

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.

Ah, YOU all. I have no debt.

CYBERCIDERSAVER

SquatNow wrote: »

You interested in a (rover) MGTF then?

Am selling to buy a 4x4 as it will survive the coming depression better... it's easier to drive over other cars in a 4x4 than in a convertible.

An MGTF? you a gay hairdresser?? or napoleon sized estate agent??

No ta. Once bitten, twice shy.

John_Pierpoint

adr0ck wrote: »

the thing is squatnow...i do agree with a lot of what you have to say...but you spoil it with your statements along the lines of .........buy to letters are more more evil than Hitler

theres just no need for it

grow up and read some history books (or at least watch some films)

i hope that when you do you will have enough humanity to realise how ignorant your comparisons can be

It is interesting that the program quoted "research that BTL's damaged the FTB's market"
.........Its the rich what gets the pleasure, its the poor what gets the blame............

So who was the worse historical figure, Hitler or Stalin. One was unhinged and drunk on politics & power. The other was a statesman and family man, whose people died in their millions and that was before they fought a proxy war for Uncle Sam.

hudo1968

In my neck of the woods I have witnessed a lot of developers building property, then buying them and pocketing the vast profit, if the prices crash they will just buy more property cheaper and allow the people they conned into getting the mortgages go bust.

MiserlyMartin

What a fantastic programme this was. Finally some exposure to the masses of the artificial ramping up of land registry values that quite a few of us have known about for a while now. These things were ignored. Now 'the chickens are coming home to roost' (to quote a line from the programme). They are indeed. Expect to see more such exposures as this crash and recession plays out. I think this is similar to the sub-prime situation in America. Surely this crash is full on now as there is no clear floor to house price values when all the data has been fiddled for so long. Quite scary actually.

Lets look forward to the next programme on ITV on Wednesday.

harryhound

Out of interest, I did an "advanced search" for both Thamesmead & Nottingham.
I got quite a few hits, here are two examples:

http://forums.moneysavingexpert.com/showthread.html?p=6314418&highlight=Thamesmead#post6314418

http://forums.moneysavingexpert.com/showthread.html?p=6947579&highlight=Nottingham#post6947579

Looks like the BBC is catching up with Moneysavingexpert.com (or getting us to do the unpaid research;))

Harry

PS In the good old days:
http://forums.moneysavingexpert.com/showthread.html?p=1832145&highlight=Thamesmead#post1832145

suffolkb

Housepricecrash - thank you for the links to the program.
Just over 4 years ago, I nearly bought a new build groundfloor flat in the Riverside block in Sheffield. I didn`t go ahead as it was over £1000 pa to park in the car park nearby and only the 2 bed flats got a parking space.Really glad I didn`t, especially as I saw it on the news last year underwater.
A look on Rightmove suggests that prices are virtually the same now as then in those flats, whereas my little 2 bed terrace in a quiet Suffolk village has increased by 50%, so I should be able to cope with any falls. No intention of selling though as I really like it here.
If I remember right, they were offering to pay my 5% depositback then. A lucky escape really.