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Yes house prices are falling and will continue to fall. UK house prices are one of the biggest economic bubbles schemes in this pathetic country's history. It was pumped up after the dot com bubble burst, by our so called government and the banking cartels to keep the money men happy. It will burst as all bubbles do and the fact that the powers that be are busy pumping up the next bubble (which are ETFs) shows they know it's all over for this stupid housing bubble.
The British state has turned on the British people, everyone but the Politicians and Bankers are really starting to struggle, the cash and assets held by the worlds wealthy elite have increased by over 50% while we cannot find a job or a home anymore. Interest rates will begin to sky rocket soon and the bankers will begin stealing people's homes, when you factor in the fact that due to all the Collateralized debt obligations (CDOs) and other fraudulent asset-backed securities, your home is now worth far more to the bankers if you default (yes they bet against you with your money). So expect a frenzy of repossessions soon. Think I am being paranoid? Look over the pond to the US, The very banks that the American tax payers bailed out are now fraudulently foreclosing on their the home. But the American government just stand by and watches all this as they do not want to upset there masters.
If you are in trouble with your mortgage and need to sell, get it on the market now and discount it heavily. This is only going to get worse.' So while Mr. and Mrs. Delusional are still asking a quarter of a million pounds for their three bedroom council semi, you can make a sale and get out of the market. The smart money got out of the property market in 2007.
It may seem crazy but I am looking to buy a home at the moment. But I am a cash buyer and not in a chain. I'm also looking for a HOME and not an asset, so I will not being paying over the odds when prices are in free fall. I have viewed many properties over the past year but nobody will negotiate. Home sellers now fall into two categories, 'desperate' or 'delusional'.
The government, bankers, estate agents and sellers have done an outstanding job in keeping property prices as high as they are now. But prices will have to correct for the economy to even think about turning around. It is unavoidable. Prices have to be at 3.5 times the average salary (which is far lower than you think) for the housing market to function, Prices only got so high due to insane lending and cheap interest rates. The banks no longer want to lend as they are technically insolvent and the fact that they are borrowing money at 0.5% then lending at far higher rates, is the only reason most major banks are still trading. A monkey could make millions under those conditions.
Presumably the house prices are being kept high is because it will crash the asset sheets of the big banks. The ironic thing is that due to the fractional reserve banking system, the bank never actually invested anything in you or your home when you took out your mortgage, they just created a debt in your name on their computer and never actually risked a single penny.
Wake up Britain! You are being robbed!
By: Aleedsfella
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I will not stand for anything that's crooked or unfair
I'm strictly on the up and up
So everyone beware
If anyone's caught taking graft
And I don't get my share
We stand 'em up against the wall
And pop goes the weasel.
If London properties are excluded from statistics most of the country is sitting at Price\Earning ratios of 4-4.5; only slightly higher than the historic average of 3.7. A recovering economy in the 3-5 year term could quickly pull ratios back to historic levels. In addition mortgages are relatively affordable if you can convince a bank to give you one.
So don't expect to pick off forlorn distressed buyers just yet "leedsfella"; you're going to have to pay the full sticker price.
Chocolate, wine and coronation street......all better then
You buy a home for two hundred thousand pounds, you get a loan because the bank has put a value to match the price paid, AFTER TEN YEARS PAYING INTEREST TO THE MONEYLENDER you are told the value is now four hundred thousand pounds . interest rates rise and you find you cant pay, you try to sell like many others in the same boat, prices are forced down so investors can get cheap property, you then have the bank sell your property for two hundred thousand pounds, after all fees and payments are made the bank has the property for the value of the original loan, and you could still have tens of thousands of pounds to repay the bank, on top of the years of interest you paid the bank, I can go on and on, we must be insane to allow these parasites to control our lives,,, we need to bring back hanging,,,,
Jethro