Its all over

[Tom Hark Preston Park]

I have one flat, so hardly a failed investment strategy. And the rent easily covers my payments. And I'm in Australia where we haven't been hit anywhere near as bad as the UK. So I'm not sure what point you're trying to make, but it's clearly a bit shit

No point really, just trying to work out what nerve I hit to make you call me a tool out of a clear blue sky. That'll be your one failed buy-to-let flat then.

Nevermind tho eh, maybe cut your losses, flog the failed investment off for a tenner to Hove Born Inbred and buy a hundred hectares in Woollawoollawonga or something

 

[Stumpy Tim]

No point really, just trying to work out what nerve I hit to make you call me a tool out of a clear blue sky. That'll be your one failed buy-to-let flat then.

Nevermind tho eh, maybe cut your losses, flog the failed investment off for a tenner to Hove Born Inbred and buy a hundred hectares in Woollawoollawonga or something

Not that it's any of your business, but I currently have $200,000 equity in the flat so I'm fine thanks. The reason I called you a tool is because you think it's funny to laugh at those people whose investments have failed. Shows you up to be the bitter old man that you are. People have been encouraged to buy-to-let over the past decade, so have been doing what the government have incentivised... I think people like that deserve some pity rather than being laughed at. There's no difference between the middle-class and the working-class when it comes to losing jobs and becoming bankrupt. Families lose their homes and security. But of course you think that's funny.

You're a bitter man who complains about Londoners invading Brighton, though you're from Scotland. Weird bloke

 

[Couldn't Be Hyypia]

Or just continue to live where we live and, er, live

As long as you have a job and can afford it.

 

[Guy Fawkes]

The aftermath will be repossessions, redunancies, spiralling debt etc all against the backdrop of rising food & fuel costs.

So yes for one U.Speilberg is right.

And dont even joke about the funding for Falmer.........

That was starting to happen anyway and had absolutely nothing to do with the recent bank trouble.

The problem has been building up for over a decade whilst credit was kept artificially cheap by keeping interest rates down and allowing the housing price rises to go unchecked.

Now the market is finally starting to naturally adjust back to realistic housing prices, but now the politicians are panicing because they are going to start to drop, - so their solution is to try to keep the housing market prices artificially high by trying to bail out those companies that acted improperly in the first place.

The politicians arn't going to let the banks collapse because their whole economic policy has been based upon heavy borrowing against house price rises. This has funded the credit boom, and now that prices look like dropping, that money they lent out has no longer got the equuity in the house prices that it was secured against.

Basically unless you own your own house or are a buy to let owner, or a family, The Government doesn't care, and are only interested in those groups as it is headline grabbing, - forgetting the fact that there have been more and more lower paid workers whose wages have been going up slower than tax increases by authorities obsessed with spending, meaning that these people are now struggling to even make ends meet, but they don't grab the headlines

One measure that would start to help the economy would be to raise the national minimum wage by a lot so that these low earners have extra money, money needed to help kick start the economy,

The problem has been that decision makes haven't been affected by rises in council tax etc, because their wage increase of say 2.5% covers these rises because they have a higher starting wage and if they are earning £30k, then their increase covers the 3% increase on a lower base starting point for bills. - They lowest earners are being asked to find money that they simply dont have, yet those with the wages needed to cover their bills and live comfortably, want to stop inflation, which would have helped those lower wage earners to at least have stayed at the status quo that existed before.

 

[Stumpy Tim]

Tim my income has gone down 75% this year so please don't tell me I am over reacting especially sitting in a good economy 12000 miles away.

Unc. You said WE're f***ed. WE're not. Some people (unfortunately you right now) are suffering - no doubt about it. But WE are not f***ed.

 

[Uncle Spielberg]

Ok I AM f***ed :yahoo:

 

[Stumpy Tim]

Ok I AM f***ed :yahoo:

I would say suffering is more accurate. And it's sad. Of course you'll have Tom laughing at you soon.

 

[Tom Hark Preston Park]

Not that it's any of your business, but I currently have $200,000 equity in the flat so I'm fine thanks. The reason I called you a tool is because you think it's funny to laugh at those people whose investments have failed. Shows you up to be the bitter old man that you are. People have been encouraged to buy-to-let over the past decade, so have been doing what the government have incentivised... I think people like that deserve some pity rather than being laughed at. There's no difference between the middle-class and the working-class when it comes to losing jobs and becoming bankrupt. Families lose their homes and security. But of course you think that's funny.

You're a bitter man who complains about Londoners invading Brighton, though you're from Scotland. Weird bloke

I moved here quarter of a century ago cos I'd been commuting down here every damn weekend for punk gigs since I was old enough to afford the fare. Brighton was seedy and shabby and where you lived was just where you lived. You lived in that place cos it was handy for going out. The thought of property INVESTMENT just never even registered. I love Brighton dearly, regard it as my home, and have more friends here than anywhere else. Whereas you obviously loved the place so much you moved about as far away across the planet from it as you could. And THAT's not weird?

Anyways, not going to argue the toss with you Tim, except on a non-personal intellectual level. For we are blood-brothers. Can't be THAT many Albion fans who have 'enjoyed' a police escort to Withdean just cos they happened to be walking past the bottom of the road from Preston Park station when a trainload of (Gillingham?) fans happened to be tumbling out and plod thought that we were pikeys and were under threat of attack from spotty fifteen-year-old ticketless Albion fans? The horror! The horror!

 

[Stumpy Tim]

Whereas you obviously loved the place so much you moved about as far away across the planet from it as you could. And THAT's not weird?

I moved because Sydney's a million times better in my opinion.

 

[Mtoto]

Surely the amount of equity you have in the flat depends on how much you could sell it for if you had to? And if no-one is buying, it's worthless. So when they jack up the interest rates next time your deal is reassessed, and you can't find a tenant, what then?

 

[aftershavedave]

USA $ 700 000 000 bail out rejected. Wall Street down 600 points so far.

The game is up. Can the last person to go bankrupt turn the lights out please

oh please behave

 

[Tom Hark Preston Park]

I moved because Sydney's a million times better in my opinion.

Has to be said that Oz is the only place on the planet I would leave Brighton for. Byron Bay to be precise. Absolutely stunning. And Sydney surely has to be the best PROPER City in the world.

 

[1066familyman]

........ People have been encouraged to buy-to-let over the past decade, so have been doing what the government have incentivised... I think people like that deserve some pity rather than being laughed at........

I think "people like that" are parasites personally. Keen to make a fast buck ( f*** it, we're all American now anyway) at the expense of those who can't afford to buy and have little or no social housing options.

The government have encouraged it because they aren't prepared to invest in social housing directly and would rather give this over to the private sector, essentially buy to letters. Quite prepared to let rent prices become over inflated too to meet the over inflated cost of house prices. Consequences ?.....buy to let sector heavily subsidised by housing benefit pay outs to keep the buy to let brigade in profit. Yet those in apparent 'receipt of housing benefit' ( low payed WORKERS ) get tagged as the parasites. Funny old world.

 

[Herr Tubthumper]

The Ironic thing is the USA economy and state and the whole Western Capitalist World are on their knees and on the edge of totally implosion and Bin Laden hasn't even had to leave his grotty little Cave. He will be over the Moon.

He might have had a sub-prime on his cave and been slung out onto the street?

 

[Herr Tubthumper]

Has to be said that Oz is the only place on the planet I would leave Brighton for. Byron Bay to be precise. Absolutely stunning. And Sydney surely has to be the best PROPER
City in the world.

Berlin is the correct answer.

 

[Chicken Runner61]

If the worst that happens is that house prices drop then we will be lucky. Its more likely that businesses will collapse and thousands will lose their jobs.

We are in unchartered waters here and even top economists do not have a clue what actually will happen.

Its not worth worring about it but thinking everything will be ok is just plain dumb.

 

[Tom Hark Preston Park]

He might have had a sub-prime on his cave and been slung out onto the street?

Nah, OBL will have a buy-to-let cave in The Cotswolds worth 300K. Oh hang on, no, that was five minutes ago. Better make that 275K. Um, ok, 250K? 240K ONO?

 

[steward 433]

Nah, OBL will have a buy-to-let cave in The Cotswolds worth 300K. Oh hang on, no, that was five minutes ago. Better make that 275K. Um, ok, 250K? 240K ONO?

THPP i will give you £1.89 in loose change for it

 

[Gully]

Has to be said that Oz is the only place on the planet I would leave Brighton for. Byron Bay to be precise. Absolutely stunning. And Sydney surely has to be the best PROPER City in the world.

...the answer for me is Cape Town!

 

[Tom Hark Preston Park]

THPP i will give you £1.89 in loose change for it

Dammit! Just accepted 45p from Hovel Born Inbred