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" Prices wont fall in my area" - why do some say this?
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This can be explained by a Poll Panorama had for its recent program on the state of housing market.
55% of people thought a drop in the value of Property was a good thing.
85% of people believed the value of their home would not drop :rotfl:0 -
"Prices wont fall 'round here"
I have found that this mindset exists from Scotland to Lands End, Essex to Gloucestershire where many feel thier particular area is special and thus crash - resistant.
CAN SOMEONE EXPLAIN THE LOGIC PLEASE?
My property value won't drop because it's in wonderful condition in a desirable area and Mrs C and I are the kind of sellers every buyer would think it a genuine privilege to deal with.
Of course it's a mildly troublesome fact that if everybody else's property value drops, but ours does not, then no-one will ever be in a position to experience the honour of dealing with us when we come to sell -- and so the market will expose our delusional folly.
For the time being, therefore, I guess Mrs C and I will just have to get our spaceship out of our double garage (Tudor facade, flock wallpapered walls, easily converts into an office for a banker or snake oil purveyor) and return to our different planet.
Trouble is, it's starting to get a bit over-crowded up there. And even we're getting fed up with all this talk of how craters aren't the investment they once were.
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Oh and Aberdeen is special London salaries, Newcastle cost of living
Put this in your Aberdeen pipe and smoke it.
Aberdeen ain't special, and from what I can gather, is under the squeeze on budget.
news.scotsman.com 18th May 2008The finances of Aberdeen City Council have now been called to account following drastic budget cuts of £27m.Aberdeen City Council's £50m overspend between 2002-2007 led to the Accounts Commission probe and drastic cuts that will affect the whole city.0 -
Stage 1: Denial 'Prices won't drop in XYZ area because of ABC'
Stage 2 : Anger, well any number of threads on here over the past couple of days
just simple basic psychology
mmm I'm not convinced moomoo. It seems we are in a unique situation. Sellers not budging, buyers not buying, hardly any good deals about. We are at a stand still. The anger i feel is from the bears as they are in no mans land, they are trying to twist and spin this anger on to the bulls but it is just not happening, i may be wrong but i feel this could be my most accurate post to date..0 -
the most aggresive posts by far in general are from those of a bullish persuasion on this forum, and there's been an increasing number of them of late
that's not to say that there's no bears who are pointlessly antagonistic for the sake of it, because there are, and that's why a 'bear' is the only person on my ignore list.
also notice the every increasing 'anger' towards gordon brown that was very much lacking during the 'boom years'It's a health benefit ...0 -
The prices in London COULD fall faster and harder than elsewhere in the country.. The outlook of many people, that London is a special market which always outperforms the rest of the of the UK in HPI possibly why the prices in London have become so inflated in the first place IMHO.
Does anyone have any data on London average earnings vs average house price in London against average earnings in the rest of the UK vs average UK house prices excluding London?
PS What has council overspending got to do with house price/earning ratios?0 -
PS What has council overspending got to do with house price/earning ratios?
Well if you read the article you will see they need to take some stringent budget measures, which has a knock-on effect in many ways.. which might make Aberdeen less of a city of culture and refinement that mitchaa would like it to be.
The city's oldest swimming baths have been closed, and ice-rink, education budget cut and teachers jobs cut, disabled centres funding halted ect ect. What's it got to do with house prices in Aberdeen? Well it doesn't seem a healthy recipe for increasing house prices when council funding for major things in the city is being slashed left right and centre.The Federation of Small Businesses in Scotland fears the cuts will affect a large number of businesses in the city, leaving a "bad flavour" in the mouths of those trying to work through the problems.
Aberdeen branch chairman Andy Willox warns: "The business community as a whole is upset. We're ambassadors for the city – the cuts are not good news for the business sector.
"The closure of services will have a disastrous knock-on effect on many small businesses trying to make a living. The closures will cut back the work of contractors such as plumbers, and computer maintenance firms – everyone is affected.
"The cuts have become a hot topic of conversation which has left a bad flavour in the mouths of all involved. The Trump (golf resort] situation was bad enough and will affect inward investment, particularly in the oil and renewable energy sector. Unfortunately, it sends the message out that Aberdeen is closed for business."0 -
So none of the councils in London have ever had their spending capped? I think the oil industry may have a tad more effect on the average income in Aberdeen than the Councils cutbacks. The public sector may possibly have slightly more effect in London as it is the seat of Government, and most of the Quangos are based there! A council overspending andbeing subsequently capped, when it has such a large non-governmental revenue stream, has little to do with the affordability of the housing stock to the local population, How many publicly funded ice rinks are there in there in Greater London? Are there newer swimming baths in Aberdeen that have made the oldest one redundant? If the government departments (and the Quangos) and all their staff were distributed throughout the UK I think that London house prices would be effected very slightly...0
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So none of the councils in London have ever had their spending capped? I think the oil industry may have a tad more effect on the average income in Aberdeen than the Councils cutbacks. The public sector may possibly have slightly more effect in London as it is the seat of Government, and most of the Quangos are based there! A council overspending andbeing subsequently capped, when it has such a large non-governmental revenue stream, has little to do with the affordability of the housing stock to the local population, How many publicly funded ice rinks are there in there in Greater London? Are there newer swimming baths in Aberdeen that have made the oldest one redundant? If the government departments (and the Quangos) and all their staff were distributed throughout the UK I think that London house prices would be effected very slightly...
Fine simcla, your points are well taken, but I can only gauge the situation there by some insightful comments from the organisations like the Federation of Small Businesses for Aberdeen (not some Aberdeen HPI extremists of the forums).. in which they spell out their fears and positions.
It might not be fully priced in to the equation of Aberdeen's current house pricing situation, these things need some time to kick in, but at least it is an honest alternative view (from respectable news source) from mitchaa's ramping that Aberdeen's regional property market is somehow special and is unlikely to suffer."The closure of services will have a disastrous knock-on effect on many small businesses trying to make a living. The closures will cut back the work of contractors such as plumbers, and computer maintenance firms – everyone is affected."The cuts have become a hot topic of conversation which has left a bad flavour in the mouths of all involved. The Trump (golf resort] situation was bad enough and will affect inward investment, particularly in the oil and renewable energy sector. Unfortunately, it sends the message out that Aberdeen is closed for business."0 -
"Prices wont fall 'round here"
I have found that this mindset exists from Scotland to Lands End, Essex to Gloucestershire where many feel thier particular area is special and thus crash - resistant.
CAN SOMEONE EXPLAIN THE LOGIC PLEASE?
Could it possibly be that Cambridge isn't the only area to have a local newspaper (with massive revenue from publishing 'property news') who like to publish headlines similar to today's front page article?
http://www.cambridge-news.co.uk/cn_news_home/displayarticle.asp?id=319804&showallcomments=1#comments
Many people like to believe their local [strike]toilet paper[/strike] 'rag' and therefore [strike]are brainwashed into thinking[/strike] conclude that national news is talking about 'everywhere other than here'!“A journey is best measured in friends, not in miles.”
(Tim Cahill)0
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