Sky News find 40% drops...

mewbie_2

Dithering_Dad wrote: »

Strange how when houses go up, the equity gain is 'not real money', yet when houses fall in value, the equity suddenly becomes VERY real.

I need to add to this comment for my own clarity if no one else's.

House goes up in value. I feel rich. Actual money gained is an illusion unless I sell and crystalise the profit into hard cash.

OR

House goes down in value. I feel poor. Actual money lost is an illusion unless I have to sell and take the hit.

BUT

As you know very well from your own DFW work, the debt is the most real part of equation for those people with a mortgage. It may be illusory, but paying off a 200k mortgage on a property 'worth' 150k is a lot more depressing than against a property 'worth' 250k.

mrstinchcombe

!!!!!!? wrote: »

Did you watch C4 news this evening by any chance?

Certainly did, I can't believe how much praise Brown is getting tho for spending billions of tax payers money attempting to correct damage he did himself.

Its like me having a poo on your kitchen floor, getting a team of cleaners in to clean it up and then sending you the bill!

dervish

Dithering_Dad wrote: »

Someone found a couple of houses with large reductions from outrageous initial asking prices.

Move along, nothing to see here.

predictable rebuttal.

mrstinchcombe

The problem was that people were actually paying those outrageous initial asking prices a year ago!

Austin_Allegro

GDB2222 wrote: »

Hey, as a second thought, to avoid making a loss on the stapler, perhaps we could do a stapler swap? What sort of staplers do you have?

I have a better idea - I'm going to raffle my stapler! I'm sure people will be willing to pay, say, £1 for the chance to buy a luxury executive paper collation unit which is worth at least, oh, £50. Let's say 5,000 people will jump at the chance, I'll be quids in! I'm sure the BBC will publicise the raffle as well, as it's so obviously [strike]a desperate attempt to prop up stapler prices[/strike] a novel idea that nobody else has tried!