80 buyers for every sale!

macaque_2

Bad news for FTBs

The couple have looked in Fulham and Hammersmith, in Wimbledon, in St John's Wood and Little Venice, even in Harrow and Sudbury Hill. But so far they can't find anyone to take their money, simply because so many other people have the same ambition. "We have had about 10 estate agents looking for us, in 10 different areas, but anything that comes on to the market is gone. If it's worth seeing, it's gone within two days. I think I'm being very flexible, I'm willing to look anywhere, but this is ridiculous," she says.

http://www.guardian.co.uk/money/2007/feb/10/business.property

Oops, sorry, that was the wrong article. Here is the correct one.

Good news for FTBs

The property recovery specialist estimates that landlords could make up over 20 percent of all repossessions by the end of 2009...................

Buy to let landlords are traditionally highly leveraged and many who have been on fixed rate deals will now find that their equity has been eroded when they come to remortgage this year or next, leaving them at the mercy of their lender's SVR (Standard Variable Rate)................................

Interest rates will not stay at this level indefinitely, however, and when borrowing costs increase again, as they undoubtedly will, investors will find themselves trapped and with insufficient equity remaining to remortgage.
“This ticking time bomb could prove disastrous. Cash flow presents the biggest risk in property investment and landlords must act now rather than be lulled into a false sense of security, in the hope that the market will bounce back.

http://www.residentiallandlord.co.uk/news1769.html

baileysbattlebus

I liked the first one better!!!!!!!!

Cat695

erm so why have half the houses (and nice ones at that in nice areas in wiltshire) still haven't sold after 48 weeks

80 buyers for every sale in those areas maybe but not round here there not.

penguine

I liked this quote from the first article.

"The housing market is incredibly sensitive to sentiment. There's a sense of 'Oh my God, we need to get on the ladder. We could have got this for half a million last year, but we're just going to have to do it.' The question is, how sustainable is this? We're certainly not going to crash, but if all of a sudden there was not such a sense of urgency, would asking prices be sustainable?"

baileysbattlebus

Cat695 wrote: »

erm so why have half the houses (and nice ones at that in nice areas in wiltshire) still haven't sold after 48 weeks

80 buyers for every sale in those areas maybe but not round here there not.

I think the first quote was meant to be a joke - it's over 2 years old.

I took it as such - I thought the "green shoots" had become triffids for about 10 seconds.

Cat695

baileysbattlebus wrote: »

I think the first quote was meant to be a joke - it's over 2 years old.

I took it as such - I thought the "green shoots" had become triffids for about 10 seconds.

Damn is it April fools yet

bo_drinker

More like 80 sellers to a buyer ??

JonnyBravo

Exactly baileysbattlebus, some are a bit slow tonight it would seem.....

ad9898_3

baileysbattlebus wrote: »

I liked the first one better!!!!!!!!

Why ?, the first one is the end game in 'The Great Housing Pyramid Scheme', which eventually would bring the country to it's knees as we are now seeing. This is precisely the attitude that got us here, are you completely insane, what is wrong with people.

MrFonzerelli

macaque wrote: »

Bad news for FTBs

http://www.guardian.co.uk/money/2007/feb/10/business.property

Oops, sorry, that was the wrong article. Here is the correct one.

Good news for FTBs

http://www.residentiallandlord.co.uk/news1769.html

I am still trying to get past the fact a monkey can write, do you do adverts? The Meerkat one is my favourite.

baileysbattlebus

ad9898 wrote: »

Why ?, the first one is the end game in 'The Great Housing Pyramid Scheme', which eventually would bring the country to it's knees as we are now seeing. This is precisely the attitude that got us here, are you completely insane, what is wrong with people.

It was not meant to be taken seriously - just like the first part of the post.