Property crash soon???

meanmachine_2

lisyloo wrote:

Maybe we should all declare our own interests.
I am an owner occupier - no other property interests.
About 50% LTV and planning to stay about 40 years.
So house prices don't have a huge effect on me.

I don't own property, rent at 1996 prices, have investments elsewhere, am on a strict five year savings plan (like the Communists), and am resigned to 10% HPI a year. If inflation is less than that I'll be OK.

I'd love nothing more than a crash, or even stangation, but think the market still has more slack in it, so am a bull in the short term but bearish in the medium term.

But who knows?

zag2me

Stop forgeting to pass the popcorn people!

There are not enough houses in this country to meet demand.

End of!

roswell

I will shortly own my house, (out right) has tripled in value (In estate agent terms) thanks to a being in a small village and a local farmer building a golf course not more than a 2 min walk from my door, But I would put an actual vlaue of 25% less than estate agent value.
currently rent a flat in a town, properties are sat on the market around us 3 in our street for over 6 months. one property was repossesed sold at auction last year and is now on the market for 20% more than the seller had it up for before it was repossessed. (dont know where the developer did his homework) it seems that new windows and a lick of paint = 20% value increase in his books ...... its been on the market 3 months havent seen anyone go to view it in that time.

adr0ck

zag2me wrote:

Stop forgeting to pass the popcorn people!

There are not enough houses in this country to meet demand.

End of!

yes thats it!!!!!!!!!!!!

only when we start building more homes will this change...but to do that there would have to be a radical overhaul of the planning system

or perhaps some sort of home share like a car share....or maybe an age limit hehehehehe

Tassotti

MORPH3US wrote:

So you have purchased 57 properties in 5 years!!??

That takes some doing, how did you manage it?!?

BTW, what is BMV?

M

BMV is Below Market Value. It is a business and I spend a lot of time doing this..maybe 2 phone calls a day...however, as you know, property is a stressful business, and while my 0800 number redirects to my properties in the sun, I can be assured that I will make at least 20K on each deal (not 2 a day I hasten to add)

Property is the same as any other business. there is a trade price and a retail price.I buy at trade and sell at below retail and sometimes I stop people from being repossessed. They kepp their home and I save them a CCJ.

OK ready for the onslaught.

Tass :beer:

sm9ai

zag2me wrote:

Stop forgeting to pass the popcorn people!

There are not enough houses in this country to meet demand.

End of!

Theres plenty of houses. They just sitting empty thanks to btl'ers and second homes.

What the point of building new ones, it will be the same people who will buy them.

lisyloo

I know you said "many" rather than "all", but every lender I have been to have insisted on 2 things 1. buildings insurance and 2. life insurance. Neither of these have to be with the lender, but we must have them!

I have been with Alliance & Leicester and Britannia recently.
Neither needed life insurance or a repayment vehicle.

They won't be out of pocket if someone dies.
They simply sell the house.

welnik

"The debt in this country is absolutely staggering
"


i wonder if this has anything to do with the credit tarting promoted on MSE.com! I have about £30,000 on credit cards but its not debt as I have this in a high interest account! I noticed recently that they were saying debt has reduced. Probably to do with the 2% fee being charged on 0% cards!

nmiah786

welnik wrote:

"The debt in this country is absolutely staggering
"


i wonder if this has anything to do with the credit tarting promoted on MSE.com! I have about £30,000 on credit cards but its not debt as I have this in a high interest account! I noticed recently that they were saying debt has reduced. Probably to do with the 2% fee being charged on 0% cards!

:j One of lifes many mysteries solved!!!!! Nice hyphothesis!!!

lynzpower

lisyloo wrote:

I have been with Alliance & Leicester and Britannia recently.
Neither needed life insurance or a repayment vehicle.

They won't be out of pocket if someone dies.
They simply sell the house.

but what happens when the house isnt worth what the person paid for it?

No lender would consider me witohut buildings or life cover either.