City says housing recovery is in sight

Thrugelmir

roseland69 wrote: »

I'm interested to know what qualifies "the city" to comment on future economics and for me to believe what they say? Seriously.

Rather like Tim Henman giving advice on how to win Wimbledon (to keep my analogy sort of topical).

Funnily enough there are plenty of people that weren't suckered into the property boom.

Not all banks lent crazy money as much as people are led to believe. Wider banking issues are due to misselling , the major culprit unlike all other major financial institutions was allowed to go bust.........

Nenen

Tozer wrote: »

I've just bought for a smidge under £500k.

I assume by 'smidge' you mean what the Oxford dictionary defines as
"smidgen (also smidgeon or smidgin)

• noun [SIZE=-1]informal[/SIZE] a tiny amount."

Tozer wrote: »

The house we bought was on for £590k originally before the owners relocated. We bought from the relocation company for £150k below that.

590K - 150K = 440K

I make this 60K below 500K... if that's what you call a tiny amount I'd be happy to be given a tiny amount of money by you any day!

FoxtonsRIP

He probably didn't buy anything at all!

Tozer

Nenen wrote: »

I assume by 'smidge' you mean what the Oxford dictionary defines as
"smidgen (also smidgeon or smidgin)

• noun [SIZE=-1]informal[/SIZE] a tiny amount."



590K - 150K = 440K

I make this 60K below 500K... if that's what you call a tiny amount I'd be happy to be given a tiny amount of money by you any day!

Because you asked, no it needs some work on it. We've budgeted for £40k. Hence we see the purchase price as £480k. Hope that clarifies.

Tozer

Thrugelmir wrote: »

Is your house an investment or a home?

Were you able to pay a sizable amount in cash?

£130k cash.

It is a home. It is one of the most desirable locations within a radius of 40 miles. It will go up in price. But, it is a home.

Tozer

WhiteThierry wrote: »

this means there's going to be more falls this year????? but according to the experts on here we've already reached the bottom, oh no. Could it be that everyone is throwing lots of muck and the wall and hoping some sticks. I hope houses fall from here, but i have no idea if they will or not

Thanks for a really, really informative post. Cosmic.

Tozer

FoxtonsRIP wrote: »

He probably didn't buy anything at all!

Who?

What a strange post.

chucky

Thrugelmir wrote: »

I've learnt to ignore the titles and decide for myself now.....:think:

totally agree about article headlines - they're mostly attention grabbing.

the article says nothing about recovery just more small drops this year, then stagnation and potentially just 2% growth after that - i don't think that's a recovery in any way.

this thread has been funny because it seems that some are actually scared of stagnation.
they really do expect another 30/40% off property. :rolleyes:

Wookster

Yup, the same city that totally failed to see the credit crunch?
That failed to see the risks around debt?
The same city people who issued all those reckless loans at HBOS & RBS.
The same city people who thought "sub prime" was the next big profit ticket and spent billions of money investing in CDOs?

The same city folk who cannot understand the concept of affordability?

Yup, I have lots of faith in their predictions.

Tozer

Monthly house prices up...again