450k for a three bed flat-madness ! Now these people face ruin.

martin8_2

well, it was reported a few days ago that a student was awarded a PhD in text messaging...

so one day, maybe we can make sense of all this twittering, blog posts and such like that are stored digitally.... filtered, catalogued and accumulated into great works perhaps?! :eek:

PasturesNew

LydiaJ wrote: »

But surely there were other bubbles. South sea bubble, tulip bubble etc, were all before 1950, weren't they?

http://en.wikipedia.org/wiki/Economic_bubble#Examples_of_bubbles_and_purported_bubbles

• Tulip mania (top 1637)
• The South Sea Company (1720)
• Mississippi Company (1720)
• Railway Mania (1840s)
• Florida speculative building bubble (1926)
• 1920s American Economic Bubble (circa 1922-1929)
• The Nifty Fifty American stocks of the late 1960s and early 1970s
• Poseidon bubble (1970)
• Sports cards and comic books in the 1980s and early 1990s
• TY Beanie Babies (1996)
• The Dot-com bubble (1995–2000)
• Japanese asset price bubble (1980s)
• 1997 Asian Financial Crisis (1997)
• Real estate bubble
  • British property bubble (as of 2006)
  • Irish property bubble (as of 2006)
  • United States housing bubble (as of 2007)
    • (The former Florida swampland real estate bubble)
  • Spanish property bubble (as of 2006)
  • China stock and property bubble (as of 2007)
  • Romanian property bubble (as of 2008)

There was a whole programme on Countryfile the other week about the sheep buying bubble about 20 years ago too.... I forget the name of that one ... Sheepy Weepy maybe?

ManAtHome

PasturesNew wrote: »

There was a whole programme on Countryfile the other week about the sheep buying bubble about 20 years ago too.... I forget the name of that one ... Sheepy Weepy maybe?

Baaaa Humbug...

nearlynew

PasturesNew wrote: »

................There was a whole programme on Countryfile the other week about the sheep buying bubble about 20 years ago too.... I forget the name of that one ... Sheepy Weepy maybe?

Baah to let ?

fc123

oh dear ....sheep jokes...this'll end up in the arms now;-)

AMILLIONDOLLARS

MyLastFiver wrote: »

Click for definition of Irony

:shhh: Got carried away,!!! Must remember to read carefully before I reply:rotfl::rotfl:

AMD

dfh

Why would you pay 450 for a flat? Cant get my head round it.That is like half a million pounds.

Cleaver

dfh wrote: »

Why would you pay 450 for a flat? Cant get my head round it.That is like half a million pounds.

In the same way, I can never get my head around comments such as this on this board (no disrespect).

All propeties have a intrinsic value which is something like: land price + building costs + building materials. Pretty much everything else on top is based on variable factors and what someone is prepared to pay for it. Why would you pay £80 million for a footballer? Why would you pay £4 for a coffee? All similar scenarios and all with obvious answers.

mewbie_2

Hmmm. I understand the 450k comment, but yes everything has a price of course - art for millions, etc.

But.

From the article...
A 30-year-old IT consultant.....put down a £45,000 deposit – "my life savings"...

Now it has taken quite some time to save up that 45k I guess. Leaving 400k to pay back. Sort of like 10 life savings in a way.

I know, I know - he probably earns a wedge and it won't take forever to pay 400,000 pounds back.

It does seem a lot of money to me. But then I have a fairly old Monopoly board.

Wookster

Gosh, our resident bulls are really quiet on this thread.

Come on Hamish, Chucky, Kenny, StevieJ stand and be counted! Surely you can grab a steal here?

Mewbie has dared you, she is winning!