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Debate House Prices


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Should have listened to the bears.... My story

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Comments

  • spurs_nut
    spurs_nut Posts: 329 Forumite
    chucky wrote: »
    <sarcasm>tin hat wearing BTL hating individuals who can't afford a property and expect property to be worth 3 times their weekly salary of £34.15 a week<sarcasm>

    ps. sorry forgot to add they all have a standard issue 80% cash deposit to buy a property but don't want to buy until they drop 70% in value ;)

    There is quite a lot of truth in that though!
  • MORPH3US
    MORPH3US Posts: 4,906 Forumite
    1,000 Posts Combo Breaker
    edited 27 October 2009 at 6:11PM
    You so full of bulls*it spurs_nut, you can't even give us a figure.

    Well let me do some sums for you then....

    Average wage in London = £46,000 (http://news.bbc.co.uk/1/hi/england/london/7802792.stm)

    Assuming you have no "other half" :D and earn average salary - then 6 x £46,000 = £276,000 for your house.

    20% falls from peak = £56,000 down....

    Over 2 years you would have paid aproximately £12k of capital + your imaginary £40k = £51,000

    So you are still in £5,000 negative equity.....

    Have I missed anything :confused:
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Twinny99 wrote: »
    Who are 'The Bears' anyway :confused:

    More conservative investors that quietly go about their business of making money. ;)
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    spurs_nut wrote: »
    Well..... My story.
    So basically you are a stupid tw@?
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    mewbie wrote: »
    So basically you are a stupid tw@?

    Are you sure he is that clever? I think you might be guilty of flattery, afterall his stupidity does not extend just to financial ignorance, he supports Spurs lol.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    Actually what I mean is... I don't believe it. Had a look on t'net and can see they are waiving some early repayment charges, but no mention of cash sums to people to move their mortgage elsewhere. A bragging story without a link.
  • nollag2006
    nollag2006 Posts: 2,638 Forumite
    Thrugelmir wrote: »
    More conservative investors that quietly go about their business of making money. ;)

    ... or watch as the property market (including rests) rise at an increasing speed, all the while hoping, beyond hope, that the price correction of 2008 will occur once more.

    It was 15 years between the early 90's and the late 2007 price correction. I am sure it will be another 10 - 15 years before the next one.

    :T
  • spurs_nut
    spurs_nut Posts: 329 Forumite
    mewbie wrote: »
    Actually what I mean is... I don't believe it. Had a look on t'net and can see they are waiving some early repayment charges, but no mention of cash sums to people to move their mortgage elsewhere. A bragging story without a link.

    http://forums.moneysavingexpert.com/showthread.html?t=1663301

    there you go you stupid !!!!!!! You don't have to look very far!
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    MORPH3US wrote: »
    You so full of bulls*it spurs_nut, you can't even give us a figure.

    Well let me do some sums for you then....

    Average wage in London = £46,000 (http://news.bbc.co.uk/1/hi/england/london/7802792.stm)

    Assuming you have no "other half" :D and earn average salary - then 6 x £46,000 = £276,000 for your house.

    20% falls from peak = £56,000 down....



    Have I missed anything :confused:

    I think I have are London prices down 20% from peak?
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    StevieJ wrote: »
    I think I have are London prices down 20% from peak?

    Mine are about 17-18% down In Battersea SW11 (hard to tell as I have no intention of selling)
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
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