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Debate House Prices
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Bulls and Bears
Comments
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HAMISH_MCTAVISH wrote: »200K house.
30K worth of upgrades.
House is 15% more expensive than it would have been otherwise.
Houses are (according to bears) around 30% overvalued.
Half of that amount (15%) is due to upgrades.
I'd call that a significant amount.
Or to put it another way, if the house you were looking at buying was owned by a 100 yr old man who never upgraded it, so it had no central heating, no double glazing, no indoor toilet, no fitted kitchen, no shower, etc etc etc.....
How much of a discount would you be trying to negotiate from the price the neighbouring house sold for that had all those things?
I've never done these before, but that called for it.
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HAMISH_MCTAVISH wrote: »200K house.
30K worth of upgrades.
House is 15% more expensive than it would have been otherwise.
Houses are (according to bears) around 30% overvalued.
Half of that amount (15%) is due to upgrades.
I'd call that a significant amount.
Or to put it another way, if the house you were looking at buying was owned by a 100 yr old man who never upgraded it, so it had no central heating, no double glazing, no indoor toilet, no fitted kitchen, no shower, etc etc etc.....
How much of a discount would you be trying to negotiate from the price the neighbouring house sold for that had all those things?
possibly Hamish's most pathetic post ever!0 -
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »BNP forum a bit quiet tonight then....
cheap shot.0 -
It`s very interesting to see the effects of house price falls on a hardline bull.
Pass the horseradish sauce.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
HAMISH_MCTAVISH wrote: »200K house.
30K worth of upgrades.
House is 15% more expensive than it would have been otherwise.
Houses are (according to bears) around 30% overvalued.
Half of that amount (15%) is due to upgrades.
I'd call that a significant amount.
Or to put it another way, if the house you were looking at buying was owned by a 100 yr old man who never upgraded it, so it had no central heating, no double glazing, no indoor toilet, no fitted kitchen, no shower, etc etc etc.....
How much of a discount would you be trying to negotiate from the price the neighbouring house sold for that had all those things?
OK, I`ll have a go.
What was the question again ?
:rotfl:
You forgot to add "take away the first number you thought of".30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
HAMISH_MCTAVISH wrote: »People also expect a lot more house for their money nowadays.
The build quality and space in new build properties is often very poor.HAMISH_MCTAVISH wrote: »Even in the 1970's, a significant number of houses had no indoor toilets, let alone central heating, fitted kitchens and bathrooms, or double glazing.
I would take one of these homes over a pull the radiator off the wall new build.0 -
Bullish and bearish feelings about an asset price relates to what you think will happen, based on your analysis of the market, not what you want or feel should happen.
Exactly.
I would be classed as a bear because in my opinion house prices have a long way to fall.
However this opinion is not influenced by what I would like to happen with house prices as I don't give a t*** whether they rise or fall.0
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