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Debate House Prices
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New build btl
Pobby
Posts: 5,438 Forumite
http://www.dailymail.co.uk/news/article-1028492/Recession-UK-The-238-000-flat-lost-70-value-years.html
Still have plenty like that my way. The original price asked in that article is crazy.What`s the mortgage on £230k? Loads , so how did they expect to get the cash paid to keep the payments going? Oh maybe the buyers thought they will just keep going up.
So I guess iff they are sold off at the price the article stated then the owners will be chased for the debt. House price inflation, you just can`t beat it.
Still have plenty like that my way. The original price asked in that article is crazy.What`s the mortgage on £230k? Loads , so how did they expect to get the cash paid to keep the payments going? Oh maybe the buyers thought they will just keep going up.
So I guess iff they are sold off at the price the article stated then the owners will be chased for the debt. House price inflation, you just can`t beat it.
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Comments
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It must be a nightmare if you bought one of these at peak.
They are really about the only crash victims. Houses in decent areas haven't dropped like this.
They will go up again though. No need to panic.We love Sarah O Grady0 -
You just gained entry in to the 70% club Pobby!
Edit - just noticed the date of the article - 2008. Would be nice if this was actually news lol!0 -
It must be a nightmare if you bought one of these at peak.
They are really about the only crash victims. Houses in decent areas haven't dropped like this.
They will go up again though. No need to panic.
What about this one:
This was on Grand Designs I think
The original asking price was £3million.
That looks like a reasonable area to me... admittedly zero jobs locally to support such a price, even at £650K, but in the past someone would probably have "snapped it up" for their second home, wouldn't they Sibley?
You are either a wind up merchant, or very deluded.0 -
From the same article, this little item caught my?More than one million homes are for sale in England and Wales for the first time since records began, research claims today.
Sorry Hamish, I missed that, did you say housing shortage?0 -
£230k for a flat in Leeds. The estate agents must have nearly choked with laughter.They are an EYESORES!!!!0
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From the same article, this little item caught my?
Sorry Hamish, I missed that, did you say housing shortage?
Article date: June 2008.
When we know supply exceeded demand.... You may remember a bit of a crash following that.
And then the number of houses on the market fell to 600,000.... And prices rose.
Besides, the number of homes on the market is not a good indicator of whether or not society has enough houses.
Most people selling will need to buy another house.... Swapping houses around does not really make much difference to a housing shortage. Only building new houses can do that.“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 -
Hey Pobby, good to see you back!Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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HAMISH_MCTAVISH wrote: »Article date: June 2008.
Most people selling will need to buy another house.... Swapping houses around does not really make much difference to a housing shortage. Only building new houses can do that.
Agreed. I used to deny that there is a shortage of housing in the UK, but I have come round to thinking that there is.
However, it is a little hard to define "shortage", because it depends on whether the "shortage" is based on wants or needs. You could say that there is a shortage of Bugatti Veyrons in the UK, lots of people would like one, but can't have one, due both cost and availability. Is there a shortage of property in the UK ? You could say no, because there are many people who would like to buy a property, but can't afford to. There are many properties for sale, this would suggest there is no shortage. Are they not selling becuase nobody wants/needs them, or is it the asking price ? Are asking prices high because of the shortage, or are high prices causing a shortage ? I suspect that the answer might be found in the number of vacant properties. If there is a high number of vacant homes in the UK, it would suggest that there isn't a shortage cause by lack of supply, it's more about the cost of buying.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
http://www.dailymail.co.uk/news/article-1028492/Recession-UK-The-238-000-flat-lost-70-value-years.html
Still have plenty like that my way. The original price asked in that article is crazy.What`s the mortgage on £230k? Loads , so how did they expect to get the cash paid to keep the payments going? Oh maybe the buyers thought they will just keep going up.
So I guess iff they are sold off at the price the article stated then the owners will be chased for the debt. House price inflation, you just can`t beat it.
Pobby!
Great to see you around fella!:jIt's getting harder & harder to keep the government in the manner to which they have become accustomed.0 -
Welcome back Pobby, been wondering where you'd got to!!0
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