Good Old Fergus!

Running_Horse

Seems to have been trying to sell for a number of years. This 2 bed house in Ashford is probably typical of the kind of 2 bed house in Ashford they go for.

http://www.rightmove.co.uk/property-for-sale/property-32986710.html?premiumA=true

£165,000 times 900 = 148.5 million, of which a fair chunk will be mortgage with capital gains tax to pay. Not sure where this figure of 250 million pounds is coming from.

Given the difficulty selling 900 houses at once in one town already flooded with new builds, no wonder he is trying to hype the price up to potential investors.

chucknorris

Running_Horse wrote: »

Seems to have been trying to sell for a number of years. This 2 bed house in Ashford is probably typical of the kind of 2 bed house in Ashford they go for.

http://www.rightmove.co.uk/property-for-sale/property-32986710.html?premiumA=true

£165,000 times 900 = 148.5 million, of which a fair chunk will be mortgage with capital gains tax to pay. Not sure where this figure of 250 million pounds is coming from.

Given the difficulty selling 900 houses at once in one town already flooded with new builds, no wonder he is trying to hype the price up to potential investors.

According to this link:
http://en.wikipedia.org/wiki/Fergus_and_Judith_Wilson
They are 2 AND 3 bed houses, and the number is nearer 1,000.

Crashy_Time

http://www.dailymail.co.uk/news/article-2883451/House-prices-falling-country-sparking-fears-nationwide-slowdown.html


Headlines like this won`t help much Bad Mail, should have waited until Fergus sold before doing the "Fears Sparked" routine :rotfl:

Crashy_Time

Running_Horse wrote: »

Seems to have been trying to sell for a number of years. This 2 bed house in Ashford is probably typical of the kind of 2 bed house in Ashford they go for.

http://www.rightmove.co.uk/property-for-sale/property-32986710.html?premiumA=true

£165,000 times 900 = 148.5 million, of which a fair chunk will be mortgage with capital gains tax to pay. Not sure where this figure of 250 million pounds is coming from.

Given the difficulty selling 900 houses at once in one town already flooded with new builds, no wonder he is trying to hype the price up to potential investors.

Houses like that will soon be <100k again. The media estimates of the Wilsons "worth" are laughably out of whack. Whatever people say about them not being seen as a good advert for BTL the media has held them up as an example of "making it" with bricks and mortar. It will be interesting to see how they are portrayed as the crash gathers steam :beer:

wotsthat

Crashy_Time wrote: »

Houses like that will soon be <100k again. The media estimates of the Wilsons "worth" are laughably out of whack. Whatever people say about them not being seen as a good advert for BTL the media has held them up as an example of "making it" with bricks and mortar. It will be interesting to see how they are portrayed as the crash gathers steam :beer:

I can see it's worthwhile to rent if you're expecting 40% falls anytime soon but next year is going to be your 20th anniversary of renting.

You could've been mortgage free and well out of the 'Ponzi' by now and, shock horror, you might have been able to move a couple of times too. Unlike a dog a house doesn't have to be for life.

I hope you're right because I'd love to pick up a nice house for my later years on the cheap but fear you're just stating what you'd like to happen rather than making a reasoned argument for what you predict will happen.

Crashy_Time

wotsthat wrote: »

I can see it's worthwhile to rent if you're expecting 40% falls anytime soon but next year is going to be your 20th anniversary of renting.

You could've been mortgage free and well out of the 'Ponzi' by now and, shock horror, you might have been able to move a couple of times too. Unlike a dog a house doesn't have to be for life.

I hope you're right because I'd love to pick up a nice house for my later years on the cheap but fear you're just stating what you'd like to happen rather than making a reasoned argument for what you predict will happen.

I thought you already had a house?

wotsthat

Crashy_Time wrote: »

I thought you already had a house?

I want a bigger one in a more expensive part of the country.

If house prices were 50% cheaper in 5 years I'd be as happy as that chap Larry. Assuming I wasn't adversely affected by the economic events causing such dramatic falls I'd be on the road to a (very) early retirement too.

A working lifetime spending substantially less by owning rather than renting and then picking up a bigger place in a nicer area for 50% off. Brilliant.

It's nice to dream but important to recognise the difference between sleepy time and awake time.

Crashy_Time

wotsthat wrote: »

I want a bigger one in a more expensive part of the country.

If house prices were 50% cheaper in 5 years I'd be as happy as that chap Larry. Assuming I wasn't adversely affected by the economic events causing such dramatic falls I'd be on the road to a (very) early retirement too.

A working lifetime spending substantially less by owning rather than renting and then picking up a bigger place in a nicer area for 50% off. Brilliant.

It's nice to dream but important to recognise the difference between sleepy time and awake time.

What part of the country would that be then?

wotsthat

Crashy_Time wrote: »

What part of the country would that be then?

Pretty much every part of the country is more expensive than where I live.

HPI doesn't really help someone living in a cheap part of the country looking to move to a bigger place in a more expensive part. Also, being a permabear I purchased a place I could easily afford so the next step up has the potential to cause a groin injury.

At least the problem hasn't been compounded by renting for the last 20 years.

Running_Horse

chucknorris wrote: »

According to this link:
http://en.wikipedia.org/wiki/Fergus_and_Judith_Wilson
They are 2 AND 3 bed houses, and the number is nearer 1,000.

Just did a Rightmove search for 2 and 3 bed houses in Ashford up to £200,000. There are 111 results, or 244 if sold STC results included. There are also many thousands more new builds in the pipeline.

No wonder they are so keen to find someone to buy the lot in one go, but have not been able to find anyone after several years touting their houses round the media. Imagine what would happen to Ashford prices if they dumped them individually on the open market.

They remind me of the stubborn seller who thinks his house is worth X, and keeps it unsold on the market for years hoping to get a totally unrealistic price.