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'We've reached a tipping point' Signs of house price weakness
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Crashy_Time wrote: »I thought most mortgages (is it only recent mortgages?) in London were I.O?
Have you got any figures to back that up.0 -
Crashy_Time wrote: »I thought most mortgages (is it only recent mortgages?) in London were I.O?
All my mortgages are interest only, I don't see what the problem is, I'm perfectly happy with them.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 stop0 -
Crashy_Time wrote: »Have you never heard of negative equity?
Over a 25 year mortgage where anyone wants to live? No, cant say I have.0 -
Crashy_Time wrote: »Dig around in your stats, but this example probably would have cost similar around the 98 -99 period? Certainly around the early 2000`s in would have been 70 - 90k.
Looking at similar properties nearby this would have been high forties in 2002 and somewhat lower in 1997/8.0 -
IveSeenTheLight wrote: »I believe Wotsthat has already dissected your figures and showed them to be false
I've a horrible feeling that this might be the first time Crashy/ DWS has come close to checking their faith based system against the numbers.
Luckily they appear to be a great fan of renting.0 -
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IveSeenTheLight wrote: »I know Edinburgh reasonably well as my wife went to University there, so I've seen student flats, know friends who went on to buy and live there throughout the last 20 years.
I'm interesting to know how much your rents increased to find larger, better apartments over those 17 years.
I believe Wotsthat has already dissected your figures and showed them to be false
"Dissected" is probably not the right word. Why don`t you ask your friends in Edinburgh how much flats were in 2002. Remember my example is 10 minutes by bus from Princes St. These things are important to property mentalists I believe.0 -
Crashy_Time wrote: »"Dissected" is probably not the right word. Why don`t you ask your friends in Edinburgh how much flats were in 2002. Remember my example is 10 minutes by bus from Princes St. These things are important to property mentalists I believe.
2 sold in 2002 1 just over and 1 just under £49k0 -
Crashy_Time wrote: »High forties in 2002 sounds way out I`m afraid. Where are you getting these figures?
Sold prices around EH11 2LA on Rightmove. Roughly doubled since 2002?
Nationwide calculate prices have increased 93% during the period.
Plus you said you were looking at flats in the area at around £40k in 1998 and the flat you linked to is pretty much the cheapest on the market...
It's you that's on the HPC train don't forget - you must have done the maths. Why not tell us the address of one of the £40K flats you remember viewing - won't be too difficult to work out what it's worth now and run through the numbers. I'll tell you what % crash you need to break even.0 -
Sold prices around EH11 2LA on Rightmove. Roughly doubled since 2002?
Nationwide calculate prices have increased 93% during the period.
Plus you said you were looking at flats in the area at around £40k in 1998 and the flat you linked to is pretty much the cheapest on the market...
It's you that's on the HPC train don't forget - you must have done the maths. Why not tell us the address of one of the £40K flats you remember viewing - won't be too difficult to work out what it's worth now and run through the numbers. I'll tell you what % crash you need to break even.
Looks like flat 81/3 sold for £86,000 in 2005 and their neighbour is now asking £74,950 in 2014? Good job mortgage rates have been kept artificially low I think.0
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