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Bought a new build and may be price drops in neighbouring properties
Comments
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Does no one have any sympathy for the poor small developer who has probably paid over the odds for the land, had to fight through planning, met massive increases in material and other costs, seen financing costs increase massively since the start of the project and finally is trying to sell in a very different market from when they started the development.
Before you ask, no I am not a developer.0 -
Does no one have any sympathy for the poor small developer who has probably paid over the odds for the land, had to fight through planning, met massive increases in material and other costs, seen financing costs increase massively since the start of the project and finally is trying to sell in a very different market from when they started the development.
.
Err... NOdolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0 -
Looks like we're going to see a lot more of these threads soon. I hope all the bitter long term HPCers aren't going to pop over all over the place gleefully rubbing salt into peoples wounds.
i think they probably already have. never ones to waste any time laughing at other people whilst sitting in their own darkened bedrooms before Mum calls them for tea.:j0 -
Why not? where would we be without private enterprise?dolce_vita wrote: »Err... NO0 -
Why not? where would we be without private enterprise?
Private enterprise, including property development is a business and as such needs to respond to changing market conditions.
The best tend to not only respond to, but to predict these changing conditions and act acordingly to make bigger profits.
Doing this in a rising market is easy but if things change and you make less money or even a loss then that's tough !!!!!!.
So no, I don't feel sorry for them. Nor do I feel sorry if people can't sell their overpriced houses, or if they get into negative equity, or if they get repossessed because of poor financial management or because they've p1ssed their money away trying to keep up with the jones's.
The people I feel sorry for are those who despite working hard and saving for a deposit are priced out of the market because of HPI caused by easy credit, speculation and greed.dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0 -
i think they probably already have. never ones to waste any time laughing at other people whilst sitting in their own darkened bedrooms before Mum calls them for tea.
Not to worry. I'm sure you and ixwood can exchange hugs should it become too much :grouphug:Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
kentavr is a spammer.
reported.Gone ... or have I?0 -
dolce_vita wrote: »Private enterprise, including property development is a business and as such needs to respond to changing market conditions.
The best tend to not only respond to, but to predict these changing conditions and act acordingly to make bigger profits.
Doing this in a rising market is easy but if things change and you make less money or even a loss then that's tough !!!!!!.
So no, I don't feel sorry for them. Nor do I feel sorry if people can't sell their overpriced houses, or if they get into negative equity, or if they get repossessed because of poor financial management or because they've p1ssed their money away trying to keep up with the jones's.
The people I feel sorry for are those who despite working hard and saving for a deposit are priced out of the market because of HPI caused by easy credit, speculation and greed.
My original post was meant to highlight that it is not just FTBs and people who have bought at the height of the market that lose out. The developer may go bust and lose their own home due to the frothy housing market they banked on to make their profit.
It is hard to plan any business in an inflationary period and with developers financing costs alone rising 28% in 1 year, perhaps you are suggesting that all developers should pack up, then what would happen to house prices.0 -
The developer may go bust and lose their own home due to the frothy housing market they banked on to make their profit.
As I said in my last post.....
tough !!!!!!dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0 -
They'd crash like they're going to anyway?0
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