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Panorama tonight - Bursting the house price bubble.(merged)
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Getting back on topic, the Panorama program was spot on. I was talking to a guy who has a pub near several blocks of appartments (coverted from old industrial buildings) in central Manchester, and he is convinced that although nearly all have been sold, there is next to no-one living in them. He never sees any cars in or out of the underground car park, and barely sees any people going in and out either. All he can see are "to let" signs on the windows and the local agents seem to have a lot of flats for rent on their books. It does seem to have been a massive con by the developers to over-inflate prices and potential rental yields to such people in and then leave them high and dry, with far reduced rental income potential, and high likelihood of negative equity if sold. If solicitors have really been "in" on this scam, meaning that land registry values have been over-inflated, then that really is a national scandal - it is wise to be cautious of property developers, but we really should all be able to trust solicitors and official figures.0
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John_Pierpoint wrote: »So who was the worse historical figure, Hitler or Stalin. One was unhinged and drunk on politics & power. The other was a statesman and family man, whose people died in their millions and that was before they fought a proxy war for Uncle Sam.
in terms of numbers of people murdered then Stalin was the worst0 -
Getting back on topic, the Panorama program was spot on. I was talking to a guy who has a pub near several blocks of appartments (coverted from old industrial buildings) in central Manchester, and he is convinced that although nearly all have been sold, there is next to no-one living in them. He never sees any cars in or out of the underground car park, and barely sees any people going in and out either. All he can see are "to let" signs on the windows and the local agents seem to have a lot of flats for rent on their books. It does seem to have been a massive con by the developers to over-inflate prices and potential rental yields to such people in and then leave them high and dry, with far reduced rental income potential, and high likelihood of negative equity if sold. If solicitors have really been "in" on this scam, meaning that land registry values have been over-inflated, then that really is a national scandal - it is wise to be cautious of property developers, but we really should all be able to trust solicitors and official figures.
there has been far too many flats built over the past few years
one of the reasons for this is .......... planning policy0 -
Are we getting off thread a bit?
When it is money, what goes around, comes around.
I did manage to start what became a stuttering thread on farm subsidies, some months back here:
http://forums.moneysavingexpert.com/showthread.html?t=442852
Harry.
PS Who wants to start a thread on overpaid general practitioners who cannot have a late "shopping" night on Thursdays for those of us who work during the day?0 -
Gingernutmeg wrote: »I'm sorry, but I can't believe how stupid a lot of these people are ...
Especially the woman buying a flat a in Thamesmead because she wanted to rent it out to professional tenants. Anyone who knows that area (and I do) knows that it is NOT an area that will ever attract professional tenants - it's a c**phole, and a dangerous one at that. Are people so greedy (and brainless) that they don't even visit an area before they buy a BTL there??
The idea of ANYONE paying £300k for a flat in Thamesmead is hysterical. It's a dump. It's always been a dump. It'll probably always be a dump in the future.
And that estate looked like a slum even when new!...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
harryhound wrote: »PS Who wants to start a thread on overpaid general practitioners who cannot have a late "shopping" night on Thursdays for those of us who work during the day?
Count me in. I've a couple of chums who are GPs who are the first to admit that they are lazy sods and only do it cos of the money they get for the old rope they peddle.0 -
there has been far too many flats built over the past few years
one of the reasons for this is .......... planning policy
The other reason is the knowledge they can flog them for overinflated prices to people with no common sense who think they'll be a miwwionaire "this time next year"!
BTL is the new pyramid scam. And if I owned a BTL, even if it was successful, I'd never admit to it these days."A goldfish left Lincoln logs in me sock drawer!"
"That's the story of JESUS."0 -
I was once at a party with a load of farmers. The farmer started complaining that he'd had to give up motorsport due to "...that blasted EU" cutting his subsidies!
I don't blame farmers for taking subsidies. After all if the Govt subsidised hedge fund workers, I'd be the first in the queue. I blame Govts for giving them and the electorate for voting for them.
I use to know a farmer that did motor rallying. He only owned 100 acres and rented another 100 acres, so a small farm. Just one of his EU payments in a year was 26K - and this was 13 years ago. He too couldn't believe the money he was being sent from the EU.
Farmers complaining always remind me of that joke:-
A guy said that he stayed in a hotel and the couple in the next door room were up all night. He said there was more moaning than at a farmers AGM:DRENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
Count me in. I've a couple of chums who are GPs who are the first to admit that they are lazy sods and only do it cos of the money they get for the old rope they peddle.
Take two asprin & if it continues I'll refer you to a proper doctor. :rolleyes:
That said I've not seen a GP for a few years so I may be out of touch, I always seem to end up seeing the practice nurse."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Turning to farmers specifically though, if there was a free market, then everything would be different. If producers and buyers were free without state interference, prices would be different and the commodities would be different. Unfortunately, Govt have interfered for decades, meaning that production and prices are completely artificial, hence the apparent need for subsidies.
A lot of EU framers would got out of business it we had a free market. We can import for a lot cheaper. Just look at the coal market. Drax power station imports coal from Australia at a cheaper price it could buy coal from Selby Coal mine. The coal mine is next to Drax.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0
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