Panorama tonight - Bursting the house price bubble.(merged)

ixwood

Some.. people don't believe anything until they have to and/or it affects somebody close to them.

The rest of us have ears, eyes and brains.

ixwood

Maybe we're being a bit harsh. Regardless of intent or sharpness, it must be pretty devastating.. Especially now with the lack of easy credit that a few generations, myself included have grown up with and known no different.

ixwood

So..... who's going to be the 1st brave "I did that" on here then?

adr0ck

i'm amazed at what people think they will get in rental income for a property, especially how much students will pay

CYBERCIDERSAVER

I accept that they were fools easily parted from their money.

However it was an intersting point about the valuations taking into account the prices of nearby flats that had sold with these "gifted" deposits that were added to the actual price paid and lodged with the land registry.

I think they should ban gifted deposits completely.

Mozette

Well caveat emptor, (or however you spell it) but still doesn't excuse amoral scum cheating people who are a bit.... well, thick really. I can't imagine any of them paying say £2,000 for a 2nd hand car on the say so of a total stranger, but will happily part with £200,000 when it's a house. Harsh lesson to learn.

beingjdc

ixwood wrote: »

So..... who's going to be the 1st brave "I did that" on here then?

Several have admitted to doing it in the US, curiously. It's just less obvious here as yet.

Pretty amazing stuff though. People who paid £300k for a £200k property, and are losing £600 a month on the rent. Even if house prices start going up by double the rate of inflation again tomorrow, it'll take ten years for them to just break even.

mystic_trev

Those apartments look stunning. 50% off with drug dealers and brothels as neighbours........it can't be all bad

Generali

It made me think of the old adage that you can't con an honest man.

What drives any asset bubble is a belief in the ability to get rich with minimal work. When that woman saw the state of the houses, do you really think she would have cared if they'd been making her a packet regardless of the conditions she was imposing on her tenants?

[Deleted User]

Bahahahhaha, That was brilliant, loved seeing the selfish greedy BTL's getting what they deserve. Is it me or were two of them South African?

I have nothing against people in business making money for themselves, however i do find it immoral when it involves life essientals, i.e,Shelter/Food/Water.

These people out there that have 'invested' in property when they know little or nothing about the market and the economy makes me laugh and deserve everything comming their way.