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About 2buyornot2buy

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  1. All good stuff Willie. We've discussed the lack of transparency in NI. Doesn't stop with the land registry. I notice co-ownership and 6 years late with their accounts. Publicly funded and don't see the need to publish accounts. The land registry FYI is down at the PWC building.
  2. Current house prices

    300 million is the total transactions times the average price. A rough approximation.
  3. Current house prices

    2660 were the total NI transactions. 300 million was just the NI lending. Ever free market has entrants and those who can't participate. That's the way it works. I' happy to pay for social rent. What I'm not happy to do is pay for a subsidy for people who otherwise couldn't compete. They drive the price up for me and everyone else. Build state housing wood for with taxes and owner by society = yes. Subsidise others to gain capital at my expense = no.
  4. Bt9

    Welcome Jay. Interesting bit of info on the house. 60k is a lot. It really must be in bad nick. Good for others buying on the street if it goes for less. Brings down the valuation of others that come up for sale.
  5. Current house prices

    HTB supported 2660 transactions and circa 300 million of borrowing that wouldn't have happened. If you want to call that limited fine. Co wnership creates new market entrants that shouldn't be able to compete. The ultimate price of that is that genuine entrants pay an increased cost. The banks are the real winners. I wasn't aware rent to buy was a pilot.
  6. Current house prices

    Ah NI the land of the Judicial Review.
  7. Current house prices

    The mortgage market is tighter than 2006 without a doubt. But that doesn't mean it's tight. 4.9 times household income is credit bubble territory not prudent lending. Co-ownership supports 1000 apprx transactions directly. Aroud 5% of the market. That's an impressive figure. No doubt about it. That 5% could be much higher where chains are involved. Up until recently we had HTB guarantee. There' another 600 transactions a year that wouldn't be in the market. We now have Co ownership rent to buy helping the developers. Effectivey HTB by another name. This is not a free market.
  8. Current house prices

    If demand us low and supply is higher then prices decrease BVI. Limited availability of credit should be causing prices to fall not rise. Hoarding of development land just decreased supply and increases prices. There this be a tax on land hoarding. Thats the sort of intervention that needed.
  9. Current house prices

    I take all that on-board BVI and respect your expert knowledge. I'm coming at this from a different angle I guess. I understand what you're saying about labour costs but that only explains part of it. Essentially if labour supply is limited and driving up costs then the demand side should be coming in and coming up with cheaper alternatives. That modular prefab should be cheaper than employing dozens of trades. Material costs should be negligible. Afterall bricks, plaster, wires etc have been around for centuries. Technology should have reduced the cost of these. Inflating land prices is obviously having a massive effect.
  10. Bt9

    I'd be tempted to view and out in an offer on a Sharman one. Are there many listed? Use this one as an example of why you offered x.
  11. Moving to BT7 in 2017

    Nice outside. Easy 10k on the inside. Closer to 15-20k I'd think to finish that to a good standard. He's kitchen, bathroom and decorating throughout. Queue boomer - "when I bought my first house we didn' have wallpaper, the kitchen was a cold water tap and the cooker a firelighter. We had to wash in a bucket and heat the place by lighting our own farts. Oh and interest rates were 3000%."
  12. Bt9

    Not a bad price Joe. You should view that.
  13. Current house prices

    I'e said this before but I'm tempted to STR in the not too distant future. I bought in BT9. I'm shocked at the ridiculous rises. It's reminds me of 2005. I just can't see it going on for too long. An external event will collapse the lot. I'm tempted to bank the not inconsiderable equity and let some mug take the hit when prices collapse again. People see buying a house like buying a car. If they can make they payments at .5% interest rates it's all good. Except those payments aren't fixed for 25 years ( the actual term is probably closer to 35 years). Plus they have no pension. The current situation is absolutely mental. My mortgage payments are around 10% of my salary. I could lose my income and be grand. No holiday this year but grand. How some people live so close to the edge, PCP to the eyeballs and mortgages to the hilt on average wage I'll never know.
  14. Current house prices

    I agree with the majority of that. 2013 and the credit loosening has caused the increases we see today. The various schemes supporting literally thousands of transactions, the antithesis of a free market, is also supporting prices further up the ponzi pyramid. I don't necessarily agree with the housing raising with inflation. IMO old housing prices should be deflating as building technology improves costs decrease and maintenance due to age increases servicing costs. If it was a free market equilibrium would see prices decrease in real terms over time. But of course it isn't and they don't because the Tories aren't really free market supporters. Not when it effects votes.
  15. Current house prices

    Good post very interesting.