Saturday, Mar 24, 2007
Financial Planners say house prices 'bloated'
FT Money Makeover: Go liquid for a child-friendly plan
Young professionals invested in property looking for Makeover. Planners respond - 'sell up'.
Posted by financial planner @ 07:22 PM (178 views) Add Comment
6 Comments
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1. sirgoogle said...
Appalling
They have completely missed the meaning of life.
2. Kinkyjohn said...
I love these made up people ... says so much about opinion
3. lvmreader said...
@SirGoogle,
They can boast about their property portfolio at dinner parties. They can swagger confidently that they are the landed gentry now.
After all, this 'house price' ownership thing goes over really well in Britain, where everyone wants to be Bradley Hardcastle (from 'Brass').
So far 7 (seven) of my friends/acquaintances have stopped taking calls / emails. All I ever heard from them was how well their property was doing. Now, nothing. Not a peep. One guy apparently upped sticks and moved to New Zealnad, severing all previous ties. This is a trend I am seeing more of.
These people are now realising how financially destroyed they are.
Other than that or I need to change my aftershave.
4. enuii said...
Lvmreader, loved Brass myself and would love to see them again, anyway it was Bradley Hardacre not Hardcastle.
Onto the headline, most people who left SA left with sweet FA as indeed this couple have. Arriving in the UK where the streets are paved in Gold (based on cheap credit) they both get themselves jobs at approx 3x national average wage and proceed to 'invest' in property and then dream about retiring on approximately £80-100K PA in today's terms which would require a Pension Pot of £2M in 'today's terms'.
The pair are dreamers (nothing wrong with that) but I think they need a sharp dose of reality, the financial adviser states 'their current financial position is somewhat precarious as it contains very little liquidity. Their readily available assets amount to just over £6,000.'
In other words they are up to their eyes in it and their properties (flats) sound decidedly down market based on their locations and price. I would have expected a more robust article from the FT but then again it might have put off all the other parasitic property suckers out there that the big boys can rip off.
Ah well, I can sleep well again, and look forward to the big thick one landing on the doormat in the morning and it's associated property porn.
5. Rimmer said...
Just to get this straight, they have property and land worth £305000 and Debts of £230000.
They want to have kids a great life and retire on £80000 - £100000 per year at todays prices
Well they might do ok based on a combined income of £120000 PA but the property isnt exactly doing worders i doubt, if i were them i would invest long term in stocks or gold.
6. financial planner said...
Kinkyjon - I have it on vg authority they are real people.