Friday, Apr 27, 2007
A storm is brewing in Liverpool or is this just Summer Lightning
Times Online: Prices and politics either side of the border
You have to look about halfway down this article and forget the ramblings about Scoltland. <<< In our second city, the problem is real estate glut rather than shortage. There is a growing oversupply of one and two-bedroom flats in the centre of Liverpool, which is dispiriting news for investors in these properties. >>> ... <<< Many investors are not receiving enough rent to cover their mortgages; >>> etc.
Posted by fahrenheit451 @ 02:04 PM (159 views) Add Comment
10 Comments
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1. sovietuk said...
"Many investors are not receiving enough rent to cover their mortgages"
Good
2. Papabear said...
And let's get our terminology straight: these are not "investors" they are *speculators* (I can think of a few other names for them, but shal refrain ;-)
3. Scott said...
Buying to let in a short supply market is unethical.
4. Me Me Me said...
"Build it and they will come"
5. enuii said...
I've said it before and I'll say it again, there are only so many 1/2 bed flats you can force on people. The problem is caused by greedy developers trying to force 'city living' on people who plainly don't want their restrictive, overpriced products.
6. Houseoflords said...
But I heard there's a shortage of properties in the UK, the US is very different to here etc etc. Oh dear, crash ahead! Buckle up...
7. fahrenheit451 said...
Too right ... probably brought on by "Prime Investor" and their armchair chums who being in London or "who cares where" (1) don't know nuffin bout the local market, and (2) PI takes a whopping 3% commission on the sales so "flog em till their dead" mentality is stupid. Then when you want a decent house "with a garden for the children" there aint none so the markets all screwed. And you get empty flats with vandalism instead of 3-bed terraces, but "you dont want to live in Coronation Street or East Enders or Cul-de-sac ville do you" ehh what rubbish, I just want a nice 3 or 4-bed house with a reasonable garden and a pub, local shop and bus stop within walking distance, is it too much to ask for. I'll push the boat out here and ask for a 2 or 3 acre park with swings and ducks and goal posts, but that's probably stretching the imagination of a developer too much and the council will object due to health and safety, grass cutting and vandalism anyway.
8. dobber said...
F451,
I live in that village you describe, just been to the pond to see the tadpoles with my youngest (4 1/2 years any v/sweet). Don't get to dismayed, be patient, the market is turning your time will come.
9. Leedel20 said...
You reap what you sow, the end is going to be so beautiful, how deluded and stupid people are.
The speculators are going somewhere else possibly the stock market or savings as the returns are higher.
10. layers said...
I lived in Melbourne for 4 years in 1 two bed and then 1 three bed with my wife (no kids). And I have to say that given their location, quality build (ish), great security and communal area, it was actually great. However, the only way to survive in them is to have virtually no baggage as there's bugger all storage, and for the 2 bed, very little living area - the one bonus was being 20 floors up. But now that I live in London with the possessions we've accumulated over the years couldn’t possibly live in one now. And given how high the rents are, I can only believe that it fits a very small market which may be OK in London, but elsewhere? I doubt it.
I wouldn't be surprised if the government doesn't at some stage mass purchase repossessed flats to house our ever burgeoning 'dependent' class. Lots of fun for those already living there... 28 days later anyone ;-)