Tuesday, Apr 17, 2007
Witness the peak or a last dash to the top!
ITV Tonight @ 20:00: My Big Fat Property Fortune
One-off documentary featuring the real-life tales of people who have raked in enormous profits buying and selling property.
Posted by nearly30 @ 07:42 PM (202 views) Add Comment
8 Comments
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1. nearly30 said...
More info:
One-off documentary featuring the real-life tales of people who have raked in enormous profits buying and selling property. Including a garage in Chelsea that was once sold for £600,000, a children's entertainer from Deptford reveals how he bought his council flat for £15,000 and offloaded it for £176,000, while a man talks about the family home he purchased for just one pound. Plus, a man who owns a property worth £70million, and two former maths teachers from Kent explain how they have accumulated a portfolio worth more than £160million
2. nearly30 said...
I fear that this may prove irresponsible by ITV to show such greed-philic porn - but hey - if it makes the bubble pop sooner - the better IMHO!
Crass - it may well be - but is probably the most realistic view of Buy-to-Let and property speculators and how they have killed the housing market (all thanks to New Labour - cheers!)
3. Davro said...
Well it's all just a debt portfolio in reality isn't it? Housing is the new technology shares.
4. This comment has been removed as it was found to be in breach of our Blog Policies.
5. paul said...
The tens of thousand who have had their homes repossessed will not be featured.
6. Davidgestsex said...
The tens of thousands who will taken out 5x mortgages, lose their jobs in the coming recession and will have their homes repossessed will also not be featured.
7. Shipbuilder said...
Slightly off topic, but I only today fully realised how far the NI market is from reality, when I checked out renting vs buying.
New build 4 bedroom 1 reception house just outside Belfast - £385000. Repayment mortgage at 5.5% about £2400 per month.
Larger 4 bed 2 reception in same development to rent - £895 per month.
Unbelievable.
8. Chillilizard said...
yeah - i caught this show, or somehting like it, last night on the telly. - guy bought his house for £1 from the council and it is now worth £124 000. Of course the show now cites a 11 gazillion percent increase in value in the last decade. Never mind taking into account the £13 000 the owner had to fork out to upgrade the place (it was a vandalized dump in a crime ridden area, when it was bought.) as part of the agreement or the 'support' the council provided in the form of £37000 of council payer's money.
What rubbish!!!!!!
It seems everyone is pretty much ignoring the most basic economic facts: If we are not building more houses or better houses, but house prices are going up, are we really any richer?