Sunday, May 25, 2008
My landlord has just lost £20k!!!!
Times: Capital depreciation
Both Houslow and Kingson are down 4% in a month!! How house prices are faring borough by borough
Posted by confused76 @ 10:48 AM (1337 views) Add Comment
13 Comments
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1. paul said...
My landlord lost £5.5k. Hehe.
2. Gettinglikemymother said...
Don't know where they get some of these figures from. My area (Kingston) quoted as up 3.9%, yet I'm seeing plenty of falls in all price ranges. Don't have propertybee so can't check exactly - maybe some vendors are upping prices in order to make any inevitably low offer less painful?
3. George Sore-ass said...
The map shows the prices went up, not down by 3.9% in Kingston.
Personally I think you'll find that surveys with such small samples are highly unreliable though and will tend to bounce up and down depending on particular properties marketed from one month to the next.
4. John_coller said...
"My landlord has just lost £20k"
Has he tried checking under the sofa cushions?
Sometimes when I loose money it turns up their ;)
5. magnifico said...
Kingston is up 4% if my eyes are not deceiving me.
6. paul said...
True magnifico - but these are asking prices ...
7. nubbers said...
If this HPC is similar to the last one, and if I gloss over various other assumptions, I estimate that my personal wealth is improving relative to my landlord by an average of about 5K per month for the next 5 years.
8. scandinavian pessimist said...
The word "lost" suggests (wrongly!) that they earned the money in the first place...
I would say they have lost HOPE of earning the money. And soon they will lose more hope.
9. pendulum said...
Prices in surrey seem to be in denial. I see more and more properties now on the market > 1 yr - I go around for a snoop and many owners can't afford to fix the windows or doors, and seem to have little disposable money. I think there are a lot of people sat on an imaginary pile of gold, refusing to admit the house is no longer worth 2007 prices. They can't drop the price because they feel they're entitled to it - even though they can't afford a lawnmower. What guts me is they probably have a £50k mortgage. My landlord bought the flat for £30k in 1979 and it now worth 300k so he doesn't give a cr@p - he's got £1000 going in every month. This kind of inflation will never happen again - we'll have to work for our ****ing retirements!
10. Root said...
Having moved from Brighton to Woking I'm having serious problems figuring out which one is more ****ed up. I really can't see the reason for actually wanting to live here, whereas at least Brighton was interesting.
11. sirgoogle said...
Pendulum
What you state means that the HPC may stagnate - and stay flat for ages - as nobody will want to admit that the only asset they have has dropped - so they will not sell
The inflation will occur in eveything else (and quite a lot of it). The Central Banks have only one way out - inflation to eat the debt.
12. bystander said...
"we'll have to work for our ****ing retirements!"@pendulum
..don't you mean we will have to work through our retirements.
13. pelethar said...
pendulum - very well put. I can say that the situation is broadly the same in SW London, unfortunately.