Sunday, Jun 22, 2008
Deceving as usual... it's the Times!
Times: Britain’s largest property developer offers interest free deposit to buyers
The orginal title of this article, very telling about the desperate reality of the housing industry, was "A Built-In Negative Equity Package". This link can still be found at http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/
Posted by confused76 @ 01:07 PM (431 views) Add Comment
7 Comments
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1. Martin said...
Dont these companies buy and bank land? If so, should they be made to sell these houses at a price realistic to when the land was obtained in order to correct the housing prices sooner and get it all over with? And am I right thinking offer is a win win situation for Taylor Wimpey by enticing people to take out far fetched mortgages on over priced houses AND still getting in excess of what prices should fall to. Am I getting this right, if TW lend you 25% of a house being sold £200,000 you would pay £150,000 regardless and should houses drop by 50% and you are forced to sell within the 10 year period you would still owe TW 25% of the now £100,000 house thereby paying £175,000 for a £100,000 property? Is this TW trying to cap a HPC to 12.5%?
Go easy on me here, i'm quite new to all this house price stuff so might be getting the wrong idea.
Excellent site BTW
2. Jayk said...
I fail to see where lies the "deception". Then again, rational thought and argument seems to be out of the reach of most of the people who post articles here then add their own personal agendas to the rubric......
Tin foil hats must be on discount again.
3. paul said...
There's a site that watches for changes in articles but I can't remember what its called - it's an invaluable resource these days with so many half-truths being baked by vested interests. I remember it's particularly useful for keeping tabs on those cut n'paste-happy BBC 'editors'.
4. Wilee said...
I think that site was News Sniffer...http://www.newssniffer.co.uk/
5. wilee said...
I think that site was called News Sniffer...http://www.newssniffer.co.uk/
6. paul said...
That's one of them, and revisionista is the other one (detailed on the same site).
Thanks wilee - much appreciated.
7. paul said...
Seriously, those sites are the real shit.
Written in Ruby on Rails, and ready to challenge the orthodoxy.