Sunday, May 10, 2009
Trapped into living with the ex
BBC News: Trapped into living with the ex
"A £70,000 loss on the house was too much for Gemma and Ben to take, so they have resigned themselves to living together until property values go back up."
Looks like they will be stuck with each other for some time then!
Posted by becky @ 07:14 PM (945 views) Add Comment
9 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. D79 said...
Frankly, if someone is stupid enough to pay £350k for a house in Hither Green they deserve everything they're going to get. That whole area is a dump.
And since when is a bogstandard two bedroomer a "villa"?! I blame EA speak.
2. general congreve said...
Evil woman has ruined his life, feel sorry for him, but have no sympathy for her, seeing as his mum put up the deposit cash and then she dumped him after they'd bought and lived together for 5 months. Although he's still a d1ck for buying near the top of the market.
He should sell the place now, take the hit on the deposit and tell her to f$ck off. He'll be better off in all respects. He'll be rid of her for a start, still have some deposit cash left (that he never had to work for in the first place - so no biggie) and if he waits a little while be able to pick up a similar property for at least another 15% less. It's either that or live with the evil cow until the price slides so far he ends up stuck with her for the next 10 years in negative equity.
3. Serious Guy said...
"A man’s home is his castle, but when it’s unsellable, it becomes a prison"
A £70,000 loss on the house was too much for Gemma and Ben to take, so they have resigned themselves to living together until property values go back up.
So Gemma & Ben,when do you think that might be?Lets hear from an expert!
Robert Sinclair, director of the Association of Mortgage Intermediaries, says"We do think that 2010 prices may go up but not by more than 5%, so I think people in these kinds of situations will have to sit it out for the next 18 months."
People like this guy and others also said there would be a drop in home values back in 06/07 and look what has happened since!
What do you think is going to happen to house prices when crime goes off the scale with this engineered financial collapse,the soon to be full blown war in pakistan,the attack on Iran,the increased job losses,these people lose their homes ....pushes property down further,do you see the spiral Gemma & Ben..do you?
Prices will go back up,but when and by how much is the question.
Still we have the Hyperinflationary Depression to look forward to!
4. uncle tom said...
What is so pathetic about this case is that they are clearly convinced that property prices will rebound.
In a few months time they will be in negative equity - wipeout..
5. braindeed said...
This is not so unusual amongst the populace - I know a divorced couple who still live in the same house because 'it's worth more than that'
....mind you, they never finish my crossword when it's left lying around.
6. Hammered said...
When the boom times were in full flow, there was always a bigger idiot who would buy your overpriced house off you. These two are an example of such idiots.
7. mander said...
However she says she still loves the house and the area and "everyone knows property values works in cycles and prices will go back up".
It looks like the £ 100 000 depozit is gone which is sad because they bought the property to live in and still a profit is expected. Will we be able to see in 10 years time that particular house being sold for a profit from £350 000?
8. drewster said...
"Ben's mother gave them £100,000 for the deposit as she had some money she wanted to invest somewhere."
How exactly did Ben's mother expect to get a return on that £100,000? Were the couple paying her 2/7ths rent to make up for the fact that she owned 2/7ths of the house? Or did she expect them to sell the place for £700,000 in a few years time, and somehow return £200,000 to her, while consequently having nowhere to live for themselves? They really didn't think this through.
On a related topic, a colleague of mine is in the process of buying a £175k house with a £100k "investment" from his parents. I wonder how that will turn out...
9. mark said...
ha ha ha, the way she looks at her ex... daggers, what odds are there she already has someone else lined up to replace benji!! lol