LLcoolbot

What has happened to the normal folk with normal jobs? I mean for his £340 K hes buying a 2 bed flat!!! is there any hope for anyone else?

a **** of landlords?

I used to live in Harrow and visited the Platinum house development a couple of times. Its a converted office block in the town centre. See here http://www.rightmove.co.uk/viewdetails-138...pa_n=1&tr_t=buy I fail to understand how anyone can be buying £350k 2 Bed flats in Harrow.

yes well said, the enlightened know it, but talking to a chap who's a FTB in the pub the other night, he'd got some viewings lined up. I told him about the info on this site and to check net house prices to see what the flats had been bought for. But honestly he didn't want to know. He's still in the 'missed the boat' mind set.

Mmmm. 'Bear in mind' .........good user name!

Sorry I didn't get a photo, but in the Crouch end area of North London I saw one of those advert trucks ( a large toblerone type advert on the back of a transit van) with an advert for BTL- MOVE IN FOR £99 Type of thing for local developments. Just thought it showed the state of things quite nicely.

my landlady put the house i used to rent on the market 3 months ago. Today I checked right move. Its still on their web site with an 8 grand price reduction. I called up the estate agent today: EA SAYS: They've had an offer on it. I say: so is it sold subject to contract? Ea says Yes. I say : but its still on the market? EA says: yes, but there's an uncompleted chain. so they'll take other offers. So whoever has put the offer in can't shift their house and so on down the chain. I know for a fact my landlady cannot afford to keep up the mortgage payments on that house for an extended period unless she gets in tenants again. I expect to see further price reductions on it. But unless people further down the chain can sell, so-one is moving in soon. Its a matter of time until she HAS to slash the price. I've got plenty of time to wait until she and many others do.

HPAG Your aiming too low. Something more in the order of a rock concert in hyde park is required here to raise awareness to the HPI issue facing us.

A few people I know are buying now. I've tried warning them, advising them of this site etc. but they just wont have it. One guy I know is desperate to get into Buy to let because one of his mate's has got one. He's already overstretched on his own property he bought 2 years ago. Some folks just do not see this crash coming. I sometimes find myself wondering if they're right.

Wolverhampton Express & Star 20.5.05 The west Broms operations director, Stephen Karle, said today " we have taken the opportunity to pass on lower rates to our members. Earlier this year the market was expecting to see further rate rises, but now we expect to see a 0.25% cut between now and November"

I know URBAN HYMN may find this of interest as I know he/she passes the site every day. This development of 15, 2 bed flats has been dragging on for ages. There was speculation on this site that the building work had stopped. Recently building work has been happening and a show home is now available which I visited today. The 2 bed's range from £138 K with about 12K worth of reductions available including stamp duty paid etc. There are 7 flats reserved. Talking to the sales lady today I asked 'when are they going to be completed as they seem to be taking a long time to complete'. There was a nervous pause the she agreed saying that 'they don't rush David Wilson homes as quality is of paramount importance'. Then there was another awkward silence as I stared at her waiting for her to elaborate. She started to say something then stopped. I couldn't bare the embarrassment of forcing her to finish her sentence so we moved on to another matter. 'Something' isn't quite right on that development and that was tangible in this womans patter. I know its not a concrete anecdote but it confirmed in my mind that they're worried, especially when you can buy a house in the area for a similar price or less.

I couldn't find the story either, but did find this that may be of interest!! http://www.thesun.co.uk/article/0,,2-2005220835,00.html

BREAKING NEWS................... LLcoolbot closes FT100 Tracker ISA.....................FT100 Climbs 49 points!!!!!! Have I got out at the wrong time?? I hope not

Thanks for the advice. I'm closing my FT100 Tracking ISA and putting it all into an Alliance and Leicester on-line savings account. Moneysavingexpert recommends it. I'll start taking a few risks when I've got some spare cash I can afford to lose. At the moment I need every penny for the Deposit on a house. Thanks

Thanks Yonmon, Unfortunately being a total novice(I'm in the FT100 tracker as i'd filled up my other Cash ISA allowance) I haven't got a clue what shorting or going long means!! I was thinking of getting my money out of the FT100 tracker ISA beacuse I thought it might be safer. If i can build in some security while still being in the Tracker ISA I'd be interested to know how. Thanks