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Doorbell

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  1. A banner has appeared on HPC for Wellesley & Co. Anyone know anything about them? https://www.wellesley.co.uk/
  2. Lord Rutherford he say there are two types of science - physics and stamp collecting. However.. Anon he say "The answer is, there is no answer, just a feeling. Just trying to be helpful.
  3. http://www.scarborougheveningnews.co.uk/ne...sses.5008603.jp From the first comment:- Scarborough, like all coastal towns, suffers disproportionally during a downturn. The reason for that is they benefit disproportionally during an upturn. Coastal/holiday towns and villages offer an 'aspirational' lifestyle - people go on their on holiday and think its great. The reality is very different - mininimum wage jobs for 6 months of the year, a very long commute to any area with economic activry - Leeds, in Scarborough's place. People turning up in tourist places always bid-up the property prices too high in the up-swings. They then suffer in the downturns as there is a very limited market for chic little Bistros in the downturn. This (97-07) has been extreme - almost like two upturns. I expect the downturn to be like two downturns. I remember looking at Scarborough house prices during 94. A large number were for sale. a nice 3 bedder cost less than 3 times the local salary. Assuming things follow a similar path this time, you can expect a 3 beeder for about a maximum 16K * 3 = 48K. Of course, I expect this turn-down to be much, much worse. 2 * 16K - anyone for a 30K 3 bedroom house?
  4. He said: "No-one knows how long the current recession is going to last and I just didn't want to be in the position of not enjoying my job for what could be the next three years or more. "A property bought for £200,000 in, say, 2005 is now worth around £160,000, so assuming the owners would have paid a £40,000 deposit, which is around average, they now just can't afford to move without a 100 per cent mortgage, and no-one's giving 100 per cent loans at the moment. You can't really blame the banks, I would be really careful about lending if I were in their position, and I wouldn't be offering 100 per mortgages either." Link http://www.scarborougheveningnews.co.uk/ne...ock-.4845935.jp
  5. He said: "No-one knows how long the current recession is going to last and I just didn't want to be in the position of not enjoying my job for what could be the next three years or more. "A property bought for £200,000 in, say, 2005 is now worth around £160,000, so assuming the owners would have paid a £40,000 deposit, which is around average, they now just can't afford to move without a 100 per cent mortgage, and no-one's giving 100 per cent loans at the moment. You can't really blame the banks, I would be really careful about lending if I were in their position, and I wouldn't be offering 100 per mortgages either." http://www.scarborougheveningnews.co.uk/ne...ock-.4845935.jp
  6. He said: "No-one knows how long the current recession is going to last and I just didn't want to be in the position of not enjoying my job for what could be the next three years or more. "A property bought for £200,000 in, say, 2005 is now worth around £160,000, so assuming the owners would have paid a £40,000 deposit, which is around average, they now just can't afford to move without a 100 per cent mortgage, and no-one's giving 100 per cent loans at the moment. You can't really blame the banks, I would be really careful about lending if I were in their position, and I wouldn't be offering 100 per mortgages either." http://www.scarborougheveningnews.co.uk/ne...ock-.4845935.jp
  7. Everyone seems to be convinced that house prices will fall and then rise. I'm not so sure. The West is currently in decline and the present financial problems (and environmental problems and peak oil problems etc.) will only accelerate this process as we fritter away our wealth. Remember that the only thing you have, and the only thing you ever will have, and the only thing you ever can have is your life. So I say: Stay light, stay loose. Rent don't buy. Reduce clutter. (No more Chinese tat). Don't spend all your time on HPC You get the idea. Just to cheer you all up: When the Romans left Britain in 430 it was a thousand years before property prices recovered.
  8. This government is beginning to remind me of some lines from Yes Minister. Minister "But we must do something. This is something. We'll do this."
  9. I had an acquaintance who was one of these squatters. He and a group of similar individuals formed themselves into a "Housing Co op" and bought 13 houses from Lambeth Council for about £89,000 each. They had a £1,000,000+ mortgage. My acquaintance financed his mortgage payments by renting out the first two floors of his house as two flats and living in the top one. He even rented out a room in his own flat. He then bought a house in France with some of the proceeds and spent his time renovating it. I lost touch with him in 1995 but heard that the Co op dissolved in 2003/4. He sold the Lambeth house in 2004 for well in excess of £400,000. He still has the French house. I know he never disclosed his income as a Landlord when I knew him (he told me). He was also quite knowledgeable about "free electricity" and other "benefits". He classed himself as an artist and paid no income tax or NI because he didn't earn enough (his words). His driving license, bank account and all official documents were registered at his mothers address in the north of England. With the income from the flats he was able to give up work and devote himself full time to his own "pursuits". I recently came across him on UTube riding a bicycle on Lansing Island in Hong Kong. He was telling a Chinese man that unlike other artists he was able to have a comfortable lifestyle. Makes you think...
  10. This could work out quite well for the goverment. Any NR repos could be canceled and the mortage sold to the local council who agree a "fair rent" with the occupiers. In a couple of years the occupiers could rebuy it at a discount under "right to buy". This would be very popular in the north east, (votes for Labour) and save the goverment much embarisment. It would enable councils to keep the existing council housing stock for locals on the housing list and save on NHS costs for depression etc.
  11. The first house, 5 Redcar Road East, Middlesbrough, failed to sell at auction 12th December 2007. Available at 25k. Good photo of the house. Love the leaves. Previous buyers probably "bought the photo" without visiting Middlesbrough. Has some history 23 Oct 2006 5 Redcar Road East, Middlesbrough, Redcar And Cleveland TS6 6PH Terraced Freehold £19,000 18 Jul 2005 5 Redcar Road East, Middlesbrough, Redcar And Cleveland TS6 6PH Terraced Freehold £16,000 29 Apr 2004 5 Redcar Road East, Middlesbrough, Redcar And Cleveland TS6 6PH Terraced Freehold £20,000 20 Oct 2003 5 Redcar Road East, Middlesbrough, Redcar And Cleveland TS6 6PH Terraced Freehold £25,000
  12. Just been looking at the Erinaceous Auctions site. The 7 November 2007 auction had 13 properties with NO bids. Anyone go to this auction? Erinaceous Auctions
  13. No, I'm afraid I didn't attend the auction. I was interested in it because Fred Dibnah's house was to be auctioned off. However it was withdrawn because of a boumdary dispute.
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