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House Price Crash Forum


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Everything posted by Letsdance

  1. Come on DYIV, don't get bitchy. I know the score with HPC and I agree. edit typo
  2. Saw the the stock markets plunge and decided to cash an endowment I took out in 1994 with Nat West. Endowement seemed to be losing money every day quicker than my bath could empty water. 10k to 9k and last week 6k. Sh*t myself and threw in the chips on friday last. Got a cheque for 8k. Still lost money but pleased I'm out. Used it to pay off a BTL (sorry, I was in to BTL quite early so lay off the insults) One for you guys, laugh at my expense. Got a phone call this morning from tenant about blocked drain. Unblocked at lunch time. What a s*itty job. Looked like chicken korma. Would have posted the pics but mods would delete on unsavory grounds. Best wishes LD
  3. Thought I would also add this as it makes the opening of such a prestigious car dealship even more bizzare. These cars are shifting for more money than the average house!! The size of the property market in SR8 is 15793 homes. Given that the nominal growth rate in this postcode district (SR8) has been about 14.5% over the last 5 years, it would be reasonable to assume that this isa dynamic local economy and housing market. Property price growth in this area has significantly exceeded growth in earnings and the national average house price growth, and so the likelihood of it continuing will be dependent upon price earnings ratio, as well as investment by developers and local authorities in continually upgrading local infrastructure, schools, in addition to the continued strength of the local and national economies and any other economies upon which the area depends. Over the last 3 months, the average property value for this postcode district has been £83692. When examining the ability of consumers to further extend themselves in the face of increasing property prices, many commentators pay close attention to the price earnings ratio. Price Earnings Ratio in this postcode district is 5.7. Given the low level of earnings in areas such as this, property prices face a ceiling unless outside impetus can be found for increases. Areas which typically have low earnings and low prices tend to be geographically isolated or suffer from outmoded transport infrastructure. They may also be situated in areas of economic difficulty which have not yet been the recipients of redevelopment or regeneration funding. For those moving into an area like this, they may find that they are able to afford to buy a substantially bigger property than their previous home if they are able to secure employment outside the area. Moving out of areas like this can be difficult without an offer of employment in a new location. This is because price growth lags in areas of economic deprivation, so owners there are not able to use their existing property as leverage to match their standard of living elsewhere. New transactions as a percentage of overall sales are 7.8%. Housing stock: Terraced Houses make up the most significant portion of the housing stock, representing 46.7% of the total. For those buyers keen to purchase Flats, this would not be an ideal area, because only 5.3% are this type. A high proportion of property in this area is socially rented. The majority of property in this area is owner occupied. The average price of a two bed property in this area is £73926, significantly less then the national average of £187894. Who lives here: The average age in this area is 37. This area has a high percentage of married people at 26.8%. Average working hours in this area for men are 41 and for women are 31. This area has 13.4 people per square kilometre. The largest source of work in this area is Health & Social Work (28.1% of workers), followed by Wholesale & Retail (14.8%).
  4. As the title suggests Nissan dealer used the showroom for over 30 years (I remember it being Datsun). Closed its doors early this year. 2 months ago the showroom is refurbed and a fleet, yes fleet of mega, mega MEW mobiles in showrrom and on forecourt. F355, F360, Bentley continental GT, RR, Porsche 997, 996 etc. etc. etc. How long will this last in an SR8 postcode (Peterlee, Co. Durham) edit : forgot to mention Nissan Sunderland on its doorstep is the most profitable car production factory in Europe
  5. What will you do stay at home in the house
  6. Find it quite funny that for the year I have been on this site most posters look forward to all the bad news and doom an gloom. The "bearfest" regularly gorging on the column inches of doom and gloom until they they can take no more. Every time there maybe a mention of the "green shots of ....." the quick to point out statement that this is complete crap coming from a VI trying to inject life back into HPI. All of a sudden posters are leaving the site as all this doom and gloom is getting to them. Could it be these posters are harbouring there own issues and problems and using this site as a way of saying "hey, I'm doing ok." All of a sudden reality hits home.
  7. Sorry BL, you sound a bit frustrated. This concept is so deep it takes a bit of getting your head round. Basically the man making the trusses is paid in pennys because without banks their is an aversion to large scale dependance on debt hence this mans house could be bought over the counter the same as say a loaf of bread. I know I have put this in simplist terms however I want to understand the concept which is your valued opinion.
  8. Right in the middle of a massive project on my own house (Extension with a complete new roof across the whole property and triple garage). Bricks £500.00 a thousand need 20k, dormer trussses 20k, tiles and felt 7k, insulation 8k, electrical and plumbing inc. boiler 5k, facia soffits etc 5k, concrete and metal reinforcement 8k. Labour 20k approx (bricklayers £300 per thousand, joiners 2k, roofers 2k, steelworkers 1.5k, gas fitter 1k, electrician 1k) It costs to manufacture bricks, trusses and the like. Who pays the wages to manufacture these products. Us!!, simple
  9. BL we have been through this before, still disagree that trades would build you a house for basically "love". The incentive in business is money. Money breeds and encourages competition. Houses and property are as bigger investment as they get hence prices will always remain beyond the shop counter on a Saturday afternoon.
  10. Of course it will happen again, boom and bust. I remember 89 to 92 and bought in 93 as a first time buyer and got into BTL in early 2000's. I am taking advantage of a boom and bust economy and it will happen again and again. Learn from it, how many more at the bottom of this cycle will take advantage like me last time around. BTL in the good time STR in the downturns or if you have paid em off ride the storm. One thing I have worked out is nobody at all can predict where we will be next year financially. My savings are worthless, shares are shot to sh*t, last few years bought some woodland and doing well with logs as the gas prices are making people simply switch off and go back to solid fuel, also trying biomass with the brash and shreddings. Always ways to make money, just look!!
  11. I remember when cars were cars, shut it you slag In the begining TR7 Dolomite sprint and I finished with the Consul 3.0 Cortina GT Oh and don't forget the guy in the S type Your nicked!!
  12. Injin isn't real, the same as debt is not real, its all fraud
  13. Thought this warrented a response given the topic title Dragons Den. One Peter Jones has got himself involved alot with the press recently in the goings on of the credit crunch. TBH I like PJ, a bit no nonsense, what you see is what you get. however... I can vaguely quote "We have a heart problem in the economy and we not only have had the operation but also the by pass surgery, we are on the road to recovery." How has he arrived at this conclusion? given the FTSE today what happens now? confidence again looks to be shot. Even PJ can not declare himself out of this one
  14. I had the same problem with my yacht, 1.3k every day for 6 months, what a pain
  15. Check my previous posts for details, not a big portfolio. No probs about the drop in price, I have paid them off all bar 1, £23k owed, long standing tenants and fair bit in savings. Also have own business and in full time employment £30k. Still not happy about the current situation though!!!
  16. "The ultimate determinant in the struggle now going on for the world will not be bombs and rockets but a test of wills and ideas-a trial of spiritual resolve: the values we hold, the beliefs we cherish and the ideals to which we are dedicated, above all else ****** to Foxtons."
  17. Well its been the age old crash avoidance statement used by all the bulls. IMO we have crashed big time in the housing sector and I think further to go but the tsunami of debt may, and I don't 100% feel comfortable, have been avoided. Not just our government but basically the world have all contributed. Not often this happens every one singing from the same hymn sheet. My view, I'm pleased , I do BTL but have done since turn of century and paid off however even my savings were worth nothing, bail out after bail out, shares knackered, pension screwed, ISA not worth a jot. I was expecting houses down and cash is king, not in my opinion. What happens now, I have give up trying to predict were I go, 1 day to the next.
  18. Self employed garden and pet supplies business also have some BTL properties
  19. Good shout, Ill support with BAE systems. Got a good point though, i'm struggling. RR great for aero, crap for road haulage, prone to oil leaks, gardner fell completely behind the times however engines like clockwork, cummins(american) way to go. Same for gearbox manufacture David Brown 70's british through and through the best gearbox overtaken by america and Europe. Look at Scandanavia volvo and Scania, enought said.
  20. Does that mean Keegan has gone for good, what will wise do now
  21. Interesting thread this with some good albeit aggressive veiw points. I am BTL scum, and incidently not a Troll (check previous posts) Got 4 properties rented in the NE. All properties bar 1 are now paid for, the fourth (£20k owed). The rented sector where I come from helps in the deprived areas, which outside a couple of boroughs in London we are the most deprived. In our area when a house is repossessed or no longer used the council compulsory purchases and simply knocks it down (whole streets). Further to this the council has sold off most of its stock leaving a massive list for housing requirements. People in my area can little afford a house however rental opportunities are not much better. I bought my houses back in 2002 from prices ranging from 15k to 40k. I have proably had in total during this time 20 void weeks. The up keep has been £500.00 per year per house (window replacement, alarm, 1 gas combi, decorating, cleaning) I have had in total 8 tenants during the time frame in all houses. I charge £300.00 per calender month. I do not use an agent and alway get rent on time through DD. If I had sold you are right my money would be making more than the rent (well just about) houses worth 50 to 80k. However I have savings in bonds and cash ISA. Further to this I still regularly pay into an old endowment and stocks ISA as well as a flutter on the stock market. What I want to do is spread any investment I have over a range of areas and BTL is only one of them. Ok this pigeon is losing ground fast but hopefully with a raise in rates savings and bonds will increase. Also could be approaching a good time to buy shares. In the lifecycle rates will eventually decrease and maybe HPI will start again in a few years so BTL will seem a little more appealing. Edit typo
  22. Well worth a bump, Just come back from Sant Ant Ibiza, the place is dead, loads of bars complaining of no tourists. In the resorts the cranes just sit, doing nothing. Whats going on!!
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