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House Price Crash Forum


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Everything posted by needle

  1. Its horses hit. Nobody has made an offer. Seen this on a property 4 months ago. Its still on the market.
  2. Best way to deal with it. Went to see four houses. Told all houses had offers on them when viewing. (yawn) Made an offer on one. EA called to say had another offer of ours +10%. I turned into a US Lifestyle coach and said 'Good man! Go for it! Take that Offer! Grab it with both hands..... cause I wont be offering any more.....' 3 months later? All houses still on the market.
  3. 1 - If buying a terrace make sure you've got drainpipes running down into a seperate gutter on your property. If the drainpipes are only on the end terrace you will be relying on your neighbours to clean their drains to stop your roof flooding. 2 - Check the roof and gable walls of an end-of-terrace very closely. In a semi-D the roof of two houses rests on two gable walls. In a terrace up to 5 or 6 rooves could be resting on a gable wall and can cause it to bow. Additionally, if other houses in the terrace have been re-roofed since being built they may have had a heavier roof put on than the structure was designed for. The person in the end house(s) gets the damage and the bill......
  4. Yes, I have loads of information. I work in TV and I live in Manchester. 1. The BBC full complement of staff will be about 2000 people, about half of these will be 'relocators', the rest will be - over a number of years - local jobs. 2. The BBC pay on civil service lines; pay is 'good' but not brilliant; people join the BBC for experience and prestige, not money. 3. For every channel manager on 100k there are 1000 technicians, HR, admin, floormen etc.. on 25k. The idea that 10000 millionaires are moving to Manchester is total, utter, complete bo77ox. 4. Of the 'wealthy' types (I'd estimate ~50 and most of them earn <100k.) amny of them are staying in the south and relocating their jobs to Manchester. What I'm hearing is that some are asking for 4-day-weeks as part of their 'package' so they can go home to the wife and kids at the weekend. They are not moving to Manchester, they are working in Manchester. One I spoke to is looking forward to moving in with a group of fellow managers for 4 nights a week in a rented place in salford quays. He calls it 'the young ones' scenario. The estate agents are w4nking themselves into a froth about this but the fact is there is no substantial money moving here.
  5. I have become incredibly cynical since I first joined in 2005. At that point prices had been on a tear for >5 years and a correction was clearly needed. Every index was shouting 'overvalued', but what was not obvious at the time was the securitization of mortgages and the endless supply of credit this allowed. Even with that problems were becoming evident. I though the govt might step in with some tax or other to mitigate a crash. I remember at the time an associate saying that I was a mug because borrowing was cheap and the govt would step in an prevent a housing crash. I thought 'they dont have the cash to support the whole housing market'. And I was right. They didnt. Instead, they printed it up and f*cked my savings as I (and many, many others) moved further away from being able to buy. Never in my wildest dreams did I imagine the govt would sacrifice the currency, the economy, social mobility and any shred of moral rectitude to keep house prices high. As long as I live I will never, ever, ever vote for Labour again. EDIT - Incidentally the 'associate' mentioned above would now be technically bankrupt if the market had been allowed to correct even a little. Instead he still has a load of property that he cannot sell. Since the rates fell to 0.5% he has had a massive boost in income and is lording it up once again. He doesnt care about selling the properties anymore because 'the govt will make house prices rise again'. Seems as dumb to me as the 2005 comment but at this stage I really dont know anymore....... I was a mug for being responsible. I should have been extremely greedy and borrowed way beyond my means. That much is clear.
  6. Seen this? EDIT ****WHY THE FUCCCK CANT I POST A FUUCCCKKING JPG IMAGE ON THIS SITE??????**** Listed as a 4 bedder but its a 3 bedder.............for 715k. Its here http://www.rightmove.co.uk/property-for-sale/property-33126107.html on Hartlery road Altrincham. Basically its a bog standard 3-bed Cheshire semi with some hideously planned extensions. Floorplans show how badly its designed. Look at the pillars in the conservatory - they are holding the house up! Now thats a 400k house.
  7. There is a thread on this already here - http://www.housepricecrash.co.uk/forum/index.php?showtopic=160726 It was started 4 hours ago. I'm beginning to wonder about your mental helath. 26k posts and you dont bother even reading the latest posts. I suspected a long time ago that you werent kosher and I believe it now. Whats your game? You trying to crowd out discussion with your obsessive posting?
  8. Ireland is in a serious bind. The bank guarantee was a disaster of unparalleled stupidity and nailed private debt to the taxpayer but it also opened Ireland to exploitation by foreign govts. Initially, many of the 'bank bondholders' were foreign (read German, US and UK) banks. If Ireland 'burns the bondholders' these banks lose out in a big way. As they are already in deep trouble, they need to be paid by Ireland, else they (and possibly their Sovereigns) go under. Now, the problem is that many (but not all) of these bondholders have already been paid off - so there really are no 'bank bondholders' to burn. Ireland borrowed the money to do this - hence the huge national debt. Britain and the EU gave this money to Ireland so thatit could be recycled back to their own banks; its a form of state rescue/subsidy that is illegal under law if done directly. However, if done indirectly, ie through Ireland, its perfectly legal. So, the UK/US/German govts can prop up their banking systems with the Irish govt guarantee as a backstop. This then is a bailout which appears as a 'credit' on govt books - its a 'loan' to Ireland, we're making a profit. The new bondholders then are foreign sovereigns; thats why there is such an issue/difficulty with 'burning' them. I wonder how many UK residents would support 'plucky little Ireland' burning the bondholders if it meant, say, a 3p rise in income tax?
  9. So properties for sale are still ahead of those registering to buy...... looks like continuing falls, smells like continuing falls, feels like continuing falls so it must be HOUSE PRICE BOOM-A-RAMA!!!!!!
  10. Gold is going to continue to do fine. The banks are being restriced in their investments and are chasing high yield, high growth, high risk investments. They are being fuelled by QE money here and the US. Betting against Gold is betting that the US will back out of QE and rates will rise. They wont. Dont be a sore loser - you shoulda listened to Bubb all those years ago......
  11. In actual fact 'southern' Ireland is not a republic. That was the aim of the revolution in 1916 but it was not achieved. The current 'republic' was constituted in 1948 and its constitution calls it 'Ireland' - not 'Republic of Ireland', or 'Southern Ireland' or anything else. Just 'Ireland'. Indeed there are, and they have provided many of our finest leaders, military, political, social and artistic. The first President of Ireland was a protestant and many of our current politicians are protestant. Its not as big a deal as many English seem to think. In fact, http://wiki.answers.com/Q/Is_the_I.R.A_protestant_or_Catholic LOL - well spotted that man!!! This loan is essentially one from the UK gov to the UK banks using Ireland as a proxy....
  12. NO! The houses are definitely, unequivocally NOT sold.
  13. Any of you Sale/Timp/Alty/Hale people want to comment on this thread - http://www.housepricecrash.co.uk/forum/index.php?showtopic=158453 Here are some examples of what I'm talking about This house went under offer, then withdrawn - http://www.rightmove.co.uk/property-for-sale/property-16274304.html No listing for any sale - http://www.nethouseprices.com/index.php?con=sold_prices_street_detail&street=RAVEN+ROAD&locality=TIMPERLEY&town=ALTRINCHAM&cCode=EW&year=All&house_style=All&house_age=All&search_radius=&outcode=WA15&incode=6AP Have been to see 6 properties recently and 3 have been removed from the market almost immediately. No offers were made by us, just viewings. Any ideas?
  14. I agree - but 3 out of 6? Seems pretty high to me.
  15. Have been looking at a few properties lately. Decided to do some viewings with the missus to keep 'match fit'. Strangest thing has happened though; of 6 houses we have been to see 3 of them have been delisted as soon as we saw them. That is, they are no longer listed on Rightmove or on the EAs website. The only way they can be viewed is by doing a Google search and finding a cached page. All were removed within 2 or 3 days of us viewing. Its important to note that they did not go 'Sale Agreed' or 'Sold - STC' - they were totally removed and cannot be viewed or enquired about by anyone else. EDIT - they are also NOT being moved to the rental market - I have checked. Now I'm fairly sure these are not 'phantom' houses - ones the EA pretends are on sale to generate interest- because this is illegal. So can the good burghers of HPC come up with any answers? Why are houses being delisted almost as soon as we view them?
  16. You should reply to those threads and post the actual rises in per cent and £. Might be helpful.
  17. Love to hear 'em; heres mine - House on the market for 5 years, yes 5 years. Started off at £420k sold recently for £270k. 3 bedders in Alty asking ~200k, 3 bedders in Timperley asking £260k. Agents either dont know what the fk is going on or are in total denial. Another house in Timperley, needing total refurb, asking 220 house on same street, great condition, asking £205 - open to offers. Sellers and agents think its 2005. Lot of jobs about to be lost so a major shock is coming. Know plenty of people just about keeping heads above water; talk of the town is the VAT hike and the increase in costs. People are dreading even minor rate rises. Been to view a few houses recently, just to get a feel for the game. Every house I've been to has 'had an offer'...... that spiel is getting really, really old at this stage. Dole queues await these guys if they dont shape up - and this time its for real. The Tories are in now and the market rules.
  18. Lotta property coming on the market in Alty and Timperley. Lotta price drops too.
  19. Property-bee shows its been on the market since Feb 2010. 25 May 2010 * Price changed: from '£269,950' to '£262,950' [Found by n/a] 09 February 2010 * Initial entry found. [Found by n/a]
  20. In fairness they were just small one-man-band operations; housewives with a dream of running their own businesses. The main street is screwed - you cant park.
  21. It is important that you understand this - Ireland is being downgraded because they have guaranteed all the banks and bondholders. They are not being downgraded because they have introduced austerity measures, they are downgraded because they foolishly tried to prop up the whole banking system at once. If anything the downgrade alludes to the fact that they have not cut back enough. The austerity measures are miniscule in comparison to the savings that need to be made. The party in power (Fianna Fail - centre Left - new labour-style) promised everything to everyone, and reduced taxes during a boom. Above all things, they let the Irish housing market get way, way, way out of control. So much so, that in a country with a population of ~4 million there are 300k empty houses. Ireland is getting everything it deserves.
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