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House Price Crash Forum

righttoleech

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Posts posted by righttoleech

  1. The mistake was letting these countries join the EU. The majority of citizens of core EU countries would have said NO if asked.

    UK politicians betray us because by tradition:

    Labour can display their supposed socialist morals by bringing poor countries in.

    Tories will do anything to weaken the influence of France and Germany - the more the merrier.

    Albania next? speciality organised crime. 80% Europe's heroin trade and forced prostitution specialists........I can hear the soundbites already. 'If Albania was within the EU we could control this criminal activity more easily'.

  2. The Reading property sounds pretty shitty.....but more than good enough for a tenant I would think. You should borrow on the basis of this place, and on the next one, and the next one until you boast a portfolio like the Wilsons. Finally release equity to purchase a property that any landlord would die for. A mansion fit for a king from which you can revel in your business acumen and superiority.

  3. Thanks.

    I tried to have a smile but then I was wondering why this ME is putting pressure on landlords now - with house prices supposedly rising?

    Is it putting on pressure because:

    1. It sees rising prices and is going to taking the opportunity to repo as many properties as possible in a rising market, flip them and make cash whilst still having the original mortgagees owing them loads of debt?

    2. Because ME wants to truly be out of the mortgage market and no longer exist?

    A dog eat dog scenario. Enjoy!

  4. Buy this uninhabitable and unmortgageable house in 2003 for £110k

    http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=41460220&sale=46921751&country=england

    Sell it for £300k in 2012 still uninhabitable and unmortgageable

    Put it up for sale in 2013 still uninhabitable and unmortgageable for £400k.

    http://www.rightmove.co.uk/property-for-sale/property-41460220.html

    If this sells I might actually cry.

    How am I supposed to provide a decent house for my family? People seem to have access to sums of money "hard working families" can only dream of. Where are they getting it from?

    This really is a frightening example. If interest rates had been sensible through the Brown years and remained so it would probably be in the £160-£180k range now. Savers have been robbed blind while spivs, chancers and BTL slumlords have had their pockets filled with gold. What a disgraceful cesspit this country has become.

  5. Maybe it's just me, but from looking at the rental market for family homes around London on RightMove, asking rents appear to be crashing. There appears to be a pattern of houses coming onto RightMove at prices that are generally lower than a year ago, sitting there for a couple of weeks, then having the price reduced by 10% or 20%. It seems like landlords are getting nervous.

    I saw this ad for a 4-bed house in Ascot this morning which struck me how out of synch prices and rents are becoming:

    http://www.rightmove.co.uk/property-to-rent/property-28315482.html

    They're asking £2500 a month (which I know is a lot of money), but considering that the house next door sold recently for £4.5 million, it seems like a bargain. The phenomenon of sub 3% gross yields appears to be spreading out from zone 1 London.

    I fear an innumerate ignorant EA has omitted a zero from the price.

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