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House Price Crash Forum


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Everything posted by Freeholder

  1. I read that the electors of Queensland recently gave the Labour party a good spanking. Do you think this indicates a more realistic attitude amongst Australians? Perhaps they have noticed that Labour bribes them with their childrens money. Always good to hear of a Labour defeat anyway.
  2. I saw a council house where the diddycoy tenant had tarmaced the front room and kept a pony in it. I saw the water damage in the flat below where the tenant above had turned his living room floor into a lawn. A tenant I met in a housing association block, a polite chap, slept on the living room floor with his alsation dog. In a large rambling victorian flat the tenant had cut holes in the walls at floor level to create runs for his chinchillas. People are strange, which is part of the fun of having a job where you meet a lot of them.
  3. The fertiliser. Brilliant for tomatos. Never even saw any of the weed but to judge from the number of black sacks the police took out there must have been alot of it.
  4. This happened next door to me. I didn't smell anything or see anything suspicious. Police raid very impressive with blokes in body armour. We made tea for them afterwards and they gave us some of the fertiliser they had confiscated. Bl00dy good stuff it was too.
  5. Just checked Right Move and Mouseprice. Nothing sold in that block this year or last year and only one sale in 2010. Anyone who knows the area out there who can tell us the tale?
  6. It's not just ghost towns. Read of a ghost airport here http://www.telegraph.co.uk/news/worldnews/europe/spain/9084202/Castellon-airport-Spanish-ghost-airports-unused-runway-to-be-dug-up-to-meet-regulations.html
  7. They were fetching up to 80% of VP value last time I was paying attention. I think the glory days for this as a speculative investment are probably past.
  8. I saw some deals done where landlords sold to tenants as well. Typically the deal was done at around mid way between tenanted value and vacant posession value.
  9. In 1918 3/4 of residential properties were privarely rented. In 1950 about 1/2. In 1990 about 1/10. The Rent Acts very nearly destroyed the private rented sector.
  10. It was the shortage of houses caused by the 1st WW that inspired the first Act. Shortage always pushes prices up and the government of the day acted prudently to protect tenants during hostilities. edit typo
  11. I did a great deal of such wondering when I was studying for an exam in the subject back in the 1970s.
  12. The Rent Acts created the buisness model of criminals like Rachman. What he did was to buy properties subject to Rent Act tenancies cheap then illegally drive out the tenants. He could then either realise an immediate capital gain by selling with vacant posession or let outside the Acts, legally or illegally, at much higher rents. Rent control pre dated Rachman by many years having first been adopted during the 1st World War. http://en.wikipedia.org/wiki/History_of_rent_control_in_England_and_Wales
  13. Part 2 of Schedule F of the 1977 Act applies. Tis lists the circumstances in which a court might grant the landlord an order for posession. It reads as follows. The conditions referred to in Paragraph © in each of Cases 11 and 12 and in paragraph (e)(ii) of Case 20 are that—(a)the dwelling-house is required as a residence for the owner or any member of his family who resided with the owner when he last occupied the dwelling-house as a residence;(b)the owner has retired from regular employment and requires the dwelling-house as a residence;©the owner has died and the dwelling-house is required as a residence for a member of his family who was residing with him at the time of his death;(d)the owner has died and the dwelling-house is required by a successor in title as his residence or for the purpose of disposing of it with vacant possession;(e)the dwelling-house is subject to a mortgage, made by deed and granted before the tenancy, and the mortgagee—(i)is entitled to exercise a power of sale conferred on him by the mortgage or by section 101 of the Law of Property Act 1925; and(ii)requires the dwelling-house for he purpose of disposing of it with vacant possession in exercise of that power; and(f) the dwelling-house is not reasonably suitable to the needs of the owner, having regard to his place of work, and he requires it for the purpose of disposing of it with vacant possession and of using the proceeds of that disposal in acquiring, as his residence, a dwelling-house which is more suitable to those needs.
  14. You make it sound as if there was a blissful time when council housing was abundent. No such time existed. Council houses were always severely rationed. Back in the early 70s I was told that as a single man with a job I would be waiting effectively forever.
  15. No. It just removed the existing rental properties from the market and left people who were not going to get a council tenency with no option but to buy. or subsist in a dodgy bedsit. I am not aware of any contemporary research into its effect on prices but any such effect there was would have been upward. edit typo
  16. Rent Act rents were always low. Back int hte day when almost all residential tenancys were subject to the Rebt Act virtually no new tenancies were being created. The Rent Officer who was responsible for determining rents in the abscence of agreement did so on the basis of a fair rent ignoring any element of scarecity. If you don't know what that means you are in good company. Back in the 1970s and 1980s we used to value a house subject to a Rent Act tenancy at 35% to 45% of its value vacant. Rent Act tenants had total security of tenure and could pass the tenancy on to a resident relative on their death.
  17. I think this about covers the legal situation. http://www.hilldickinson.com/downloads/client_services/knowledge_and_publications/professional_risks/insights/20_june_2011.aspx In a landmark decision for surveyors, the Court of Appeal has held that a surveyor who provides advice on value to a lender does not owe a duty of care to the borrower who is seeking funding in order to invest in a buy-to-let property. This decision overturns the original finding in the case of Scullion v Bank of Scotland Plc (t/a Colleys) and closes off the risk of an avalanche of claims from people who came into the buy-to-let market during the last property boom and who have lost money as a result of the subsequent crash. The facts edit to add link that works
  18. I beat you to that link, but nice to know we have something else in common as well as riding the same bike.
  19. The Government is now rid of a weapons grade [email protected] who noboby liked. A man whose downfall springs from his trading in his wife of 26 years for a younger model. Good. Hopefully we will now get a minister who doesn't think putting up your electricity bill during a recession and wasting the money on pointless windmills is a good idea. James Delingpole puts the boot in amusingly here http://blogs.telegraph.co.uk/news/jamesdelingpole/100134689/huhne-youd-need-a-heart-of-stone-not-to-laugh/.
  20. Find out what type it is then look that type up here http://www.bre.co.uk/. Then look up whether the type is designaled under the Housing Defects Act 1984.
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