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House Price Crash Forum

eric

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About eric

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    HPC Newbie
  1. Check this one out. http://www.rightmove.co.uk/viewdetails-190...p;mam_disp=true It was on originally at £370k but you won't see it on Bee as the property briefly disappeared when the EA went into administration! The owners paid £331k in November 2006 but I wonder what the kick back was they received from the builder? Surely not the £80k they've just dropped by? On a gross rental of £800 per month it would give the same yield as a 1 year bond if priced at £120k. Some way to go yet then!
  2. Hi If HBOS go down I assume all its subsidiaries go down with it? I am thinking specifically of Birmingham Midshires - where I have over the £35k! Many thanks for any advice. E
  3. This is why hard nose investors will only pay 100 * gross monthly rent. In this case £850 *100 = £85k In an environment where there is no HPI (negative in fact) it is amazing that any first time buyer will buy until the sums you so nicely demonstrate add up. Simply put £200k houses that rent for £850 a month need to drop in price by 60% to make it even worth considering. It is lucky for builders that there are some people who can be fooled all of the time, but there won't be enough to stop the inevitable falls. The sooner they happen the better it will be for most people IMHO.
  4. Is housing benefit one of the untold stories behind HPI? If you know with certainty you can generate an astonishing £700 a week then you can happily buy up as many houses as possible on liar loans and let them out. I wonder if this is what has happened? Wonder who the landlords are.........................
  5. Now that has just got to hurt!!! Wonderful work please keep them coming.
  6. The welfare state is slowly destroying our country. It's a surrogate dad with no discipline for feral youth. But in the meantime don't forget the great benefit of giving the scum money: it keeps them out of the system and generally away from productive folk. Because they spend everything they are given it has a multiplier effect in the economy which might otherwise be lost if the rightful owners (taxpayers!) saved it.
  7. Then he should just as quickly withdraw it and offer £80k. If prices revert to 3* income they need to halve from present values! £135k is silly money for a three bed semi. All IMHO
  8. My ears always ***** up when I hear the nonsensical "soft landing for house prices" Tell me if prices are going to fall or rise man!! That's all that matters.
  9. Great work. Makes interesting reading. Is there any way in which you could automatically look the properties up in houseprices.co.uk to see if bought since 2000? That would really be good as we could spot the loss makers straight off.
  10. I have just gone into houseprices.co.uk and downloaded all the data back to 2000 for my home town. Took me 20 minutes to copy paste into excel. Sounds laborious but it might be valuable info for the future when I turn mercenary auction buyer! I am going to keep updating my file for as long as the Registry numbers are available.
  11. As sale prices begin to fall is there a chance that sales data will be pulled from public view? Even the lemmings know about the internet and might even realise that sales prices are there for free. Once people see evidence of falling prices it becomes truly self fulfilling. That's why I think they might be pulled - or at least made chargeable to view. If it happens remember where you read it first!
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