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House Price Crash Forum


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About steptoe

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    HPC Newbie
  1. It seems a ridiculous idea to me, it will only further inflate prices. If the bubble burst and prices crashed, on current prices in this would be 40% in relation to inflation to return to normal levels which will increase more so with the Brown plan, then I guess taxes would need to rise even further to pay for the catastrophe of mortgages susbisidesed by taxpayers. I think perhaps more should have been done when prices where on the rise, prevention is better than cure.
  2. Article on BBC. Government figures reveal in the first quarter of 2005 mortgage repossessions in the east grew considerably when compared to the same period last year. Director General Michael Coogan said: "As there is a risk of an early interest rate rise, households should consider what steps they can take to ensure that they can continue to meet their mortgage commitments." High purchase prices and interest rates blamed for repossessions. See article here
  3. EA'S are distorting prices in a big way. Found this class example, an identical property sold in March last year on same street for £95k, the asking price of this one is an incredible 160k. Alas; it has been advertised for some time now.
  4. 3 bedroom terraced property at Hessle in East Yorkshire; was priced ar 140k just 6 weeks ago. Reduced 2 weeks ago to 132k and now down to 128k. Thats a 11.67% reduction. Although I feel its still overpriced as the next door property went for 98k last March (nethouseprices.com). It would seem some people seem to be having a moment of clarity at last and adjusting their prices accordingly.
  5. Its greed that got her in the position she faces now and its just tough. Thats life.
  6. The BBC must have received a fare few complaints if this Article is on their site
  7. The most alarming thing I found about this programme was suggesting (to one of the potential FTB's) that using potential rent yield from a room to boost the mortgage application. Nothing was mentioned about the risks involved and how much of a risk this could be. Perhaps the most outrageous load of nonsence ever screened by the BBC regarding property. Disgraceful.
  8. I have noticed lately the new tactic by estate agents for houses priced 120k plus; I live up north and whilst prices seem cheap by comparison of elsewhere; in relation to average earnings round here - they are not. I noticed a job advertised the other day for teknical staff within an IT department the other day for 12k per year for the council to give you an idea of things in relation to salaries offered. It seems some estate agents/vendors are still in denial as what people are willing to pay as opposed to what they think they are worth. I recently received an email from subscription list a
  9. Onr of my colleagues at work; his grandparents where moving to sheltered housing last year; and he was able to purchase the property before they moved for 16k!! (with 75% discount allowed) at a time when the next door neighbours house sold for 85k weeks before. He does realise how lucky he is and has purchased the property as a 'home' and not some money making scheme; he was living with his grandparents. All that was required was that one of the grandparents names were on the mortgage papers; quote staggering really that this still goes on. I reckon he would still get 85k for it now. The disc
  10. As the only you have had is 30% below asking price then perhaps your price expectations may possibly be unrealistic and the other viewers were too polite/not bold enough to make such an offer (30% below asking is a bit cheeky). There plenty of properties on offer so lots to choose from; I am seeing prices drop near me weekly as there is an over supply properties to buyers. Mat be a good idea to get an honest opinion form a colleague and ask how much they would be willing to pay for your property (without them knowing the advertised price). All indications are that where properties are selli
  11. I thought it was quite amusing and cannot believe how stupid some people actually are; guess thats why the 'stung' punters identities where obscured during interviews. Like all 'get rich quick' schemes; scams are reliant on greed on the part of the punter. You have to ask yourself; if the scheme was that good then the guy would be too busy building his own portfolio and not delivering seminars. There is a saying; 'if something sounds too good to be true then it isn't true', a bit of common sense doesnt go a miss either. Quality viewing.
  12. If someone is lucky enough to buy a house that escapes the stamp duty then they can use the extra money to buy perhaps a burglar alarm, alsation or rabbit to put in the hutch.
  13. Possibly. If its 100k as predicted then the difference will be negligible as most houses seem to be well over 100k anyhow so Mr Brown would be ginving away very little. I would rather not pay stamp duty but it’s the house price that is stopping most people buying and not the stamp duty. I think the threshold should be 150k, I reckon we will get 100k tomorrow then in the pre-election campaign the promise of raising it to 150k will be our Tony’s attempt at winning votes. All quite predictable really from our trustworthy politicians of today.
  14. The article heading is Why can’t we sell our home? Because its too expensive would probably be a good guess; my gut feeling would be to reduce the price. . Its only worth as much as someones williing to pay; like everything you can buy. Really, some people need to get a reality check.
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