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House Price Crash Forum


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About zamo

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  1. God I am glad i got my house at 2005 rateable value at start of 2019. Rateable value of this is 235K lol. https://lpsni.gov.uk/vListDCV/propertydetails.asp?di=07&dn=Belfast&wi=0000000488&wn=Rosetta&si=0000020498&sn=St+Johns+Park&display=254062&rn=11 Absolute chancers.
  2. Not if the Government can stop it. 4 x joint mortgages is pretty standard. 95% mortgages start this week.... Very average salary of £25k each gets you 200k purchasing power. I like to compare houses to their 2005 lpsni value. I feel that if it's roughly the same as 16 years ago then it is reasonable value. 3 Blenheim drive above was 125k rateable value in 2005.
  3. https://www.nibusinessinfo.co.uk/content/coronavirus-£25000-hospitality-tourism-and-retail-grant Tourism accommodation?
  4. I think they might actually get a 25K grant from the Government as its a Holiday let. If you didn't laugh you'd cry!
  5. I would say a 700k income would put you in the 0.01% in Belfast. Possible, but most would need to be representing terrorists in court and being paid by the British Government for doing it. Strange wee Country we live in.
  6. I would recommend Dr. Gilmore. Balmoral health clinic on the Lisburn road is great! Seen within 24 hours the last time I called up.
  7. Yes, couldn't find anything of value there. Bought Upper Malone instead. Couldn't wait any longer.
  8. Yes. Just gone sale agreed on a house 5k below 2005 lpsni value.
  9. I think thats actually quite good value. I viewed an identical one in the row behind/beneath it looking 395K a few months ago.
  10. ROI is an international corporation tax cum wrag. "Let’s not forget, without multinational investment, Ireland would be Albania with brutal weather. " http://www.davidmcwilliams.ie/eu-is-a-thing-of-the-past-our-future-is-with-an-atlantic-ireland/
  11. Nah I'd the the Surveyor valued it at about 350K max. Its a kip inside.
  12. Yea it was 2.1 mill in 2007. 50% off that price would be about right. It has rateable value of 900k in 2005. https://www.belfasttelegraph.co.uk/life/house-home/a-des-res-with-all-mod-cons-28067583.html
  13. https://medium.com/iipp-blog/why-cant-you-afford-a-home-9c5cf009be21 A remarkable transformation is occurring in advanced capitalist economies. Home ownership and housing more generally is becoming unaffordable for large swathes of citizens. Anglo-Saxon economies — where home ownership is deeply culturally embedded — have been particularly badly affected. In big cities such as London, Manchester, Sydney, Melbourne, Auckland, Vancouver, Toronto, Los Angeles and San Francisco, median house prices have risen to over seven times median incomes — with three times generally seen as ‘affordable’. The hardest hit have been younger adults: the ‘millennials’. In the UK, for example, in 1996 two-thirds of 25-35 year-olds on middle incomes owned a home; by 2016, this had fallen to just a quarter. In the United States in 2004, almost 45% of the same age group were home owners, a figure that dropped to 35% by 2016. In Australia, home ownership among the under forties declined from 36% in 2001 to 25% in 2015. The foundational promise of liberal capitalist economies that ‘if you work hard enough you can have a home of your own’ no longer holds true. There have has been major falls in the levels of home ownership since the turn of the century across all the major English-speaking economies, as shown in the chart below. How did we get here? The explanation you will most likely hear in the media and from many politicians is that we are not building enough homes. The culprits are usually the planning system, the construction sector or excessive immigration. While these are certainly relevant factors in many countries, they are not so useful in explaining the housing affordability crisis of the last few decades shown in the chart above. Planning systems did not suddenly become more restrictive at the turn of the century or construction firms more monopolistic. House prices have been rising even in cities with stable populations. To understand today’s housing crisis, we must go beyond just looking at the supply of housing and examine demand, in particular the demand for housing as a financial asset and land as a form of collateral. And looking at the demand for housing and the land underneath it leads us to consider much bigger questions about the social and economic structure of modern capitalist economies. In particular, the increasing political preference for home ownership over other forms of tenure, coupled with wider shifts in political economy, have led to two important — and perhaps unintended — developments in the housing and land market. Firstly, the windfall gains that naturally accrue to landowners in a growing economy — generally referred to as ‘land rents’ — have been allowed to grow as taxes on property and the public provision of affordable housing have both withered. Secondly, and most significantly for explaining the rises in house prices in the last two decades, the deregulation of the financial system has created a positive feedback cycle between finance and house prices. Finance has become addicted to property just as citizens in many capitalist economies have come to expect to own a home. Money creation, bank lending and house prices When property prices rise faster than incomes........
  14. Eden wood on malone road was up for sale circa 550k-595k, now for sale 499k. The other 3 buyers must be fuming if they paid full price. https://www.irishnews.com/lifestyle/property/2018/04/19/news/property-eden-wood-is-a-paradise-of-luxury-and-convenience-1307837/ https://www.simonbrien.com/property/site-2-eden-wood-belfast-owwfo NOW - https://www.propertypal.com/semi-detached-eden-wood-belfast/541861
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