CasualBear

I personally know someone trying to pull the same trick right now. Bought two off plan flats without seeing them in Bolton, or somehwere up north. Making a loss on the rent and the valuation came in lower than the purchase. Her solution is to sue the bank saying that they were negligent in lending to her.

My favourite comment :

These are relevant. For CB1, asking prices since 2006: http://www.home.co.uk/guides/asking_prices_report.htm?location=cb1&all=1 Selling prices since 2000 http://www.home.co.uk/guides/house_prices_report.htm?location=cb1&all=1 So asking, selling looks like pretty stable since about 2006 (ignoring monthly fluctuations). So I suppose that evening news article is BS. Time on market is reducing though: http://www.home.co.uk/guides/time_on_market_report.htm?location=cb1&all=1 So I suppose that indicates the return of buyers. I seem to see a lot of reductions in the 250-300,000 region. I suppose they would be first time fodder and the incentive to avoid £8K stamp duty tax by paying <250,000 is strong.

Why if the loan is such a small multiple of salary (2.5x)? Do they have some threshold on the house value as a multiple of salary?

When do the embargoed press releases go out? Just a thought but presumably those that get them today get to put in a nice day trade on the builders... http://www.google.co.uk/finance?q=LON:BDEV

mods where is the ban hammer?

I wonder what the story is here: http://www.rightmove.co.uk/property-for-sale/property-26992672.html http://www.rightmove.co.uk/property-for-sale/property-30630074.html

Everyone keeps on going on about cambridge being mental, but some sanity seems to be returning e.g: 60 09/01/2004 £230,000 Ter. F No Map 49, Gwydir Street, Cambridge, Cambridgeshire, CB1 2LG Just gone on market for 'offers in region of 250,000': http://www.rightmove.co.uk/property-for-sale/property-30630071.html So I imagine this going for a 2004/2005 price - if it goes soon.

Same reason they have to send every member of staff to glastonbury I presume.

They even tried to explain yield on an investment to these numpties... Go to 1.45: http://www.bbc.co.uk/iplayer/episode/b00t6cln/How_to_Beat_Tough_Times_Money_Watch_Growing_It/

Now if I was going to set up a trading platform for forex and sell it to naive punters I would make use of an interesting fact. You can clearly make money from netting trades, and charging commission without actually trading anything. However, since most of the punters will lose money to spreads you never actually place their orders and just take their money. However, if a punter turns out to be profitable you start hedging their trades. All you need is a way to convince a load of naive people to start trading forex on your system!

Do you want me to arrange a viewing for you?

too much town or too much gown? too flat?

Complain to the bbc trust, complaining on here does nothing.

bidwells (or badwills as I call them) are ok, but a metric chuffload better than anyone I had in London.

Cash rich professional dinkys looking to invest the family nest egg for fear of inflation. I disagree about the short term, but you seem to suggest with that in the long term falling prices help FTBs?

Cambourne is a dump: http://www.bbc.co.uk/cambridgeshire/content/articles/2008/07/11/cambourne_crimebourne_feature.shtml But still, if you're happy then go for it.

I love the idea that someone with £100,000 cash would spank it on an unmortgageable prefab.

Would love to know why those buyers fell through - valuation or structure?

2 bed semi in Shelford for £100,000: http://www.rightmove.co.uk/property-for-sale/property-14615001.html Must not be mortgageable? EDIT: it's only a flat not the house.

Google. Can you use it? http://news.bbc.co.uk/1/hi/business/8530150.stm

So you don't think a lower effective tax rate for the poor would help them, rather than keep them trapped?

This looks a pretty good analysis by TPA: http://burningourmoney.blogspot.com/2010/07/time-to-lower-poverty-line.html

CB is reading the paper with some friends known to be renting (who have wanted to buy for ages) CB: oh look, there's an article here that says house prices will fall 20% Friends: that doesn't help us, we're trying to buy a house At this point I had to leave it, having been into trouble with the other half for challenging this kind of sh1t. When I asked her later about it - she hadn't noticed and took a while to work out why I find it so strange. WTF is with people?

Check out the essay in here: http://www.landandliberty.net/uploads/landl1227.pdf called 'Monopoly’s Hidden History' Originally designed as a pro land tax educational game by a quaker.