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About littledavesab

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  1. RE electricity comment, Id make sure that any property let out had gas + electric pay as you go meters installed
  2. Great article isnt it - I posted it in that other place - I am sure you know the one Romans ! Maybe its the biggest question right now - are commodity prices justified ? A bigger question than whether gold is a bubble and whether the USD / stock markets will come crashing down maybe.
  3. What a bunch of snobs replying to this thread Stratford compares to the dodgier parts of Surrey I should know I lived there I wont even waste my time I will say one thing though - all these new apartments selling at big premiums to the Victorian housing stock are going to go down big time compared to the houses
  4. No such premium on the nice Victorian properties in Stratford E15 !! Back in 2000 I saw a large house that had been converted to 7 flats - about 4 bedsits and 3 1 bed's. Priced at £150k. Back then I didnt have the money.... if only
  5. Id agree with that, I am now remembering why I moved to Stratford
  6. I am not a property expert but back in 2000-2001 Barratts converted the local LEB Building in Stratford E15 to nice flats. I popped in to see how much they were = £225k+ (gulp) for a 1/2 bed. Nice place, gym in ground floor and I think a conceirge. Compare that to the Victorian properties that sold at the time for circa £80-100k for a nice 2 bedroom and £100-150k for a decent 3 bedroom... HOUSE. At that time house prices in Kingston would have been ? £300k+ for a 3 bedroom and similar for a flat. Now you will find those flats in E15 probably sell for £200k or less but the houses are crica £225! These new build flats are very much designed to appeal as lifestyle choices in terms of location, mod cons etc. Trouble is these are likely to get hit hardest compared to houses. So if you want my opinion avoid the new builds and consider the rent only/ STR argument until house prices show signs of bottoming out
  7. Hiya Paddles - I recognise Ya from that other place Im displaced from KOT to Stratford E15 - due to excessive house prices Neither are as bad as you might think! Id prefer KOT however Im currently hoping that Stratford will make strides in catching up with Surbiton / New Malden etc - would be a bit much to catch Kingston/Richmond however. . Stratford has momentum behind it in terms of infrastructure improvements - Olympics/Crossrail/DLR improvements however. Maybe then I will be able to move back Anyone any comments ?
  8. Todays paper very sad http://www.metro.co.uk/news/article.html?T...p;in_page_id=34 Children as young as ten are being smuggled to Britain to toil in dangerous cannabis hothouses, police have revealed. Under-age workers from Vietnam and China are among those working as gardeners in illegal drug factories, often producing highly potent skunk. Gangs are waiving the £15,000 fees they would normally charge to bring people to Britain because the child labour can help generate multi-million-pound profits. An estimated six per cent of all children trafficked here – often in locked containers – are forced to work in the factories.
  9. Sounds supsicious - inform police or better still - Crimewatchers Something similar happened to a friend of mine many years ago. Noises were late at night. Took ages before police took it seriously. Turned out the noises were the stash being hidden under floor boards - that was a drugs depot rather than a factory!
  10. Another one of these cannabis farm incidents reported - unlikely to be covered. This one is in SW London and was let to persons seemingly of Chinese origin.
  11. When I was younger and more foolish -about 3 years back I used to be amused by people from HPC would log onto David Smith's website and question his "wisdom" in being what amounted to a housing bull and refusing to accept that the housing issue was a bubble and discounting the potential for any future problems. Then I read Soros's book, trouble is I read it too slowly and only finished it as the credit crunch really took hold and the US banks & F+F were in trouble - when that happened I knew who was right and who was wrong (yeah better late than never). I previously had an inkling that UK property was overpiced but not the seriousness of the situation. It does not surprise me that David Smith is still bullish as to be otherwise would be a complete reversal of his previous views - to which the HPC guy linked accross to - 2007 article - this is it here - http://www.economicsuk.com/blog/000484.html the tone of his reply reminds me of the good old days as well ! One thing from Soros which David Smith has (IMO) never thought of goes something like this: the act of lending makes the subject more creditworthy - in other words take away the line of credit and you will bankrupt someone. Soros was I remember discussing African countries circa 1980 which had bankrupt themselves (and in turn bankrupted the banks which were stupid enough to take on the political risk). Still it can equally be applied to over leveraged house buyers, persons with big credit card debts, companies with debt problems or even companies with no debt but a bit of a cash flow problem (ie Land of Leather). Back then no one thought a country could go bankrupt! US Banking legistlastion had by the way been greatly loosened in the early 1970's and it took the banks a few years to take advantage and get going. Other than the banks taking a few years to get going this all sounds depressingly familiar. Still back then they managed to patch the system back together and Soros was amazed at how they mangaged to pull out of the mire - thats the only bright spot, they eventually got out of the mire! Still if you look at his latest posts on his http://www.economicsuk.com/blog/2009_05.html he is still unduly positive (certainly by XXX standards) but cannot see any obvious housing ramping going on. Maybe the market is sharing his view of the future and that things are not that bad - that could be the reason behind the stock market rally - not to mention the recent rise of sterling. Time will tell. OOh have I been converted to a HPC Bear. Ps double post - also posted on a certain other bulletin board known to some on here
  12. BUY TO LET INVESTORS BEWARE - A NEW PERIL TO WATCH OUT FOR IS YOUR LET PROPERTY BEING USED AS A CANNABIS FACTORY? I am not being facetious. Working in the insurance industry I have seen two claims recently (could be coincidence but does not seem so). Clients have let their properties, only to find that the so called tenants have messed with the wiring, blocked out the windows, knocked holes through walls, place stinks like...a cannabis factory. Unpaid mega electric bill. Costs a lot to fix + Insurers are unlikely to cover all or at best a small part of damage caused. A quick look at google shows a fair number of newspaper reports http://www.times-series.co.uk/news/3858459...nnabis_factory/ This one was similar to our examples Best way to protect yourself as a landlord is to carry out regular inspections The culprits may or may not decide to live in the premises themselves while this is going on. Police advice http://www.residentiallandlord.co.uk/news1743.html My main point is that I think there is a lot of this going on....be careful
  13. Maybe but after doing say 10 years in the public centre thats still a fair wack of a pension to be paid for by you and me - Multply that by size of public sector and its a big thing
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