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House Price Crash Forum


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  1. It is all about supply and demand. But the fact is that when the building firms sees no profit from work they will stop building. This will in turn restrain the supply and push the price up. Some replies given examples of "builder lower the price as they were out of work or house sold for a fiver" are not typical healthy economy views. What those examples described is "racing to the bottom" and will cause poverty among the general public. Such penomena will not last long.
  2. We are talking about a national building firm, one of the biggest in this country not some cowboy build who's got no clue of what they are doing. The house was done to a fairly high standard and also sort of suits everyone's taste (neatural deco etc). My point is, obviously they have tried very hard in every respect to keep the cost down while make the house appeal to the buyers. It is very well to talk about supply/demand but there is a rock bottom that you can not fall further.
  3. Obviously this topic will cause much of “discussion” on this forum. Ok here are the facts: I recently purchased (April 2012) a second hand house that was built and completed on April 2008. I have received a document named NHBC (its a garantee for new build house, lasting 10 years) which stated the following: • The house was sold on April for just fewer than X GBP • Out of those X GBP, y GBP (45% of X) is planning permission/plot cost • Out of those X GBP, Z GBP (40% of X) is building cost (material + labour) • Rest are marketing cost and building firms profit. 200k GBP < X < 400k G
  4. I am not a cash buyer. But the mortgage offer and my saving statements has been passed to the EA. They said it is an valid offer. I have in my hand, a piece of paper saying "sorry your offer, £94,500, was not accepted" with EA's logo and Signiture. it was 9% above the price in Land Registery data. Thank you.
  5. I was shocked when I discover this: Back in Dec 2008 I offered an house with £88,850. EA comes back and tells me that there is a bidding war and I am not the highest bidder. I increased my offer to £94,500 in writing. Kind of liked the House and I can afford it. Still got it refused as EA said there was a higher bid. I quit the bidding war since then and never heard anything back from EA. Today when i read the www.houseprices.co.uk, I found the same house was sold £87,550 in Feb according to Land Registry. I could not believe what I saw. There should not be anything wrong with my offer as
  6. I use to think that the recession is still far away until I meet my friend Rick last week. Rick and I were friends since the University. We were flat mates for two years, joined same sport team and really close. After that, he trained and worked in law firm in London. Rick qualified as a solicitor and lived in a luxury two bed room flat in east London. I use to stay there during holidays and jealous about his life style. He bought the flat from his landlord in late 2006 at £295,000 with an interest only, 100% mortgage. His monthly payment for the mortgage was far less than the rent and, in
  7. Well why would I change my name? I have rights to have that name here, ok? Plus your name and my name is not that similar. If it annoys you so much, could you please change your name? Forget it or live with it, your choice. Regards Hotmail
  8. Well I said it many times that I am not a native english speaker. But I do believe that the post I was making has made a clear point and was supported by facts. The fact of I am bad at english does not mean that I do not understand economy. I can speak 日本語, 中文, 한국어 and read German. Does that increase my credit of knowing economy?
  9. I dunt know what your are talking about. Borrowing the way out of a recession has been proven to be effective many times by history.
  10. They are not twit. They just have to act as a retard to get elected.
  11. Dear all: Lately I spent some time on this forum. Many deep thoughts were posted and discussed here. I also noticed one thing; a lot of people here are blaming Labour for this recession. It is not all Labour government’s fault. The recession we are in now, is a common capitalism problem. It is caused by greedy nature of human beings. People want to enjoy a low tax, good public service and more cheap credits to buy stuff. What they do not realise is that; it is not possible have both at the same time if there is no boom. More will be paid in the bust time. Imagine in an election: "Labour is
  12. Most people on this forum will tell you that the house price is falling and your offer is too high blah blah blah. Your seller, a "property developer", should know the house price falling better than you does and if he does not want to sell, it means that he may have other options. I am sure that you know what you are paying for. From the story you tell, you seem to be streching yourself too much. I hope you got some money for legal service and mortgage fees. At this moment, if I am buying a house of 200k, I would have at least 220k available just in case anything want wrong.
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