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House Price Crash Forum


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Everything posted by tennaval

  1. wadya think guys, is this the dream cornish home youve been looking for? proper job!
  2. is this the worlds dumbest attempt to add value to a property? Even if they are all high on mushrooms WTF !!!!!!! proper job boy!
  3. The people in the central areas of Penzance around Morrab gardens, regents Square, Penlee gardens dont have jobs, they are mostly retired types, teachers, public sector, art admin workers, lured by the psuedo sophistication of the proliferating legacy art scene and the glistening expanse of Mounts bay ........and now wishing somebody had warned them about the drug problems, lack of parking, and evening revelry as teenagers run amok on friday and saturday nights. Not to mention the general drudge of hoards of ruddy faced fleece wearing over 60s traipsing aimlessly across the cobbles past the growing legion of charity and pound shops. A large percentage of the rest of the town to the north, largely unseen by daytrippers is on benefits, and are among some of the poorest wards in the country. Fishing and agriculture in decline Tourism and objective one is the only income. The more desirable areas in a 5 mile radius, like Newmill, have a surprisingly high turnover of ownership, as many did not anticipate and cannot hack the miserable weather of interminable rolling mists, wind, constant belts of driving rain from both the North coast and the more sheltered south. Those that can afford it often scurry back to the south east. Its very scenic on its day but my god take the rose tinted specs off before buying. I havent noticed it myself, but I hope some here are right and prices are falling, the polarity between the average wage and house prices is an absolute scandal and is one of the most marked in the country if not the top.
  4. have a large str cash fund @ 4% in Santander for another 18 months (with free exit) and i'm employing exactly the same attitude as you ignoring general cost of living inflation and keeping eye only on house prices in target area, I'll wait as long as it takes as prices are going one way
  5. editors have switched agenda from feeding greed to instilling fear.....its happening folks................ http://www.dailymail.co.uk/news/article-1295806/House-prices-fall-flood-owners-rush-sell.html
  6. in the interests of documenting for posterity this media reversal ........ http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/7894731/Are-house-prices-set-to-fall-again.html http://news.scotsman.com/business/House-prices-could-fall-by.6425428.jp
  7. poetry ................pure poetry BBC - House prices: Surveyors expect property prices to fall Telegraph - Home sellers hit 3-year high 2 hrs ago Guardian.co.uk - Property demand falls as supply rises, says Rics report 2 hrs ago Mail Online UK - The house price slump may last a decade, say experts in unprecedented warning to homeowners 3 hrs ago Press Association - Further house price falls predicted 7 hrs ago Reuters - UK House price balance hits 11-month low in June 8 hrs ago
  8. oh what a beautful morning........ Telegraph Home sellers hit 3-year high 2 hrs ago Guardian.co.uk Property demand falls as supply rises, says Rics report 2 hrs ago Mail Online UK The house price slump may last a decade, say experts in unprecedented warning to homeowners 3 hrs ago Press Association Further house price falls predicted 7 hrs ago Reuters UK House price balance hits 11-month low in June 8 hrs ago
  9. Dont worry imf will be in safe hands soon....... http://www.timeslive.co.za/business/article449241.ece/Brown-rumoured-to-be-new-head-of-IMF
  10. Spot on Patrick Collinson. Why Vince and the Tory/Libs should stick to their guns on CGT....... In todays Guardian Money (Wanted to put on HPC front page but dont have the skills/know how)
  11. i have STR fund (£250000+) with Santander @ 2yr 4% (no withdraw pen) had they pulled it i would have definitely used this one without hesitation. Given the circumstances and rate above now reduced, its he best deal around for an STR fund.
  12. Had never heard the term "cornish unit', is it just a a euphimism for a particular prefab, like woolaway, or does it mean it's mundic infested too
  13. Still dont think they will get anything like that with it being so close to B3315, people retiring and spending £480,000 wont want traffic noise. Plus i think (hope) sentiment is really only just at a mainstream tipping point right now as people are waking up to the grim economic reality. yes you might be right about the second one ( first saw from you on C24! I think) madness isnt it? In someways its quite representative, encapsulating whats happened to the region as whole. it's the new cornish vernacular, having swung from stoical well made dressed granite with scantle slate roofs that housed miners and farm labourers we now have charmless cement rendered, subdivided flats housing people on benefits or on minimum wage in the tourist industry.....depressing and why I have had to change my lifelong ambition to return to Penwith....its been a difficult process...but despite being blessed on its day with some of the finest scenery in the world......its culturally so messed up relying totally as it does on retirees and holiday makers.... i have known 7 groups of people who have moved there who simply couldnt hack the weather and suffocating parochialism......sorry if dampening others enthusiasm.
  14. Tesco riding high, expanding well in USA (fresh and easy) share price at 52 week high, and Warren Buffet has just topped up to own 3%.
  15. Why? Why is there a deliberate policy by Mervyn King to continue devaluing the pound. Tell me wise ones who know. From the very start of the "crisis" his public statements and speeches were clearly constructed to devalue the pound. Was the reason behind this just to give extra traction to the UKs phantom exporters? Out trots Merve and says a weak pound would be 'helpful' in rebalancing the UK economy. Oh, fair enough, thats all right then. Is the BOEs thinking really this one dimensional? Or is there an another agenda? I'm not an economist, but i dont think you have to be to realise this country is totally and irredeemably fooked.
  16. what assumptions are "highly debatable"? Santander IS one of the largest banks in the world, 7th in terms of profit, with largest retail network in the western world (10,852 branches). Santander HAS had a conservative ethos for over 150yrs. Santander CONTINUED to make profitis throughout the crisis. (despite meltdown in some sectors of Spanish property) Santander IS one of the strongest banks in the UK.
  17. I have over £300,000 (str) with santander in fixed rate bonds and the same ISA. one of the safest and largest banks in the world. Traditional ethos. Well run. Have continued to make profits throughout the crisis. Understand your concerns but imo you are making the safest choice in UK.
  18. like many i am just trying to work out how best to protect hard earned cash for retirement, im not an expert, i'm 52 with zero pension and my instinct tells me over a 15-20 yr period a basket of blue chips which as AZ points can comfortably provide 4.5% div and historically (over 15-20yrs) outperform cash is preferable to plumping ONLY for cash in an inflationary environment. Does that really make no sense to you?
  19. No they cant tax your isa pot. But my point is how much is that pot going to be worth, it will be seriously eroded over a period of years from inflation, even with the tax wrapper and maybe the smarter option is to put into a blue chip fund or an income and growth fund, because we are entering a highly inflationary period, and in my opinion central banks will manipulate and skew rates to erode debt whereas, big companies will ultimately always find a way to keep their margins. None of us know but this is my instinct.
  20. Point taken, also the benefit to higher rate tax payers. I must admit it was my game plan to do exactly this, however, I just doubt whether salting away good money year on year into a cash isa pot will be as good a protection from inflation as say a basket of blue chips that will preserve their margins over the longer term no matter what. I guess the obvious answer is to spread it around......?
  21. whats the point of cash isas? when you can and have been able to get better rates net of tax elsewhere for quite a while now? Certainly the case on the shorter term products anyway, Is it just the magical notion of "tax free" that is the pull or am i missing something, do people hope that when interest rates rise isa rates will somehow adjust more favourably with taxable products....?
  22. Agree with most of what you say. House prices in relation to income second only to Japan I believe. The lower end of the market has as in your example held up relatively well in areas of demand ie. prosperous commercial areas. However the middle of the market has been hit, for examples 300-600,000 euro bracket has been beset with lower transaction numbers and agreed prices often 15% off peak. Italys property market is very different from Uk and its almost impossible to make comparisons. The Agencia territorio which collects data, publishes offical figures by province on a square metre basis, it lags by 6 months, and trends are consequently heavily smoothed. It really is such a completely different set of circumstances in Italy to Uk, not least the pooling of wealth and economies of scale derived through extended family often living under the same roof. It is actually a very good time to buy at the moment in those areas popular with Brits, eg. Umbria, le marche, abruzzo, as many cant afford to stay. You can buy in sterling. The problem is however hard you negotiate, you will face the same problem of ongoing survival with a trashed £ in a country which is every bit as expensive as our own. That said its a beautiful country, and still well worth the trade of lower disposable income.
  23. Thanks that's a really good option to consider!!!!!!
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