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House Price Crash Forum


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About Smog

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  1. I've just (in the last couple of minutes) transferred a big chunk of savings from Santander..... I've been dithering on this for a while now.... decided the risk just isn't worth it. Gone into my Smile (Co-Op) account... should be a bit safer at least.
  2. There are two stories here.... 1. Tax breaks creating a bubble.... this is an old one... yes, Robien / Scellier and the like did inflate the price of apartments in cities across France leading to oversupply... but these prices have already dropped and no-one is buying... the market is stagnant at best and has been for a good few years. 2. Paris property bubble... this is continuing and is in for a fall, they seem to be living in some kind of 2007 dreamland in Paris... this is not reflected throughout France by any means.
  3. Isn't the simple fact that they lost a large order to a German company telling enough ? They may me able to make trains cheaper in Germany as the average German worker doesn't need to spend half his salary on a mortgage.
  4. Agentimmo.... This might be true where you live but it's not real France is it Anywhere where holiday homes make up a large percentage of the housing stock is in for a big crash, stuff is simply not moving and hasn't been for years. Foreign buyers pumped up the market, lack of foreign buyers will crash it. These simple fundamentals won't change in the medium term. Areas where real people live and work are not that bad, round by me the economy appears to be improving, companies are hiring and most people seem cautiously optimistic. Housing market is still stagnant though and 20% off asking price is an expected starting point. I don't expect a further crash here. Could be that I live close to Germany though
  5. This is just simply misleading. Paris can probably account for most, if not all, of the price rises. Anywhere else in France worth living has at best been stagnant for a few years, at worst had a 15-20% fall. Areas populated by holiday homes have dropped even more. I seriously wonder how much these so called experts really know.
  6. I'll just add one thing.... Aren't you two old enough to know better ? It's like an argument between my two kids. "He started it" "No, she started it" "She says sorry first" "No he says sorry first" Can we get back to discussing house prices now
  7. Oberschaeffolsheim... not a million miles from me, but far enough thankfully, it will be interesting to see how they portray that place... people do live there but like most villages around Strasbourg it's a complete ghost town every day but Saturday afternoon. Also just down the road from the sh*tholes of Lingolsheim and Koenigshoffen, not sure the crime rate figure would be nice to look at.
  8. Saw an episode of "Build, Buy, Restore" over the weekend, from 2006. Couple with two kids in a two-bedroom house, believed they had a budget of £220k (including equity in current house), presenter pulls out a figure from an envelope they really could borrow of £335k. So off they set looking at options, turns out they choose the build option, at £380k after being persuaded to somehow manage to overcome the £45k shortfall through bridging loans, re-mortgaging at appropriate point etc.... The presenter was really pushing them to stretch themselves. He then let slip it would be an IO mortgage. How the F can they gey away with that ? Actually felt sorry for the couple.
  9. "where is all this money going to go?" What money ? There is no money, just countless numbers of empty properties with yet-to-be-realised-profits which will be impossible to sell.
  10. Not had any problems with Smile in the 8 years I've been with them, apart from being a bit keen to block my card every time I used it abroad without telling them... prefer them this way though.
  11. This is a timely reminder to me too... Be transferring my money to Smile (Co-op) tomorrow.... if they'll let me that is.
  12. Although I'm with you in principle 100%.... it is a fait-accompli. Savers are going to continue suffering. Never be a saver when the government is a huge borrower. Time to live by this maxim.
  13. ....as opposed to the Daily Mail, for the hard-of-tolerance masses.
  14. redwine.... the petitscailloux link was me... have to spread the word Seems the woman who found out the agent has overpriced her property by 44k is not too happy
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