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w_n_s

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About w_n_s

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  1. You have to laugh these articles and how they are worded: Now, i'm not that into my economics to understand fully what the above means, but i'm clever enough to know that the following is not good: They may as well have newspapers stories saying "Lots of bad things still, some good things happening" . Even when things were good, i'm sure bad things still occurred. Winds me up how little small things are singled out as things returning to normal.
  2. And while decent folk stay away from the north - the spides and scum will reign supreme. Myself and the wife have lived in the North our whole lives, and it really isn't as bad as you make out - sure there are loads of Dodgy areas, but most can be completely avoided. South has it's share of scum as well to be completely fair, and there has been a spate of rapes in that area in the relatively safe parks you speak of, so it's not completely safe. BT9 can't house the whole of Belfast, so it's really time we all took the streets back from the scum, especially here in North Belfast where there are some really nice streets and decent sized houses. Otherwise we'll all be forced out into the Sticks.
  3. Belfast needs another BT9. It's overpriced because everyone wants to live there. Houses up around Cavehill / Antrim Road / Waterloo seem rather nice (BT15). That's what i'm going to go for. Once the richest part of Belfast before the troubles came a long and the South took the crown.
  4. missed it - what was it about?
  5. I've accepted my fate. House I bought in 2006 at £149k (£130k mortgage) has a rateable value of £80k - so in that respect I am doomed. On the bright side i'm mortgaged fixed for the next 5 years (got in before the banking collapse last year). Also my next door neighbour bought in the summer of 2007 for £240,000 . (Lolz) If things slump to rock bottom - i'll suck it up and buy a decent sized house and rent this one out - obviously i'll be losing the difference in mortgage vs rent, but i'll be making up for that by living in a larger house. I was silly, should have waited, but sure - you live and learn.
  6. http://vlistdcv.lpsni.gov.uk/propertydetai...Richmond+Square http://www.propertynews.com/brochure.php?r...=1&sort=h2l Up for £150 k - RV £80 k Won't be long till this is reduced again.
  7. whats the chances that the "Yuppy Apartments" end up becoming social housing anyway!
  8. I have to agree slightly with the above. Guy in work keeps winding me up as he is sitting waiting to get a bargain whereas I bought in 2006 (probably reading this now) but on the other hand, if the prices fall to what some people on here are hoping (ridiculously low prices), then I'll use my savings to buy me another one along with the house I have now. Those who have more money than sense may do the same. So if I find myself in neg equity - i'll simply rent this one out, and buy a new one at what will be a bargainous price! Simple. Roll on the price crash. Or not. Luckily i'm in a position where either way would suit me as I am fixed interest rate for the next 5 years. On the one hand I can laugh at all those waiting on a crash if it doesn't happen, and on the other, if it does happen, I can go buy myself a nicer house on the cheap!
  9. I bought an end terraced house in June 2006 - In Belfast. House was £149k. Mortgage for £130k (I put £20k down). I could pay another £20k off my house if I wanted. The house next door to me sold for £240k in the summer of 2007. The house next door to them is currently up for sale (and has been for quite a while) and is now down to £150k and still not selling. I had my house valued at £160k, but the EA did say that you'd be expecting offers of around £145k - £150k even if you got any at that. The rateable value of my house as of January 2005 was only £80k. Are prices likely to fall to rateable value? If so, then tough luck for me. I'll have to just work something out for the future. Unfortunately my house is only big enough to accomodate myself and my wife and possibly a young child, any more than that then i'd really need to move. I would say I would need to be moving again sometime within the next 3 - 5 years, if by then I have at least 1 child. But then - thats the other side of it. People refusing to sell and go into negative equity will have some effect on prices, there will always be those who are or should be in the position to move up the property ladder, but won't, meaning there will be a shortage of houses for those coming in at the bottom. This will have an affect on whether the prices will fall to rock bottom. I understand the expectation of a rock bottom crash - and think that it would do the housing market a world of good, but supply and demand could be the cushion that will take the edge of this. Either way - if a crash occurs, i'll just suck it up and buy another house, and keep this one. That way I can make up on any loss on this house, by getting a new house very cheap.
  10. If this is the one I think it is, then it was between January - June 2006. I was a FTB at that time and Kirsty dropped the ball that if you bought a house in Belfast at this time, it would be worth 50% more in 5 years time. This really frustrated me and did contribute to me rushing to get property at the time to avoid crazy prices. I was screaming at the TV due to the fact that when looking around, crappy houses in bad areas were on sale at +£100k mark which was ridiculous and my wage at the time was only £22k. At the time I knew things would only get worse. .
  11. have to agree there. I mentioned a payrise in work (will there be one this year?) and everyone looked at me funny and the general consensus was "your lucky you have a job...". But currently our company is doing fine. Some employers will use the recession as an excuse to save money. My company did their best 4th quarter ever last year and still scrapped the christmas bonus, cut down on the Christmas party money, and I think the yearly reviews are being scrapped so they can avoid pay disputes. It's a vicious circle, as by doing this, there is less money in my pocket and the economy is worse off. First thing i'd do if I was Gordo would be to stop the press printing bad news about the economy as it makes everyone very scared, worried and causes companies (who aren't doing badly) feel the need they have to cut back, and therefore making their employees spend a lot less. Companies who aren't doing any worse prior to the downturn should be forced to carry on as normal IMO . The credit crunch and recession seems to be some sort of self-fulfilling prophecy in certain areas.
  12. noone knows whats going to happen. either way I couldn't care less - we're all fooked one way or another. I like discussions that explore all possibilities for crashes and rises. It's even better due to the fact that these economic factors have never happened before so everyone is blind as to what could happen next. I also find it funny how worked up some people get about it all. p.s. When I signed up, I didn't know what Bull or Bear meant and chose one at random! I stick by that choice! Anyway, i'm hooked, and this thread is pointless. People can have opinions either way and it doesn't necessarily mean they are right / wrong or talking the market up or down. It's only an opinion and I for one like reading peoples. EDIT The more I think about it, the more i think the original poster is poo'ing his own pants incase prices do go up, because he's been waiting around these forums for 3 years waiting for a crash and if it doesn't happen soon, he can soon see those 3 years as being a waste of time when he could have bought in 2005. Can't see any other reason for the existance of this thread.
  13. They aren't lying. Houses that are being put up for sale now are being put up at sensible values. Whether anyone buys them at the sensible values is another thing. A lot of people who put their houses up in the summer of last year are refusing to accept their house is not worth that much anymore, and these are the ones who are dropping their values like flies as they one by one realise noone is going to hand over that amount for it.
  14. Also if the rumours are to believed about housing shortages, then this will also affect how low things go and for how long. All the discussion over whats going to happen is a waste of energy. Noone knows how bad things are going to be. You are better using your energy into figuring out how to make money (or accrue assets) that will help you through hard times whenever or however they might occur. (whether that is now or in the future). Property is not the answer. Hard work is the new get rich quick scheme and rightly so. I've never been in debt to a credit card in my life. All this talk of credit crunch has me thinking "What credit crunch?". I was never dependant on it, but I am being punished with a lower house value and crap interests rates on my savings all because some people are greedy. Don't get me started on people who are fully capable of working, but claim benefits for years because after bills and food etc "it pays better than working". http://news.bbc.co.uk/1/hi/magazine/7816500.stm makes my blood boil . Also, lets not forget that there are supposedly LOTS of FTB's out there holding off. Can they all stay where they are forever??? I'm assuming circumstances will change for some and they'll soon be forced to have to make a choice. You could see a snowball effect in that once some FTB's start to move, the rest follow suit. This probably won't cause a rise in prices, but will see less houses available.
  15. The supermarkets are making profits through all of this - they will be the only ones who win. Soon they will all team up and form one gigantic food corporation. Soylent Green anyone?
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