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House Price Crash Forum


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About dmmillers

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  1. You got that right. I'll never know whether it is total stupidity on the sellers part, or if they're blinded by greed. Some say, oh..they cant afford to sell cheaply....then dont clog up the market with over priced stock..noone is going to buy it anyway. you hit the nail on the head 3.5 years and counting.
  2. I concur. It was a hell of a result, but there are fools out there wanting even more. There are some on this very forum who suggest I am stupid to sell at a knockdown price. Its not a knockdown price at all, its realistic in todays market. Incidentally, the same 50k in 1996(Kilburn Lane), still reaps a 500% profit, even in todays market. My friend bought one, but they have convinced themselves it's worth more, just because some clown paid 325k at the peak.
  3. because the doubters are wrong, they can't see the wood for the jealousy thats all. check the sold prices on this very sight, key in sw3 and you'll see the 500% increases yourself. key in w10, kilburn lane and i can tell you flats that cost 50k as late as 1996 peaked at 325k in 2007 and would easily fetch upwards of 250 even today, and thats only kilburn lane for crying out loud. I've got better things to do than prove what my flat cost and what it sells for. just cos you might have missed the party dont try and convince others it didn't happen.
  4. Right now in all seriousness we can echo the chorus, 'Next year of course', or 'the year after that'. This march is to a new beat.
  5. An 18-24 month wait won't do any harm at all, and even then you'll still have the pick, because prices are going nowhere after they bottom out. [ quote name=adamLancs' date='Apr 1 2009, 12:42 PM' post='1781813] I've been waiting 8 years for house prices to fall to something affordable, 2 - 3 more won't do me any harm. Or will it?
  6. Too true. just for a laugh, approach an agent, as a seller, then buyer, (in diferrent accents of course, disguises purely optional), and it's shocking the contrasting stories they'll tell.
  7. Spoken like a trully desperate seller. I should know, I was one. I beg to differ, the bottom is a long way off and it will stay flat for a lot longer than that, I'm afraid.
  8. Sorry squire, I of course meant 'does not mean an end to this'. The bull run is over forEVER, chap.
  9. I salute you for not being too greedy. You did the right thing, if you had to sell of course, and should consider yourself lucky with that 500%+ profit, even though you got the place a while back. It must be quite a nice place to have risen by quite so much. The clown next door wont get anywhere near 300k for another 20 years. Each offer they reject is good money lost, forever.
  10. If they had unemployment insurance, The stae will pay their mortgage. Shocking but true. Thats what the nanny state is all about. Its not only designed to help out poor single parents, but its exploited by middle classes too. If they've got more than 8k savings they'll get nought. Thats a stupid rule. Like anyones gonna spend their last 8 g's on bread, then sign on. Of course they should sell their house rather the state pay for it for them, problem is it wont sell, though. problems problmes, who'd be the chancellor...
  11. [ I sure wish all the speculative sellers out there, could read and understand that sentiment. quote name=cashinmattress' date='Mar 31 2009, 11:30 AM' post='1779413] You will know it is time to buy property when it starts to make sound financial sense to do so. Stocks and shares halved Markets irratic Currency down Unemployment up Industrial output down Consumer inflation rising Asset deflation IR's zero Weak government Do any of these seem like positive indicators? Tell your estate agent and their nil qualifications to feck off. Panic not, as the bottom is a ways off and will hover there for a long long time.
  12. I aggree, only the desperate are buying and selling right now. And that does mean an end to this, like the agents keep saying.
  13. I get e-mails from estate agents every day saying now is the time to buy. Nothing could be further from the truth. The dead cat bounce is not a time to buy. If it were, agents wouldn't have the time or inclination to pester and lie to former clients.
  14. It is exactly this kind of greed and stupidity that has caused this crisis. I bought a studio next door for 50k in 1993, and have taken a 28% whack off the 2007 valuation of 360k, and am about to exchange at 260k. The flats are nice and it is Chelsea, but what you could have got in 2007 is meaningless compared to 500% gains by selling realistically. They look at me now as I have cost them money, and I wouldn't mind if I have, they can afford it. They are like greedy kids who missed the ice cream van...well it's gone folks and it aint coming back anytime ever. They'll get 290k tops and a lot less if they wait till the market bottoms out.
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