Take me to the cleaners

I just want to share this one with you all............ http://www.hendys.co.uk/residential_sales/.../100006187.html "Brookfield Avenue is a real up and coming area - get in there at the start and be part of its evolution." http://news.bbc.co.uk/1/hi/england/west_yo...ire/4289153.stm This house was on the market for about a year until the spring at £149k. Had a look around it and its a dump. There area was drug infested HMO, BTL, bedsit land - "up and coming" - how fast a leopard changes its spots. I do think these EA's descriptions are a bit close to unlawful at times - they recently advertised a property indicating that interest rates are coming down. Anyway, this is just a short interlude post...you can get back to discussing economics now.

And an obvious point arising out of the continuing (large) numbers of house purchases in the UK is that as more and more people stretch themselves with large mortgages, the faster sentiment will change as there will be more people grumbling when things start to go awry. It sems to me that it is in the interests of HPCers that there is a continuing large growth in overstretched purchasers, as it makes it all the more likely that there will be a catastrophic readjudstment......sad and ironic as it all is.

"13.8% of BTLs have been landlords for less than one year. 7.4% have been landlords for 1 year. 21.2% of BTLs have been landlords for 1 year or less" I've have not come across many landlords who are members of ARLA in Leeds or London where I have both worked as a housing lawyer. Incidentally, I'm seeing an increase in unlawful eviction and landlord harassment - mainly by the amateur brigade - and I'm also seeing an increase in mortgage problems. Its a good time to be a housing lawyer.........bad time to be a purchaser!

Harehills http://www.rightmove.co.uk/viewdetails-126...=1&tr_t=buy What do you think? # Musy Be Viewed # Noonward Chain

Sounds uncannily like me. I'm thinking about buying a back to back terrace for 80k and living a simple life from now on.

I don't understand what you are saying here. Could you explain? However, having said what I said, renting is depressing as well - you know you are contributing to some slime ball's future pension, whilst paying off his/her mortgage (or at least part of it). So either way we lose.

If you dwell on this issue it is all rather depressing. The choices are between getting into punishing debt; buying a hovel; living with relatives or renting for the forseeable future. The best thing to do is just rent and forget buying a house as any crash (if indeed there ever is one) is still a long way off................ I've not discussed the issues in the article because its just going over old stuff time and time again and its all been said before.

Its sold - have you bought it?

Renting does suck in the UK and we have Thatcher to blame for that. She got rid of the Rent Act 1977 which protected tenants from eviction and also regulated rents so that Landlords could only charge a "fair" rent. Assured shortholds were introduced as discretionary in 1987 and then became the norm in 1997. Renting was much more common under the Rent Acts which we had for many years after the wars and significant numbers of people were happy to rent from the relatively large professional landlords of the past. We now have a system where loads of small one and two bit landlords rent out properties to tenants who they can evict without any reason. In essence, however evicting them is not completely straightforward. It requires a two month notie, followed by an application to court for a possession order followed by a bailiffs warrant to evict. All of which can take up to 6 months. These banners are annoying.

I find it increasingly hard to believe that the people who spout this sort of nonsense actually believe it.

Curiously I was walking through Sloan Square with my new girlfriend at the weekend. We started having an argument about wealth. She became rather upset at my egalitarian views - she is a free lance math tutor - she said if there weren't people earning large sums of money - where would her clients come from. Fair point. However, personally I would nationalise all housing and give each unto their needs - or something like that. Everyone who has bought a second home and cannot provide evidence that they live in it as their only or principal home would be made to live in a council flat in the middle of a built up area with an person dependent on alcohol living next door. Regardless of income. Just thought I would share that.

Wallace & Grommit are quids in. http://www.wensleydale.co.uk/cheesy.htm

A work colleague who has lived in a B2B in Harehills for years - no mortgage, bought for 3 shillings - says that he is surprised the place is not full of yuppies with current house prices. I know someone else who just bought a property for £65k spent about £10k doing it up and has just sold it (it was on the market a few weeks) for £85k to the Angel Group. They are well known for housing asylum seekers who have been disbursed around the country.

I hope so.

Neighbour asked for a quote for double glazing on his 3 bed semi in Leeds..nothing special. Weatherseal sent their valuer who came with his ruler and laptop...made a few measurements..tapped in a few number and came up with the figure of £36,030! Excluding the front entrance porch and kitchen window. Neighbour complained about the price and valuer then said he could have the followig discounts: Quantity discount - 23%; survey availability discount - 5%, installation availability discount - 5%; marketing discount - 5%; promotional discount 10%. Neighbour still complained and valuer said "don't tell me boss I told you this but our bottom line would be £14,500". Madness. Weatherseal are a big company and presumably people pay these amounts - how? Credit. Any you wonder why private rented accommodation is shabby. Housing stock in this country is set to get shabbier.