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Everything posted by NW11

  1. This is the most controversial bit: http://www.guardian.co.uk/commentisfree/2011/jun/05/andrew-rawnsley-house-prices-construction
  2. I once saw a bathroom shot in an ad with a poo in the toilet. Ewwwwww!
  3. Primark is expanding rapidly. Perhaps they can apply as security guards.
  4. Credit is crunched. In my vicinity house prices are more than 10x Local salaries. It will be a LONG time even with 5% inflation before those folks break even. If the morons want to throw money at property, so be it. Fools. Money. Etc. They might be well leveraged but there are PLENTY of desperados out there who will be flogging their portfolios and crashing prices. I am not even in the least bit worried. Home owners, just bring it!
  5. House prices are going neither up nor down. There are almost no sales taking place.
  6. 1. Their several hundred thousand pounds are likely to have been ploughed back into property so they cannot directly spend their capital. 2. A 75% HPC should have little to no impact on them and many others 3. Or we'll come to a point where their property prices stagnate while a loaf of bread costs a grand.
  7. If sales volumes have dropped 90%, then the 'average price' value is 90% meaningless. The great thing is that it will encourage the hoards of sheep to dump their portfolios on the market and the over supply will drag prices down further. The tipping point will be the huge unemployment to come later this year. Ive a seen a couple of developments freeze in my area, still vastly overpriced at 15x local London salaries. Good luck to them. I wanted to pick them up in a few years where they're being given away. One 1bed apartment in a development is on the market at £190k, another in the same blo
  8. Luckily the student population should collapse in the coming years so will follow and the last vestige of a failed developer will be gone. Degrees are a total waste of money in most cases ( I should know, I have one, I paid for it, never used it and am still doing OK). My student lets were all 9 month long so the LL had to figure a way of renting out in the summer and covering the colossal mess and damage we left behind each term. Most student let land lords never really think the total costs fully through. If they want to sell they have to spend thousands refurbishing and converting it back
  9. And here is the Guardian's marvellous take on boat http://www.guardian....-boat-a-triumph Edit:
  10. No sympathy here. He was reckless and irresponsible with cheap easy credit to finance his pipedream at the peak. That floating hunk of scrap belongs and will probably end up in a shanty town. He could easily have taken out a liar loan and bought a bigger flat in 2007 like everyone else. £80k offers you a choice of at least a dozen 2 bed properties in Southend on Sea today.
  11. My main beef is political. With student fees trebling, these demands are no more outrageous or scandalous than boomers getting free bus passes, winter fuel allowances, eye care and TV licences. I am just glad students are finally fighting back, however groundless their demands are. If a few universities shut down as part of collateral damage for a redress of balance, its a price worth paying.
  12. "It was supposed to be their dream home, but three years after Chris Miller and his wife called in a TV show to rejuvenate their houseboat it has been found apparently washed up on a beach. The unfinished 100-foot long boat, known as The Medway Eco-barge, had been moored in the Thames estuary off Southend since it featured in a Grand Designs' programme in March 2007. It is thought that the boat broke free from its mooring overnight." http://www.dailymail.co.uk/news/article-1352749/Grand-Designs--80k-Channel-4-makeover-barge-turns-Essex-beach-vandalised.html
  13. "Ireland moved to the brink of losing an A-grade credit rating today after Standard & Poor's downgraded the country's debt for the third time in six months. S&P cut its rating on Ireland's long-term debt by one notch, to A- from A, one downgrade away from falling into the B range. It blamed its decision on Ireland's crippled banking sector, warning that the Irish government may have to pump even more money into it if the wider economy weakens further" Link Further downgrades are likely. AAA to junk status possible in less than 2 yrs
  14. If you can guarantee occupancy or if the tenant doesnt try to negotiate the rates down. Personally, I'd be slashing the offering price or put my monies into an ISA
  15. It wont reduce inflation, only raise costs, especially mortgage rates! Roll on rate rises!
  16. This is just another outlet for the student demonstration. If you make students pony up up to £9k per year for the privililage of studying at your institution then you better damn well make sure you deliver. Suing for £100k? Oh dear. My advice to Maria it to calculate her lifetime career loss and sue Oxford for all losses. Add a bit extra to make it punitive. Unless HMG decide to bail out the university, we should all be getting behind her generation. Im not suggesting for a second her claims are legitimate, I only hope it puts the willies up the universities and restores some student/institu
  17. In Detroit at least, house prices have crashed, are practically worthless and will never regain in value. Businesses have long gone, will never return to its past values and the city (public sector) is bankrupt. The only ones making any money are the drug dealers and pimps. Go to Detroit if you want to get robbed or r*ped. People who believe in ever rising HPI deserve to have their lives destroyed. I have lost any sympathy for them long ago. Even if the entire UK crashes and burns, some folk will crash and burn much harder than others. Almost everyone I know has some stake in property. Luckil
  18. LOL! The sellers should offer as straight swap! They're clearly both trying to seek the greater fool if not from each other then the wider market.
  19. Ha ha ha! LOL! Keep the faith. Take it on the chin and have a sly laugh. Most of us here know prices will not only fall back to the mean, they will undershoot. Keep building your deposit and buy in trough (2015). Dont have any sympathy for these pigs. They are just meat to be slaughtered. Buy your next house at 2.5x your income. Good things come to those who wait.
  20. Just know the ceiling and floor for what and where you are looking for. 2011 isnt going to be the year of the crash as we're still wobbling too close to the peak. I say make outrageously low offers and continue to demoralise them
  21. So what you've found is the difference between the asking and possible selling price. In this case, they asked for £350K and have agreed to accept £230k - so that's a 35% drop! Its no surprise they buyers are fishing for a better offer! Lets hope they lose both and the developer gets pissed off and drops his price further!!!
  22. Detroit? Ouch. It is totally God forsaken. Some people will never learn. Fools. Money.
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