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House Price Crash Forum


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About carrera

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  1. Developers at the high end and low end of construction have been gong pop sincemid 2008 - however, I know of two companies going from strength to strength ..they have minimal debt exposure .... debt is not wealth as they say !!
  2. I don`t doubt it - my point is that anybody with commericial acumen (which lawyers are expec ted to have) would have taken proper advice on the risks; partnership may be the top of the greasy pole, but those who go into blind need a wake up call or deserbe waht they get. I am not sure about the personal security issue - but given that the bank wanted a heck of a lot of security for their exposure, I would be very surprised if there was not a guarantee in there somewhere. Perhaps I`m just being sceptical but i`ll watch this with interest They won't be the last - and their failure will cause banks to tighten the screws on other firms ...
  3. The writing was on the wall for Halliwells over 12 months ago - it always leaves me speachless how finacially inept and niave some partners are in law firms. For guys who advise clients on risk aversion and assessments - they really should read their own small print. I expect this will not be the last firm over the next 12 months - however a lot of other firms are posting big profits on the back of mass redundancies and partners culls ...
  4. Its simple - if you can`t afford to take the hit don`t take the risk ... would they do the same in the Uk? Probably not .. amazing what a bit if sun and marketing spiel can probably change quite sane minded people into muppets ... history has no sympathy for fools..
  5. At least they were kind enough to give us own assembly ..... joke that it is .. nobody wants it, scrap it and the ministers and give the money saved back to the private small businesses that are the growth industries of the future. They are the future of Wales - thhe days of big back handers to foreign companies to set up only to leave when the subsidy dries up (e,g. LG) should never return. Wales has plenty of talent that is happy to remain indigenous .. it just needs the incentive, the opportunity and less red tape. They need business advisers and mentors who actually have run successful companies to advise them, not overpaid bureaucrats who have bought a book of the "in" phrases to use in business and have all the commercial acumen of a paper weight. rant over ...
  6. I think tke new key phrase is people being "performanced managed out" .... been happening in the private sector for years .. people in the public sector now realising that they can be dealt with in the same way ... as someone has already said.. you can move the goalposts !!
  7. I have a friend who is an employment lawyer and he is dealing with a few high level Public sector redundancies - so they are going .. and no not all are getting their pensions
  8. The senior managers in the "Know" have already left ! The expendables remain ... this is not going to be pretty ... If the emergency budget next week doesn`t make people realise what level of kak we are actually in .. then god help this country ... I meam how stupid are people - when was the last time any government had to have an "emergency" budget .. the clue is in the phrase ...
  9. My parents recently completed on a property in Abergavenny with just over an acre and a half of grounds - they have sine spent nearly 200k renovating the place, but it will look amazing when it is finished. They are in the process of buying the land around it as well The guy who sold it was in financial trouble, apparently there are quite a few who have bought in the peak looking to offload - however properties with land are being snapped up for silly money as there is more chance of development being granted .. may explain some of the silly prices.
  10. Spoke to another agent today who said they were doing an awful lot of valuations - but sellers were shocked by what they "perceived" to be the value and what they would realistically need to drop to get a sale ... I notice Nice at Home pointed to some homes in Langland supposedly show the Swansea market is flying ... hmmm ... well, they are not typical swansea properties - and I can show you houses in Cardiff and Swansea that have sustained "losses" or reductions to a similar level or more. Two big sales does not a market make and in my view is no indication of a buoyant property market in Swansea. As i said before, we are just about to tip over the edge for the next slide ... anybody who thinks otherwise needs to review the basic fundamentals that cause HPI, then apply them to the Uk.
  11. TMT - this is exactly why I was telling you to ignore the SSTC signs ... so many are falling through at all price ranges it is almost epidemic. Talking to an agent last week and she said it was becoming a problem .. for those with less than 40% deposits and an excellent credit record i.e. no other debts !!
  12. Whatever the bank values it at !!!
  13. The rent the BTL brigade want relative to what they can get (I am guessing the management fees have something to do with it) is at somewhat of a disparity. Prices have taken a big hit - and I understand that one or two have been repossessed ... but I have not seen one myself. But I have seen several repos on the marina as a whole. I heard some guy from Llanelli bought a few of the more expensive ones ... he has done quite well out of mobiles from what I gather ... but it looks to me like most of the "more expensive" flats remain vacant still and unlet. Just more of these nasty "rumours" again I guess !
  14. This would be the first I have heard of it - and my contacts are pretty up to date ... any more news on this? Would be catastrophic for resales at the tower. They can't rent them as it is!
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