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House Price Crash Forum


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Everything posted by Darxide

  1. Already factored that in. Not saying I'm planning to buy yet, and when I do I'd rather it be a house as an apartment, just pointing out how the value of these apartments has tanked. When I moved in, there were still a few unsold units on at ~ £130k.
  2. If thats true, then the 'value' of each unit is a lot less than my rent! Using very rough math, I could buy one on a 15 year mortgage for the same as I'm paying in rent.
  3. Anyone know where to look for the results of auctions? Basically, I'm in a private rented apartment, and 2 of them in my development went to auction this week with a reserve of £100k for both! I'd be very interested to see what happened. I think it was handled by BTW.
  4. I just signed a 1 year lease on a 2 bed in the east (Dundonald) for £550. (Unfurnished) It's a fairly recent build, has good space, and comes with 2 allocated parking spaces. Similar apartments in the same development are on at £139k, so although I do kinda agree with BelfastVI that in 'some' places, buying is cheaper, well at least no more expensive, it's certainly the exception rather than the norm. I'm too lazy to do the math, but I'm sure it would cost me around £800 - £900 p/m to buy the place I'm renting, even if I could get a mortgage!
  5. Just turned 34, earning £30k. Single, and currently living with parents while saving for a deposit. However, I have now reached the conclusion there will be no crash, only a very slow grind down, or prices slowy eaten away by inflation. Well balls to that. I'm not gonna waste any more of my life waiting on houses to be affordable. I've decided to rent a nice apartment (going to see one today actually) and spend my savings on a sweet new car. Possibly German! Game over for me. No more waiting. Lifes too short.
  6. And in other news, 90% of young adolescent males surveyed said they hoped to buy a Ferrari someday soon. Better tell the factory to ramp up production!
  7. Indeed. And such a move can also backfire spectacularly. I used to work for a Japanese owned company making seatbelts. We supplied lots of major car makers. Anyway, to save a few quid, they moved to Poland, and we all lost our jobs. I was talking to one of the old engineers recently, who went over to help set up the new plant, and he told me that it's already closed! The quality was so poor, that they lost most of their major customers. And the plant closed after only 2 years! Can't say that I'm sorry to hear that!!
  8. Thats exactly what I was thinking. The mood here has slowly changed over the last few years. People are starting to come to terms with the reality. I think we (Northern Ireland) are now somewhere between 'fear' and 'capitulation'. The rest of the UK seems to be still stuck in the 'denial' phase. How much longer until you catch up?
  9. Didn't hear them complaining when the press were talking the market up!
  10. Thats true, but there is a world of difference between wanting to live in, and being able to afford to live in.
  11. There are a few 'under contruction' developments in my area, that have been left unfinished. Story was that the builders were unable to find buyers, and were waiting on the recovery before putting any more money in. Well, a few of the unfinshed sites are now up on PN. Being sold as unfinished, or with planning permission granted. Are they finally realising that the 'recovery' isn't coming? And trying to cut their loses? Example 1 Example 2 Example 3
  12. Ah I see. Well being born in the late 70's, I suppose I just about qualifiy as a Gen X'er (90's youth). And yes, I suppose I did miss the boat. I've hit my 30's now, and unless something drastic happens, I can't honestly see myself ever owning. I'm not bitter about it, unlike many of 'my' generation, I'm perfectly happy renting, as I'm not prepared to give up my standard of living. i.e. to pay £1000 p/m to a bank rather than £500 to a LL.
  13. I would be in favour of simply scrapping 1p and 2p coins altogether. It would force shops to stop that stupid policy of making every price end in 99p to make things appear cheaper!
  14. Well for a start, how was someone umemployed allowed to build up £4k worth of credit card debt? Reckless! Maybe he did that while working, then became unemployed. In that case didn't he have payment protection insurance? Again, reckless! In either case, he made the mess himself, and I have no sympathy for him. I have been there myself, about 10 years ago, company I worked for went under. I owed a few grand on a CC, but, I had PPI. They made the payments until I found another job. I know PPI is sometimes umpopular, and seen as a rip off, but if you decide not to have it, then your taking a risk, and if you lose, your in no position to complain that the system is unfair!
  15. I want the media to stop reporting house price rises as 'good news'... 'Petrol to rise again!' Disaster! Lets all strike! 'Food prices set to soar!' Oh NO!! 'Electrical goods cost more than anywhere else!' We're being ripped off! 'House prices set to soar'...YAY!!! Your gonna have to pay a lot more for that roof over your head! Isn't that great news?
  16. Up to 20,000 cut from a workforce of 220,000! That seems conservative to me. I mean, I hate to see anyone lose their job, but does a country the size of NI really need 200,000 civil servants?
  17. Yes, and why don't they just tax us every time we inhale! Honestly, who comes up with this stuff??
  18. Been seeing that myself. In my area, there are more and more houses coming on at below the £100K mark. 2 years ago you would struggle to find anything below £150K Interesting description on that one you linked, "being sold as a shell!"
  19. Can anyone give me some advice before I talk to the bank, in case I'm wasting my time?... I have recently changed jobs, recently as in 5 months ago. It's a much better job, better conditions, and better pay. But trouble is, it's a 2 year fixed term contract, with the 'option' to renew at the end. Now I'm getting on very well, boss seems pleased enough with what I do, and I'm pretty sure they have work well into the future (parent company has just invested millions in the place, new machines, extensions etc...) But how will a lender look at that situation? Considering that I'm only guaranteed work for another 19 months? Anyone been in that position? Or know how the bank would view it?
  20. Isn't it amazing that the media in NI tend to gloss over this? Why do they insist on using the UK average figures, therby giving the impression that house prices are on the rise again, when in fact NI seems to be still in freefall??
  21. Yeh, but this year they are really taking the p**s.. Last year I paid £290 to insure my Ford Cougar (2.5 V6) OK, it's not exactly a 'sports car', but its a high group...this year, cheapest I could get was £560!!!! And I now have 9 years NCB...never made a claim...WTF!!
  22. The printing press didn't rob you of of it, it's just making you wait a bit longer...
  23. Looking at that data, i'd say NI's suckers rally ended a long time ago and was the shortest lived in the UK. (Only 1 qtr of +ve data) Given that the public sector job cuts have been largly postponed until after the GE, and we all know now hard NI will be hit, then i'd say it's a safe bet that NI will not see anything resembling HPI for a long, long time.
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