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Mick Sterbs

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About Mick Sterbs

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  1. How anybody can read the mail is beyond me. How anybody can can read the mail and think that what they are reading is journalism, is beyond me. How anybody can read the Mail and think that what they are reading is journalism, and believe what it says, is beyond me. All down the long years that I can recall coming into contact with the mail, discarded on toilet floors, wrapped around chips, stuffed somewhere to stop the draft blowing, or forming the lower layer of kitty's tray, it printed the same utter drivel. Those functions that I just mentioned for the DM are actually a cut above the general level of usefulness of this tissue. Its not a paper, its a propaganda machine.
  2. I like a person who can detect the humour in a doughnut, enjoy your espresso.
  3. Population is predicted to fall in the medium term, and, as in many western countries, the population is aging. In my view, gentrification of the east is unlikely. Under the communist regime prior to re-unification the possession of private property was discouraged, through political and other measures. Much of it fell into disrepair. Some was abandoned. Today, a lot of what was east germany's housing stock is in poor condition. Its the investment required to bring the property up to a lettable standard the precludes profitable investment. The demographic structure of the population is, in my opinion, not conducive to speculative investment in the east. If you really want to do it, stick to the west, and the cities.
  4. I do sympathize with you. Although I do not live in France, I find the same utter tosh being written about my adopted country as you do about yours. Personally, I think a lot of it is based on jealousy. (That should stir the pot somewhat!!)
  5. Steady lad!! Would you like me to E-mail you a Valium? Yields, if you mean rental yields, vary enormously of course. As does price. You could pick up an amazing property in the old Eastern states for next to nothing but get a terrible return because many are leaving the east and job prospects are poor. In the western Länder, prices are higher. Yields on flats tend to be better than houses, I have seen some at 10%+, but average is between 6 and 8 %, in my experience. Houses probably around 1%lower. But thats only my personal experience. In spite of re-unification, in terms of standard of living, Germany is still divided. Thats why you should beware of statistics that purport to represent the situation in Germany as a whole.
  6. One of the things that distorts comparisons between Germany and the UK, is that property in villages, of the type that would be viewed as very desirable in the UK, is not really wanted by germans. For the price of a city flat, you could buy a very nice country house with land, perhaps an old wine farm, for example. and in good order. I live in a relatively prosperous part of Germany, not far from Frankfurt, and you could buy a very nice 4 bedroom village house with a garden and a barn for around €150,000. Also the ratio of price to rent is different, because there is a culture of renting, and buying is rather the exception. German houses are certainly not mis priced when you consider what you get for your money, and what Germans earn (I wouldnt believe the stats you are fed in the UK, if I were you. )
  7. I dont need data to know that germany didnt have a bubble, I just needed to be here. I would need it though if I wanted to say anything about relative prices. That notwithstanding, I would be prepared to stick my neck out and say comparisons of averages concerning prices between two countries will probably not factor in differences in the quality of housing represented in the average. The average price of housing in Greenland might be double that of the uk (or not), but that says nothing about the relative benefits of living in an igloo or in a 3 bed semi in darkest suburbia.
  8. The site your post links to doesnt actually say that €255,000 is the average price. It says it is the price of a typical type of house. The typical type of house it quotes is not a first time buyers purchase. There are savings contracts in place in Germany which encourage people who wish to buy, to save a very substantial deposit. This ensures that in a stable housing market people enter into mortgage commitments having already lived under the conditions that a mortgage imposes (ie they save approximately the same amount each month that a mortgage would cost) There is no speculation based on HPI in this country, as prices are stable. This means that the desperation of "trying to get on the house price ladder" does not exist here. Also, there is no stigma attached to renting. No one will look down on you in Germany if you are renting. By way of example, my wifes father is an architect, who has always rented. Snobbery based on property ownership is virtually non existent. I my opinion, this is a much healthier way of looking at housing than the beggar thy neighbour attitude that prevails in the UK.
  9. That may be the case. My impression though, after a good few years here, is that mobility is not seen as a very desirable thing. at least in the area where I live, its common, especially in rural areas, for people to spend there whole life in one village, or, if they do move away, they often return.
  10. You might not know but a Berliner is a type of cake resembling a doughnut. Therefore, when you say Ich bin ein Berliner, your are actually saying, I am a doughnut.
  11. No tax on any capital gain on the house you occupy as your main residence after 3 years. After 7 years for others, including UK style BTL. Estate agent fees typically 5% paid by the buyer. Legal fees about 3.5% of sale price. Cost of buying a house, typically 10% of sale price. Minimum rental contract 2yrs. Old houses slowly falling for about last 10 years, new houses slowly rising, but big regional variations. It all add up to a very stable housing market. People very rarely move or sell a house, compared to the numbers who do so in England.
  12. Thanks for that, I think it answers my question. If data from organizations such as workers unions is included, then the effect of unpaid or unofficial hours on productivity figures has probably been properly considered. I do have an interest in methodology, but if greater minds than mine have been unable to spot a fault, I doubt very much if I could.
  13. At least the Excess is admitting that thousands are in negative equity. Four years from now they will probably report that house prices have indeed "soared" by 20%. Up from the 50% fall of the previous three years.
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