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House Price Crash Forum


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About Armageddon

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    HPC Newbie
  1. The government are no doubt well aware that if they change the rental laws in the UK then houses prices would collapse. I've been living in Switzerland where there are rent controls and security of tenure in private rented accommodation and nobody ever needs to buy a house as they can stay in the one they're in until they die, and the longer they remain in a property the cheaper it gets. Most blocks of flats are owned by pension funds, not individuals. A good tenant in the UK can be evicted with 1 months notice should the landlord decide to sell. This has happened to two of my family members in the last year and it is just dreadful. Security of tenure only exists with Council or Housing Association tenancy agreements - and if you are a hard working, sensible individual or couple you will never in your lifetime be allocated one of their properties. As already mentioned by someone else, this not allowing pets in private rented accommodation is outrageous too. And these quarterly inspections? what's that all about? A deposit is surely paid for a reason. In four years living in private rented in Switzerland we have never been "inspected" but I'm sure when we leave some of our deposit will be kept if we haven't looked after things properly. We tell Swiss people that in Britain you are not allowed to smoke or have pets in your own home - despite paying hugh rents and council tax - and they can hardly believe it. On the other hand, if a landlord gets a bad tenant and he/she wrecks the place or stops paying rent then it takes up to a year of legal wrangling to kick them out. The current laws are barbaric for good tenants and far too favourable for bad tenants in my opinion.
  2. In my book it is a moral crime to try to sell on a house that the seller, the estate agent and the surveyor all know it over-priced. If it hadn’t been for my obsession reading HPC (thanks everyone) and studying other websites like nethouseprice.com and home.co.uk I would have already made the most costly mistake of my life. Remember surveyor’s learned a great deal at university – words like “might be” “could be” “seems like” etc in their survey reports. Don’t trust their valuations on the Home Report because in the next 5 years they “might be” a lot lower when you try to sell it.
  3. Years ago I said to my husband (who is an economist) that everyone says that we will never suffer in Scotland from negative equity the way people did in the 90's in London. He replied, "that is exactly why it CAN happen - when people have blind faith that house prices can only go up." He kept going on about the affordability ratio as his wage rose each year by 1-3%, against house price rises of 10% or more. Of course job cuts will affect house prices next year. They going DOWN and we've just found a nice place to rent to wait and sit it out until 2012.
  4. It is a joke but not a funny one. I believe that when Home Reports were first introduced that surveyors were trying their best to make considered valuations (rightly or wrongly). Yet now, two years on, I can see that the home report valuations are, in 95% of the cases, working like grade inflation in universities. What happened was departments (like Economics) were losing students to Business Studies because they awarded more 2:1’s. The Economics department had no choice but to raise their grades in order to keep their students. Unless a firm of surveyor’s raises their valuations, in line with the firm giving the highest valuations, they will go out of business.
  5. The introduction of Home Reports has caused untold stress in my life. The surveyor's valuation has worked against me in both buying and selling a house. I have yet to buy and can’t get over some of the outrageous valuations (mostly high) that surveyors are stamping on the home report. However, when I look up the address in nethouseprice.com I get the fright of my life when I see how little the owners paid for it not that long before the crash eg. £185,000 paid for an ordinary 70’s house in 2004 and is now valued at £310,000 in the home report. Yet in the posh suburb of Pollokshields where the tenement flats are stunning I can determine that they are selling at roughly 2004 prices. I am so confused, angry and utterly frustrated and I blame everything on the surveyor’s home report valuation which I now know to distrust completely.
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