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The Masked Tulip

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Everything posted by The Masked Tulip

  1. James - see my post 'Wales' in the forum on local house prices re that article you mention. I laughed myself silly when I read it as it just does not make sense. Demi Moore is currently filming in Wales and said she plans to take some time off on the Gower - I am waiting for the first 'Demi buys house in Swansea causing prices to rise' article and some local shark claiming to be looking for a house for her.
  2. I think alot of these 'luxury penthouses' are such in name only. I have viewed several and I was not impressed by any. As a recent IMF report on houses globally stated: '...the UK continues to build rabbit-hutch style housing.'
  3. I totally agree Sledgehead. It is far too early to jump back in and I do believe the crash is going to be enormous but I think that when it goes it will be like a dam bursting. Anything that we can do to help create a few cracks in that wall will only hasten the bust and making offers of 30% below asking is but just the start. I think it is possible that many people who have held of buying these past few years will jump in in the next year actually causing a stablisation, and even a slight increase, in prices only to be themselves bitten by the crash. I am someone who, when people ridicule housing bears, points to Japan and the 90-something percent crash seen there. Only a fool would say it will never happen here.
  4. Same thing here in my part of Swansea - the Uni has just built loads of extra student accomodation. Snap. Here in Swansea there is a massive development going on in part of the old docks to build luxury marina style flats plus the Council gave planning permission for 6,000 new homes last week. The local MP pointed out that there isn't enough room for all the cars that the owners of these homes will have BUT... ...there have been no major job announcements in Swansea or anywhere near Swansea. The population is actually falling in the City as young people move away to find work and as there are worries over the likes of NTL and TSB moving their call centres to India. When you look at the prices around here though you would think the working population of Swansea were earning London wages when, in truth, the salaries are WELL BELOW the UK average.
  5. Yes, that is what I intend to do. I actually think we are in a deflationary cycle and not an inflationary one. I think interest rates are going to rise over the next 12 months, maybe longer, but then we will be seen to be in the same mess as Japan - a huge deflationary spiral.
  6. I noticed the article from a link on the homepage about house price rises in Wales... especially in Cardiff. Cardiff was enjoying a housing bubble well before the UK and global housing bubble started - as a result of the Assembly and vast sums of Public money pumped into it to create and attract jobs. What I find dubious about the article's claims is that house prices in Cardiff, as expensive as they are, have been cheaper than those of much of Swansea... this is simply because Cardiff has so much land around it available for house building whereas Swansea is a thin strip of land on the Gower Coast. In fact, for example, new house builds in Swansea - up until about 2 months ago - were snapped up long before the builders started work on the sites but, in Cardiff, there is no shortage of newly built houses, completed, that you can visit and put and offer on just in the same way you buy a car.... as it should be... view it first, decide if you like it, barter and then put in a price instead of almost begging to be allowed to buy. I compare Swansea and Cardiff as in Swansea, in the past 6 - 8 weeks, far more houses have come on the market (A year ago we were told there were not enough houses for sale for all the perspective buyers.), far more houses have more than one estate agent's sign in the front garden and far more houses are advertised in the property press as 'reduced' or 'new price'. One of the local estate agents have publicly stated prices are falling whilst others are saying that they are rising - the truth is obvious for all too see. So why and, more importantly, HOW do we get a report out saying that prices are continuing to rise in Cardiff???? No new major job annoucements have been made in either Cardiff or Swansea - quite the opposite, major call centres are rellocating to India and jobs are being lost. Something, to me personally, smells about claims that house prices are still rising in this part of the World.
  7. I am about to begin house hunting again... not because I think houses are reasonably priced but because I think they will be sometime in the next 18 months or so. So, I am going to begin to look for the sort of house I want in an area I want to live... (I am amazed how people have bought houses in a mad panic in the past 3 years giving less thought to their biggest purchase than they do to a tin of baked beans.) Anyhow, I intend to put in offers at the present time of 20% to 30% below the asking price and argue that a 20% cut now is better than a 40% cut next year. I intend to post my offers to the home of each house I visit just in case the agents decide not to pass on my offer - something which I think is good practice whenever dealing with vested third parties such as estate agents. I also think that such offers will clarify minds and make people put their homes on the market for sensible prices.
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