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John Smith

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About John Smith

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  1. In the mainstream news a place called Broadhembury was mentioned ... can't quite remeber in what context so, in a random stimulation way, I checked out the HP's in this place on NetHousePrice. In the 'No street available' ones, the 2 most recent sold in 2006 and were last sold about 2 years ago indicating that HP's do not always go up big time! I know it's not indicative of HPC ahead, but a google on the place name may link the relevance to the title.
  2. Some might say that another argument for the clear distinction could go something like ... ... 'Savvy BTLers' are doing the public a favour as they are allowing people priced out of the market to have a roof over their heads by virtue of renting. ... Nasty 2nd home owners do not as the house is all their's for their holidays.
  3. If the NHS is losing jobs, and I guess this also gives an air of job insecurity to those left, then what effect will this have on Key Worker housing schemes? I always viewed these as a way to help low paid key workers afford a home, but also viewed them as keeping the housing market going as it allowed people to buy that may not be able to afford - hence adds to ongoing sales. If these suffer as a result of the NHS job situation, then will this have an effect on HPI?
  4. Wow - so being on an island justifies high prices? Surely every country is an island! So therefore this cannot be used as an argument because it is a fact and applies to EVERY country. Am I missing something? If they mentioned the ratio of people and land availablity then it may be more of an argument - but what about other components such as wages, needs, values, abililty to buy, jobs, future prosperity, etc .... - there is so much more to consider that does not seem to be thought about - people just talk in money. ... Now if I had 20 jobs and spent none of my money on luxuries then I could have a house like those hardworking people who bought pre-boom and are allowed the luxury of 1 job and plenty of toys. I really admire them for making such excellent investment decisions and foreseeing the potential boom in prices ...
  5. Saw this in the Cambridge area on the way to work. An estate agency sign for a new estate agent has appeared on a house over the weekend. A for sale sign was never there. Anyway, this sign has a red band on the bottom of it that is normally seen on signs once they have sold. I drive through the village everyday, and check rightmove regularly as there are some new builds I check out ... thought they would be overpriced so wanted to check out. They have not sold, so I check out on a regular basis to see if they have gone down. As a result I have never seen this house for sale. My first thought (due to the red band) was wow, who bought that so quickly ... but on the way home, further inspection of the sign reveals that there ... . is NO reference to for sale or sold on the sign whatsoever . all the red band says is 'Similar properties required' . Reminds me of similar ones I saw last year where the for sale/sold reference was covered up with a notice advertising school fetes - there must of been 10 of them in a group. Either way, a quick look gives the impression of sold houses and an estate agency doing very well! Thought I would share it with you - has similar been seen by others? If others are not as keen to read the signs, then they may get the impression that market is very bouyant like my first impression.
  6. These flats are going up so fast. My mate commented that they are probably putting them up quick so they could sell them as the market is turning. Maybe something in this? Has anybody got any prices/spec for them?
  7. I have heard of something similar. I can see benefits to being able to buy, but is it right? i.e. you cannot afford to buy a house to live in based on your salary, but you can do it if you BTL as your ability to borrow is not controlled by other criteria and by other peoples salary due to their ability to pay the amount of rent asked ... This has provoked this thought ... As a market price is influenced by the price that the customers in the market feel it is worth/able to pay, then could this therefore mean that Housing Market runs the risk of no longer being influenced by Market theory ... i.e. a FTB could only buy if they went down the BTL route - implying that the lending is being biased towards BTL modes ... and as a result the Market price is no longer arrived at by all customers in the Market because lending institutions are controlling the lending down the BTL route. Therefore if the Housing Market is no longer a market, what does this do to all the Market theory (Supply and Demand, etc) ... I am not an expert in these things, so do I even make sense? Any thoughts?
  8. Could the Peugot site redundancies have an effect on HPI in Coventry? Could this be the tip of the ice-berg, and therfore is the risk that HPI will rise still worth taking?
  9. If inheritance begins to drive the market, then what does the future hold if people plan to use their houses as their pensions? I cannot point to any specific news articles, but I seem to remember some news stories not so long ago reporting that due to lack of faith in pensions people are banking on their house for money in the old age - therefore no money to pass down ...
  10. Just read a thread along the lines of saying the crash has not and will not happen as "we predict" ... therefore IT WILL NOT HAPPEN and we are all wrong. So, have previous crashes been predicted? or did they just happen ... sort of silently humming along then BANG! If they were predicted/or mentioned/discussed in the press, then did people believe/act upon them? I am too young to remember previous crashes and the events leading up to them ... Is there too much optimism at the moment along the lines of things will never change/just get better - surely they can't? There appears to be many (seemingly) unconnected events happening which are gradually coming together and making the situation more and more fragile - and something will happen to tip the balance - the inability to predict these synergistic events could catch people out by surprise - more so in a system which seems to have very little slack i.e. too much debt to enable a buffer to manage tough times. Any views - or am I just wrong ... it would be great if some soft people based theories could be used rather than the same old hard indicators such as record low IR's/low unemployment/affordability/etc ... what about the emergence f!"£$%d off youngsters going on the rampage like in France? What about no inheritances in years to come 'cos its all been spent on pensions? Change in government and subsequent people views?
  11. 3 identical houses for sale in a street next to mine. 1 in middle for £250k, 2 either side for £280k. Thought the £280k ones were over priced - the £280k price has remained the same for a year. Guess which ones have been up for sale for a year, guess which one sold within 2 months? The one that has sold (£250k) was bought for ... wait for it ... £250k 18months ago. If the buyers have offered less, then in my books this means the HPI of this house has gone negative. hmmmmm ... me thinks the houses either side will now come down ...
  12. Spoke to a carpenter yesterday ... Last July when he fitted the door was saying that there is a lot of work he has to turn it away. Yesterday was saying that work is declinging ... can anything be read into this?
  13. Welcome ... 1) If moving in with parents becomes a growing trend, then where will the future renters come from that are required to feed the BTL properties - apparenlty there is a shortage of homes - hence BTL - but surely there is not a shortage if nobody wants them as they move back home? 2) This could become an accepted practice ... years ago you left home, now you stay with parents. 3) hpc.co.uk seems to be getting more new members, and is getting mentioned in the press and other sites, so the views of the site become more known ... hence more members become aware and join ... maybe then there is a credible force to counter the bullish VI/media arguments. Then what would happen?
  14. One line a mortgage is mentioned, the next it is mentioned that putting money in the bank will give a better return ... but if they take out a mortgage for the property, then I guess they have not got half amillion quid to put in a bank account to get interest on? So why woul dputting hte money in the bank be a better return? ... Or would a bank lend me half a million to put in a high interest account?
  15. Bedfordshire ... Two 4 bed detached House at the end of my road - both for sale since June 2005 at £280k. One of them was bought in June 2004 for £250k ... so apparent increase of 30k (approx 10%) in a year. I felt the increas was unjustified due to no work being done on the house and HP inflation was going down. Anyway, a house in the middle (appears exactly the same) has come on the market at £252k. So there are now 3 houses for sale in a row ... So, I think the latest one on will sell for <£250k to avoid the stamp duty increase ... therefore I would guess that the person that bought in June 2004 will make a loss as I guess <£250k is now the going price for this type of house. Seen similar in my road (4 bed detaches) ... June 2003 neighbour bought for £204k, then between then and now a number of similar houses have gone on sale for £260k, and have drifted down to £230k - AND HAVE NOT sold over the 2 year period. However houses now coming onto the market are being priced at £215k. But one is now on for £210k, which has driven the £215k one down to £209k. I know I have rambled on, but I reckon new prices are now down at 2004 levels ... and as they have gone up and came down over 2 years, then whats stopping them going down more - I doubt they will just stop at 2004 prices. Also, seems like people want to sell and are pricing down to get the sale.
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