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Everything posted by laughing_goat

  1. I found the following comment on the newsnight site... Someone needs to tell this bloke that using big words doesn't make him a big man. Also, I wonder if he was this upset when all the news agencies were reporting massive price rises. http://www.bbc.co.uk/blogs/newsnight/2008/...march_2008.html
  2. Hi, Can someone tell me what happened? I was driving so I missed it. (I'm guessing we were told there was unlikely to be a crash) LG
  3. I think this could well be the case, did you notice Phil was uncharacteristically reluctant to talk up the market when prompted by Kirsty? Also, they seemed to be suggesting that the only way to make money out of their home (or investment as they seem to think of it) was to buy something they could 'do up'. I can't imagine how there could possibly be any houses left to 'do up' with the way things have been going in the last 10 years and I would imagine that if one did appear on the market would be so overpriced they wouldn't generate much of a profit anyway.
  4. I know, I found this amusing too.
  5. Frankly, I'm apalled at Kirsty's attitude towards the two couples. Telling the young guy he needs a reality check left me stunned. How can a woman who has never lived in reality, lecture someone who has rejected a place because of the (visibly) dire parking and rough area? Mr Goat commented on whether Kirsty would be willing to move to Palmers green (hmm). Also, she verbally attacked the other lady when she was dissapointed in the rather insanely over priced house (wonky fencing and all). However, my biggest gripe came when she told the young guy that in 2 years the HP's had risen by 10% but his deposit hadn't risen at all. What! Did he have it stuffed in his duvet? I don't watch this so much these days as I'm starting to find it to be on the same level of entertainment as 'Wife Swap'. But in the last year I have watched about 3 shows and she seems to be taking an (almost vicious) dislike to her punters.
  6. 10K, dear god! Is there anyone here good at putting together reports? Maybe it is worth sending to the real story production team.
  7. Looking at nethouse prices the ceiling price is just under £100,000. Bearing in mind, alot of the houses for sale in that area (on rightmove) are 3 bedrooms. I just hope the two youngsters who bought in this area can afford the mortgage and don't plan to have kids anytime soon.
  8. Does anyone remember this, this, this? Yes, it’s been over two years since Barbara Goldsmith was allowed free advertising space on the BBC at the expense of the licence payer. Anyway, I seem to remember the delightful Ms Goldsmith telling the very young couple from Yorkshire that a 2 bed terrace house (costing £92,500) they were looking at would "more than double in value over a short period of time." It was, of course, very clever Ms Goldsmith to avoid putting a specific timescale on her prediction. However, lets for arguments sake say 2 years could, possibly, at a rough guess constitute a “very short period of time”. So, maybe it’s time to see if 2 bed terraces in that area have ‘more than doubled in value’. The house they bought was a 2 bed terrace in Eccleshill, near Bradford. Here’s what I’ve found... Example 1 Example 2 Hmmm... I'm very tempted to send this to the Beeb, but the rather ambiguous 'very short period of time' will almost certainly be the get out clause they use. What do you lot think? LG
  9. Absolutely, I couldn't agree more. My sentiment was more personal though. Both colleges I mentioned are married with kids. However, their carelessness will almost certainly loose them the money they put into their BTLs but I don't think they will loose their family homes. If I'm honest with myself, I wouldn't be upset to see them learn about investments the hard way. There are a couple of people at work who's debt levels are so high that they would, without a doubt, loose their shirts if economic conditions were not so much in their favour. I think this is the issue, there are may people, as old as 35yrs, with the potential for huge borrowings and buying power, who have never gone through a ressesion as an adult, have always known low IR's and easy borrowing. Most of them have little if any idea about finance and often rely on the parents (yes even at 35yrs) to help them pay debts. LG
  10. Yes, I know many people who have bought in St Albans over the years. However, very few at the moment. I topics tend to be around buying BTLs in the North of England. About 1/3 of my colleges have dangerous levels of debt, some are throwing money after a 3 legged horse in the BTL market. One college bought a house in Manchester (went straight in with an offer of the asking price even though the place had been on the market for months) and has since rented it at a loss, he has to subsidise the rent by about £200 per month to pay the mortgage. He is convinced that this will all work out when he comes to sell. Occasionally, I ask him things like, "are you keeping a record of your investment?". He always answers yes but in truth he doesn't think about interest payments, maintainance, cost of travel to collect the rent (london to Manchester once a month), and so on. I've given up now, he'll just have to learn the hard way. I have another college who had managed to work out he could make £2,000,000 by renting out his old flat. Hmm, I thought, £2,000,000, even I might get a BTL if that's the dosh you can make renting out a 2 bed ex-council flat. But sure as eggs is eggs (and I could definately smell something rotten in his calculations), he forgot to consider that he would need to pay a mortgage. I asked him to work out what the interest on that mortage would be over the 25yr term but as yet I haven't had a reply. The thing is that these people can afford to be stupid with their money at the moment (hence why HP's have continued to rise rather than fall). The only things that will make then struggle (or possible just think!) is either an IR rise or the loss of a job. I think the later is unlikely but the former is already in full swing. The guy with the BTL in Manchester has seen the amount he subsidises the rent rise from £50 to around £200 per months due in part to rate rises. I don't want to see these guys loose the shirts off their backs but I certainly am not going to be too sympathetic if they do. This is the problem when the lazy want to invest, none of the people I know have done any research into the housing market or any other forms of investment. On a slightly different note, my brother (who lives in North Wales) has just STRed. He and his Girlfriend wanted to move in together but his place was too small and they couldn't afford anything bigger so they have sold his place and are renting a two bed house for about half what it costs to buy (one of my colleges is probably subsidising the rent - teehee!). He probably won't join this forum (it's not his thing to be honest). But hey, he used to be stupid with money, now he's looking quite sensible. LG
  11. I found this in my local paper and noticed a link to another website dedicated to questioning the sanity of current house price levels. appologies if anyone has seen this before. Links are below; http://www.stalbansobserver.co.uk/search/d...oung_to_buy.php http://www.housepricecontrol.org.uk/
  12. Hi all, I have to admit, up until last week, I haven't been on this forum for a few months. Nor have I paid any real attention to HPI in the UK or globally. Obviously, I have seen news item regarding sub-prime lending in the US and a few stories in the Beeb about UK HPI, but nothing too indepth. I've been thinking (occasionally, I do) about Austrailia (I don't want to move their, not yet anyway), how has HPI been there? A few years ago it was looking unsteady. What has been happening in Spain and the rest of the european countries that the Great British public love to invest in? LG P.S. sorry for being so lazy.
  13. Dipstick, I've read your post back again and I'm afraid it still seems to me that you are taking this very personally. The impression I get is that you have been in this situation yourself (I believe you confirm this in your last post). As I said, this thread is very light hearted (maybe a little cruel, yes). We all agree that a trigger is needed and simply having your house on the market for yo long doesn't constitue a crash. As I said previously, no matter what your situation, if you think after more than 6 months of no offers that you don't need to re-address the price you are marketing your house at you are delusional if you think it's going to sell. When I sold my flat it was Dec 2003, since then (as little as 6months later) no fewer than 8 flats in the same block, all identical (including the one I sold) have been advertised all with at least a 20% price mark up on what I sold mine for. Mine is still the last one to have been sold. All of those people probably wanted to move up the ladder, all have probably struggled due to rising house prices. But that's not the point, the point is that they cannot sell for the prices they have advertised at or even being able to attract offers as they are at too higher price. You say that, "if Mr Bloggs the EA comes along and tells them their home is valued at x and they need to achieve that to buy y, then that is what they will do.". Well I'm afraid they will have to rethink (just like I had to), passing the problem onto someone else does not always work, many FTB's are getting clued up, most are only concerned with whether they are paying the right price themselves and that they can afford the place (and quite rightly so). Look, I don't want to fall out with you and I didn't make the comment about you taking this personally as an attack, if you have taken it that way, then I apologise. LG
  14. I thought FP came across brilliantly. I'm confused by the housing shortage arguement. If IR's went above say, 6% or 7%, people were defaulting on their mortgage and needing to sell quickly, I would say that whether their was a housing shortage or not, prices would have to come down (by how much may depend on the housing stock). Besides, the only housing shortage we have in this country is a shortage of reasonably priced homes for sale. There are plenty of cheap places to rent, and where I live an awful lot of places that have been on the market long term (more than a year) and a lot of empty houses (I would imagine for various reasons but some have been empty for years). For me this is purely down to a boyant economy and cheap debt , as soon as these change, I would imagine so will house prices. LG
  15. I STRed a couple of years ago because I couldn't afford to move up the ladder. I am constantly ridiculed by colleges who think I have lost money (a closer look at the situations reveals I haven't of course). I know plenty of people who can't afford the 'next' house so their kids can have a room of their own. However, the solution is not putting your house on the market for an over inflated price. I'm afraid whether you simply want to make a profit or you are trying to move up the ladder, having your house on the market at an overinflated price for more than 6 months without an offer is delusional. I think you need to not take this so personally. You need to re-read this thead and realise what it is....a bit of a laugh!
  16. It may also be the reason that all of the properties I posted have been on the market for more than a year.
  17. What's the proper name for a group of VI's? Is it a gaggle, a herd, a flock. Hmmm
  18. If you want to enjoy the parade of delusion in my area, here's a snippet below (the last one is my personal fav - look in the top right hand corner to see how the EA has described the place); http://www.rightmove.co.uk/viewdetails-149...=4&tr_t=buy http://www.rightmove.co.uk/viewdetails-150...=5&tr_t=buy http://www.rightmove.co.uk/viewdetails-150...=6&tr_t=buy http://www.rightmove.co.uk/viewdetails-145...=6&tr_t=buy http://www.rightmove.co.uk/viewdetails-147...=6&tr_t=buy http://www.rightmove.co.uk/viewdetails-689...=7&tr_t=buy
  19. I'm disappointed but not supprised by her postmortem of the situation. She shows little personal responsibility. It was apparent all through her columns she felt justified in her situation and either ignored or rejected any construnctive critism. But I find this final write up far worse. There are some people who will always go for the personal insults or misgudge your situation, as you would expect when putting yourself in the public demain, but I followed this on several forums and saw alot of good, constructive critism. She made no mention of this in her final write up, only allegations of personal insults and racism.She seems to indicate a need to break away from her traditional community, I find the statement below rather weak. I am woman from a small community which also expects women to stay at home and bake cakes. I too rejected this but I didn't run down that bank, borrow a load of money and put on the 3 legged donkey at Ascot. Can no one use a bit of free thing or take some personal responsibility these days?!?! She also seemed to think that taking out this amount of debt was a risk worth taking, yet she doesn't address how calculated this risk was. Taking a loan out to throw into a virtual black hole is no lesser financial mistake than spending it on "shoes or holidays". However, I am glad to here she is sorting herself out and getting back on her feet. My only concern is that with this lack of hindsight she could easily find herself back there again when the next 'money making scheme' hits London. LG
  20. seems it's gone STR! Blimey, someone has more money than sense.
  21. I disagree that it is educating the public about savings, rather it is taking the responsibility out of their hands and doing it for them, to me that is not education, that is nannying. Also, I think that after 12 months a 'not so large' nest egg will be apparent, which is more likely to discourage a saving culture.
  22. I think it’s fair to say that there are good and bad LL’s and tenants and some of the things she has mentioned are things that bad tenants have been guilty of. However, there are a few things that are tickling me... 1) In previous articles she has stated that she is in so much debt that she has defaulted on more than one mortgage and had her bank account frozen, yet she fails to mention this when referring to tenants not paying the last months rent. 2) I also recall from an earlier article that she found the demands of some of her tenants (a group of girls) very high maintenance. I believe they were requesting various appliances and services that were part of their contract be fixed. If she was finding this tiresome then I would suggest she take a look at her performance as a LL. 3) “It all makes great material for dinner-party chat, but in reality is not ideal for a harmonious life.” I am unsure if this lady has ever really lived in the real world. Her "ladies what lunch", "bored, rich housewife with a little BTL hobby" attitude makes me feel sick.
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