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House Price Crash Forum


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Everything posted by devslim

  1. It is vastly overpriced. I bought a victorian 2 bed flat with parking just up the road from here for £150k in Dec 2009. Admittedly it needed work inside and out, but no way is there a 90k price difference. This is worth 200k max. Ocean are well known for overpricing.
  2. http://www.timesonline.co.uk/tol/money/pro...icle6237045.ece Unbelievable, sickening spin.
  3. If this were true why hasn't an IQ test been designed for those of an ethnic persuasion? And why do the Chinese score higher than WASPs on a test designed for WASPs?
  4. Can we stick the BBC and the IMF in there? http://news.bbc.co.uk/1/hi/business/7665515.stm
  5. Can someone explain to me in laymans terms what PFI is and why it's a con?
  6. This flat originally came onto the market at 110k August 2007.
  7. I've been tracking central Bristol for a few years. There is an total price meltdown underway at the moment. All the "cheaper" areas like Bedminster, Redfield, St George, Totterdown have seen 20-30% drops in asking price since Xmas and the houses are still not selling.
  8. Bradley Stoke, epicentre of the last crash!
  9. ...in the local free rag, which is basically EA junk mail with a few pointless local interest stories thrown in for good measure. One EA had a two page spread mainly featuring houses that they have "sold subject to contract". Alongside the initial asking price was the "agreed sale price", all of which were 15-20% lower than what they had been marketed at. I guess this has a two fold effect. It hi lights to potential sellers that they are not going to get a sale at the asking prices of last year and that they should market their property at a realistic price, and it encourages more sales as potential buyers realise they will get huge discounts if they put in low offers. Looks like the EA's are finally on the side of the buyer. I guess they don't want to lose all that lovely commission.
  10. Didn't they used to be called caravans?
  11. Fear not, house prices are still "soaring" in Bristol according to the local rag. Bristol Evening Post
  12. http://www.telegraph.co.uk/opinion/main.jh...1/16/do1602.xml
  13. I capitulated and had an offer accepted on a place in September a few days before the Northern Rock crisis began. It took 3 months to get to exchange. I pulled out the day before, but not before I'd gazundered them by 5k. Even then it didn't seem worth it. Similar houses in the same area are now on for 10k less than they were at the peak. I'm sure there must be many more cases like mine.
  14. Update. He seems less pessimistic now. Things have got busier, but he's not sure whether it is because of the interest rate cut or because people are trying to get their finances sorted out before the end of the year. He is seeing a foreign buyer tomorrow who needs financing for five BTL flats being bought off plan. Obviously some people still believe HPI will continue into next year. Apparently the bank he works for will be offering a new range of fixed rate deals in January, without any arrangement fees.
  15. So now ever tax payer in this country has a vested interest in the housing market. Perhaps he's not quite as stupid as he looks.
  16. 100% correct. The place is little more than a holiday camp.
  17. A friend of mine is a mortgage advisor for a very well known bank. He has worked there for around ten years and he has consistently ramped up the market, sometimes to ridiculous levels quite beyond my comprehension. Only 6 months ago he was banging on about how the average house would be worth 500k within ten years (How do these people get jobs in the financial industry?). I met up with him for a drink a few weeks ago and he has executed a swift 180. Apparently business has dried up so much so that his diary is now only filled 2 days in advance, whereas before it was full for at least 2 weeks. He is now only having to work for 3 days a week. His targets have been decreased in 2008 this is the first time this has ever happened to him, they have always gone up before now. He is now predicting a 10% fall in prices next year. Co-incidentally he is also a BTLer and he has borrowed up to his eyeballs to be able to afford his large detached house in a nice quiet village. His wife has also given up her job to become a full time mother as she doesn't need to work due to the amount of money he has been bringing in. I think they may be in for a rude awakening next year.
  18. http://biz.yahoo.com/ap/071213/economy.html The most ******ed up thing is they have the balls to claim the corresponding rise in sales as a good thing....NO ******ING SHIT! When prices are up substantially gross sales figures are going to rise! I bet Zimbabwe has increased sales too. If the UK follows America's lead as looks likely to, you can kiss goodbye to your savings.
  19. There's a lot of lipstick on that pig. Have you read the criteria you need to meet before you qualify for aid?
  20. The banking model used by northern rock etc is now obsolete. Funding has dried up. There is nothing left to prop up these ridiculous prices. A few rate quotes won't change a thing.
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