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House Price Crash Forum


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Everything posted by janch

  1. dariuszen.....reckon £40K is probably about right for the average Victorian house unless major building work is needed.. The advantage of buying one you've already lived in is that you know what the problems are and are unlikely to discover any horrors. In my experience there are usually unforseen problems eg drains/damp/rotting joists etc even if you have a survey done. Personally I've had my fill of Victorian properties and you can keep their "features" Kirsty!
  2. Agreed. There is no shortage. Just vast mis-use eg loads empty especially city centre flats bought by overseas "investors"; grannies in mansions or good family size houses bought decades ago they're rattling around in while families are squashed into tiny flats etc all because prices are too high.
  3. Sounds like you could pick up a bargain there. Worth trying a cheeky offer perhaps? Might work if the amount you offer can repay his mortgage on the property.
  4. There is one already except you have to wait until pension age to get it!
  5. Always worth taking a look at the outside and surrounding area before an internal viewing I think as there are a lot of things to consider as well as the interior. You can glean a lot from the outside as well as about the neighbourhood etc.
  6. Having lived in different housing in UK from Victorian to brand new I know which I prefer for comfort. Victorian houses are cold and draughty unless you spend a fortune on heating. Plus they are money pits for mainteneance and have hidden problems eg rotting joists and damp yet are praised for their "features" by the likes of Kirsty and Phil. OK they may have a bit more soul than your average new build but they can quickly turn into a bit of a nightmare. Modern new builds are generally warmer to live in as they have double glazing and are better insulated plus you get some benefit from "passive solar" heating ie the sun shines in via patio doors etc whereas the design of Victorian buildings being genereally long and thin in terraces means they are generally darker as well as colder. I don't know if it was a bit of a conspiracy to make us all hanker after period property and to make us a bit gaga about "features" etc. Perhaps so as otherwise if everyone in UK wanted more modern we'd be done for as most of the avialable housing is Victorian. Another of the ways we are deluded about property??
  7. madmax....don't give up! At least you have your integrity unlike your neighbours and when the HPC happens they will mostly be up s*** creek without a paddle. I've been expecting a HPC since 2003 as I can remember saying to someone I worked with that my house had earned more than I had in the previous year. This was in Cardiff not London and I only earned a modest salary but it all just seemed ridiculous. Since then my children (mostly of about the same age as most on HPC I would say) have left home and 2 of the 3 have purchased properties but with a struggle and only with good salaries. I am one of those awful "boomers" but I agree most my age are selfish b******* and I would also add that many in my mother's generation are equally bad with their QEII cruises and the like whilst their children struggled (I was a lone parent bringing up the 3 kids). My mindset has always been the HPC one and I downsized in 2008 expecting a considerable crash which as we all know hasn't happened (yet). I've learnt a lot from this site and the debate is useful with some good info and anecdotes. I visit most days and my favourite thread at the moment is Damik's prime London crashing.......let's hope it's the start of something big.
  8. norseraider you have surely missed your true vocation.....
  9. Manufacturing has shot itself in the foot by being too efficient. There is too much "stuff" and now they're having trouble giving it away. The retail sector needs to be pared back by a long long way. Market forces?
  10. I've been keeping an eye on prices along the M4 ever since I moved from Cardiff in 2006. So I look at Cardiff, Bath, Chippenham and also Herts (nr Watford) where I have a family member living. The only one which has moved substantially in that time is the Herts area where in 2006 you could get a 3 bed 30s semi for approx £250K and last year for £450K now £550K. That's asking prices. I can only assume that people in London are cashing in and moving within commuting distance to a bigger property. So there is a bit of a ripple effect going on. It hasn't reached Chippenham yet although at the bottom end prices are a bit higher and in Bath too just recently in the past 4 months. Supply doesn't seem vastly different and sales are at the same sort of volumes as in previous years with good places going SSC quickly.
  11. I wouldn't like to be in their position if/when prices plummet. They will be stuck in a flat in negative equity with a massive mortgage and a young child with no prospect of getting out intact. If/when they sell they will not be able to afford anything in inner London after paying back the govt 20% and will still have mortgage debt even without the property. This is what will happen if/when prices go down which is more than likely sooner or later as London is in a massive bubble.
  12. Yes.....get foreigners to pay for building British infrastructure then crash the market so they all want to get out and then there will be plenty of decent (and affordable?)housing for all of us.......perhaps this was the plan all along.
  13. Brilliant idea....she should find a way to make it pay (eg get the LA to give her a grant or service level contract) and then franchise it. I bet services like this provided by a private sector provider could save the LAs (and us council tax payers) a bomb.
  14. One way to get more housing available to the populace (which would be much quicker than building more housing) would be to slap council tax on empty properties (all those new-build flats sold to overseas buyers) and also get some new council tax bands for the more expensive properties. This could be done quickly and cheaply (relatively) and would stop all the endless hand-wringing in parliament where no-one actually does anything. Boris could instigate this London-wide if he wanted to. Prices to buy and to rent are high at the moment but increase the supply and sure as eggs are eggs prices would fall considerably.
  15. How come they're only setting this up now near the election? They've had 4 years so far in government. If this much is owed they should have set it up as one of the first things they did on coming into power.
  16. The more they have the more they have to lose in the coming crash whereas those of us with very little and sitting on the sidelines won't be so upset when the values of all asset classes sink like stones. We'll see how smug they are then! It's a question of when not if.
  17. Be prepared even if he court rules in your favour you might still not get back the money unless you resort to bailiffs etc....happened to my son in the small claims court. He and his flatmates won their deposit back from the agent (before the days of deposit protection schemes) but they didn't get their money back and were so p***** off with the whole process they didn't take it any further. Good luck!
  18. Yes Winkie....confusion reigns so it's back to basics for me....live simply....keep your head down and do what's right for your own family....trust only those who have earned it.....do your own thinking .....if it's too complicated tounderstand it's probably bulls*** and keep well away from. Politicians are the worst of the lot along with bankers......don't believe all the contradictory messages the government come up with and teach children the same to counteract the brainwashing they get from school. Most of all determine what your needs are rather then your wants then refuse to spend on unnecessary junk/cosmetic surgery/expensive bling etc.
  19. Before tax credits came in there was Family Credit (previously Family Income Supplement FIS) which was paid by DWP (not HMRC) and to claim you had to work a minimum of 16hrs per week. You had to re-apply every 6 mths. There was an allowance for each child up to the end of FT school/college up to 18 yrs max. So the more children you had the better off you were. Thereafter there was a massive drop in income (as children reached 18) if you had come to rely on it and not got yourself into a half-decent job. If still in a s*** job the wages without the top-up were dire. It was really a subsidy for employers to pay their staff the minimum they could get away with.
  20. Personally I would not pay the last month's rent so then there's not so much dispute over return of deposit. My son rented a place a few years back and even though he took the case to the small claims court and was awarded a return of his deposit, he never got it back. Chasing for the payment would have involved more time and expense. The small claims court was next to useless in this instance and involved a lot of time, effort, hassle and stress for no result. This was before deposit protection came into effect but I doubt things would be much different now. The amount involved was over £1K between 4 people so a large amount. The letting agents completely washed their hands over it (maybe they were in on it too?) and even though my son and one of his flatmates "camped" in their offices they just fobbed them off until they gave up I agree with the previous post it might be worth getting Environmental Health round to see what they make of it.
  21. I would offer lower than the asking.....you may get lucky if they're not selling very well. I got a good discount when I bought in late 2008 when prices were dropping (but I also had to sell my previous place at a reduced price ). If they're not keen on dropping the price negotiate on "extras" eg floor coverings/fitted wardrobes/turfing the garden etc as they can get all these quite cheaply and will undoubtedly cost you more. When you come to sell you may find you get less than you paid (even if house prices generally haven't moved much) as you pay a "developer's premium" for a new-build. On the plus side there is usually no maintenace to speak of and the builder should attend to any "snagging" issues as part of the deal. All in all I'm glad I bought a new-build as I can't do DIY so it's peaceof mind. (I've also lived in period "money pits" which had all the "features" you could want but unless you are good at DIY are not all they're cracked up to be.)
  22. Also if you factor in debt levels, most people in "rich" countries are deeply in debt (mortgages/credit cards etc) so if you did a balance sheet for any one individual the person in the "poor" country is actually better off although they probably have a terrible standard of living.
  23. By pass the middle man (ie council/law of the land etc) and squat......said properties won't be so desirable as investments then will they?
  24. Well, whether he's a parrot or not I for one would welcome a bit of disinflation (lowering of prices) so bring it on.....especially for houses.
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