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House Price Crash Forum

azzuri

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About azzuri

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  1. EU credit law 'a threat to British consumers' see - http://www.telegraph.co.uk/news/main.jhtml...6/ixuknews.html Wouldn't the above in bold mean that house prices will always be 'high' because consumers can always go to another country to get cheaper credit? Especially given that the ECB rates are much lower than the UK's at the moment. The report above doesn't really focus on this at all, but won't this be a problem to those of us who are expecting a crash?
  2. I have acquired a large piece of greenbelt land in Rural Scotland and was wondering whether anyone thinks it would be a good/stupid idea to invest in starting an 'Organic Vegetables' business? Thoughts? I know the outlook for business at the moment isn't very bright, but this 'back to basics' business might work in the coming Global Economic Slowdown - people need food after all!
  3. thanks - what sort of % of my liquid assets do you suggest I invest in such a fund? ...and what about Gold/Silver/other precious metals?
  4. Just a quick question about Sovereigns.....in the event of the UK using the Euro instead of Sterling - would they lose their extra value as they would no longer be legal tender?
  5. Hopefully by next month I should have 250K liquid cash in my savings account. I have 150k liquid just now and with my house sale going through over next 6 weeks an extra 100K wil be heading my way. I'm a bit of a doom merchant and having spent almost all day reading posts on Gold/Silver etc., can someone give me some idea of where to invest it? Lots of people have been saying to put 10% of their assets into Gold/Silver etc., I just don't know where to start. Help!
  6. Now I'm no economist, but even I can tell there is something seriously ******ed up happening in Scotland - http://www.rightmove.co.uk/viewdetails-612...pa_n=1&tr_t=buy 1.5 Million for a 3 bed apartment in Edinburgh? Handsome boulevards you say? I'l take 2!! And I thought I was seriously splashing out spending 85K on a 2 bed flat!
  7. Oh dear. Click Here to see the findings of a chartered accountant who uses official goverment figures to which conclude that Scotland currently pays 25% more into the treasury than it receives. And this is without the Oil and Gas revenues being taken into account. I only wish other Scots had the bottle to go it alone. Is it any wonder an under-funded nation has so many health and social problems.
  8. has no one else seen the relevance of this? Nickell was the only guy who wanted an IR drop in March. Everyone else voted for rates to stay the same. Rates are only going to go in one direction now.
  9. I think Labour are starting to cotton on that they are not going to win an outright majority at the next elections. Therefore if there is going to be a crash they will want to delay it for as long as possible until the next party of government (or coalition) comes in. I think it's futile however and despite all the reactive policies Brown et al come out with over the next 12 months it won't be enough and will only delay the inevitable.
  10. ........anyone out there who can give me advice about my parents situation?
  11. Local Planning Authority is undermanned severely and is giving decisions on applications on a ratio of 1:2 of actual applications. Over the past 5 years a backlog of 12 months planning applications has built up. It now takes 12 months before someone actually gets to see your application. Must be the only understaffed local government department in the UK!
  12. thanks - I'm definitely not into buying somewhere else just now though!
  13. hi folks - first post here so be gentle! I'm in a position that by the age of just 23, I luckily (not through foresight!) own my property outright. The 1st property I bought was in Dundee when I went to University there. I bought a 2 bedroom ex-local authority tenement flat in June 2003 for £55K. Afterwards I found out the previous owner had bought it from the council for just £9K in 1994 - I was miffed! I spent £5K on the flat 'doing it up' myself and was quite glad with the improvements made. Anyway, upon graduating in June 2005 and leaving the student life behind I decided to sell up and move back to my home town. I put the property on the market and even with the massive price rises expected around £80-85K maximum for the property. I had over 70 viewings in just 14 days and over 25 notes of interest. The chancellor had only weeks earlier put the stamp duty levels up so maybe expected a further £5K maximum from the wave of new house buyers created by that. Imagine my bewilderment when I received 10 offers over £100,000, the top one being £119,111 (just under stamp duty level)! So I sold the flat at this price and decided to start looking at purchasing a place in my home town. Luckily back home house prices weren't quite nearly as high so I managed to use my profits from the previous property + savings I had to buy a 2 bed flat outright for £85K. I have to admit it feels great having no millstone around my neck as a mortgage at such a young age - but I also fear a crash. I am wondering whether now is the right time to leave the market? I have visited this site quite a few times over the past couple of years and have been extremely cautious with making sure I never overstretch myself regarding property. Prices seem to have stagnated here over the past 2 years and I'm worried about losing all that equity I've built up if there is a crash - is it better for me to sell up now, wait for the prices to drop 30%+ over the next 2 years and enter the market again when I can get more for my money? It's a tough one for me because I do like my home but at the same time wouldn't like to sit tight and lose £25-30K on my property just because I didn't want to rent or move. My second dilemma is with my parents situation. They have a rather strange but valuable property in the country with a smallish brownfield + large greenfield site attached. They are currently investigating selling the greenfield site to developers but this could take years depending on the reecently updated local plan. The property itself without any of the land is worth between £280-300K. They ideally would like to build 3 houses on the much smaller brownfield site (one for me, one for my sister & one for them) pending planning approval. They would give me the plot for free but I would fund the building with the proceeds from my current property. I must stress that this is at a very early stage and nothing has been decided yet. They are not too sure about the market just now and are thinking about selling up in the summer and holding onto the land. The reason for this is that they believe the market has topped out and if they wait 2 years for planning approval + for the houses to actually be built then they will not receive as much for their property as they would now, meaning they couldn't afford to build the 2 others (due to building costs not dropping) + have a nest egg leftover for themselves. If the house prices round here were to drop between 30-40%, their pensions nest egg of £100K would be gone. If however they sold at the moment and rented a large property (which can be done so locally very cheaply) for the next 2 years while the crash is going on around them they would have the money safe in the bank to build the other 2 houses. This is all relative to planning of course, but my parents wouldn't even think about putting their own house up for sale without having first gotten outline planning permission for the other properties on their bwornfield land. My dilemma is basically whether I sell up the flat I own outright, take the gamble and rent for the next couple of years waiting for prices to drop then enter the market at a far higher level for the same amount of money, or sit tight and see what happens? As for my parents, if they were to sell now and get planning permission on the site they'd be laughing, whereas if they stay put and the prices drop then a large chunk of their retirement money will be lost. I know I am in a terribly fortunate position given the the shit situation most young people find themselves in these days, but I really need some advice as to my next step. Cheers in advance.
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