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House Price Crash Forum


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About greengreen

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  1. I know this area quite well and it has always been a bit grotty. there are so many shops that haven't been used for 5+ years (boarded up and very sad). What has happened is that about 2 years ago, the three upstairs floors, above an old bar, across the road and on the corner were renovated and sold (7 one bedroom flats). This has started a craze on this part of Lavender Hill and another 4 or 5 properties are now adding lofts and selling off the flats. Also these three premises were auctioned a while ago and I did see them on eigroup. Fortunately it does make this section fo the Lavender Hil
  2. I know this area quite well and over the past year the prices have gone mad. Ritherdon road and all the streets that run northwest from Elmbourne Road (Louisville, Drakefield, Streathbourne, Huron etc) have gone up massively. Admitedly they are very large houses, some with basements so you get a lot fo square footage. but people are now trying to sell unmodernised houses for the same price as fully modernised houses. Look at this one on Ritherdon road, I went to see it and you would need to spend at least £300k + to get it up to date: 6 bedroom house for sale Ritherdon Road, Tooting Bec,
  3. Telegraph - France faces 40pc house price slump France faces a property slump of Anglo-Saxon proportions as the frothiest boom in French history finally tips over, threatening the country with an economic shock just as austerity hits. "It is a gigantic bubble, all the more dangerous as it is spread across France," said Pierre Sabatier, from the consultancy PrimeView. "It reached a paroxysm in the summer of 2011. There is a mix of incredulity and denial as it starts to burst but there can be little doubt that all levers propelling the market are disappearing." have a read, there are a lot o
  4. Hi Agentimmo, Thanks for that, I was reading those posts when they went up and yes they did get a bit heated. What I though was interesting about this article was that it was in the Mail, which would potentially reach a larger audience and I also found the comments about the article interesting. I do not want to reignite a very heated debate, rather I wanted to post the article and leave posters to read if they so wish. there was also another article on the telegraph: British holiday homeowners in France to be hit by new tax which received quite a detailed comment from poster "fs": It see
  5. you may have already seen this on the main forum: Daily Mail: Britons with holiday homes in France face £700-a-year tax as Sarkozy looks to raise cash some Interesting comments: An excellent plan, but why not French owners too and why only £700? If we introduced punitive tariffs on second homes in the UK (regardless of whether the owners be foreign or British), not only would it yield lots of money for the exchequer, but house prices should fall to levels local owner/occupiers could afford once more. That's ok sell up and leave them with empty wasteland and a drop in tourism. Give me enou
  6. I dont think that they messed up too much, the exemption does make some sense. Imagine that you work for a large french company and are asked to do a 3 year placement in London for example. You may want to hold onto your house for when you return, some allowance should be given for that, otherwise people wouldnt move or they would have to be compensated for it. I suppose that there is a difference if you rent the house out as you are then raising revenue and would be subject to tax in teh country you reside in.
  7. also saw this from the main forum home page: France To Slap Tax On Foreign-Owned Second Homes PARIS : France is to hit non-resident owners of 360,000 second homes - many of them British or Dutch - with a new tax equal to 20 percent of the properties' rental value, under a draft law unveiled on Wednesday. Property dealers immediately warned the measure, designed to cut France's yawning budget deficit by about 176 million euros per year, would have a chilling effect on the holiday home market in rural regions like the Dordogne. Some also questioned whether it might breach European Union laws
  8. If the french say that its for business, surely the tax man will get them as they will have to show that they are running a business in france and therefore are due to pay tax. I dont see how the french or other nationalities who live outside france will get out of this tax.
  9. Very interesting chart if I'm reading it correctly, what is amazing is that there are countries that have over 50% of their working population as LTU, how do they survive? And why is Mexico so low? do they have no benefits whatsoever?
  10. As I am not an economist, can you clarify why if boomers/care costs will being funded out of the tax base instead of savings would make IRs higher? I understand that IRs have been lower in the last 10 or so years compared with the 80s and early 90s. I always think of Japan when I think of low interest rates, what did they think when their bubble burst, did they anticipate that it would be as long and slow as it has been and why couldnt this happen in the UK? with low interest rates. very true, probably why there is such interest in bricks and mortar, people can relate to the concept of own
  11. I agree that IRs wont stay low over this period, but what do you think will happen over the medium term to wages, tax and inflation. I think that the government will offer some sort of tax cut prior to the next election, having tried to deal with the deficit now, I think that there will be considerable pressure to raise rates, which will be dependent on how well business is doing, and finally the pressure for wage inflation will be significant, unions will push hard, but find it difficult, and the desperation of some to find jobs based on unemployment will help business keep wages down. I
  12. if you are thinking that the final bottom is coming 2020-25, thats a long way off. In a worst case senario that means 18 years from peak (2007) to 2025! people not on IO mortgages should be able to pay off a good chunk of their mortgage by then. If interest rates stay low to stimulate the economy irrespective of inflation as they are now, that gives some mortgage holders a chance. the tragic thing about a long drawn out correction is that if the avg age of a FTB is 37, the there must be some who are consderably over 40. For those individuals, if they have to wait another 10 years at least fo
  13. I am getting used to hearing about hundreds of billions and the occaisional trillion, but when numbers like this come up i find them truly staggering, (maybe I just need to get used to them and then it wont matter, just like ever inflating house prices, I just need to get used to it). Surely if something goes wrong in this marketplace the effects will be enormous? Is this simply an example of severe over leveraging to extract ever larger and larger profits based on very little? Can someone who has a good understanding of what these "products" are, explain in a simple way to a non banking pe
  14. I read this story from a link on the home page of HPC, please have a look, I think that you'll find the URL is quite unusual! I cant paste it here as the filters will probably cut it out. The unusual link also shows up on google if you search for: cameron says gordon brown is a c***
  15. you read my mind, i have thought about this too, now all I need to do is work out how to get the £10m!
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