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House Price Crash Forum


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About Turnbull2000

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  1. I have seen one on the street that made a loss between 2006-2009 though. I think the drop was in the region of £116,000 to £96,000 on a two bed flat.
  2. The market seems to moving again around in Tynemouth. My own street was dominated by for sale and to let boards in 2008 and much of 2009. This is no longer the case. Houseprices.co.uk indicates that they are now selling, and not at bargain prices either. My mam's street in West Monkseaton had half a dozen listed for anywhere between 6 months and over a year. One withdrew from the market last Autumn after failing to achieve a peak asking price, but another four may have finally sold. And check out this madness from her street from back in 2006... 21/04/2005 £59,500 No. 21, 11/09/2006 £150,000 No. 21
  3. Don't local authorities tend to have a higher proportion of part-time workers? A 10% contribution is way too low (it's usually 15-25%), so can only imagine that part-timers are skewing the figure down.
  4. Exactamundo. The phenomenon BTL sweeping up large numbers of traditional FTB properties is here to stay. The market is obviously subdued at the moment, but this will come to pass. I do disagree on point one though. I'd replace family breakdown with our 'progress' towards two-full time incomes being required to service a mortgage. That's another market trend that's here to stay.
  5. That property ownership will increasingly becomes the domain of only those are wealthy or inherit wealth i.e. their parent's house, seems like the natural direction we'll take, however undesirable. We're currently witnessing the first generations inheriting parental housing wealth (most people rented before the 50's), and these assets will be accumulated or used as collateral to buy more property. Once the Tories abolish inheritance tax below £1 million, this will probably accelerate further as those who inherit large sums manage to outbid those with less or no capital on multiples properties. Whereas those who don't have property rich parents face simply face the prospect of a lower quality of life, through either renting under shoddy tenancy laws or under the burden of a heavy mortgage for most of their working life. The solutions to this are simple. It can be avoided. But politicians don't do what's best for society, they do what's best for themselves.
  6. Like FTBs, I guess deposit requirement are holding back thousands of BTL investors. When FTB LTVs increase to 90-100%, I wonder if lenders will slacken BTL requirements too - bringing back the prospect of an investor driven lower rung as we had before the 2008 crash.
  7. http://www.moneyhighstreet.com/finance-news/borrowers-gain-savers-lose/ It seems savers will continue to be considered fair game in an efford to boost the property market. Are lenders doing this under their own accord, or is there a degree of politcal pressure at work here?
  8. I think HPI is bad. I'd like prices to continue falling. But I don't believe it will happen.
  9. http://news.bbc.co.uk/1/hi/scotland/8452719.stm Well, it annoyed me
  10. http://conservativehome.blogs.com/centreright/2010/01/brown-killed-aspiration-by-a-thousand-cuts.html#more He asks the question "Who suffers from Brown's economic disaster?" One of these groups are apparently....
  11. Bet this thread doesn't last long... http://www.askaboutmoney.com/showthread.php?t=129461
  12. Brendan O'Conner is a **** of the highest order. He's runs one of Ireland's most popular internet forums for money and finance, and a few yeas ago started banning and deleting any 'negative' property market threads and chat. The site is Askaboutmoney.com if anyone is interested.
  13. http://www.ft.com/cms/s/0/0db3556e-fbc7-11de-9c29-00144feab49a.html?ftcamp=rss&nclick_check=1
  14. Competition in the mortgage market is certainly hotting up. All it takes now is the return of 90% and higher LTVs and the 2008 crash may be wiped out sooner than everybody expected. The FSA will almost certainly be pressing for lower deposit requirements.
  15. http://www.ftadviser.com/FTAdviser/Mortgages/Products/News/article/20100107/26f54e7e-fb7c-11de-8fd9-00144f2af8e8/Nationwide-set-to-cut-number-of-mortgage-rates.jsp It is only a matter of time before 90% mortgages come into the fore.
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