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House Price Crash Forum


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Everything posted by strbear

  1. Mmm - with a 10% deposit it only £420 a month on a mortgage at 4.99% - not saying values won't fall further - but in a world of madness it is a chink of light!
  2. Like many I've been on this site for years and, in that time, I have come to wonder if I have it wrong and actually property will continue to be sold for much more than I think it can possibly be worth. But . . . . . . I am coming across more properties that, whilst still overvalued in my opinion, are starting to become more realistic - to me its probably a 40-50% drop thats needs to make it so. But whilst looking today, I saw this which is in a nice development in a part of "gentrified" West Yorkshire Link to rightmove Link to 2007 sale price - and its up with a 60% fall over the 2007 last sale price. Thats a cash buy ! There is light and it will come to pass, glad I held on and hope to reassure a few others on here, keep the faith fellow bears! SB
  3. Well if you want to know what has happened to house prices in the last 10 years in 3 pages here it is. Full text As an example; Maybe its the hype before they announce this month's YOY ?
  4. More at LA Times http://www.latimes.com/business/la-fi-cove...0,1586518.story
  5. Green shoots?I don't think so. More at http://business.timesonline.co.uk/tol/busi...icle6728251.ece
  6. From the LA times; More at http://www.latimes.com/business/la-fi-mozi...0,2270688.story
  7. According to the Yorkshire Post, it appears their joint venture partners will be continuing with a number of the developments
  8. Article in the Times for tomorrow morning . . . . http://business.timesonline.co.uk/tol/busi...icle5805254.ece
  9. So the question is - will we follow or is it different here? http://www.latimes.com/business/la-fi-home...0,7584906.story SB
  10. Oh all you doubters! Look closely and you can see how the business plan works. Champu is based in 3 Liverpool city centre flats knocked into one and the un-pronounceable crystal fitments and the animal print sofas were included in the repo flats - total cost £600!!!!! Stretch Limo bought in a pre-pack chauffeur firm for £300 and you're in business for under a grand! He will still go under though - £20K a month for suntan and hair plugs is a lot of champagne! SB
  11. Sorry to burst your bubble but the truth is its not about the MBA its about the person behind it. On my course (top 5 school worldwide) there were some who were there to get the qualification and some who were there to learn - most didn't understand what was being put in front of them and learnt by wrote - others used it as a chance to see things from a different perspective. Those who need to go and get an MBA shouldn't be allowed to get one - I was selected to go and ( I feel at least) a much better person for it so thanks to my employer and £18,000 pounds ( ten years ago ) I feel good about life. Sleep tight SB
  12. Guys Don't know where you are but if you wanted some sound advice on this and the career implications speak to Georgiana at Georgiana Head Recruitment in Leeds - all the advisers are Tax qualified and all they do is tax jobs - they advertise a high proportion of tax jobs nationally and are GOOD at what they do. Mention Steve & Cate said you should speak - hope that helps,, SB
  13. We're looking to buy on SoCal and it's true that prices have fallen dramatically (I would concur with 50% falls) in some areas of LA and Orange Counties. What is also true however is that some areas (the Westside (Santa Monica, Palisades etc) and the "real OC" (Newport Beach)) have barely started to fall - not saying they won't in time. What has plummeted, and it won't surprise anyone here, is the vast new tracts of land called the Inland Empire which were new build homes built by the 100,000 that were 2 hour commutes from the jobs and attractions of the area - generally bought by the poorer, priced out, high risk buyers that are now defaulting at rates of up to 1 in 2! Want a 2,500 sq ft house with 5 beds & a pool on a golf course - yours for £50K, want a starter home in Santa Monica and its still £500K! SB
  14. Hi Depends where in the country you are as to what is available. In Yorkshire you can get £5K from Business Link, you might get £3K from the local council and then access to government backed funding. If you're in Yorkshire PM me, if you are elsewhere do a grants search on the National Business Link website. Hope it helps SB
  15. http://www.latimes.com/business/la-fi-hous...,0,946173.story Coming to a street near you in 12 months
  16. I say look at California and its pretty similar - it's down by 40% plus out there and I think it's coming this way. Happy Christmas! SB
  17. Just had a look at the properties in my area and this one sticks out http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A - sold in 2005 for £179,500 and went this month for £86,000 - thats a 52.8% discount !
  18. In California, they have auctions but more important are the foreclosure (repossession) sales and "short sales" where the owner gets permission from the mortgage company to sell off the house for less than the value of the mortgage. On a recent trip to LA & Orange Counties, the number of short sales and foreclosures was amazing, in parts of Riverside County 30-50% of houses on a single street were foreclosure/short sales. As for the multiples to income, those who have some money think they are near the bottom (after 50% falls wouldn't you) so are buying whilst they can. How much further will it go? Answers on a postcard please! SB
  19. http://business.timesonline.co.uk/tol/busi...icle5386020.ece Its a house of cards built on shifting sands in an earthquake zone - and thats the good news! Enjoy SB
  20. Its the same with all good things - eventually they become a status symbol because they excel at what they do rather than owned by people who appreciate what they do or how they are made. As an engineer, I own a Sea Dweller, because as a piece of engineering it excels. As an engineer I drive an S Class Mercedes because as a piece of engineering it excels. None of this makes me a chav ( I hope!). And yes I've owned a Triumph but now I'm looking for a Jota! When I see an exotic car I always think w**nker but in truth some of them will be enthusiasts who have worked hard, bought carefully and do it for the passion. Please, take 5 minutes to work out "chav or enthusiast"* And just to make sure I also have an Omega Seamaster - not bragging - just enthusiastic, Regards SB * I have reserved the IP rights to this show and approached Endemol - if successful I will buy that Vanquish S!
  21. Good point but we may well have a long way to go if California is an example of where this is heading. Nearly 70% of sales in the IE were repossessions! Having said that, they look at Britain as if we were amateurs! Both articles from the LA Times real estate blog at http://latimesblogs.latimes.com/laland/200...-planet-an.html Have a nice day now! SB
  22. No Florida apparently - I suppose if your house is going to get repossessed you might as well sell the young one into entertainment as a last resort!
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