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Hector's House

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  1. Now we know why this lame ass government of ours thinks we're all out there earning £26k! LOL!
  2. True. My sister earns just over this amount but she took my advice in recent years and got rid of the credit card debt, kept clear of all other debt and she's worked hard to get herself into a position at work where her bosses know she's not just a drone happy to come into work and sit there for the allotted 8 hours. She's sniffed out any new working methods coming in that make savings and increases in efficiency got herself involved so I'm hoping she will see the next few years out with a job. I earn more then her, but certainly not the govt's joke 'average' wage. Between us we would still struggle if we tried to take on a property more then £100k...despite one IFA telling me they'd give me £130k before even taking my sis's earnings into account. We're lucky. We've had property before, sold at a good time and banked a good amount that we will use for our deposit. To be single, earning £14k and with storecard, credit card, car loan debts must be a pretty miserable place to be these days.
  3. This is sound advise. I backed off from trying to get my BTLer friend to see sense when he started getting very bullish evey time I was around and told me the people on this site were a load of idiots. Luckliy I spend most of my free weekends out of town with my partner so avoiding any potential conflict wasn't a problem. We met up again at a do we'd both been invited to a couple of weeks ago and he actually apologised and said he'd wished he'd listened to me and started acting on the advise a year ago. He may still be in the sh!*e yet but at least he's stopped buying. What I've learnt from it is that it is very easy in these distorted times for the whole issue of housing to wreak friendships. And I haven't been tempted to tell him 'I told you so' cus it really doesn't need saying. Although you want to stop your friend making a huge mistake it is probably best to bite your lip and leave him to it. You'll still be around when it all comes collapsing around his ears to give him your friendship and support.
  4. I would be happy to pay in the region of £55k for a terrace as that would more or less match my increase in earnings over the years. It would be even better if a semi fell back to £40k but I can always dream.
  5. So this woman earns £1,500 per month, has £8,000 credit card debt and a £4,000 overdraft ( ) and now realises she can't afford the £2,000 per term private school fees for her kids and she can't afford the petrol for her BMW X3. It beggers belief!! Fair enough, she didn't expect her husband to die so young but where do these people have their heads stuck? In the sand???!!! I'm surrounded by youngsters in the office who all think they deserve to drive a BMW on a juniors wages. What has happened to this counrty??
  6. I'm seeing the same here in the East Midlands. Mind you, it's only the new sales coming onto the market that are at ridiculous prices...maybe they are anticipating a summer bounce? Those houses that have been around since early last year are starting to either be withdrawn from sale or coming down in price. I reckon for some reason the EAs are determined not to be the first to acknowledge a crash is happening even if that means ignoring the vendor's request to advertise it at less in the hopes of a sale. I'm assuming they're doing their best to talk housesellers to rent out their property (through their letting agency side of course) in the meantime. Either way everything is just stagnating.
  7. Is this the MSE poster who was saying he'd been to all his mates and family trying to get together the difference between what the bank would now lend him and the price he promised to pay the developer so he could complete? Madness!!!
  8. We still have companies building new stuff up here in Nottingham and I can only assume that their doing it cus they simply didn't expect the party to end. It's only very recently on MSE that I've begun to see threads appearing with folk who have realised the worm has turned and are trying to get out of their contract to buy. In some cases they signed that pledge years before the development was finished. And seeing as these were people who actually had the nounce to get online and try and find out what to do (finding MSE along the way) I bet there's thousands more who also thought the party would never end and are still signing up for these new builds. A friend of mine who has spent the last few years leveraging to increase his BTL portfolio has finally said he'd wished he'd listened to me a year ago and stopped buying. Maybe it really does take until the word 'recession'appears on the front of the papers before all types of folks - builders and buyers realise what's going on?
  9. There was a giant Weta down on the beach at Beach Haven when I was a kid that used to sneak down the rope swing and drop onto you when you weren't looking. os I had the misfortune to be bitten by a Redback the day before my family came back to the UK. That was a LOT of fun in a hospital in Los Angeles on our stop over!!
  10. I wonder how long it will be before EAs are following the NZers and trying to sell house with such slogans: 'The kiwi`s that I have met run on a pretty tight budget. I know of one couple, who both work full time, run it so tight that their treat (which they haven`t had for a while) is a take away on a friday night. I would say that this is not unusual. My own thoughts are that this is just the start of a slow economic depression. Every week in the property press there are more and more price reductions with agents using phrases like "desperate" and "bank says sell". With food and petrol prices on the rise and wages remaining still, I cant see a sudden recovery.' Go here for the full thread: http://britishexpats.com/forum/showthread.php?t=543288
  11. The local EA office that messed me around and treated me as if I've got something wrong with me for not wanting to pay full asking has just closed down. Closer to home our Facilities Management (postroom/porters/security) has just been told they're to lose 5 people. And if 5 don't volunteer it will go to folks having to interview again for their jobs.
  12. Excellent post. I wonder if we have the calibre of politicians left anymore that understand this.
  13. I fully agree. I've told him that he should consider giving up smoking before complaining about how he has to live. Unfortunately his head is in the sand. He believes he should be able to smoke as he works full time so deserves it. I've given up and will just wait until the month when he can't afford his mortgage payment to give him a wake-up call.
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