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House Price Crash Forum

Lhotse Girl

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About Lhotse Girl

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    peak.view@virgin.net
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    Sheffield
  1. So, the expectation from this program is that we will see at least 50% reductions in the prices of homes, with the adverage loss of between 30 and 40% My sensible question is, in my desire for facts and to read consdiered thoughts..... is on what basis is this true given that the housing stock has always been a solid investment over a lifetime.... if this was true, then could be be true that house prices will go back to this level in say 10, 15, 20 or 25 years? On the other hand, I always believed the valuation on my council flat at £60k was just not worth it, £20-30k would be more like it. Am so glad I rejected buying it and also, I can see why there could be an expected 50% drop, as not many homes are worth they prices they are listed at..!! Such a shame as a first time buyer I will have to find a big deposit, but at least I won't be paying silly money for a house on rotting stilts Krystyna
  2. So, the expectation from this program is that we will see at least 50% reductions in the prices of homes, with the adverage loss of between 30 and 40% My sensible question is, in my desire for facts and to read consdiered thoughts..... is on what basis is this true given that the housing stock has always been a solid investment over a lifetime.... if this was true, then could be be true that house prices will go back to this level in say 10, 15, 20 or 25 years? On the other hand, I always believed the valuation on my council flat at £60k was just not worth it, £20-30k would be more like it. Am so glad I rejected buying it and also, I can see why there could be an expected 50% drop, as not many homes are worth they prices they are listed at..!! Such a shame as a first time buyer I will have to find a big deposit, but at least I won't be paying silly money for a house on rotting stilts Krystyna
  3. Frankly my dears... I feel exonerated.... After all the heated discussions and arguments with greedy colleagues and people about their greed to get on the property ladder and listening to their self worth about how silly I am to not join them.... and my belief it just wasn't worth buying my council flat despite a massive discount.... Well, I am sitting here proud of myself and smiling from ear to ear..... I honestly saw this coming when I left uni in 2004.... and I cannot beleive it has taken so long to start happening.... But wait while the real crunch starts.... peak oil..... Krystyna
  4. Nice points.... but lemme add two key words, if you please.... PEAK OIL... that's the far bigger issue at stake here causing all this for links, videos and the start of more info, go here http://www.sheffieldgreenparty.org.uk/peakoil/index.htm
  5. You can start here.... watch the key films... Peak Oil Information
  6. After all this time, I'm so glad I didn't buy my council flat... they valued it at £60,000 and now the other flats on sale just like this are valued at £54,000 as they are not selling..... I would have lost £6000 in value, and my profit margin of £24,000 would now stand at £20,000 Arf, arf, arf, arf, arf, arf........ ROLFLMAO
  7. Is there some signficant underlying tones going on here re the worlds financial credit crunch? I had an interesting telephone call tonight from Beneficial finance, from a worker who's job was to inform me that the £200 loan I took out last xmas over a four year period, for a computer from PC World, now had a balance of £186. When I said I was interested in paying it all off before April 2008, he gave me a reference number and the telephone number to ring when making the payment. He wasn't interested in selling me anything... flabbergasted... yes... Not even chasing payments... shocked.... yes... Fact of the matter is, I graduatred a couple of years ago, clearing my debts and have a good public sector wage, so in April 2008 I'll be debt free completely, no credit etc. I took out this loan as I desperately needed a computer as my old one went kaput, the four years was fine and the £6 gives me time to sort my other debts before April. Why was this chap ringing me to give me a reference and telehpone number in case I wanted to pay it off... surely, they would be happy to continue to charge me the higher interest, make some money out of me for four years and encourage me to stay in debt with them for this measly £186 Does Beneficial Finance know something I don't about the world's credit crunch... are they ringing all their customers.. worried that I won't pay back the measly £186... Barclaycard haven't yet chased me for the £500 owing to them... christ all mighty, where shall i send my cheque.... Krystyna
  8. I go every week to Netto's for the essentials and cheap stuff, and buy the treats from Waitrose every week - everyone thinks I've got lots of money and do a full shop at Waitrose...... kinda reminds me of the housing market, it's all a farce and full of crap behind the facade.......
  9. Is is me, or does everyone agree that these houses are NOT worth the money. Now... go to wickes.... and you can buy 1 square metre of bricks for £27...... give or take the odd kitchen unit and fittings for the rest of the house, and the price doesn't match the 1 million pound mark.... What are you paying for?
  10. Thanks... that makes me a cat then..... they love walking fences and high vantage points......
  11. Ermmm..... What's a bull, and what's a bear?!! Serious answers...
  12. GULP..!!! Just read the above paragrah in the article, and it didn't sink in until now how dangerous it to have such an increase in bankruptcies... Profound.... I have just 9 more months of being clear of all my debts from a debt of £8000, and I TOOK responsibility for MY irresponsible spending.... Why should I be responsible for paying for other's mistakes when I've seen to mine?!!
  13. One has to stay here for 5 years to maximise from full discount of £24k. If I sold in two years, I have to repay back 3/5ths and if I sold if four years I have to repay 1/5th of discount. The lease purchase is for 125 years. Thanks for your interest.
  14. I would appreciate your shared views, musings, comments and experiences. This post has more than one purpose, to see a discussion developing surrounding right to buy, consider staying with social housing and enable me (and others) to confirm or make a decision on whether it's really worth buying on right to buy under the present climate. I live in a one bedroom council flat, it's quiet and got a lovely view, new kitchen and bathroom due to housing stock update and I don't think it's worth the £60k that the council have valued the property at, though it meets with current prices in the area. However, it's been offered to at £36k with discount. Most of the neighbours around me are either on benefits or from a disadvantaged socio-eco group. Most of my friends claim that it is such a steal, a bargain, and I'd be mad not to buy. My brother has even offered to set up an appointment with a building society and come down with me. For me personally, I remember how five to ten years ago, I could have bought what I wanted of a 2/3 bedroom house with a garden for between £30-60k. Through life's circumstances I could never get on the ladder. How the property market has changed. I suppose in five years I could capitalise on the profit and use the difference to buy in to that 2 bed house with a garden, but would I lose that discount in a crash and still have difficulty upgrading in any case. In any case, current two bed houses stand at £90-130k.... still out of my reach. Secondly, I'm 38, just qualified as a professional, single, have no children, never will, and don't see myself having a partner, so what is the point of a property when I might be safer staying in social housing. People have this silly argument then when the mortgage is paid there' no more bills.... excuse, but I think I have the forsesight to realise that homes need to be maintained. Rent to a social landlord means I have nothing more to worry about when in my property. I am also worried because as care manager I see so many people have problems through ill health. I might have an accident, a stroke, depression and unable to work - I'd never be able t pay off the mortgage because at my age I would have to work til I'm 65 if I am to pay off a mortgage. I'm in no rush to buy, is council right to buy worth it, I just feel I have no desire, but, I would love to have my own house. But how does one stand under this climate, and would I realistically acheive my dream. As I said earlier, I would appreciate your shared views, musings, comments and experiences.
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