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Everything posted by Dubai

  1. Jiggery That's the beauty of debate and conversation. It can open your mind to new possibilities. If this site was populated only by people who think UK house prices are going to crash, it would be a pretty boring site. We'd all be sat around patting each other on the back, reinforcing our entrenched points of view. That would have a short appeal for most. Conversation is great because it can lead anywhere. Take this thread, which started as "BBC **** up", very valid for here, as the BBC is a "trusted" source of info, even for house prices. The thread originator showed one example where they were'nt quite so trustworthy. I expanded by posting a blog response which contains some extremely disparaging remarks about the BBC, which just so happened to be about 9/11. You brought up the subject of 9/11 tin foil hatters..... which while we're on the subject, who's nuts.... the 60% (plus) of US citizens who believe their government were complicit, or the 40 who don't? Or are you brave enough to think for yourself, and weigh common sense against spin? Which brings us back to house prices!
  2. Have a look at http://www.mahendraprophecy.com/ if you are of that bent!! Interesting?
  3. I tried hard to not reply.... but it's... like..... some ..... demon..... possessing.... me ....Ahhhh! Jiggery.... if you think this site is populated with nutters, you don't have to come here, particularly if their views offend you. You have the choice. I bet you're the type of person that goes to a pub, sees a NO SMOKING lounge bar, a SMOKING public bar, walk into the public bar and immediately write to your MP complaining about smoke pollution, second hand smoking and lung cancer. I can understand, and respect, the non-smokers points of view.... that they should be free to go for a beer without the risk of second hand smoke. But is it against the common principle of common sense and fairness (which Britain used to be reknowned for) to accept that there ARE a lot of smokers in the Country who would also like to go for a pint and have a fag at the same time? In a fair society, a law would have been introduced in which smoking is NOT permitted in any enclosed space where the public HAVE to be (the work place, shopping centres etc.) EXCEPT in designated, segregated areas, and in places where the public have a choice, e.g. pubs, then the owner MUST clearly display if smoking is permitted or not, so that the individual could make an informed choice. What's wrong with that? Instead we have a brainwashed public demanding a solution to a problem that's been thrust upon them. next on the agenda is junk food, then it will be alcohol, soon to be obese kids, until we get to a point where your every waking moment is so thoroughly regulated by control freaks that you will probably break the law at least twice before you've had your morning dump. You are all grown ups, with your own opinions and way of going about things. I may not like some of the things you say or some of your views, "but I will defend to the death your right to express them". Anyway, what's this got to do with houses?
  4. You make a very reasonable point there, Mr.HG, one that I'd not considered before. However, as someone who's just made a little off selling my only house, I would be livid if I thought I had to give any of the proceeds to Gordon Brown. As far as I'm concerned he took enough off me in income tax, VAT, fuel tax, cigarette tax, alcohol tax, National Insurance, Stamp Duty, savings tax, council tax, air ticket tax, vehicle tax, and every other damned tax you can think of.... and I get nothing back for it, apart from an Armed Forces that's busy blowing the hell out of people that have never heard of Britain! And even they don't have money for bullet proof vests or guns that work! Pension... forget it, Health Service.... 4 hours in A&E is a target..... roads.... got to pay over and above Tax Disc and fuel tax now! Your point is well taken, but I think a more reasonable focus is how the government spends the zillons of pounds we give it. They seem to be chucking it away these days. And we really can't afford that.
  5. Oh, yes you can buy bacon, and alcohol!! But like Marge says, so what, we bend over backwards in the UK to accommodate people of different faiths and cultures, why shouldn't we expect the same courtesy extended to us? Bottom line is if they didn't, people from Europe wouldn't bother coming here.
  6. Castro The news we get is generally from connected mates at work and in the pub! There are a lot of Brits in the construction and real estate businesses here. For something more solid, the papers often publish stories that give insights.... Gulf News, Khaleej Times, 7 days... you'll have to google them. Or just google dubai property crash / collapse, that will dredge up some interesting pages! I know a lot of people that have lived here for more than 10 years.... not one of them will sink a penny of their own money into property here. I'd rather listen to them than some EA PR type any day.
  7. Did you mean to say "Who LEEKED this"? I'll get my coat too.....
  8. 9/11 CONSPIRACY THEORISTS ARE THE ONLINE EQUIVALENT OF THE MORMONS Always popping up at the wrong time, interupting every forum, just as you're sitting down for dinner. The comment was about the reliability of the BBC and people's diminishing trust in what is a publicly funded organisation that we all hoped was trustworthy. It's not a 9/11 debunk post. Still, while you brought the subject up, you don't have to be a "conspiracy theorist" to spot the glaring holes in the official story. In fact anyone that purposely looks the other way is not doing anyone any favours.
  9. They do that a lot lately. But the biggest one to date http://www.bbc.co.uk/blogs/theeditors/2007...conspiracy.html The comments are not exactly flattering!!
  10. Well, I didn't put it in my diary but it was around 1992.... ish. I think.
  11. Mr. Serpico I hope to catch up with you on this board. Just wanted to say thank you for all your invaluable information, and taking the time to help our youngsters. Why don't people understand the value of experience these days?? Cheers and good health.
  12. Daiking, thanks for the thread. It's fascinating! My memory is ok.... we really DID used to live in cardboard boxes and lick roads clean wi't tung
  13. I'd like to propose a toast to Serpico, a True Brit. Hip hip.....
  14. It seems inconceivable that prices could ever fall to such levels (inflation adjusted) again though, doesn't it? I mean, many people will pay that much for a car. Don't forget back then we didn't have unlimited immigration propping up prices as we do today I don't think prices will fall anywhere near those levels.... that was what, 15 years ago? But, I wouldn't be surprised (if there's a glut of repos) that realised prices could be as low as a third of recent asking price, in some cases, like the chapel and many others I heard of. Remember too, the extent and severity of the crash then was inconceivable.... they were the days of the Yuppies and LoadsaMoney. Thatcherism could do no wrong! Everyone was a financial expert and out to get rich quick. One reason why endowments were so populer.... really hyped. I felt really sorry for the Chapel Owner. I looked at it and thought 65k was a bargian, but I still hadn't sold my flat at the time. The owner had even put in a hand built kitchen, which still had a bit of finishing to do. I think there are quite a few on this forum who were around then, and will have their own stories. It would be interesting to hear some. My impression at the time that the huge price reductions (percentage wise) were not just in the West Country, it was happening Nation wide. As to the immigrants..... I had a house near Aberdeen. The locals are up in arms. The place is flooded with Eastern Europeans, but many don't contribute. There are stories of farmers packing land with caravans and renting them out to these people. Somehow they get around having to pay council tax. They also apparently come to work in the summer and then go back home cash rich. That is wrong. If you want to become part of a society, you should contribute. Still, I don't want to go down that thorny road!!
  15. The Oscar-winning director of Titanic says statistical analysis and DNA back the claim. Archaeologists say that the burial cave is probably that of a Jewish family with similar names to that of Jesus. Crikey. I didn't know you could get someones name from DNA. Has anyone told CSI?
  16. As this bit's for real life stories.... this is how bad it could get ..... so if you're young and thinking about buying, think twice for now. And I'm sure there are others here that have worse! I bought a fantastic flat in 1988 (ish). Victorian, huge rooms (living room 24 x 24), private garden, for 45k. In about 1990, an EA neighbour told me he had a cash buyer for 95k. I turned him down, thinking I would only have to buy somewhere else (rent....duh!). 50k profit was a lot of money then. A year later, interest rates went to 15% (these years are approx.!). I could barely afford the repayments. Luckily it was brief, but I put the flat on the market. I just couldn't afford it. After a long time I got an offer of 42k. I'd taken a second mortgage to fund a failed business. I took the offer, but had to borrow 5k from the bank to get the mortgage discharged! So much for my step onto the first rung of the ladder. But I was lucky. I'll never forget a converted 4 bedroom chapel in a beautiful Dartmoor village. Was 100k, reduced to 65k. It sold at auction (repo job) for 32k. There were hundreds of places like that. Oh how I wished I'd sold to the punter for 95k, rented, and later bought the place back for cash! After all those years, I think it's happening again. This time I have sold to someone who made a great offer. I'm in rented accommodation. I know the "affordability" indexes show that we're not in the same position because interest rates are low. But for how long? Anyway, if you're a potential FTB, have a good think. At the end of the day, a house is a home, not an investment. If you're sure you can withstand sudden sharp increases in rates, go ahead. It will all balance out later. But if you're stretching and being imaginative with budgets, hold fire and be happy to rent for now. At the end of the day it's just a house.... you can't take it with you when you die.
  17. Erm, yep, I think you're right there, jp1
  18. Mark I see your point.... but if you were to sell your car on a commission basis through your local garage, and he got you your 100k after he'd managed to convince the buyer that 100k was the going rate, then is the buyer such an idiot if all the garages are saying the same and he really needs a car? EAs put the price / value on houses. Surveyors compare the asking with the condition and adjust accordingly. The up front price of a house is dictated by the EAs, not the surveyors.
  19. Bloody money lenders! I don't think surveyors should be asked to give a value at all. Something is worth what someone is willing to pay for it at the time. Full stop. The "true" valuers are the EAs. They visit and come up with a price. They are property brokers, and have all the recent market history and trends, and should be expected to know what a property is likely to fetch. The surveyor should only be asked to report on condition. If the money lenders are going to sue anyone, it should be the EAs. They're the ones with the vested interest in high values, they're the one that come up with the asking price. What surveyor is going to challenge that? And as for the money lenders, they want all the profit of selling you a big mortgage, but none of the risk. Scum.
  20. Thanks fws. it will have its downside too. There doesn't seem to be an ideal place to go anymore! I'd love to go back to the Uk, but not as it is. We go back every year, and every year we come away more disappointed. What you say is true. I'd rather start afresh in a country I don't remember as being good.... which the Uk was, a long time ago. Take care, and good luck to you, too.
  21. He's taken out a lot of mortgages recently. Is he robbing Peter to pay Paul?
  22. Sorry to jump in late. Just read the thread. MattSta 1964 has hit the nail on the head. Governments the world over (with a few notable exceptions) all seem the same these days, pushing along some agenda that is presently hidden. That is why they all seem the same, with superficial differences. They ALL sing "Big Bisiness Is the New God" and no one seems to want to challenge that. Look how poorly privatisation has served the British public. Look what a mess they're making of the last publicly owned services. You'd almost think it was being done on purpose. I don't blame just phoney tony. It started with thatcher, who managed to sell Brits stuff they already owned. Phoney has just carried it along, as will whoever gets in next. I'm not a tin foil hatter, but there really seems to be an agenda to strip the uk (and usa) of its wealth, and leave its citizens coping with debt for a long time to come. Time to get rid of the accountants!!
  23. Whoooaaa there, fws!! I didn't say the Uk was better. We're not off to the UK, we're leaving Dubai. I'm just passing on a little info for people considering spending GBP 600K on a 4 bedroom villa in the Ranches, or well over a million on the palms.... it isn't as rosy as the marketing men would like people to think. And if you live here, you know exactly what I'm talking about....
  24. Guess where I live Been here for 5 years. Arranging to leave in the next couple of months. I wish the UAE well, but think it's fallen victim to a severe bout of greed and believing its own hype.... which has been thrust upon it by wiley foreign businessmen, who don't give a toss about the place, except in cash cow terms, I think. 80% of all properties sold were purchased by short term investors. Many properties have changed hands many times before they were even built. The build quality is at best questionable. You won't find many buildings here over 30 years old. if you want to buy here, come and stay in July and August first. It is forecast to reach 54 degrees this year, and the humidity is debilitating. No one goes to the beach in the summer. Pretty soon the beaches will be gone, part of private developments. Many houses on the Palm (1st) were designed to have garages. The plans were changed to cram the houses much closer together.... more profit. The gargages went. You may get an electric buggy from a car park to get your Spinneys shopping home. Pay a million quid for that? get a life. And Gasman.... no tax, eh? 5% municipality tax, foreigners pay more than double the local rate for electricity and water.... my leccy bill is about GBP 2000 a year, because of the aircon. Food is nearly four times the price if you want to eat what you eat in the UK.... Teletubbies Yoghurt, 99p, here, nearly 4 quid. And don't ask about Bacon!! We thought it was ok when we arrived. It's getting steadily more stressful and unpleasant, and we're off.... bye bye, Dubai
  25. I'm with Rakno. I haven't sat down and done the math, but my gut feeling was now was the time to sell. I went through the last crash, and was paying a variable Endowment Mortgage when interest rates hit, what, 15% (?), double the rate that I took the loan out. I know things aren't like that yet, but the similarities between then and now are uncanny.... rush to buy, overstretching to get a mortgage, interest rates rising, FTB's priced out etc. My gut feeling is based on fundamentals. If you have to borow 6.5 times your gross to buy an average house, you're on a hiding to nothing and sure of financial heartache in the future. So I sold. I got exactly three times what I paid for the place, exactly 6 years ago. I had a straight repayment mortgage this time, and was pleased that I'd paid off more capital than I'd expected, so I made quite a tidy sum. I am debt free, not worried in the slightest if interst rates go up as it will boost my savings, and feel, somehow, as if I've abandoned a sinking ship in the nick of time. Time may prove me a fool, but it can't take away the sense of peace I have today!
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