Jump to content
House Price Crash Forum

PatientWaiter

Members
  • Content Count

    120
  • Joined

  • Last visited

About PatientWaiter

  • Rank
    HPC Poster
  1. Apparently, an independant study has shown that in Reading, Berkshire, house price to earnings ratio is typically 11 (!!!). In Brighton, the average ratio is 8 (!!!!!). The most overpriced area in the South is Guildford... a house price to earnings ratio of 13 !!!!!!!!!!!!!! Anyone else see / hear this article this morning ????
  2. I'd normally post this in the "what's happening to house prices" thread, but just for your entertainment: http://www.rightmove.co.uk/viewdetails-459...pa_n=1&tr_t=buy These started life at 99K... then some dropped to 89K... then some dropped to 84K then they all dropped to 84K and now some have dropped to 79K... Down, down... deeper and down as Status Quo once said...
  3. Evidence of people increasing asking prices to compensate for potentially negotiated drops: http://www.rightmove.co.uk/viewdetails-905...pa_n=6&tr_t=buy There has never been anything in this street (or just 1 street away, max.) on for more than £155K (still 30-40k over DOUBLE what they were 5 years ago). Now, suddenly, they're worth 170K - apparently! One to watch, perhaps...
  4. All very evident already with the shared equity schemes. I always thought that was the government throwing down the gauntlet to banks and building societies. It goes something like "well, if you're prepared to lend at up to 130% of a properties value, fuelling the boom, put your money where your mouth is and risk 50% of the purchase price yourselves." Hey presto - at least two banks / building societies have pulled out of negotiations for this scheme and aren't falling for it. They'll lend to you, provided you are completely liable, and they stand a good chance of gettign their money back.
  5. Caught my eye this morning. Don't follow the show, so don't have a detailed knowledge of the plot line. The 2 minutes I caught saw a young man talking with what could have been his mother about his "heroic" taking over of the mortgage, but that they both knew he had no choice but to do it (maybe they'd lost the father/husband?) otherwise they'd have lost the house. He sat down and began a conversation with his girlfriend. He continued to apologise for their financial situation, promising that one day they'd go on that holiday, one day they do this, that and the other but at the moment, he
  6. Sorry, I meant to build an "AWOOOGA" into my last reply, directed towards Rigsby of course...
  7. If you STRed and got 100K, you may indeed only earn 3-4K per annum depending on your tax status. But in a falling housing market, if you hadn't STRed, you would be worse off by the amount your house fell per annum PLUS the interest you would otherwise earn on the STRed capital. I'd say that could be more like 15K pa, nes pa? It's the same as saying that in reality, the 3-4K interest from an STR fund isn't actually yours to spend, as there's inflation to take into account. A 40% tax payer earning 3% on STR capital is standing still WRT inflation (RPI rumoured to be around 3% but we all know
  8. http://www.thisismoney.co.uk/mortgages/art..._page_id=8&ct=5 Young reject buying to rent Mira Bar-Hillel, Evening Standard 11 August 2005 SPIRALLING house prices have spawned a new breed of 18- to 34-year-olds who have no interest in buying a property and are at the heart of a move towards Continental-style renting. Research published today has found a generation of young people who would rather rent in a fashionable area, where they can enjoy an active social life, than commit themselves to a mortgage for a home in a more affordable location further out of town. This change in attit
  9. http://www.thisismoney.co.uk/investing-and...71&in_page_id=3 Spread of opinions, but this one is interesting: QUOTE: The financial adviser FUND analyst Mark Dampier is among the most respected commentators on the mainstream investment market. His anxiety over savers' love affair with property is well-known. Buy-to-let, he says, is 'a disaster waiting to happen - if it isn't happening already'. Property has no place in his investment portfolio. Dampier, left, of Bristolbased adviser Hargreaves Lansdown, would put all his £100,000 into equities, half into well-run funds investing in em
  10. THE PROBLEM IS.. the LR figures are too slow a form of feedback... Example: The house I was lodging in in Basingstoke was on for 200K Sept 2004. Dropped to 189K by around end Oct. Finally sold just after Christmas for 182K. That's nearly a 20% drop - the listing only appeared on nethouseprices.com a couple of weeks ago. That's 7 month old news of a circa 20% drop, from a house that's taken 10 months to get from original advertisement to the new owners moving in... The LR prices are way too slow a feedback mechanism to precipitate a crash. PW
  11. This may be a great idea in disguise. Being a completely committed financial contrarian requires a level of dedication and self-belief that few can muster. I've held strong for over 4 years (!!!) but even I'm beginning to wane now (just when the market is crumbling). The best plans are more likely to be achieved with an accomplice. I don't mind admitting that I'm (recently) single, and would ultimately want to meet someone who shares my HPC views, prepared to live life a little "off the grid" for a few years and doesn't get suckered in by advertising or media claptrap. Effectively, turn "
  12. That's the story, word for word, that I was told by my landlord. But I'll try and substantiate his/my claim on the economics that are fuelling his development spree...
  13. Guess if he's done one, he knows what to put in the application to get approval "guaranteed". He sticks to the same style of house. No need to change anything he's doing...
  14. Basingstoke 14/07/05. The 3-bed terrace I’m renting a room in is up for sale for 145k. Two offers on the table within two weeks of it being on the market, one at 137k (the buyer was told where to go) and 140k. This second offer is from a local builder. Turned up in his Landrover Disco and his all-while squash outfit complete with gold chains and (real) tan. Says he converts the houses into two 1-bed “luxury” flats. Price breakdown / cost as follows: Buy house for around 137k. Pay mortgage for 6 months and work (for himself) 7 days a week converting the place having gained planning permi
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.