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Fairies Wear Boots

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Everything posted by Fairies Wear Boots

  1. I didn't read the article. I already know I want to punch Blanchflower extremely hard. Actually, I'm off to read it so I can fume some more.
  2. It surprises me they all wanted to sell their home. Surely, houses only ever go up and they're missing out on a shed load of house price appreaciation? So the scheme has only helped 2000. At least that isn't really large enough to interfere with the market.
  3. Right, so rents up, government borrowing up, some crash this is. In five years time the economy might be toast. But presently, we have borrow and spend, low interest rates.
  4. The thing with now versus looking back, (however you calculate percentage increases) is we have a different inflation environment altogether. Inflation (at least to look at the indices), isn't raging. We also have other factors and drivers of the market. We now have buy to let. We now have housing benefit. So anybody looking back, calculating percentage increases and then adding 100 percent, is just wasting their time. If we have decent interest rate hikes, it'll be wham, bam, nominal crash, thank you BofE interest rate setting man. God knows what we get if they can hold rates at 0.5 for the next 10 years. It's not looking very crashtastic at present, just a slow slow slow unwind.
  5. It was fcking funny! RBS bankers...Let's have a bet on these American Mortgage backed securities. How many billion pounds worth should we buy?
  6. Yeah but I know a person with a degree in maths that can make the above figures work. It goes like this, buy a place in 2007, Interest only mortgage, 5 Percent down, take rent, add some of own money to it, pay mortgage. Pay mortgage out of pocket when tenants move out, pay for renovations. Where is the profit in this? It's the form of the 15 to 25 percent capital gains he factored into the equation. And that was times by twenty as 95% was the banks money. Pity his estimates of capital appreciation turned out wrong.
  7. I want to vote for a rate increase!!!! How do I get on the MPC? I have zilch in the way of an economics background. I should be perfect for the job.
  8. Wish I could vote for this politician. I don't care what party she is from. I'm guessing it's not Tessa Jowell!
  9. Sounds right nice. Did you manage to negotiate the price down much?
  10. Is it sellers resistance or price high so you can discount more!
  11. Probably valued it themselves. 300K profit is not really too much to ask for a bit of project management and some good interior design skills. Because they're worth it.
  12. Talking of figures, my wife was reading some 'Home' magazine, and she said there was this couple in there that had bought a house in Sussex for 390K in 2006, spent 190K on doing it up, ( it did look fabulous), but the great thing was it was now worth 900K or maybe it was 900K+. Sold it then? I asked. "No, they're not selling it, but that's how much it's worth" my wife replied. Two minutes later she told me off for being a pedant!
  13. Good for what? I suppose I am in IT and most of my mates are in IT. So that sounds a rubbish salary. I suppose those who are lawyers or work for Investment banks, would look down their noses IT pay rates and not like the size or location of accomodation you could afford with it. I have another mate who works at citizens advice bureau, he reckons that calculation average salary for London is a stupid idea, because most people earn less than the mean, so median would give a fairer indication of what Joe Public actually gets.
  14. There are quite a few people asking 'aspirational prices'. As for the rightmove graph, I'd like to know where they get their average price figure from as some postcodes seem to have gone up 30 percent from 2007. So I wonder if their sales figures are that accurate. Their seems a slight uptick recently. I wonder if that's a good or a bad thing for a HPC?
  15. They might have an instruction not to pass on low offers. As for the original post, the vendors have a nice central place but not offers? Nice!
  16. Some people like squalor and a short trip to work.
  17. What? Has anybody actually read the article properly? She took three flats and put them back together as a decent sized house. If you're looking to make money out of property, you find a decent sized house and turn it into three flats. Not the other way around. Or did she want to sell to some rich russian for mega bucks? I don't understand.
  18. It beats me. Someone posted sales figures for CB1 and N1 on here yesterday (historically very low). And I couldn't work out how many are still in business, especially when you take into consideration the overhead of having an office. It can't be them encroaching on other patches, because that would mean others would be doing the same to then. And it'd balance itself out.
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