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House Price Crash Forum


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About Wurzel

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  1. I'm also in north Somerset NFT, I just dont believe the stats coming out from the VI, what I do know being very close to several EA's is that business is bad, very bad, people are still in denial however in general in this area.
  2. The situation will be very different this time, I remember completing on my first flat just as the Miras rules changed, there was still plenty of activity in the south west for another 12-18 monthes before it stopped dead. With the better mobility and media information access this time there will not be this time lag, last time it started in London and filtered through to the regions up to two years later.
  3. Coffee companies are NOT a good investment in the medium to long term, coffee consumption has been declining year on year throughout USA and Europe. Apparently people are becoming more health concious, fruit smoothies etc. I considered getting a franchise for one of these clone coffee shops last year, looked into the financials and it was ona knife edge, high margins but low volume, starbucks and the like are yesterdays news, dont recommend as a future investment.
  4. Theres a sliding scale i think, this OO must be in major financial difficulties to forgo the dicount they got, that is unless this propertry is worth 60K by next year, SELL SELL SELL.
  5. Bucaneer is quite right, this is an import from USA big business, I used to work for a component broker in Slough, salesman were employed based on how 'hard they wanted money' those in debt or had large mortgages were the prime candidiates. I got out of this brainwashed culture after becoming disalusioned with all the high fives and bell ringing after getting phone deals, managers had watched 'the boiler room' too many times me-thinks. Michael Moor sums it up well, the jist from one of his books is, 'Accept that you will not become a multi-millionaire by working all the hours, and buying into this culture, only 0.5% of people do, these are the people wanting you to espire to this goal. Accept that you will at best have a nice house and a holiday or two a year, spend the rest of the time with your children and spouse, you will be a much happier person' . Right on
  6. The Bulgarian market depends on them entering the EU, along with Turkey, recently with the No votes from France etc there has been widespread reporting that there is little chance that the main players in the EU will allow any more countries to join any time soon. Imagine Bulgaria outside of the EU in at least the medium term, I certainly wouldent invest there, crap economy, corruption, wouldent touch with a bargepole.
  7. Hmm, thats interesting, there was a piece in the Daily Mail this morning headed 'house prices on the way up', they stated that the report from the ODPM was going to show that HPI was rising and would be 12%, based the headline on this and a property website comments. With Journalism like this what hope is there for unbiased reporting.
  8. The graph of HPI against residential yields is very interesting, based on past performance when house prices hit the sh1t and bottom out rents will climb to thier highest at this point. It would seem that renting now is very cheap but costs will climb in the coming years as HPI reduces, good news for landlords I suppose, trouble is when they want to buy more stock they will have gone into negative equity. doh.
  9. Your dead right Fred, it IS only a matter of time, you and me both know that the days of the EA are numbered, my wifes an EA, several of my friends are EA's, they are all looking for an alternative to this business. The writing has been on the wall for some time, there are issues to be addressed, on both the vendor and the buyer side, however someone will come up with solutions that the general public will be happy with. Most vendors will be happier dealing with your average person in the street, as long as they have been vetted, than your average EA, it was the philosophy that built Ebay, that hasent done so bad has it? Maybe you are right, that an EA will save you net 2%, still no excuse for the sharp practices that go on, if the profession had behaved a bit more professionaly then the fee's charged would not have been an issue with your average man in the street. Too late now, your going the way of the dodo mate, my wifes accepted, shes moving to a new job, suggest you do the same before you have no choice.
  10. But TTRTR the majority of this inflation was in the second quarter of 2004, at the peak, those days are long gone, the Annual HPI has and will continue to drop off in the next few month's. One things for sure there has been, and will continue to be inexperienced FTB's or BTL muppets that will buy at all costs, more fool them.
  11. Shut the M5 motorway and the new Newquay airport, then see how long house prices remain at 11 x income.
  12. As happened after 1990, when prices nationally drop or reduce relative to current earnings fundamentals kick back in, there is relativly little non-seasonal employement in the south west, this makes the current prices unsustainable. There will always be people wanting houses for weekend use, however the demand for investment property will reduce, when there is less money available a holiday cottage is the first thing to go, especially if it is not increasing in value. I love the west country, thats why I live here, however if I wanted to invest money in property it would be around areas of high employment , which the SW is not, how many londoners would buy a holiday cottage if they thought the price would not rise, £200k for your average weekend retreat buys a lot of nice holidays abroad. In 1990 I remember looking around a newbuild starterhome, the agent realising that I was local, AKA Poor, sarcastically shouted over the busy office "that ones £2.50 and the one next door is £4.00", wan;ker. Those houses were worth 40% less five years later. What goes around comes around.
  13. God those flats, sorry appartments are small, the whole living and dining area can only be 2.5x3m square, I thought I had seen everything in the last 1990 boom, broom cupboard in chelsea for £30k, but this goes over and above that. This housing boom deserves an A+ for effort, the buyer of that flat has my pity.
  14. My friend owns a caravan park in Cornwall, a brand new out of the box 3 bedroom static is 18K sited, with just ground rent to pay which most people cover by renting out to holidaymakers for six months of the year. SO NO THIS EPSOM FLAT PACK TAKEAWAY IS NOT SUCH A BARGAIN.
  15. Assuming no more than 30% of the population jump ship and work in the public sector, only provide products and services that people need not what they want.
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