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HPCwhen?

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Everything posted by HPCwhen?

  1. I pass this site regularly - they've made a total mess by banking soil up around the perimeter, presumably as a 'security measure'. Ostentatious displays of wealth from a couple who have enriched themselves via the public purse is just ever-so slightly sickening.
  2. Hi Guys - walking home today and say this interesting little ad in the window of UPS. "Its all relative" - except if you're a poor FTB who bought at the top, that is Still, it is nice to see 40% drops presented as the received wisdom these days.
  3. Any thoughts on tonight's programme? Good to see Northern Ireland got a special mention! According to Merryn the fact we've fallen 25+% isn't an indication that recovery is around the corner - just a demonstration that our bubble was so huge!
  4. Heard this last night. Stephen Nolan is a complete Ar$e. Merryn, on the other hand...
  5. Really interesting comments all. There's no doubt the news from the housing market has been more positive of late (call it a spring bounce or just concerted ramping by VI's) but the economic news over the past few days has been truly awful. I think this will have an immeasurable impact on sentiment. The long term implications for the UK economy seem so dire. It seems obvious that a big part of our economic growth just isn't coming back soon - or ever - for that matter. In fact, the news has an air of 'finality' about it that might result in just the sort of capitulation amongst sellers that i
  6. No YOUR logic is 'dislodged from reality'. Don't you undertstand that in this market it only takes a small number of forced sellers to adjust prices across the board? Ah, you say, people won't accept these lower prices and they'll just not sell. Fine, but hat doesn't stop their house being worth less. Oh yeah, and they might want to get used to living in the same place for the next 20 years and foregoing job opportunities, families etc. Edit: Typo
  7. I have news for you. First time buyers 'of this calibre' were the lifeblood of the housing market up until 2003-4 until 'savvy' investors moved in. Don't dismiss them just so easily because I have a sneeking suspicion that they're all this market has to fall back upon. Dont kid yourself that property has any intrinsic monetary worth below which it can't fall. Its only worth what someone is willing - or able - to pay for it. So builders wont be able to build property and make a profit at theses prices? Then I guess they'll just have to go out of business. Explain to me MD why land prices wont
  8. Really interesting comments. I just checked out the Northern Rock mortgage calculator. They will lend me 3.4 times max. They are pretty much already operating this lending multiple. Haven't checked out joint figures though.
  9. I agree this is fantastic news - if its true! In my heart of hearts I can't see the Government accepting these recommendations. Wasn't it a condition of the bank bailouts that they resume lending at 2007 levels? Also there seems to be little detail - is this 3 x single income or is it joint? That makes a big difference.
  10. I've heard this from several people lately that the market has bottomed out. I dont see any evidence of this. Sure, sale agreeds are increasing - it is the traditional time of year to think about moving house after all and people can't sit out this market out forever!! BUT there absolutely no evidence of prices increasing. In fact, the type of property that I'm interested in - 3 bed semi in East Belfast - still stubbornly hovers around the 175K mark -and the very few that are selling do so only after months and months on the market leading me to think they're taking considerably less than as
  11. Newsline was great. Vision estate agents are being straight with people - reduce your house by 40% from peak to achieve a sale. Also said that no one can predict when the bottom will be but that he could see 'value' in certain areas. http://www.propertynews.com/brochure.php?r...=1&sort=h2l According to the report this property went for 135K. They were suggesting that this property would have gone for 220K at peak! Where things really that crazy?
  12. I cant see how this will happen. Estate Agents and valuers wont let it and mortgage availability / economic fundamentals wont permit it either! I think we should welcome the increase in sale agreeds - it means the crash is happening faster. Recorded prices dont fall if the market is at a standstill, which in effect it has been over the last 12-18 months. I still fully expect EAs to spin the increase in sales volumes as the market bottoming out but this market wont hit bottom this year or next. Serious people are taking about the possibility both UK and escpecially ROI could default for cryi
  13. An excellent article Winky. More evidence, as if it were needed, that this is not a short blip but a long term market correction. As the recession deepers fewer and fewer people will have the luxury of just sitting it out. Unfortunately.
  14. http://www.propertynews.com/brochure.php?r...=1&sort=h2l This one dropped by 20K today! It's the best condition I've seen to date - most of others are fixer-uppers. It RV is 110K so still a ways to go - but we're getting there.
  15. Hi Manalive. Doccyboy is right - there are a smattering of terraced properties in East Belfast on at RV. This number will only increase as the penny drops for more people. In fact, if I'd recently agreed a terrace here thinking I'd got a bargain I'd seriously begin to reconsider. I wouldn't be surprised if a lot of the recent 'sale agreed' properties fall through. Fallen thru sales = more desperate vendors. Good Times!
  16. 11 Lena Street http://www.propertynews.com/brochure.php?r...=1&sort=h2l I'm sure you could get it for the RV of 72K - if you wanted it that is. 41 Sandbrook Park http://www.propertynews.com/brochure.php?r...=1&sort=h2l Ditto for this one - rateable value 75K . Shame I dont want to live there. I wouldn't want it even if it was 50K
  17. I see more and more small terraced properties on sub 90K in East Belfast. There was a time when I'd jump at the chance but the rules of the game have changed. This housing correction has a long way to run so I'm in no hurry. The truth is, even at these prices these properties aren't really that desirable. I'm not being a snob. Honest.
  18. Most people on this forum could see this crash coming, in fact, I thought it would come way before now - in 2004 believe it or not! How dumb am I? I suspect that most of the folks who invested in TQ would have dismissed us HPC'ers as crazy just 18 months ago! However that was then and this is now. I completely support you guys in all your efforts with the Developer.You're victims of the crazy boom and the inevitable crash - just as much as priced out FTBs. Reading 'TQCONCERNED's is really sobering. No-one should take pleasure from his situation. For whats its worth I think most people on th
  19. This is complete tripe. Our economic problems stem from a having a crap economy founded upon borrowing and spending - all, in turn, based upon house price inflation. I'd love to know when was the last time Planning Service even received an application for a factory or somewhere that actually made things that add value rather than another crappy out-of-town shopping centre offering yet more low-skilled retail jobs flogging cheap tat from China.
  20. Agree 100% Daylight robbery. I'm so glad I didn't get caught up in the hysteria of house buying. I really dont see what the Developer can achieve by pursuing people like this. If they ain't got the readies and cant borrow them then what are they to do?
  21. Agree 100% Daylight robbery. I'm so glad I didn't get caught up in the hysteria of house buying. I really dont see what the Developer can achieve by pursuing people like this. If they ain't got the reaDIES
  22. Popped into the Alliance and Leicester today to enquire what the rate was on my cash ISA - its dropped to 2.5% from around 6% when I opened it earlier last year . I expect it to fall even further from Thursday - maybe even as low as 1.5% if the cut by a full percentage point. At lunch time I went to Northern Rock and signed up to their 1 year fixed rate ISA paying 4% - one of the very few to accept transfers in. I don't expect this deal to be around for long - I just hope they honour the rate as it takes 4 - 6 weeks to transfer money in. I've been assured they will but we'll see. Anyway, i
  23. "My bank balance is this big because I'm a savvy property developer"
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