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House Price Crash Forum


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About FunkyGibbon

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  1. The toilet's so stunning it merited TWO photographs. Just love the blue plastic toilet brush. Worth 550K at least; or £1.99 from your local Poundsaver store. What a load of cr*p.
  2. This takes the concept of open-plan living to a whole new level Take a look at linky for the full details!
  3. I remember the 1990's recession well. I purchased my first home in 1989 at the peak of the house price bubble in East London for £95,000 with a 95% interest-only mortgage. Three years later, I had the house valued by a local agent and was given a valuation of £65,000. As a result, I had £30,000 negative equity and was unable to sell. At that time, thousands of people were defaulting on their mortgages and literally handing their house keys back to the lender in the belief that would be the end of the matter. However, I held onto the property after making some sacrifice in my living standards
  4. I agree with the observations of the OP. My Grandparents lived in a modest 2 bedroom council house in Streatham, South London. It is now up for sale by the current owners at over £300,000 - a sum that could never have been afforded by my grandparents. I grew up in a middle class neighbourhood in North London and the in the street where my family home was, you would be lucky to find anything for less than £1 million - in a normal suburban London street! I also notice that at work, an entire generation of 20-30 year old's are mostly living at home with their parents (after graduating) or in
  5. At £800 Rent pcm, the maximum I would be willing to pay is £180,000 based on the following assumptions: 1) Buy to let tracker mortgage with NatWest 25% Deposit (£45,000) at 4.99% 2) Letting Agent Fees of 10% of Gross Rent 3) Weeks let per year: 48 4) Gross Yield 5% However, you would be gambling that interest rates remain at their current low rate for a considerable period of time and that HPI over the next 5-10 years is positive. Unfortunately, I do not believe that this will happen. If and when inflation picks up and/or the UK loses its AAA credit rating, interest rates are likely to
  6. A dead cat bounce for sure. House prices are still falling in the USA and they're likely to be 12-18 months ahead of the UK in terms of economic trends: Falling in the USA
  7. Have cash and would not buy at the moment. Prices are still ridiculously high and need to fall back to 3 x average income. In the UK in 2008, the average annual salary was £20,801 (source: Office for National Statistics "Annual Survey of Hours and Earnings (ASHE) - 2008 Results" - http://www.statistics.gov.uk/StatBase/Product.asp?vlnk=15187 ). According to the UK Land Registry, the average house price for March 2009 was £152,895 (source: Land Registry House Price index March 2009 http://www1.landregistry.gov.uk/houseprices ). In my opinion, house prices are still 200-300% overvalued and nee
  8. This may merit a new thread but I have a couple of examples of where you look at the details advertised an estate agent and think, "hmm, quite nice and quite good value", but when you do some more research you find some really dodgy aspect of the property the agents HAVE NOT told you about that make you think that the property really is overpriced crap. My first offering is an attractive country cottage in the town of Trowbridge in Wiltshire. The agents details are here: attractive cottage in Trowbridge. However what the agents are not telling you is that the property is 1000ft from one of
  9. There's problem with your link. Try Fantastic City pad in Stratford But hey, it's not fantastic (only fantastically overpriced), it's not in the City (it's in East London), but agreed it is a "pad". 80K for a bedsit in Stratford?
  10. Take a look at 46 Colworth Road, Leytonstone E11. According to Property Bee, the property was first listed in August 2008 with no price reductions. I have plenty of background on this property having lived there for 2 years in 1986-1988 when it was subdivided into bedsits for DHSS tenants. It has subsequently had the partitions removed and for a short period in the 90s was the home of an alternative health therapy practice. The property is located in scenic Upper Leytonstone which is bisected by the snarling M11 link road and cosmopolitan Leytonstone High Road. Crime rates are approximate
  11. Bath estate agents appear to be in denial at the moment. I just picked up a copy of FindaProperty (free every Thursday with the Bath Chronicle) and it's like the House Price Crash never happened. Some examples: Andrews (www.andrewsonline.co.uk) Green Park - 2 double bedrooms - flat - £229,000 (http://www.andrewsonline.co.uk/buying-sell...s.aspx?ID=50404) River Street - (small) top floor maisonette - 2 double bedrooms - £239.960 (http://www.andrewsonline.co.uk/buying-sell...s.aspx?ID=48761) Cobb Farr (www.cobbfarr.com) Great Bedford Street (St James Square) - 1 bed flat - £220,000 (http
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