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House Price Crash Forum

Gwailo

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Everything posted by Gwailo

  1. I actually work in 'Security Management' for a very large Government owned Corporation here in Hong Kong. As you are aware, there are security concerns these days, (even in Hong Kong), so this area is now in high demand, particularly with Insurance companies requiring proper emergency procedures etc. Anyway, Dr. Bubb........we both should have bought in HK after SARS, it would have been very profitable indeed! (Maybe too late now, any views?). Regarding the suguestion about moving to South East Asia, that is in fact on my agenda (Malaysia) which is stable, safe and cheap! (compared to the UK & HK of course). I was very interested to hear the comment about Brits in Spain prepard to just walk away from any potential negative equity situation 'back home', makes you wonder if there are more Brits planning to sell up now and move abroad......mas exodus perhaps? Cheers.
  2. Ah, but here in Hong Kong we only pay 15% Tax and there is no VAT, TV Licence, Community Charge etc. Plus the fact that salaries in my profession are far higher here than in the UK.....all adds up to the UK being too expensive an option to move back to. No, my point was would people living in the Uk serious consider leaving to move abroad to a better (and often cheaper) quality of life? Just throwing a question into the forum for a change. Cheers, what it like in Estonia then?
  3. I have been reading this forum for sometime now and it is obvious to me that 'sentiment' in the UK has now changed, in that many more people on this forum are convinced there is now a market correction underway. My question is, if the market really falls.......all well and good! However, if prices remains high, (too high for FBTs at least), how many of you would just give up on it all and emmigrate out of the Uk to start a new life aboard? I live in Hong Kong and I now know I could not currently afford to move back to the UK and purchase a property, not that I have any such intention to move back. Look forward to any views.
  4. Well, I live in Hong Kong and I can tell you there are still adverts every so often in the English Language press offering new build flats for sale in London. That tell me that the UK market has 'dried up' and the developers are still hoping ,(praying more like), that People in HK & other parts of Asia haven't heard about the bubble in the UK property market. Time will tell of course, but no expats are buying property in either the UK, Australia or Spain anymore........wonder why not eh? Cheers.
  5. I have a question for all. With the baby Boomers coming up for retirement now, it can be expected that many will be withdrawing funds out of stocks and even selling property to move overseas etc. Will this hugh number of retirees cause a fall in World Stock markets, (in addition to flooding the mnarkets with property for sale), are there enough Generation Xs around to sustain the current Stock prices or are we all in for falling markets across the board? I ask this because I face a choice, either keep my wealth (Off-Shore pension funds etc) in Unit Trusts or just stop paying into these any more and just go for 5% Savings Account. All views are appreciated. Cheers.
  6. Mate, Now I am not sure if you have actually just purchased your property in Florida, or you are just repeating what the salesman has told you.........but things are as rosy over there as you make them out to be! I have got a freind who has just done exactly what yu have mentioned and his place is also within minutes drive from Disney, however, he is reporting a very different story than the one you are descibing. Firstly, prices are NOT rising there at all, in fact you would struggle to sell any second hand property because the vast majority of buyers want Brand New, mainly because the developer will add-in new carpets, furniture etc (although I know you pay for a package of these things). Secondly, the rental income is not as you described, there are many weeks where there are zero tenants and he has to fund the property costs on your own acount. Thirdly, he has to pay US$250 per-month for Florida Property Tax, regardless of if the place is being rented out, this is in addition to the US750 per-month he has to pay for the agent fees, cleaner fees, pool cleaning, garden maintenance etc, etc.......anyway it is expensive! The bottom line, mate, is that he is pretty fed up with his 'place in the sun' and he is trying to sell it.......hard cos there are no buyers! I wouldn't be so arrogant if I were you. Cheers, but good luck.
  7. Ah! The great 'Capitalist Conspiracy Theory', which in fact I personally believe is actually true! Frankly speaking, if I were a fresh graduate these days, life would be rather daunting eh? What have they good to look forward too, Student Debts (few thousand quid at least), stupidily high property prices, (unaffordable at the current rates), mounting Credit Card Debts (should they ever decide to buy anything). Not to mention, rising taxes (i.e. National Insurace), higher Community Charges, higher costs of living etc etc., Is it any wonder why people want to emmigrate out of the UK? Cheers.
  8. One of these days the UK holidaymaker will rediscover Germany. Lets hope not eh? (No offence intended).
  9. Paddy, By the way that is my nick name too, (my Dad is Irish). Anyway, many thanks for your post, I did take a look at that 'Economist' article you mentioned (found it on this site!). Doesn't look too good does it eh? I will probably go with your advice and stay 'cash' for the time being at wath the Irish market closely. Any predictions on how much prices could fall? Cheers Gwailo (AKA Paddy)
  10. I am interested in Irish property prices because I am planning to buy there in about 2 years time. (Not in Dublin though, most likely in a rural part of Co. Cork). Does anyone have any views on the Irish property market and any ideas where things are heading, in say 2 years time? All comments much appreciated please. Cheers
  11. If Kirsty is so concerned that this web-site is likely to cause a 'panic in the property market' and therefore create a crash.......why doesn't she establish her own counter web-site (e.g. housepriceincreasingforever.co.uk). That way she and all those who support the view that there will not be a 'market correction' can then argue their case accordingly. It would be ironic that they would perhaps be called irresponsible for 'talking up the market' by encouraging people to invest in property at a time of sky high prices, when there are strong inications of a correction soon. I live in Hong Kong, where property prices fell by 60-70% in value after 1997 and I wasn't convinced by Kirsty's argument.......she has no argment. I did note, however, that she was 'angry' and almost 'speechless' because she clearly does not want anyone to talk down the market in anyway. This is, after all, a market and at the end of the day property prices will be subject to market forces. Good luck to all!
  12. Muppet, Everything you have mentioned makes perfect sense to me! Why stay in the UK along longer than you have to, and France is as good a place as any other. I am in a similar situation as yourself, except I live/work in Hong Kong (where I rent) and i will continue to remain here for work. Long term, I plan to buy a place in Ireland, have it all paid off and then re-locate sometime if the future subject to finances allowing........same as yourself but different countries. Ireland is interesting in that there is no Community Charge or Rates as such, quids in eh. Cheers & good luck!
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