davidhpc Posted January 21, 2009 Share Posted January 21, 2009 (edited) I remember clearly mid 90s when ex-metro semis used to go for about £8K in the rough parts of northern cities. Could be heading back there soon? Some cheap guides at Must be Sold Jan Auction next week. £22K for this terrace in Lancs (lot 51) ... is it better than cash in the bank with Gordenron ordering Merv to start up the presses? Edited January 21, 2009 by davidhpc Quote Link to comment Share on other sites More sharing options...
Saberu Posted January 21, 2009 Share Posted January 21, 2009 A house is only as valuable as the area it's in. If the house is already in a horrible place during the boom period ask yourself how bad it's going to be during a long drawn out 10 year depression and how many decades it will take to recover in value after that. Or indeed if it's even sellable in the future. I'd value £20k or even £10k over a house in a place I'd never want to live and whose only tenants would be disgusting benefit scroungers that would wreck the place up. Quote Link to comment Share on other sites More sharing options...
davidhpc Posted January 21, 2009 Author Share Posted January 21, 2009 this is real world BTL with risks and good mathematics, not miracle economics with 125% loans and new build flats, some who were doing this in the 90s cashed out as millionaires in the recent boom gordenron is going to steal your cash through inflation and give it to bankers and scroungers anyway, time to make a move? Quote Link to comment Share on other sites More sharing options...
adamLancs Posted January 21, 2009 Share Posted January 21, 2009 I agree time to invest in BTL. You go first. Quote Link to comment Share on other sites More sharing options...
Saberu Posted January 21, 2009 Share Posted January 21, 2009 gordenron is going to steal your cash through inflation and give it to bankers and scroungers anyway, time to make a move? I never said to hold sterling. The best long term bet at the moment is gold and RMB. I think the reason so many people hate gold on this forum is because it makes the puzzle of what to hold incredibly easy so they dismiss it summararily or missguide themselves into believing it's not a good investment. Quote Link to comment Share on other sites More sharing options...
davidhpc Posted January 21, 2009 Author Share Posted January 21, 2009 I agree time to invest in BTL. You go first. when we get to £10K, i'm in . Quote Link to comment Share on other sites More sharing options...
Ruffneck Posted January 21, 2009 Share Posted January 21, 2009 wasnt someone posting 4k houses in estonia a few months back? id much rather live there than up north , you get a much larger garden as well Quote Link to comment Share on other sites More sharing options...
Bob Loblaw Posted January 21, 2009 Share Posted January 21, 2009 Can remember in Benwell in Newcastle in 2002/03 houses were going for £5k. I also remember the council selling houses for £1 (one pound) to people on the proviso that they lived there for x number of years and kept them in good order. I think they are priced around £50k - £70k now. Quote Link to comment Share on other sites More sharing options...
A_Landlord Posted January 21, 2009 Share Posted January 21, 2009 I agree time to invest in BTL. You go first. Just put an offer of 50k on a 3 bed terraced house in the town centre of a working town out west. I have similar houses renting at 475/month. Money is better out of the bank and making money in rent. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted January 21, 2009 Share Posted January 21, 2009 when we get to £10K, i'm in . They can go much lower. Put your hands up for Detroit prices. Quote Link to comment Share on other sites More sharing options...
workingnomad Posted January 21, 2009 Share Posted January 21, 2009 I agree that one is better off investing in BTLs rather than keeping it in a bank, thats my plan anyway. Quote Link to comment Share on other sites More sharing options...
Basildon Bond Posted January 21, 2009 Share Posted January 21, 2009 I agree that one is better off investing in BTLs rather than keeping it in a bank, thats my plan anyway. fair enough, don't say this site didn't warn you. Quote Link to comment Share on other sites More sharing options...
renterbob Posted January 21, 2009 Share Posted January 21, 2009 They can go much lower.Put your hands up for Detroit prices. My hands up. Detroit prices are dropping further. Recently one went for 25. That's 25 dollars, or 2500 cents. Quote Link to comment Share on other sites More sharing options...
bricor mortis Posted January 21, 2009 Share Posted January 21, 2009 (edited) For your interest.........Swilly / North Prospect in Plymouth Devon. 1997 asking prices on semis as low as 8500 to 9000 2008 asking prices up to 100,000 + Unsurprisingly they are not selling. I have been wondering what the bottom of the market price will be. 8500 ? hard to believe, but when unemployment goes bad the cheap parts of all cities will be hit hardest. Edited January 21, 2009 by bricor mortis Quote Link to comment Share on other sites More sharing options...
the-sign-jacker Posted January 21, 2009 Share Posted January 21, 2009 why go into BTL when you can make 25% plus just buying gold or currencies without lifting a finger ? Quote Link to comment Share on other sites More sharing options...
the-sign-jacker Posted January 21, 2009 Share Posted January 21, 2009 ok. well you have to lift a finger and move a mouse wheel, but thats all. Quote Link to comment Share on other sites More sharing options...
PopGun Posted January 21, 2009 Share Posted January 21, 2009 In the 90s, you could by a whole street on an infamous North Hull sink estate for less then £30k!! Three years ago, ONE of those same houses sold for £80k. Quote Link to comment Share on other sites More sharing options...
tahoma Posted January 21, 2009 Share Posted January 21, 2009 No price falls, just stagnation. I've said it before, I'll say it again. Sigh, I miss the bulls... especially CO, who was very good at backing up his stupidity with lots of evidence. Quote Link to comment Share on other sites More sharing options...
R K Posted January 21, 2009 Share Posted January 21, 2009 I remember clearly mid 90s when ex-metro semis used to go for about £8K in the rough parts of northern cities. Could be heading back there soon?Some cheap guides at Must be Sold Jan Auction next week. £22K for this terrace in Lancs (lot 51) ... is it better than cash in the bank with Gordenron ordering Merv to start up the presses? You'd probably recoup your capital in around 5 years. After that it's free money. So long as it rents. There are plenty of identical houses in better Northern towns selling for £150k+. £22k almost looks cheap. Quote Link to comment Share on other sites More sharing options...
Laura Posted January 21, 2009 Share Posted January 21, 2009 The cheaper the house the more you will resent the council tax levied on it & I still say (& will still get laughed at) that there will be property with council tax higher than its 2012ish? purchase price. I can go back to the early 60s with seaside Scottish houses at £30. This 'every house is an investment' twaddle is not the historic norm for Britain, & it's a lesson that will be slowly & painfully learnt Quote Link to comment Share on other sites More sharing options...
blankster Posted January 21, 2009 Share Posted January 21, 2009 There were houses on Tees-side for £15K - £20K even during the boom. Quote Link to comment Share on other sites More sharing options...
walker127 Posted January 21, 2009 Share Posted January 21, 2009 when we get to £10K, i'm in . Bought my bunglaow in Chiang Mai, Thailand 3 years ago for £8500...nice area and nice weather. As an added benefit back then £1 would buy 70 baht, now it is 48 baht. so my house has gone up to £12400 even though the price in Thai Baht hasn't moved. Still get paid in sterling and have to change it to live there so not gaining anything really. Quote Link to comment Share on other sites More sharing options...
DementedTuna Posted January 21, 2009 Share Posted January 21, 2009 Eh by gum, it's be grim oop norff. Quote Link to comment Share on other sites More sharing options...
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