First Time Buyers - Hang On - Don't Buy

[FTB]

I've been watching this pile of sh1t below for a month now, a first floor flat, reduced down to £120k (!!) for a quick sale (!!) - multi agent. It's in an awful location too, I wouldn't even rent it yet alone want to own it!

"*REDUCED TO SELL* NO ONWARD CHAIN *"

I'm guessing a small time BTL opting out..?

Come on, 120k for that! We need some sanity back in this tulip market.

No doubt some mug will buy it eventually.

http://www.rightmove.co.uk/viewdetails-492...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-702...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-806...pa_n=1&tr_t=buy

[Elizabeth]

I've been watching this pile of sh1t below for a month now, a first floor flat, reduced down to £120k (!!) for a quick sale (!!) - multi agent.  It's in an awful location too, I wouldn't even rent it yet alone want to own it!

"*REDUCED TO SELL* NO ONWARD CHAIN *"

I'm guessing a small time BTL opting out..?

Come on, 120k for that!  We need some sanity back in this tulip market.

No doubt some mug will buy it eventually.

http://www.rightmove.co.uk/viewdetails-492...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-702...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-806...pa_n=1&tr_t=buy

<{POST_SNAPBACK}>

If it were the whole house it might be worth it.

[apom]

87k !!  I dream of any type of property for 87k.

In my area that would be up for 160 - 180k !!!

<{POST_SNAPBACK}>

Same here.. and i live in Devon..

Lowest wages and amongst the highest house prices in the country..

90% of people in the first time buying age bracket here earn under £20,000 a year..

I wonder how hard its going to hit..

we have had first ime homes.. flats.. rise from £35,000 to £140,000

That is 4 times increase..

In London prices have about doubled..

you want to see a crash..

Look at sunny devon..

[eric pebble]

Same here.. and i live in Devon..

Lowest wages and amongst the highest house prices in the country..

90% of people in the first time buying age bracket here earn under £20,000 a year..

I wonder how hard its going to hit..

we have had first ime homes.. flats.. rise from £35,000 to £140,000

That is 4 times increase..

In London prices have about doubled..

you want to see a crash..

Look at sunny devon..

<{POST_SNAPBACK}>

Thanks for that Apon

I know that even in v "desirable" Dorset - houses are sticking very very stubbornly -- many many people in that neck of th woods - andover into Wilts, Somerset & Hants -- same thing. Only those with what they call "realistic" prices are selling HA HA AH!!!!! "REALISTIC" !!!!! i.e 25% below asking price minimum...

[eric pebble]

Eric

Are you hoping for an incentive to purchase? Perhaps this Polish idea might appeal?

http://uk.news.yahoo.com/13092005/323/poli...-customers.html

horace

<{POST_SNAPBACK}>

Not something we have seen yet here in the UK - but, who knows, maybe this will be taken up? Watching "Spencer Michael" last night shows ANYTHING is possible - & people are staggeringly gullible.... - http://www.housepricecrash.co.uk/forum/ind...showtopic=15598

Er..... Horace - what planet do you come from? Mars?

[eric pebble]

Not something we have seen yet here in the UK - but, who knows, maybe this will be taken up? Watching  "Spencer Michael" last night shows ANYTHING is possible - & people are staggeringly gullible.... - http://www.housepricecrash.co.uk/forum/ind...showtopic=15598

Er..... Horace - what planet do you come from?  Mars?

<{POST_SNAPBACK}>

...because -- anyone who saw BBCs's programme last night on Spencer Michael - must have thought he was from another galaxy!!! How depressing or WHAT!!?? How can people be conned like this!!??? - http://www.findarticles.com/p/articles/mi_...17/ai_n14877496

[eric pebble]

Well Horace -- I'm sure you're aware that - just becasue you've got a couple of people coming round to view yr property - that means NOTHING until their money is in your bank account!!!  Wait for that ............ I hope you have some patience -- because I know of 12 people personally who have had several offers - only for them to fall flat........  i.e. Pull outs!!  This is a rising phenomenon....And I have heard from all sorts of good sources that "Pull outs" are occuring in the thousands.... right across the UK......

<{POST_SNAPBACK}>

so much gloom out there -- Panorama on Sunday night will reveal tip of iceberg -- but they probably won't tell the whole truth -- whole mess is essentially result of Credit Boom - aka FRAUD -- on back of World's Biggest Ever Pyramid Selling Scam - the housing market.

[Guest horace]

£10 millon, Eric this is an absolute snip.

Get your bid in quickly.

http://news.bbc.co.uk/1/hi/england/somerset/4253516.stm

horace

[Guest The dude]

Yes whatever Enoch, time to calm yourself down.

'king hell, I'm accused of being a neo-socialist by one poster, and a neo-Nazi by another. 

I'm all for having babies, but to post on forums saying "I've got a baby, and I can only earn 10K and can't afford anywhere to stay" is a joke.  You couldn't have afforded a "family sized property" before this housing boom either. 

And munimula, you lumping djchewmacca in is a "chav" only shows your own colours.  He's not trying to get state aid, he's trying to get his own place.  Time to get off your high horse.

Good luck though, am sure it'll all come right in the end! 

I'm a prospective FTBer, but I try and keep a grip on life, rather than obsessing about having my own property. Life's more fun that way.

<{POST_SNAPBACK}>

"'king hell, I'm accused of being a neo-socialist by one poster, and a neo-Nazi by another."

I'l just accuse you of being slightly misguided...but that's ok, remember it's not your fault. Don't worry about it....you'll be ok in the end. Keep the faith...

[Guest The dude]

i dont recall this golde age

pre thatcher a very high %  of "common "people wre in council housing.

thatcher pprovided an oportunity for many (eg my parents in law) to own their own place . without the  right to buy they would have been council tenants all of their life.

agree with the acceptable to be poor coment. we were brought up in a working class northern victorian terrace environmnet.

none of out neighbours had much, yet everyone seemed content.

part of todays stress is the fact too many people consider themselves failures if they cannot keep up with the expceted modern possession and debt induced lifestyle

<{POST_SNAPBACK}>

Aww...come on...Thatcher was a bitch...

[Elizabeth]

Is this a sad attempt to make it look like a real house?

http://www.rightmove.co.uk/viewdetails-461...a_n=11&tr_t=buy

[theChuz]

"'king hell, I'm accused of being a neo-socialist by one poster, and a neo-Nazi by another."

I'l just accuse you of being slightly misguided...but that's ok, remember it's not your fault. Don't worry about it....you'll be ok in the end. Keep the faith...

<{POST_SNAPBACK}>

Neo-from-the-matrix next ... take Kams avatar pill, all will be well.

EDITED:

btw im amazed at the life of this thread , it will not go to sleep without a fight

Edited September 17, 2005 by theChuz

[the don]

Aww...come on...Thatcher was a bitch...

<{POST_SNAPBACK}>

Really?

the best post war prime nister we've had.

whether you like it or not, britain is now 90% thatcherite.

clearly made some mistakes but got a lot right.

biggest mistake was standing down too soon.

the don

[Elizabeth]

Really?

the best post war prime nister we've had.

whether you like it or not, britain is now 90% thatcherite.

clearly made some mistakes but got a lot right.

biggest mistake was standing down too soon.

the don

<{POST_SNAPBACK}>

Standing on the brink of the next HPC, all I can say is, look where its got us

[the don]

Standing on the brink of the next HPC, all I can say is, look where its got us

<{POST_SNAPBACK}>

clearly the late 80s hpc was a big problem.

thatcher would argue with only partial justification that it was the free market and individuals have to take responsibility for their own lives and make their own decisions.

to a large degree that is what thatcherism was about.

after the crash and post thatcher, majo0r with lamont and then clarke puts things right.

so why are we heading back along the same track?

well people have short memories and new labour is devoid of creative ideas to improve britain. 'instead they have supported the debt driven economy to allow them time to try and implement their loony socialist theories, as well as feathering the nest of themselves and the cronies

more pain to come as history wil repeat itself

the don

[lowrentyieldmakessense(honest!)]

Really?

the best post war prime nister we've had.

whether you like it or not, britain is now 90% thatcherite.

clearly made some mistakes but got a lot right.

biggest mistake was standing down too soon.

the don

<{POST_SNAPBACK}>

she got some things right but i don't think she did much for uk manufacturing

- not that anyone else has either

- maybe we can survive by selling life assurance to the Chinese

[Elizabeth]

clearly the late 80s hpc was a big problem.

thatcher would argue with only partial justification that it was the free market and individuals have to take responsibility for their own lives and make their own decisions.

to a large degree that is what thatcherism was about.

after the crash and post thatcher, majo0r with lamont and then clarke puts things right.

so why are we heading back along the same track?

well people have short memories and new labour is devoid of creative ideas to improve britain. 'instead they have supported the debt driven economy to allow them time to try and implement their loony socialist theories, as well as feathering the nest of themselves and the cronies

more pain to come as history wil repeat itself

the don

<{POST_SNAPBACK}>

Well to my mind they have just let Thatcher's Britain continue to swing, with a few minor reforms to health etc that have been worse than useless (but ALL public/private sector 'initiatives'). Labour/Tories doesn't matter who they are. Any control of the market goes against the grain of the free (anarchist) market. Its not like Thatcher would have put the (socialist) breaks on. And the history that is repeating is the history of thatcherism. As for feathering nest, I don't recall the tories had a great deal of concern about that either (Westminster Council?)

People definitely have short-memories though. I'll give you that.

[the don]

she got some things right but i don't think she did much for uk manufacturing

- not that anyone else has either

- maybe we can survive by selling life assurance to the Chinese

<{POST_SNAPBACK}>

well she let lame duck industries go, but many flourished when the union power was reduced.

when labourt took office in 1097 uk had a balance of trade surplus ie we exported more goods than we imported.

not any more

the don

[Elizabeth]

Man! Thats only 10 years after the Doomsday book Sorry Don. Bad joke.

[eric pebble]

£10 millon, Eric this is an absolute snip.

Get your bid in quickly.

http://news.bbc.co.uk/1/hi/england/somerset/4253516.stm

horace

<{POST_SNAPBACK}>

OK Horace - you put in £6mill - I put in £4mill -- you have majority share; is that a deal? Provide bank refs of £6mill up front.

[eric pebble]

But an average wage should buy a average home - doesn't matter if your a FTB or not.

It's the average that's important, true FTB's of past were on a less than average wage.

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Absolutely SPOT ON Kinesin!!! If it IS the "AVERAGE" wage - their is an "AVERAGE" houseprice!!! They sit side by side!!! - they should relate!!! Otherwise it's NOT "Average"!!!! It's just a big lie!!!!!!!! Of course - that's just what it is --- a HUGE, BIG LIE -- -the World's Biggest Ever Pyramid-Rip-Off-Selling-SCAM

[eric pebble]

Standing on the brink of the next HPC, all I can say is, look where its got us

<{POST_SNAPBACK}>

It got us to become a nation of deeply deeply unhappy and angry people - mostly younger people - who see no future....

[Michael]

but how's the ruddy thing going to come crashing down without dragging down the rest of the economy with it?

[eric pebble]

but how's the ruddy thing going to come crashing down without dragging down the rest of the economy with it?

<{POST_SNAPBACK}>

No gain without pain Michael. It's clear - successive Governments - especialy NU labour - just use & allow their friends in the Property Industry to use the housing market as a tool to vamp up the economy big time - .... just to gain and stay in power. The downside of this Giant Pyramid Selling Scam is - that we all pay the HEAVY HEAVY cost of the AFTERMATH - the Aftermnath of ANY Pyramid Selling Scam is always deeply, deeply painful for the loosers. The winners are the seasoned Nu - Labour Friends and their cohorts who know exactly how to play it - buy in early - and abandon ship overnight when the peak has been reached - but -crucially - keep the message on full volume that the boom is still on. It is all deeply cynical..... And on this occasion - Tone Babes [blair] wasn't let in on the secret - & he and his (slightly mad) wife have walked into the trap like the lemming he is...... twice!! - in Bristol and London....

[North London Rent Girl]

well people have short memories and new labour is devoid of creative ideas to improve britain. 'instead they have supported the debt driven economy to allow them time to try and implement their loony socialist theories, as well as feathering the nest of themselves and the cronies

<{POST_SNAPBACK}>

Erm, no nulabour fan me, believe me, but wasn't it Thatcher who liberated the credit market in the 80s? Poor old lawson trying desperately to control inflation by putting interest rates up to - what was it, 16%? - while the newly be-credit-carded nation pumped more and more money into the economy with every swipe of the visa? This government's shit, Thatcher was shitter. Now, hang on, wasn't there someone in the middle there? Oh well, can't remember. Never mind.