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munimula

Blair - The Biggest Property Loser

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Article in this weeks MoneyWeek talking about Natasha Kapwhatever unable to sell the house she bought in 2001 for the same amount, it being a buyers' market etc. Also quotes the example of the Docklands flat reduced £180K and still no offers.

Article finishes with this gem;

Still, the biggest losers in the property game are as ever the Blairs. Their sole success so far has been Mr Blair's constituency home in County Durham: bought for £30K in 1983, it is now worth £150K. However the £3.65m townhouse in London that they purchased in Sept has already fallen in value by £300K at the very least and the two flats bought by Cherie Blair in Bristol a few years ago have fallen in value by £60K since the purchase. The Blairs had been hoping to sell the flats to cover the astronomical costs of the London house, says the Daily Mail. However, the flats are part of the 'Panoramic' building - which is next to a petrol station and a nightclub - and with buyers able to be as picky as they like these days, they've had no luck yet.

Bit worrying really that this is the man that is in charge of running our country, he hasn't got a clue...

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Article in this weeks MoneyWeek talking about Natasha Kapwhatever unable to sell Article finishes with this gem;

Bit worrying really that this is the man that is in charge of running our country, he hasn't got a clue...

Blair is like most people, he just 'does stuff' without all the hand wringing and fretting displayed by some on here. You will find he doesnt think about the loss in value as he probably realises the property will over time go through periods of huge price increase, so in the great scheme.. who gives a Monkeys.

Not saying he's right, just that he thinks like most people do, not counting every penny, takes the ups with the downs.

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Blair is like most people, he just 'does stuff' without all the hand wringing and fretting displayed by some on here. You will find he doesnt think about the loss in value as he probably realises the property will over time go through periods of huge price increase, so in the great scheme.. who gives a Monkeys.

Not saying he's right, just that he thinks like most people do, not counting every penny, takes the ups with the downs.

yes, but he's not most people. He'll get away with it unlike the 1000's that are going to get burnt. Just find it interesting that the leader of our country seems to have no concept of the idea that house markets are cyclical and that they weren't going to go on rising. It appears he bought the London and Bristol properties literally at the peak of the market, couldn't have timed it worse.

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yes, but he's not most people. He'll get away with it unlike the 1000's that are going to get burnt. Just find it interesting that the leader of our country seems to have no concept of the idea that house markets are cyclical and that they weren't going to go on rising. It appears he bought the London and Bristol properties literally at the peak of the market, couldn't have timed it worse.

Also, did he not buy the Bristol properties purely as an investment? If so then this shows that he was actually making an attempt to make money which shows he is even more incompetent. Think of the information he must have access to that nobody else gets to see.

Taking the word "property" away from your post title makes it even more appropriate.

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Blair is like most people, he just 'does stuff' without all the hand wringing and fretting displayed by some on here. You will find he doesnt think about the loss in value as he probably realises the property will over time go through periods of huge price increase, so in the great scheme.. who gives a Monkeys.

Not saying he's right, just that he thinks like most people do, not counting every penny, takes the ups with the downs.

i think the point is that as PM he is responsible for making huge decisions that could affect everyones lives. Making an extravagant house purchase at a peak in the housing market is not really a very intelligent move, especially when he plans to retire in a few years time! If he can't make the right decision for himself and his family, how can we rely on him to make the right decision for the rest of us?

and by the way, £360,000 is a hell of a lot of pennies to count.

Edited by marzipan

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Well I think the fact that the Blairs have bought two flats in what sounds like not a great location in Bristol (cant imagine Cherie works there) implies that these two are definte "investments". If one takes into account the fact that they were looking to rent out their london home, and the fact that they can reside in London's No.10 and the fact that they dont need a large house with their kids rather old and off to uni etc. we can also class this as an investment first and foremost.

I personally dont think Tony would be intelligent enough to actually think about investing in property, all Cheries doing, sadly shes also not financially intelligent enough to have looked at it properly. Just goes to show that those in power are no more superior or some kinda superbeings commanding greater mental faculties(I wont comment on ethics!) than the average man.

Edited by Mr_Sminty

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Let's not forget the sale of his Islington house just before the market took off - he lost more on that premature sale than he earnt in his first term as PM!

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Guest absolutezero
Let's not forget the sale of his Islington house just before the market took off - he lost more on that premature sale than he earnt in his first term as PM!

How can he have lost it if he never had it?

It's sentiment like that thet set the HPI going.

"I am rich because my house is worth £300,000 so I'll MEW myself up to the eyeballs."

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His son is at bristol uni and lives in one i believe

TB's son has now graduated.

The area in the immediate vicinity of the flats has gone downhill of late, with a particularly dodgy nightclub opening next door. I'm sure that the fact that a bloke got shot dead by a rival drugs gang after leaving the club didn't help the reputation of the area, either.

http://news.bbc.co.uk/1/hi/england/bristol/4438621.stm

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Blairs like all really rich people won't care about the loss of a milion here or there. Between the 2 of them they have a huge income. And when he quit as PM they are pretty much guaranteed £5m plus a year.

So as Dogbox says they won't give a monkeys. Not because they always believe property will always rise but just because money means nothing to those who are swimming in it.

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Blair is like most people, he just 'does stuff' without all the hand wringing and fretting displayed by some on here. You will find he doesnt think about the loss in value as he probably realises the property will over time go through periods of huge price increase, so in the great scheme.. who gives a Monkeys.

Not saying he's right, just that he thinks like most people do, not counting every penny, takes the ups with the downs.

A loss of £300,000 is ten times what "most people" manage to put away in a pension. That means "most people" would have to work for 495 years just to save what most people save if they, like Tony, took a £300k hit.

As you say, no hand-wringing required :lol::lol:

Edited by Sledgehead

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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