Realistbear Posted August 21, 2010 Share Posted August 21, 2010 http://www.dailymail.co.uk/news/article-1304919/Plight-1-1m-stuck-homes-sell.html Plight of the 1.1million stuck in homes they can't sell By Becky "Rebecca" Barrow Last updated at 1:44 AM on 21st August 2010 More than one million homeowners are trapped with homes they cannot sell, research reveals today. Around 1.1million have tried to move in the last year but have been unable to attract buyers. Their plight can have a crippling impact as homeowners may be desperate for extra space for a new baby or need to move for a new job. Others may be trying to sell to offload a mortgage they can no longer afford. the study by banking giant Santander found the number of 'failed sellers' was nearly double the number who did succeed in getting a buyer. I feel guilty being an HPCer now. * * Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted August 21, 2010 Share Posted August 21, 2010 Headline should read... Plight of the 1.1million greedy gits who are stuck in homes they won't take a haircut on to get rid of Fvck em, let them burn... Quote Link to comment Share on other sites More sharing options...
exiges Posted August 21, 2010 Share Posted August 21, 2010 (edited) When asked why they had not been able to sell their home, the most common reason was a failure to find 'a suitable buyer' or 'an acceptable offer'. I'd have thougth anyone making an acceptable offer would be suitable ! But this REPORT shows houses are staying on the market for less time than a year ago, which seems contradictory (pretty much every other county is the same) Edited August 21, 2010 by exiges Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted August 21, 2010 Share Posted August 21, 2010 350,000 of those are claiming "Help" with the mortgages they cant pay...id wager. Quote Link to comment Share on other sites More sharing options...
Captain Cavey Posted August 21, 2010 Share Posted August 21, 2010 (edited) Mostly bearish comments, apart from this one….. Most people selling a house... do so because they want to move upmarket to another one. They don't ' have ' to sell... and if they don't get a price they are happy with.... they simply take their house off the market - settle back - and... wait. A few people need to sell... and a buyer may get a discount. But - other than this - most sellers are content to wait - to get their asking price. So.... if you are waiting for a house price crash... you'll wait forever.. and simply lose out. House prices have never ' crashed ' .... and they never will for that simple reason. They may go up or down a few thousand... that's just the way of things.... but there are always far more people wanting to buy... from a very limited national housing stock. Most sellers are not desperate to sell.... and can afford to wait... If you want a home... you can't - ever - afford to wait too long. You can dream about a market ' crash '... but that's all it is.... a dream. Dreamers hit red now. - Jack Russell.., Yorkshire..England, 21/8/2010 07:52 Edited August 21, 2010 by Captain Cavey Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted August 21, 2010 Share Posted August 21, 2010 The research comes as would be buyers are finding it very difficult-to obtain a decent mortgage deal without a sizable deposit. the average first-time purchaser puts down a 24 per cent deposit, according to the Council of Mortgage Lenders. With an average property price of around £160,000, this is equal to £38,400, a virtually impossible amount for most people to save. The journalism in this country never seizes to amaze me. If these people find it virtually impossible to find 24% of the house price then how on god green earth are they going to find the other 76% plus interest? As per usual the problem is the deposit size and the mean banks, not the price of the houses. Quote Link to comment Share on other sites More sharing options...
Dorkins Posted August 21, 2010 Share Posted August 21, 2010 I think the cognitive dissonance of 15 years of saturation pwoperdee ramping meeting the reality of her house being on the market for over a year with no viewings is causing her brain to hurt. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted August 21, 2010 Share Posted August 21, 2010 The journalism in this country never seizes to amaze me. If these people find it virtually impossible to find 24% of the house price then how on god green earth are they going to find the other 76% plus interest? As per usual the problem is the deposit size and the mean banks, not the price of the houses. well, thats not quite true. Some would be renters and they would be using their "dead" money to pay the mortgage. When I buy, there will be NO rent to pay. I will of course be living in a much smaller house....then again...holidays will take away the pain. Quote Link to comment Share on other sites More sharing options...
Errol Posted August 21, 2010 Share Posted August 21, 2010 Perhaps what we need is a government scheme to purchase these houses at full price? heh. Quote Link to comment Share on other sites More sharing options...
Mega Posted August 21, 2010 Share Posted August 21, 2010 RB................DO YOU MIND! I just finished Breck-e & saw your post, read it...............& laughed so hard i almost threw up! Mike Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 21, 2010 Share Posted August 21, 2010 The journalism in this country never seizes to amaze me. If these people find it virtually impossible to find 24% of the house price then how on god green earth are they going to find the other 76% plus interest? As per usual the problem is the deposit size and the mean banks, not the price of the houses. Incredible isn't it!?!! These people really do have SH1T for brains.... :angry: Quote Link to comment Share on other sites More sharing options...
Alfie Moon Posted August 21, 2010 Share Posted August 21, 2010 The Daily Mail have really picked up the pace at which they are posting property market related articles recently. There seem to be 2 or 3 every day. Still, at least it provides an opportunity to add readers comments to add in an alternative perspective and analysis of the property market and house prices that will be read by large numbers of people. The DM does have a very high readership. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted August 21, 2010 Share Posted August 21, 2010 I think the cognitive dissonance of 15 years of saturation pwoperdee ramping meeting the reality of her house being on the market for over a year with no viewings is causing her brain to hurt. i would Quote Link to comment Share on other sites More sharing options...
Muskoka Posted August 21, 2010 Share Posted August 21, 2010 The main reason they can't find a buyer is because they insist on an asking price way above any true value! I say let 'em burn Quote Link to comment Share on other sites More sharing options...
grey shark Posted August 21, 2010 Share Posted August 21, 2010 (edited) More than one million homeowners are trapped with homes they cannot sell, research reveals today. Around 1.1million have tried to move in the last year but have been unable to attract buyers. Their plight can have a crippling impact as homeowners may be desperate for extra space for a new baby or need to move for a new job. Others may be trying to sell to offload a mortgage they can no longer afford. the study by banking giant Santander found the number of 'failed sellers' was nearly double the number who did succeed in getting a buyer. [/indent] Homeowners my @rse more like mortgage/debt slaves to their banks , many drowning in a pool of debt of their own making .... good Edited August 21, 2010 by grey shark Quote Link to comment Share on other sites More sharing options...
ShedDweller Posted August 21, 2010 Share Posted August 21, 2010 We should start a charity to help these poor people .. "In 2004 Tarquin and Arabella bought this 2 bedroom house in Kilburn for £250,000, in 2007 they remortgaged it for £350,000 .. Now the house has been on the market for 14 months and they have yet to get an offer over £400,000 .. .. Just five pounds would buy them a copy of "interiors" magazine .. ten pounds would buy them twigs in a vase .. Please help today .." Quote Link to comment Share on other sites More sharing options...
the flying pig Posted August 21, 2010 Share Posted August 21, 2010 We should start a charity to help these poor people .. "In 2004 Tarquin and Arabella bought this 2 bedroom house in Kilburn for £250,000, in 2007 they remortgaged it for £350,000 .. Now the house has been on the market for 14 months and they have yet to get an offer over £400,000 .. .. Just five pounds would buy them a copy of "interiors" magazine .. ten pounds would buy them twigs in a vase .. Please help today .." yup. maybe, uh, n-dubz or someone could bring out a charidee record. a video stacked with teary-eyed pwoperdee investors looking mournfully in EA windows would get the heart-strings twanging and cash registers ringing pretty quickly... Quote Link to comment Share on other sites More sharing options...
concerned_money Posted August 21, 2010 Share Posted August 21, 2010 Mostly bearish comments, apart from this one….. I'd love to ask this chap what will happen in areas with 90% 60+'ers, who is going to buy in places like bournmouth when the oldies go into homes? Quote Link to comment Share on other sites More sharing options...
Dorkins Posted August 21, 2010 Share Posted August 21, 2010 i would Before or after you show her the graphs? Quote Link to comment Share on other sites More sharing options...
grey shark Posted August 21, 2010 Share Posted August 21, 2010 I think at 12 noon today the country as a whole should take a minutes silence for these poor unfortunate homeowners who just a few years thought they were doing the right thing by getting their foot on the bottom rung of the ladder , now the ladder is broken and many have now fallen into the pit of negative equity ..................... HA HA . Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted August 21, 2010 Share Posted August 21, 2010 Before or after you show her the graphs? it would be great if she had a tattoo of the Dow jones on her derriere, that would really get me going Quote Link to comment Share on other sites More sharing options...
winkie Posted August 21, 2010 Share Posted August 21, 2010 Any lender will now only lend money if there is a high chance they will get it back plus interest....little money to be made with bad debt and falling prices. Too many overpriced houses....too few credit worthy borrowers with large deposits and secure employment. Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted August 21, 2010 Share Posted August 21, 2010 I think at 12 noon today the country as a whole should take a minutes silence for these poor unfortunate homeowners who just a few years thought they were doing the right thing by getting their foot on the bottom rung of the ladder , now the ladder is broken and many have now fallen into the pit of negative equity ..................... HA HA . I agree and we all should have a whip round for anybody we know who were unfortunate enough to believe the ponzi scheme would continue to pay out time and time again. It would appear the country has run out of greater fools to keep the game going - shame Quote Link to comment Share on other sites More sharing options...
Alfie Moon Posted August 21, 2010 Share Posted August 21, 2010 In regards to the article highlighted by the OP, http://www.dailymail.co.uk/news/article-1304919/Plight-1-1m-stuck-homes-sell.html the debate and arguments are heating up in the Readers C0mments with some Estate Agents piling in, the usual from TheDailyMale and other pro high and rising house prices. It would be good to see more comments from HPC'ers as well as the giving of green and red arrows as appropriate. Don't let the Estate Agents, and others, get away with their excuses. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted August 21, 2010 Share Posted August 21, 2010 Perhaps what we need is a government scheme to purchase these houses at full price? heh. You have seen the people bleating about having a high speed rail track 400M from their house wanting full price for their house? Quote Link to comment Share on other sites More sharing options...
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