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cypher007

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a work collegue, in another office to me, has just sold her house and padock for a small amount over the 2007 price they paid for it. do you want to know how, because another person from down south has come up here with more money than sense. like the "what recesion" thread, i just cant see how this recession has even touched people on the £40k a year and up scale.

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a work collegue, in another office to me, has just sold her house and padock for a small amount over the 2007 price they paid for it. do you want to know how, because another person from down south has come up here with more money than sense. like the "what recesion" thread, i just cant see how this recession has even touched people on the £40k a year and up scale.

So to keep house prices where they should be - at the glorious 2007 levels - people should be forced to move outwards from central London.

they move out 5 miles - and buy a house at 2007 levels from people who move 5 miles further out again and so on until we reverse the Highland Clearances.

The Central London houses will of course be moved into by rich foreigners who recognise that London property is the only way to store wealth.

This way house prices are kept at good high levels and everyone gets to move, simples.

Edited by maxdiver

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a work collegue, in another office to me, has just sold her house and padock for a small amount over the 2007 price they paid for it. do you want to know how, because another person from down south has come up here with more money than sense. like the "what recesion" thread, i just cant see how this recession has even touched people on the £40k a year and up scale.

Are you sure they hadn't improved the house?

I sold my house for 5k more than i paid for it in 2007, but not at a profit - i spent 20k improving it, and another 15k or so on stamp duty, fees etc. All told, i think i made a £30k loss on a house that just looking at the Land Registry would appear to have risen in price since 2007.

(or to look at it another way, effectively paid £1,400 pcm to rent it for a few years!!)

Edited by scottbeard

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After 10 years hard graft I sold my freehold pub in 2004, the people that bought it from me struggled for 3 years, eventually managing to offload it. On paper they broke even, but I suspect there were trading loses. The couple that bought it from them were very experienced and spent several thousands of pounds doing it there way, and seemed to do very well. Then they stretched themselves by buying another pub. this proved too much for them so they have been trying to offload my old pub for the last year.

I saw it advertised the other day at an asking price of only 40k more than sold it for.

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I doubt £40K/year will allow you to buy a house with a paddock. A semi if you are lucky.

Most people I know earning that kind of cash (admittedly in London) are definitely showing signs of things being a bit tougher than previously. Often at least one person in the couple doesn't earn quite as much as before due to work drying up which means a few less luxuries like foreign holidays, meals out etc.

Edited by StainlessSteelCat

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a work collegue, in another office to me, has just sold her house and padock for a small amount over the 2007 price they paid for it. do you want to know how, because another person from down south has come up here with more money than sense. like the "what recesion" thread, i just cant see how this recession has even touched people on the £40k a year and up scale.

If your earning that sort of money x2 they have plenty of room money wise, even with high inflation before they would struggle. The basics such as food etc... make up a smaller percentage of their income compared to lose at the bottom of the page scale.

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If your earning that sort of money x2 they have plenty of room money wise, even with high inflation before they would struggle. The basics such as food etc... make up a smaller percentage of their income compared to lose at the bottom of the page scale.

The buying stuff part of it is fine. Just the buying a decent place to live bit is ******ed right up. Still.

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So to keep house prices where they should be - at the glorious 2007 levels - people should be forced to move outwards from central London.

they move out 5 miles - and buy a house at 2007 levels from people who move 5 miles further out again and so on until we reverse the Highland Clearances.

The Central London houses will of course be moved into by rich foreigners who recognise that London property is the only way to store wealth.

This way house prices are kept at good high levels and everyone gets to move, simples.

:):):)

Anthony Steen couldn't have said it better !

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could have been a steal in 2007

And NO-ONE EVER made a loss in a property deal. EVER. (not in a conversation about THEIR house at work, or down the pub)

Edited by Bloo Loo

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There will be anecdotals like this all the way through the current recession. It takes a long-time for most people to change their behaviour and adjust to a change in reality, even then a small percentage (20%) will be unaffected by the economy as they are in government funded jobs like banking.

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I doubt £40K/year will allow you to buy a house with a paddock. A semi if you are lucky.

Most people I know earning that kind of cash (admittedly in London) are definitely showing signs of things being a bit tougher than previously. Often at least one person in the couple doesn't earn quite as much as before due to work drying up which means a few less luxuries like foreign holidays, meals out etc.

It depends where you live. Over here in NI, £40k/year goes a long way.

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Are you sure they hadn't improved the house?

I sold my house for 5k more than i paid for it in 2007, but not at a profit - i spent 20k improving it, and another 15k or so on stamp duty, fees etc. All told, i think i made a £30k loss on a house that just looking at the Land Registry would appear to have risen in price since 2007.

+1

I think this is very common, Krusty & Co told people to pour money into their houses, so they have. They sell for a small paper profit but a significant real loss. IMHO it's a hidden part of the house price crash, Land Registry figures don't reflect the reality of home improvement.

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Are you sure they hadn't improved the house?

I sold my house for 5k more than i paid for it in 2007, but not at a profit - i spent 20k improving it, and another 15k or so on stamp duty, fees etc. All told, i think i made a £30k loss on a house that just looking at the Land Registry would appear to have risen in price since 2007.

(or to look at it another way, effectively paid £1,400 pcm to rent it for a few years!!)

I was going to say you neglected to include the risk free opportunity cost of the money tied up in the house in your effective rent, but then remembered that savings accounts have been paying diddly squat for the past couple of years and banks aren't exactly safe...

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  • 312 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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