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dryrot

Location Location Location (26/9/13

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Hi

(there's usually an L3 thread?)

Anyway last night's was howlingly funny. 2 sisters with ~200k in Reading, Berks. Unbelievably Kirstie recommended half of a council house in Wokingham. Luckily they were outbid but I know the area well. It's by no means a war zone but is this really a good purchase for 2 20something girls?

http://www.rightmove.co.uk/property-for-sale/property-26809371.html

The other couple were fun too. Its always great to have £450k to spend and there's still nothing.

Lots of close-ups with Phil in "negotiation mode" - ooh, tough! :)

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That's what giving out credit like confetti does to the market.

Giver everyone a million pounds credit @ 0%, then the cheapest flat will be a million and the most expensive property in an area will be around 1.1 million.

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The house the couple chose was not in West Wycombe - it is in Sands, one of the less salubrious areas of High Wycombe, and about a mile and a half from W Wycombe. W Wycombe is a nice enough village although it does have the A40 running through the middle of it. That sweet shop is probably 30 mins walk from the house they chose.

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That's what giving out credit like confetti does to the market.

Giver everyone a million pounds credit @ 0%, then the cheapest flat will be a million and the most expensive property in an area will be around 1.1 million.

Not according to Tory MP's who reliably inform me that rising prices "increases supply." :lol:

"But, but the builders won't build, and the banks won't lend if property prices fall."

Edited by aSecureTenant

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Christ on a bike, I think prices are mad enough in my neck of the woods. 200K for a two bed ex council house.

If they were at that level around here I'd leave the UK. (again)

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The house the couple chose was not in West Wycombe - it is in Sands, one of the less salubrious areas of High Wycombe, and about a mile and a half from W Wycombe. W Wycombe is a nice enough village although it does have the A40 running through the middle of it. That sweet shop is probably 30 mins walk from the house they chose.

Thanks for this. Its always good to have someone who actually knows the area, First tume its happened to me (Wokingham portion) and was an eye-opener.

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Plenty of propaganda for the Market. Last week Kirsty threw a strop on a differing couple in Birmingham...'in six months these properties will have gone up and be out of their price range'. Nice plant in the conscience of the viewers.

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Plenty of propaganda for the Market. Last week Kirsty threw a strop on a differing couple in Birmingham...'in six months these properties will have gone up and be out of their price range'. Nice plant in the conscience of the viewers.

Kirsty could teach Goebbels a thing or two about propaganda that's for sure.

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Thanks for this. Its always good to have someone who actually knows the area, First tume its happened to me (Wokingham portion) and was an eye-opener.

A house that size in W Wycombe or one of the other nice villages would be prob £600 - £700k at least.

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Plenty of propaganda for the Market. Last week Kirsty threw a strop on a differing couple in Birmingham...'in six months these properties will have gone up and be out of their price range'. Nice plant in the conscience of the viewers.

That alone ought to serve as sufficient warning of the pathological unsustainability of UK house prices to deter all but the most foolhardy of buyers.

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That's what giving out credit like confetti does to the market.

Giver everyone a million pounds credit @ 0%, then the cheapest flat will be a million and the most expensive property in an area will be around 1.1 million.

Yes, but then all the leftist economists can say 'it doesn't matter because asset values have risen more than debt'

Then they can sit there scratching there heads when that illusion of wealth evaporates, just as it did in the tech bust, credit crunch etc etc.

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You can rent at, what, 800 pcm in sands according to Rightmove

Putting fair value around the 120k mark

Oh well

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Plenty of propaganda for the Market. Last week Kirsty threw a strop on a differing couple in Birmingham...'in six months these properties will have gone up and be out of their price range'. Nice plant in the conscience of the viewers.

I can't believe the BBC would allow that to slip through. They must have strict guides on investments can go up + down.

Hang on - it's Ch4. But the same thing applies.

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You can rent at, what, 800 pcm in sands according to Rightmove

Putting fair value around the 120k mark

Oh well

120 being 10 years of rent: 800*120 = 96000.

The objection to that old rule of thumb is low low base rates.

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I can't believe the BBC would allow that to slip through. They must have strict guides on investments can go up + down.

Hang on - it's Ch4. But the same thing applies.

Does Krusty have a license to give financial advice? Oh! I forget property prices only ever go up.

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120 being 10 years of rent: 800*120 = 96000.

The objection to that old rule of thumb is low low base rates.

The counter objection being reversion to the mean

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