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Timak

How To Make £100K In A Year

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Buy this uninhabitable and unmortgageable house in 2003 for £110k

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=41460220&sale=46921751&country=england

Sell it for £300k in 2012 still uninhabitable and unmortgageable

Put it up for sale in 2013 still uninhabitable and unmortgageable for £400k.

http://www.rightmove.co.uk/property-for-sale/property-41460220.html

If this sells I might actually cry.

How am I supposed to provide a decent house for my family? People seem to have access to sums of money "hard working families" can only dream of. Where are they getting it from?

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Buy this uninhabitable and unmortgageable house in 2003 for £110k

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=41460220&sale=46921751&country=england

Sell it for £300k in 2012 still uninhabitable and unmortgageable

Put it up for sale in 2013 still uninhabitable and unmortgageable for £400k.

http://www.rightmove.co.uk/property-for-sale/property-41460220.html

If this sells I might actually cry.

How am I supposed to provide a decent house for my family? People seem to have access to sums of money "hard working families" can only dream of. Where are they getting it from?

This really is a frightening example. If interest rates had been sensible through the Brown years and remained so it would probably be in the £160-£180k range now. Savers have been robbed blind while spivs, chancers and BTL slumlords have had their pockets filled with gold. What a disgraceful cesspit this country has become.

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Buy this uninhabitable and unmortgageable house in 2003 for £110k

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=41460220&sale=46921751&country=england

Sell it for £300k in 2012 still uninhabitable and unmortgageable

Put it up for sale in 2013 still uninhabitable and unmortgageable for £400k.

http://www.rightmove.co.uk/property-for-sale/property-41460220.html

If this sells I might actually cry.

How am I supposed to provide a decent house for my family? People seem to have access to sums of money "hard working families" can only dream of. Where are they getting it from?

Move north?

For that much you can get a decent house up with the fat pale people.

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And the house the poor fat people up North are allocated with for the same money........

http://www.rightmove.co.uk/property-for-sale/property-33488957.html

West technically but point taken.

To be fair you could buy something like this in Huntingdon(20 minutes away) for the same money

http://www.rightmove.co.uk/property-for-sale/property-39182539.html?premiumA=true

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Bleeding hell, why does it cost so much? Its no where near London or a tube station that services london using the oyster card.

Nice place to live, lots of interesting jobs.

However nowhere near worth the house prices when you look at local wages

The house in the OP is nowhere near the worse value house in the city. It is currently this in my opinion.

http://www.rightmove.co.uk/property-for-sale/property-27619548.html?premiumA=true

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Nice place to live, lots of interesting jobs.

However nowhere near worth the house prices when you look at local wages

The house in the OP is nowhere near the worse value house in the city. It is currently this in my opinion.

http://www.rightmove.co.uk/property-for-sale/property-27619548.html?premiumA=true

Thats just it though...Cambridge is 'nice'...nothing more. Norwich is nice, just as safe, middle class, interesting places, better pubs. Same goes for Lincoln. Both are about 1/3rd of the price! Aside from the universities and a couple of decent streets, Cambridge is pretty meh. I get the impression the last 5 years in Cambridge prices are more international hot money than any real desire from locals to live there.

Edited by Executive Sadman

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In 2003 no one knew what would happen to the price of this house or any other for that matter.

At the same time no one knew what would happen to the price of gold or the price of some shares that have performed very well, both of which would be far easier to make money on than this house.

If you had a crystal ball you would choose shares every time.

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West technically but point taken.

To be fair you could buy something like this in Huntingdon(20 minutes away) for the same money

http://www.rightmove.co.uk/property-for-sale/property-39182539.html?premiumA=true

Er - is Huntingdon so terrible that you can't consider it? Are people fat and pale there as well? :D

400k for a smallish uglyish Victorian wreck in Cambridge (so I guess total cost 700k by the time you're done with everything as it looks like a rebuild while remaining standing) is, well, ludicrous.

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Buy this uninhabitable and unmortgageable house in 2003 for £110k

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=41460220&sale=46921751&country=england

Sell it for £300k in 2012 still uninhabitable and unmortgageable

Put it up for sale in 2013 still uninhabitable and unmortgageable for £400k.

http://www.rightmove.co.uk/property-for-sale/property-41460220.html

If this sells I might actually cry.

How am I supposed to provide a decent house for my family? People seem to have access to sums of money "hard working families" can only dream of. Where are they getting it from?

If you've got 150K deposit from BOMAD or some other inheritance at the moment you can borrow the rest at 2% (e.g. HSBC 2 year fix). Result : the house costs you £1000 a month to buy. A couple of school teachers, for example, could easily afford that. I know ther are risks with interest rates going up and prices falling but a lot of people don't think about that, they're just looking at the up front 'affordability' on the day they take out the mortgage.

There's a lot of talk about help to buy inflating this new stage to the bubble but I think the real problem are these crazy low interest rate FLS backed mortgages that are behind it all. Anyone with a decent deposit thinking of buying is piling in now because even at crazy prices the maths makes it better than renting.

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If you've got 150K deposit from BOMAD or some other inheritance at the moment you can borrow the rest at 2% (e.g. HSBC 2 year fix). Result : the house costs you £1000 a month to buy. A couple of school teachers, for example, could easily afford that. I know ther are risks with interest rates going up and prices falling but a lot of people don't think about that, they're just looking at the up front 'affordability' on the day they take out the mortgage.

There's a lot of talk about help to buy inflating this new stage to the bubble but I think the real problem are these crazy low interest rate FLS backed mortgages that are behind it all. Anyone with a decent deposit thinking of buying is piling in now because even at crazy prices the maths makes it better than renting.

Making it ever harder to up interest rates without nuking the banks.

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If you've got 150K deposit from BOMAD or some other inheritance at the moment you can borrow the rest at 2% (e.g. HSBC 2 year fix). Result : the house costs you £1000 a month to buy. A couple of school teachers, for example, could easily afford that. I know ther are risks with interest rates going up and prices falling but a lot of people don't think about that, they're just looking at the up front 'affordability' on the day they take out the mortgage.

There's a lot of talk about help to buy inflating this new stage to the bubble but I think the real problem are these crazy low interest rate FLS backed mortgages that are behind it all. Anyone with a decent deposit thinking of buying is piling in now because even at crazy prices the maths makes it better than renting.

If a couple of school teachers (both of whom actually have above average income) with a decent inheritance can only be expected to buy a grotty terrace, whose going to buy houses higher up the market all the old farts will vacate as they die in the next couple of decades?

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Wonder how much it was in 1995/6?

£40k ?!

A friend of mine bought a 3 bed place on Catherine Street in 94 for 60K. Benson Street is probably a marginally more desirable location but that house is totally f*cked so 40K is probably a touch on the high side. I reckon the Cambridge house I sold in 2010 when I moved to Canada would cost about 30% more to buy now so I guess the sellers of this may actually get 400K. Cambridge is a lovely place to live but it's clear that people paying 400K for a small terrace house in a nice, but not fantastic, area of town are not working there. Back in 95 I did a few weeks of commuting to London and there were about 20 people waiting at the station for the 7:15 to Kings Cross. The equivalent train today has 12 carriages and is standing room only, which tells you where the money is coming from.

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If you've got 150K deposit from BOMAD or some other inheritance at the moment you can borrow the rest at 2% (e.g. HSBC 2 year fix).

Except that the agents think the house is unmortgageable.

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I think the money is coming form savings earning no interest.

A friend has just seen the house next door but one in his close just sell to a cash buyer who was local, (my freind knew the seller well)

sometimes I think of withdrawing my savings and doing the same whorls need a small mortgage also though.

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If a couple of school teachers (both of whom actually have above average income) with a decent inheritance can only be expected to buy a grotty terrace, whose going to buy houses higher up the market all the old farts will vacate as they die in the next couple of decades?

Foreign millionaires might be tempted to invest in Cambridge in case their kid gets into the university. Cant have them wasting money on rent now.

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Guest eight

Back in 95 I did a few weeks of commuting to London and there were about 20 people waiting at the station for the 7:15 to Kings Cross. The equivalent train today has 12 carriages and is standing room only, which tells you where the money is coming from.

I bet the train is still losing money though!

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I think the money is coming form savings earning no interest.

A friend has just seen the house next door but one in his close just sell to a cash buyer who was local, (my freind knew the seller well)

sometimes I think of withdrawing my savings and doing the same whorls need a small mortgage also though.

Yes this 'bubble' is slightly different in that dim but rich are fueling it rather than 120% self cert mortgages. Which means house prices can crash without taking out the banking system.

Some people are going to take a serious hair cut IMO but next time round it won't be the banks/taxpayers.

Edited by aSecureTenant

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