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Former World Champion Boxer Prince Naseem Hamed Loses £1Million After Selling His Luxury Yorkshire Mansion

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It doesn't say how he was 'forced'? He bought at the market price and now he has sold at the market price, big deal. I'm guessing, as he is not using the home and it is not the sort of place you could rent out too easily, that the costs of running it are rather on the high side, so the £1m doesn't matter so much to him. Rather get something from a money pit than let it continuously suck money from you.

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Aww just before hotairmail's 'Champagne Tower of Prosperity' ripple effect going to pump up Sheffield prices again... surely that place worth a few million more than he's sold it for... in Sheffield.

At least we can carry those who keep outbidding us, as the victims, to make him feel better.

Savills coined the filthy term the 'Champagne Tower of Prosperity" overflowing from the centre towards the periphery.

They were referring to London here but it generally applies:

Otherwise known as people cashing in their winnings and snapping up better value as first users of new credit money or devalued currency where a devaluation has attracted overseas speculators and rentiers.

Oh come on. Read with your eyes not your opinions.

The ripple effect has been a longstanding phenomenon all of my life. It is so well known I'm surprised I've even been trying to persuade someone of its existence.

Thanks. He's getting out of stocks and into housing. He is in Sheffield so the timing will probably be right as a torrent of devalued money created in London arrives there.

http://www.marketoracle.co.uk/Article46535.html

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What a surprise, house prices haven't gone anywhere in the North for ten years (well down in this case).In Nottingham, Sheffield, Lincoln etc prices feel the same as 2004 , because they are. Of course you can find property that is up in the last ten years, but they are not the same property. Without drastic improvement property has gone nowhere in price, period.

And be under no illusions Dore is a very nice place indeed, far wealthier than most of the South East.

Many Northern members on here have all their eggs in property, they don't like to face the truth.

Edited by crashmonitor

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What a surprise, house prices haven't gone anywhere in the North for ten years (well down in this case).In Nottingham, Sheffield, Lincoln etc prices feel the same as 2004 , because they are. Of course you can find property that is up in the last ten years, but they are not the same property. Without drastic improvement property has gone nowhere in price, period.

And be under no illusions Dore is a very nice place indeed, far wealthier than most of the South East.

Many Northern members on here have all their eggs in property, they don't like to face the truth.

:lol:

1 swallow doesn't make a summer and a multimillion pound international sporting star's house does not make a property market.

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