Watching Homes Under The Hammer

[right_freds_dead]

sat here watching homes under the hammer. guess what ?

theres a young persons affordable house being sold as a 'rental' investment.

guess whos in the audience ?

look at it. every ones a boomer or older. i dont see any young at the auction audience.

who bought it ?

a property developer and her builder boyfriend.

well its clear to see whats really going on.

no ftbs or young can buy and the boomers are carving up the country amongst themselves.

look at the people in the room at these auction.

can you find anyone under 30 ?

this country is SICK...

no talk of this would make a good home. its all property development. investment. flipping. cashing in. p[rofits. profits. profits.

[Converted Lurker]

sat here watching homes under the hammer. guess what ?

theres a young persons affordable house being sold as a 'rental' investment.

guess whos in the audience ?

look at it. every ones a boomer or older. i dont see any young at the auction audience.

who bought it ?

a property developer and her builder boyfriend.

well its clear to see whats really going on.

no ftbs or young can buy and the boomers are carving up the country amongst themselves.

look at the people in the room at these auction.

can you find anyone under 30 ?

this country is SICK...

no talk of this would make a good home. its all property development. investment. flipping. cashing in. p[rofits. profits. profits.

The auction I was at on Monday reflected what you are saying Fred, the only young guys I saw there were 2 or 3 couples, who did not bid on anything, and a few lads who looked as though they were with Mum and Dad. Mind you it was very poorly attended. There is hope though Fred, only approx. 30 out of 93 sold, not much money in the room IMHO, I reckon the auction will become an excellent place for the FTB to buy in years to come

[Guest rigsby II]

Some nice farms for sale if anyones interested...

http://www.farmersweekly.co.uk/Property/Search.aspx

[Casual Observer]

sat here watching homes under the hammer. guess what ?

theres a young persons affordable house being sold as a 'rental' investment.

guess whos in the audience ?

look at it. every ones a boomer or older. i dont see any young at the auction audience.

who bought it ?

a property developer and her builder boyfriend.

well its clear to see whats really going on.

no ftbs or young can buy and the boomers are carving up the country amongst themselves.

look at the people in the room at these auction.

can you find anyone under 30 ?

this country is SICK...

no talk of this would make a good home. its all property development. investment. flipping. cashing in. p[rofits. profits. profits.

You could afford it, so why are you whingeing?

[bob monkhouse]

Muhahahaahha

Let the arrogant boomers snap up properties, let them MEW and gear themselves to the hilt with grossly inflated dreams of asset inflation, pimms in the Holiday home and Sarah beeny. Let them continue to build up their portfolio's when they should be selling, let more and more vacant flats be built, for it will exacerbate the fall. Lets watch them squirm as the Market turns, jobs are lost, rates go up '5% reduction, 15%, 25% plus stamp...plus legal...please buy it for the love of god". I will gladly snap up one of their properties, once the market hits bottom. Our time will come Ftb's. Muhahahahaa.

edit:Have to stop using heroin on tuesday night.

[Casual Observer]

I will gladly snap up one of their properties, once the market hits bottom. Our time will come Ftb's.

But then, in about 20 years time some new FTBs will call you a greedy, middle aged, money-for-nothing sponger! Is that what they mean by the housing cycle?

[rockdoctor]

It's going to be amusing watching the massive transfer of wealth from the older generation to the young that will occur when house prices dive.

[Casual Observer]

It's going to be amusing watching the massive transfer of wealth from the older generation to the young that will occur when house prices dive.

There are many youngsters with large BTL portfolios, with equities much higher than mine. Will their wealth transfer to my generation? I do hope so.

[Ferret]

well its clear to see whats really going on.

no ftbs or young can buy and the boomers are carving up the country amongst themselves.

Don`t worry RFD when the crash comes you will be able to buy that farm your offer was refused for half price, throw in the LA house in a nice semi rural area who accepted your offer of 110k which you pulled out on and you will be on your way. Sell your 450k business and man you are retired at 40 ish

[Wankan]

Isn't this currently aired prog a year old ?

When I used to watch it in 2004 I tracked a couple of the sold houses and they were sold in 2003 .

[bob monkhouse]

But then, in about 20 years time some new FTBs will call you a greedy, middle aged, money-for-nothing sponger! Is that what they mean by the housing cycle?

Yes I will be a complete hipocrite. Hopefully I will know to quit whilst Im ahead, as im sure some of the older generation on here have already (I take it you have?)

edit: I 'll become a tory too, and change my surname to Van Hoogstraten, or John Rambo

Edited December 7, 2005 by bob monkhouse

[Casual Observer]

Yes I will be a complete hipocrite. Hopefully I will know to quit whilst Im ahead, as im sure some of the older generation on here have already (I take it you have?)

I'm not sure what you mean. I only ever bought a house to live in, and I still need one!

[right_freds_dead]

Don`t worry RFD when the crash comes you will be able to buy that farm your offer was refused for half price, throw in the LA house in a nice semi rural area who accepted your offer of 110k which you pulled out on and you will be on your way. Sell your 450k business and man you are retired at 40 ish

y'know. thats not a bad back up plan. i try to buy, buy its always just that bit of a stretch and i end up back here in hermit rd. if i dont get homed i might do what you said. i have been considering it and i havd a business valuation last year that was cool. since then the turnovers grown considerably and the reputation has grown with it. i think i can get 300k easy. in a couple of years possibly more.

thats partly why id like to rent a HA home like i do now so i can pack it away and call it a day later.

though i would have stuck my neck out with that last house i was into at 240k, but the computer said no.

after say 1 more year of this, i think i will have turned a corner and will stick this out to the bitter end and then sell up. perhaps ill look at my savings and the future of this country and think. well, its only go to get pinched in tax for the elderly and go abroad. this place can be grim. i cant see a motive to stay other than family connections. its not ideal. i should be able to have bought the house i looked at really. though i hope things will have corrected by then and i can settle down here again.

theres too many people.

too many hoops.

and not enough space to go round.

this is the land of confusion.

[bob monkhouse]

I'm not sure what you mean. I only ever bought a house to live in, and I still need one!

*Shrugs*

My comments are tongue in cheek. Didnt mean to offend you with the baby boomer bit

y'know. thats not a bad back up plan. i try to buy, buy its always just that bit of a stretch and i end up back here in hermit rd. if i dont get homed i might do what you said. i have been considering it and i havd a business valuation last year that was cool. since then the turnovers grown considerably and the reputation has grown with it. i think i can get 300k easy. in a couple of years possibly more.

thats partly why id like to rent a HA home like i do now so i can pack it away and call it a day later.

though i would have stuck my neck out with that last house i was into at 240k, but the computer said no.

after say 1 more year of this, i think i will have turned a corner and will stick this out to the bitter end and then sell up. perhaps ill look at my savings and the future of this country and think. well, its only go to get pinched in tax for the elderly and go abroad. this place can be grim. i cant see a motive to stay other than family connections. its not ideal. i should be able to have bought the house i looked at really. though i hope things will have corrected by then and i can settle down here again.

theres too many people.

too many hoops.

and not enough space to go round.

this is the land of confusion.

My my Rfd, seems like you'll be ok. Imagine what its like for those on average wages.

[Catch22]

Those Evil Babyboomers they get everywhere B@st@rds B@stards B@st@ards.

Mind you I dare say the age differential regards auction bidders would have been the same at anytime in history, but hell thats irrelevent.

Infact if my memory serves me well, the wifes uncle used to buy houses at auction when we had all on buying a £2 meat pack [contents unknown] from a butcher that came around the estate every Friday evening.

Jeez, I now realise I missed out on a great oppertunity to pray for his demise. Missed out on cultivating an unhealthy paranoia about him. He was a guy who started out as a one man band painter and decorator , and then he morphed into into a pre war version of what we now recognise as the evil of all evils.

THE BABYBOOMER

And I did nothing nothing to stop it I tell you NOTHING...............................But looking on the bright side neither have I suffered from stomach ulcers brought on by an unhealthy hatered of somebody elses fortune. Or the belief that the entire world [well that part of the world that make up the evil called b@st@rd babyboomers] has entered into a conspiracy to keep from me that which is rightly mine.

Or I can get just get on with life and wait until the economic cycle plays out ................Bugger

Better still if I really wanted to practice what I preach by transfering wealth from the have's to the have not's the dispossessed, those made homeless through no fault of their own I could log onto Dec Asia Quake Appeal and donate a few quid or more...........instead of overdosing on my own self pity

You may have noticed I've decided to stick around for a while

[Casual Observer]

Those Evil Babyboomers they get everywhere B@st@rds B@stards B@st@ards.

Mind you I dare say the age differential regards auction bidders would have been the same at anytime in history, but hell thats irrelevent.

Infact if my memory serves me well, the wifes uncle used to buy houses at auction when we had all on buying a £2 meat pack [contents unknown] from a butcher that came around the estate every Friday evening.

Jeez, I now realise I missed out on a great oppertunity to pray for his demise. Missed out on cultivating an unhealthy paranoia about him. He was a guy who started out as a one man band painter and decorator , and then he morphed into into a pre war version of what we now recognise as the evil of all evils.

THE BABYBOOMER

And I did nothing nothing to stop it I tell you NOTHING...............................But looking on the bright side neither have I suffered from stomach ulcers brought on by an unhealthy hatered of somebody elses fortune. Or the belief that the entire world [well that part of the world that make up the evil called b@st@rd babyboomers] has entered into a conspiracy to keep from me that which is rightly mine.

Or I can get just get on with life and wait until the economic cycle plays out ................Bugger

Better still if I really wanted to practice what I preach by transfering wealth from the have's to the have not's the dispossessed, those made homeless through no fault of their own I could log onto Dec Asia Quake Appeal and donate a few quid or more...........instead of overdosing on my own self pity

You may have noticed I've decided to stick around for a while

Nice one

[RichM]

Catch22, some of my best friends are boomers! Even my parents are.

Most boomers are not the subject of hatred on this site, just the idiots who have decided that rising house prices are somehow good for the UK economy and a nice way of makig a quick buck.

My parents have shed loads - relatively speaking - of equity in their house, but in absolute terms, they have a large mortgage - about 60K on a house "worth" 400K. They are too busy doing their jobs to muck about with property speculation.

Yet some idiots seem to think that their BTL schemes have no inherent danger, and in fact, produce wealth for the country! In reality they have helped to produce a colossal asset bubble (along with the assent of the banks, the government etc) that will enormously harm this country, as well as shooting themselves in the foot. I would be more angry, were it not for the fact that they are too stupid to get angry at.

There's a few parents on here who are concerned citizens, as much for their own kids as anyone else. We're seriously heading into Japan '88 territory with this madness.

[London Landlady]

Regarding the age of people at an auction - I think (& I'm sure someone willcorrect me if I'm wrong) that you have to have the full amount acailable when you purchase at auction - so either cash or if a mortgage - the mortgage would have to be on another property.

Maybe that is why you don't get many FTB's at an auction?

(PS _ Only doing 1 post a day as I got ticked off for posting too much)

PPS _ Also Xmas shopping ia a higher priority

PPPS _ Also buying a property - but that is another tale - just the best time (for me) to be buying at the moment - wicked bargains about.

[Spirit]

sat here watching homes under the hammer. guess what ?

theres a young persons affordable house being sold as a 'rental' investment.

guess whos in the audience ?

look at it. every ones a boomer or older. i dont see any young at the auction audience.

who bought it ?

a property developer and her builder boyfriend.

Yes, I saw it too.

Think they're probably regretting it though...

They paid 94,000

spent 15,000 (not including any interest or fees of course)

Spent 7 days a week working on property for over 2 months

Agent said they'd market it for 125,000 but no sale on LR

No listing on rightmove for 53 Victoria Street Gillingham either, but similar property sold for 110,000 in August!

Plus the couple weren't speaking by the end of the project....

[Ferret]

PPS _ Also Xmas shopping ia a higher priority

Yep, I see Tesco are selling half price frozen Turkeys.

PPPS _ Also buying a property - but that is another tale - just the best time (for me) to be buying at the moment - wicked bargains about.

Surely they are not doing BOGOFs.

Edited December 7, 2005 by fedupwaiting

[IMupNorth]

sat here watching homes under the hammer. guess what ?

theres a young persons affordable house being sold as a 'rental' investment.

guess whos in the audience ?

look at it. every ones a boomer or older. i dont see any young at the auction audience.

who bought it ?

a property developer and her builder boyfriend.

well its clear to see whats really going on.

no ftbs or young can buy and the boomers are carving up the country amongst themselves.

look at the people in the room at these auction.

can you find anyone under 30 ?

this country is SICK...

no talk of this would make a good home. its all property development. investment. flipping. cashing in. p[rofits. profits. profits.

Fred,

for your mental health - STOP watching these programmes. They are fodder programmes for the people who sit at home all day. It lets them daydream harmlessly about how life could be better if only their circumstances were different. They are part of the mind numbing medecine that is dished out to make them feel happier for gods sake.

You say you are on above average wages - thats a good start. Build on it, work your balls off, retrain, get a better paid job, do what ever but concentrate on earning as much as possible.

Buy the cheapest house/flat you can cope with and DO IT NOW and stop worrying about property prices and your miserable life renting. At least you have something you can call home.

By buying the cheapest place possible you will limit the downside of Neg Eq. In the mean time, concentrate on earning as much money as possible and when you finally see the market reach bottom (at some indeterminate point in the future) then you will be in a good position to buy.

You are being a victim and you sound miserable. Seize the day Fred.

[SarahBell]

By buying the cheapest place possible you will limit the downside of Neg Eq. In the mean time, concentrate on earning as much money as possible and when you finally see the market reach bottom (at some indeterminate point in the future) then you will be in a good position to buy.

Hello?

Buy now and then buy again at the bottom of the market? Why not just wait til then?

[Catch22]

Catch22, some of my best friends are boomers! Even my parents are.

Most boomers are not the subject of hatred on this site, just the idiots who have decided that rising house prices are somehow good for the UK economy and a nice way of makig a quick buck.

My parents have shed loads - relatively speaking - of equity in their house, but in absolute terms, they have a large mortgage - about 60K on a house "worth" 400K. They are too busy doing their jobs to muck about with property speculation.

Yet some idiots seem to think that their BTL schemes have no inherent danger, and in fact, produce wealth for the country! In reality they have helped to produce a colossal asset bubble (along with the assent of the banks, the government etc) that will enormously harm this country, as well as shooting themselves in the foot. I would be more angry, were it not for the fact that they are too stupid to get angry at.

There's a few parents on here who are concerned citizens, as much for their own kids as anyone else. We're seriously heading into Japan '88 territory with this madness.

RichM,

don't mind me,

It would appear I've earned of late an unfounded label of being unsympathetic to FTB'ers. Now me being the sort of person that has always worked for what I've achieved, I thought I better set about earning it

By applying the reverse OTT observations back at those who are getting in my opinion an unhealthy fixation on babyboomers and STR'ers.

But I think you are savvy enough to know where I stand in regards to the unfairness of the housing market right now. And how it is stacked up against the future hopes of this country, I have children and a grandchild as well.

And I'm sure RFD knows I think highly of him really, I'm just trying to get him to lighteen up abit for his own healths sake.

You know I see people who forgive those that have caused them so much real pain, like the mother of the lad killed with an ice pick. I'm not sure I personally could be forgiving in that instance, but I do know she will be a better person for it. Because hate is not constructive it is destructive, it destroys from within, it eats away at every thing that is good in you.

Edit: I see ILBB posted while I was writing my reply to you, and I see he like me is posting because he like me see RFD is only depressing himself by obsessing over BB'ers. And believe me depression in the extreme can be a killer in its own right, but even low scale depression can also impact on your general well being.

Edited December 7, 2005 by Catch22

[RichM]

You are right Catch22, I have learnt just to accept things. It has been gratifying to see how "right" we've been proved to be - the failing housing market and debt/pensions crises were predicted months ago on here, and will prove to be the key issues for the coming years.

But before we see the housepricecrash proper, we have to sit tight, and enjoy the life God has given us, no question. As you say, none of my close family have been brutally murdered.

[right_freds_dead]

good advice here. i am getting way too obsessed with it. i might just do something along these lines and buy a cheapy and call it a day. this is no life y'know.

but you know ill be back with a different plan tomorrow........

....those pesky boomers !!!!!

they take all my houses and hog all the good medications...with their bus passes and their poll tax rebates and their modaeos and discoverys....bah hah...!!

but then, its always the 2nd mouse that gets the cheese.....