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Offered 70% Of Asking Price

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So at a family birthday yesterday and a cousin who is very much pro-HPI as she and hubby have "worked their way up" mentioned to me that I'd be "happy" that they have only had 2 offers for their house and the best one was 85k bellow the asking price. Just looked and on the market for 285k and been offered 200k. They have decided they stay where they are now. They've been on the market since March too. As a general rule we avoid conversing about house prices because we have opposing ideas so I was amazed she so happily volunteered the info. Obviously I tried to politely respond with an, "Im sorry to hear that" but she knew it was fake and we very quickly moved on. Part of me wishes I'd had the balls to ask what the other offer was but sometimes maintaining family harmony is more important than being "right".

Does make me wonder now if people are just holding on rather than realising losses, in which case it's just a matter of time now before people are forced to sell and we see the drops, right? Tell me I'm right, Ive been waiting for 8-9 years now!

In Newport, South Wales BTW.

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I was wandering around where I grew up a couple of days ago (mining village in the North East) and noticed a 5 bed new build for sale. Checked RM and saw it was up for £215,000. Beyond satire, there is literally nothing there and the whole village has been hollowed out by BTL.

Checked on what other houses on the same estate have sold for and found one which sold in 2004 for £140,000 and sold in 2015 for £80,000. 11 years a paying a mortgage and a £60,000 loss...

Sometimes 70% is just a starting point!

The North East is utterly fooked.

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Hi Bunfight,

I'm looking at relocating to County Durham (currently in Yorkshire) and wondered if you might know of any areas I should totally avoid and/or areas that are decent?

I appreciate the North-East is a big area, but any information you could provide would be appreciated.

Cheers,

BluesChick

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Hi Bunfight,

I'm looking at relocating to County Durham (currently in Yorkshire) and wondered if you might know of any areas I should totally avoid and/or areas that are decent?

I appreciate the North-East is a big area, but any information you could provide would be appreciated.

Cheers,

BluesChick

Hello

I'd avoid any of the old mining villages like the plague. There are massive drink and drugs problems in them and all have big issues with antisocial behaviour. It's heartbreaking really as until the 90's this just wasn't the case. Despite pit closures and unemployment there was still a real feel of community which has all but disappeared except for the older (60+) generation. They are full to the gunnels of new builds to trap the unwary too...

If I was looking to buy I'd look at one of the smaller 'market' towns and move to 'the good end' or find something rural. It will really depend on your job situation and how deep your pockets are too, the only well paying jobs are in the public sector! Everyone I know who has a few quid owns their own business or is in a real niche. Engineering and manufacturing jobs which traditionally paid well are now dead.

It's really sad to say but there is no part I'd wholeheartedly endorse. I even visited Durham for the first time in a long time last month with my little girl and its just awful - on par with Middlesbrough. Plus points for the North East are some amazing countryside and it can be very cheap to live here.

However, having travelled much of the UK I wouldn't want to live elsewhere.

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Good news. All we need now is for both of them to lose their jobs and be forced to sell for less! Oh no, now I sound like a nasty basta*d for saying it was good news. Unfortunately nothing will change until there is pain. Until then we just have sad 'I don't know why it won't sell stories at the dinner table. :wacko:

Edit: typo, emo!

Edited by renting til I die

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Hello

I'd avoid any of the old mining villages like the plague. There are massive drink and drugs problems in them and all have big issues with antisocial behaviour. It's heartbreaking really as until the 90's this just wasn't the case. Despite pit closures and unemployment there was still a real feel of community which has all but disappeared except for the older (60+) generation. They are full to the gunnels of new builds to trap the unwary too...

If I was looking to buy I'd look at one of the smaller 'market' towns and move to 'the good end' or find something rural. It will really depend on your job situation and how deep your pockets are too, the only well paying jobs are in the public sector! Everyone I know who has a few quid owns their own business or is in a real niche. Engineering and manufacturing jobs which traditionally paid well are now dead.

It's really sad to say but there is no part I'd wholeheartedly endorse. I even visited Durham for the first time in a long time last month with my little girl and its just awful - on par with Middlesbrough. Plus points for the North East are some amazing countryside and it can be very cheap to live here.

However, having travelled much of the UK I wouldn't want to live elsewhere.

If you think County Durham is bad you should see Lancashire where I'm currently working during the week...

There used to be a fair number on here from Darlington and its not that bad but the council is utterly dreadful. It does have the advantage compared to elsewhere of the A1(M) and the A66 to get you elsewhere quickly.. Apart from that Durham has nice bits (and the town ain't that bad), Barnard Castle has the Bowes Museum and really hasn't changed much (except for the hideous new estates being built on its edges) and Bishop Auckland has a lot of money being spent on the Castle, the Spanish Gallery and their Kynren show....

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Update. Said cousins husband has left her. I've been told that one of the reasons is he's scared of the amount of the debt she's getting them into, newest car, biggest house, trendy holidays.  I guess they'll be accepting that 30% offer soon then!

Obviously it's a family member so I'm sorry for them but equally, the more this happens around this way the better for me.

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I don't understand about the holding on - unless it is an investment property or you inherited it etc.  If it is your home you only sell if you want to move surely and the only consideration is if you can afford to.

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2 hours ago, scb said:

Update. Said cousins husband has left her. I've been told that one of the reasons is he's scared of the amount of the debt she's getting them into, newest car, biggest house, trendy holidays.

Wow! :mellow:

Seems like the husband has taken the red pill. Can't blame him.

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1 hour ago, MattW said:

Wow! :mellow:

Seems like the husband has taken the red pill. Can't blame him.

He's always struck me as quite a sensible, logical person. I do wonder if the reason my cousin had such an issue with my views (and facebook posts) is because they aligned with her husbands who didn't want to buy an even bigger house?

I'm sure there was more to it than just debt but I guess it soon eats away at you if you're getting into your mid-40s and you realise you have as much debt now as in your late 20s, surly the idea is to pay it down so you can retire?

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"Pay it down so you can retire"

Never a wiser word spoken. No wonder average life expectancy is in the descent, its the debt that'll kill you - in the form of stress and the related stuff like poor diet (often justified to save a bob or 2 to make ends meet)

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21 hours ago, scb said:

He's always struck me as quite a sensible, logical person. I do wonder if the reason my cousin had such an issue with my views (and facebook posts) is because they aligned with her husbands who didn't want to buy an even bigger house?

I'm sure there was more to it than just debt but I guess it soon eats away at you if you're getting into your mid-40s and you realise you have as much debt now as in your late 20s, surly the idea is to pay it down so you can retire?

I think the idea of retirement is a Socialist con.

Until very, very recently, you would work almost til the day you died. 

Retirement and pensions are great for governments, because they provide cover to steal from you in your youth.

 

Besides, who the hell wants to retire? Most old people seem to just wait to die once they lose that purpose.

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21 hours ago, Locke said:

.

 

Besides, who the hell wants to retire? Most old people seem to just wait to die once they lose that purpose.

Indeed. Slow down a bit. Not stop altogether.

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On 15/09/2017 at 11:32 AM, Locke said:

I think the idea of retirement is a Socialist con.

Until very, very recently, you would work almost til the day you died. 

Retirement and pensions are great for governments, because they provide cover to steal from you in your youth.

 

Besides, who the hell wants to retire? Most old people seem to just wait to die once they lose that purpose.

Really...

I'm guessing you don't plan to retire early?

I'm quite happy to be FIRE'ing (financially independent retired early) in less than 1 year when I'll be age 45.  I can think of nothing better than being able to do what I want, when I want, from where I want, while never having to worry about money again.

That will start with a move to the Med where I plan to take a year out to walk, run, swim and cycle my way around/across my new adopted country to immerse myself in it's history/culture/lifestyle.  After that we'll see what I've learnt about myself outside of the corporate grind and go from there.

I'm looking forward to and don't see it as a con at all.  I see it as very possible for anyone who wants it.

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On 15/09/2017 at 11:32 AM, Locke said:

Besides, who the hell wants to retire? Most old people seem to just wait to die once they lose that purpose.

For a long time, I used to think this, but I can see the attractions of winding down and pottering about a bit, and (if anyone bothers to talk to me) pretending to be gnomic and wise.

More seriously, I'm one of the people who live through work, although not necessarily the work that I do in a conventional job. It's also an important part of my life to feel that I'm being useful, and contributing back to society: that is an unambiguously good way of acquiring status, that does not require anyone else to lose theirs. Lastly, I don't have the skills (or inclination, really) to get deeply into a culture by being on holiday somewhere. I have worked in a few different countries, and I very much enjoy experiencing other cultures, but I can only do this through working closely with people there.

For all those reasons, I think retirement would lead fairly quickly to my becoming a bit reclusive and "strange". Nothing really wrong with that, and that's perhaps ultimately the way I'll go when I lose the will to do ought else. However, in the meantime, there is a very big difference between "work" (the exercise of our skills and talents as a joyful and free process - I forget which recently deceased philosopher I'm paraphrasing), and "labouring" for someone else, who treats you with contempt. I have spent the last three years working for controling and useless line manangers, and having escaped from one into the arms of another, I finally had to walk. (That's why I can now consider "waiting to die" not with my wonted horror, but as a viable second-best option).

For me, a good retirement would be to continue to work, but with people I respect, and on things that interest me.

I should add that I very much admire WICAO for his ability to live, and live well, beyond the sphere of Adam's curse ... and likewise anyone else who has that skill.

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On 15/09/2017 at 11:32 AM, Locke said:

I think the idea of retirement is a Socialist con.

Until very, very recently, you would work almost til the day you died. 

Retirement and pensions are great for governments, because they provide cover to steal from you in your youth.

Besides, who the hell wants to retire? Most old people seem to just wait to die once they lose that purpose.

I lived and worked in Ukraine about 12 years ago. One night at about 4am after going out clubbing some friends and I were at an all night cafe bar. Looking out of the window I was shocked to see a little old lady at least in her 70s bent over sweeping the streets with a hand brush made of twigs. It was just before Christmas and about -25. Bl00dy cold.

I felt sorry for her and went out and gave her some cash to help out. She was over the moon. The thing is when I was speaking to her she was very much alive. It got me thinking. I compared her to the poor souls I have seen abandoned in care homes. Going out every day to meet the challenges of life appeared to keep this lady vital. Was this worse than counting the lonely hours between cups of tea in your nice warm cell?

I could not work out who was better off. I still can't.

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On ‎15‎/‎09‎/‎2017 at 11:32 AM, Locke said:

 

Besides, who the hell wants to retire? Most old people seem to just wait to die once they lose that purpose.

Good, so its not just me then. Every large corporation I do any work for, all the staff talk about is retiring, I guess its the only thing that motivates them in their dead end misery. I'd rather work my whole life, doing things I enjoy. What a waste, they have no idea how miserable retirement can be (just try being out of work for a while).

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9 minutes ago, wsn03 said:

Good, so its not just me then. Every large corporation I do any work for, all the staff talk about is retiring, I guess its the only thing that motivates them in their dead end misery. I'd rather work my whole life, doing things I enjoy. What a waste, they have no idea how miserable retirement can be (just try being out of work for a while).

I struggle with bank holiday weekends :rolleyes:

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22 minutes ago, Option5 said:

I struggle with bank holiday weekends :rolleyes:

As you've already pointed out, you are me in another dimension.

I struggle with bank holiday weekends too! Like really struggle. Worse my wife does as well, by Monday we're like the walking dead, unable to cope with the laziness of it all :-)

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On 15/09/2017 at 12:32 PM, Locke said:

Besides, who the hell wants to retire? Most old people seem to just wait to die once they lose that purpose.

You guys lack imagination then :)

I've taken several mini retirements and loved every minute. 

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