The penny has to drop soon

[shindigger]

1 hour ago, Untoward said:

Just paid £320 for a new alternator on a 2004 Honda Jazz ("Ouch").

I got chatting to the lady at the till (at 7pm, she was in there at 7.30am this Morning). Her fella has a business in Winchester and she works two jobs. They are saving for a deposit for a mortgage. I told her where I am currently renting and she aspires to live there but cannot afford it - she actually said "ouch!". We live in a tiny, semi-detached 850ft2, 3 bed house in a really dull street, right on the outskirts of Winchester. Mix of Young families and oldies.

Most of the street is (aspiring) middle-class, albeit cannot afford to do anything other than pay off the mortgage and monthly bills but there are some really amusing juxtapositions. Brand new pair of Mercs on one driveway, the attached house has a refuse collection flat bed on it - a really tatty house. These houses are going for 450K in poor repair. If they have been extended and updated, whack 100k-150k on top. It is utterly insane. These were starter houses in the mid-sixties for low income families.

BONKERS BONKERS BONKERS.

 

 

Ive heard another story about a Honda Jazz costing an arm and leg to repair.

Think it was a replacement key. At around the £300 mark too.

[Si1]

8 minutes ago, shindigger said:

Ive heard another story about a Honda Jazz costing an arm and leg to repair.

Think it was a replacement key. At around the £300 mark too.

I think all modern immobiliser coded car keys cost a lot to replace.

[btd1981]

Yeah, that two minutes connected to a proprietary software system doesn't come cheap.

[AvoidDebt]

9 hours ago, btd1981 said:

 

And also the person saying it's best to buy now before interest rates increase 

To be fair that's what the 'experts' are saying also. This 'expert' thinks its best to buy now before the landlords exit the market en masse. Kid you not.. 

“The problem will be exacerbated next month as mortgage tax relief is removed, forcing more landlords to exit the market or ramp up rents.

“We may be in the eye of the storm in Britain’s housing market – a brief period of calm before the turbulence begins again. The base rate can’t stay on the floor forever.

“With Brexit approaching, economic conditions may get tougher. First-time buyers may need to board the ladder now before it’s hoisted up again.”

John Bagshaw, corporate services director of Connells Survey & Valuation,

http://www.propertyindustryeye.com/39767-2/

 

[Dorkins]

10 hours ago, Dyson Fury said:

9ft 7 by 6ft 5.  Below the minimum size for a single bedroom in an HMO (but of course this is a family home, not an HMO).

https://www.rla.org.uk/landlord/guides/room-sizes-for-houses-in-multiple-occupation.shtml

Pythagoras' theorem comes in useful for fitting bed into a room of this size.  As long as the door opens outwards....

Thanks! Looks like that 9ft7 wall wouldn't be able to accommodate a 6ft bed because of the door and built-in wardrobe. Probably the 6ft5 wall was specified by the construction company as "make it just about possible to put a bed in there and not one brick more".

[AvoidDebt]

31 minutes ago, AvoidDebt said:

 

John Bagshaw, corporate services director of Connells Survey & Valuation,

 

Connells was getting slammed in press recently for aggressively trying to push their debt products. Sounds like a terrible company. Rampers and debt pushers until the very end. 

http://metro.co.uk/2017/03/10/the-great-mortgage-fix-how-estate-agents-trick-buyers-into-spending-more-6476355/

Edited March 15, 2017 by AvoidDebt

[Cosmic Apple]

10 hours ago, btd1981 said:

That MSE thread is almost worth a separate topic of its own. It's interesting to see both sides of the story, here and that (of presumably the wider public) on there.

Trying to remain objective, I find it difficult to understand why people get snotty at the suggestion that, if you aren't getting offers at a house at x price, or all of your received offers are at x-10%, then perhaps the house isn't worth as much as you think it is?

And also the person saying it's best to buy now before interest rates increase due to Brexit (their prediction). Well, if that comes to pass, surely the aftermath of that storm would be the chance of a lifetime to buy NOT before? Rising interest rates will (hopefully) only do one thing for these obscene prices. Do people not learn from history at all?

Paying a lower price at higher interest rates doesn't calculate in today's 'monthly payment' world. The fact that if you owe less, over payments are a lot more effective is lost on most people.

[mikthe20]

10 hours ago, btd1981 said:

Do people not learn from history at all?

Both Gordon Brown and George Osborne studied history at university. So, no!

[houseface2000]

11 minutes ago, Northern Welsh Midlander said:

Paying a lower price at higher interest rates doesn't calculate in today's 'monthly payment' world. The fact that if you owe less, over payments are a lot more effective is lost on most people.

I had a friend who bought at the peak of the 2007 bubble pre crash. Genuinely telling everyone how lucky she was to have bought when she did as it's very hard to get a mortgage now.. forgetting her assets dropped 20% in value and rates were falling

[btd1981]

38 minutes ago, houseface2000 said:

I had a friend who bought at the peak of the 2007 bubble pre crash. Genuinely telling everyone how lucky she was to have bought when she did as it's very hard to get a mortgage now.. forgetting her assets dropped 20% in value and rates were falling

My wife and I bought at almost the exact same time (since sold). Her dad used to say 'at least you've got one'....one what? One debt greater than the value of the 'asset'?

[GreenDevil]

12 hours ago, AvoidDebt said:

I've mentioned it before but I don't think the ramping will stop. Psychologically it's impossible for them to pull back and take a 'breather', each new listing has to smash the previous record, absolutely must. Some may start reducing after a few weeks whilst others just sit their indulging their fantasies and delusions. It's also probably the reason why property bubbles never plateau nor unwind slowly. It's full on ramping all the way until it bursts in a hideous manner.

One thing that the current impasse has shown me is never ever buy a crap house just for the sake it. You really can get stuck with them until death do us part. Even in nice areas I'm seeing crap houses sticking around for years, and that's in manic London. 

Agree and Disagree. What tends to happen as the prices rise, the crap house that noone wants starts looking really cheap. Then it will sell. To some one desperate for a home as prices run away. You can always sell a crap house in a fast rising market.

However once prices plateau or start falling, then you have the problem getting shot.

As for EAs dont get me started. They have a vested interest to ramp the prices. After all it pays for the new white merc.

 

[Wayward]

21 hours ago, Untoward said:

Spot the difference:

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=60940763&sale=75895971&country=england

3 years later and a 46% rise:

http://www.rightmove.co.uk/property-for-sale/property-46145436.html?backListLink=%2Fproperty-for-sale%2Fmap.html%3FsortType%3D2%26viewType%3DLIST%26channel%3DBUY%26index%3D0%26radius%3D0.0%26numberOfPropertiesPerPage%3D24%26locationIdentifier%3DREGION%5E1460%23_includeSSTC%3Don%26auction%3Dfalse%26locationIdentifier%3DREGION%5E1460%26numberOfPropertiesPerPage%3D24%26previousSearchLocation%3DWinchester%26radius%3D0.0%26searchLocation%3DWinchester%26searchType%3DSALE%26sortType%3D2%26useLocationIdentifier%3Dfalse%26viewType%3DLIST%26box%3D-1.33003%2C-1.32644%2C51.06766%2C51.07066%26popupPropertyId%3D46145436&fromMap=true

Well done Osbourne and Carney. You pair of utter cretins.

There are countless disgusting examples of this disgusting ramping.  All calculated, planned and implemented by the above. Hope they feel safe when society really begins to break down. I know who I blame. My list starts from 1997. 

 

 

Their plan has worked a treat...