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TheCountOfNowhere

My neighbour just sold their house for 50% more than they bought in 2014

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If I hadn't seen it with my own eyes I wouldnt believe it.

They paid 207 prices in 2014 and just sold for 50% more ( in Northampton ).

I kept thinking it would fall through, but they've moved today.

The is extraordinary.

Money is worthless.

The bankers have won, teh magic money tree has enriched 1 group in society at a massive expense to the rest of us.

I intend to tell my new neighbors how totally f**king ridiculous they are for paying that amount.  Thankfully they wont talk to me after that,, hey ho, such is life.

 

We needed a 50% collapse from the price they paid in 2014, now we need a 70% collapse.


This is totally totally insane./tragic/evil/unbelievable.

 

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10 minutes ago, Calcutta said:

Only decent thing to ever come out of Northampton was the guy who stabbed Ian Huntley in jail.

+ The Count,who has entertained and illuminated on here since the dark days of NR going under.

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57 minutes ago, TheCountOfNowhere said:

If I hadn't seen it with my own eyes I wouldnt believe it.

They paid 207 prices in 2014 and just sold for 50% more ( in Northampton ).

I kept thinking it would fall through, but they've moved today.

The is extraordinary.

Money is worthless.

The bankers have won, teh magic money tree has enriched 1 group in society at a massive expense to the rest of us.

I intend to tell my new neighbors how totally f**king ridiculous they are for paying that amount.  Thankfully they wont talk to me after that,, hey ho, such is life.

 

We needed a 50% collapse from the price they paid in 2014, now we need a 70% collapse.


This is totally totally insane./tragic/evil/unbelievable.

 

I'd love to be a fly on the fence when you do that. Well look on the bright side; your place is obviously worth a fortune now - even though it is in Northampton.

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12 minutes ago, Calcutta said:

Only decent thing to ever come out of Northampton was the guy who stabbed Ian Huntley in jail.

https://en.wikipedia.org/wiki/List_of_people_from_Northampton

Toby Anstis??

Bauhaus

Michael Crick (please note our illustrious Count isn't in the C's-what sort of list is that?)

Whispering' Bob Harris

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15 minutes ago, Calcutta said:

Only decent thing to ever come out of Northampton was the guy who stabbed Ian Huntley in jail.

Lesley Joseph

Nanette Newman

Derek Redmond

Jo Whiley

 

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50% since 2014...well that should ring very loud alarm bells.  The buyer must know the 2014 price...surely anyone with any sense would pull back from paying 50% more after only 3 years on the basis that this was an indicator that they were over paying..

Heart warming for those not in the land and property owning camp...they can sleep easy at night knowing that all their hard work over the last three years and saving and frugal living has been all for NOTHING.  And the state and seen it fit that the fruits of all their industry should be effectively confiscated and shifted to the more deserving property and land owners.

 

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1 hour ago, TheCountOfNowhere said:

Money is worthless

sure as hell the buyer didn't earn the money used to buy the property....it will come from HPI on their sale, inheritance and possible some debt at absurdly low rates that is tomorrow's problem...nobody who has worked and earned money would use it to buy UK resi property unless they were mad and I think that tells you a lot. 

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33 minutes ago, Calcutta said:

Only decent thing to ever come out of Northampton was the guy who stabbed Ian Huntley in jail.

****** that gave me a good laugh. :lol:

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1 hour ago, TheCountOfNowhere said:

If I hadn't seen it with my own eyes I wouldnt believe it.

They paid 207 prices in 2014 and just sold for 50% more ( in Northampton ).

I kept thinking it would fall through, but they've moved today.

The is extraordinary.

Money is worthless.

The bankers have won, teh magic money tree has enriched 1 group in society at a massive expense to the rest of us.

I intend to tell my new neighbors how totally f**king ridiculous they are for paying that amount.  Thankfully they wont talk to me after that,, hey ho, such is life.

 

We needed a 50% collapse from the price they paid in 2014, now we need a 70% collapse.


This is totally totally insane./tragic/evil/unbelievable.

 

And your old neighbours (the sellers) will have probably paid 50% more for the house they have moved into.

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So you mean to tell me the HPC everyone has been saying has been going on since 2009 outside of the south east hasn't really happened or at least is well over. Year on year i hear (mainly from the count who has me blocked) that house prices are at a peak and on their way down or It's madness to buy now. I have argued (sometime halfheartedly) that this is a political issue and the UK economy cant function without increasing prices because we cannot run a decent economy here in the UK. I am still surprised that people see an imminent end to HPI, I'm not seeing it except in some parts of Cambridge and London. People look at the props and government policy and even the coalition could throw the market under the bus in 2010 and blame it on labour. They didn't because they knew its affect on the economy and their wealth. So if people expect to have a HPC to occur now willingly after the government passed it over then i think they will be disappointed.

It could be argued you should be more impressed with the acumen of the people who brought in 2014 who recognised the political will and freely set their position in the market exiting with a profit whereas the renter savers also freely decided not to buy and now have their cash and interest over those 3 years. Nobody knows with certainly whether then new neighbours have made a good decision until they come to sell so I would be mindful about giving them an earful when the counts general viewpoint over the last few years has been a bit off in terms of direction of house prices (see are the shires crashing thread). Everyone makes free choices don't feel bitter about somebody elses success just reflect whether the decision not to buy/not to buy was indeed the correct one and use this data to improve ones decision making next time.

Anyway count this should be in the anecdotal section it is one sale (unless you apply different rules to my posts about a single sale).

 

 

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35 minutes ago, Wayward said:

50% since 2014...well that should ring very loud alarm bells.  The buyer must know the 2014 price...surely anyone with any sense would pull back from paying 50% more after only 3 years on the basis that this was an indicator that they were over paying..

Heart warming for those not in the land and property owning camp...they can sleep easy at night knowing that all their hard work over the last three years and saving and frugal living has been all for NOTHING.  And the state and seen it fit that the fruits of all their industry should be effectively confiscated and shifted to the more deserving property and land owners.

 

I've seen buyers pay anything from 30%-50% more than prices from only 2 or 3 years ago more times than I can remember now... and that's in the North!

 

I can only assume that they really are that thick and ill informed that they're not aware of the previous sale price, or they're so indoctrinated into the cult of HPI forever and ever that they're convinced it will continue to rise in value constantly and indefinitely and their mad gainz are guaranteed 

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1 hour ago, TheCountOfNowhere said:

If I hadn't seen it with my own eyes I wouldnt believe it.

They paid 207 prices in 2014 and just sold for 50% more ( in Northampton ).

I kept thinking it would fall through, but they've moved today.

The is extraordinary.

Money is worthless.

The bankers have won, teh magic money tree has enriched 1 group in society at a massive expense to the rest of us.

I intend to tell my new neighbors how totally f**king ridiculous they are for paying that amount.  Thankfully they wont talk to me after that,, hey ho, such is life.

 

We needed a 50% collapse from the price they paid in 2014, now we need a 70% collapse.


This is totally totally insane./tragic/evil/unbelievable.

 

Based on the average house price stats, one could have bought at any time since the late 90s up to today, and 'made' money by selling today.

It's pretty obvious from government policy initiatives that maintaining the high price of housing is a major imperative as it simply powers so much credit creation and keeps homeowners happy.  The only fly in the ointment from their PoV is that more and more people are now realising that they are disadvantaged by it - hence loony schemes like 'Help to Buy', shared ownership etc to mollify them.  Expect more of this as they simply can't afford to let house prices fall and will happily bung taxpayer funded subsidies in there to keep the plates spinning.

Only rising interest rates are going to force a proper crash and before that happens there will be a lot more QE with the aim of keeping them repressed.

 

 

 

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1 hour ago, TheCountOfNowhere said:

Money is worthless.

The £10 note in my pocket says

"I promise to pay the bearer on demand the sum of ten pounds".

So there you go, it's not worthless.  You can swap it for a new piece of paper,  just like a supermarket bag-for-life where they keep giving you a new one when the old one wears out.

 

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5 minutes ago, Mr Banks said:

I have argued (sometime halfheartedly) that this is a political issue and the UK economy cant function without increasing prices because we cannot run a decent economy here in the UK.

Nonsense. High house prices are strangling the wider economy of the UK as people spend a disproportionate amount on housing.  Less people are moving home (can't afford to second step) so it just jams up the economy as decent workers are harder to find for businesses.  The rise of Aldi/Lidl/poundshops will tell you all you need to know in regards to how much purchasing power people in the UK have these days.

9 minutes ago, Mr Banks said:

Everyone makes free choices don't feel bitter about somebody elses success just reflect whether the decision not to buy/not to buy was indeed the correct one and use this data to improve ones decision making next time.

Looks like someone else bought recently, eh Mr Banks? Enjoy paying off that mega-mortgage.  Realise you paid 2 to 3 times more than your property's worth. 

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13 minutes ago, nome said:

I've seen buyers pay anything from 30%-50% more than prices from only 2 or 3 years ago more times than I can remember now... and that's in the North!

Which is what I REFUSED to do in Milton Keynes to pay £450k for a house sold for £290k just 3 years ago. Its a*e s**t and far outside the town and away from amenities.

The estate agent was saying its an excellent location with strong potential to be part of the city. I told her thanks and goodbye to Milton Keynes.

Same story in some other towns I searched. Friends assuming £500k for a 4 bed detached house in the outskirts of a small town is reasonable. God save them.

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20 minutes ago, Mr Banks said:

It could be argued you should be more impressed with the acumen of the people who brought in 2014 who recognised the political will

LOL not everywhere. This is dangerous assumption that prices will rise everywhere the same way.

I knew those who didn't buy in North London and bought in Essex and saved hundreds of thousands of pounds.

What if political will changes with Jezza determined to stamp this plague out ?

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  • 297 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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