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quangolicious

What Does It Mean?

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hee hee sold it to a bank, I remember when the banks and building societies bought up all the Estate Agents just before the last housing market crash. :D:D:D

you know what they say....what comes round goes round :rolleyes:

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What do they know that the Sheeple do not know? That house prices are about to crash? They are practising sound investment policies: buy low and SELL high.

I agree, but why would a bank buy it?

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Well, perhaps there is no more money to be made..

did they make a loss?

nope..

but if there was more money to be made.. would they have sold..?

Actually we know why

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I agree, but why would a bank buy it?

Remember the banks are worth a fecking fortune right now on the back of the mortgage market and giving massive unsecured loans to every sucker who has 20 credit cards.

So from their perspective they may be paying well over the odds for it but then they have cash to burn and if they don't do something with it they'll have to answer why they haven't returned it to shareholders as dividends.

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If HBOS with £84bn of assets buys a measly £300m more residential property from a money losing business then it can keep the bad news of the residential property crash from the press. (hypothesising here).

On a scale one might assume it as lost leader whilst hiding news that would effect peoples spending on both a major (home buying) and minor (high street) scale.

Either way it's a strange deal for a property profiting company to sell it's main business resource. Why indeed?

Simply put it must be either overpriced or about to drop in their eyes, assuming they aren't having financial troubles.

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If HBOS with £84bn of assets buys a measly £300m more residential property from a money losing business then it can keep the bad news of the residential property crash from the press. (hypothesising here).

It's interesting PR and if they sell them on they can provide mortgages for them, Halifax even run their own EA's.

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British Land are no fools. In fact they're one of the most savvy property outfits around so I think we can read something into it.

What's the betting that in about 7 years time HBOS will sell off this business as a "non core asset", for a loss?

Edited by shermanator

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I remember when the banks and building societies bought up all the Estate Agents just before the last housing market crash.

Yes, ridiculous wasn't it. They paid a fortune for EAs and many EAs retired on the buy-outs only for, several years later, the banks and building socities selling them off for a loss. Another sign of a bubble IMPO when the banks themselves have too much money, don't know what to do with it and end up buying into their own hype.

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If I had 300m worth of property I would wait until the market was staring into the obis

I would then approach one of the biggest VI’s who’s got money to burn and say :-

You can have houses for 300m or I will put them all on the open market-

Thus flooding the market,

Thus forcing down the price,

Thus causing a hpc.

Thus leaving the bank in a very sticky situation indeed.

What would you do if you had £300m worth of property?

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Guest Winners and Losers

If I had 300m worth of property I would wait until the market was staring into the obis

I would then approach one of the biggest VI’s who’s got money to burn and say :-

You can have houses for 300m or I will put them all on the open market-

Thus flooding the market,

Thus forcing down the price,

Thus causing a hpc.

Thus leaving the bank in a very sticky situation indeed.

What would you do if you had £300m worth of property?

Ring TTRTR.

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Fact, Prudential (The Financial Institution) bought lots of independent EA (800 branches) in the run up to the last HPI peak 1988/89. They paid an average of £250k to asign the leases and for the goodwill. A lot of Independent EA walked away with a lot of money. Six years later they shut down over half and sold 270 branches to Connells for £1. Yes £1 for the lot, not each branch.

Oh dear!

I'm sure that now a case study at Warwick Business school MBA course!

Pablo Silver or Lead?

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  • 301 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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