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A Jailed Port Talbot property tycoon could have single-handedly brought the town's housing market crashing down. David Dale, who was once regarded as one of the richest men in Wales, owned 450 houses throughout Neath and Port Talbot.

Full story:

THE MILLIONAIRE PROPERTY TYCOON WHO COULD HAVE WIPED THOUSANDS OFF THE VALUE OF YOUR HOME

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Port Talbot has repeatedly shown up in, for reasons that escape me, figures as one of the places for the fastest HP rises in the UK.

As this chap has been buying up loads of property I have to wonder whether he himself has been solely or mostly repsonsible for driving up the prices? If that is the case would it not mean he was driving up the price he was paying - in effect, competing against himself?

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Quote:

A spokesman for Astleys said: "The best way to safeguard house prices in a event like this is to make sure that properties are released back onto the property market slowly."

Little chance of that if the loans are with lots of different lenders - they will all want as much money back as they can get as quickly as possible :)

He's probably the single person behind the 25% increase in property prices anyway :)

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Guest Guy_Montag

The real question has to be whether he'll receive the left over cash once all th properties are sold.

He cannot profit from his crimes. :lol:

Two years for mortgage fraud - we might need to build a few extra white collar prisons. ;)

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"The best way to safeguard house prices in a event like this is to make sure that properties are released back onto the property market slowly."

What utter rot.

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If that is the case would it not mean he was driving up the price he was paying - in effect, competing against himself?

If he was smart, he wouldn't be a BTL.

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and why would anyone want to 'safeguard' the prices anyway

Next time the EAs and the vested interests talk about how much "pent up demand" there is for property to keep prices high, it might be worth thinking about how much "pent up supply" there is out there, from repossessions to BTL sell offs.

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IPG is now working with police and government officials to make sure that the housing market in the area is not adversely affected.
The police?? So now it's the police's job to maintain over-inflated house prices?

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So now it's the police's job to maintain over-inflated house prices?

Yes. Blair has just introduced the Housing Squad, who will swopp down and arrest anyone who offers below asking price anywhere in the country.

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The real question has to be whether he'll receive the left over cash once all th properties are sold.

The money raised from the sale of the repossessed houses is expected to be ploughed back into community policing.

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Yes. Blair has just introduced the Housing Squad, who will swopp down and arrest anyone who offers below asking price anywhere in the country.

:D:D:D

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The police?? So now it's the police's job to maintain over-inflated house prices?

Yes have you not heard a new law is to be introduced making it a criminal offence for not buying an over priced house and being in heavy debt to the bankers.

In 5 years time anyone who is not a bankrupt will be seen as very shady character and should be investigated by the authorities as a possible terrorist to the banking system.

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So he commited his crimes in the 1990s... hmmm.

How long is a crime such as fraud actionable by the authorities?

And, is lie to buy similarily dealt with?

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  • 302 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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