The Masked Tulip Report post Posted May 20, 2006 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 Quote Share this post Link to post Share on other sites
Guest muttley Report post Posted May 20, 2006 It doesn't matter. He's in it for the long term. Prison, that is. Quote Share this post Link to post Share on other sites
The Masked Tulip Report post Posted May 20, 2006 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? Quote Share this post Link to post Share on other sites
Shamus Report post Posted May 20, 2006 Full story: THE MILLIONAIRE PROPERTY TYCOON WHO COULD HAVE WIPED THOUSANDS OFF THE VALUE OF YOUR HOME 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 Quote Share this post Link to post Share on other sites
Time to raise the rents. Report post Posted May 20, 2006 The real question has to be whether he'll receive the left over cash once all th properties are sold. Quote Share this post Link to post Share on other sites
Guest Guy_Montag Report post Posted May 20, 2006 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. Two years for mortgage fraud - we might need to build a few extra white collar prisons. Quote Share this post Link to post Share on other sites
Warwickshire Lad Report post Posted May 20, 2006 "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. Quote Share this post Link to post Share on other sites
MarkG Report post Posted May 20, 2006 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. Quote Share this post Link to post Share on other sites
the end is a bit nigher Report post Posted May 20, 2006 and why would anyone want to 'safeguard' the prices anyway Quote Share this post Link to post Share on other sites
Warwickshire Lad Report post Posted May 20, 2006 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. Quote Share this post Link to post Share on other sites
delboypass Report post Posted May 20, 2006 so what exactly did he do??? doesnt go into much detail over his crimes Quote Share this post Link to post Share on other sites
Scunnered Report post Posted May 20, 2006 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? Quote Share this post Link to post Share on other sites
MarkG Report post Posted May 20, 2006 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. Quote Share this post Link to post Share on other sites
The Masked Tulip Report post Posted May 20, 2006 so what exactly did he do???doesnt go into much detail over his crimes http://www.thisissouthwales.co.uk/displayN...e=sidebarsearch Quote Share this post Link to post Share on other sites
CrashCrash Report post Posted May 20, 2006 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. Quote Share this post Link to post Share on other sites
Catch22 Report post Posted May 20, 2006 Yes. Blair has just introduced the Housing Squad, who will swopp down and arrest anyone who offers below asking price anywhere in the country. Quote Share this post Link to post Share on other sites
Loanshark Report post Posted May 20, 2006 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. Quote Share this post Link to post Share on other sites
Cinnamon Report post Posted May 20, 2006 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? Quote Share this post Link to post Share on other sites
