88Crash Posted May 23, 2006 Share Posted May 23, 2006 but we will see. a shame since i know her well being a friends mum, but wowsers. the greed is rife among that generation as regards house prices. she has no idea how someone in a bum northern town is going to pull a £140k mortgage out of a 17k salary. she only ever worked at asda and her husband drove a van. now youd have to be a solicitor to afoord their home. (all within the space of 36 months). strange times. I am actually from ‘that generation’ and I couldn’t agree more One thing that occurs to me is they are greedy with regard to house prices, but they don’t know it Take a bunch of 40+ year olds at a dinner party and the majority will own their own houses (I would typically be the exception) Talk about anything that involves ‘greed’, i.e excessive salaries, scams, council political corruption, dodgy third world governments, overseas aid etc, and the majority won’t approve and will probably condemn it Talk about house prices and mention the fact that they have benefited at the expense of the younger generation and eyes glaze over I’m tempted to use the word greedy, but they just wouldn’t get it and I wouldn’t be invited to many parties Quote Link to comment Share on other sites More sharing options...
Brian Potter Posted May 23, 2006 Share Posted May 23, 2006 this is actually very close to the truth of it. my old ongoing anecdotal about my mates mum and here ex LA house she bought for £45k, on for £140k - no viewings. now £120k with.....no viewings. i said last year after no takers at the £140k mark -"why dont you lower the price ?" "oh - im not giving it away" and i thought. well good luck because im not giving my hard earned savings away either...its a standoff. thing is - they are in debt. im not. i dont HAVE to own a house. they HAVE to settle their debts. they are now struggling on a 40k bridging loan. refusing to list for any less than £120k with no takers and a growing debt burden. plus they are older, so time is NOT on their side on this. they cant wait this out. i think they will break first. my current advice to her. list for £105k and get shut of it - fast. settle the debt and take the £40k profit and count yourselves lucky... but we will see. a shame since i know her well being a friends mum, but wowsers. the greed is rife among that generation as regards house prices. she has no idea how someone in a bum northern town is going to pull a £140k mortgage out of a 17k salary. she only ever worked at asda and her husband drove a van. now youd have to be a solicitor to afoord their home. (all within the space of 36 months). strange times. really could not agree more. My neighbours have had the house on the market for 2 years, give or take. They have dropped the asking price twice and it is still too expensive. They have it up with two estate agents and a letting agency. They even have resorted to putting the property details sheet in the car window parked on the street - the word 'desperation' springs to mind. In all this time they have had maybe five viewings. In this area a realisically priced property would always sell.... but its the stand off thing.'I owe this so you must pay this'. I know who always wins in this stand off. Quote Link to comment Share on other sites More sharing options...
TwentyOneEleven Posted May 23, 2006 Share Posted May 23, 2006 I've been an interested spectator at work as two or three people 'try' to sell their houses... One has had theirs up for almost £300k for 11 months and have only had one or two viewings. Apparently they knocked the price down by £10k a few months ago to try to speed things up, but they won't go any lower "...because the house next door sold for £250k and the people who moved in had to do about £20k worth of renovations, which we've already done, so our's must be worth more!" Another has had their house on the market for three months, having been told by the EA that it would sell within a week, and keeps complaining that the only viewers they get given are "...people who obviously can't afford to buy the place!" Hmm! Quote Link to comment Share on other sites More sharing options...
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