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You Know It's Happening When....

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Guest grumpy-old-man

people say things like this:

in a shop today & the girl on the counter was talking to her mate (they were both about early twenties) about house prices....

she said she has bought for 108k & next year she is hoping to sell for 153k to clear offher debts :blink: I thought I must have misheard eithe the purchase price or the selling price.

No it was correct as we got talking & I asked her if she thought house prices were going to go up.

What struck me about the conversation was that she had bought the house with no deposit for 108k & needed to get 153k to pay off her debts :o:o

That means she must have 45k of personal debt as well as the 108k mortgage. She said she had just bought it a few months ago.

She works in a mobile phone shop.

what do you make of that ??? she honestly believes that she can make that sort of money on the property without any building work just on HPI alone. I was actually lost for words, which doesn't happen very often!!

ps - the property is in the golden triangle so prices will always remain a lot more bouyant than other areas in the North I suppose, but 50% in a year rendered me speechless, but it must be true because those tv house programs allways seem to make vast amounts of money on the property. :rolleyes:;)

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Guest Shedfish

..and doesn't it illustrate how much the market has been driven by all the wrong things?

opinion (of people who clearly have no sense of anything)

confidence (based on a stirring in the superconscious of the clueless)

government (allowing the whole economy to run on the stupidity of the aforementioned)

media (pandering to all the above)

etc etc

gonna have a lie down...

Edited by Shedfish

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Guest Bart of Darkness

opinion (of people who clearly have no sense of anything)

confidence (based on a stirring in the superconscious of the clueless)

government (allowing the whole economy to run on the stupidity of the aforementioned)

media (pandering to all the above)

Sums the whole mess up pretty well.

Interesting anecdotal by the way grumpy-old-man.

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ps - the property is in the golden triangle so prices will always remain a lot more bouyant than other areas in the North I suppose, but 50% in a year rendered me speechless,

£108k wouldn't get you much in the "golden triangle" though, I would've thought

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Guest grumpy-old-man

£108k wouldn't get you much in the "golden triangle" though, I would've thought

thanks for digging this one out Shedfish, must have been on page 4 with no replies :rolleyes:

I really love anecdotal stuff because you get a true feeling for what is going on in these peoples heads.

FP, yes you are right, although I don't live in York (I work here), I wouldn't imagine it would get you more than a small rundown ex council house or small flat :blink:

I was talking to a lady who runs a shop in the main high street & she said she knows of ex council houses going for 150k :o I'm no snob (I was actually brought up in a council estate), but they are a very different place now-a-days :(

Edited by grumpy-old-man

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thanks for digging this one out Shedfish, must have been on page 4 with no replies :rolleyes:

I really love anecdotal stuff because you get a true feeling for what is going on in these peoples heads.

FP, yes you are right, although I don't live in York (I work here), I wouldn't imagine it would get you more than a small rundown ex council house or small flat :blink:

I was talking to a lady who runs a shop in the main high street & she said she knows of ex council houses going for 150k :o I'm no snob (I was actually brought up in a council estate), but they are a very different place now-a-days :(

Put it this way a council house requiring modernisation near to where i live in yorkshire is £198,000 what colour triangle would this be :(

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Put it this way a council house requiring modernisation near to where i live in yorkshire is £198,000 what colour triangle would this be :(

Sounds like the Bermuda Triangle to me... into which disappears common sense and some poor suckers wages for the next 30 years...

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people say things like this:

in a shop today & the girl on the counter was talking to her mate (they were both about early twenties) about house prices....

she said she has bought for 108k & next year she is hoping to sell for 153k to clear offher debts :blink: I thought I must have misheard eithe the purchase price or the selling price.

No it was correct as we got talking & I asked her if she thought house prices were going to go up.

What struck me about the conversation was that she had bought the house with no deposit for 108k & needed to get 153k to pay off her debts :o:o

That means she must have 45k of personal debt as well as the 108k mortgage. She said she had just bought it a few months ago.

She works in a mobile phone shop.

what do you make of that ??? she honestly believes that she can make that sort of money on the property without any building work just on HPI alone. I was actually lost for words, which doesn't happen very often!!

ps - the property is in the golden triangle so prices will always remain a lot more bouyant than other areas in the North I suppose, but 50% in a year rendered me speechless, but it must be true because those tv house programs allways seem to make vast amounts of money on the property. :rolleyes:;)

Talking to an agent the other day - one local investor has 49 properties currently being repossessd! and this is in the Golden Triangle !!!!

Lou

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Guest Shedfish

Talking to an agent the other day - one local investor has 49 properties currently being repossessd! and this is in the Golden Triangle !!!!

Lou

..so now it's a Golden Orthorhombus at best...

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Guest Bart of Darkness

Sounds like the Bermuda Triangle to me... into which disappears common sense and some poor suckers wages for the next 30 years...

:lol: (but also a bit :( as well)

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This is the sort of person we need for a HPC. Someone gearing expecting profits to clear their debts only to find they are being squeezed and HPI isn't happening. When the banks really tighten this person will be squeezed to the pip

and alas forced sales start!!

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Ponzi economics.

Those who are responsible for driving the market will have alot of nasty questions to answer when it blows up.

Now come on! When was the last time you saw or heard anyone in this country, at any level in society, take responsibility for anything?

shavedchimp

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Guest grumpy-old-man

I have just read that article....

great isn't it....when people that have no idea about property telling their friends the shelf stackers to buy now, then it's past the time to sell at the top.

Like the statement at the bottom of the article about the "shoe shine boy"

It's all starting to unfold nicely :)

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colleague sold his ex-council place to a developer last year round the corner from me and developer sold it on after refurb fro £289k!....Small 3 bed semi on ''saints'' estate in Harrogate........near the shops on St Winifreds road if you know the area......

one of only 4 council places on a nice sought-after estate....

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Talking to an agent the other day - one local investor has 49 properties currently being repossessd! and this is in the Golden Triangle !!!!

Lou

..so now it's a Golden Orthorhombus at best...

Sounds like a triangle gone pear-shaped - a kind of equa-no-co-lateral traingle if you will?

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Guest grumpy-old-man

you know it's happening when.....

the usual "upbeat" & "carefree" Declan Currie, BBC's financial/stock market presenter is looking decidedly po-faced of late ;)

he even used the big red postbox to cover the big loss today on the stock market :lol:

I have watched this guy for a fair few years now & I've noticed a change in his demina, or am I just grabbing at straws :rolleyes::P

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Guest Shedfish

Sounds like a triangle gone pear-shaped - a kind of equa-no-co-lateral traingle if you will?

:D i think that's called a bell end :)

what is 'land ownership' anyway -

do they know nothing of plate tectonics... heisenberg..?

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What struck me about the conversation was that she had bought the house with no deposit for 108k & needed to get 153k to pay off her debts :o:o

That means she must have 45k of personal debt as well as the 108k mortgage. She said she had just bought it a few months ago.

She works in a mobile phone shop.

Clearly I'm in the wrong job!

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Guest grumpy-old-man

Clearly I'm in the wrong job!

what gets me BB was her firm belief & utter conviction as to how she percieved the housing market would make her 50k net in a year. I mean someone at home should be telling her that she hasn't a chance, but hang on a minute her mam & dad (northern expression ;) ) are watching that new prog "Pyramid House Profit" where you buy a house in any condition at any price & it doubles in value in a year :rolleyes:

You ask the aveage sheeple right now & you get the "well prices are high BUT I reckon they will go much higher still" comments.

I don't think you could get this kind of incompetence anywhere else.....hang on a minute.....local government & central govenrment :blink:;)

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Put it this way a council house requiring modernisation near to where i live in yorkshire is £198,000 what colour triangle would this be :(

Or the 2 bed one in Cookham for £375,000 ? Yikes, it's not even the nice end of Cookham.

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Guest grumpy-old-man

Or the 2 bed one in Cookham for £375,000 ? Yikes, it's not even the nice end of Cookham.

please tell me your kidding right ? for an ex council 2 bed semi ? :o:o

if this is true, then it's no wonder more southerners are moving north, we have noticed there are a lot more in our area than 5 years ago.

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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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