Willy Weasel Posted June 9, 2007 Share Posted June 9, 2007 Just returned from holiday to find three letters from a local agent informing of price reductions on three houses on their books. Reductions on all three of about 30K. Checked www.propertysnake.co.uk to find that a property in the same road as the house I sold has been reduced by 10K. Yum yum - lots of lovely bear food. Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted June 9, 2007 Share Posted June 9, 2007 just returned my child to the ex - 3 on her cul-de-sac up for sale - apparently the going period for a sale is currently 8 months Quote Link to comment Share on other sites More sharing options...
A Fool & His Borrowed Money Posted June 9, 2007 Share Posted June 9, 2007 But!But! There's a housing shortage Quote Link to comment Share on other sites More sharing options...
Willy Weasel Posted June 9, 2007 Author Share Posted June 9, 2007 CORRECTION I've just checked propertysnake and the price reductions are actually between 50K and 65K Quote Link to comment Share on other sites More sharing options...
A Fool & His Borrowed Money Posted June 9, 2007 Share Posted June 9, 2007 CORRECTIONI've just checked propertysnake and the price reductions are actually between 50K and 65K But!But! House Prices only ever go up Quote Link to comment Share on other sites More sharing options...
Fool's Gold Posted June 9, 2007 Share Posted June 9, 2007 But!But!There's a housing shortage Note: Not intended as a dig or otherwise at 'A Fool & His Borrowed Money' ! No no, there's an affordable housing shortage. Listen to politicians when they go on about houses, they do use that word 'affordable' in there, so in the future they can never be accused of saying there was a 'housing shortage' by the ones (with houses) who vote for them (hopefully) when house prices drop. Hypothetical post house price fall scenario : Voter : But you said there was a housing shortage thus sustaining my 'house price' ! Politician : No, I said there was an affordable housing shortage. Voter : What's the difference ? Politician : I reckon about minus £80,000 difference now on your property since the rate rises, buy-to-letters flooding the market and no first time buyers getting back into the market. Still it's sorted the affordable housing shortage a bit. By the way thanks for voting me in for another 4 years. Next ! Quote Link to comment Share on other sites More sharing options...
@contradevian Posted June 9, 2007 Share Posted June 9, 2007 Note: Not intended as a dig or otherwise at 'A Fool & His Borrowed Money' !No no, there's an affordable housing shortage. Get this all the time where I live. "the government should build more affordable housing." " "Affordable" is politician code for "not overpriced." No politician or government is ever going to go on record and call for a house price crash, anymore than they will call for a stock market crash. They won't even say that houses are overpriced (though doubtless many will think it). They would loose votes from the property owning classes and be branded as irresponsible. Quote Link to comment Share on other sites More sharing options...
Fool's Gold Posted June 9, 2007 Share Posted June 9, 2007 (edited) Get this all the time where I live. "the government should build more affordable housing." " "Affordable" is politician code for "not overpriced." No politician or government is ever going to go on record and call for a house price crash, anymore than they will call for a stock market crash. They won't even say that houses are overpriced (though doubtless many will think it). They would loose votes from the property owning classes and be branded as irresponsible. Yup I agree. The phrase 'affordable housing' suits both the home owners and those priced out, just what politicians need.. one phrase fits all ! Edited June 9, 2007 by Bill Quote Link to comment Share on other sites More sharing options...
House of Lords Posted June 9, 2007 Share Posted June 9, 2007 Get this all the time where I live. "the government should build more affordable housing." " "Affordable" is politician code for "not overpriced." No politician or government is ever going to go on record and call for a house price crash, anymore than they will call for a stock market crash. They won't even say that houses are overpriced (though doubtless many will think it). They would loose votes from the property owning classes and be branded as irresponsible. They would also lose a considerable amount on their BTL portfolios Quote Link to comment Share on other sites More sharing options...
alex228 Posted June 9, 2007 Share Posted June 9, 2007 They would also lose a considerable amount on their BTL portfolios I wonder whether these with property put it on sale now. this would mean something starting with "C" is well on the way Quote Link to comment Share on other sites More sharing options...
ChinaReader Posted June 10, 2007 Share Posted June 10, 2007 I wonder whether these with property put it on sale now. this would mean something starting with "C" is well on the way Beacuse politicians have more foresight than the general public... Oh no wait. Quote Link to comment Share on other sites More sharing options...
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