huw Posted June 11, 2007 Share Posted June 11, 2007 News clip Quote Link to comment Share on other sites More sharing options...
Guest casaloco Posted June 11, 2007 Share Posted June 11, 2007 The developers "feel terrible" for the people wh paid $300,000 for identical houses a few weeks before but $145,000 was a fair market value.... Altogether..... POP! Quote Link to comment Share on other sites More sharing options...
Frank Hovis Posted June 11, 2007 Share Posted June 11, 2007 News clip A must see. The outrage of the people who bought a few weeks back is a joy to behold. Market value = the price the market will pay. Learn the rules. Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted June 11, 2007 Share Posted June 11, 2007 A must see. The outrage of the people who bought a few weeks back is a joy to behold.Market value = the price the market will pay. Learn the rules. Soon to be seen in the development down your street. Quote Link to comment Share on other sites More sharing options...
music man Posted June 11, 2007 Share Posted June 11, 2007 Bump... I'd be unhappy if that happened to me - and that is why I read HPC.co.uk. $300K to $145K in no time at all. The system is corrupt - poor fookers. Quote Link to comment Share on other sites More sharing options...
HenryWeston Posted June 11, 2007 Share Posted June 11, 2007 They told us they wouldnt go below market value LOL, they are selling at the NEW maket value Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted June 11, 2007 Share Posted June 11, 2007 there are no words that do this justice Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted June 11, 2007 Share Posted June 11, 2007 Read an article today about a couple in Florida, meagre earnings - one was giving violin lessons to local children. Problem - 10 of her students had gone, the families had upped and left, rapidly rising taxes associated with HPI and other costs had driven them out. Florida is a low wage economy. Low wages and high costs = disaster for many. I bet the investors didn't give a damn about the knock on effects. Now who actually turns up to an auction like that unless they are buying, new owners or investors, my bet is the latter. How dare they do that? We were promised yada, yada, yada. Obvious not looked at the loan reset schedule, this thing has hardly gotton off the ground yet. Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted June 11, 2007 Share Posted June 11, 2007 Managed to find it again............ http://www.sptimes.com/2007/06/11/State/Su...sn_t_pay_.shtml Sunshine doesn't pay the bills Second of two parts: Signs of an exodus are here. Some blame the real estate slump; others aren't so sure. By DAN DEWITT Published June 11, 2007 photo Cynthia Jolley and her husband Walter Hause had a yard sale at their Thonotosassa home in preparation to move to Tennessee. Where are they all coming from? Peggy Castro, 51, works to pack up their belongings at her St. Petersburg home. Castro and her husband are moving to Georgia where their homeowners insurance will be a tenth of what it is in Florida. U.S. News Video THONOTOSASSA - The half-dozen child-sized violins lined up on Cynthia Jolley's driveway were once played by students at her Temple Terrace music studio. She closed the studio in October because of increasing expenses and declining enrollment - including 10 students whose parents either left the state or told her they planned to. By last month, the violins had become yard-sale fodder to unload before she and her husband, Walter Hause, move to her hometown in central Tennessee. "Actually, if we stayed, we wouldn't have had anybody to teach, " Jolley, 40, joked. "It seemed like we were losing everybody." So it is across the state. Squeezed by rising property taxes and homeowners insurance rates, and frustrated by crowded roads and schools, increasing numbers of residents are moving from Florida, which since World War II has been one of America's favorite states to move to. To be sure, Florida remains a strong lure, particularly for retirees, but evidence is mounting that the migration boom it experienced in the first half of the decade is over: Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted June 11, 2007 Share Posted June 11, 2007 we are heading to a 2-tier society - those who are starting to realise they are struggling and losing money, and those who are debt free Quote Link to comment Share on other sites More sharing options...
Sparker Posted June 11, 2007 Share Posted June 11, 2007 Oooh that was nice. As heart warming as a hot mug of cocoa on a winters night Quote Link to comment Share on other sites More sharing options...
backtoparents Posted June 11, 2007 Share Posted June 11, 2007 And I'm spent..... Anybody fancy a cigarette? They should make good starter homes for young families - and remove some surplus cash from greedy speculators. Magic! btp Quote Link to comment Share on other sites More sharing options...
LargelyIgnorant Posted June 11, 2007 Share Posted June 11, 2007 It's almost as if the developer didn't actually care about the knock on effect on the values of the houses they had already sold - who'd have thunk it? Quote Link to comment Share on other sites More sharing options...
joey Posted June 11, 2007 Share Posted June 11, 2007 News clip mazing would love the BBC to show this. I feel sorry for anyone who has paid top dollar on a new build in this country as unsold developments will go the same way. Very Entertaining and how I love market economies. Quote Link to comment Share on other sites More sharing options...
IDN Posted June 11, 2007 Share Posted June 11, 2007 LOL, they are selling at the NEW maket value excellent line mate Quote Link to comment Share on other sites More sharing options...
lets get it right Posted June 11, 2007 Share Posted June 11, 2007 Ha ha! It appears we're all a bunch of nasty bar-stewards really. But not as nasty as the f*uck-awful, blood-sucking parasitical larks' vomit BTL investors like Rosie 'fu*ck the young generation' whatever her fu*cking name is. Quote Link to comment Share on other sites More sharing options...
HPC Convert Posted June 11, 2007 Share Posted June 11, 2007 News clip It was very funny to watch the guy who had paid $300k spew over the fact that presumably identical homes were sold for $145k shortly afterwards. If he was being reposessed i would have sympathy, but as it is he was just livid that he had done a bad deal. The woman who complained of a lack of loyalty from the developer was priceless. Great clip!!! Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted June 11, 2007 Share Posted June 11, 2007 Huw, can I just congratulate you and say thanks for one of the best finds I've ever seen on here, keep it up Fukc me it's carnage over there D'ya know what was ace? The news reader saying it was FTBs winning at the auction..Yeesss! Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted June 11, 2007 Share Posted June 11, 2007 come on Pluto 2p worth please Quote Link to comment Share on other sites More sharing options...
huw Posted June 11, 2007 Author Share Posted June 11, 2007 Huw, can I just congratulate you and say thanks for one of the best finds I've ever seen on here, keep it up Fukc me it's carnage over there D'ya know what was ace? The news reader saying it was FTBs winning at the auction..Yeesss! Glad it's being enjoyed, it made me laugh out loud the first time I watched it Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted June 11, 2007 Share Posted June 11, 2007 Glad it's being enjoyed, it made me laugh out loud the first time I watched it The aging Bruce Willis 'dude' is busily changing into his off grey t -shirt as we speak, someone is going to pay. Good script for the next Holywood blockbuster Here's the website for the development, http://www.fisherauction.com/events/6850/6850.htm Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted June 11, 2007 Share Posted June 11, 2007 Glad it's being enjoyed, it made me laugh out loud the first time I watched it That video is dynamite, it encompasses so much about the bubble, the mentality, the players. What is most unnerving is the attitude of the presenters and approach of the presenters. Quite surreal. If you submit it to these sites I reckon you'll have your name in lights. http://housingpanic.blogspot.com/ http://immobilienblasen.blogspot.com/ Quote Link to comment Share on other sites More sharing options...
huw Posted June 11, 2007 Author Share Posted June 11, 2007 Here's the website for the development, http://www.fisherauction.com/events/6850/6850.htm OMG, having seen the pics, the place is much much worse than I ever imagined. Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted June 11, 2007 Share Posted June 11, 2007 Managed to find it again............http://www.sptimes.com/2007/06/11/State/Su...sn_t_pay_.shtml Sunshine doesn't pay the bills Second of two parts: Signs of an exodus are here. Some blame the real estate slump; others aren't so sure. By DAN DEWITT Published June 11, 2007 photo Cynthia Jolley and her husband Walter Hause had a yard sale at their Thonotosassa home in preparation to move to Tennessee. Where are they all coming from? Peggy Castro, 51, works to pack up their belongings at her St. Petersburg home. Castro and her husband are moving to Georgia where their homeowners insurance will be a tenth of what it is in Florida. U.S. News Video THONOTOSASSA - The half-dozen child-sized violins lined up on Cynthia Jolley's driveway were once played by students at her Temple Terrace music studio. She closed the studio in October because of increasing expenses and declining enrollment - including 10 students whose parents either left the state or told her they planned to. By last month, the violins had become yard-sale fodder to unload before she and her husband, Walter Hause, move to her hometown in central Tennessee. "Actually, if we stayed, we wouldn't have had anybody to teach, " Jolley, 40, joked. "It seemed like we were losing everybody." So it is across the state. Squeezed by rising property taxes and homeowners insurance rates, and frustrated by crowded roads and schools, increasing numbers of residents are moving from Florida, which since World War II has been one of America's favorite states to move to. To be sure, Florida remains a strong lure, particularly for retirees, but evidence is mounting that the migration boom it experienced in the first half of the decade is over: TBH, this is the downside of unregulated planning permission. It is unlikely that this will happen (wholesale abandonment of areas) in the UK (other than Thamesmead which is rather like these newly thrown up places). Labour talk about "building sustainable communities" is actually common sense and prevents this sort of mess. New housing needs to be either planned or allowed to grow organically (i.e. people build their own homes in hamlets which grow into villages, towns etc). Allowing speculators to spew new towns across the land at will is a recipe for disaster. Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted June 11, 2007 Share Posted June 11, 2007 News clip The ignorance of markets from people who are assuming massive leveraged positions in housing is simply breathtaking..... Quote Link to comment Share on other sites More sharing options...
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