Friday, November 16, 2007

This is going to be the BTLoser “black weekend”, oh I am so soooorry

Homeowners brace themselves for a cold front on the property market

Anne Ashworth and Judith Heywood, who just 2 WEEKS AGO were adoring the landbitch Rosie Miller, now write: "The pain of the property market slowdown of 2008 will not be equally shared. The rich, in homes of £2 million-plus, may barely notice the downturn and could become richer, while the relatively poor could become even poorer. Most economists and estate agents are forecasting that homes worth £350,000 or less in all areas will be those hardest hit in the slowdown." OK, this defies any logic but what do you expect. I post more links about the BTL black weekend in the comments

Posted by confused76 @ 08:22 PM (1325 views)
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11 thoughts on “This is going to be the BTLoser “black weekend”, oh I am so soooorry

  • The most comprehensive picture of the gloom awaiting some homeowners next year is revealed today, as experts say the value of millions of homes will fall. The wealthy will lose out as weak bonuses fail to lift the housing market, but those at the other end of the scale will suffer even more from lenders declaring an end to easy credit. Those in Britain’s new “pockets of pain” will be owners of homes worth below £350,000; owners of homes selling for between £1 million and £2 million in London and the South East; and those in any suburbs made popular by their proximity to a smarter area, estate agents say.

    http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2886536.ece

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  • Is Kirsty Allslopp eating her hat yet? She did promise …

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  • Home Sweet Home
    Property is cheap at twice the price, so do not buy to fret So we are destined for a stonking great crash in the housing market, are we? Or is this just another conspiracy theory spun by kill-joy pointy-heads too short-sighted and too grumpy to understand the one law of gravity Newton evidently missed: “What goes up like house prices, must go up lots more.”

    http://www.timesonline.co.uk/tol/comment/leading_article/article2886335.ece

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  • And lastly…. my favourite piece of news, what I have been saying for 2 years now
    YEEEEEEEEEESSSSSSSSSS!!! HIPPPYEEEEEEEEE!!! AHAHHAHHAHAHHAHAHAHHAHAH

    Lenders may not pass on rate cuts

    “Homeowners will miss out on the full benefit of interest rate cuts next year because mortgage lenders are planning to tighten their belts in response to the credit crunch. The Bank of England signalled earlier this week that interest rates could be cut twice by next summer, but mortgage lenders have indicated that they may refuse to cut their standard variable rates (SVR) in turn, as they try to protect their profit margins”
    http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2886568.ece

    UAHAHHAH AHHAHHA HAHHAH Ahahahhaha hahahahhahahhha

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  • crash bandicoot says:

    Home sweet home ?????? What a puzzling article. I can only assume that the authour is heavily into BTL and has cracked under the strain. As far as I can tell the message is that “It’ll all be alright in the end” “just as long as we hang on in there”. Otherwise it is suggesting that it’s not that bad to buy houses at inflated prices – you won’t lose that much anyway. I really don’t understand it at all, I guess that I’m not part of the target audience.

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  • crash bandicoot says:

    I’ve just read the first article too, what nonsense. So the market for poor people will fall apart but the middle classes can carry on in their period dez rezzes, insulated from market forces. So when the 5 bed house round the corner is up for £120k your georgian maisonette will still be “worth” £450k……. no I don’t get this one either – is the third a better read?

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  • crash bandicoot says:

    Yessssssss that’s better. I was hoping for a quote from Ray Boulger because he always makes me laugh with his ironic comedy. Sadly this time even he was talking sense. There was even a Led Zeppelin ad on the page, how appropriate.

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  • I-could-mrdr-a-blt says:

    Requesting permission to rant?

    Thanks

    Slight VI clearly(wealthy?).

    History shows that when the market turns it turns.

    And owe my god there is a long way down!

    This is a typical investement breakdown, once the money runs out thats it. GAME OVER!!

    Bring on a bit of cummupance-but I dont really need to tell you here, Just makes me feel good.

    Wooooooohaa

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  • There are £1.2 million houses in surrey which only 3 years ago went for a third of that amount.
    Are they telling me that these will be untouched by the downturn? Preposterous.

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  • So posh houses go up in the upswing, stay up in the downswing and wait for the next upswing. If that were the case all houses would be worth either below £350,000 or £ millions, with little or nothing in between.

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  • Paul, if Kirsty Allslopp is eating her hat, can I S**t in it first!

    Apologies for any offence caused by the statement above, but I couldn’t resist.

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