Friday, April 25, 2008
Housing capitulation in the media!!
Housing gloom: the silver lining
The silver lining for me is very simple. I will buy the same house in 2 years for 30% less!!!! "The storm clouds looming over the housing market grow darker every day. But for some aspiring homeowners there could be a silver lining, with bargains emerging as asking prices tumble and sellers become ever more desperate to get properties off their hands" " Council of Mortgage Lenders predicts that more than 45,000 homes will be repossessed this year, against 27,100 last year" Propertysnake.co.uk, a website that monitors falling prices, says that some desperate vendors have reduced asking prices by as much as 44 per cent as the credit crisis has worsened" this is fanztztaztix!!
Posted by confused76 @ 10:55 PM (867 views)
3 thoughts on “Housing capitulation in the media!!”
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paul says:
There seems to be an awful lot of “new faces” writing very optimistic storied in the Times about property.
Just an observation.
An Bearin Bui says:
It’s a shame they finish the article up by citing the example of a couple who ‘bagged a bargain’ for 152k. I thought initially – well done, great to see a young couple getting a bargain of 50k off.
Then it says that they own a property ‘business’ and are planning to do it up and sell it on for 240k!!! Some people really cannot see the most obvious facts staring them right in the face, can they? They bought it at a knockdown price at auction, the owner was glad to get it off his hands and the numpties still think that they’re going to flip it for 100k profit – Christ, these “Property Ladder” type morons will just keep on digging themselves into a leveraged hole until they and everyone they know is bankrupt I think.
Duncan says:
“An Bearin Bui said…
It’s a shame they finish the article up by citing the example of a couple who ‘bagged a bargain’ for 152k. I thought initially – well done, great to see a young couple getting a bargain of 50k off.
Then it says that they own a property ‘business’ and are planning to do it up and sell it on for 240k!!! Some people really cannot see the most obvious facts staring them right in the face, can they? They bought it at a knockdown price at auction, the owner was glad to get it off his hands and the numpties still think that they’re going to flip it for 100k profit – Christ, these “Property Ladder” type morons will just keep on digging themselves into a leveraged hole until they and everyone they know is bankrupt I think.”
I thought exactly the same thing myself. If they are prepared to wait 18 years (by which time they will have to fit a new trendy coloured bathroom) they might just manage it 🙂