The housing market must be due a slump: the Pru announced a $1bn rights issue this morning.[1] Last time it did that was the back end of '87, to fund their foray into estate agency. £425 million later, they decided that maybe it wasn't such a great idea, after all. That said, I bought a flat in November '88, which, as smart moves go, wasn't. [1] Just htf am I supposed to lay my hands on £6k by November 11th? -- | ___ Salad Dodger |/ \ _/_____\_ GL1500SEV/CBR1100XXX/KH500A8/TS250C |_\_____/_| ..73063../..16589.../..3180./.19406 (>|_|_|<) TPPFATUICG#7 DIAABTCOD#9 YTC#4 PM#5 |__|_|__| BOTAFOT #70 BOTAFOF #09 two#11 WG* \ |^| / IbW#0 & KotIbW# BotTOS#6 GP#4 \|^|/ ANORAK#17 IbB#4 '^'
Using the patented Mavis Beacon "Hunt&Peck" Technique, Champ <removes hat> It'd be a better world if more people thought that way. -- Nigel - Manufacturer of the "Champion-105" range of rearsets WS* GHPOTHUF#24 APOSTLE#14 DLC#1 COFF#20 BOTAFOT#150 HYPO#0(KoTL) IbW#41 ZZR1100, Enfield 500 Curry House Racer "The Basmati Rice Burner", Honda GL1000K2 (On its hols) Kawasaki ZN1300 Voyager "Oh, Oh, It's so big"
Yes I did. He's not a "mate", though I would be a more fortunate person if I could count him among my friends. He's a bloke I've bought three bikes from, and liked a lot. Extremely personable and knowledgeable, and honest and genuine. I wouldn;t expect him to "see me alright" with the deposit: 1. There's a due legal process to go through, 2. It's only a hundred quid, and 3. He probably needs it more than I do.
What about poor quality ones No it's as I thought, a scan through MCN last night shows there are loads available. I guess I'll have to either bite the bullet and hope I get a good discount on a newer bike, or succumb to the will of the tyre kickers.
Dear Mr DoDgeR ThiS leTter may come As A sur Prise to yoU, buT i Found YourName in a bUsineSs directory. I am the ManageR of The All AfRica Bank and....
True there appear to be less 750s. Would you think an unusual colour would help or not? It's a standard Suzuki colour scheme, just not the bog standard Blue & White one. I prefer it but I would think from the number of blue/white ones out there I'm in the minority. Cheers
I was talking about the difference between rent on a property you would buy now, not something you bought several years ago. Keep your head in the sand. Phil.
Um... maybe I'm confused, but I can only see that if you're doing an interest only mortgage If you're paying capital and interest there _has_ to be a point where the payments become less affected by interest and more by how much you owe - especially if you're overpaying on the captial side. As we've ascertained, you appear to have more than the average person's share of luck ;-)
Rents have been coming down across the board for a few years now - no luck involved at all. there are far more vacant properties out there than there are tenants to fill them. Many people feeling BTL was a cash cow that they could invest in to supplement their income are now strongly considering getting out of the market. We will see a flood of cheap properties coming onto the market as those with second mortgages by no tenants to cover it need to make a quick sale. This is just one of a number of reasons why we will see a crash in property prices. Phil.
I'm sorry Phil, but ime you're talking big, fat, hairy, sweaty elephant's bollocks. Rents in Beds, Herts and Bucks have been rising steadily for the past couple of years, to the extent that we'd be looking to shell out at least a hundred a month more if we had to move, and more likely a couple. We keep an eye on the market locally in case the shit hits the fan, or more to the point in case a better place for less money comes up, but that just isn't going to happen, sadly for us. So your massively sweeping generalisation is wide of the mark.
Well it was a generalisation, and across the UK as a whole it is true. There will always be hot spots, so I stand by what I say. Your local evidence is no proof as to what is happening in the UK as a whole. I do know what I'm talking about here. You only have to check the property pages over the last twelve months to see that there has been a large increase in the number of properties advertised to let. Landlords and agents are *generally* struggling to get them filled. This is the general picture accross the UK, I wasn't describing specifically the area you happen to live in. There's too many people with too much to gain/lose whose opinions are grossly tainted by their own personal circumstances. I have nothing to gain or lose personally by a rise or fall in house prices (ignoring knock on effects), but it is something I have been folowing closely for about 2 years. Phil.
Oh, and just so you know I'm not spouting hot air, here's the hard cold facts if you care to take the time to read it: http://www.ipdindex.co.uk/downloads/indices/Residential_2004.pdf Phil.
Pip wrote I have two sources of information on this one. One from #1 Son, who is in that market and another from someone who sells mortgages. Both report a slowdown in that market in this area.
If you want to describe three significantly populous counties in England as an isolated "hot spot" then carry on. I wasn't presuming to offer evidence as to the UK as a whole - you were doing that. We do check the property pages, as well as estate agents both local and distant as we like to know what is going on in the rental market. Whilst I would not deny that you know what you're talking about in a general sense, my point was that you may not be aware of my particular neck of the woods. I have, TBH, little interest in national trends and restrict my research to that which may effect me personally. BTL is thriving here and I believe in the Home Counties generally, according to my friend the HSBC area manager and his mates in Building Societies. I would guess that figures are available for types of mortgage, but I CBA to look for them. There is no sign of satiation in the rental market here - nor of rents dropping. If there were, I'd be negotiating with our agent and landlord for a decrease in our rent, but I'm quite happy to stay schtum atm and hope they don't remember that we're paying ~25% below what appears to be current market rates by my research. Not being in the position to be able to buy a house, I don't really GAF about prices - however, it is impossible to ignore the tickets on houses in the local papers which indicate a rise of at least 50% in the last two years: a trend which shows no sign of slowing. The (very) local new-build properties currently on the market have found buyers apparently quickly and easily at what seems to me to be exorbitant prices and poor VFM. Even the houses in our village built and occupied for the first time last year are selling for 15 - 20% profit after 6 -12 months occupancy, which is in contrast to the (I'm led to believe) more usual loss of 10 - 15%. As a complete aside, when sitting down to roll a fag I often flick the telly on for a few minutes in the mornings. All that seems to be on recently are programmes on relocation. The part of these programmes that I find "interesting" is the input from the estate agents approached by the presenters and their tales of house price inflation. A figure of 200% in 24 months on and around Anglesey was a little shocking, but they generally witter about 20 - 25% in the past 12 months.
But aren't you assuming there that the vast majority _need_ to sell - as opposed to desire to sell? Anyway, as mentioned elsewhere, currently I am paying less than I would be paying to rent. As it is I'm quite happy in my house - I don't want to see the prices drop, but considering I officially have 24 years left to run on my mortgage (and historically that takes us back to 1979) I don't actually GAF. Putting SOME of the money into something, rather than just giving it ALL to someone else still makes a lot more sense to me. And whilst it's reasonable to post links, there are numerous other links countering that - the papers are full of counter views and doom sayers - all that happens is what happens if you ask me. I'm not going to lose sleep over it - keeping my job is far more of an issue to me than house prices!
Well this is waht worries me - the knock on effect. I personally will gain nor lose if property prices move either way. I do believe there will be a crash though, yet I don't want that to happen. Evidence shows a house price crash combined with the large consumer debt in this country could lead to one major recession, this further would lead to rise in unemployment. The repurcussions could be massive. Phil.
