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Studioman View Drop Down
Yardie
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Studioman Quote  Post ReplyReply Direct Link To This Post Posted: 09 Jan 08 at 21:30
Agree with 104, a great debate and lots of interesting points from everyone. It is such an emotive thing as you say 104, and so very wrapped-up in the minds of our country now and I think that's where the problem lies. I heard on radio2 today that the average truly disposable income is just 2% of total net earnings! can you believe that? I had to listen twice to believe it! Most are on the treadmill in this country from leaving school to retiring and all to buy a tiny little place that actually, by and large we're not especially proud of. I think it's right that people should want and aspire to more but it really is difficult for most people to start up now.

In Montpellier, France where my relatives live there are no such problems and in a few years time I shall move out there. I love my country but hate the way it's going. If property crashes I reckon it'll be a good thing for most people. It will hit the speculators hard, but people with a property for use a home will just stay put and live in them!

 
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landyspeed View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote landyspeed Quote  Post ReplyReply Direct Link To This Post Posted: 09 Jan 08 at 21:45

Hi Studioman,

Agree with all you say.....

Where the hell did our country go wrong so that most of us wish or dream to move away?, the trouble is ultimately the ones who leave our country are those who should be taking it into the future????

Years ago ( approx 20!) buying things on credit was called on "the never never" and only a few people did it. How different it is now with every age of society from students with huge debt levels to elderly people on equity release schemes with vast amounts of loans are aspiring to spend their money as quickly as possible.

I have never understood where the physical money has come from for these schemes? can anyone shed any light? (other than jokes about VW Main dealer owners!! bailing out the banks)

 

all the gear no idea!!!!
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Tim Hamnett View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tim Hamnett Quote  Post ReplyReply Direct Link To This Post Posted: 09 Jan 08 at 22:00
I think the point to remember is that if you are buying a house to live in,
a rise in house prices is not going to benefit you. Yes you may have equity to borrow against, but unless you are selling up with no intention of buying again, you will not see any real profit.
Yes, your house is worth three times as much, but so are all the other houses.
The only people who benefit, are those who have got into the market with the intention of getting out again and taking their profit with them.


Edited by Tim Hamnett
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starsKEY View Drop Down
Yardie
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Post Options Post Options   Thanks (0) Thanks(0)   Quote starsKEY Quote  Post ReplyReply Direct Link To This Post Posted: 10 Jan 08 at 16:56

Many points well made here, I should have known better of this place than to expect to get shot down - refreshing forum eh!

We're not speculating with our house build, we just knew what we wanted and it wasnt available for what we wanted to spend (actually, it just wasnt available, I wanted a HUGE garage/workshop office that looked like stables - by huge I mean bigger than the pretned garage I had at my old place - biggest car I got in was my golf the day we moved when everything else was taken out!). We've been in rented for a year now whilst the build/planning/faffing is ongoing - again, sucking it up and just getting on with it because we wanted, rather than moaning about what we wanted not being affordable. In doing this we have somehwat protected ourselves from negative equity, as in general terms if you build a place yourself, you do it cheaper than paying for the developers to build it, or for the same property that you can move straight into. I think inwardly, everyone has been expecting a crash for a while, but simply ignoring it.

Im glad Im not the only one who makes the observations about the kit and lifestyles of some renters!

As for a dual society, I think we're already there. Its nothing to do with house prices though - all about the attitude!

I feel the need to point out that Ive just turned 30 by the way, not sure why (why I feel the need that is, I fully understand the concept of getting older!) but thought I may be coming accross as a bit of a miserable old tw*t ranting about youngsters nowadays!

30 is still young isnt it?

It is....

Its not Aircooled, It's Airconditioned.
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Studioman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Studioman Quote  Post ReplyReply Direct Link To This Post Posted: 10 Jan 08 at 17:34

30 is still young isnt it?

30's the new 20 they say, but then I would also say that seeing as I'm 47!

Mind you, so is Hugh Grant and George Clooney

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sanchez View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sanchez Quote  Post ReplyReply Direct Link To This Post Posted: 10 Jan 08 at 17:46

 

holly shit.

t5 drivers in the uk have some serious issues with their country.

try living in ireland.

huge inflation. downward spiralling economy. no natural resources. to many ties to the united states. shit football team.

it all hurts.

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Tim Hamnett View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tim Hamnett Quote  Post ReplyReply Direct Link To This Post Posted: 10 Jan 08 at 18:27
I thoroughly approve of self build, and would definitely go that way myself given the chance. I think if you've put the effort in, and you end up with something worth more than you've spent, then good on you.
It is a very emotive topic, and people can get very defensive about it.
Buy to letters have driven both purchase and rental prices up, but you cant expect people to steer clear of money making opportunities purely on principle.
The crux of the matter is that not so long ago lenders would generally only lend something like 3-31/2 times earnings. They did this for a reason. Looking in the local paper, the majority of regular jobs advertised round here are paying less than £20,000. A normal terrace on our street costs in the region of £120,000. It is simply an untenable situation for a lot of people.
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Studioman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Studioman Quote  Post ReplyReply Direct Link To This Post Posted: 12 Jan 08 at 15:00

 


you can why there's a problem when you look at this graph, wages just have to catch up sometime!




Edited by Studioman
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104T28 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 104T28 Quote  Post ReplyReply Direct Link To This Post Posted: 13 Jan 08 at 10:57
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sanchez View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sanchez Quote  Post ReplyReply Direct Link To This Post Posted: 13 Jan 08 at 11:57

 

the problem with france.

is that its full of french.....

a t5 is for life not just for christmas.
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Studioman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Studioman Quote  Post ReplyReply Direct Link To This Post Posted: 13 Jan 08 at 12:51
Originally posted by sanchez sanchez wrote:

 

the problem with france.

is that its full of french.....



people always say that don't they?
But to be honest I've never had a problem with them.....it's when I get home all the problems start! ...ignorant, loud, brash morons with nothing on their minds but bling, celebrity culture and greed. The french, by and large keep themselves to themsleves, are all for the family and still have real dignity and humility. I love my country but to be honest I'm always happiest in france, they have so so much of what we have lost for good.

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sanchez View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sanchez Quote  Post ReplyReply Direct Link To This Post Posted: 13 Jan 08 at 16:48
Originally posted by Studioman Studioman wrote:

Originally posted by sanchez sanchez wrote:

 

the problem with france.

is that its full of french.....



people always say that don't they?
But to be honest I've never had a problem with them.....it's when I get home all the problems start! ...ignorant, loud, brash morons with nothing on their minds but bling, celebrity culture and greed. The french, by and large keep themselves to themsleves, are all for the family and still have real dignity and humility. I love my country but to be honest I'm always happiest in france, they have so so much of what we have lost for good.

i couldnt agree more.

i go to france every year, get the ferry over from roslare,ireland.

love the country, it has a certain class, that we dont have at home.

i love the french.they are wonderfully strange.but i have to say, its great for a holiday, but i dont think i could live there.

a t5 is for life not just for christmas.
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104T28 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 104T28 Quote  Post ReplyReply Direct Link To This Post Posted: 19 Jan 08 at 08:20
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starsKEY View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote starsKEY Quote  Post ReplyReply Direct Link To This Post Posted: 24 Feb 10 at 13:05
Apologies for dragging an old post, but what do we think has two years made a difference?

(Ref my orig rant, we did finally get planning for my garage & workshop :-) ) 
Its not Aircooled, It's Airconditioned.
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Berisford View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Berisford Quote  Post ReplyReply Direct Link To This Post Posted: 24 Feb 10 at 13:34

Things are still bad I'd say

I put a property on the market last October, I instructed the agent to be realistic, after a couple of silly offers I accepted an offer in Jan of 10% below what we were asking.

All was going well until last week when the buyers came forward and asked for another 5% off, despite the fact we were only a few days away from exchanging contracts I refused to negotiate further and they walked away.

I'm kinda regretting my actions but also kinda pleased. It could go either way, I'm trusting it will go my way in the next few months.

Senate Square, Helsinki, 12 June 1993.
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starsKEY View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote starsKEY Quote  Post ReplyReply Direct Link To This Post Posted: 24 Feb 10 at 16:57
I would have done the same. Faffers will always be faffers. That said the reporting of a crisis turns a bargain hunter into a vulture into an A hole! 

We've seen 20% drops max. I've seen properties (new builds, my old fellas business is in property development and I take a keen but impartial interest) go at about 15% less than they were 3 yrs ago. Definitely been hard for developers with banks calling in loans and overdrafts but I think he builds good quality, good value homes with a good reputation and they've not been buoyant but been OK. 

Still no first time buyers though...... 3 Bed high spec new build for 110k. All sold to down sizers. There is a retained 10% deposit paid option too (which would give an average wage of £28k a 2k deficit on a 100% mortgage) These properties are a good size, in a good area, near a good school and in an area that apparently has a huge housing deficit. 

Go figure.

Got a previously 260K 4 bed sat waiting for a buyer at £220k though, think this is the hardest hit market - exec 4/5 bed new build. Why would you move at the moment if you didn't need to!?

Are we at the bottom, will 40% appear? 


Its not Aircooled, It's Airconditioned.
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