Page 1 of Homes `to cost ten times salary`

See Here

:o

The Jackal

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Visit Chainsaw Films

Confucius say
"Man who go to bed with sex problem on mind,
Wake up with solution in hand"

I know all us existing homeowners are laughing.oh look my house is worth 6,7 or 8 + times what we paid for it(we paid £22,000 in 1987 for a 3-bed EOT and it`s been valued now at £225000) But the problem is that people trying to get on the housing ladder are really having difficulty. And of course if you sell to buy again the prices are frightening. The only way it would work for me was if I was either downsizing or selling to not buy again.

Scary.

Bill

Its crap aint it. Say you do down grade. You have £203000 to play with. Cheapest place around here is about 170,000 that would leave you with 33,000 to play with. That aint gonna last ya long is it? >:(

The Jackal

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Visit Chainsaw Films

Confucius say
"Man who go to bed with sex problem on mind,
Wake up with solution in hand"

Wasn`t it only a week or so ago that it was believed that house prices were going to start falling shortly due to the only slight increases in prices nationally?

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News Editor and Reviewer
www.dvd.reviewer.co.uk

Go that way, really fast. If something gets in your way, turn...

And those who dance will spin and turn,
And those who wait will wait no more,
And those who talk will hear the words,
And those who see will fade and die,
And those who laugh will surely fall,
And those who know will always feel their backs against the thin wall...

On my s***ty wage houses here are just about 10 times my salary now :/

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"If I had time....and a hammer, I`d track down every bootleg copy and smash it........"
- George Lucas



My Collection

This item was edited on Thursday, 7th June 2007, 17:36

Sure sign of a forthcoming house-price crash.

I remember the late 80`s boom, when every self-appointed think-tank at that time predicted that house prices will keep rising and because of the demand, people in the near future needed

1) mortages of 10x to 20x their salaries to secure a property.
2) people need to take out 50 year mortages,
3) etc, etc

DID THEY HELL.

Property market went bust owing to interest rates rising to 17%.

Now, given the level of the rediculous house prices (all due to people buying beyond their means with the view that they will make money...such as the buy to letters), it will only need interest rates to rise to 8% before the cycle repeats.

Unlike other countries which actually make goods to sell, this economy of Gordons is based upon house price inflation, turning homes into easy money. A bad state of affairs for any country. All it will take is a few interest rate rises and this artificial economy will be killed..unlike the USA and CHINA and Japan, and EU which do make goods that the world buys.

The economy is being driven because there is cash to spend. This is not earned through hard work (what does the UK manufacture now ?) but because...

People borrow more because they are sitting on more equity
People want homes just to make money (like the buy to letters).
People stretch themselves to join in the band-wagon (not to be left out)

Until people act sensibly, this will continue.

The supply/demand assumption is nonsense. The demand is there because people think interest rates are low, they do not wish to be left behind, so they convince themselves that unless they do not buy now, they never will.

A few interest rises will kill this, and it will mean those who stretched themselves will have to bear the burden. And for what ?. Because the felt they HAD TO BUY because everyone else has.

##########

BTW...a guy on my street bought another home @300K, a few years ago,
Now he has sold it making a profit of 80K.

All this while claiming benefits, where his children eat free school meals because he is supposedly on "low income"/disability.

Such people make me sick as I work hard and have to pay for everything. It makes me even more sick as he appears to be getting away with it with no-one from the benefit fraud office knowing what he has done.

This item was edited on Thursday, 7th June 2007, 17:58

Hi sultan
Quote:
"BTW...a guy on my street bought another home @300K, a few years ago,
Now he has sold it making a profit of 80K.

All this while claiming benefits, where his children eat free school meals because he is supposedly on "low income"/disability.

Such people make me sick as I work hard and have to pay for everything. It makes me even more sick as he appears to be getting away with it with no-one from the benefit fraud office knowing what he has done."

easy solution report him yourself
hgv

This item was edited on Thursday, 7th June 2007, 18:10

Please can you visit your local benafits office and tell them of the situ.
The £80k he made on his second home rightfully belongs to you and me that provide his hand outs

Jemma