Unemployment will probably be 1.3 million up, on summer 2008, by the end of this year.

How many of those will lose their homes?

I don't think scrapping stamp duty will do anything to stop the crash.

 

All I know is prices in my area have gone up by 2% and demand is increasing. I think this will resolve a lot quicker than people think.
I am posturing to start investments, I know its my risk and I know its going to work.
My dad is an Ex city trader/property investor. All his rich rich friends are starting to invest now.
Its time people... its time.

 

The 2% january blip?
South of Guildford, prices are still falling.

 

Tim! You see the 'green shoots'?

All I know is my commercial mortgage has shot up by £200 a month as the 4.5% fixed rate just ended. Yeb LIBOR is pants- although I'm quids in on my domestic tracker mortgage.

Good prices on 6 series convertibles mind

D

 

He must be one of those brilliant city traders/ property investors who didn't get us all in the mess in the first place

 

He was dealing in US hedge funds so he didnt get US into this mess. And by us we, a lot of us must except that we have over spent in the first place, Not in every case but if you cant afford you credit card repayments because you bills have increased then you have over spent on your credit car.

Anyways, I am dipping out of this discussion now, Just offering a bit of insight from the other half.
There is a reason they are never skint. (they are not ALL crooks)

 

Good luck to you. There's a development near here that was asking for £160K for a 3 bedroom flat this time last year. Today they can't sell them for £110K.
If you're 1 of the lucky few who know your job is safe go for it.
If, like the majority of the country right now, you're nervous about loosing your job then you're best to sit tight.

 

There is a current blip upwards in the market - I have seen properties selling now.

They must be priced right, and no tatty shacks either, but they are selling.

If the activity stays as it is for 2 months then we are out of the woods I reckon.

 

The 6 new flats built next to our factory have all sold after worry from the builders they would remain unsold for ages.
They are pre fab crap and are as big as rabbit hutches, also our extraction is liking a tornado taking off, if they can sell there is hope for everyone.

 

BUY BUY BUY !!!!!

 

I think it really is BUY BUY BUY ...................

Unless this is just a blip and then SIT ON YOUR HANDS!

 

'cop' out of the century!

 

Bonus' paid for by tax payers?

 

I witnessed a heated discussion a few years ago at a dinner party, where it ended with a city boy saying to a person living/working in the country

"well I pay your fvcking wages"

mmmm sound a bit hollow now!!!

 

I have to say SSup, you have an innate skill at regularly starting the longest threads.

Les

 

That's because I post stuff which is of great interest to most people ...... and I am a master at initiating debate

 

According to ONE index when all the others are reporting falls, and there's been very few sales as well, so the index is easily distorted by the lack of data.

If anyone buys now, due to the Halifax report, they're complete idiots IMO. Let's see what Nationwide bring out for February, should be due soon (and Halifax in early March).

 

 

Can't argue with you being a Master debater...

 

Bloody commercial mortgage just gone up £200 LIBOR or summat. Adviser alleged I'd save £200 pm next month as they do it in 3 month fixed blocks. Where's MY bonus D

 

Mortgage approvals rose in Jan according to one report today .!!!
Itchy feet for some people ...

 

Damn my 5 year fixed rate, I thought I was being clever being cautious
Don't worry all, the climate will be back to normal when it runs out and the base rate will have risen etc.

 

I know a complete idiot that just bought 10 new flats from a bankrupt developer at auction for 1.2 million in one of the top 10 postcodes in the country...
He is set to rent them out for 600 a month each, I understand it might take a few months to fill them.
But I bet you one thing, This complete idiot will not loose on these flats. I bet in 2 years this complete idiot makes somewhere in the region of 650k.

 

Mortgage lending UP in January from December ..... I feel that this is the turning point.

NR are lending up to 90% again ... and are being PUSHED hard to get the market going again (Political reasons I suspect!).

Labour cannot afford to have House prices dropping in the 6 months prior to an Election - they will do ANYTHING to secure rising House Prises before winter this year.

Jump NOW!

 

So 120k per flat. At 6 percent that means you make a payment of 600 per month interest only. Subtract 1000 per year management costs plus maintenence and he better have some back up cash somwhere. Not to mention stamp duty.
n There are flats in milton keynes you can buy for 105k that rent for 650 per month so don't really think he got a good deal unless
1. he paid alot of cash upfront and does not want to leave it in a bank at 1 percent interest. 2. He secured a very good interest rate.

 

You are a frickin merchant of doom..... Every post is how "the man" is against you or how we are all wasting our money.
This guy built up and sold a massive high street chain, Chances are he knows what he is doing.

He bought them upfront, outright. The monthly fee is £60, the ground rent is £100 a year.
Stamp duty is set at 125k, 10 divided by 1.2 mil is 120 k each.

I am offering some what could be seen as inside information, take it or leave but dont make up sum to try and disprove it.

As with most threads in the non related I am now done here. Gone are the days of questions, now its all about how wrong every other poster is.

 

If you read my post you would see that I already said the situation would be different if he had the cash. I do not remember ever accusing this guy of wasting his money but its a simple fact of economics that the yeild percentage available is what will help stabilise house prices.
I am pretty sure my figures are pretty accurate so how did I make sums up ? The point of a discussion board is to discuss so I am not dure what you are so excited about.

 

are you some sort of Jedi Tim?

 

Chill Tim - you WILL make a killing!!! This is a hot topic so there will be different 'takes'

D [off to buy some bank and bedding shares - people will always need money or somewhere safe to keep it] D

 

You're wrong about the stamp duty

The stamp duty threshold is not 125k at all, it's 175k. Here's a link: Stamp Duty : Directgov - Money, tax and benefits