pslewis

http://www.bbc.co.uk/news/uk-northern-ireland-14402687

Leslie

Thought you would have leapt in yourself!

Les

pslewis

BIG House Price Crash on its way!!

Leslie

Not surprising really!

Les

David Lock

Well it's certainly a pity for the 40 families that will have lost their homes

There may even have been some who were hard working decent families but perhaps this isn't what you are laughing about......

dl

pslewis

No-one has lost their homes .... an Estate Agent has lost his properties!!

Families can rent another property .... or, due to the collapse, actually buy their own .... it has a silver lining for those wishing to buy.

I do not, for one fleeting moment, feel any symapthy for greedy Estate Agents!!!

tarmac terror

iTrader: (2)

Pete - houses up in Ardoyne are two a penny, you could buy a whole streetful of them for the price of a poverty spec diesel civic - get in there man and dip yer bread!!!!

pslewis

You're right ...... but the Civic Diesel will hold its value better

David Lock

That's what I thought so unlikely that even 40 houses would be worth £1.5m - something odd here

I read the report as the agent having bought up 40 homes that had been reposseseed for what he thought was a song but had caught a cold. Meaning that families had been slung out when the financial s,hit hit the fan and they could no longer afford the rent/mortgage/whatever.

dl

pslewis

dl ..... I don't think you are correct in how you read the article.

The large portfolio of properties was built up by Joseph Taylor with the use of Ulster bank mortgages, but the houses were all repossessed after the collapse of his estate agency business.

The properties, which are mostly in North and West Belfast have now been marketed for sale.

He built up the portfolio, they have to be sold now that his Estate Agency has collapsed. Some may have sitting tennants, some may be empty ...... no-one has lost their home, an Estate Agent has lost his property portfolio.