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House price crash starting in America
House price crash starting in America:
http://www.realestatejournal.com/buy...5-nutting.html We'll be next |
I'm not overly worried about house prices dropping over here, the mortgage accounts for less than 50% of the house's current value so I'm not in much danger of negative equity. I want house prices to drop in France and then I can buy a nice little holiday / retirement place over there!
Council Tax and fuel / electricity bills are what's getting my goat, just had to put the gas & electric DD up to £60 per month. |
I have around 40% equity in my house, I only bought it last year. It was pretty obvious when I moved to the US that the housing market was very quiet. Most houses were on the market for at least six months. And in Houston there are lot's of ex-pats who have to sell up when they're leaving.
The other issue is that there is SO much land, and the land is SO cheap, that new houses spring up pretty much anywhere and the prices are very cheap. I am going to "Europeanise" my home in an effort to add value to it and make it stand out from the crowd....... |
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Just been reading about this.
More here: http://www.in2perspective.com/nr/200...-freefall-.jsp "A bursting of the property bubble poses equally serious risks for America's key trading partners and for the rest of an increasingly integrated global economy," he added. Won't affect us though. Tony and Gordo will make sure of that :lol1: ;) |
If you keep talking about it it will come ;) :rolleyes:
.....Repeat for 5-10 years until true. |
Originally Posted by unclebuck
Won't affect us though. Tony and Gordo will make sure of that :lol1: ;)
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Originally Posted by unclebuck
Just been reading about this.
More here: http://www.in2perspective.com/nr/200...-freefall-.jsp "A bursting of the property bubble poses equally serious risks for America's key trading partners and for the rest of an increasingly integrated global economy," he added. Won't affect us though. Tony and Gordo will make sure of that :lol1: ;) They are. They have just let 500,00 into the country in a couple of years, they all have to live somewhere. |
Originally Posted by 2000TLondon
I have around 40% equity in my house, I only bought it last year. It was pretty obvious when I moved to the US that the housing market was very quiet. Most houses were on the market for at least six months. And in Houston there are lot's of ex-pats who have to sell up when they're leaving.
The other issue is that there is SO much land, and the land is SO cheap, that new houses spring up pretty much anywhere and the prices are very cheap. I am going to "Europeanise" my home in an effort to add value to it and make it stand out from the crowd....... Agreed - i really cant see house prices dropping in Texas for a while - they're cheap enough anyway. maybe the north east i.e. new jersey, pennsylvania and maybe some property in Cal on the west coast but noty in the south and mid west. Like i said dirt cheap as it is |
Originally Posted by The Chief
Agreed - i really cant see house prices dropping in Texas for a while - they're cheap enough anyway. maybe the north east i.e. new jersey, pennsylvania and maybe some property in Cal on the west coast but noty in the south and mid west.
Like i said dirt cheap as it is |
Originally Posted by OllyK
I'm not overly worried about house prices dropping over here, the mortgage accounts for less than 50% of the house's current value so I'm not in much danger of negative equity. I want house prices to drop in France and then I can buy a nice little holiday / retirement place over there!
Council Tax and fuel / electricity bills are what's getting my goat, just had to put the gas & electric DD up to £60 per month. :eek: only found out after a revalue a few weeks ago. We knew it had appreciated but FMOB's. France may be an option in the future:wonder: I think the rush to buy in Turkey may slow down soon as well. |
Originally Posted by 2000TLondon
A friend of mine lives in Manhattan, prices in his block, on higher floors, near Colombus Cricle / Central Park, are going for $4,000,000 for a SMALL STUDIO!!! :eek2: :eek2: :eek2: :freak3: :cuckoo:
I look on realtor or JB Goodwin (austin agent) and i cannot believe how cheap prices are in TX - 150k will get you a 4 bed house with a pool:eek: |
Originally Posted by The Chief
I look on realtor or JB Goodwin (austin agent) and i cannot believe how cheap prices are in TX - 150k will get you a 4 bed house with a pool:eek:
We paid just shy of $200,000 (at the time $1.7 / £1 :mad: ) last year for a 3000sq ft house, three bed, games room, three receptions (one double sized) one large and one huge garden, double garage, three baths, but no pool as I thought it wouldn't get used too much..... How I began to regret that in April when it started to get over 100f...... Very rare for it to be below 80f, even at midnight. Our walk-in closet in the "master suite" is almost the size of my lounge when I lived in Marylebone!!! |
Mines paid for, bring it on, a nice cheap buy to let perhaps ?
Jesus, I am turning into a PSL like Nimby, Im all right jack capitalist ! |
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Originally Posted by sti-04!!
As Garth would say 'A fully functional babe-lair' :lol1: |
Originally Posted by The Chief
Imagine taking a girl back to that:D
As Garth would say 'A fully functional babe-lair' :lol1: |
Originally Posted by TopBanana
We'll be next
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Glad we exchanged contracts on our sale last week then ;) :D
And I have to laugh at you lot saying you have 25, 40% or whatever equity in your houses - judging by the locations that would be worth a loaf of bread here darn Sarf ;) And you only have the equity when you release it, otherwise it's worth diddly on paper........ ;) |
Originally Posted by Dave T-S
Glad we exchanged contracts on our sale last week then ;) :D
And I have to laugh at you lot saying you have 25, 40% or whatever equity in your houses - judging by the locations that would be worth a loaf of bread here darn Sarf ;) And you only have the equity when you release it, otherwise it's worth diddly on paper........ ;) |
Originally Posted by Dave T-S
Glad we exchanged contracts on our sale last week then ;) :D
And I have to laugh at you lot saying you have 25, 40% or whatever equity in your houses - judging by the locations that would be worth a loaf of bread here darn Sarf ;) And you only have the equity when you release it, otherwise it's worth diddly on paper........ ;) What are you intending to do for accomodation now? |
Originally Posted by Dave T-S
And I have to laugh at you lot saying you have 25, 40% or whatever equity in your houses - judging by the locations that would be worth a loaf of bread here darn Sarf ;)
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We bought a year ago - which is why I breathed such a sigh of relief at selling this one!! :D
The point is we are pretty much the only country that buys houses as an "investment" and that has so many attendant problems. It is only a "profit", or your "equity" on paper, and most of us are tied to the property ladder if only because if you get off it for any length of time you'll never get back on again :( - although our possible retirement plan is to flog darn Sarf and buy a pile in the wilds of Scotland :D |
Originally Posted by Dave T-S
We bought a year ago - which is why I breathed such a sigh of relief at selling this one!! :D
The point is we are pretty much the only country that buys houses as an "investment" and that has so many attendant problems. It is only a "profit", or your "equity" on paper, and most of us are tied to the property ladder if only because if you get off it for any length of time you'll never get back on again :( - although our possible retirement plan is to flog darn Sarf and buy a pile in the wilds of Scotland :D Having lot's of equity in your home allows breathing space during "hard times", I wasn't trying to impress with my statement, just to say that I hope I could ride out any potential issues without too much bother..... :thumb: |
What are you intending to do for accomodation now We are moving out in 19 days, and currently the new house has no plumbing, no heating, no water, no kitchen, no bathroom, no electricity apart from two sockets in the utility room, and a gaping hole in the roof :D To say I am starting to get ever so slightly concerned would be an understatement :D |
2000TLondon
Wasn't criticising you in any way, just saying as a nation that's how things work :) |
Originally Posted by Dave T-S
Well, that's a topical question. We bought a cottage a year ago, gutted it, and it is going back together a lot slowly :D
We are moving out in 19 days, and currently the new house has no plumbing, no heating, no water, no kitchen, no bathroom, no electricity apart from two sockets in the utility room, and a gaping hole in the roof :D To say I am starting to get ever so slightly concerned would be an understatement :D |
:thumb:
Originally Posted by Dave T-S
2000TLondon
Wasn't criticising you in any way, just saying as a nation that's how things work :) |
Originally Posted by Dave T-S
Well, that's a topical question. We bought a cottage a year ago, gutted it, and it is going back together a lot slowly :D
We are moving out in 19 days, and currently the new house has no plumbing, no heating, no water, no kitchen, no bathroom, no electricity apart from two sockets in the utility room, and a gaping hole in the roof :D To say I am starting to get ever so slightly concerned would be an understatement :D |
Sounds like you need Sarah Beeny round, if not just for a "morale boost" Actually, it's all under control, we have a really good bunch of builders, we just have a bit of a timing problem :D (and at least now we have sold are solvent again and can pay them :D ) |
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