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Nationwide building society expects house prices to fall 13.8 per cent this year


TheCountOfNowhere

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6 hours ago, DurhamBorn said:

Much better built,they were built in the late 60s and early 70s to very good standards.£60k they were going for 100 yards away.The irony is the new built estate has more social housing on it than the ex council estate.The people buying dont know that though.They dont  know that next door might be one of the 20% for the housing association.

IME the new build/HTB estates in the North tend to have the *WORSE* social tenants.

Nice LA or HA tenants tend to get housed.

The ones who end up in private rentals or the HTB social quota tend to be the ones whove been thrown out of the nice LA housing.

Real Scummy Shaza, 5 kids, Baz, Daz, Kaz out of prison.

4 minutes ago, MrXxxx said:

No I was meaning proper languages, not barstardidised ones! :-) :-) :-)

Ifs its not Latin then is bastardised.

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Democorruptcy
8 hours ago, DurhamBorn said:

Can rent a 3 bed ex council for around £420 a month.Nice to know taxpayers have sent that £12.5k to the housing execs.They could of used it to build houses themselves and rent out.It will of been a repayment mortgage so maybe £13k of capital payments over  5 years so that is down the drain.

Notice as well Zoopla have estimated value at  £146k to £161k, oh dear,little bit out there.I take it they update with sales ?

£420 a month, if they are out by say Dec 20, they would have paid 60 x £420 = £25,200 in rent. The £13k repayments and £7.5k deposit loss means they are better off than renting assuming they aren't chased for the £12.5k capital loss. Free bet on prices rising.

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Once the pallets of bricks start arriving at the end of the road (this has been happening all over the US) and the riots start you won't be able to give a house away if you're in the suburbs!!

Escape to the country now before it's too late!! xD

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21 minutes ago, Democorruptcy said:

£420 a month, if they are out by say Dec 20, they would have paid 60 x £420 = £25,200 in rent. The £13k repayments and £7.5k deposit loss means they are better off than renting assuming they aren't chased for the £12.5k capital loss. Free bet on prices rising.

I dont think a 60k 3 br houses has much to fall, at least nominally.

Buying cheap, in bombed out but liveable areas, at insanely cheap money is a bit of no brainer.

Lets do rough arse sums for His n n Her starting out.

10k down, 5k each for a couple, 200/m/head saved for ~2 years.

50k mortgage.@ 4% for 20 years - 300/month. 150/m each, ~40/week each. Thats roughly how much some people I know spend on sandwichs n coffee.

No hassle of dealing with a scum lord.

The price difference is how it should be - an OO living in a house should always be able to borrow at a lower rate than a LL who has no control over tenants.

Id doubt the couple will make much money form housing. But I dont think anyone in the UK will over the next 20 years.

 

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DurhamBorn
1 hour ago, spygirl said:

I dont think a 60k 3 br houses has much to fall, at least nominally.

Buying cheap, in bombed out but liveable areas, at insanely cheap money is a bit of no brainer.

Lets do rough arse sums for His n n Her starting out.

10k down, 5k each for a couple, 200/m/head saved for ~2 years.

50k mortgage.@ 4% for 20 years - 300/month. 150/m each, ~40/week each. Thats roughly how much some people I know spend on sandwichs n coffee.

No hassle of dealing with a scum lord.

The price difference is how it should be - an OO living in a house should always be able to borrow at a lower rate than a LL who has no control over tenants.

Id doubt the couple will make much money form housing. But I dont think anyone in the UK will over the next 20 years.

 

Thats the 100% key spy.Nobody is making money from housing inflation adjusted for 20 years.Given where we are in cycles the shrewd ordinary paid person would buy a £60k 3 bed up here and divert all the mortgage payments etc they are saving into different assets,ones that like inflation.They will come out far ahead.HTB was really the tail end of Browns demolition job on the UK economy.In the north though i have zero sympathy for people who used it on those crap estates.There were good houses near all of them for half the price.They wanted the "new" house though.They are about to be given an education.

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TheCountOfNowhere
1 hour ago, 5min OCD speculator said:

Once the pallets of bricks start arriving at the end of the road (this has been happening all over the US) and the riots start you won't be able to give a house away if you're in the suburbs!!

Escape to the country now before it's too late!! xD

I've an idea for a BBC pwopatee show....

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