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Re: Property bubble
Originally Posted by huddm
(Post 9823547)
john009
The average UK mortgage is stated a £109K( which to us is a high mortgage) and average income is £26.2K and household income are £33K. Therefore ratio are 4.2 and 3.3 respectively. When I first brought a home in 1989 I was offered 2.5 time my salary and when I returned to the UK from Canada I was offered a max of 3 times my salary. I took out a mortgage at 1.5 times my income. Most respectable lenders today will not give you more that 3 time salary as a mortgage. In 1989 I had to put down a large deposit which then was a a years earning for us. It was several years before of are hard savings, working as much OT that was available, no holidays or social life and selling our cars to get the deposit. So it seems that over 20 odd years later there no difference for first time buyers. Hudd http://www.thisismoney.co.uk/money/m...edictions.html Which suggests that the average down payment is well in excess of the average before tax household income. Fine if you have equity, but a bit tricky for first time buyers. |
Re: Property bubble
Originally Posted by Almost Canadian
(Post 9823582)
Do service personnel buy near their bases in Canada? They rarely did in England.
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Re: Property bubble
Originally Posted by Alan2005
(Post 9823599)
Wouldn't having a bunch of jumped up squadies move into your neighbourhood actually lower property prices?
It doesn't pay to have to move every 3 years or so but it may be that Canadian forces personnel don't get posted around as often. Real garrison towns (Aldershot, Catterick et.) are places that I wouldn't want to live near even if I was in the military.;) |
Re: Property bubble
Originally Posted by Almost Canadian
(Post 9823582)
Do service personnel buy near their bases in Canada? They rarely did in England.
Although as with everything there are exceptions...I work out of Ottawa but my home remains back in NB. Happy New Year... |
Re: Property bubble
Originally Posted by Alan2005
(Post 9823599)
Wouldn't having a bunch of jumped up squadies move into your neighbourhood actually lower property prices?
PS...Eff Off.... |
Re: Property bubble
Originally Posted by Almost Canadian
(Post 9823705)
I guess so. Some of the personnel at Hereford bought but that was because they were rarely posted elsewhere and,....
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Re: Property bubble
Originally Posted by Alan2005
(Post 9823967)
Isn't that where the SAS are? I found that out last week when I was playing modern warfare 3.
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Re: Property bubble
Originally Posted by CANADIAN CARPERS
(Post 9821459)
Hi Helen, I have an appt tomorrow at 3 with Royal Lepage (think that's what they're called) but will also use Remax to avoid conflict of interest problems as I believe 'double enders' are to be avoided. Trying not to :rofl: it was explained to me that it's when the same agent is representing both parties (buyer/seller) I've been advised by my bank not to allow realtors to show me properties on their own books but to get for example Remax to show me listings from all the other brokers in the area and then get Royal Lepage to show me Remax properties. The reason behind this is because as a buyer I would be regarded as the 'money' and the seller as the 'client' and realtors always favour the client.
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Re: Property bubble
Originally Posted by Almost Canadian
(Post 9823582)
Do service personnel buy near their bases in Canada? They rarely did in England.
Generally not in Trenton itself if they can afford to get away from the smell of the papermill. My neighbours are only selling as she chose to retrain in admin after 15 years in the service, and lost seniority as a result. As low man on the totem when it came to reposting she was the one to go, and they were only recently married so he got posted away with her so they could stay together. You could say they are suffering some sticker shock over the cost of property in BC compared to here. In the case of JTF2, as a rapid response unit I think the expectation is that they are nearby, but others here probably have more idea on that than me. |
Re: Property bubble
Originally Posted by iaink
(Post 9824736)
In the case of JTF2, as a rapid response unit I think the expectation is that they are nearby, but others here probably have more idea on that than me.
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Re: Property bubble
Originally Posted by Almost Canadian
(Post 9824923)
OK. I didn't know if, like Hereford, it was their base or simply somewhere they were posted to.
However, the government is still in the process of negotiating the last few hundred acres of land, (as it has been for 4 years+), so its not going to happen for a while yet, next year maybe? |
Re: Property bubble
Originally Posted by Almost Canadian
(Post 9823582)
Do service personnel buy near their bases in Canada? They rarely did in England.
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Re: Property bubble
Originally Posted by jerry brewer
(Post 9821421)
Hi
If i had a dollar for everytime someone says the property market here in vancouver is going to crash I would be very happy.:thumbsup: I would say coming from the UK, absolutely no, it is definitely not a good time to buy in Canada because of the weakness of sterling and the strength of the Canadian dollar at the moment. |
Re: Property bubble
The MoD in the UK sold off a lot of their properties because the armed forces got smaller at the end of the Cold War. A lot of them were in a diabolical state. I know this because (a) I had to live in one at one point and (b) I worked for a company that maintained them as well.
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Re: Property bubble
Originally Posted by Alan2005
(Post 9823967)
Isn't that where the SAS are? I found that out last week when I was playing modern warfare 3.
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