UK house prices to breach 300,000 GBP...
Aug 10th 2007, 7:58 pm
#46
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Joined: Jun 2005
Location: Oz -> UK -> San Diego
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Re: UK house prices to breach 300,000 GBP...
I happen to keep my eye on this site:
www.thecreativeinvestor.com
www.thecreativeinvestor.com
Aug 10th 2007, 8:04 pm
#47
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Joined: Jul 2005
Posts: 15,019
Re: UK house prices to breach 300,000 GBP...
Parental assistance is a big thing yes, but I would think *most* baby boomer parents did not own their own homes. Certainly not enough value to fuel the current situation. Council housing back then was what the majority of ordinary people lived in. Very well looked after proper council houses.
I can only think of 2 or 3 examples in my grandparents generation which must have been some 20 odd people that owned their houses. And whilst that is true to some extent for the middle - upper middle + classes, those approaching old age now are well aware they may not get through without using the house to pay for nursing care.
I can only think of 2 or 3 examples in my grandparents generation which must have been some 20 odd people that owned their houses. And whilst that is true to some extent for the middle - upper middle + classes, those approaching old age now are well aware they may not get through without using the house to pay for nursing care.
about 8 yrs ago a neighbour's son of a lady i know bought not only his parents council house but also approached 5 other immediate neighbours in the road and provided them with the finances to purchase their houses from the council. everything was all drawn up legally and he now collects the rent as he is the owner of all 5 houses, 6 counting his parents.
one house in the same road was for sale last yr for oiro £250,000 and he in turn paid roughly £35,000 for each property. the clever lad is 38yrs old now.
lots of similar cases i've heard of since maggie started selling off the council houses.
Aug 10th 2007, 8:07 pm
#48
Lost in BE Cyberspace
Joined: Jun 2005
Location: Oz -> UK -> San Diego
Posts: 9,912
Re: UK house prices to breach 300,000 GBP...
about 8 yrs ago a neighbour's son of a lady i know bought not only his parents council house but also approached 5 other immediate neighbours in the road and provided them with the finances to purchase their houses from the council. everything was all drawn up legally and he now collects the rent as he is the owner of all 5 houses, 6 counting his parents.
one house in the same road was for sale last yr for oiro £250,000 and he in turn paid roughly £35,000 for each property. the clever lad is 38yrs old now.
lots of similar cases i've heard of since maggie started selling off the council houses.
one house in the same road was for sale last yr for oiro £250,000 and he in turn paid roughly £35,000 for each property. the clever lad is 38yrs old now.
lots of similar cases i've heard of since maggie started selling off the council houses.
Aug 10th 2007, 8:24 pm
#50
Lost in BE Cyberspace
Joined: Jun 2005
Location: Oz -> UK -> San Diego
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Re: UK house prices to breach 300,000 GBP...
And if you're eligible, here's an option courtesy of the US government!
http://www.nctimes.com/articles/2007...7_498_9_07.txt
http://www.nctimes.com/articles/2007...7_498_9_07.txt
Aug 10th 2007, 8:48 pm
#51
Account Closed
Joined: Sep 2005
Posts: 15,455
Re: UK house prices to breach 300,000 GBP...
And if you're eligible, here's an option courtesy of the US government!
http://www.nctimes.com/articles/2007...7_498_9_07.txt
http://www.nctimes.com/articles/2007...7_498_9_07.txt
Err...might work...
Aug 10th 2007, 8:52 pm
#52
Lost in BE Cyberspace
Joined: Jun 2005
Location: Oz -> UK -> San Diego
Posts: 9,912
Re: UK house prices to breach 300,000 GBP...
LOL
I was referring to the fact that they may be offering signing-on bonuses for houses, businesses etc
Aug 10th 2007, 9:15 pm
#54
Re vera, potas bene.
Joined: Jun 2005
Location: Cape Cod MA..Davenport FL
Posts: 2,405
Re: UK house prices to breach 300,000 GBP...
When you think about it...most houses on the Cape cost over $300k...most people here ..earn $1,280 a month before tax...even with 2 people working I can see why most low paid people live in Motel rooms....
Aug 11th 2007, 9:45 am
#55
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Joined: Nov 2005
Posts: 1,397
Re: UK house prices to breach 300,000 GBP...
about 8 yrs ago a neighbour's son of a lady i know bought not only his parents council house but also approached 5 other immediate neighbours in the road and provided them with the finances to purchase their houses from the council. everything was all drawn up legally and he now collects the rent as he is the owner of all 5 houses, 6 counting his parents.
one house in the same road was for sale last yr for oiro £250,000 and he in turn paid roughly £35,000 for each property. the clever lad is 38yrs old now.
lots of similar cases i've heard of since maggie started selling off the council houses.
one house in the same road was for sale last yr for oiro £250,000 and he in turn paid roughly £35,000 for each property. the clever lad is 38yrs old now.
lots of similar cases i've heard of since maggie started selling off the council houses.
Quite! It would thoroughly piss me off ten odd years ago when huge discounts were still available that the sons/daughters of long term tennants could buy their parents/grandparents houses for 25% of what we were having to front up.I know it's not the only factor in today's mess but it's a hell of a big one. The policy has to go up as one of the, if not the, most shortsighted political move of the last century.
Aug 11th 2007, 9:51 am
#56
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Joined: Nov 2005
Posts: 1,397
Re: UK house prices to breach 300,000 GBP...
Ex navy divorcee I knew was on $7.5 an hour as a shop manager and looking at $200k for a 2 bed condo at the time, she didnt have a hope in hell even with child maintainance payments coming in. I do believe prices have come off the boil since then but not hugely.
Aug 11th 2007, 3:48 pm
#57
Re vera, potas bene.
Joined: Jun 2005
Location: Cape Cod MA..Davenport FL
Posts: 2,405
Aug 12th 2007, 1:35 pm
#59
Re vera, potas bene.
Joined: Jun 2005
Location: Cape Cod MA..Davenport FL
Posts: 2,405
Re: UK house prices to breach 300,000 GBP...
The other thing I've noticed here is people nolonger paid off their homes....they used them as ATM Machines....we own one of our homes outright....and a lot of the other one...giving us money now to look for a third house...money is always in houses not matter what the market is like...if you did it right....all this quick flipping has turned the market around so much that people in some area's want old homes to look new...good that the housing stock is getting remodeled...but bad in that they want so much for the homes after...putting a lot of old homes out of the reach of local people....
Aug 14th 2007, 4:55 pm
#60
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Joined: Jul 2007
Posts: 202
Re: UK house prices to breach 300,000 GBP...
One big way round that though is housing associations. Something serious has to be done long term, but short term we have the potential of seeing tens of thousands of repos falling into the hands of developers and letters because foreclosures will go to auction and most potential homebuyers wont.
