October 2009 property bet
Discussion
So pretty much in the "no change" zone.
On an actual property, we purchased on Dec 19th 2008. A similar property on our street, a few doors down is currently on the market around £15-£20k up on the price we bought ours for.
So assume knocking £10k or so off the "want" price for the eventual sold price and its looking around £5k up, which given the perusing of the estate agents in our lil town seems about right for the general market. The one split I do see in the market around our way is between the "normal" market and the higher end stuff. The high end market seems to have lost a few pennies.
I restrict this observation entirely to Rugby and its environs.
On an actual property, we purchased on Dec 19th 2008. A similar property on our street, a few doors down is currently on the market around £15-£20k up on the price we bought ours for.
So assume knocking £10k or so off the "want" price for the eventual sold price and its looking around £5k up, which given the perusing of the estate agents in our lil town seems about right for the general market. The one split I do see in the market around our way is between the "normal" market and the higher end stuff. The high end market seems to have lost a few pennies.
I restrict this observation entirely to Rugby and its environs.
The pound has probably devalued a good part of 40% in real terms, so you really need to factor this into your prophecies. I suspect Mar 2011 will be about the same level as now (maybe a smidgeon less) but a Big Mac will be £4 by then - because the whole system is stacked to prop up this asset bubble!
Edited by fido on Thursday 4th March 10:45
fido said:
The pound has probably devalued a good part of 40% in real terms, so you really need to factor this into your prophecies. I suspect Mar 2011 will be about the same level as now (maybe a smidgeon less) but a Big Mac will be £4 by then - because the whole system is stacked to prop up this asset bubble!
Exactly my point - QE has just propped up the housing and stock markets at prior levels whilst devaluing the pound - ever wonder why the Brits are returning from the Costas (Spain, not the coffee chain) and our sportscars are being bought up by ze germans?Edited by fido on Thursday 4th March 10:45
fido said:
The pound has probably devalued a good part of 40% in real terms
Since when? What on earth are you measuring to make that statement and over what timescale?Yes assets have been supported but so what? Would you rather live in a cheaper house with most of the banks having gone bust?
It may be sticking plaster but at least it's stemmed the bleeding. IMO inflation remains the enemy despite the fact it's thought to be somewhat out of fashion these days.
I'd love to be a banker. Borrow from the gov't at 0.5%, lend on a credit card at 18.9%, pocket a modest margin of 18.4% for the trouble of running a computer payments system. Christmas every day! And of course this is small beer compared with the so-called Investment Banks.
Ozzie Osmond said:
I'd love to be a banker. Borrow from the gov't at 0.5%, lend on a credit card at 18.9%, pocket a modest margin of 18.4% for the trouble of running a computer payments system. Christmas every day!
seriously?of course default and fraud cost them nothing, not to mention that to borrow 'off the government' you need to post collateral which you obviously have to own/borrow. send your cv in!
Edited by fbrs on Thursday 4th March 15:11
fbrs said:
of course default and fraud cost them nothing
A small % - if they are competent in their lending strategies. History shows they are not competent and have a track record of swinging betwwen "hopelessly stingy" and "hopelessly over-generous".fbrs said:
not to mention that to borrow 'off the government' you need to post collateral
And as we have seen, their incompetence left them with insufficient collateral.fbrs said:
if its so easy send your cv in.
Regrettably my level of incompetence would not be sufficient to pass the entry requirements....Face it Bucko, the banks were greedy fools and there's not the slightest indication of any change of character.
Ozzie Osmond said:
fbrs said:
of course default and fraud cost them nothing
A small % - if they are competent in their lending strategies.Ozzie Osmond said:
Face it Bucko, the banks were greedy fools
thats true enough but the rest is nonsenseEdited by fbrs on Thursday 4th March 15:47
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