Boomed! - House prices surge ahead post Northern Rock

[alreadypacked]

Current Property worth magnitudes (well 2 and a half times at the mo') than mortgage!

Property is only worth what someone has paid you for it.

I had a simular talk with an uncle of mine. Bought place for £55000.00 estate agent says 1.3M, place empty for the last 9 years.

He now says he won't sell for less than 3M

[Bagpuss]

Price increases assume purchasers have other peoples money to spend or can afford to spend other peoples money. BoE may have set rates at 5.75, but the banks are setting them significantly higher, the cost of money has significantly risen, the rentable values of properties have fallen in real terms.



Purchaser says yes but Computer says no, so how can the boom continue?


This is the End,
my Buy to let friend, the End,
The End of rises and mug punters,
the end of self declaring street cleaners,
this is the End

[sasguru]

Price increases assume purchasers have other peoples money to spend or can afford to spend other peoples money. BoE may have set rates at 5.75, but the banks are setting them significantly higher, the cost of money has significantly risen, the rentable values of properties have fallen in real terms.



Purchaser says yes but Computer says no, so how can the boom continue?


This is the End,
my Buy to let friend, the End,
The End of rises and mug punters,
the end of self declaring street cleaners,
this is the End

Can't wait. It will be time to make a killing

[Bagpuss]

The best time to have cash, i.e. when everyone else has none.

Back to the time of proper discounts for hard currency
Proper interest rates for savings accounts

Roll on the bust

[King Cnvt]

'There is clear evidence that disposable incomes are getting squeezed by higher living costs and the credit crunch and possibility of higher mortgage repayments is making consumers increasingly wary. As a result confidence is slipping.'

b-b-b-but the government says inflation is only 1.8% and is falling like a stone?

Are we being misled?