So how's the economy?

[BrilloPad]

There will be 60000+ repossessions a year for the next 3 years (minimum).

Obviously some people are having a pretty tulipty time of it.

I agree. But so far that does not seem to be reflected in prices.

[the_duderama]

I agree. But so far that does not seem to be reflected in prices.

Crazy vendors. They all seem to think that because they bought high they can sell high. Guy i work with put in a cheeky offer of 180K on a 210K house, and they took it. The house had been on the market for almost a year.

[DimPrawn]

Crazy vendors. They all seem to think that because they bought high they can sell high. Guy i work with put in a cheeky offer of 180K on a 210K house, and they took it. The house had been on the market for almost a year.

I wouldn't call putting in an offer at around 85% the asking price (priced at peak) cheeky.

A £100K offer is cheeky.

[Pondlife]

Place we went to see the otherday, Vendor (recently split couple) insisted that they need 98% of the asking price to pay off the mortgage.

They've had the place since before '95 or however far houseprice.co.uk goes.

The place needed a whole load of work doing as well, so I've no idea what they've pi$$ed all the equity away on.

I guess they're on interest only and are basically mortage zombies.

[thunderlizard]

In any crises - ask the question Qui Bonum ? (who profits ?)

Cui bonum