Reply to: House sales down 40pc since property boom

[AtW]

Have you considered branching into estate agent business?

I think you'd do well...

[DodgyAgent]

Government Orders Everyone To Move House

[alreadypacked]

Government Orders Everyone To Move House

Chancellor Alistair Darling said: "It is now more than 20 years since moving house replaced coal mining as this country's chief economic activity."

[DimPrawn]

Why is the economy linked to housing SALES? Why is there never mention of the booming rental market out there?

Government Orders Everyone To Move House

[OwlHoot]

Different issues

If a non-spouse is left a property worth say £625K, then they must pay death duty at 40% on the value over £325K, which is 0.4 * 300K, i.e. 120K.

If they are skint (which is what I was referring to) then they must sell the property one way or another immediately, to raise the cash.

[escapeUK]

Why is the economy linked to housing SALES? Why is there never mention of the booming rental market out there?

The only way I can think of it being linked is the more people pay for over priced property and or rentals the less they actually have to spend in the actual economy, it also means people demand higher wages making us uncompetitive as a nation.

[minestrone]

Cannot see me moving for at least 15 years.

( Unless I get kicked out of course )

[Old Hack]

People selling bequeathed properties, where insufficient funds are otherwise available to pay death duty?

And law's of average would state most of the people dying would be of an older generation who's houses are already paid off

Different issues

[AtW]

A 10 year tactical solution?

14.

[Old Hack]

People selling bequeathed properties, where insufficient funds are otherwise available to pay death duty?

I have a bungalow I was going to sell. It was going to be marketed at offers £300-325k. A similar, if somewhat dated, bungalow came on at 300k, within month was at 275, then offers over 250 which it finally sold for. This was a bequeathed property where the kids just wanted the money. Killed stone dead the local market as everyone who was selling houses all pulled out.

It really does affect a local market.

A friend has also sold his house, for a fair price he assures me, and now finds out the amount he will be loaned for the new house, has been reduced.

Starting to squeeze out there.

[SimonMac]

People selling bequeathed properties, where insufficient funds are otherwise available to pay death duty?

And law's of average would state most of the people dying would be of an older generation who's houses are already paid off

[OwlHoot]

You really don't get it do you?

Prices only fall massively if people are FORCED to sell at a loss. And since the banks are letting people take payment holidays and extend the mortgage period rather than default to protect their balance sheets, who is going to sell at a loss?

People selling bequeathed properties, where insufficient funds are otherwise available to pay death duty?

[oracleslave]

No I am still renting a flat for tactical reasons

A 10 year tactical solution?

[SimonMac]

It is the only thing we have left economy wise.

If the people I talk to on Facebook or Twitter are anything like representative of the country as a whole their is an underground economy of cupcake makers who should be paying HMRC!

[BrilloPad]

Why is the economy linked to housing

It is the only thing we have left economy wise.