![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
boodieThe house next door is up for sale, it's this house, just placed differently on the block, they've redone the kitchen and done a bit of landscaping to the backyard, it looks nice, the asking price...offers OVER $207k.. WHAT??
The last time that house was sold was 4-5 years ago, the asking price was $100k, they got $95k for it, now I know we've had a housing boom, but even in the best of all possible lights, house prices have not gone up over 100% in the intervening years, so either I am terribly mistaken about house values, or the agent is having delusions of grandeur.
So going by the rationale of buying the worst house in the best street, that would be THIS house, as this street is a bloody good street to live in, the asking price for the worst house is usually around $50-70k less than the cost of best house, so that would make the market price for this between $135-155k.. NO BLOODY WAY.
The last time this house was on the market, around the same time as the house next door, they were asking $70k for it, they were offered $65k and turned it down as it wasn't enough, in the intervening 5 years all that has been done is a half finished bathroom renovation, costing maybe $2k, if that.
Anybody that pays more than $100k for this place has far more money than sense, as it's going to take at least $30k of work to bring it up to halfway decent sort of house.
And speaking of houses,
20 houses.
15 in the OMG thats far too bloody expensive curl up and die, i cant afford that sort of rent and the bond is over $1.1k category
3 in the well I could almost afford that but no pets category
1 in the well i could afford that, if i got someone else to live with me, it's a 4 bedroom house, but it's not available until end of march category.
1 in the well if we stopped eating, paying bills, living etc, i could afford that, we'd have a roof over our heads but we'd be hungry and cold category.
BAH.
The last time that house was sold was 4-5 years ago, the asking price was $100k, they got $95k for it, now I know we've had a housing boom, but even in the best of all possible lights, house prices have not gone up over 100% in the intervening years, so either I am terribly mistaken about house values, or the agent is having delusions of grandeur.
So going by the rationale of buying the worst house in the best street, that would be THIS house, as this street is a bloody good street to live in, the asking price for the worst house is usually around $50-70k less than the cost of best house, so that would make the market price for this between $135-155k.. NO BLOODY WAY.
The last time this house was on the market, around the same time as the house next door, they were asking $70k for it, they were offered $65k and turned it down as it wasn't enough, in the intervening 5 years all that has been done is a half finished bathroom renovation, costing maybe $2k, if that.
Anybody that pays more than $100k for this place has far more money than sense, as it's going to take at least $30k of work to bring it up to halfway decent sort of house.
And speaking of houses,
20 houses.
15 in the OMG thats far too bloody expensive curl up and die, i cant afford that sort of rent and the bond is over $1.1k category
3 in the well I could almost afford that but no pets category
1 in the well i could afford that, if i got someone else to live with me, it's a 4 bedroom house, but it's not available until end of march category.
1 in the well if we stopped eating, paying bills, living etc, i could afford that, we'd have a roof over our heads but we'd be hungry and cold category.
BAH.
![[identity profile]](https://www.dreamwidth.org/img/silk/identity/openid.png){kind=small}
no subject
Date: 2007-03-08 11:17 am (UTC)The housing boom in the UK is truely insane. You need to be earning twice the average wage to even get the deposit together for the cheapest housing.
The crash is inevitable.
no subject
Date: 2007-03-08 12:34 pm (UTC)no subject
Date: 2007-03-10 12:15 am (UTC)I was actually discussing property with a friend last night and he says there are a _lot_ of people who are defaulting on mortages. There are people who own multiple houses and live off the rent, then buy more, then there is everyone else who doesn't have the money to get into the game. I reckon it's those people who are living off the small people who are driving the prices up.
Maybe we need a bit of tax reform, making it more prohibitive to own multiple properties like that, which would bring prices back down to levels where more average people could get into it.. nah, they'd just raise the rent anyway.
no subject
Date: 2007-03-10 03:32 am (UTC)