So are we in the bull-trap ourselves or still the denial stage?
Neither bull trap nor denial.
We’re still only at the Takeoff stage.
At least, that’s what Donie Cassidy is saying, and he’s a TD so he should know better. Shouldn’t he?
House prices will plummet
No this is not Detroit,crack alley,this is dear old England where you can buy a £400,000 house and then end up paying the bank ONE PENNY A MONTH.
This is apparently too much,as the one penny payment is more than the computers can deal with,don’t worry though,the nice Building Society are going to re-adjust the couples payments totake account of their “overpayment”.
I’m fg Mad Fg McMad from F*****g Mad Town
Sorry edit for link(just a little bit angry at the time)
One example of a 1p mortgage (an IO on a £400k if I have it correctly - mental, but there you have it) does not indicate anything about the property market over here.
Its like having an opinion on UK restraunts based on the ‘Freddie Starr ate my hamster’ headline.
Try this one instead viewtopic.php?f=11&t=20097
Edited for link
Edited in respect of Provosts post (below)
cool it folks, less insulting each other
more keeping on topic!
Here’s an example of the scale of the problem with the North’s property crash. This house started out at £495k and has dropped it’s price by 60% to £200k, but over the same period the euro went from 67p to 94p. In euro terms this property has fallen from 739’000 euros to 212’000 euros, a drop of almost 72%. Nice house too…
Credit for this find goes to TreesDon’tGrowToTheSky.