January 16th, 2007, 05:57 PM
the mini boom we are seeing in the provincial cities is about to come to an end.
the numbers buying to let (the foundation of this construction) is going to plumet with the recent and potential future rises in interest rates.
January 20th, 2007, 12:37 AM
Fucking hell Metro... something to finally agree with you once ance again!
I also feel that once it goes it will go big time as the money values in wages, incomes and profits in the wider economy 'oop noorth' has been overstretched to dangerous proportions.
£120k for a shithole interwar terrace (2beds) in shithole huyton is an 'average Liverpool' mortgage for that type of house now!!!! but all the mortgagees are still as poor as ever!
As for the investment and property development side of what has gone on... welll.. fools and their money, or something, springs to mind!
January 20th, 2007, 02:05 AM
''A fool and his money are soon parted''
January 21st, 2007, 01:46 AM
That's the one!
I remember 5 years ago loads of outside property developers paying 80k for houses in Kensington (the Liverpool one) where the week before you could buy the whole street for 3!