House prices...

[rogerroger]

According to radio 4 this morning we're heading for a late 80's style crash of house prices.

Great - if I sell mine now I'll get £250k. I can then live on my boat for a year while the market crashes and then buy it back for £150k.

I'll then have £100k to buy a new yacht and will also live the same type of house as before.

It's almost TOO easy...

Roger Holden
www.first-magnitude.co.uk

 

[milltech]

I was down on the Welsh Borders a couple of weeks ago. For a third the value of my house we could buy 9 acres on the banks of the Wye, a substantial house with letting accomodation and a derelect Norman Castle. For less we could buy cottages with 40 mile views...but 'er indoors won't be separated from a few crusty old pals to move West, so we must continue to live in our only decent asset in the cause of marital harmony and I must drive banger boats.

The worst of it is I could do the work anywhere...........

........the only downside would seem to be the distance from Waitrose!

John

 

[claymore]

Yes - I was listening to that too.
I then thought that there must be an awful lot of boats bought on finance and if a similar crash or bubbleburst could take place there - the Halberg-Rassey might be possible after all.
Fingers Crossed

regards
Claymore

 

[sailbadthesinner]

My house is on the market just as soon as get the dining room decorated
the house carpeted
The garden tamed and landscaped
the greenhouse finished
The workshop repaired (walls and roof)
The garage demolished
The drive repaired

Should be ready for the next boom if i am lucky.

New motto
whoever in invited Decorating wants F***ing and whoever invented F***ing wants Decorating.


If it Cooks Flys or Floats, Rent it.

 

[sailbadthesinner]

Sell current house
Buy boat to live on
Buy house on borders when market has crashed and either sell boat for smaller one or you maybe able to have both. I'd do it if i could.

It is what my friend is doing
House is sold
Just after the boat now. the bugger rang me this morning from Kefalonia 30 degrees F5 doing nine knots on a cat.

If it Cooks Flys or Floats, Rent it.

 

[jimi]

Bound to happen, I've had similar thoughts but wife insists its a home not a house. So yet again in the interests of marital happiness I sacrifice the possibility of a fast buck!

 

[ParaHandy]

Stopped listening to Today on R4. R2 much better.

Not v. pleasant at the mo. Read a jolly good book “Engines that move markets” by Alasdair Nairn. Not good boat reading – need to think too much. He describes how short selling operations rigged the transport market. Also read last night about Merryl Lynch’s analysts who hyped various stocks while describing them privately as sh*te – much as JP Morgan settled £100m for last month.. The former event occurred in 1840 (Erie Railroad cpy) while the latter last year. Not much has changed in the last 160 years.

To trigger a collapse in house prices, you need a whopping increase in interest rates. Medium & long gilt yields have shifted up a point but nothing untoward. Equity markets are at 1998 levels. Money is flowing into perceived secure assets such as gilts, bricks & mortar etc which is holding their price up and keeping yields down. There is so much distrust of and lack of confidence in the probity of financial markets. Even the political independence of the Bank’s monetary policy committee is being doubted which is troubling.

Anyway, when you get your HR (fancy the 38 but will accept the 46 ketch if available) where you going to put her? Marinas are property cpys with little equity and lots of bank loans so the poor UK boaty will get stuffed again. France is looking more attractive by the day?

 

[claymore]

Thought I'd shoot the line about my rather spurious link to the scottish crown then baz a mooring down in Melfort on Crown property - do you think the'd wear it?

regards
Claymore

 

[milltech]

Yes but SWMBO doesn't fly or float, (OK so I know what I wrote, don't ask).

John

 

[sailbadthesinner]

Get a new SWMBO sounds like only option.
Ofcourse that will probably bankrupt any chance of owning a house or a boat then.
That is why I rent.

If it Cooks Flys or Floats, Rent it.

 

[ParaHandy]

Doffing cap & tugging forelock......oooohhh, teeth sucking etc, prodigal son, eh? Dressed in full regalia, you'll be a shoo' in up there.

 

[jimi]

Dinna dish the dosh laddie, jist take rightful possession. Ah masel' hae a guid claim tae the Croon wi' a fu' ancestrie gang richt back tae Macbeth. As yer a pal o' mine Ah grant you & yer progeny fu' richts tae pit that floatin' monster o' yers whirever ye want tae. Jist tell them tae hae a wee word wi' me.

 

[ParaHandy]

The son o' life.......Jings...a thoosand years o' history. Trust thon sassenachs tae pinch a guid story. Thon's a michty braw family tree - 1057 yer old man went awa tae his maker?

But, steady on a moment afair ye gie him sich an honour. The puir wee thing's been daeing a' sorts of terrible things tae hi'sel which ye shoold ken. Fur one, he's been blaspheming a' ower the place...och aye, not a pretty sight and sich a crying shame...an' he's been consorting wi' furreners on yon boat o' his in front o' his missus too, the dreich wullie.....

 

[Jeremy_W]

According to radio 4 this morning we're heading for a late 80's style crash of house prices.

Well, if Radio Four says it, then it must be true. But seriously the average house price has gone completely out of line with the average wage in - the mid seventies; the late eighties and now the early noughties. That looks horribly like one of those 13-year trade cycles I paid no attention to in Economics lessons. In the late 70's house prices stabilised while we enjoyed the post-Barber double digit inflation and in the early nineties we had lowish inflation and a house price crash. I reckon [depending which part of the country you're in] that you're making a pretty smart move, but plenty of poor sods will soon be suffering.

 

[VMALLOWS]

Yeah, but how much have you lost on the stock market in the last few weeks? (don't tell me....nothing!).
What about a house in France with moorings at £300 a year.?
Anyway what's this got to do with boats!!

 

[ParaHandy]

Re: Noah\'s Ark?

Let me bring you up to date........due to DTLR (or is it DEFRA?) telling everybody in low lying areas (most of London...) that their house will be flooded in 10, 15, 20 years - depending on which Home office crack-pot they're listening to - and the insurance cpys decided, naturally enough, that they're not going to insure anybody"at risk" - never mind the fact that before post code insuring, insurance was all about spreading risk - and the gov have no cash to shore up flood defences; rogerroger is taking prudent steps toward purchasing his "Ark". Hopefully the livestock he takes will not have BSE (cows) or SWVS (pigs) or scabies (sheep) all of which diseases have been reputedly eradicated (according to DEFRA).

 

[rogerroger]

<Anyway what's this got to do with boats!!>

er, it's a way to buy one...(thought that was obvious!)

Roger Holden
www.first-magnitude.co.uk

 

[rogerroger]

Re: Noah\'s Ark?

LOL !!

Doug - the only thing my boat has in common with the Ark is her age !!!


Roger Holden
www.first-magnitude.co.uk

 

[milltech]

Years ago, during the last recession, I was at the East Coast Boat Show jawing with a trailer sailer manufacturer when a very smart lady working something altogether flashier on the pontoons came by. My colleague who knew her said, "Hows it going?", and she, looking a bit depressed said by way of explanation, "Oh, you know, Grannies dead but we can't sell the house"!

I imagine a legacy or a house downsizing is often a step up for a yachting family.

John