Get yer cash pile ready - cheap repo houses a plenty

[DimPrawn]

http://money.guardian.co.uk/housepri...160516,00.html

Rics believes the trend will continue in 2008 as interest rates bite for homeowners whose fixed-rate deals have come to an end. It predicts repossessions will exceed 45,000 next year, a figure that would translate into 125 repossessions per day.


Excellent, a steady supply of cheap houses to buy and sell on at a profit later, or use as BTL and become a property millionaire.

It's all looking good folks for those with plenty of cash in the bank!!!

[dr_beat]

The forum at http://www.housepricecrash.co.uk/forum/ is quite good on duscussions of house prices. Most of them have predicted some sort of fall but there is the odd few in denial.

What worries my is the effect that a credit crunch/recession/sub-prime crisis etc would have on the IT jobs industry and how this would affect the IT Contractor.

[chicane]

Sadly I have a mere 350 grand stashed away - not enough for a studio flat in Hackney even when the crash kicks in. Looks like I'll have to pass on this one.

[DimPrawn]

£350K should be enough for a 5% deposit though.

[sasguru]

Sadly I have a mere 350 grand stashed away - not enough for a studio flat in Hackney even when the crash kicks in. Looks like I'll have to pass on this one.

Pah! Call yourself a contractor ?

[ChimpMaster]

Bl00dy heck how long have you guys been contracting?

Seriously, this morning on the train I was talking to a couple of other guys who knew of contractors earning £650 and £750 a day and it made me feel tulipe!

And now you guys come up with this?

[chicane]

And to think that it took all this time to scrape together that sorry excuse for a cash pile after foolishly blowing everything on the Monaco hillside residence and yacht last year. That'll teach me to be so careless with money.

[sasguru]

I spent all my money on wine, women and song. The rest I wasted.

[Lucy]

I spent all my money on wine, women and song. The rest I wasted.

To quote Georgie Best.

(Bad sas)

[sasguru]

To quote Georgie Best.

(Bad sas)

Yeah everyone knows that