I live in Northern Ireland, UK.
My house was built in 2000 and has 4 bedrooms, 3 receptions 2 bathrooms etc. Nice modern townhouse. It was first sold for 225k and I bought for a good price of 238k in 2004. By 2008 these houses were selling for 400k.
But because of the credit crunch and the property crash my neighbour has just had his house re-possessed by the banks and its on the market for 215k. That sets the price for these houses going forward. Holy crap.
This is the trend now. There are so many re-possessed houses on the market now its driving house prices below the cost of actually building them. Needless to say the banks don't give a shit.
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This Credit Crunch Is Killing Me
Started by
Philippines Addicts Forum
, Jul 05 2012 10:14 PM
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#1
Philippines Addicts Forum
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Posted 05 July 2012 - 10:14 PM
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