Owner's negative equity horror

[Mega]

http://www.dailymail.co.uk/news/arti...ty-horror.html

And before you get sad, remember it was fu*kers like this that drove honest hard working famlies into major debt........as for assholes like this?...........Let them eat cake!

Mike

[GRG55]

Re: Owner's negative equity horror

http://www.dailymail.co.uk/news/arti...ty-horror.html

And before you get sad, remember it was fu*kers like this that drove honest hard working famlies into major debt........as for assholes like this?...........Let them eat cake!

Mike

'Two bids came in at £160,000 and because we wanted it we decided to go for £175,000,' he said. 'At that time it only meant an extra £20 or £30 a month on a mortgage. I had it valued soon after and was told it could make £225,000.'

Sean Williams, assistant manager of Hamptons in Pimlico, said Mr Conroy had been a victim of last year's overheated market. 'I think they paid over the odds by a factor of three,' he said.

Wonder if he got his mortgage at Northern Rock...:rolleyes:

[metalman]

Re: Owner's negative equity horror

http://www.dailymail.co.uk/news/arti...ty-horror.html

And before you get sad, remember it was fu*kers like this that drove honest hard working famlies into major debt........as for assholes like this?...........Let them eat cake!

Mike

no, mega. not 'driven' into debt. they went there via their own free will!

[Mega]

Re: Owner's negative equity horror

Not So!

Look if they are FORCED to pay insane prices they no choice.................If we put up rates in 2002 then they would not have crashed so much now.

Mike

[Jim Nickerson]

Re: Owner's negative equity horror

Not So!

Look if they are FORCED to pay insane prices they no choice.................If we put up rates in 2002 then they would not have crashed so much now.

Mike

The guy in the story bought the 120 square foot studio apartment or 175,000 GBP and did so to let or rent it. He certainly had every choice known to man not to choose to pay such a ludicrous price for such a small place. The guy was/is either insane or greedy or both. Unless someone has more money than they know how to spend, I can't imagine anyone buying such a place as he did for that price.