Owning your own home

Can you get me one of those Balki? Much cheaper than London prices.
Fuck it.. buy me a few of 'em!

Detroit's inner city is a ghost town... You'd feel like Mad Max there.

Take your pick Hippy... Crack dens aplenty!

http://www.realtor.com/realestateandhomes-search/Detroit_MI/price-na-5000/type-single-family-home/type-condo-townhome-row-home-co-op/type-multi-family-home?sby=1

Its fucked up...

Oh, god, look at this one. That garden could be awesome, and the double garage would make a superb workshop and bike store. It's so sad.

What's the legal issue in buying one? I couldn't get a visa, but moving out there and freelancing could be a good adventure for a year.

http://www.realtor.com/realestateandhomes-detail/15477-Riverdale-Ave_Detroit_MI_48223_1112624269

$20!

If it were mot for the estat agents fees it would be worth it.

http://www.realtor.com/realestateandhomes-detail/19429-Albany-St_Detroit_MI_48234_1112986506

$20!

If it were mot for the estat agents fees it would be worth it.

http://www.realtor.com/realestateandhomes-detail/19429-Albany-St_Detroit_MI_48234_1112986506

Burned to a cinder though...

Free!

http://www.realtor.com/realestateandhomes-detail/15406-Archdale_Detroit_MI_48227_1113216895

Well, there are a number of issues:

1. They are full of crack heads.
   
2. Their gas lines have been stripped for copper
   
3. The council fees have been made prohibitively high to discourage large scale purchasing.
   
   

Google $100 houses. There's been heaps of press on it.

Cannal boat, my girlfriends sister has one ant it's sweet. Cheap as well.

Difficult to get a loan for - few lenders; difficult to get a mooring of any length in London; expensive mooring fees; depreciating asset with expensive maintenance costs; sea sickness....

We can all buy one each, kick out the crackheads and move the whole Shoreditch there.

my word

You know what, if I could get a visa I would do it. I could freelance and pull in enough to live on, with no rent/mortgage costs. Visa is the only problem. You'd think that the States would fast-track applications for people willing to live in Detroit...

Take your pick Hippy... Crack dens aplenty!

http://www.realtor.com/realestateandhomes-search/Detroit_MI/price-na-5000/type-single-family-home/type-condo-townhome-row-home-co-op/type-multi-family-home?sby=1

Its fucked up...

How does it work that there's a place on there 'for sale' at $0??? Or even $20???

Seriously... these are the proper bad-lands. I think they shoot people for sport.

Lost loads of companies from the area, jobs lost, people moved and now its cactus.

How does it work that there's a place on there 'for sale' at $0??? Or even $20???

People cant live there, and they have the obligation to pay the council fees. They want rid.

Difficult to get a loan for - few lenders; difficult to get a mooring of any length in London; expensive mooring fees; depreciating asset with expensive maintenance costs; sea sickness....

Canal boats dont really depreciate.

Plastic boat - depreciates like car
Rare wooden boat - appreciates like antique
Canal boat - hold value if mantained

Mooring fees varie madly though. I lived in Henley-on-Thames for a few years (in a flat, not a boat), and the mooring fees there were astronomical and increased ten fold during the rowing regatta.

Seriously... these are the proper bad-lands. I think they shoot people for sport.

Lost loads of companies from the area, jobs lost, people moved and now its cactus.

cactus! havent heard that for time---nice one. can we have a strine thread>? go on.

Canal boats dont really depreciate.

Plastic boat - depreciates like car
Rare wooden boat - appreciates like antique
Canal boat - hold value if mantained

Mooring fees varie madly though. I lived in Henley-on-Thames for a few years (in a flat, not a boat), and the mooring fees there were astronomical and increased ten fold during the rowing regatta.

"If maintained", so effectively losing the money you spend on maintenance, paying out to stand still.

Mooring fees do vary, but if we're talking about London - permanent or long-term moorings on the Regents Park Canal, St Catherine's Dock, Canary Wharf - added to the repayments on the loan - don't save you much money on a mortgage on a bigger property. You could always try Surbiton though......

Difficult to get a loan for - few lenders; difficult to get a mooring of any length in London; expensive mooring fees; depreciating asset with expensive maintenance costs; sea sickness....

They not perfect but no solution is. You can buy them from about 12-15k so most people should beable to save at least a few grand over a few years and then get a loan for the rest if need be. The girlfriend sister just moves ever 2 weeks during the summer, stays put in the winter, simple. Maintenance is the biggest issue but everything has maintenance and I hope you are joking about sea sickness.

Seriously... these are the proper bad-lands. I think they shoot people for sport.

Lost loads of companies from the area, jobs lost, people moved and now its cactus.

I used to have to go there for work a lot, feckin scarey, 700 shooting in seven months a few years back. Good music though.

"If maintained", so effectively losing the money you spend on maintenance, paying out to stand still.

I own a wooden house and its much the same. The house deppreciates if it is not properly maintained. The property (ie.including land) still goes up though

Mooring fees do vary, but if we're talking about London - permanent or long-term moorings on the Regents Park Canal, St Catherine's Dock, Canary Wharf - added to the repayments on the loan - don't save you much money on a mortgage on a bigger property. You could always try Surbiton though......

Seems a bit like owning a house leasehold. Not owning the space your house/boat is positioned on leaves you a bit vunerable to price changes.

I had two old friends post about building their new houses today on facebook I deleted them both.

Don't get me started on the whole issue of buying social housing stock...

Selling off social housing stock to individuals is the old way of doing it. The new way is to get in a developer and demolish the entire estate, then rebuild far more intensely with a mix of luxury and 'affordable' homes (but minimal council owned social housing), office space, shopping complexes or whatever the developer thinks will make money. Existing council tenants will be shuffled around and moved from place to place until they give up and either leave the area or go into the private rental market. Leaseholds will be compulsorily purchased at market rate +10%, once the council have run the estate down for a bit.

Hammersmith and Fulham council fell to Tory control relatively recently and they have lined up developers to destroy most of their council estates. The Earls Court / West Kensington & Gibbs Green estate site is next, (http://www.lbhf.gov.uk/Borough_of_Opportunity/122810_DNP_West_Kensington_Earls_Court_and_North_Fulham.asp , http://www.lbhf.gov.uk/Borough_of_Opportunity/122810_DNP_West_Kensington_Earls_Court_and_North_Fulham.asp) where they are planning a mixed shopping/business/housing high-rise development.

Hammersmith and Fulham are said to be Cameron's favourite council and seen by some as a test bed for future Tory policy.

They not perfect but no solution is. You can buy them from about 12-15k so most people should beable to save at least a few grand over a few years and then get a loan for the rest if need be. The girlfriend sister just moves ever 2 weeks during the summer, stays put in the winter, simple. Maintenance is the biggest issue but everything has maintenance and I hope you are joking about sea sickness.

One of the other problems is that the loan is over a much shorter period of time so, whilst it will be repaid sooner, the repayments are proportionately higher. But is it an alternative - I looked into it seriously a while ago and decided against it because the saving wasn't significant after all the costs were factored in and it was a lot of hassle for me. And yes, I was joking about sea sickness, although I did have a weird experience after a binge years ago, when I was staying on a canal boat.

I'm in the fortunate position that I bought my first house at the absolute bottom of the market yonks ago, and when interest rates were low too and you could get away with a 5% deposit. Since then I've moved twice and was able to buy another place this year with a large cash deposit, which gets you a seriously good deal with lenders. But without the cash, it really is difficult now.

A friend of mine bought a street in Newcastle in the early 90's and got change from a grand.

House boats - major shortage of residential moorings, especially on the Thames.