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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (25484)	11/17/2002 4:39:43 PM
From: Steve Lee	Read Replies (2) \| Respond to of 74559

I have an agent coming to value my UK house tomorrow. He told me what they are doing these days is putting houses up at "guide price". They then let people bid them up and take the highest offer. First I have heard of that being done from the get go as a standard practice. Always used to be price a little bit higher than u expect to get and come down to meet the best potential buyer.

To: maceng2 who wrote (25484)	11/17/2002 5:26:15 PM
From: Moominoid	Read Replies (1) \| Respond to of 74559

If I remember correctly there was 3 million unemployed at one point. And now unemployment is the lowest its been in decades in the UK. Things at Megabank are not looking too hot either... Used to read Alex in "The Independent" and then "Australian Financial Review". I'm lucky I got this job as my alternative plan was trying to break into the finance industry in Sydney.... Mentions property market, how bubbles go pop, and the big mortgage lenders are badly positioned for such a scenario. I haven't owned any property directly or plan to and certainly not in the UK :) Moomin