• From This is Money:

    They are less likely to be envious now.
    As cash buyers and with house prices down 20% we thought we would be able to pick up a bargain, but on three occasions so far we have lost out, with the sale going to sealed bids every time.
    Although the market has supposedly crashed, here in Middle England a housing bubble is making it impossible for us to buy a property at anything like a reasonable price.
    After selling up, we rented a property in neighbouring Stratford-on-Avon and put our money in the bank, getting 6.5% interest.
    We are both retired journalists and, like millions of other pensioners, we are getting nothing like that rate now.
    What we want is a cosy, comfortable cottage or period townhouse in the Stratford area, perhaps in need of renovation, for about £400,000. The first property we saw was a three-bedroom bungalow in Offchurch, Warwickshire, advertised at £300,000.
    It was on a riverside plot and needed a lot of work as it had suffered subsidence – o…

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    Posted by Jon @ 8:23 pm

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