Back in November 2008 this house in Glencairn Heights was on sale for R1 985 000, along with a used Land Rover as an incentive. 18 months later the same house is for sale for R1 695 000, although this time there's no car thrown in to sweeten the deal. I can't tell from the ad if it's still the original seller who couldn't sell the house and is now selling it R290 000 cheaper than they were asking 18 months ago or if it's the person who bought the house back then and now realises they're paying a massive bond and the days of 25% price growth they were pegging everything on are long gone and has decided to get rid of the albatross.In this market either of those are feasible.
11 comments:
Yeah, the new owner took the Landy and is making for the border whilst insolvency snaps away at his heels.
This blog was once informative and interesting, at times. There was some insight to economics and even a bit of interesting political talk. Now it's turned into a forum for conservative/lucky middle-upper-class whites to say 'ha ha' and 'I told you so' to their speculative/unlucky middle-upper-class white peers who are now losing out in the property market.
The plug needs to be yanked on this blog.
@ Anon above
STFU troll.
Has anyone noticed the Organgerie seems to actaully have a few units sold/rented out? It looks that way because some of the balconies now have plants, washing chairs etc.
Does anyone know if they found some rich people with brain damage or just dropped their prices?
Shame, Benny, don't be too harsh on the poor little Anon. He's clearly a specuvestor who got burnt by ignoring the advice on this blog. You know the type: "No-one could see it coming! What do you mean I should have done my own research? I DID! I read every press release Dr Andrew Golding sent me, and he's a doctor so you know he's telling the truth..."
As for the Orgasmerie, I have no doubt some suckers took the bait. Every day I see a different plonker in a Beemer turning in there, all middle-aged and greasy-looking. Dunno if they estate agents coming to make the place look lived-in, or a very large family of Sicilians who wanted a little getaway far away from the prying eyes of Interpol.
Units renting out for shitty rentals. It's better to rent it out than to have it stand empty for 6 months.
I have to say that with the property market stagnating very badly at the current high prices there does not seem to be much to talk about.
@anon
its cause ad isnt around anymore, he always used to bring up interesting economic angles and links, just a pity he doesnt believe in global warming and got hounded off the blog.
Ad was interesting. Except for the fact he believed in a vast, global interconnected conspiracy many times larger and more complex than anything 911 produced BUT alledgedly with the aim of defrauding taxpayers out of a few million I actually agreed with most of what he said.
Too bad he isn't here. I have a feeling the fun we've all been waiting for is about to start.
@Benny
I think you missed the points he was making. Some reading is required on these subjects from palatable sources no?
Grunch Of Giants (Grunch is acronym for "Gross Universal Cash Heist") by Buckminster Fuller
Tragedy and Hope : A History of the World in Our Time by
Carroll Quigley, Georgetown University
History Professor (1966)
http://www.amazon.com/Tragedy-Hope-History-World-Time/dp/094500110X
Yes, Ad is sorely missed. Ironic how BC's post illustrates just what kind of jerk the second Anon accused this blog of having. Same goes for Benny. Same goes for first anon. Howz that for a trend?
@anon above
I said, STFU troll.
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