Wednesday, Feb 13, 2008
The property bubble predators
MoneyWeek: Why thousands of people have overpaid for property
Every bubble has its predators. During the property bubble, it was the developers and buy-to-let clubs who offered new-builds 'below market value'. Get ready for a wave of repossessions across the nation's city centres...
Posted by mary @ 10:19 AM (521 views) Add Comment
5 Comments
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1. Landedgentry said...
Nice, now time to pick up some bargains.
2. Brookgreendefender said...
While I can't argue with the basis of the article that houses are overpriced, I will take issue with the description of Brook Green as "a small piece of grubby grass sandwiched between Hammersmith and Shepherd’s Bush" - I've lived there for 3 years (as a renter admittedly) and found it to be a wonderful part of London. Expensive? Yes. Overpriced? Probably. But definitely not grubby and with very vibrant and actively used family facilities. The only correct part of that statement is it's geography - I know plenty of people that would want to live there in a hearbeat.
I'll be interested to see what happens in Batoum Gardens tho' - this is a street that is on the "other side" of Shepherds Bush road (a fairly un-lovely road) and has had a fair bit less regeneration than the streets on the W14 side, but still seen massive growth in property prices, and calling it Brook Green is a bit of a stretch of Estate Agent licence.
3. confused76 said...
Not yet. need to wait two years. no point in buying while market still goes down.
and hedge the currency
4. Landedgentry said...
Yes your right confused, Thanks.
What was I thinking? Almost had a mindset of a buy to letter ready to jump in and buy anything LOL a couple of slaps across the face... right feel much better now that I have senses. Phew ! Isn't this exciting folks???
5. paul said...
I'd say many of us are sitting pretty.
Even cash isn't going that far wrong as banks seek to rebuild their cash assets. The troubled lenders especially cannot afford to cut their savers rates too much.