Greg Bowman

So whats your point ? plenty of own under performers but lets import hordes of others with no respect for our history, culture or values and have been raised in countries on the fringe of the civilised West ? Again as I said before as someone of Esatern Eurpean heritage - could of predicted this mess twenty years ago. It's not ethnic bias for centuries we have assimilated hard working people from all sorts of communities, in a controlled manner. This is a race to the bottom. 50 nations FFS - do you really in your heart of hearts thinks that bodes well for your children's self esteem, prospects and ambition ? To put that into perspective in North London in the 60's and 70's in my classes we had White Anglo Saxons, Indians, Greeks, Turks, Irish, Scots, Jamaicans, French all by descent the majority of us second gen. We were British First, Second and last we weren't from 50 nations. So perhaps it's your language you think it's the normal and it's ok, many cultures one nation Great Britain not too much to ask is it ? -The Daily Mail has nothing on left wing multi culturists in terms of brain washing it would seem

The word is professionally......

FFS Newbie I am 50% Eastern European, My mates are Turks/Greeks/Cypriots all North Londoners. Our part of London has changed beyond recognition. A race to the bottom with the dregs of our societies coming here in their hundreds of thousands, unambitious, uneducated, scum and in the case of Eastern Europeans damm right violent we Lits are 6th in the league table pretty good for a little country our neighbours ten times the size Poland are 1st, Romania in with a shot at 4. Our forefathers left their countries to escape these people and now despite our warnings, native born ,middle class intellectuals, country dwelling cretins have built this multi cultural hell for the the people they consider scum - their own fellow citizens I don't blame the uneducated underclass from Central Europe - why wouldn't you come ? but to say they aren't part of the problem is just plain stupid

Actually.....had a meeting with a Natwest Manager today since at some point will want to borrow and put my capital to better use than sitting in a house or some of it anyway. Personally I was very surprised at the stringent way they look at loans IO out of the window unless very well proven £75k+ one income over three year average BTL and residential we lump it all together and stress test up to nearly 7% the rent just counts as income as with S24 (wasn't after BTL by the way) So on balance probably a lot better prepared than other global banks. The interesting thing for me was if they are doing it all the major banks are playing the same game and a bit like LR figures being behind will start to have an increasing impact next year

+1

The people who worked there aren't though in the main are they ? just poor souls who could lose their job before Christmas. Save the everyone has a choice speech for the next homeless person you see......tongue in cheek Count but they all have families

Personally I think people are quite lazy (don't mean that rudely) but being transported somewhere suits their book until the costs become outrageous ie now. Generally alternatives require what someone explained to me as trans modal shift. Cycling like motorcycling requires specialist clothing you have to change out of, many people not prepared to do that. Perhaps only getting the mainline in and then walking everywhere in London or using a Boris bike is another example. Negotiating two days at home is perceived as high risk from a career perspective etc

I have an Australian friend who moved here and has raised his 4 lads in the UK successful man European MD of large corp. The nurse line rings a bell. He always said if you wanted careers that aren't government backed Nurses, teachers etc and as a youngster be at the front of new industries. Australia wasn't the place for you. Ignorant 50's mentality and 8 hours from anywhere. remember him and his wife are Australian. In the UK if you are on six figures and live in the shires, life even now pretty good and opportunities because of our location so much more. But he always said if you were a trained nurse/doctor/police service/Fire service why the F*** would you stay in the UK ? I am surprised once trained any nurses stay with such a globally accepted skill. Weirdly it's often easier to travel the global when you have a recognised skill and are in the 20-30k bracket than earning £150k at exec level

And rightly so, London isn't working for anyone. The regions or Londoners. It will decline but I think the fall is a little bit hyped up it's got a long way to go and many alternatives in terms of revenue streams from Tourism to technology and creative hubs Not sure Brexit a massive factor nor technology. House prices and general social decline will be the drivers.

Yes you do unless you want to carry on being the very unfashionable ugly relative of London and Manchester....and don't bang on about the car industry - new Jag E Pace made in Austria only Engines from the UK...

Nice engineering isn’t really about flaunting it, second hand vantage 35k brand new 4 series m power rep mobile 45k plus - who’s flaunting it ? and who when dressed up with the missus feels like James Bond ? I personally think today most people don’t dream enough ?? but I would agree older expensive to maintain machinery unless you know what your doing is sort of flaunting it in an inverse snobbery sort of way - spannering like being a geek is now quite cool

Interesting post. a couple of observations from someone who was there in London in 89 - flat in Surrey Quays SE1 or Surrey Docks as it was called then. Bought 88 catastrophic crash bought on by no meddling in market,recession and high interest rates bought for £67k - sold for £65k in 96. So even with a market that properly crashed wasn’t spectacularly out of pocket. As you say seen it and lived it before (not from afar) London is another world - it really is, I am guessing you don’t live or work there. The inflows of people, money and influence have to be experienced to be believed falls are happening now will be they catastrophic - unlikely 20% is my guess new build s*** boxes have been something to avoid anywhere in the country but a new build s**** box easier to rent if it comes to it with a view of Tower Bridge than Grimsby Ultra low IO’s priced in for years on fixed rate mortgages without any more meddling still an attractive bet buying rather than renting if you secure a place at around 2007-2010 prices So your son is going to rent for another 4 years - it’s not great for family life as many on here have commented, it seems imho you have bush whacked him into living a transient life with a young family it seems a little binary as many on here say there is more to life We are in our second renting spell and even in a decent 3 bed semi in a good area with no kids at home I find it after 3 months a little, soulless and has had an affect on my mood. Your home is your castle is a deeper ingrained emotional need than I think you realise more so to a young couple. Its expensive renting our place is £1700 a month, interest on my mortgage before was £600 and it was a McMansion complete with pillars and more marble than The acropolis, alright I had significant equity but broadly speaking if I mortgaged up to 75% would still be less than my rent now So by all means believe your son will pick up a s*** box for 50% off in 2021, he deserves it he will have put a lot of his young families life on hold for that... There are starting to be real opportunities to secure places at 2007 prices now, if not in London but the shires and perhaps some parts of London soon. You don’t seem like a professional investor but you are advising your son to be one. Not sure long term he will thank you for it

Actually no because it’s the same old bull - on here as you have proved there are a wide variety of opinions and data which have informed some of my decisions over the last eight years Traditional wealth management advice is generally do this for x amount return and I will charge x, spreadsheet monkeys I get no feel for trends, consumer sentiment etc which can impact both me and my business

Please don’t the place needs balance, for good reason many people on here are angry but knocking people who have timed things well and done ok out of property is just ignoring some of the drivers of property ownership. I too think the whole system is corrupt and out of control does that make me an accessory to the fact ? by luck and the occasional risk, I have done ok out of personal property ownership and built with my business a financial base for my children. It’s a system and you play it the best you can

???

92 and yep crazy

Sorry for being high and mighty ? perhaps didn’t make myself clear sold a high price house where not sure this change would feed through to £1 million + houses It is hard enough getting a buyer at that level only had 4 viewings and 2 offers so power very much in the hands of the buyer (which is a glimpse into the future for people who believe their property is their pension and it will be easy to liquidate )

Because you or I don't know nor does anyone even an army of zero EQ high IQ quants with spreadsheets. Hence the debate on here. I would stick around and stop passing judgement....you will find some invaluable advice on here trust me not just on houses. Speaking as one of the nasty boomers - its not complicated is it ? the government wants to steal as much of my money as it can, I don't want that to happen so I am always on the lookout for an angle, be that investing, timing markets etc. There are people on here far more successful than us who have legally and successfully organised their life to achieve that. It's not my only source of info but a good one

+1 This market is manipulated, loaded and F***** up so who knows ?

No pardon required got it Thanks

That's the secondary factor the first is how much you earn for the multiple surely ?

Personally don't think it is going to much difference at all - the economics and emotions of selling are individual at point of sale and purchase ie. Forced seller - will just want to get the thing away New builds - Production line same as above if you are locked in they would rather get the unit away than f*** you around FTB home but seller not moving up - Got to be a very small proportion of the total market at this level, might be tempted to F*** you around but risk is great - you have tremendous choice at this level once you can get your hands on the relevant mortgage etc FTB Home Seller moving up - crucial step for them likely semi after a flat to start a family, no driver to F*** you around and chains flakey enough as it is In fact a change of this magnitude can happen anyway with people getting funny on the day of exchange _ I have had it

A bit SHOUTY SHOUTY aren't we newbie.....I was questioning your very specific statement which as someone out of the market today I am worse off because of the change and yet you, yourself say prices will go down - surely I will be better off not worse off. Everything else is equal because nothing else changed so that can be discounted.

The middle classes are easy targets exactly because of that, anecdotally I have run a business for over 25 years and when I think about it most people I have met who are first generation business owners (as opposed to self employed) have tended to come from the working class, is that because we have less to lose or keeping up with the Joneses isn't our thing - I don't know but for sure it makes us less easy to tax

That's true my friend but also true of many things from getting that better job, to leaving the safety of PAYE to start your own thing. I 100% agree with you for the sake of clarity