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House Price Crash Forum


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Everything posted by red

  1. I think I said that on the radio show, but I think it falls on deaf ears, to be honest. People just think: "Yeah, but my house will be worth more in 20 years." And repeat this to themselves whenever anything vaguely non-HPI is uttered.
  2. something like 'it's not all gloom and doom' to which I was going to reply: "Why is paying less for a home bad news?"
  3. bah. all over. wanted to come in after that EA at the end but they cut us off.
  4. they read out my email which the expert agreed with. Hmm. they're calling me back...
  5. bump... They are calling me to speak live... let's get a few other emails/callers in here!
  6. What's the market like near you? Are you finding it hard to buy or sell? Give them a call/email: http://www.bbc.co.uk/5live/ [email protected]
  7. Just heard 'expert' David Buick from BCG Partners on LBC saying that an IR rise would endanger any 'recovery' in the housing market. So a 'recovery' in house prices means that they continue going up thereby making home-ownership more expensive. Why don't the sheeple understand this? That we'd actually be better off if we spent less on servicing property debt? Why do we bemoan every other rise in daily expenditure which pales into insignificance when you consider how much we pay for property in the misguided belief that it's a one-way bet 'investment'? I suspect David Buick is just another baby-boomer up to his nuts in property, petrified that lower house prices would compromise his retirement fund. Ditto half the government and the BoE...
  8. Bootle agrees with him. He was just on Radio 5 saying that the BoE can't raise rates for two years as the economy is too fragile. So the banks will continue to cream in the profits at 4% above base and house prices will decline gradually, nominally, but more so in real terms due to low wage inflation v real inflation. And screw the savers - serves them right for not going out and spending like what we told them to...
  9. Great for sentiment...shame it won't really make the news versus Osama. Also a shame that my area is still bucking the trend and is experiencing the bounciest of spring bounces. :angry:
  10. yep. A buying opportunity here. It's been testing $50 for a while and will break through soon...
  11. Because of the half-used container of anti-freeze, you mean..?
  12. Until one idiot actually pays the asking price and voila, we're in another bubble with all other vendors scenting blood, jacking up their prices. It's happening here in N London. Fear phase? I fear not...
  13. Similarly, we have a 6 month old baby. All family & friends in London. Both of us work in London. We live in an area where prices (at the moment) are rising faster than we can save a deposit. Yes, I remain convinced that prices will fall, but playing the waiting game isn't easy when you're living in a small rental flat with a baby about to start crawling. Options: bite the bullet, move out to cheaper suburb and buy, or rent a larger ground floor flat and keep waiting...pros and cons either way.
  14. I bought my first zone 2 flat (Islington) for 50K in 1997. The guy I bought it from acquired it under the 'right to buy' scheme for 35k. Then we got our orgy of lending and those flats were going for 185k in 2007...
  15. Because the OP asked if prices in London were booming. In my part of London, that's what I've noticed....particularly as I was on the cusp of buying a place for 500K in 2008 - now, similar properties are going for 700K! Yes, prices were around 650K pre-credit crunch, but I wanted to highlight the remarkable growth since the dip.
  16. The OP asked if anyone saw London prices booming. I have replied to say what I see here in N2. Nothing to do with sentiment. Facts. If you want to discuss sentiment/bubble psychology, etc., I'm happy to do so. Having said I didn't present any facts, which I then did, you've tacitly acknowledged that you can't refute them and are now attacking a part of my first post that is a separate argument entirely. And if I find a post insulting, that's for me to judge, not you.
  17. Fact: Prices up 20% on two years ago in the area I'm looking. Care to refute that? I'll provide links if you like. Fact: There's a definite demographic shift in the type of people moving into the area. Again, do you live here and refute that? Facts: We're near the catchment area for Fortismere school (one of the best in North London) and whenever a property comes up in this area it carries a premium. We have Hampstead Heath, Kenwood House and Highgate Woods nearby and are 20 minutes from the West End by tube. I'm not denying we're in a bubble here (a bubble upon a bubble than never truly burst, in fact) and the market is still essentially dysfunctional, but it's certain that areas like this that are currently being preferred by those who can't afford the £1m+ houses in surrounding affluent areas and are buying up around here for 700-800K instead. Properties that were going for 500-600k two years ago. When we see that change and what the catalyst will be is anyone's guess. IR rises? Austerity measures biting? The OP asked if people were seeing London prices booming. I answered with an honest appraisal based on what I am seeing locally. If the best you can do is throw insults about, then at least come back with some facts yourself that counter mine.
  18. Please tell me what you're seeing here in N2 that differs from the facts I've presented. No? Didn't think so.
  19. Very few properties coming on, prices up 20% on 2 years ago. That's what I'm seeing round my way...London N2. Crazy, but as long as there are cash-rich folk moving in and IRs are low, I can't see it dropping. It seems the area has suddenly become trendy (Muswell Hill/Hampstead/Islington overflow) and its proximity to central London, parks, good schools, etc. are very attractive.
  20. A few things, I think: People who can't afford Hampstead/Crouch End have 'discovered' East Finchley and its excellent transport links, good schools, parks, etc.. The demographic of people living here is changing - it's still families, but more young professional types; possibly those who've sold each of their flats in Islington (bought for a song in 1997) and decided to raise a family somewhere more suburban, but not too far out. There's very little coming on in the area, keeping prices high. Anything half-decent goes immediately, encouraging the next vendor to up their price a little...and on it goes. Bottom line, I'm getting priced out and it's fecking frustrating...
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