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House Price Crash Forum


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About Rousseau

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  1. Good for them. I walk past the building often. Shame that the buyers don't go on strike and end the madness.
  2. Asking prices are crazy in this borough. It's ridiculous in Teddington. Even if you take off 20%, you're still massively overpaying. Can you believe that this was originally asking 1.2 million? Mind you, nobody is biting at the chance to modernize this 'beauty'.
  3. I've made many offers and they've all been below the 2007 peak, despite most properties asking well above 10% that price. My offers have all been rejected and most of the houses were bought at near the asking price. I always research, both prior to offering and after someone else has bought it. Anybody living and working in South West London, as I am , will tell you the same. Properties in Kew, Barnes and Richmond are rarely even coming on to the market at a sensible price - I am talking up to 20% over peak of the boom. Brains and balls? I am very well educated and am perfectly capable of being rude and bearish to an EA and/or vendor , it still doesn't buy you a house here. I am sure in other places the prices are delusional and there is still plenty of it in London - thanks to all the foreign money flooding in - but anybody looking where I am will tell you the same thing: you cannot buy the good stuff right now with low offers and talking tough.
  4. You think I am an estate agent? Things are bad but not that bad! Seriously, in London it's insane here. A significant round of price rises will mean that what I can buy is rubbish compared to when I started looking. I have held off for four years and up until recently was convinced prices had to fall but this a fixed game. They have rewritten every previous economic rule and stabbed savers in the back in order to keep prices ridiculously high. EA's don't need to come on here to talk up SW London, sadly.
  5. I posted the other day that I made an offer on a 2-bed cottage in SW London (the never ending bubble) 18 months ago that was asking 330. My offer was rejected and the owner rented it out. It's now come on for 390. It's not delusion because, round here, things are selling. It's very, very depressing but it's quite clear that all those in any power are coming together to keep house prices up. What's more, they will do it indefinitely. I am going to buy if I can because , unlike 18 months ago, I have no belief there will be a crash in London and if there is it will be years and years away and only once IR are back up. Prices probably will have moved on to the extent that they probably won't even fall back to the level they are today. The thing that has hampered me before is that I've been making low offers because of the "crash is coming" mindset. My friends have long laughed at me about it. I hate to say it but I am now exactly where the VI's et al want me to be: I am terrified of further rises pricing me out totally and looking to buy.
  6. Except in my case the prime motivation was not greed. It was fear. Fear of a huge crash saddling me with something that crippled me. For a long time I believed that a crash would happen. That a crash had to happen and was a logical certainty. I felt it was the responsible choice to make sure that if I bought I got a fair chunk off to provide some protection for the future. This was wrong of me. They will change everything and rewrite every previous rule to keep the prices up. What they have done is similar to changing a light bulb by rotating the ceiling. Right, work now. Better keep saving for that 'dream home'.
  7. I hate this country. It's sick and corrupt. I've worked hard and never asked for anything from anybody. As people around me were feckless, I saved and did the right thing. I did all I could do to be responsible, solvent and independent. Now I find that a house I almost bought 18 months ago at 330 (ironically I got cold feet because I thought prices would go down, so my offer was rejected and it was rented) has just come on at 390. My friends - people I obviously like but this sick property market has made me secretly resent - are mortgaged and borrowed to the hilt and yet have seemingly never had it so good. Holidays, boats , always eating out. One of them actually said to me the other day that he had more money now than in the boom days. They'll fix the rates and keep printing money to make sure the crash will never happen. I should have just spent everything I earned and treated myself. Let the savers et al pick up the tab. Seeing as this is all a swindle, a fix, I should have listened to the fixers and 'bought while I could'. Maybe I myself am just as greedy for hoping for a crash and a better deal? This uk property market has turned me into a person I don't like; I'm bitter, angry, jealous and resentful. I will have to buy now just to stop this descent into madness.
  8. I've been moaning about this for ages. In SW London the asking prices are way, way above historical highs. Depressingly, things are also moving if they're half decent. In fact, even some really dodgy crapola is moving fast. With QE and low IR London's "safe haven" reputation for investors - foreign or otherwise - seems well and truly established. Everybody with some money seems to be adding a London property to their portfolio. I should have bought when things started crashing but I had no idea how quickly the government would act and change all the rules to stop it.
  9. All the estate agents I've met in the last 18 months have been deceptive, arrogant and unhelpful when I've asked them anything important regarding the properties they are selling. They have often been late too. Now I only think of them as people to arrive with keys and open the door , that's pretty much the limit of their usefulness.
  10. Same old story. Everything is fixed to avert a crash. It's clear to me, here in SW London, that there will never be a crash and I've missed the boat. I'll probably never buy a house in England now. I could have bought two years ago but was convinced something would have to change so held on. As it is, even a fall in prices round here would probably only take me back to that position.
  11. I've made offers of 10, 15 and 20 percent below asking price. Bear in mind that this is bubbling SW London and asking prices are usually an absolute minimum of 10% over 2007 peak sold price where I'm looking. It's not uncommon for some of them to be 25-30% above those prices. I'm also in a position to move quickly and would view myself as a very good buyer. Evidently my low offers have not led to my being viewed as such by the ghastly, arrogant estate agents I've encountered. I've been met by aggression, laughed at, ignored and generally treated with contempt because the "owners want the asking price". The whole process is a not so subtle attempt to make me look and feel small-time. Ironic really because I've managed to work and save myself into a position most of these mediocrities could only dream of. I am sure that it's because of where I am looking but they just can't be arsed to sell me a house. I literally have to beg to be fleeced. They don't call back with the information I request from vendors . They never make it easy to get a viewing because "it's so hectic and busy" etc.. These are different agents that don't know I've made "low" offers so it can't be because word has got round I'm a chancer or something. I say low but actually my offers have mostly been around -10 to -5 from peak sold prices. It's not my fault that they overvalue them so much one has to make a significantly lower offer just to get back to that mark. In fact, one offer I made was the price he paid in 2007 and he had done nothing to the place. Now, it is true that some very nice properties that aren't crazily priced do sell fast round here. However, there is a lot - and I mean a lot - of crap that is just trying to ride on the coattails of the good stuff. Battle lines are drawn for me: if something decent comes up for a sensible price, I'll try to buy. I hope for a crash/correction in the meantime (won't hold my breath given the low interest rates and VI's fighting a dirty war to prop up prices). One thing I won't do is pay 30% over the already ridiculous 2007 prices. France or Italy beckons in a few years time if things don't change.
  12. What a lovely headline for a Saturday morning. Although, why is it a shock? 18 months ago the Express led with "house prices set to soar". They've been telling us all along that home-owners will be getting this welcome news for years to come. Amazing how these powerful corporations always run with the slightest bit of ramping from Fred Blogg's potting shed office but bury or ignore the more bearish forecasts.
  13. True. However, the MPC are now acting well outside their remit to control inflation and have become involved in the wider political situation. They are behaving like an unelected branch of government. They would argue - and I think King has - that to stick simply to tackling inflation could have dire results for many people -people could lose their homes (can't have that) and possibly another bank could collapse (we must protect the banks). Still, this does not change the fact that they have morphed into something other than they were intended to be and are considering factors like government debt, economic growth. It's very dangerous to let an unelected body, seemingly unanswerable to the public, have such power. It also dilutes responsibility between themselves and the government. These people are together stealing from savers, stopping a house price correction that is needed both morally and economically, and protecting the banks and bankers that caused this, whilst playing musical chairs to dodge the bullet.
  14. How long before it's an Express headline? Oh, that's right, it already has been!
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