wish_i_had_bought

Hey Latterdaysinner, thanks for the stats and I totally agree with you - there isn't a space in London that isn't having a flats built on it!. Sorry, what I meant in my original post is they are building thousands of flats but not build actual 'homes'.

In Lewisham there are massive tower block developments being built at an increasing rate, The same around East, North Greenwich and the peninsula, and most likely across the capital. I have no doubt that this is in anticipation for the Bakerloo line that has been proposed (done deal as the infrastructure development has already begun?) At least one of the block is 100% PRS. One 20 storey appx block on Lewisham station has sold the first wave entirely to Fizzy PRS (http://blog.fizzyliving.com/category/lewisham/). This will increase demand for private ownership as only a small percentage will go to market and in some cases none at all, so demand will be huge and people will be desperate to own Developers can guarantee selling flats before they have been built, PRS companies have the capital and connections (Gov, Councils, etc) to buy up the flats before they go to market. The stats will show that the capital is building homes, but the reality will be far from it, I may be preaching to the choir but the game has changed, and I don't think it will ever go back what we once knew. In very little time new generations will not even question having to rent, or realise you used to be able to buy property without some sort of scheme/part ownership.

You need to make sure your rich enough to stay out of the loop should when SHTF

Surely it would be easier to offshore the traders, all they require is access the trading tools and apps. Kinda hard for IT to fix a desktop PC if their in poland.

If you don't renew the contract you go onto a mandatory 1 month rolling contract. Shouldn't have to pay for that i suppose but may not work in your favour. When my 1 year tenancy was up i got a letter telling me my options, i dont think they would have charged if I went for another year - but i cant be sure. Seems unfair to me. I would make sure your getting moneys worth, has the boiler been serviced/checked in the last year, etc.

Just make sure you have a Van, call it street food, and make sure you Pop up. You will make a killing, even selling fish and chips.

I know we see through this rubbish. However, how many tweenies are excitability whatsapping their BAEs to tell them they can buy a 250k house, life is great, where doing what everyone else is doing, then we can get a French bulldog and tattoos!! FML

Cant really comment on the business world though, but from my young eyes it was awesome! To me the 90s seemed amazing for technology, we had home computing with the 486s and CD roms, the birth of the internet at home, and had Windows NT (that is still begin used in XP today). Home entertainment went crazy, with the best console years and games that are still being rehashed today. And households had more than 1 TV.

Sooo good, chasing fanny!! Sums it up for me, if houses were fairly priced I would be content - probably wouldn't even buy if I knew they weren't going to go up 100%, the pressure is gone. Why does everyone now love high house prices, literally everyone in my office cant stop going on about it - like we are a better society somehow, its such a god damn rat race now.

Very true, and thanks for reminding me - the freedom I have is something I take for granted. But it is sometimes hard to remember when visiting friends and family, seeing there large houses and being looked down upon because I rent. I'm basically a nomad in their eyes. Sorry bit dramatic and off topic. If you ask someone if low interest rates are good or bad, they will probably say good. They wont know why, its because they will have just glanced and seen it on DM, FB or BBC. Same reason they will say negative interest rates are good for us over the next few years before they are introduced.

Get debt = savvy saver. Everyone I know that had/has thousands in credit debts, now have big homes. While I sat there smuggly counting my puny savings thinking i was the smart one by not getting in debt. Sucks!

https://i-d.vice.com/en_gb/article/london-its-over-and-its-not-me-its-you

In general terms I think social media is helping increasing propaganda for the goverment and powers that be, i cant really comment for house prices and sentiment. But if you consider someone can post a photo with a comment and watch a nation react, without knowing the facts - it can be very powerful. And I'm sure governments are only too aware of how powerful social media is and have been manipulating it for some time.

You should see the amount of "Homes" going up around London. Lewisham is ridiculous!! At this rate they wont have any issues hitting those targets. However I wouldn't call them homes, id say rat cages. A lot of the flats going up in Lewisham are direct to rent, direct from the developer/agent - no options to buy.

think you have a point about it being a great decade. I think about cutlure and cycles, how we just tend to rinse and repeat every 7 years. Currently I think we are on a bit of a 21 year cycle from the 90s. Fashion and culture is now so heavily focused on the 90's. Nirvana, Rave culture, shell suits, round shades, etc. All of this stuff is now so highly desirable for the early mid 20s set. If you look at companies like Palace (skate clothing) lots of their stuff is 90s based: Football italia 90s cross overs, Rebook Classics. Also television, Twin Peaks is now so massive again, there is even a pop up restaurant opening. I think you will quickly see the beard and tattoo craze disappear!

Summed it up perfectly. The game is changing, HPI = more money for Government in stamp duty. More money for Banks as bigger debts are given to customers, more profits for property developers / home builders. Before it goes belly up they will start a war. Very easy for them to do, look how easy we are manipulated by FB and the media.

My sentiment is that everyone is talking about it, I know lots of people who have bought or are in the process of buying, have sold up from London to move Kent / Suffolk. Every time I see my family / friends they are either telling me to buy, gutted that they didn't buy or pushing their kids to buy or looking at an investment property. Its all over the media and now is the best time to buy before you miss the boat. Now compare that scenario with other situations, what other times can you think of where EVERYONE was telling you to buy and if you don't you will miss out? Think about it, surely this is the mania phase? Or perhaps it really is different now, the powers that be have different agenda and we have shifted into a new era - one where we will look back at this and it will be classed as s specific "time" where for example; "people could afford to buy houses and pay them off in 27 years - wow, remember those years!"

It would be very interesting to see some updates on this thread. I need to speak to my bro, and a chap at work who has a friend in shipping for an update - weird that's its such an interesting subject, we talk for ages about it.

I have Family in Felixstowe. One just had to reapply for their job after 25 years in. And another was made redundant as the company went in to administration.