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House Price Crash Forum


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About Beborn

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  1. Stratford is not even in Tower Hamlets. What are you talking about. Stratford belongs to Newham.
  2. Are you for real? Why don't you read a bit about past history of artists and bohemian collectives and the places where they tended to settle, and not only in London but in any big city.
  3. I live in one of these fancy new tower buildings and I can assure you it is not empty. I have neighbors. Maybe some of them are even english! It is not packed, but definitely not empty. Some of the penthouses however are still empty, as they've not being purchased yet. Be quick.
  4. I'm genuinely curious about how does it work? I mean, a property where you usually live for 11 months a year would be packed with very personal and sentimental stuff, financial and private documents, expensive electronic devices and probably even expensive art and furniture. Mine certainly is. How renting it for 1 month a year will work with all this in mind? Do you plan to have a wardrobe with key or a safe to store most important or expensive stuff there? (Not that this would make a big difference to someone who really want to do harm, anyway).
  5. Banks will probably not lend towards these homes, as it is already the case with other kind of non-standard constructed homes.
  6. People is not stupid. If banks give you a 0.1% interest rate on savings, they will look for something else and property is seem by many as safe or even safer as leaving the money in the bank. After all, cash is fiduciary and tomorrow they might banish half of it if they wanted (look at India or Venezuela). Our politicians would love people to invest money in the ecomomy by creating businesses but that is not going to happen. Or maybe they want us to buy stocks, because of course we all know the stock market is not rigged at all, and it can only go up, right? And gold... well... talki
  7. And what's the problem again? People are free to do whatever they want with their hard earned (or lotto, or drugs or inheritance...) money. And yes, you are right, there are a lot of millionaires out there. And increasing.
  8. https://www.bloomberg.com/news/articles/2016-12-12/east-end-hipster-home-gains-beat-west-london-in-price-flux (And next to this article there is another about "London House Prices Are Having Their Worst December in Years")
  9. That's a very simplistic and quite flawed argument I tend to read in this forum, to be honest. If we were to measure any product we buy based on multiples of our wages, then we would end up saying an iPhone shouldn't cost more than £15 or a car more than £300. Of course you could argue owning the house where one lives is not a luxury product and shouldn't be priced as such. The problem with this is, you really have other options... you can always rent or find cheaper housing in other areas.
  10. Those off-plan are reassignment of contract. You must hand a huge amount of money (usually a 15% plus whatever the seller profit) without help of a mortgage. Those are the amounts already paid by the "investor" who originally bought off-plan 2 or 3 years ago. So in the case of the "cheapest" one I bet you need at least £140,000 cash ready to hand over.
  11. Nobody wants to live surrounded by council estates and poor people on benefits. Expensive developments are a natural barrier. I sympathise.
  12. In my experience with SO, the initial 3% rent on the non-owned share is completely bonkers. It usually is 1.5% to 2% so 1.3% is quite good tbh.
  13. A quick reminder that there are a lot of wealthy people in London who can easily afford a 1-bed flat while for others this same flat might require the income of 3 whole lifes. If you can buy with cash, or what you pay in mortgage each month is just 1/10th of your net monthly income, then by all means it doesn't matter how expensive a property is.
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