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About crow

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  1. Ah yes that reminded me! Above that was an interest only mortgage from 2008 to 2018 when I sold. So the over payments were needed (but maybe not quite to the level I did). Was an amazing interest rate!
  2. I over paid hugely from 2012 to 2018 - knowing what I know now, I would have been far better off either investing in FAANG (Facebook, Apple, Amazon Netflix Google) who were on my list to invest in. Or even just a ftse tracker. If I'd done that I would have been loads better off. But that is with hindsight - at the time paying down a mortgage felt comfortable and safe - and means I have a reasonable mortgage now and the house I hope to be in for a good while. But still gutted I didn't invest, but will we ever see another stock market like the last 10 years for shares? I'd say a good 6 months be
  3. A proper property tax makes so much sense. An average new yorker pays abiut $8k a year in property tax, new york state it is more like $4k. Paid by the owner - not the tenant.
  4. I can only talk for Forest Gate, but ten years ago you could still get a 2 bed house for £200k - 2 years before they were pushing £250k for a 'nice' one. Took a long while to get back to £250 heights, and just a year or so ago was pushing £500k. So yes £200k was still high for what you got, but was lower than it had been, and a bargain compared to today.
  5. It will come to the popular places last. Look to the unpopular places first. Even in a downturn the popular places will hold out longest (though they will drop in the end). We bought in forest gate (when it was unpopular) and it dropped 15 percent in a few months in 2008 and took a very long time to start to rise again. Was a pain for us as wiped out our deposit, but at the same time we wouldn't have moved anyway. Don't stress though, looking at previous drops, they come and you don't need to rush - the rises take a long time to follow, so you have plenty of time for the bottom of the ma
  6. At least you get a garden there. Don't forget loads of youngish professionals who bought in more central locations move that way for space/family and still a reasonable commute.
  7. Just wait until the evictions start and the landlords have to sell (if no one else can afford to rent from them) https://www.axios.com/eviction-crisis-coronavirus-351bb693-a04f-4ea1-a27d-dceb5163af14.html
  8. Now why won't they lend right now? Could it be because they are afraid of houses being with less than the mortgages they've lent? England's first-time buyers with 10% deposit struggle to find mortgage https://www.theguardian.com/money/2020/jun/12/england-first-time-buyers-with-10-per-cent-deposit-struggle-to-find-mortgage?CMP=Share_AndroidApp_Copy_to_clipboard
  9. We are on a 5 year fix now, wish we'd gone for a 10 as would have been a greater incentive to over pay now, but let's see what the market is like when we renew.
  10. Yield Curves Invert in U.S., U.K https://www.bloomberg.com/news/articles/2019-08-14/u-k-yield-curve-inverts-for-first-time-since-financial-crisis Quote: Yield curve inversion is viewed as a harbinger of recession The U.S. government bond market sounded alarms Wednesday as investors fleeing riskier assets drove the 30-year bond’s yield to a record low and the 10-year yield fell below the two-year for the first time since 2007. The 10-year Treasury yield dipped as much as 1.9 basis points below the two-year yield in what’s considered a harbinger of a U.S. economic re
  11. Nah you want 2009 prices for London. The house we bought for £235k in 07/08 (offered 07 completed 08) dropped at least £35k by 2009. First it was crappy houses selling at £199k on our road, but pretty soon that became the ceiling on the road for the next 5 years. And that was with all the levers being pulled to stop them dropping further.
  12. UK housing market at its weakest point in a decade, says Savills https://www.theguardian.com/business/2019/aug/08/uk-housing-market-at-its-weakest-point-in-a-decade-brexit-says-savills?CMP=Share_AndroidApp_Copy_to_clipboard The declines have been led by London, where prices have fallen after years of rapid inflation. The average price of London homes sold by Savills fell by 32%, to £2.1m, in the first half of 2019 compared with the previous year, as the company shifted towards less expensive homes to make up for a weakness in “prime properties” – those worth more than £1.5m. Volumes
  13. Sky have got the message https://news.sky.com/story/house-prices-dip-for-second-consecutive-month-11779178 House prices dip for second consecutive month
  14. https://uk.reuters.com/article/uk-britain-economy-houseprices/uk-house-prices-unexpectedly-fall-in-july-halifax-idUKKCN1UX0Q3 Love that the headline is 'unexpectedly fall' - we've certainly been expecting that!
  15. https://www.getreading.co.uk/news/property/berkshire-house-prices-falling-how-16688870 Not much denying it now, spreading well out of London.
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