Jump to content
House Price Crash Forum

niceandpolite

New Members
  • Posts

    20
  • Joined

  • Last visited

About niceandpolite

  • Rank
    Newbie
    Newbie
  1. Check out this guy (the agent). According to him property is still zooming up. All his stuff is 20% above anythign that has ever traded in the streets concerned....properly hilarious. http://www.primelocation.com/uk-estate-age...cusl/uk/y/sr/s/
  2. So....take away haddock and chips is at least a fiver...bottle of becks £1 from the off licence..give or take. I think being served it in a restaurant for £15 (which, by the way incudes vat) is about right....Jesus, i spend a fiver in pret a manger for lunch and i don't even like their stuff. CHEAP!
  3. What's clear from almost all forums that relate to 'life' finances work etc is, in my humble opinion, how lazy people now are. Our parents grew up in the post war age when they had to save for a washing machine and certainly didn't spend £100 (or equivalent) at a club on a saturday night. This hardworking frugal generation have done well and standards of living have improved inexorably. I would be embarassed to be taking money off my parents unless i was desparate.,...and i mean desparate.... My view is that some people fail in society, some people end up poor, even homeless. Do what you have to do to avoid this. Other people suceeding and buying houses is just part of capitalism: you get paid for owning stuff.
  4. errr....they will borrrow it in the open money mkt. This is one of the reasons loans are getting easier to get; that there is an appetite for credit risk from international funds. It's all lnked..US deficits, everything. If it goes tits up, then it will really go tits up, but chances are that it won't and 'shocks' will be absorbed more easily than ever before. This is why, worldwide, assets are all expensive. It's capitalism...you get paid for owning stuff. How on earth do people on here have the time to make 7000+posts, by the way?
  5. I totally agree. The point is that things are more risky at these valuations..but that doesn't mean that they won't rise. It is probable that they will rise more slowly, however. There seems to be some doubt as to whether the prices in K&C have really risen 25%in 2006..well, trust me, they have. Search for houses on primelocation in w11 between £1m and £2m. Answer=none, except for the end down by the west cross route and it's associated council estates. I've been looking for a while, and have a good deposit...things have gone from about £800 sq/ft for notting hill houses without much of a garden to £1050 ish for the same. A 4 bedroomer with a lawned garden/communal garden is changing hands for around £1100 to £1200. 'Celebrity' houses 5000 sqft and ludicrous interiors more than that. As a result K&C is getting away from 'normal' people on £100k a year who will push stuff up in wandsworth etc. No one talks about Belgravia and Mayfair property on here do they?...Well, back in the early 90's there were a few from my industry who owned there, but now is super rich and foreign (or both) only. I expect the garden squares of Notting hill to be viewed in the same way in 20 years time. Nowhere is immune from a bird flu attack, which of course, in it's worse possible incarnation could cause a total civilisation melt down, but that can't be a part of a normal discussion on prices now, except for what i said at the beginning about risk. It will be irrelevant in the case of a bomb or plague whether stuff goes down 40% or 80%...much more important whether you have have tinned food and a way of defending it!!!
  6. Nothing has changed...for 50 years you do the same sums...: 1) Do i want to live there 2) Can i afford it now..and if interest rates go up some. 3) Is my job reasonably secure..to the point where I won;t be pantsing it about my mortage every day. If yes, yes, yes...go ahead....and don't listen to the doomsday predictors on here..They have been wrong for years....and in the long run only one thing is certain we will all be dead. I've just bought somewhere..really enjoying it...couldn't care less if it plummets, co i'll sell it and buy a bigger one. which is why it won't happen..
  7. That is a criminal offence, you are planning......let'e hope you never want to come back.
  8. I agree with some of the posters here thus:.. pointless to talk about 'outsiders' londoners, etc..i mean they are only 2.5hrs apart!! You got to where you can get the best job for yourself and make the best of whatever opportunity comes your way. There is a GENERAL problem is that the opportunity and wealth in the world, let alone the country is being skewed towards finacncial services away from more old fashioned industries, and to an extent that might mean that only rich people in general will be able to buy accomodation and everyone else finds life tough. This is clearly not great for anyone, but it's tricky to know what to do about it, as if you tax the phenomenon it (finacnical industry) leaves and the whole country would not be able to support the level of public sector spending that we now have. If you live in Dorset and earn f all...then sorry but you have to leave to find better work..tough. It's not like you're on a wagon train heading west escaping the drought and famine in the US mid west...you're just unlucky about where you live..marginally. You will be replaced by people who have endured the lack of beach and views to find success in the south east...who are now moving out for lifestyle reasons. Me: Grew up in Dorset...went to London with a 2k overdraft. Working hard doing OK....hoping for a retirement back in the shire!!! I miss the sea..tough shit.
  9. Interestng and correct point made by Rees- Mogg in the times...the market is ful of buyers at the top but then I think the same is true of a market halfway up..This makes it impossible to predict the top. There is still unrelenting competition and bidding wars in Kensington and Chelsea..sealed bids etc..feels lik it did in 1999. Very hard to call it down...nad property is still affordable at almnost any level if you are making £500 a year.
  10. Sorry chief. I'm afraid that Benanke is an american...he was talking about hte US housing market. By the way..Us interest rates went down to 1% after 9/11...not suprising their housing market went mental!
  11. There may be nothing 'special' about the people who work in the city...but there are certainly a lot of them. Sounds like you had an unenjoyable time...but does that make everyone else a 'tosser'? I've worked (modestly) in a city realted job since 1993 and all i see is people tying to earn a living. I don't agree with you about 'living on tradition' either. The city of london is at the cutting edge technologically, and academically. Is the chinese guy next to me with a pHd in stochastic pyhsics living on tradition...? He's certainly not a n arrogant public school boy!!! As for a cyclical downturn in the city, i wouldn't bet on it, yet. There is more and more centralisation of capital, capital flows and financial services on a worldwide basis. Fact: the ftse went down to 3300 recently and almost no on got laid off....it is now back up to 6000 and house prices in the smart bits of london are going nuclear again. Says it all really. I've said this elsewhere, the early 90's debacle was a massive epsiode of economic mismangement for 4 years: the ERM mess. We had interest rates double what they should have been for years. 'tis a bit overcrwded though!!!!
  12. Forget the olympics, or rather don't forget it but put it on the back burner.! Have you seen canary wharf recently..it makes the city of london in the 1980's look like a fruit and veg market. Hang on to your east london gaff...it's going to go skywards
  13. This is the thing i can't understand: A lot of people i meet have small mortages...a lot of them have good jobs and expensive houses in clapham, wandsworth Kensington and chelsea. They can all afford them and wouild not be bothered if they went down..Ken and chelsea is up 20% this year..so it will take some crash to make any difference. Anecdotally, everything seems like it will go up...a lot. There's nothing for sale and there are hundreds of people looking. Rents however are so much cheaper than the mortage on the place....which is very unusual. What's that about? German cities have almost no owner occupiers as this rent/mortage thing has stayed 'out of line' for about 25 years. The stock is mostly owned by companies. Maybe that happens here? DOn't bother telling me that Ken and Chelsea is about to crash..it might do ..but it's got another 25 % in it yet cos there are no sellers!! I think that chat about 1989 is misleading. London's place as a fashionable capital (e.g. for russians) and as a world financial centre is on a totally different level to those days....and of course we're not shadowing the DM or euro, either so we won't, hopefully have a long period of 'wrong' interest rates for the economic cycle.
  14. Sorry, what is Mew? My ignorance. Anyway, prices crack on in central london. The central theme is affodability. People earn loads in central london so prices aren't wrong. There must be differences is different parts of the UK market; by common sense there isn't one view for the whole market. BTL new developments in less prosperous parts of the uk must be more vulnerable to the current indebtedness of the population. It will take a sustained downturn in financial services and the fashionability of the capital to foreigners to crash ken/chelsea/wandsworth. No one talks about houses in Belgravia, do they? That's because they've become super rich foreigner bulletproof. Chelsea heading that way, therefore professionals moving to clapham. I repeat my view that there will be a stretch: £2m up even more; £200k houses, particularly provincial, flat or down. Just my view, look at my posting name, and no abuse please, doomwatch!!
  15. Only rumours. A lot of people i know trying to get in on the Margate area as it is 'too cheap'.
×
×
  • Create New...

Important Information