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House Price Crash Forum

kzk

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About kzk

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  1. i've posted elsewhere about possibly buying a property here in the uk. however...the reason why i'm soooo unsure is because i've witnessed the property crash in japan in the mid-90s. at the height of the "bubble" economy, property prices were going up like mad....and everyone said that it will never crash because japan is an island country and land area was limited. come mid-90s, the bubble bursts and property prices literally crashed. although central tokyo (and i mean really central...equivalent to covent garden or chelsea in london) only managed to narrowly escape the crash (more like a minor correction), elsewhere prices dropped like a stone. i have literally seen a flat in greater tokyo drop from 400,000pounds to 175,000 pounds in a matter of few weeks. scary.... now...i know japan and the uk aren't the same. but....are we up for something similar here as well??
  2. if you end up in a small house with a small room, you might not have enough room to play with wii....look at youtube clips where people are smackin their flat screen tv with their wii controllers.
  3. barbican is like totally crazily priced. my colleague bought a studio there for 290k this year.
  4. i'm just keen to know how crash-proof london is, and what the skeptical view of everything would be... i mean, i am skeptical myself but i guess i kinda wanted a reality check. on one hand, a crash would be nice as that would bring house prices down....the question being when.... also...london is a crazy place where a lousy studio in a nice area can easily fetch 250k... as krusty would say, it's location location location
  5. after refraining from buying for the last few years, I was thinking maybe it's time I bite the bullet, buy a flat, and get on with life. i figured out i could probably get a mortgage for around 230k...i work in london, and i'm single. i was looking around on the internet for something nice. came across flats in bow quarters in east london. i was wondering several things. 1. i've been following some of the threads and know how volatile the housing market is....but is the potential crash really gonna be that significant to the point of slashing london property prices? and most of all, is it gonna happen in like 10 years? 2. how is bow like? i live near shoreditch, but quite frankly haven't really ventured eastwards at all. and does anyone know anything about bow quarters? thanx.
  6. in addition to the above, what also scares me at the moment is how this whole pmetb/mmc thing is gonna affect me next year....esp bcuz i'll be making the transition from sho to spr around that time. btw, my friend's 275k flat is in nw london....zone 3.
  7. ok...so i'm a 29 year old single doctor in central london... my paycheck is healthy...but when it comes to property prices, i feel completely powerless. i mean, the prices in london (nw1/2/3, ec1/2/3/4, wc1/2, w1/2, etc) are just out of reach. like, am i lookin at the wrong places or is the london property market just gone mad?? i'm now reachin this point in life where i want to own a property....and if i really really really stretch my finance, it's not unrealistic. however, i'm just way too scared about the impending x-day.... a friend of mine recently bought a 2 bedroom flat in a newly built devt for 250k....apparently was reduced from 275k in one single round of negotiation. though he's happy with the purchase, i'm just way too skeptical about it... am i being paranoid, or using common sense?? i'd like to know what everyone thinks about the outlook on the central london property market...
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