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Edinburgh Property Speculators

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That article is interesting for the tone. Even back in 2003 people were wary of the rapid increase in house prices here. Even citing the average house price at 6 times earnings as something to worry about. And all of this in the Scotsman of all places. Somehow this managed to carry on for another 5 years. Quite astounding really when you think about it. Sheer mass delusion. Yet they are still at it.

This guy seemed to have quite a decent plan at the time. Only recommending borrowing at 60% LTV etc.. He must have got sucked in by all the nonsense as well. Unless of course what he was doing was very different from his recommendations.

Also rather interesting to note that rents today are actually probbaly lower than 6 years ago. Chances of a full page spread in the Scotsman advertising that fact ? Slim to zero.

"opting to rent traditional two-bedroom tenement properties with a friend where the rent is, say, £650 a month, but the standard of accommodation higher and quality of life better.

While buyers may struggle to cut a deal, Mr Dickens, a qualified quantity surveyor, says: "It’s still a tenants’ market. If you were looking to rent at £650 a month, chances are that most landlords would negotiate if someone said they’d only pay £600."

While buyers may struggle to cut a deal, Mr Dickens, a qualified quantity surveyor, says: "It’s still a tenants’ market. If you were looking to rent at £650 a month, chances are that most landlords would negotiate if someone said they’d only pay £600."

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