TheCountOfNowhere Posted October 28, 2015 Share Posted October 28, 2015 Everything under control? http://uk.mobile.reuters.com/article/idUKKCN0SL1X520151028?irpc=932 banker says, let's help the banks. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted October 28, 2015 Share Posted October 28, 2015 It is at the point now where even a 50% fall in asking prices would still not actually see sane prices. In Cambridge ONE MILLION POUNDS gets you a terraced new build in a not great location http://www.rightmove.co.uk/new-homes-for-sale/property-55561805.html I agree. 50% fall would still be expensive in many parts of London. A colleague has a £1 million house, if prices had gone up with inflation since their parents bought it, it would be £60K! Quote Link to comment Share on other sites More sharing options...
copydude Posted October 28, 2015 Share Posted October 28, 2015 I agree. 50% fall would still be expensive in many parts of London. Yes. London prices have risen over 40 per cent since the 07 peak, very much at odds with the rest of the country. But so much of it is foreign money . . . Greeks, Russians, whoever . . . and I don't see any reason for a large exodus of foreigners. Quote Link to comment Share on other sites More sharing options...
sikejsudjek Posted October 28, 2015 Share Posted October 28, 2015 (edited) This is a classic bubble. Watch the herd stampede for the exit when they realise the speculators have sold out. The fact that there is so much laundered money involved makes it worse. I doubt mafia types are too keen on returning to their foreign bosses with a loss ! The Chinese might be forced to sell up to cover margin calls. Edited October 28, 2015 by sikejsudjek Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted October 28, 2015 Share Posted October 28, 2015 Yes. London prices have risen over 40 per cent since the 07 peak, very much at odds with the rest of the country. But so much of it is foreign money . . . Greeks, Russians, whoever . . . and I don't see any reason for a large exodus of foreigners. Agree. Friend's work colleague in London just told her that their house - been trying to sell for 2yrs now, but fell through each time due to issues further down the chain - is about to complete. Russian buyer has appeared and the chain is complete...just need to check that his funds can cover it and money is legit ... so no worries there , then. No doubt UK banks, solicitors will turn a blind eye as they all stand to gain (there are 5 houses in the chain). Depressing for anyone under 40 trying to buy their first place. Quote Link to comment Share on other sites More sharing options...
pipllman Posted October 28, 2015 Share Posted October 28, 2015 anyone relying on dividend income from the Deutsche Bank shares to buy a house is now going to be waiting until at least 2017: no dividend this year or next https://www.db.com/ir/en/content/ir_releases_2015_5064.htm Quote Link to comment Share on other sites More sharing options...
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