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Maximus Skepticus

Housing-Shock-Top-London-House-Prices-Take-Huge-Hit-As-Capital-S-Market-Crumbles

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https://www.express.co.uk/finance/personalfinance/658040/HOUSING-SHOCK-Top-London-house-prices-take-huge-hit-as-capital-s-market-CRUMBLES

As per the blog page for the DM article...this is fully in MSM. Great, let em' burn!!

I can only pray that this indolent smoldering disease has finally escalated and kills this zombie patient once and for all. At least it will turn sentiment more steadily, and like a falling chain, gathers speed....

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https://www.express.co.uk/finance/personalfinance/658040/HOUSING-SHOCK-Top-London-house-prices-take-huge-hit-as-capital-s-market-CRUMBLES

As per the blog page for the DM article...this is fully in MSM. Great, let em' burn!!

I can only pray that this indolent smoldering disease has finally escalated and kills this zombie patient once and for all. At least it will turn sentiment more steadily, and like a falling chain, gathers speed....

I can't deny it --- I'm pretty surprised the Express is reporting this ---- For years they have been RAMPING house prices ad nauseam --- like there's no tomorrow --- often talking a pile of sh@t....

But tbh --- I reckon the London pwoperty "market" is actually in a far worse position than they're willing to admit....

Armageddon - here we come...

Edited by eric pebble

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Oh noes! How dare they impinge on Harriet and Oscar's inheritance.

My pension! My pension! Oh god why won't someone do something to stop this fall in prices and please think of the children!

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https://www.express.co.uk/finance/personalfinance/658040/HOUSING-SHOCK-Top-London-house-prices-take-huge-hit-as-capital-s-market-CRUMBLES

As per the blog page for the DM article...this is fully in MSM. Great, let em' burn!!

I can only pray that this indolent smoldering disease has finally escalated and kills this zombie patient once and for all. At least it will turn sentiment more steadily, and like a falling chain, gathers speed....

health-graphics-20_1080040a.jpg

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THIS THREAD AND POSTS i PUT IN ARE VANISHING!!!!!!!!!!!

ANYONE ELSE SEEING THIS?

Something odd going on with this site. I am getting replies to PMs on my phone but not my PC

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YABU this is "wishing misery" on people!

Ha didn't the express change sentiment a month or so ago? Sold their portfolio.

Isn't wanting rising prices wishing misery on people ?

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HOUSING SHOCK: Top London house prices take huge hit as capital's market CRUMBLES

It's been crumbling for decades to the point that it's pretty much devastated by crazy house prices. It's taken crazy house price hit after even crazier house price hit. Any reversal in that trend is good cause for celebration.

Edited by billybong

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THIS THREAD AND POSTS i PUT IN ARE VANISHING!!!!!!!!!!!

ANYONE ELSE SEEING THIS?

The gremlins were attacking this site yesterday, the posts were not updating real time and sometimes the forum regressed an hour or two. I gave up with it.

On the slowing in the Market...have to agree I am seeing it. RICs forecast a slowing post the BTL stamp duty deadline and that is what is happening.

Not expecting a crash just yet because stock must be at an all time low as we speak. Zirp and tiny sales volumes should keep the indicies ticking over on sideways mode this summer.

Edited by crashmonitor

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Ha didn't the express change sentiment a month or so ago? Sold their portfolio.

Yes I recall a couple of threads from a few weeks ago where the Express changed their stance, even mentioning words such as "crash".

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http://www.globalpropertyguide.com/Europe/United-Kingdom

'“London is definitely on the way down,” said Jim Mellon, an entrepreneur and investor. "You´re getting the Russians withdrawing, you´re getting a huge metal building, and I have read that there are 41,000 new units being built in London. All of which priced to £1 million but last year only 3,000 properties were sold for more than a million pounds in London. So I would say it is way overbuilt, way overleveraged, and way overpriced."

According to RICS, in February 2015 house prices declined in London for sixth month in a row while the rest of UK is experiencing house prices increases.'

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The gremlins were attacking this site yesterday, the posts were not updating real time and sometimes the forum regressed an hour or two. I gave up with it.

I think there's a caching issue but generally just refresh your browser to get the latest updates. If you haven't deleted your browsing history for a while that should help too. I'm using Chrome on OSX and it's better today.

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With such a huge amount of London property being held overseas, makes you wonder if it is down to some of them pulling out for one reason or another?

Maybe this could be one reason?...

http://www.theguardian.com/news/2016/apr/05/panama-papers-world-leaders-tycoons-secret-property-empires

The British government recently launched a consultation into whether to force offshore property owners to disclose their identities after David Cameron expressed concern that UK properties “are being bought by people overseas through anonymous shell companies, some with plundered or laundered cash”.

I took this interesting article taken from our front page... over £170bn of UK property now held overseas it says, muh of which is in London.

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http://www.globalpropertyguide.com/Europe/United-Kingdom

'“London is definitely on the way down,” said Jim Mellon, an entrepreneur and investor. "You´re getting the Russians withdrawing, you´re getting a huge metal building, and I have read that there are 41,000 new units being built in London. All of which priced to £1 million but last year only 3,000 properties were sold for more than a million pounds in London. So I would say it is way overbuilt, way overleveraged, and way overpriced."

According to RICS, in February 2015 house prices declined in London for sixth month in a row while the rest of UK is experiencing house prices increases.'

Good summary of where we are - and have been for years. :rolleyes:

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Desperate. And that only applies to the developers holding unsold stock. What about the speculators holding ones and twos? No institutional route out for them.

If I found out that my pension fund was investing in this sort of nonsense I'd be moving fund.

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