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Warble

So the conundrum

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Hello, long time lurker just back from a property viewing. I guess the question is, to buy a property or just throw it elsewhere at this point. I have been chucking money away since post-2008 and have been watching the market survive well past many former predictions. If I had jumped in just two years earlier the asking price of the house I just viewed would be less 40 - 50k due to the bounce.

Does anyone have any predictions at this point, the situation is truly hard to judge for the economically illiterate.

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55 minutes ago, One-percent said:

It'll be 100k less in 6 months. Walk away and stop playing at the casino. 

Do you have some inside information about Hammy sacking the gimp? ;)

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3 minutes ago, GreenDevil said:

Do you have some inside information about Hammy sacking the gimp? ;)

Nope, just a stab in the dark along with everyone else.  Who knows where this is going.

funny enough daughter who has been mentioned on here has just arrived home after a meal out with an old school friend. Bearing in mind that she is desperate for independence, her mate, with the help of rich bomad, has just bought a shared ownership place in limehouse.

Apart from the fact that I would not live there if paid, we had a discussion on the merits of this, with her wondering if she should do it (minus the bomad bit). Out came hpc wisdom from me.  She agreed and, which I thought was very astute from a 23 year old, said that she could not understand the mad prices. We had a very good discussion on where it was going. 

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That is great she is showing interest at a younger age, I was nearing in my 30s before I started to pay attention. Viewed several now and my perception is they are all overvalued, it is strange how we perceive it. One EA who was quite open thinks the march is going to continue and was explaining the local land banks and development plans around that property which would spike it even more. He seemed astutely aware that the situation had to be maintained and if it ground to a halt there would come a lot of social issues.

One property I liked had an elderly couple who had lived there for 40 years but the husband is now off his feet, they need to downsize to a bungalow but are catching it on the other end as such trying to find something suitable.

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8 minutes ago, buckers said:

You could have had the very same 'sane' conversation with an astute 23 year old 10 years ago and it would have made perfect sense, the housing market was totally out of whack in 2007 with nowhere to go but down.

It's even more out of whack in 2017.

Agree. It is totally off the scale in terms of madness.  The only way, afaict is down.  Mind, I've been thinking that since about 2002 with the London market.  

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