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Global Property Boom Over

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I was watching the Barnett Ross auction online yesterday, so many properties did not hit the reserve 

I do think London is so over, now all we need is a 70% property crash 

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19 minutes ago, prozac said:

I was watching the Barnett Ross auction online yesterday, so many properties did not hit the reserve 

I do think London is so over, now all we need is a 70% property crash 

Its definitely lowed up here (Norfolk) but still few bargains.

methinks the London differential is so much that the ripple has taken out the top but still impacts the 300 > homes at this stage.

Flats down, top end down middle same as last year.

It is getting patchier and patchier all the time though I keep posting it but any increase in inventory would bring prices down 10% right away.

I never seen anything like it perfectly matched supply its almost like everyone gets together to drip the family properties on.

Edited by Fromage Frais

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22 minutes ago, prozac said:

 

I do think London is so over, now all we need is a 70% property crash 

Is that enough to surpass the error of not buying post 2012 pre HTB

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The big question is do they drop or is it just a massive pause while the regions pickup the strain.

The London centric media has now moved to focusing on house moves elsewhere to provide good news ramping stories. Just hope the ripple reaches here soon before next gov wheez kicks in

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5 hours ago, bear.getting.old said:

The VI's have conveniently ignored the falls in the south and are concentrating on ramping prices in the north

First rule of ramping: price rises are always predicted for the future and price falls are always reported as something that happened in the past.

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1 hour ago, Captain Kirk said:

Because the BoE would rather trash sterling and impoverish workers and savers than let house prices return to normal?

Although I agree with your sentiment and view of the BOE, they are not invincible and neither is the global economy. There will be a reset of some sort but I am not sure it will be comfortable, especially for us mere mortals.

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Note it says the "Boom" is over, which it clearly has Benn for at least a year. Nothing new really. We are at the flat lining point now, and it may just stay flat, or hopefully a decent fall.

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18 minutes ago, LesDawson said:

Note it says the "Boom" is over, which it clearly has Benn for at least a year. Nothing new really. We are at the flat lining point now, and it may just stay flat, or hopefully a decent fall.

bubbles never flatline its boom or bust....so its bust....you can see it happening out there now....pity any sucker who bought a newbuild in this epic correction...

https://www.rt.com/shows/renegade-inc/459184-home-building-house-cards/

This is a fantastic piece....why do we never get this stuff on mainstream media.....?

I know the answer of course...too high brow for most of the Proles and mainstream media are politically captured govt mouth pieces....

If you know anyone considering HTB or even a new build without HTB....this should be a must see....

I recall some poor family not allowed to inspect their new home (Persimmon company policy) before exchange....OVER 700 DEFECTS....

What this episode says is very interesting ...

 

"THESE ARE NOT HOUSEBUILDERS THEY ARE A CONTRACT MANAGEMENT COMPANY"

Their business model is to buy land and sell it for more than they bought it for......getting houses built to achieve that end is a means to an end...they are land price speculators not HOUSE BUILDERS..

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3 hours ago, Captain Kirk said:

Because the BoE would rather trash sterling and impoverish workers and savers than let house prices return to normal?

Yes but is not the fact that if they do that and the pound slips below parity with the euro and even the dollar.....its the equivalent of the scenery falling down....the proles like their trips to florida and Magaluf.....not to mention expesnive imports.....like bmw's...there will be a lot of anger....i do see parity like a line on the sand when the masses will wake up....so as we are so close to that line how far an they afford to go....when sterling was 1.70 to the euro people don't noticce so much...they do but not up in arms.....you sudddenly change 100 quid and get 70/80 euros....you are going to consider the pound a load of rubbish......how much more can they pee in that guys beer when he aint looking before he notices ?

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23 hours ago, Staffsknot said:

The big question is do they drop or is it just a massive pause while the regions pickup the strain.

The London centric media has now moved to focusing on house moves elsewhere to provide good news ramping stories. Just hope the ripple reaches here soon before next gov wheez kicks in

Apparently 20% of buyers/ftb in North Norfolk are from London.

Northern Salaries southern house prices.

Another 10% off London should do it on another thread I saw a nice South croydon 200m2 detached 800/900k (would rent for 3k a month 4%) same house here 550/650k (rent for 1600 a month sub 3%).

Another 10% off that London price and your talking harming your career opportunities and those of your kids to save 100k?  Throw a commute cost in there and I dont see the logic.

 

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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