iamnumerate Posted February 18, 2021 Share Posted February 18, 2021 49 minutes ago, GregBowman said: London isn’t toast economically those numbers just bring it back to late 80’s population levels - don’t remember stepping over bodies in the street ... It will realign itself and sooner or later tourism will come back - Buck Palace hasn’t vaporised But I might of read it wrong if you mean the property market - I would agree the stupid over development and obscene bubble may well have popped However there will be plenty of younger people waiting in the wings and retirees who are Londoners eyeing up the market so I would say at 40% drops the market would turn Even 40% drop would still make houses in many places expensive in real terms compared to the late 90s! Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 18, 2021 Author Share Posted February 18, 2021 20 minutes ago, iamnumerate said: Even 40% drop would still make houses in many places expensive in real terms compared to the late 90s! That's the comedy of the whole thing. The builders are all building unaffordable homes but people are buying them. Commons sense has gone out the window, it's like it's some kind of a mania.... Quote Link to comment Share on other sites More sharing options...
onlooker Posted February 18, 2021 Share Posted February 18, 2021 2 minutes ago, TheCountOfNowhere said: That's the comedy of the whole thing. The builders are all building unaffordable homes but people are buying them. Commons sense has gone out the window, it's like it's some kind of a mania.... It's the mania of a fiat currency, with zero or even negative interest rates, and certain to loose value over time. Combined with limitless immigration. People are just making sensible buying decisions. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 18, 2021 Author Share Posted February 18, 2021 57 minutes ago, onlooker said: It's the mania of a fiat currency, with zero or even negative interest rates, and certain to loose value over time. Combined with limitless immigration. People are just making sensible buying decisions. Did you see the report of 1 million people have left the UK ? People are making idiotic buying decisions based on profits from a pyramid scam thinking it'll never end. Quote Link to comment Share on other sites More sharing options...
onlooker Posted February 18, 2021 Share Posted February 18, 2021 3 hours ago, TheCountOfNowhere said: Did you see the report of 1 million people have left the UK ? People are making idiotic buying decisions based on profits from a pyramid scam thinking it'll never end. How many have left for good? How many have (hopefully temporarily) lost their jobs due to Covid, and have gone to spend the broader lockdown period with their families in Poland etc? They will be back. Quote Link to comment Share on other sites More sharing options...
A17 Posted February 18, 2021 Share Posted February 18, 2021 4 hours ago, crow said: Anyone else I've ever known to get a holiday place has regretted it swiftly. Either they were sold on the 'guaranteed rental' that never appeared, or just hated going to the same place each year, or found the costs/hassle/issues far far bigger than just booking a hotel anywhere they fancied. Same story with any friend who has bought a boat (apart from a couple of guys who live-aboard) - boats are just a money and time sink - doesn't matter if you get a cheap one or a £40k one - stuff goes wrong all the time and you have to keep them well looked after or you end up screwed out to sea or sinking. The happiest two days in your life: the day you buy the boat, and the day you sell the boat. I know a few people who either scrimped and saved to buy a boat, or bought it with a lump sum inheritance. Unfortunately they hadn't accounted for the costs involved and had to sell them a few years later. Insurance, mooring fees, storage on land in winter, a hundred other things. Motor boats only get a few MPG - it can easily cost you nearly £100 in fuel to take it out to sea for a few hours! Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 18, 2021 Author Share Posted February 18, 2021 (edited) 21 minutes ago, onlooker said: How many have left for good? How many have (hopefully temporarily) lost their jobs due to Covid, and have gone to spend the broader lockdown period with their families in Poland etc? They will be back. Lets hope not. Anyone who is thinking about the bigger picture should see that the British people are becoming poorer and poorer. The are being marginalized in their own country. The slightest economic shock or £ collapsed could see a lot of very angry people. Guess who they'll turn on. Guess who will get blamed. If they've any sense they wont come back. If they are still here, if they had any sense they'll leave. Edited February 18, 2021 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 18, 2021 Author Share Posted February 18, 2021 1 minute ago, A17 said: The happiest two days in your life: the day you buy the boat, and the day you sell the boat. I know a few people who either scrimped and saved to buy a boat, or bought it with a lump sum inheritance. Unfortunately they hadn't accounted for the costs involved and had to sell them a few years later. Insurance, mooring fees, storage on land in winter, a hundred other things. Motor boats only get a few MPG - it can easily cost you nearly £100 in fuel to take it out to sea for a few hours! Better to rent one. Mate of mine had a 26ft ( I think ) yacht, cost him a fortune but he loved sailing. Anyway, used it 10 times over 3 years. Cost him about £4,000 per go. He could have rented a 55ft yacht in the med for 2K a week. Quote Link to comment Share on other sites More sharing options...
longgone Posted February 18, 2021 Share Posted February 18, 2021 29 minutes ago, TheCountOfNowhere said: Lets hope not. Anyone who is thinking about the bigger picture should see that the British people are becoming poorer and poorer. The are being marginalized in their own country. The slightest economic shock or £ collapsed could see a lot of very angry people. Guess who they'll turn on. Guess who will get blamed. If they've any sense they wont come back. If they are still here, if they had any sense they'll leave. Makes you wonder what the reception will be with a load of Hong Konger`s coming here after wuflu Quote Link to comment Share on other sites More sharing options...
A17 Posted February 18, 2021 Share Posted February 18, 2021 46 minutes ago, TheCountOfNowhere said: Better to rent one. Mate of mine had a 26ft ( I think ) yacht, cost him a fortune but he loved sailing. Anyway, used it 10 times over 3 years. Cost him about £4,000 per go. He could have rented a 55ft yacht in the med for 2K a week. The good thing about boats is they tend to hold their value, so he would have probably got most of his purchase money back. It is the running costs that kill you. At least sail yachts don't need fuel most of the time. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 18, 2021 Author Share Posted February 18, 2021 7 minutes ago, A17 said: The good thing about boats is they tend to hold their value, so he would have probably got most of his purchase money back. It is the running costs that kill you. At least sail yachts don't need fuel most of the time. IIRC the brokerage fees and depreciation lost him about 50%, mostly the brokerage fees. Estate agents for boats. Quote Link to comment Share on other sites More sharing options...
debtlessmanc Posted February 18, 2021 Share Posted February 18, 2021 18 minutes ago, A17 said: The good thing about boats is they tend to hold their value, so he would have probably got most of his purchase money back. It is the running costs that kill you. At least sail yachts don't need fuel most of the time. Canal boat owner, if you do repairs yourself its can be cheap. However, te gov are intent on stopping the use of red diesel in them, that is a bit of a threat to live aboards. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 18, 2021 Author Share Posted February 18, 2021 29 minutes ago, longgone said: Makes you wonder what the reception will be with a load of Hong Konger`s coming here after wuflu British people dont tend to be racist, when they're cold and hungry they'll turn on everyone Quote Link to comment Share on other sites More sharing options...
longgone Posted February 18, 2021 Share Posted February 18, 2021 1 minute ago, TheCountOfNowhere said: British people dont tend to be racist, when they're cold and hungry they'll turn on everyone I`m alright i have a priced out London accent Quote Link to comment Share on other sites More sharing options...
winkie Posted February 18, 2021 Share Posted February 18, 2021 6 hours ago, crow said: The only people I know who a holiday house actually worked for were a pair of nicely off teachers who bought an apartment the 'quiet' side of ibiza in the 90s. They went there every single school holiday with their kids and the kids went there whenever they could as adults. Now they are retired they split their time between the two. Their UK house is near and airport which makes it very easy for them. They have never rented it to anyone, so it sits empty a lot of the year, but they could afford to so it didn't bother them, and they preferred to be able to go whenever they wanted and leave all their stuff, clothes etc in the cupboards. Anyone else I've ever known to get a holiday place has regretted it swiftly. Either they were sold on the 'guaranteed rental' that never appeared, or just hated going to the same place each year, or found the costs/hassle/issues far far bigger than just booking a hotel anywhere they fancied. Same story with any friend who has bought a boat (apart from a couple of guys who live-aboard) - boats are just a money and time sink - doesn't matter if you get a cheap one or a £40k one - stuff goes wrong all the time and you have to keep them well looked after or you end up screwed out to sea or sinking. I always had a vague fantasy about buying a holiday pad, and at one point was all set to go halves with my dad in a £15k three bad house in Limousine - but then realised how rubbish the weather is there and that is was cheap as it was a pain to get to. After that I realised what a stupid idea it was for me. Why do people buy in another country?.....not many do rent it out if they want to be free to use it, taxes and regulations, extra costs, agents, advertising, cleaning and a home not your own but a business? Business is business. Islands are great but not a lot of room to venture out of........open jaw holidays means can move from place to place on land......fly into one place and fly out of another......or drive into one place and drive out of another. Any base does not mean would stay in that base, use it as a base. Quote Link to comment Share on other sites More sharing options...
wighty Posted February 18, 2021 Share Posted February 18, 2021 (edited) 40 minutes ago, debtlessmanc said: Canal boat owner, if you do repairs yourself its can be cheap. However, te gov are intent on stopping the use of red diesel in them, that is a bit of a threat to live aboards. I've been in group ownership schemes for canal/river boats - very cost effective. 6-8 owners, 2 weeks summer, 1 week spring, 1 week autumn and winter weekends (plenty of those going spare). No depreciation as the other owners bought back your share at cost. Often stayed put like Stratford, Bath, Oxford, Bristol, Leeds rather than do alot of miles so saved on fuel. Owners did alot of maintence themselves - from change oil to new engine. Any replacement costs - divide by 6 or 8 Edited February 18, 2021 by wighty Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 18, 2021 Author Share Posted February 18, 2021 25 minutes ago, longgone said: I`m alright i have a priced out London accent What if we all turn on the Londoners, it's clearly their fault 😉 Quote Link to comment Share on other sites More sharing options...
longgone Posted February 18, 2021 Share Posted February 18, 2021 4 minutes ago, TheCountOfNowhere said: What if we all turn on the Londoners, it's clearly their fault 😉 best avoid the area around bank station wearing a Saville row suit and hair gel for a while. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 18, 2021 Author Share Posted February 18, 2021 1 minute ago, longgone said: best avoid the area around bank station wearing a Saville row suit and hair gel for a while. Quote Link to comment Share on other sites More sharing options...
winkie Posted February 18, 2021 Share Posted February 18, 2021 Just a thought.......the cost of travelling anywhere will increase, will that mean more if able will spend a longer period of time away from home if they want to leave home.......small world? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 18, 2021 Author Share Posted February 18, 2021 16 minutes ago, winkie said: Just a thought.......the cost of travelling anywhere will increase, will that mean more if able will spend a longer period of time away from home if they want to leave home.......small world? 90 days out of 180 max. Not sure I'd want to be sat with a bunch of brits abroad for that long Quote Link to comment Share on other sites More sharing options...
winkie Posted February 18, 2021 Share Posted February 18, 2021 3 minutes ago, TheCountOfNowhere said: 90 days out of 180 max. Not sure I'd want to be sat with a bunch of brits abroad for that long Who says have to be sat anywhere, or sat with anyone in particular. Quote Link to comment Share on other sites More sharing options...
steve99 Posted February 18, 2021 Share Posted February 18, 2021 On 16/02/2021 at 00:04, TheCountOfNowhere said: How would you feel if it were your sun loungers ? She was happy to rent her house out so should have rented her sun loungers out. Anyway, I contacted an EA in spain yesterday and they confirmed to me that prices are falling and they dont know how bad it's going to get. I do love an honest estate agent. Been looking at the visa issue. As it stands the Brexit voting Wetherspoons devotee who had planned to retire to the cheaper parts of the costa's is out of luck. A non-lucrative visa, as they call it, requires you to have an income of circa 2K Euros per month or prove circa 24K Euro's in advance every year, then you need private medical insurance which works ok until you get some chronic or serious illness. Nice to know about the falling prices however my inclination is to Greece where I can see properties sitting for a very long time but with stubborn sellers hanging on. I want a tiny studio flat for my other half while I spend time on a cheap yacht (and they are cheaper in Greece). She refuses to step foot on a yacht unless it is chained up to a marina otherwise a decent yacht would have done the trick (depending on visas). Quote Link to comment Share on other sites More sharing options...
coypondboy Posted February 18, 2021 Share Posted February 18, 2021 Bought in Austria near Halstatt in the Salzkammergut area along with many other Brits when they opened up thier property market in 2005. It is a 2 bed apartment in a hotel and allows us to ski on the cheap by buying an annual pass so the daily lift pass is 10 euros instead of 48-55 euros. Also great in the summer for mountain biking and walking or visiting nearby Salzburg. The exchange rate was good at the time about 1.46 euro's to the pound and we have had lots of good ski hols and summer hols there without paying the ususal high cost if done via inghams/crystal lake & mountains or ski hols as we had always done previously. When not using it we rent via booking.com and only need to let for 30 days to cover service charge from hotel so easily done which the extra covers our car hire and flights from UK so basically get free holidays 3=4 times a year. Had some friends who bought in cyprus using a swiss franc mortgage at a similar time but now in serious negative equity and preying the cyprus bank won't come after them now we are out of europe. Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted February 18, 2021 Share Posted February 18, 2021 45 minutes ago, steve99 said: Been looking at the visa issue. As it stands the Brexit voting Wetherspoons devotee who had planned to retire to the cheaper parts of the costa's is out of luck. A non-lucrative visa, as they call it, requires you to have an income of circa 2K Euros per month or prove circa 24K Euro's in advance every year, then you need private medical insurance which works ok until you get some chronic or serious illness. Nice to know about the falling prices however my inclination is to Greece where I can see properties sitting for a very long time but with stubborn sellers hanging on. I want a tiny studio flat for my other half while I spend time on a cheap yacht (and they are cheaper in Greece). She refuses to step foot on a yacht unless it is chained up to a marina otherwise a decent yacht would have done the trick (depending on visas). A friend who works for Croydon council was saying they are already getting a trickle of mainly elderly ex expats coming back and asking for a council house. Quote Link to comment Share on other sites More sharing options...
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