No Crash Here Guys, Sorry.

[BoomBoom]

http://www.rightmove.co.uk/viewdetails-151...=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-844...=2&tr_t=buy

http://www.rightmove.co.uk/viewdetails-154...=4&tr_t=buy

And the madness will continue until a modest home is 100 times average earning and we have integenerational mortgages.

[me me me]

wow, they are so bad I am left totally perplexed as to whom would buy such a thing. Those properties are screaming crash!

[@contradevian]

wow, they are so bad I am left totally perplexed as to whom would buy such a thing. Those properties are screaming crash!

They are screaming move to "overpriced sh*thole thread to me. Who in their right minds would pay £300k for that rubbish?

[Greenstuff]

Yeah they are rubbish, if you want class you need to spend well over half a million quid for yer 3 beds.

Ok it's not London but you can get the train there in just 40 minutes.

AND theres parking for the 4 cars you can buy with your MEW when the market continues skyward.

Courtyard is as good as a garden yeah?

http://www.rightmove.co.uk/viewdetails-161...=1&tr_t=buy

[lets get it right]

Unless you live in London, you just have to divorce yourself from it.

It seems to be a two-tier economy now.

Some people will pay 300k - you couldn't pay me to live there.

[enworb]

£300k between a couple on London salaries is very affordable. I don't see how these examples can be used to prove properties are overpriced.

There are leasehold flats for more than that in Windsor...where people only earn Windsor wages.

Here's what somebody will probably pay £285k for in Slough.....with, I assume, £50pcm ground rent/maintenace on top. Makes the freehold properties look like a bargain in comparison.

http://www.rightmove.co.uk/viewdetails-804...22&tr_t=buy

[enworb]

Edit: repost

Edited July 10, 2007 by enworb

[Bear Goggles]

£300k between a couple on London salaries is very affordable. I don't see how these examples can be used to prove properties are overpriced.

There are leasehold flats for more than that in Windsor...where people only earn Windsor wages.

Here's what somebody will probably pay £285k for in Slough.....with, I assume, £50pcm ground rent/maintenace on top. Makes the freehold properties look like a bargain in comparison.

http://www.rightmove.co.uk/viewdetails-804...22&tr_t=buy

I agree, they can't prove it on their own. You'd have to look at what they'd rent for. If you could get a positive yield from those sh!teholes at £300k, I'd be amazed.

I'd also bet that average wages for Totterage & Whetstone are lower than those for Windsor. These are not Prime central London properies you know?

It doesn't really matter, Only a fool would pay that. You can find a nicer home for less, even at today's prices!

[jonewer]

£300k between a couple on London salaries is very affordable. I don't see how these examples can be used to prove properties are overpriced.

WTF is a london salary? There are shedloads of people (like me) who earn under £25, hell there loads that earn less than £20k and work in London.

[OzzMosiz]

Let's see how long these shitholes sit on Rightmove.

[dirge]

I'm with you on the London saleries crack

[@contradevian]

£300k between a couple on London salaries is very affordable. I don't see how these examples can be used to prove properties are overpriced.

With respect you are missing the point. The kind of people who earn £300k jointly aspire to something a lot better than this tat (even in London).

These are the sort of props, people bought with little more than McJob's in the 80/90's.

Edit. Mean't who earn enough to buy a £300k property jointly.

Edited July 10, 2007 by rover2000

[Nick..]

WTF is a london salary? There are shedloads of people (like me) who earn under £25, hell there loads that earn less than £20k and work in London.

Its a complete myth isnt it

I could probably earn an extra 5k working in London, maybe 10k at an absolute push

That won't suddenly bring all the properties into reach

There may be SOME great paying jobs in London, but for most people its no different

[ScaredEitherWay]

You will always find a price that seems high anywhere.

The first two links were SW16 and SW20 - and propertysnake shows 400 reductions and 155 reductions respectively. It would be interesting if propertysnake were to also count how many were on in different areas so we could see how reductions were occurring proportionately over time.

So:

total for sale: X

total reduced: Y

So you could plot that over a period of time to see.

I am also aware that if you watch propertysnake, it should not be forgotten that there was a flood of property onto the marketplace in May, which will mean a lot of those will now be dropping as they've been on the market for 1-2 months now.

Bottom line is always: you can always produce links, "evidence", reports, TV programmes ... but nobody knows what will happen.

I don't want a crash. There is too much pain in a crash and, while a lot of "you" lot might be able to get on the ladder, further down the income pecking order you will find people losing their jobs and still not being able to buy a house ever.

There are millions at the bottom of every pile with no job propects and no home prospects. And in many parts of the country even if you can get onto the housing waiting list, it can be 20+ years before you got housed by a housing association at about £70/week instead of a private rent at 2-3x that.

It is those who work hard and will never get a break that my heart goes out to - whichever way the cookie crumbles.

[FernandoMorientes]

WTF are you on man? Look at them they are shit!

For 2 x ppl earning a London slary of 50k this is affordable but who wants to live in any of these locations? No one cos they are shit.

You must be either a desperado with a biiiiiig personal debt, a BTL merchant, or an EA I reckon your an EA no one sane would recomend this kind of tripe.

£300k between a couple on London salaries is very affordable. I don't see how these examples can be used to prove properties are overpriced.

There are leasehold flats for more than that in Windsor...where people only earn Windsor wages.

Here's what somebody will probably pay £285k for in Slough.....with, I assume, £50pcm ground rent/maintenace on top. Makes the freehold properties look like a bargain in comparison.

http://www.rightmove.co.uk/viewdetails-804...22&tr_t=buy

[DrBob]

£300k between a couple on London salaries is very affordable. I don't see how these examples can be used to prove properties are overpriced.

There are leasehold flats for more than that in Windsor...where people only earn Windsor wages.

Here's what somebody will probably pay £285k for in Slough.....with, I assume, £50pcm ground rent/maintenace on top. Makes the freehold properties look like a bargain in comparison.

http://www.rightmove.co.uk/viewdetails-804...22&tr_t=buy

Top floor "PENTHOUSE"??? Do they mean attic room? I can't imagine the views from that window are very panoramic once the tree has leaves on it.

[hopefulhousewife]

You will always find a price that seems high anywhere.

The first two links were SW16 and SW20 - and propertysnake shows 400 reductions and 155 reductions respectively. It would be interesting if propertysnake were to also count how many were on in different areas so we could see how reductions were occurring proportionately over time.

So:

total for sale: X

total reduced: Y

So you could plot that over a period of time to see.

I am also aware that if you watch propertysnake, it should not be forgotten that there was a flood of property onto the marketplace in May, which will mean a lot of those will now be dropping as they've been on the market for 1-2 months now.

Bottom line is always: you can always produce links, "evidence", reports, TV programmes ... but nobody knows what will happen.

I don't want a crash. There is too much pain in a crash and, while a lot of "you" lot might be able to get on the ladder, further down the income pecking order you will find people losing their jobs and still not being able to buy a house ever.

There are millions at the bottom of every pile with no job propects and no home prospects. And in many parts of the country even if you can get onto the housing waiting list, it can be 20+ years before you got housed by a housing association at about £70/week instead of a private rent at 2-3x that.

It is those who work hard and will never get a break that my heart goes out to - whichever way the cookie crumbles.

Couldn't agree more! We need a sensible price decline over a period of years now, not a crash.

I don't want a crash for many reasons, but mainly because a HPC will almost certainly come together with a recession and recession means job losses. Then some will still be complaining that they can't afford houses - but this time because they've lost their jobs.

My hubby works for Land Rover.... Enough said?

Edited July 10, 2007 by hopefulhousewife

[Ologhai Jones]

Top floor "PENTHOUSE"??? Do they mean attic room? I can't imagine the views from that window are very panoramic once the tree has leaves on it.

... which presumably it will have now... I wonder when the picture was taken?

[bdon]

You will always find a price that seems high anywhere.

The first two links were SW16 and SW20 - and propertysnake shows 400 reductions and 155 reductions respectively. It would be interesting if propertysnake were to also count how many were on in different areas so we could see how reductions were occurring proportionately over time.

So:

total for sale: X

total reduced: Y

So you could plot that over a period of time to see.

I am also aware that if you watch propertysnake, it should not be forgotten that there was a flood of property onto the marketplace in May, which will mean a lot of those will now be dropping as they've been on the market for 1-2 months now.

Bottom line is always: you can always produce links, "evidence", reports, TV programmes ... but nobody knows what will happen.

I don't want a crash. There is too much pain in a crash and, while a lot of "you" lot might be able to get on the ladder, further down the income pecking order you will find people losing their jobs and still not being able to buy a house ever.

There are millions at the bottom of every pile with no job propects and no home prospects. And in many parts of the country even if you can get onto the housing waiting list, it can be 20+ years before you got housed by a housing association at about £70/week instead of a private rent at 2-3x that.

It is those who work hard and will never get a break that my heart goes out to - whichever way the cookie crumbles.

I think a lot of people on this forum agree with you. I recall growing up in social housing - it wasn't any shame, it was what most of my social class did (I did have one friend whose parents had their own house - but there was never any division). Now it seems totally distorted - the idea of NOT having one's own house seems odd to the majority, but when I was growing up it wasn't even a consideration. Thatcher's "right to buy" was a step to far, and created this instant one armed bandit of House Prices. Since then everyone feels the need to buy and have it double within six months. Sadly the recent government have perpetuated this (rather than act as a true counterbalance) and we have the crisis we now have.

It's becoming less about house prices per se and more about how it's ripping our once noble country apart.

[bryanh]

£300k between a couple on London salaries is very affordable. I don't see how these examples can be used to prove properties are overpriced.

There are leasehold flats for more than that in Windsor...where people only earn Windsor wages.

Here's what somebody will probably pay £285k for in Slough.....with, I assume, £50pcm ground rent/maintenace on top. Makes the freehold properties look like a bargain in comparison.

http://www.rightmove.co.uk/viewdetails-804...22&tr_t=buy

This is comparing one mega overpriced sh!t hole with another mega overpriced sh!t hole, no bargains there, just overpriced sh!t holes, even more evidence that when the bubble pops its gonna pop BIG TIME like a mushroom cloud over UK PLC