Monday, July 30, 2007

Comical Ali was an amateur

Buy To Let: Landlords are now making tenants play the lottery of sealed bids

Like the Americans committing suicide in their tanks headed for Bagdad, the Independent published two stories last week that are complete fiction. I tell you, i live in central London and property (both sales and rental) is totally stale on the shelves. More fictional stories in the comments

Posted by confused76 @ 05:13 PM (769 views)
Please complete the required fields.



10 thoughts on “Comical Ali was an amateur

  • This myopic cut and paste jouranlism is just a joke. I am sure that this may possibly be the case in Chelski and Belarabia, but in the parts of Central London
    where REAL people live, the recent attitude to push up rent has pretty much fallen flat on it’s face. A friend saw a 3 bed place in Clapham with an
    asking price at £450 / week and laughed at the estate agent on the phone. She then snatched his hand off for £360, as clearly
    no one else was interersted at £450. In fact she more or less admitted the landlord was dreaming.

    Reply
    Please complete the required fields.



  • dohousescrashinthewoods says:

    “it only works on immaculate properties in good locations.”

    Hmm, sounds like somebody is fanning the spark in the ashes.
    There is only vague reference to the “rest of the world” and a focus on super-prime examples.

    Reply
    Please complete the required fields.



  • WOW she really is trying really really hard!

    I said this would happen. She’s fighting tooth and nail to prevent her assets becoming liabilities.

    Reply
    Please complete the required fields.



  • I said that they would get desperate but it appears we are more ahead than that now. The powers that were are starting to give up. Even the people that still fall for their tricks and honestly believe that a flat in murder mile (Hackney) is worth 160k don’t have the money to fall for the trick anyway. Like I said before, it goes up in value if some other sucker is willing to pay more for it. Sorry people, there are no more suckers left.

    Reply
    Please complete the required fields.



  • stillthinking says:

    Occurs to me that the top end will fall -more- dramatically than the others in the future. I tried to look around for 1990 data but couldn’t immediately see anything relevant. All the people who have been selling, and there must have been them for the prices to inflate, have presumably done something with the money. I would guess that a lot of them traded up. The trading up concentrates a lot of the wealth of the many lower tiers into a concentration at the fewer property higher tiers.
    The reason why the crash is looking obvious now is because there are no buyers, or more accurately there are no buyers at the lower tiers. And hence no buyers on the tier above and then the tier above that.
    So in fact this is a wave and will eventually hit the higher tiers but given the valuations of these are an amplification of those below, when the less desirable places that people want to sell won’t make it, the downwards ability to buy will the drop the highest priced ones much more than any other tier. However, for reasons described this will be delayed. If 6 months is a reasonable sell window, and there are 6 tiers in UK housing, then the high(priced houses) price collapse will occur in 3 years and (aside from that being just made up guess work) will persist in the downtrend for -much longer- (seems like a key point) while having a distorting effect on average land registry prices. So for me, and presumably others looking for just a lower tier place anyway, the time to buy, which is my main thinking now, would be ……. Well. I don’t know. Seems to suggest lower tiers will recover before the higher ones also. ????? And that while low tier houses affect high priced houses the opposite is not true. If anyone knows a good way to know the bottom say now and I will never ever ever mention it again. We are still years away after all.

    Reply
    Please complete the required fields.



  • planning4acrash says:

    But, Kensington and Chelsea do have a crazy market! I don’t think this writer attempted to be representative of all places, I think she was very specific about the focus of the article and was merely reporting something that is happening in the frothiest part of the market with probably one of the higest concentrations of millionnaires on the planet.

    Reply
    Please complete the required fields.



  • I live in Kensington and there is a glut of BTL property – the rental market is flooded right now! In fact all across West London there are countless new build developments looking for tenants, who are negotiating prices down rather than them being in a position to ratchet prices up.

    The lady who completed this masterwork makes no indication that she’s only talking about the richest boroughs either.

    The article is therefore a work of complete fiction.

    Reply
    Please complete the required fields.



  • Pure dream land

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>