I guess so
I guess so
If you're taking about property crash then you're probably talking about just London. Like always, London is in its own little property bubble, it may as well be a different state. The price of property there clearly has no bearing on the rest of us. London prices sky rocketed when the rest of us just relatively gently rose. Therefore, I'm not worried about any so called property crash. Flats in London might drop £100k+, the percentages involved are just not a factor any where else.
I remember being utterly convinced in 2006 and 2007 that the economy was going to crash, despite everyone calling me an idiot, and pull house prices down with it. I was spot on with the economy but house prices did nothing more that brush it off and keep on rising.
I hope they come down I really do - I want to move house, build my own place, but land etc is way over priced.
Time to move to Canada.
There are some solutions though, if governments are brave enough and willing to **** off a lot of existing homeowners of higher end homes, as evidenced by Vancouver this year. Last august the city instituted a foreign buyers tax and house prices have since dropped 18.9% year on year last month - http://www.huffingtonpost.ca/2017/02/15/vancouver-average-house-price-january-2017_n_14775268.html
maybe you were an idiot*
it isn't a very specific prediction and hasn't had an argument attached - if you'd seen issues in credit markets and predicted the issues with CDOs etc.. then that would be impressive and you'd likely be a multi millionaire. Average man in the street though making claims of 'the housing market is bound to crash now it's 'too high'' etc.. have been seen/heard in every pub since the 90s, like the stopped clock at some point some of them will be right.
(not trying to be offensive or insult you btw.. just playing devlis advocate here)
Unfortunately therein lies the problem, it really should have been done way before things became that ridiculous.All okay unless you're the poor non foreign sod that bought at the peak.
Well I would argue London is a barometer for the economy. If things start to cool off/decline in London then it tends to follow elsewhere in the country as previous house price bubbles have shown. But yes London has further to fall due to rampant speculation.
Its shocking innit.
500k for a flat in zone 4...
If you're taking about property crash then you're probably talking about just London. Like always, London is in its own little property bubble, it may as well be a different state. The price of property there clearly has no bearing on the rest of us. London prices sky rocketed when the rest of us just relatively gently rose. Therefore, I'm not worried about any so called property crash. Flats in London might drop £100k+, the percentages involved are just not a factor any where else.
I find that quite hard to believe. A crash in London isn't quite the same as a crash in the rest of the country.If London crashes, it will be a matter of weeks before the rest of the market does and as such our next recession..
I find that quite hard to believe. A crash in London isn't quite the same as a crash in the rest of the country.
I find that quite hard to believe. A crash in London isn't quite the same as a crash in the rest of the country.
I find that quite hard to believe. A crash in London isn't quite the same as a crash in the rest of the country.
One problem for us in the south east is that people have sold property in London to BTL and investment buyers at massively inflated costs, moved out to the 'commuter belt' and it's massively pushed up prices here as well due to the amount of money the buyers have.
I nearly bought a 2 bedroom end terraced house in late 2012 in Chelmsford for 200k. That same house is now worth over 300k!
50% increase in 4 ½ years. That's not right.
I believe London and UK property prices has hit its peak. Im putting my money where my mouth is and pulling out of buying and will not be buying until I feel there is more stability in the market.
Lets see if I'm right. If I'm wrong and the prices keep going up I'm a little shafted.