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Buying properties for investment part 2
Comments
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van_persie wrote:NastyMatt,
A .25% rise is just the start - cheap credit is over and we're heading for further rises.
And it won't take much to burst this bubble. 5% would be catastrophe for many, particularly if they can't just borrow on 0% credit cards anymore, etc.
I am fairly sure you have ticked the "burst" box on the form
But we could be just be going round in circles at this present rate for years until something happens.. so.. how about you put a date on when you think the bubble will burst.
That way we can catagorically say if you are right or wrong.Lady Astor: "Winston, if I were your wife I'd put poison in your coffee."
Sir Winston Churchill: "Nancy, if I were your husband I'd drink it."0 -
Matt - that's sneaky, getting me to nail on a date!
All I know is that world rates are headed upwards and unless we come into line, our currency will suffer. A weak pound doesn't bode well for exports and we'll import inflation by default. Interest rate rises will protect the pound and curb inflation. That much is fact.
As for the bubble bursting, the analogy is somewhat inappropriate; the property market, as I'm sure you're aware, is not subject to the same sharp drops & rises as stocks, essentially because of liquidity. It's akin to a large super-tanker turning slowly, having gathered momentum for years. And it's going to take years to come back to where it started - and beyond! Previous corrections have always overshot the mean line for housing inflation before troughing, then returning to pass it.
So, I'll take your bait and say that I personally expect rate rises to bite and prices to head south in an undisputed fashion next year, around Summer time. In the meantime, regional fluctuations, the usual contraditory spin from Halifax et al and loads of anecdotes to confuse us all further...
How's that?!0 -
You mean you'd buy it cheep....sashacat wrote:I'd buy it,( at a knock down price ) and rent it out !
I'll get my coat.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Excellent news Van Persie.. I have it marked in the diary and will back here to post if you are (right or) wrong
I personally think there will be a rise again for the next 6-12 months and then a slow down for several years - bringing house prices closer to the 7 year housing market cycle prices.Lady Astor: "Winston, if I were your wife I'd put poison in your coffee."
Sir Winston Churchill: "Nancy, if I were your husband I'd drink it."0 -
Van persie - I agree 100% with everthing you've said, you just put down in words better than I could !!0
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As i'm new to this forum, what is everyone consensus on the Housing Market?
Is there a survey anywhere?0 -
Lots of cracking graphs on the housing market:
http://www.in2p.co.uk/nr/stats/indices/;jsessionid=C3225C26C35A594E1E9D88048935893F
Some scary climbs since ~'970
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