London's property boom over?

shortchanged_2

RenovationMan wrote: »

Shortchanged; the man who argued that a repayment mortgage was better than an interest only mortgage during financial crisis because a repayment mortgage can be downgraded to an interest only mortgage, whereas an interest only mortgage is already an interest only mortgage and so has no where to go.

It's more rewarding to discuss finances with a gibbon, at least the gibbon could amuse with its capering.

Are you stalking me?

shortchanged_2

RenovationMan wrote: »

Shortchanged; the man who argued that a repayment mortgage was better than an interest only mortgage during financial crisis because a repayment mortgage can be downgraded to an interest only mortgage, whereas an interest only mortgage is already an interest only mortgage and so has no where to go.

Well I would have thought this was pretty obvious if someone had stretched themselves to get that IO mortgage in the first place, like we know never happened according to the property bulls.

HAMISH_MCTAVISH

shortchanged wrote: »

I know this one........

The Americans and the Irish finally saw sense and realised that wasting loads of their income (massive mortgage payments) was a stupid thing to do and they could spend their money more wisely in other places in the economy.

Unfortunately the UK now has a very backward view on housing and governments wrongly try everything to sustain house prices which ultimately will be to the detriment of the UK economy and will continue to stifle any future growth.

So in other words, you can't provide a credible explanation and have resorted to the same old nonsense.

Thought as much.

Out of curiosity, why are you here?

What's the point of you posting here?

You clearly have no desire to discuss the facts and learn about the housing market, economics or even debate honestly and with an open mind what is likely to happen next.

You, along with a few others (Brit, Graham, CBW, etc), just seem intent on trying to blow anything negative out of proportion and being extremely negative. Which only makes you look foolish when your doom laden prophecies fail to materialise.

So why bother?

What's the point?

shortchanged_2

HAMISH_MCTAVISH wrote: »

So in other words, you can't provide a credible explanation and have resorted to the same old nonsense.

Thought as much.

Out of curiosity, why are you here?

What's the point of you posting here?

You clearly have no desire to discuss the facts and learn about the housing market, economics or even debate honestly and with an open mind what is likely to happen next.

You, along with a few others (Brit, Graham, CBW, etc), just seem intent on trying to blow anything negative out of proportion and being extremely negative. Which only makes you look foolish when your doom laden prophecies fail to materialise.

So why bother?

What's the point?

It's called balancing an argument. Do you think all you property rampers on here should have a monopoly, oligopoly or cartel whichever you like to call it (things that don't exist according to you unless it is to do with banks putting SVR rates up!) should have their opinions unchallenged?

Tippytoes

Jimmy_31 wrote: »

Not enough jobs.

Enough jobs, too many imports taking them.

FTBFun

shortchanged wrote: »

I know this one........

The Americans and the Irish finally saw sense and realised that wasting loads of their income (massive mortgage payments) was a stupid thing to do and they could spend their money more wisely in other places in the economy.

Unfortunately the UK now has a very backward view on housing and governments wrongly try everything to sustain house prices which ultimately will be to the detriment of the UK economy and will continue to stifle any future growth.

Is this a serious answer? I'm just curious as it just seems, well, silly that several hundred million people just changed their minds.

HAMISH_MCTAVISH

wotsthat wrote: »

Those figures are quite compelling. .

They are indeed.

I've been watching this thread hoping someone of a more bearish view might attempt to answer Hamish's question. I'll keep waiting.

I suspect you'll be waiting for a long time.

I've yet to see a credible response....

And I've been asking the question for several years now.

the_flying_pig

HAMISH_MCTAVISH wrote: »

They are indeed.



I suspect you'll be waiting for a long time.

I've yet to see a credible response....

And I've been asking the question for several years now.

I agree with the last part of your post only.

Two or three times I personally have given very considered responses to this claim of yours, basically saying that differences in housebuilding probably account for some but by no means all or necessarily even most of the difference in prices. If I say so myself these were good quality posts with many unanswerable points.

But I don't have your stamina or appetite for mindlessly rehasing the same arguments & revisiting the same old grounds, no-one does.

HAMISH_MCTAVISH

the_flying_pig wrote: »

Two or three times I personally have given very considered responses to this claim of yours, basically saying that differences in housebuilding probably account for some but by no means all or necessarily even most of the difference in prices.

Actually, I'll agree that you did give it a good try. And I think we can all accept that other factors will play some, probably very small, part.

I'll also say that when I first started posting it, there was one country (Spain) that did seem to be far less badly affected than it should, given the vast numbers of empty properties. However price falls there have since accelerated and it now fits with the other countries in the trend quite nicely.

Also worth noting that there is one country with a lower empty housing rate than the UK. Where prices (although dipping slightly now) remain firmly higher as a national average than they were in 2007. Which is of course Australia. And interestingly enough on a national basis they also have a similar population growth to current housebuilding deficit as the UK. So again that fits with the wider trend.

chucknorris

wotsthat wrote: »

I'd advise anyone who is just wishing prices lower (for the greater good of course) to take a trip to Spain. In the North I looked at a two bed apartment with stunning sea views, in a nice area and with garage parking. Not a single apartment had sold at around £62,000 - they were asking around £130,000 two years ago.

Whereabouts was it (do you have a link), we plan to spend the winters in Spain in a few years when we retire. But Northern Spain isn't quite mild/warm enough for us between Dec and Feb. Our route to the South however would be via the ferry (because we have a dog) to Santander.