London's property boom over?

RenovationMan

DervProf wrote: »

Awwwww! Isn't it a shame that you don't get that cuddle you so desperately need. And that when someone doesn't give you that cuddle, or heaven forbid suggests that they think interest rates should, or might rise, you nearly "blow a fuse".

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Jimmy_31

The fear is strong in this thread.

wotsthat

There have been a couple of interesting points but I find it slightly odd that supply not keeping up with demand (present and future) is, at best, in the bearish argument only considered a minor factor.

As for the argument that you can walk away from your mortgage in the US as a 'massive' difference to the UK is, frankly, laughable. I read this morning, don't know if it's true, that 20% of of US mortgage holders are in NE - they must be in the States where you can't just walk away and get a mortgage on a cheaper house instead.

The place I looked at in Spain was in Palmeira town centre in Galicia in the North-West. Gets my vote for a great place to spend time - nice food, wine, people, beaches, scenery, not touristy etc. Weather can get a little British in the winter though.

DervProf

RenovationMan wrote: »

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

In your dreams.

You clearly need a cuddle, and for me to be jealous. Well, it's Friday afternoon, and I feel a bit sorry for you, so here you are.....

"I am so jealous of RM, he's says he's got a bigger house than me, and he reckons he earns more than me". :kisses3:

Better now ?



(Don't tell him, but I don't care one iota about his financial health or lack of it. I simply suspect that he's a bit of a "willy waver", and he needs people to be jealous of him. His "willy waving" has been clear for all to see, and when confronted about this, he uses the word "jealousy". Either that, or he does get a bit aggressive with his language, or resorts to name calling. It's kind of entertaining and sad to see, all at the same time.).

ess0two

Jimmy_31 wrote: »

The fear is strong in this thread.

Knocked off early today?

shortchanged_2

wotsthat wrote: »

There have been a couple of interesting points but I find it slightly odd that supply not keeping up with demand (present and future) is, at best, in the bearish argument only considered a minor factor.

As for the argument that you can walk away from your mortgage in the US as a 'massive' difference to the UK is, frankly, laughable. I read this morning, don't know if it's true, that 20% of of US mortgage holders are in NE - they must be in the States where you can't just walk away and get a mortgage on a cheaper house instead.

The place I looked at in Spain was in Palmeira town centre in Galicia in the North-West. Gets my vote for a great place to spend time - nice food, wine, people, beaches, scenery, not touristy etc. Weather can get a little British in the winter though.

So did you find out what the unemployment rate currently is in Spain wotsthat?

FTBFun

22.9% http://www.independent.co.uk/news/world/europe/spains-unemployment-rate-hits-229-7469750.html

4.7 million people

shortchanged_2

FTBFun wrote: »

22.9% http://www.independent.co.uk/news/world/europe/spains-unemployment-rate-hits-229-7469750.html

4.7 million people

And rising apparantly.

Nearly a quarter of the workforce unemployed. No wonder the housing market is tanking there.

Good opportunity for some of the property bulls on here to invest in Spanish property. :think:

wotsthat

shortchanged wrote: »

So did you find out what the unemployment rate currently is in Spain wotsthat?

I think it's very high - what's the point you want to make?

Spain is different to the UK not because of a massive oversupply but because of higher unemployment?

Well maybe if house prices dropped here by, let's say 50%, it would be better because we don't have massive unemployment. Those cheaper houses would be no more accessible than now apart from to a few gloaters sat on loads of savings miserably waiting for prices to drop. In the news today we've heard that UK banks still need to build more capital - what's a 50% drop in house prices going to do to their willingness to lend?

wotsthat

shortchanged wrote: »

Nearly a quarter of the workforce unemployed. No wonder the housing market is tanking there.

Thought so - any reason but a massive oversupply in Spain.

Big falls in USA - you can hand your keys back.

UK - SMI, etc. etc.

Nothing to do with supply and demand in any country whatsoever.