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London after the Olympics?

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Comments

  • hillcats
    hillcats Posts: 899 Forumite
    Part of the Furniture 500 Posts Photogenic
    London after Olympics / London before Olympics ...
    I have no interest whatsoever - yawn !
    Just one big waste of money ....
    ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
    NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
    BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 2027
  • DervProf
    DervProf Posts: 4,035 Forumite
    hillcats wrote: »
    London after Olympics / London before Olympics ...
    I have no interest whatsoever - yawn !
    Just one big waste of money ....

    Either you have no access to the BBC, or you have very strong will power.

    You WILL enjoy the Olympics, and London is fantastic ! - That's all I`ve been hearing for days/weeks on end.
    30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.
  • Treadstone2.0
    Treadstone2.0 Posts: 32 Forumite
    FTBFun wrote: »
    Most people who've come here for the Olympics are temporary vistiors - why on Earth, other than being quite mental, do you think this will means hordes of people leaving the city?


    Most people? What have some actually moved to London to live because of the Olympics? Very few I would guess.

    So you have answered your own question.

    All those extra flats they built to accomadte everyone involved will be empty when they all go home.

    Lots more supply and a lot less demand = lower prices.
    House Prices 2007/08 £200K, Silver £5oz
    Ratio 40,000 oz to 1 house.
    2012 Fallen to £160K, Silver risen to £20 per ounce. So house/silver ratio fallen to 8000.
    Prediction for the end of the decade, will keep falling at current rate until 1000 oz or less valued same as average house.
  • Out,_Vile_Jelly
    Out,_Vile_Jelly Posts: 4,842 Forumite
    Part of the Furniture 1,000 Posts
    Treadstone2.0 wrote: »

    All those extra flats they built to accomadte everyone involved will be empty when they all go home.

    Lots more supply and a lot less demand = lower prices.

    I think you're confusing the Olympic Village with normal residences.
    They are an EYESORES!!!!
  • chewmylegoff
    chewmylegoff Posts: 11,469 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Treadstone2.0 wrote: »
    Most people? What have some actually moved to London to live because of the Olympics? Very few I would guess.

    So you have answered your own question.

    All those extra flats they built to accomadte everyone involved will be empty when they all go home.

    the conversion of the athletes village to housing is predicted to result in just under 2,800 new homes in london. they will not become available until well into 2013, because they need to be converted (they do not currently have kitchens). only a small proportion of them will actually be sold.

    there are approximately 3 million households in london. so you're looking at an increase in supply of 3,000/3,000,000 x 100 = 0.1%

    Lots more supply

    i think this is better characterised as a small increase in supply (confined to one particular area).
    and a lot less demand = lower prices.

    a lot less demand? where is the reduction in demand coming from? you seem to be contradicting the first part of your post here.

    looks to me like: 0.1% increase in supply (max, in reality lower as not all being released onto market) vs. no change in demand*.

    so the effect will be neglible.

    * = except of course the population of london is rising and therefore there is an increase in demand; however, what i mean by no change in demand is that there won't be a load more people who suddenly want to live in london that didn't want to live in london before just because there are some new flats in stratford.
  • ChiefGrasscutter
    ChiefGrasscutter Posts: 2,112 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    DervProf wrote: »
    Either you have no access to the BBC, or you have very strong will power.

    You WILL enjoy the Olympics, and London is fantastic ! - That's all I`ve been hearing for days/weeks on end.


    Nope
    I don't give a toss and I'm not interested.
    Each time I switch on the radio news its nothing but the f'ing Olympics.
  • DervProf
    DervProf Posts: 4,035 Forumite
    ChiefGrasscutter wrote: »
    Nope
    I don't give a toss and I'm not interested.
    Each time I switch on the radio news its nothing but the f'ing Olympics.

    Shhhh, you could get arrested.
    30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.
  • Treadstone2.0
    Treadstone2.0 Posts: 32 Forumite
    Out,_Vile_Jelly wrote: »
    I think you're confusing the Olympic Village with normal residences.

    Olympic village and all the other property like it that was part of the £11billion costs will be normal residences added to the supply of over 1 million empty homes in the UK.

    There are less than 1 million homeless people in the UK, they could have one property each and all the extra Olypic property supply will still be empty when everyone goes home after the games.
    House Prices 2007/08 £200K, Silver £5oz
    Ratio 40,000 oz to 1 house.
    2012 Fallen to £160K, Silver risen to £20 per ounce. So house/silver ratio fallen to 8000.
    Prediction for the end of the decade, will keep falling at current rate until 1000 oz or less valued same as average house.
  • FTBFun
    FTBFun Posts: 4,273 Forumite
    Treadstone2.0 wrote: »
    Olympic village and all the other property like it that was part of the £11billion costs will be normal residences added to the supply of over 1 million empty homes in the UK.

    They're turning the Copper Box into flats are they?

    What a load of rubbish.
  • iltisman
    iltisman Posts: 2,589 Forumite
    The !!!!!! will be eyeing up the place for metal as soon as the olympics have gone.
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