'We've reached a tipping point' Signs of house price weakness

padington

danothy wrote: »

Make of this what you will:

Possible crossrail 2 for Wood Green just announced too.

wotsthat

Crashy_Time wrote: »

Everything Tickety Boo down the woods then is it, in your mind map of the world?

2015 is nearly over. Another year of renting in the cash economy with a room rented from an 'off-grid' landlord so you can save up to do the same in retirement. It seems so futile. That's the wood you can't see.

padington

Welcome to a very possible future ...

http://www.marketoracle.co.uk/Article53090.html

mayonnaise

Crashy_Time wrote: »

To spare you chaps grief I just calculated my rental costs as 400 p.m for 17 years, there were times when I paid a lot less than 400 p.m, and a short spell where I paid 450 p.m, so I might go and do an actual calculation so I can rub it right in how cheap renting has been.

And since this post you've spent another 6k in rent, and you still own 0% of nothing. Are you sure your financial masterplan is still on track?

mwpt

Mallotum_X wrote: »

The point is lots of people are saying London is unaffordable to the young but yet there are a plethora of towns close by that do allow graduates to buy and have a reasonable commute. With a better budget there are decent houses to be had for under £250k.

Previously, these same people would have been able to buy an actual nice looking flat in zone 2-4.

Current generation is worse off with regard housing. No need to skirt around the issue. It would be nicer if this wasn't the case, but it's hard to see how to make it so. My solution would be to build up, up, up, in cycling distance areas in East London.

ukcarper

mwpt wrote: »

Previously, these same people would have been able to buy an actual nice looking flat in zone 2-4.

Current generation is worse off with regard housing. No need to skirt around the issue. It would be nicer if this wasn't the case, but it's hard to see how to make it so. My solution would be to build up, up, up, in cycling distance areas in East London.

That might have been the case 20 years ago but it has not always been the case you couldn't when I bought in the early 70s. OK maybe I could have bought in a couple of boroughs but those have improved beyond recognition and I was much happier to commute than live in one of those boroughs.

Crashy_Time

mayonnaise wrote: »

And since this post you've spent another 6k in rent, and you still own 0% of nothing. Are you sure your financial masterplan is still on track?

When you look at where tax and transaction costs for house buyers/sellers, BTL`ers and "accidentals" are heading my rent really is just pocket change.

wotsthat

Crashy_Time wrote: »

When you look at where tax and transaction costs for house buyers/sellers, BTL`ers and "accidentals" are heading my rent really is just pocket change.

This is where you're going wrong. You're comparing your rent's worth against something which you'll never buy.

I'd compare it against my total outgoings or total savings. I'd suggest a years worth of rent/ mortgage was a significant amount of money for you on both counts as it would be for most people.

Crashy_Time

wotsthat wrote: »

This is where you're going wrong. You're comparing your rent's worth against something which you'll never buy.

I'd compare it against my total outgoings or total savings. I'd suggest a years worth of rent/ mortgage was a significant amount of money for you on both counts as it would be for most people.

George is just getting started on 2nd home owners and BTL`ers IMO, and remember my rent hasn`t increased in years, so don`t get ahead of yourself just yet.

wotsthat

Crashy_Time wrote: »

George is just getting started on 2nd home owners and BTL`ers IMO, and remember my rent hasn`t increased in years, so don`t get ahead of yourself just yet.

I'm not ahead of myself but 17 years ahead of you.

The best you can do is turn a losing hand to a less losing hand and I doubt that's going to to happen but best of luck.

George can bring it on. I just wish he'd get on top of the landlords who evade tax and their enabling tenants.