London Has Peaked

Crashy_Time

Bubble_and_Squeak wrote: »

i think prime london is depreciating much faster than the real value of money deposited in a swiss bank account

http://www.bloomberg.com/news/2014-12-17/russians-quit-london-luxury-homes-as-only-super-rich-stay.html

Bubble_and_Squeak

Crashy_Time wrote: »

http://www.bloomberg.com/news/2014-12-17/russians-quit-london-luxury-homes-as-only-super-rich-stay.html

add to that chinese capital controls, poorer oil rich arabs and stamp duty on top of several months of price falls i think that we can safely say that prime london is no longer in the hpi club

Crashy_Time

Bubble_and_Squeak wrote: »

add to that chinese capital controls, poorer oil rich arabs and stamp duty on top of several months of price falls i think that we can safely say that prime london is no longer in the hpi club

The sooner the rest of the UK`s housing stock joins it the better IMO.

HAMISH_MCTAVISH

Crashy_Time wrote: »

The sooner the rest of the UK`s housing stock joins it the better IMO.

You've had that opinion for 17 years now....;)

Bubble_and_Squeak

yay!
hamish is back!

Crashy_Time

HAMISH_MCTAVISH wrote: »

You've had that opinion for 17 years now....;)

No Hamish, I started forming that opinion when I joined HPC in 2007 (about the time you were making dozens of posts a day trying to justify your lending decisions) and the collapse of 2008 firmed up the belief that there was something badly up. You seem to be another one on here that can`t count, but is happy to make economic predictions


Cue some nonsense about counting "dead money" :T

Crashy_Time

Bubble_and_Squeak wrote: »

yay!
hamish is back!

Will he still post when Aberdeen goes round the U - bend though?
:rotfl:

lisyloo

and the collapse of 2008 firmed up the belief that there was something badly up

I agree with you that's there's something badly up.
I don't imagine anyone could say our personal or national debt levels are in any way healthy.
However in 2008 I took a mortgage rate of 0.99% and saved about £8K per year (for many years) on my mortgage and now own a home.
I don't know how many years I can expect to live in it rent free because none of us know how long we've got, but possibly up to another 45 years.
The value in owning a home doesn't come purely from hpi but comes from the savings on rent over a long period especially once you own it and that helps especially in retirement.

So whilst I don't dis your views about the economy like a few others do, it really doesn't look like you've made the best of the situation.

Having a house to live in for the rest of your life rent free cannot be dismissed as nonsense. It's a massive financial boost especially in retirement.

If you've done something better with your money than a geared, tax free investment plus hpi then I'm sure we're all ears, but for most unsophisticated investors that's really not very likely at all.

Bubble_and_Squeak

lisyloo wrote: »

I agree with you that's there's something badly up.
I don't imagine anyone could say our personal or national debt levels are in any way healthy.
However in 2008 I took a mortgage rate of 0.99% and saved about £8K per year (for many years) on my mortgage and now own a home.
I don't know how many years I can expect to live in it rent free because none of us know how long we've got, but possibly up to another 45 years.
The value in owning a home doesn't come purely from hpi but comes from the savings on rent over a long period especially once you own it and that helps especially in retirement.

So whilst I don't dis your views about the economy like a few others do, it really doesn't look like you've made the best of the situation.

Having a house to live in for the rest of your life rent free cannot be dismissed as nonsense. It's a massive financial boost especially in retirement.

If you've done something better with your money than a geared, tax free investment plus hpi then I'm sure we're all ears, but for most unsophisticated investors that's really not very likely at all.

the availability of cheap credit is the main reason i decided to buy late last year even though houses were overvalued

padington

Friend near me in wooders says he's got three offers for his house now, two both for the asking price. It's practically a bunfight.