London Has Peaked

wotsthat

Bubble_and_Squeak wrote: »

have i ever said there is a crash around the corner?

Plenty of talk about bubbles - don't they burst?

Or has it been postponed by the net positive effect of EU QE vs reduced petrodollars, boomers pension changes and cheaper houses in Cyprus.

Or do you just not have a clue and, as I knew from your first post, are just a house hunter who created a narrative around wishing prices were lower.

Great thread though.

padington

Bubble_and_Squeak wrote: »

i will move EAST for work purposes in the next few months. if i don't find a suitable place to buy then i'll continue to rent.

Why are you prioritising buying over renting if you think prices are going to fall because London as you say 'has peaked' ?

Actions really do speak louder than words.

danothy

wotsthat wrote: »

Plenty of talk about bubbles - don't they burst?

Bubble_and_Squeak wrote: »

the london property price bubble ... classic bubble territory ... i predict a sharp correction henceforth...

No, 'cause a "sharp correction" (A reverse movement, usually negative, of at least 10%) isn't a synonym for "crash" (A sudden and significant decline in the value of a market). Stop telling lies, you liar! I bet you have a liar loan, too.

wotsthat wrote: »

Or do you just not have a clue

Where do you get off besmirching the oracle?

System

hpifever wrote: »

Hpi is doing a lot of harm and no good. I wish certain people on Mse realise that.

Why, what difference would it make?

MARTYM8`

hpifever wrote: »

Hpi is doing a lot of harm and no good. I wish certain people on Mse realise that.

You do wonder – while they are counting their paper house price gains – if they have kids, grandkids, nephews or nieces.

All house price inflation is resulting in is the older/middle aged effectively robbing their own kids and grandkids who cannot afford to buy – or alternatively require them to gift their savings/earnings for some ridiculous deposit so they can.

Yes – they may inherit one day but presumably they might like their own home before they hit their late 60s?

I know the point of this site is to obsess about money – but when that money making basically involves leeching off the next generation its not exactly adding value.

princeofpounds

I know the point of this site is to obsess about money – but when that money making basically involves leeching off the next generation its not exactly adding value.

House prices.

Government debt.

Student debt.

Prescription charges.

Dental charges.

You could say it's been pretty systematic really...

MFW_ASAP

MARTYM8` wrote: »

You do wonder – while they are counting their paper house price gains – if they have kids, grandkids, nephews or nieces.

All house price inflation is resulting in is the older/middle aged effectively robbing their own kids and grandkids who cannot afford to buy – or alternatively require them to gift their savings/earnings for some ridiculous deposit so they can.

Yes – they may inherit one day but presumably they might like their own home before they hit their late 60s?

I know the point of this site is to obsess about money – but when that money making basically involves leeching off the next generation its not exactly adding value.

A lot of parents will help their kids buy their first home well before the inheritance becomes due. I'm currently paying for one of my kids to go to Uni and I'm contributing to the other one's pension (she is 12 and has £5k in there at the moment).

MARTYM8`

MFW_ASAP wrote: »

A lot of parents will help their kids buy their first home well before the inheritance becomes due. I'm currently paying for one of my kids to go to Uni and I'm contributing to the other one's pension (she is 12 and has £5k in there at the moment).

All fine and noble - but why has it come to pass that parents need to be funding the house purchases of their grown up kids? Shouldn't an average salary be enough to buy an average home - not a mansion just a bog standard house - rather than ten times average salaries being needed.

And what happens if Mummy and Daddy cannot afford to subsidise their kids housing? It just reinforces inequality and a lack of social mobility - if you are born poor now you are highly likely to end up poor and vice versa.

tkane

MARTYM8` wrote: »

All fine and noble - but why has it come to pass that parents need to be funding the house purchases of their grown up kids? Shouldn't an average salary be enough to buy an average home - not a mansion just a bog standard house - rather than ten times average salaries being needed.

And what happens if Mummy and Daddy cannot afford to subsidise their kids housing? It just reinforces inequality and a lack of social mobility - if you are born poor now you are highly likely to end up poor and vice versa.

To be fair in most places outside the Southeast it IS possible to purchase an average home on an average salary without parental support.

As for London and the Southeast - well London happens to be one of the most successful and attractive cities in the WORLD and it is therefore no surprise that both the cost of living and the cost of housing is expensive.

You can't have it both ways, if you want London to continue to be successful and attract investment and talented people then you have to keep it open to foreigners.

No one should be surprised that property prices are high in what is probably the most attractive city in the world

ukcarper

MARTYM8` wrote: »

You do wonder – while they are counting their paper house price gains – if they have kids, grandkids, nephews or nieces.

All house price inflation is resulting in is the older/middle aged effectively robbing their own kids and grandkids who cannot afford to buy – or alternatively require them to gift their savings/earnings for some ridiculous deposit so they can.

Yes – they may inherit one day but presumably they might like their own home before they hit their late 60s?

I know the point of this site is to obsess about money – but when that money making basically involves leeching off the next generation its not exactly adding value.

I'm not sure how older/middle age people are robbing anyone as in the main all they are doing is living in their homes.