London Has Peaked

lisyloo

I feel a bit sorry for bubbles now

Why sympathy?
He made a deliberate call. If it's wrong then he has to accept responsibility.

Compassion - yes.
Sympathy - no.

padington

wotsthat wrote: »

If you truly thought there was going to be any sort of decent correction you wouldn't be looking to buy.

Ain't that the truth.

Bubble_and_Squeak

london still falling according to acadata
of course, no one here cares what prices do
despite the fact that they start threads with titles along the lines of "how much my house has made this month" every time the halifax index shows a positive

lisyloo

of course, no one here cares what prices do

I'm planning on living in my house for the next 35 years so from that point of view I don't really care that much.

However our entire economy seems heavily dependent on the housing market, so I'm more interested from an economic point of view rather than my own personal house price.

Zxcv_Bnm

tom9980 wrote: »

The house I bought in 2009 and is now rented has gone up 22% looking at sold prices. It does not matter at all it won't be sold, the mortgage is paid off and the rental income is good it will be kept for 40 more years unless circumstances dictate a sale.

The house we bought in May 2014 might have gone up too judging by the asking price of the house down the road which is 8% higher than last years equivalent. None of this matters to me in reality, I would quite like a few years stagnation then 25% crash actually because that would suit my longer term goals perfectly.

I feel a bit sorry for bubbles now and can only advise him to scratch together a deposit and buy the best home to live in he can find and would be happy in. Predicting markets is no fun just make a decision based on the facts of the time and roll with it because us plebs have no choice.

I don't feel sorry for crashers, they are speculators who went short and called it wrong.

The chances of a crasher calling it right now or any time in the future have to be weighed against this track record of being really really badly wrong

If they were that smart they'd have bought 20 years ago. Buy at a peak or a trough, it makes no difference on a 30 year timescale

padington

I care.

Thank God I stopped listening to the crashists before 2012 kicked in.

tad1984

As a first time buyer, currently looking for a place in London, this is all a bit intimidating.

Bubble_and_Squeak

tad1984 wrote: »

As a first time buyer, currently looking for a place in London, this is all a bit intimidating.

be thankful you weren't looking last year when people were putting in sealed bids for rat cage flats they weren't even allowed to view!

System

Yeah paying less for the same place last year would have been horrid, you got lucky there tad1984

tkane

Bubble_and_Squeak wrote: »

be thankful you weren't looking last year when people were putting in sealed bids for rat cage flats they weren't even allowed to view!

In all honesty, are you seeing prices going down in your part of London? I.e. Manor Park/Forest Gate/Stratford/Leyton etc.

These areas have seen robust demand in recent months as buyers look for better value.

How can you tell people that they were lucky they didn't buy last year when prices and demand are up significantly?