London Has Peaked

Bubble_and_Squeak

padington wrote: »

Muswell hill.

ah, the old change the area from wood green to muswell hill trick!
thats a good one!
but not good enough if you have property-bee.
229 entries for muswell hill
64 price cuts
2 price increases (and one of those is still lower than the original asking price)
what was that about a 10% increase?
or are you going to move the goal posts again?

Bubble_and_Squeak

Jonbvn wrote: »

It is hardly a FTB property, so I would guess from the sale of another property?

that could work- if they can find someone to pay the inflated asking price

Jonbvn

Bubble_and_Squeak wrote: »

that could work- if they can find someone to pay the inflated asking price

You mean someone who has plenty of equity in their property, given that they have been smart enough to overpay during an extended period of record low interest rates and is looking for a move up or down?;)

mayonnaise

Bubble_and_Squeak wrote: »

and you people laugh at the HPC crew?

Come on, you have to admit, that middle aged guy, Crashy Time, queuing for the loo in his HMO while chatting up bingo wings was funny.:rotfl:

chucknorris

Bubble_and_Squeak wrote: »

and you people laugh at the HPC crew?

Although I may make the very occasional joke about them, in reality I think they are well beyond a joke, I think it is extremely sad that people can end up like that.

padington

If Muswell hill can defy wage income ration's, is it not so hard to see that other places might also do, to varying degree's.

The unhappenable already has happened all over the place.

The sands do move, but we've seen what's possible already. The problem with the bear arguement is that it fails to explain what has already happened.

Muswell hill did what their reasoning states is impossible.

Bubble_and_Squeak

Jonbvn wrote: »

You mean someone who has plenty of equity in their property, given that they have been smart enough to overpay during an extended period of record low interest rates and is looking for a move up or down?;)

diminishing equity in todays market

Bubble_and_Squeak

padington wrote: »

If Muswell hill can defy wage income ration's, is it not so hard to see that other places might also do, to varying degree's.

The unhappenable already has happened all over the place.

The sands do move, but we've seen what's possible already. The problem with the bear arguement is that it fails to explain what has already happened.

Muswell hill did what their reasoning states is impossible.

this is generally known as a bubble
i know, i know, this time its different blah blah blah

padington

Bubble_and_Squeak wrote: »

this is generally known as a bubble
i know, i know, this time its different blah blah blah

A bubble is a rubbish metaphor for something that has steadily increased in value over many many years. Bubbles go pop. They disappear. Houses in London never just disappear.

Cities also don't lose their alure overnight, they are old beasts, ten years is a short time for a city and London is in pole position.

Betting against London is a bet that will come in eventually but be prepared to take a pasting for possibly many years until it does and don't expect to pick up a place for song either when you do, you'll still probably have to pay way more than if you bought now.

Can you see a patern forming ...

1971-73, 1977-80, 1985-89 , 1998-2007 ...

Bubble_and_Squeak

padington wrote: »

A bubble is a rubbish metaphor for something that has steadily increased in value over many many years. Bubbles go pop. They disappear. Houses in London never just disappear.

Cities also don't lose their alure overnight, they are old beasts, ten years is a short time for a city and London is in pole position.

Betting against London is a bet that will come in eventually but be prepared to take a pasting for possibly many years until it does and don't expect to pick up a place for song either when you do, you'll still probably have to pay way more than if you bought now.

Can you see a patern forming ...

1971-73, 1977-80, 1985-89 , 1998-2007 ...

so, london is not in a bubble
try telling that to the poor bomad who paid £470k for a victorian terrace in a horrible part of walthamstow only to find the house down the road couldn't sell for £400k a couple of months later