London Has Peaked

Bubble_and_Squeak

rob404uk wrote: »

E17 and N17 may be crashing. So what if it is as I like living in my little bit of E17 and my mortgage is a lot cheaper than rent would be. I could buy a nice big house in Northern Ireland but I would be unemployed and leave all of my friends. Would that be a good life choice?

which part of walthamstow?
i grew up around what is now the peter may sports centre

Crashy_Time

Jason74 wrote: »

The thing is, you can't have it both ways. On one hand, you tell us that your market has barely moved in ten years. Yet on the other, you tell us that the market is "an overheated Ponzi". By definition, it's pretty much impossible for both of those statements to be true, so you should perhaps decide which of those statements you actually think is accurate. Either that or explain to us mere mortals how two apparently directly contradictory statements can both be true.

My RENTAL market hasn`t moved in 17 years, not ten, the SELLING market has stagnated, because price discovery has been prevented by market interventions, although Edinburgh flats are stuck at about 2005 prices in many cases. Decent houses, I don`t know, can`t really be bothered checking in on prices all the time.


The Ponzi is in the mortgage market, not the rental. I should say "was in the mortgage market", because this phase of pumping houses up in "value" is over. The financial scam artists are likely to move on to another asset soon, stock markets probably? Just a glance at links on HPC shows anyone with a brain cell that property is laughably overvalued?

ukcarper

Crashy_Time wrote: »

My RENTAL market hasn`t moved in 17 years, not ten, the SELLING market has stagnated, because price discovery has been prevented by market interventions, although Edinburgh flats are stuck at about 2005 prices in many cases. Decent houses, I don`t know, can`t really be bothered checking in on prices all the time.


The Ponzi is in the mortgage market, not the rental. I should say "was in the mortgage market", because this phase of pumping houses up in "value" is over. The financial scam artists are likely to move on to another asset soon, stock markets probably? Just a glance at links on HPC shows anyone with a brain cell that property is laughably overvalued?

If you are going to keep using the term Ponzi why can't you explain how the mortgage market is one.

wotsthat

Crashy_Time wrote: »

My RENTAL market hasn`t moved in 17 years, not ten, the SELLING market has stagnated, because price discovery has been prevented by market interventions, although Edinburgh flats are stuck at about 2005 prices in many cases. Decent houses, I don`t know, can`t really be bothered checking in on prices all the time.

I fear you're going to keep confusing the Edinburgh rental market with your personal rent in perpetuity.

Just a quick look at the LSL site shows that Scottish July rents have increased from £507 in 2011 to £534 in 2014. I doubt Edinburgh has been immune from rental inflation in this time. It's clearly nonsense to suggest rents haven't increased since 1997 - your rent might be flattish but you're hardly the poster boy for how people want to live their lives in the real world.

Crashy_Time wrote: »

The Ponzi is in the mortgage market, not the rental. I should say "was in the mortgage market", because this phase of pumping houses up in "value" is over. The financial scam artists are likely to move on to another asset soon, stock markets probably? Just a glance at links on HPC shows anyone with a brain cell that property is laughably overvalued?

..you don't even know what a Ponzi is.

Bubble_and_Squeak

farmlilo road, yes! farmilo road, walthamstow
near the bakers arms
i know it well
we currently have two houses up for sale on farmilo road
one in much better shape than the other
http://www.rightmove.co.uk/property-for-sale/property-32150559.html
http://www.rightmove.co.uk/property-for-sale/property-32138619.html
both on for the same asking price
which is £36,000 lower than the previous sale on the street
of course, the bulls will shout out "oh, the last sold house was far superior to those two match boxes" as they always do
but
every day
the price of a london house drops that little bit further
drip by drip
drop by tiny drop
the day of the bear approacheth

ukcarper

Bubble_and_Squeak wrote: »

farmlilo road, yes! farmilo road, walthamstow
near the bakers arms
i know it well
we currently have two houses up for sale on farmilo road
one in much better shape than the other
http://www.rightmove.co.uk/property-for-sale/property-32150559.html
http://www.rightmove.co.uk/property-for-sale/property-32138619.html
both on for the same asking price
which is £36,000 lower than the previous sale on the street
of course, the bulls will shout out "oh, the last sold house was far superior to those two match boxes" as they always do
but
every day
the price of a london house drops that little bit further
drip by drip
drop by tiny drop
the day of the bear approacheth

Two questions
1 why do you think they are same asking price not many details on tatty one.

2 how far back do you think prices will fall.

Bubble_and_Squeak

ukcarper wrote: »

Two questions
1 why do you think they are same asking price not many details on tatty one.

2 how far back do you think prices will fall.

no idea to both of those questions

ukcarper

Bubble_and_Squeak wrote: »

no idea to both of those questions

I don't know the area but the houses look completely different to me and the fact that they are the same price but one is in better condition could reflect that.

Do you really believe that all houses on the same street are worth the same.

Bubble_and_Squeak

ukcarper wrote: »

I don't know the area but the houses look completely different to me and the fact that they are the same price but one is in better condition could reflect that.

Do you really believe that all houses on the same street are worth the same.

of course not.
if one house fails to achieve the price another one sold for on the same street it means nothing.
however, its happening more frequently as we move on from april.
this simply didn't happen before april.

ukcarper

Bubble_and_Squeak wrote: »

of course not.
if one house fails to achieve the price another one sold for on the same street it means nothing.
however, its happening more frequently as we move on from april.
this simply didn't happen before april.

But you don't know that is happening I'm not saying it isn't but nothing you have posted proves it is.