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London housing bubble likely to burst: '30% price correction'
7sefton
Posts: 654 Forumite
Haven't seen this covered elsewhere on this forum...
http://www.telegraph.co.uk/finance/property/house-prices/11963302/London-on-course-to-become-next-house-price-bubble-fatality-warns-UBS.html
As someone who has just started the hunt for somewhere to buy in London (and committed mentally to the idea), this absolutely terrifies me... I'm seriously considering giving up because I don't think I could cope with the thought of working so hard to get a mortgage only to be plunged into negative equity.
Discuss!
http://www.telegraph.co.uk/finance/property/house-prices/11963302/London-on-course-to-become-next-house-price-bubble-fatality-warns-UBS.html
As someone who has just started the hunt for somewhere to buy in London (and committed mentally to the idea), this absolutely terrifies me... I'm seriously considering giving up because I don't think I could cope with the thought of working so hard to get a mortgage only to be plunged into negative equity.
Discuss!
0
Comments
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This needs moving into the the "debate house prices" board.
But this is a risk you take when you buy a house anywhere, there is a myth that property prices only go up and up, which simply isn't true.
If you are asking if London prices are sustainable long term I think your answer is pretty obvious. But no one can tell you when, if ever, prices will fall.
Maybe consider buying outside the capital?0 -
there is a dedicated forum of its own specially for people to post second guessing and general conspiracies re house prices so that such nonsense is kept away from those with genuine questions needing genuine answers
Its called the DEBATE house prices board
http://forums.moneysavingexpert.com/forumdisplay.php?f=1490
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