How interest rates affect property values

Crashy_Time

wotsthat wrote: »

Prices look a bit mental in London - I first said this when I turned down a 50% share in a Bermondsey flat which, with a full RTB discount, would've set me back less than £50k. That was 1993/4.

If house prices were so very easy to predict then I'd be in a large Cornish house with land and sea views. You wouldn't have spent 20 years chasing cheap digs.

I`m talking about taking the blinkers off and looking at the sentiment/political backlash/global problems of NOW, plus the insane levels of house prices, not doing a time machine fantasy exercise.

wotsthat

Crashy_Time wrote: »

I`m talking about taking the blinkers off and looking at the sentiment/political backlash/global problems of NOW, plus the insane levels of house prices, not doing a time machine fantasy exercise.

If you did a time machine fantasy exercise (aka checking the quality of past predictions) you'd realise you wouldn't be top of the list of expert house price predictors.

You just hit the reset button on a daily basis.

economic

i guess you do need someone like crashy on here for a bit of a laugh for all of us - and a reminder on how NOT to think/behave.

cells

Crashy_Time wrote: »

I`m talking about taking the blinkers off and looking at the sentiment/political backlash/global problems of NOW, plus the insane levels of house prices, not doing a time machine fantasy exercise.

Do you really think prices in the north the Midlands and wales are insane? A good portion of the stock in those parts is selling for below materials and labour cost so you are getting the land and utilities and road outside for free.

padington

Relatively cheap London powering ahead according to the hate mail ...
http://dailym.ai/1Oxb3ro

Crashy_Time

economic wrote: »

i guess you do need someone like crashy on here for a bit of a laugh for all of us - and a reminder on how NOT to think/behave.

Says someone who escaped the biggest bubble in history and promptly dived back in.......:rotfl: Time will tell if your thinking and behaviour were sensible.

Crashy_Time

cells wrote: »

Do you really think prices in the north the Midlands and wales are insane? A good portion of the stock in those parts is selling for below materials and labour cost so you are getting the land and utilities and road outside for free.

Houses in these areas must be flying off the shelf, what with the property shortage and all?

cells

Crashy_Time wrote: »

Houses in these areas must be flying off the shelf, what with the property shortage and all?

There is little to no shortage in the north and Midlands. The interest on a mortgage to buy the average terrace in those areas is often lower than paying social rents in some cases half as much

Do you think in an area where the mortgage interest is lower than social rents that area is overpriced?

Crashy_Time

cells wrote: »

There is little to no shortage in the north and Midlands. The interest on a mortgage to buy the average terrace in those areas is often lower than paying social rents in some cases half as much

Do you think in an area where the mortgage interest is lower than social rents that area is overpriced?

Social rents are paid by the state, in full or in part in most cases? What connection do you see to the mortgage market?

economic

Crashy_Time wrote: »

Says someone who escaped the biggest bubble in history and promptly dived back in.......:rotfl: Time will tell if your thinking and behaviour were sensible.

yes time will tell if prices drop 30% and my decision was wrong but i dont like to bet on a neccessity like a roof over my head. whereas you need prices to drop more then 100% for you to become right.