Is property in a bubble?

economic

Electrum wrote: »

Yes its all about looking for value. Would overseas money see value in London at current levels? :rotfl:

More likely they will be looking in Eastern Russia where University cities are looking very cheap places to buy property.

Its all about buying undervalued and selling overvalued. Easy to see which is which currently

i disagree with this completely. you obviously dont know how markets function. london is expensive compared to russia for many reasons. if you listened to your own advice why not just buy in somalia?

economic

cells wrote: »

In dollar terms London property is not much more than it was 9 years ago. Although prices have doubled the currency has fallen by almost half from $2.1 to $1.3

And bear in mind that many currencies are linked to the dollar eg the Chinese Yuan and the Saudi currency and many more

Also economic and wage growth in many countries has been running strong. The Chinese are earning more than twice what they were in 2007 which means London affordability for them that is property price v chibee wages are far more affordable.

The story for London over the next 30 years is going to be India. Their wages will increase 20 fold in real terms and even a very small percent of those 1.5 billion people making their way to London will drive London prices even higher

agree however this assumes london will remain attractive in 30 years time. its a long time and anything can happen, perhaps the east will rise and be seen as the new financial capital instead of the west?

padington

economic wrote: »

agree however this assumes london will remain attractive in 30 years time. its a long time and anything can happen, perhaps the east will rise and be seen as the new financial capital instead of the west?

You can't build a city like London. You can't pay an architect to build the capital home of history, science, time, literature, film, TV, parliamentary democracy, football, Tennis, English language, royal family, magic, pop music etc

You just can't buy it.

Alexandria remained hugely popular for a 100 years after its peak. A good city glows for a long long time after its heyday.

Also I think it's possible to say London may not have even peaked yet.

Woodgreen certainly hasn't.

System

It's been in a bubble since about 1500, caused by increasing population, increasing GDP, and finite size of the country and particularly London.

When any of those things are rectified, the bubble will burst.

Jack_Johnson_the_acorn

Clifford_Pope wrote: »

It's been in a bubble since about 1500, caused by increasing population, increasing GDP, and finite size of the country and particularly London.

When any of those things are rectified, the bubble will burst.

"The finite size of the country"..... are we going to "build more country". I think Mark Twain has covered that point. :rotfl:

padington

Jack_Johnson_the_acorn wrote: »

"The finite size of the country"..... are we going to "build more country". I think Mark Twain has covered that point. :rotfl:

If farmers don't get a subsidy from the EU maybe that land will be built on, that could be a game changer.

System

Jack_Johnson_the_acorn wrote: »

"The finite size of the country"..... are we going to "build more country".

Irony missed.

But not entirely a joke. The Dutch have managed it, also Dubai.
Then there's up, down, reclamation of brownfield, contaminated sites, etc.

Jack_Johnson_the_acorn

Clifford_Pope wrote: »

Irony missed.

But not entirely a joke. The Dutch have managed it, also Dubai.
Then there's up, down, reclamation of brownfield, contaminated sites, etc.

Hardly ironic. Stupid definitely.

The-Joker

Jack_Johnson_the_acorn wrote: »

"The finite size of the country"..... are we going to "build more country". I think Mark Twain has covered that point. :rotfl:

There is about 95% of the uk left to build on

Jack_Johnson_the_acorn

The-Joker wrote: »

There is about 95% of the uk left to build on

Idiot. Your comprehension skills need a tune up.