The London property market is doomed, doomed I tells ya

Yolina

AG47 wrote: »

London has a long way to fall. Lots of worried property owners trying to sell at the same time now

Erm... looking at Rightmove, within a 1/4 mile of my home (in zone 2) there are currently only 9 properties up for sale. None have been added after June 20th.

AG47

Right now there are many members of the European Union that were emboldened by the UK vote to Leave the EU. They are feeling nationalistic and see the UK decision as a positive thing.

Unless the EU and the Bad Guys PROVE that it is a very bad move ALL of the EU counties will try to leave.

If the stock markets continue to soar over the next few weeks it will have a very, very, very negative effect on the European Union and those that want to show the world that there is no other choice but to follow their lead.

Watch for a MASSIVE attempt by the EU and the Bad Guys to destroy the financial markets in the coming weeks as it will be the only thing left to save the EU. Come mid-July, when the derivatives are settled, there won't be much left to pass around.

Monday could go either way as the US and the Exchange Stabilization Fund will be all over propping up the markets. In the end the crash will come and then it comes down to blame.

The EU will blame the departure of the UK for the crash.

The battles are raging and you have a front row seat

AG47

Yolina wrote: »

Erm... looking at Rightmove, within a 1/4 mile of my home (in zone 2) there are currently only 9 properties up for sale. None have been added after June 20th.

Did you expect it happen in a day? Look how long it took to blow the bubble this big? It will be faster to deflate but still going to take years to get to the bottom

Yolina

AG47 wrote: »

Did you expect it happen in a day?

Well according to you

Lots of worried property owners trying to sell at the same time now

chucknorris

Yolina wrote: »

Erm... looking at Rightmove, within a 1/4 mile of my home (in zone 2) there are currently only 9 properties up for sale. None have been added after June 20th.

We are seeing the same thing, We viewed a house last week, these were the estate agent's exact words:

'We have two appointment slots left available on the open day, but from what you have said, I don't anticipate any bid you make will be seriously considered, as there are already 3 cash potential buyers and I expect the house to be sold for at least the asking price (£700k, and it needed a lot of work) on the same day. This was in my home town of Dorking, which is definitely NOT in a bear market. The house was sold two days after the opening day, we didn't like it that much anyway (the rooms were not large enough).

My wife is about to put an investment property up for sale, and we have decided to wait until that is sold, so that we are in a cash buyers position before we upsize our home.

chucknorris

AG47 wrote: »

Did you expect it happen in a day? Look how long it took to blow the bubble this big? It will be faster to deflate but still going to take years to get to the bottom

But you have been saying this for a long time haven't you?
How many years have you waited so far?
How much have prices risen since then?
How much rent have you paid since then?

You posted this last Summer, and in it you say that you have been saying it for a long time:

AG47 wrote: »

It looks like it has begun. We have been telling you here for rather too long that the huge rise in the supply of new-build flats in London would eventually lead to a glut in the supply.

AG47

chucknorris wrote: »

But you have been saying this for a long time haven't you?
How many years have you waited so far?
How much have prices risen since then?
How much rent have you paid since then?

You posted this last Summer, and in it you say that you have been saying it for a long time:

And this time next year the perma prop Bulls will be making excuses why property is falling so much every month. But the bottom wil be a long way off yet.



Right now there are many members of the European Union that were emboldened by the UK vote to Leave the EU. They are feeling nationalistic and see the UK decision as a positive thing.

Unless the EU and the Bad Guys PROVE that it is a very bad move ALL of the EU counties will try to leave.

If the stock markets continue to soar over the next few weeks it will have a very, very, very negative effect on the European Union and those that want to show the world that there is no other choice but to follow their lead.

Watch for a MASSIVE attempt by the EU and the Bad Guys to destroy the financial markets in the coming weeks as it will be the only thing left to save the EU. Come mid-July, when the derivatives are settled, there won't be much left to pass around.

Monday could go either way as the US and the Exchange Stabilization Fund will be all over propping up the markets. In the end the crash will come and then it comes down to blame.

The EU will blame the departure of the UK for the crash.

The battles are raging and you have a front row seat

chucknorris

AG47 wrote: »

And this time next year the perma prop Bulls will be making excuses why property is falling so much every month. But the bottom wil be a long way off yet.

On property I am actually quite bearish, why do you assume that I am a property bull? Just because I am not a foolish bear like you, it doesn't mean that I am a bull:

chucknorris wrote: »

Have you not realised yet that I am more of a property bear (than bull)? I don't see a good future for London landlords who intend to enter the market. I have already posted numerous times that when the base rate gets near 2.5%, I intend to sell up and invest the equity in shares, because they will be equally profitable, but with far less hassle. I haven't invested in property since 2008, since then I have only invested in shares and to a far lesser extent buying additional pension in the TPS. If it wasn't for my low margin tracker mortgages (they distort the profits), I would have probably sold a few properties already.

Out of all the landlords on here, you pick the one landlord that thinks residential property is not a good investment going forward, to insinuate that I only post positive views on property, I have posted my negative views many times.

AG47

chucknorris wrote: »

On property I am actually quite bearish, why do you assume that I am a property bull? Just because I am not a foolish bear like you, it doesn't mean that I am a bull:

Ha that's a new one. So some of the perma prob bulls are now admiring they should be prob bears, but they are not foolish bears :rotfl:

I wonder if there are foolish perma prop Bulls as well? One certainly comes to mind.

chucknorris

AG47 wrote: »

Ha that's a new one. So some of the perma prob bulls are now admiring they should be prob bears, but they are not foolish bears :rotfl:

I wonder if there are foolish perma prop Bulls as well? One certainly comes to mind.

Is English not your first language? Or are you just so excited and frothing that you are not articulate? If you bothered to read through my past posts you would find many examples of posts where I have been far from bullish on property (like the one I posted above, or didn't you even bother to read it?), so it isn't 'a new one'.

What does:

AG47 wrote: »

So some of the perma prob bulls are now admiring they should be prob bears, but they are not foolish bears

actually mean? Is it supposed to mean something in English?