Today's Bear food

p1212

economic wrote: »

this is just silly. i buy for a home not to speculate. you are speculating by not buying. i sold as i didnt like the area, i so happen to have made a gain too.

keep in mind i bought during the boom and not before it so i didnt make as much as you think. also i still have other wealth not in property. and yes i did save 2.5k a month, its not that hard to do if you have a decent job in london you know. maybe you should try it?

You just said you want to buy another flat to rent out.

economic

p1212 wrote: »

You just said you want to buy another flat to rent out.

i bought my previous and current place as a home. i am thinking of buying another to live in and renting my current one out for income. what is wrong with this? cant i try to grow my passive income so that i can reduce working hours and enjoy more leisure time?

ukcarper

p1212 wrote: »

So you are saying only people who earn 80-100k on average should live in London.

That's top 1-1.5% percentile in the UK, so according to you only 900.000 people should be able to live in London and all the other 9 million should just leave London. Funny

Why do you think that London price to earnings ratio has increased so much when other areas haven't.

cells

p1212 wrote: »

So you are saying only people who earn 80-100k on average should live in London.

That's top 1-1.5% percentile in the UK, so according to you only 900.000 people should be able to live in London and all the other 9 million should just leave London. Funny

About 2.1 million of London live in social homes

And no its not just income. People who receive inheritences and gifts can live in London. Londoners get ~£50 billion let year in inheritances and gifts that's plenty to buy lots of homes

p1212

ukcarper wrote: »

Why do you think that London price to earnings ratio has increased so much when other areas haven't.

Free and exponentially created speculative money hit the market concentrated on a short time period (last few years) and desirable locations (London, better parts of Manchester, etc...).

HAMISH_MCTAVISH

p1212 wrote: »

Free and exponentially created speculative money hit the market concentrated on a short time period (last few years) and desirable locations (London, better parts of Manchester, etc...).

And yet mortgage approval numbers remain stuck at around 60% of that before the credit crunch and still well below historical norms.

The evidence does not support your assertions.

p1212

HAMISH_MCTAVISH wrote: »

And yet mortgage approval numbers remain stuck at around 60% of that before the credit crunch and still well below historical norms.

The evidence does not support your assertions.

Mortgage approvals shooted up from around 2000 together with prices. In 2008 they've fallen together with prices. Then since 2013 they have been up again together with prices.

And now they are down again...

economic

p1212 wrote: »

Mortgage approvals shooted up from around 2000 together with prices. In 2008 they've fallen together with prices. Then since 2013 they have been up again together with prices.

And now they are down again...

you are a very silly person.

ukcarper

p1212 wrote: »

Free and exponentially created speculative money hit the market concentrated on a short time period (last few years) and desirable locations (London, better parts of Manchester, etc...).

What fee money is that and if it did why did it only effect London and not just as desirable places just outside.

p1212

ukcarper wrote: »

What fee money is that and if it did why did it only effect London and not just as desirable places just outside.

I've already explained it at least two times in the last few days, read it back.