Perma prop bulls, are there any left?

padington

lisyloo wrote: »

Is it possible or likely that our government will take steps to ensure that natives have a chance of buying a home?
For example Sadiq Khan is starting an investigation into the extent of effect of foreign ownership in London presumably with a view to doing something about it.
I welcome both the move in the right direction and the fact that he's trying to understand the issue before acting.

The known unknown that you can never plan for is government intervention.

They will have to do something for sure and so they should.

Will property ever be a bad bet over any ten year period during our life times?

Doubt it.

AG47

padington wrote: »

They will have to do something for sure and so they should.

Will property ever be a bad bet over any ten year period during our life times?

Doubt it.

They can easily raise taxes, stamp duty all kinds of charges, and I suspect they will. The trend has started that, look at all the changes last few years. Guess what further revenue can come from property next few years?

Will property be a bad bet over any ten year period in our lifetimes? Well if you believe it can carry on going up and never have a significant correction then yes. You are a perma prop bull. I do not believe that. I am certainly not a perma prop bull.

padington

AG47 wrote: »

They can easily raise taxes, stamp duty all kinds of charges, and I suspect they will. The trend has started that, look at all the changes last few years. Guess what further revenue can come from property next few years?

Will property be a bad bet over any ten year period in our lifetimes? Well if you believe it can carry on going up and never have a significant correction then yes. You are a perma prop bull. I do not believe that. I am certainly not a perma prop bull.

You just have to look at the highest prices obtained in some areas of London to realise a) prices fluctuate and they can go down especially after tax changes but also b) these high prime area prices could easily become the norm for other areas in London as demographics change and gentrification and regeneration marches ahead.

The first point is very important regarding the short term but the second point very important for mid to long term. Both points should be considered for property attractive to foreigners at the moment (flats in central London, Manchester etc) but for period houses where normal people want to live that are 'on the up', I believe they will still do very very well even over a two to five year time frame.

The-Joker

It seems all the perma prop bulls are admitting this is the top

westernpromise

I don't see a lot of room for further short term inflation in the SE over the next 2 to 3 years, but that's not "admitting this is the top".

1/ who cares?
2/ at what time in the last 60 years has there been a "top"?
3/ there's been no rise in much of the country anyway.

padington

The-Joker wrote: »

It seems all the perma prop bulls are admitting this is the top

We are not at top I don't think, the property bull isn't turning into a bear. The bull might take a breather at some point though and when it does prices will stagnate or dip for a while.

If you think you can time that and make a fortune doing so, good luck to you.

HPC gang have been playing that game for long time and it hasn't worked.

However I appreciate for some it's the only game in town.

If you are looking at a ten year investment plus, as you should for property and you can afford to get somewhere now and otherwise you would be renting, buy somewhere now still is my advice.

AG47

TooGee7 wrote: »

There are hardly any real perma prop bulls left

There are still a few on here, but they are few and far between.

Most people agree property can't keep going up at the same rate forever, what goes up must come down again, the only question is when?

chucknorris

AG47 wrote: »

There are still a few on here, but they are few and far between.

Most people agree property can't keep going up at the same rate forever, what goes up must come down again, the only question is when?

No sensible person has ever said that property goes up at the same rate forever, I think that you would be hard pushed to find an idiot that did say that. In my lifetime I have witnessed 3 property price corrections (70's, 80's/90's and the 00's), every one of them corrected to a level higher than the previous correction level, and then went on to recover and reach a new high. Unless I die unexpectedly I will live to see another correction, and possibly also a second one too, and I don't anticipate those corrections being any different. Not that it matters if they were though, because I have already started to sell.

EDIT: But most people live in their property, it is their home, and many of them don't particularly care what the value is.

Crashy_Time

Even the MSM know it`s a bubble, the half dozen hold outs on here are like the Japanese guy still defending his island for 30 years after the war ended...........:rotfl:




http://www.dailymail.co.uk/property/article-4148796/The-January-Property-Sale-House-prices-cut-50.html

Crashy_Time

chucknorris wrote: »

No sensible person has ever said that property goes up at the same rate forever, I think that you would be hard pushed to find an idiot that did say that. In my lifetime I have witnessed 3 property price corrections (70's, 80's/90's and the 00's), every one of them corrected to a level higher than the previous correction level, and then went on to recover and reach a new high. Unless I die unexpectedly I will live to see another correction, and possibly also a second one too, and I don't anticipate those corrections being any different. Not that it matters if they were though, because I have already started to sell.

EDIT: But most people live in their property, it is their home, and many of them don't particularly care what the value is.[/QUOTE]



Unless they are selling (cough cough)