Fears: "Massive global property crash"

kabayiri

Crashy_Time wrote: »

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Has she never heard of Travelodge? Would be much cheaper, there is one next to the station :rotfl:

I do think we need a wider range of accommodation product when it comes to places like Capital cities.

Why can't people buy timeshare options in specially constructed residency pods?

Should London have more work focussed accommodation? I see it as a working town, and I'm not alone.

Maybe our attitudes towards property is stuck in the 19th century.

Crashy_Time

kabayiri wrote: »

I do think we need a wider range of accommodation product when it comes to places like Capital cities.

Why can't people buy timeshare options in specially constructed residency pods?

Should London have more work focussed accommodation? I see it as a working town, and I'm not alone.

Maybe our attitudes towards property is stuck in the 19th century.

It is also the pinnacle of the UK financial bubble, if London crashes that sends a message to the world about the UK. Budget hotel rates in London now tell us that they are struggling to keep the financialised Ponzi monster alive IMO.


It`s the same reason they never did "mass-housebuilding", it would have caused the mother of all property crashes. Any subsidised/cheap/bonus work related housing in London on a big scale would pop the bubble for sure, because everyone would start demanding it as part of their employment package?

padington

Crashy_Time wrote: »

Your posts are however on a par with Buffet`s annual letters to shareholders......:rotfl:

Says the person with the finacial acumen of a blind goat X

Jack_Johnson_the_acorn

Crashy_Time wrote: »

It is also the pinnacle of the UK financial bubble, if London crashes that sends a message to the world about the UK. Budget hotel rates in London now tell us that they are struggling to keep the financialised Ponzi monster alive IMO.


It`s the same reason they never did "mass-housebuilding", it would have caused the mother of all property crashes. Any subsidised/cheap/bonus work related housing in London on a big scale would pop the bubble for sure, because everyone would start demanding it as part of their employment package?

I thought Foxton's share price was the sign for impending doom, now it's the price of a night in a premier inn.... :rotfl:

silly old me thinking actual sold prices are the best indicator


Keep it up Crashy :rotfl:

Crashy_Time

Ok.


https://www.estateagenttoday.co.uk/breaking-news/2017/1/investment-firm-claims-some-london-asking-prices-cut-30-per-cent

westernpromise

sann420 wrote: »

I think property prices will crash in London once lucrative jobs start moving out to other EU financial centres such as Frankfurt, Dublin and Amsterdam etc due to Brexit.

The house price drop will start from inner London and move to the rest of the country. People of inner London are generally wealthy. They can sustain a drop of 25% to their property and say meh. The normal people of London outer boroughs and towns will suffer the most in the long run.

Once the exodus starts the banks will try to beat their rivals to secure the limited resources at the destination so it will be quickish.

The brexiteers will keep on chanting: Who buys all the cars? We do , We do.
I predict these chants will become louder and hollower as the time goes by.

Once we're out of the EU there will be more lucrative jobs in London, not fewer, because we'll become a lightly-regulated lower-tax offshore competitor to the EU. Why do you think they're so angry with us?

always_sunny

westernpromise wrote: »

Once we're out of the EU there will be more lucrative jobs in London, not fewer, because we'll become a lightly-regulated lower-tax offshore competitor to the EU. Why do you think they're so angry with us?

Who's angry?
There are already quite a good amount of lucrative jobs in London today... isn't the problem the lack of opportunities outside the capital?

lisyloo

Crashy_Time wrote: »

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Has she never heard of Travelodge? Would be much cheaper, there is one next to the station :rotfl:

I stayed in a travelodge my first week in London.
The big issue was having no cooking facilities (both expensive and calorific to eat out or very sad to have a pot noddle at your travelodge).
Serviced apartments are an alternative if you are there less than 5 nights, but some of them are a masterclass in miniaturisation.
Still there are a variety of options if you don't want to buy.
Air bnb is another one.

GreatApe

sann420 wrote: »

I think property prices will crash in London once lucrative jobs start moving out to other EU financial centres such as Frankfurt, Dublin and Amsterdam etc due to Brexit.

The house price drop will start from inner London and move to the rest of the country. People of inner London are generally wealthy. They can sustain a drop of 25% to their property and say meh. The normal people of London outer boroughs and towns will suffer the most in the long run.

Once the exodus starts the banks will try to beat their rivals to secure the limited resources at the destination so it will be quickish.

The brexiteers will keep on chanting: Who buys all the cars? We do , We do.
I predict these chants will become louder and hollower as the time goes by.

I dont think there is a good reason to expect UK GDP to contract by much at all in nominal sterling. Even the last uk crash/recession which was horrific and the worst one ever and was in a period when the whole world was in recession just saw a 3% nominal fall in GDP

This is one of the reasons there was no crash, in British money in your pocket terms the country only had a 3% pay cut in 2008 and the result was a 10% fall in property prices followed by a fairly quick recovery

I think its quite possible a brexit could crash property prices in dollars or Euros but not so much in pounds. In fact this has already happened to some degree with prices down about 20% since the vote in dollar terms but none at all in pound terms.

padington

Martinslovechild wrote: »

I disagree. My own investments are up by around 42% since the start of 2015 as a result of reading articles in MoneyWeek. Many savers are lucky to see 2.5% over the same timeframe.

Sure, if you feel differently towards property, shares or other assets, then go ahead and fill your boots, but as this discussion brings together a number of different opinions, I personally believe that London property - at 10.1 times average earnings - is overpriced and due a fall or stagnation. For the remainder of the UK, prices are currently around historical averages, so I see an overall increase in house prices outside London and the South-East, but a softening in London.

How high house prices go over the next few years depends heavily on inflation and if the Bank of England does anything about countering inflation with higher rates (unlikely as it allowed RPI to peak at over 5% when Mervyn King was in charge).

If you had been following their advice since 2010 you might be cutting your wrists now from selling property and renting to buy gold etc.

Stopped clocks are sometimes right though.

What have you been investing in out of interest and why did you follow the advice of something with such a poor proven track record of giving financial advice in the first place?

If we get a hard Brexit I have doubt for a few years we may get a correction or even a crash but once a 10% corporation tax kicks into action and a few trade deals kick in, people that held London property certainly will not be crying into their drinks.

At the same time their is a good chance nothing much will change. A soft Brexit will create a mild boom, I would have thought. Whilst boom times for the US no doubt will lift some boats over here.

The man that bets against the Woodgreen tracker © is a brave man in my book. I still wouldn't do it personally.

Take Brexit back to its logical conclusion, it's all about immigration. More and more, because of cheap flights and a real attractive city making global adverts with Olympics, British set films, Royal births and everything else etc together with post industrialisation pulling jobs and money away from non tech areas into others pro tech areas.

That's not going to change.