London Rabbit Hutches

Conrad

Windofchange wrote: »

I don't think there is one other than letting this play out the only way it will with a fall in prices. We're just in the end throws of another cycle. Boom, bust, boom, bust - as it always has been, as it always will be.

Interesting you should raise the national debt concern too. I see 100% mortgages are sneaking back in too since we learned our lesson in 2008.

Honestly I was an early member of the housepricecrash forum and from around 2006 I was worried about a crash so I am well aware of these cycles (I was in denial prior to 2006), but I've long known property crashes require a sudden and violent external shock to the system.


I cant see one on the horizon for years to come, house prices have a way to go yet.


As to 100% mortgages, they were readily available from about the mid 1980's by the likes of Nationwide, Abbey National and Nat West. Repossession rates even at the peak of the crash in 2009/10, were less than 1% in spite of 125% and self cert mortgages.


In other words 99%+ of us sustain our mortgages. I've seen the delinquency rates on books of self cert mortgages and they were actually lower than for full status. The thinking is people had to part with large deposits of 'hurt money' and so they were less likely to 'throw in the keys'


Don't get carried along with the fuming types that think 100% borrowing is evil, the vast majority find it a perfectly useful and sustainable tool.


BOOM BUST - yes but so what? Prices always go up. The odd temporary price fall is nothing really.

Windofchange

Yup, prices will rise for everything, and in 25 years time your house will be worth more than now. I don't have a crystal ball anymore than the next man, but there are some potential shocks on the horizon - Brexit tomorrow as a starter.

This is turning into another where are prices going thread when really it was just a remark on how property around here at least is getting smaller and more expensive to the point of being borderline ridiculous. In my opinion of course before I upset the sensibilities of economic and great ape.

GreatApe

Even if they were selling 'flats' that were just 5sqm what is it to you or me to make a moral judgement that it should be illegal? If the buyer wants to buy it then go ahead its got nothing to do with you or with me.

economic

GreatApe wrote: »

Even if they were selling 'flats' that were just 5sqm what is it to you or me to make a moral judgement that it should be illegal? If the buyer wants to buy it then go ahead its got nothing to do with you or with me.

its because WindofChange is a socialist. he wants everything to be fair and proper. this means everyone should be able to afford to buy in a decent area and a decent size house. what he doesnt get is inequality needs to exist for a fairer and more prosperous society. if you have equality or even try to become even a little bit fairer it means that it sets a precedence and everyone will start wanting their fair share or start feeling disgruntled for working hard for society and getting less in return.

Mr BagofWind - it is simple really. prices are the way they are due to market forces. you cant do anything about that. what people can do if they want to buy is to do something about themselves. your constant posts about how unfair it all is is just cringe worthy at best and just plain stupid and ignorant at worst. you can keep posting crap but you are just a deluded person who will never see any sense.

Windofchange

Right well that's me told hey. I agree. The market obviously sees an opening for these sorts of places, and it wouldn't surprise me in the climate we have at the moment if they sell. It's funny that neither of you can see anything wrong with squeezing people into office cubicles because we haven't got anywhere else to put them.

As for cringe worthy posts, we could always dig up some of your top ten on the homeless and key workers from a few weeks back. I was quite enjoying the adult conversation with Conrad.

GreatApe

Windofchange wrote: »

Right well that's me told hey. I agree. The market obviously sees an opening for these sorts of places, and it wouldn't surprise me in the climate we have at the moment if they sell. It's funny that neither of you can see anything wrong with squeezing people into office cubicles because we haven't got anywhere else to put them.

As for cringe worthy posts, we could always dig up some of your top ten on the homeless and key workers from a few weeks back. I was quite enjoying the adult conversation with Conrad.

not everyone wants a big house and large costs I know one house share full of professionals and I would estimate they have on average <20sqm of space all earn good money £40k+ and could actually buy a 3 bedroom house £100k in the local cheap midlands area they work but seem fine with what they rent

your idea is to make their choose illegal/immoral and force them to buy or rent a bigger place than they want/need

So while you see greed you are blind to the fact that you are simply destroying choice based on your own morals and views.

Windofchange

GreatApe wrote: »

your idea is to make their choose illegal/immoral and force them to buy or rent a bigger place than they want/need

You should get an award for abstract thinking. Where have I used the words illegal or immoral? My personal opinion as stated is that people buying these units need their heads looking at, but illegal or immoral?

I'm not interested in another weird argument with you two about what you think I said and who you think I am. I'll leave it there.

economic

Windofchange wrote: »

You should get an award for abstract thinking. Where have I used the words illegal or immoral? My personal opinion as stated is that people buying these units need their heads looking at, but illegal or immoral?

I'm not interested in another weird argument with you two about what you think I said and who you think I am. I'll leave it there.

so essentially you decided to post an article on small studio flats and say that people who buy these are stupid. and that we should debate this. what i am saying is that people can make their own decisions what to buy so let them be (and i am the nasty person here?). a lot of people would say you have been stupid for posting so much rubbish on these forums.

ruperts

Can easily see how this would appeal to a certain demographic. It provides a route into London and its higher salaries, better career prospects (in some industries) and world class city trappings without the massive expense of renting an ordinary sized apartment. I'd have done it myself in my 20's and loved it I'm sure.

Struggling to see how the provision of these spaces itself is immoral, however you could argue that the circumstances that created the situation where these types of 'property' are in demand i.e. baby boomers and the older generation voting for policies that would increase their paper wealth but leave the next generation in a situation where getting onto the housing ladder in an area where jobs are available is next to impossible, certainly contains some seriously immoral elements.

Windofchange

ruperts wrote: »

Can easily see how this would appeal to a certain demographic. It provides a route into London and its higher salaries, better career prospects (in some industries) and world class city trappings without the massive expense of renting an ordinary sized apartment. I'd have done it myself in my 20's and loved it I'm sure.

Struggling to see how the provision of these spaces itself is immoral, however you could argue that the circumstances that created the situation where these types of 'property' are in demand i.e. baby boomers and the older generation voting for policies that would increase their paper wealth but leave the next generation in a situation where getting onto the housing ladder in an area where jobs are available is next to impossible, certainly contains some seriously immoral elements.

I'm not saying it is immoral - that is something others have worked in. I posted the article as an example of how things have got a bit silly round here. When people say there is no housing crisis, no shortage, it's all working just fine - this to me paints a very different picture.

Yup, I guess for university students etc these could fit a purpose for a year in your life, but these aren't being sold as such. I wonder how much 'the norm' places like this will become, or whether people will just say enough is enough and they'll sit empty.