Lunatic London Property market starting to turn?

Conrad

Sapphire wrote: »

Your remark about 'showing off' is apt, I think. I do feel that many people think that owning 'stuff', including property, somehow raises them in status, defines them and makes them appear better than others. I've noticed that attitude in quite a few people, and for me it is singularly unimpressive. I suppose that's how a majority of people have always thought, though …

It's always been the case people have wanted to flaunt and signpost their wealth by building / acquiring status property way back into history.


I find property is not a reliable indicator of wealth at all but many people think it is. Some of my wealthiest clients live in very ordinary properties.


I never forget this Architect, very bohemian, and literally had the biggest house in his village, a mansion.


He called upon my services and once I'd analysed his position his net total asset wealth was a modest £200k. He was nearing retirement and had basically lived well beyond his means.

economic

Conrad wrote: »

I well recall a respected chap I know in 1998/9 saying the market hat topped and was deffo falling and going to collapse. Heard the same predictions endlessly, year in year out.


Watch old news reels to get a sense of perspective on Human pessimism. No matter what the year you can find old news pieces / documentaries claiming the world has never been more dangerous / troublesome with so much risk on the horizon.


Look at this recent BBC documentary on oil, and how the Mid East held the west to ransom many times, when our oil was turned off and western economies literally ground to a halt, and yet life went on, house prices still rose in general despite enormous issues around energy security. By comparison, life is far more orderly now.


What I'm saying is people massively over estimate property downside on the whole, because in the end prices keep rising in spite of all sorts of TEMPORARY issues


http://www.bbc.co.uk/iplayer/episode/b053gf85/planet-oil-the-treasure-that-conquered-the-world-episode-2#

i think its worse with shares. a lot of people think shares are in a bubble...

Cakeguts

Conrad wrote: »

It's always been the case people have wanted to flaunt and signpost their wealth by building / acquiring status property way back into history.


I find property is not a reliable indicator of wealth at all but many people think it is. Some of my wealthiest clients live in very ordinary properties.


I never forget this Architect, very bohemian, and literally had the biggest house in his village, a mansion.


He called upon my services and once I'd analysed his position his net total asset wealth was a modest £200k. He was nearing retirement and had basically lived well beyond his means.

Someone did a survey a while back on who washed their cars on a Sunday. Apparently it was nothing to do with how dirty the car was but all about letting the neighbours see your new car. Except when it came to people who worked in something creative their cars were not new and didn't tend to get washed. They reckoned that the creative people had their status in what they created rather than what they bought.

chucknorris

Cakeguts wrote: »

Someone did a survey a while back on who washed their cars on a Sunday. Apparently it was nothing to do with how dirty the car was but all about letting the neighbours see your new car. Except when it came to people who worked in something creative their cars were not new and didn't tend to get washed. They reckoned that the creative people had their status in what they created rather than what they bought.

I can't remember the last time I washed my car, I'm not even sure if I ever have, but it certainly wouldn't have been in the last 20 years (if I ever did). Cars get me from a to b, end of story.

ANDR£W

Judging by today's ONS immigration number of 560,000 I wouldn't hold my breathe.

lisyloo

chucknorris wrote: »

I can't remember the last time I washed my car, I'm not even sure if I ever have, but it certainly wouldn't have been in the last 20 years (if I ever did). Cars get me from a to b, end of story.

Mine is over 19 years old and has fungus and cobwebs on it.
I would rather have a decent pension fund (freedom and security).

Thrugelmir

ANDR£W wrote: »

Judging by today's ONS immigration number of 560,000 I wouldn't hold my breathe.

The impact of Brexit will take time to unwind slowly. Not as if people can move elsewhere instantly.

padington

The big effect Brexit will have on immigration will be from the effect of ruining an economy and the consenquntial outcomes that will entail.

Tearing up 40 years of well fought negotiation which brought us from being the poor Man of Europe to the worlds 5th biggest economy is a terrible act of self harm.

economic

padington wrote: »

The big effect Brexit will have on immigration will be from the effect of ruining an economy and the consenquntial outcomes that will entail.

Tearing up 40 years of well fought negotiation which brought us from being the poor Man of Europe to the worlds 5th biggest economy is a terrible act of self harm.

uk used to be the most powerful nation in the world prior to WW1. we didnt need an EU then and we certainly dont need to be part of what looks like a very dodgy and corrupt EU now.

AG47

More property has been added to supply than there is demand for in London, there are so many empty flats now.

All the people who eventually move into the, will be leaving their old places in London empty,

Rents an asking prices continue he to fall