Is a property market crash coming? And if so would it affect liveaboards?

lisyloo

Finchy2018 wrote: »

Lisyloo - London is full of them...

If you find one with a residential mooring (which aren't always transferrable) the boat it's self will have a huge premium attached to it.

No it’s not Absolutely busting with boats all the way along the Thames and good thing too.

I agree that supply is limited and therefore premiums are paid so doesn’t solve the Affordsbility issue.
The trade offs for to make are size, location or lack of desireability of area.

But have seen OP isn’t talking about central London so could be entirely different.

Going back to the original question if there is a crash in residential property and this is a genuine alternative then I can’t see why it wouldn’t be affected.

Many of us don’t believe there will be a crash. There may be a correction but it might still be better to buy rather than rent.
I bought 1991 and prices fell. Long term I don’t regret buying.

Finchy2018

KiraLB wrote: »

Why did you give up. What type of boat did you live on? We/re looking into a barge. It is difficult to find mooring for it if you're cc'ing but many people on London Boaters said we'll survive. I'd still prefer to find a residential on the non-tidal Thames.

And yes it's a lifestyle choce, my husband used to live on the canals so we have a certain amount of experience and we'd like to go it a try. Still if it does not go all right we need to change and get back to land. Thus the question above - to know if we can sell it OKish if worst come.

Honestly, it was stressful. It was hard. I loved it, and don't regret it and we did it for the lifestyle not to save money. It was fun while it lasted but was never going to be forever.
I prefer bricks and mortar, not worrying about gas running out or the loo needing to be emptied, it's just more convenient.

KiraLB

Finchy2018 wrote: »

Honestly, it was stressful. It was hard. I loved it, and don't regret it and we did it for the lifestyle not to save money. It was fun while it lasted but was never going to be forever.
I prefer bricks and mortar, not worrying about gas running out or the loo needing to be emptied, it's just more convenient.

Similar here; to try the lifestyle and experience it. I don't see it to last forever either.

Crashy_Time

lisyloo wrote: »

No it’s not Absolutely busting with boats all the way along the Thames and good thing too.

I agree that supply is limited and therefore premiums are paid so doesn’t solve the Affordsbility issue.
The trade offs for to make are size, location or lack of desireability of area.

But have seen OP isn’t talking about central London so could be entirely different.

Going back to the original question if there is a crash in residential property and this is a genuine alternative then I can’t see why it wouldn’t be affected.

Many of us don’t believe there will be a crash. There may be a correction but it might still be better to buy rather than rent.
I bought 1991 and prices fell. Long term I don’t regret buying.

The demographic, economic and credit conditions now are not comparable, this is the biggest property bubble in history and isn`t sustainable.

lisyloo

Crashy_Time wrote: »

The demographic, economic and credit conditions now are not comparable, this is the biggest property bubble in history and isn`t sustainable.

Agree about demographics there is much more demand now due to population increase.

You won’t get a sensible answer about the prospect for house prices - no one knows, but if boats are a viable alternative to bricks and mortar then I’d would say they’d be affected by the same issues in addition to other issues particular to the waterways.

I can’t see why high house prices are sustainable, perhaps crashy can tell us why it isn’t sustainable with net migration of 1/3rd million each year.

Crashy_Time

lisyloo wrote: »

Agree about demographics there is much more demand now due to population increase.

You won’t get a sensible answer about the prospect for house prices - no one knows, but if boats are a viable alternative to bricks and mortar then I’d would say they’d be affected by the same issues in addition to other issues particular to the waterways.

I can’t see why high house prices are sustainable, perhaps crashy can tell us why it isn’t sustainable with net migration of 1/3rd million each year.

Neither could the central banks when they made the biggest intervention in history to save the debt bubble (and still couldn`t get much inflation going) It is appetite for borrowing and credit availability/price that decides house prices, plus general property sentiment, not numbers of people, and let`s face it the numbers of people coming here have already caused quite a lot of political upheaval, are you really going to bet 300 or 500 or maybe 700k`s worth of debt (Not really the same burden in the 90`s was it?) on a property holding it`s price or going up based on projected numbers coming here?

lisyloo

Crashy_Time wrote: »

Neither could the central banks when they made the biggest intervention in history to save the debt bubble (and still couldn`t get much inflation going) It is appetite for borrowing and credit availability/price that decides house prices, plus general property sentiment, not numbers of people, and let`s face it the numbers of people coming here have already caused quite a lot of political upheaval, are you really going to bet 300 or 500 or maybe 700k`s worth of debt (Not really the same burden in the 90`s was it?) on a property holding it`s price or going up based on projected numbers coming here?

Not intereted in investment or capital gains but for buying a HOME, buying is batter than renting.
Ignoring short term movements after youve paid off the mortgage you own the property which means you have a valuable asset plus you never need to pay rent again,
For most people this is essential if they want a decent retirment.
It doesn’t matter if the property has gone down a bit (exceptionally unlikely over 25 years), you have an asset and need pay no more rent.
Apart from the economically mobile it’s a no brainer.

There are more sad cases than success stories of trying to time the market and don’t forget that women need to start making babies before 35 if they don’t want to pay a fortune fo IVF etc.

Murphybear

Cakeguts wrote: »

Boats need a lot of maintenance. They aren't necessarily cheaper than buying a house because of the levels of maintenance.

My first husband and I nearly bought a houseboat, it was a converted trawler moored on the lower Thames.

We didn’t in the end for the following reasons:

It wasn’t mortgageable, we had to get a specialist loan with very high interest

Mooring fees were high

We were advised that the value of the boat would likely go down, not up

Insurance for the boat and contents would be much higher than those for a house

Finally his sister said (slightly tongue in cheek) that if the boat sank we’d have nowhere to live :rotfl:

This was back in the 1970s, buying a flat was difficult back then, I don’t suppose buying a boat would be any easier now.

AG47

Boat prices shots up long with house prices in the boom, they will both suffer the same in the next bust.

Whenever that is,

It is absurd to listen to the perma prop bulls who deny there will ever be a housing bust ever again.

phillw

Crashy_Time wrote: »

The demographic, economic and credit conditions now are not comparable, this is the biggest property bubble in history and isn`t sustainable.

You can only tell if you were in a bubble after it burst. The estimate is that the UK property market is over valued by 12%, that is certainly sustainable.

AG47 wrote: »

It is absurd to listen to the perma prop bulls who deny there will ever be a housing bust ever again.

There are reasons why it's less likely that we'll ever have another housing crash. Although that isn't to say it's impossible, but there is zero evidence that any future crash will bring house prices below todays value.

If in the future prices rise and fall back to todays value then we'll still have had a crash, so you'd be right to say that there could be a crash, but you won't gain any advantage from it.

I bought just before the last crash and it would have cost me more in interest if I'd waited than what it cost me for the house by buying when I did.