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| The UK housing market: a bubble about to burst? |
Rocketing House Prices
by Pensioner Houseowner
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#1000175
of 3278
 29 Jul 2002
12:48 PM |
| One might consider as Pensioner rising house prices is to my advantage. True, but what if the bubble truly bursts! But seriously, we must consider the young in our society, for them the situation is just crazy. My proposed solution is a house owner is not allowed by law to sell his property, residential or otherwise for profit for 5 years. This restriction will stop the spiral. An Englishmans home should be his Castle for at least 5 years. gdipak@hotmail.com |
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Housing bubble!!!
by Tint
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#1000174
of 3278
29 Jul 2002
10:33 AM |
| It is a sad fact of modern life, while supply is less than demand prices will always go up driven by greed. When the greed has driven things out of the reach of the neady the demand naturally dries up. Then supply starts to exceed demand, at this point prices will fall, how far nobody knows, it just depends on the panic of the greedy not want to lose to much, as and when your guess is as good as mine, all I know is it will happen, not just yet but soon. Those whom are found to be greedy are the ones who get hurt the most. With every up there is generally an equal down. |
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Housing Bubble?
by Good thing
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#1000173
of 3278
29 Jul 2002
09:51 AM |
The buy to let market has fallen, rental levels in London have dropped, as soon as investors realise that they can not afford the investment mortgage with the rent or lack of rent that they will recieve - they will sell - and it will happen collectively and this will be the point that London will see a drop in values - as home owners will be competing with fire sales from investors and it will push values down. The only problem with London is supple and demand - there is a lack of supply so this could prevent the fall from being as significant as it was in the early 90's. Good luck and stay in cash or Govt bonds for the next 18 months and then dive into the property market and pick up a steal from some greedy but to let investor is is ideally 23 - 30 y/o and inexperienced with
property market swings. |
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US Housing Market
by AndrewP
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#1000172
of 3278
28 Jul 2002
02:38 PM |
I don't know about the UK, but I suspect the housing market is about to crack in the US (Washington DC area). In the spring I saw no "for sale" signs in my neighborhood. That's right - none. About 2 months ago, signs started to appear, but the houses sold quickly (within a week). Today the houses don't seem to sell as quickly, but they are still selling. It all depends on the unemployment, which has continued to rise slowly all year. If unemployment continues to rise, people will be forced to relocate and to sell for whatever the property will get on the market, or to rent it out.
I visited the UK on a tour a month ago, and the housing market is hot there also. So watch the unemployment numbers and the "for sale" signs. That will tell you where the market is going. |
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"I want a home" ... Well done and congratulations.....
by Shareholder
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#1000171
of 3278
25 Jul 2002
01:51 PM |
Take no notice of my jibes....
You have done the right thing...my only advice is do not overstretch yourself financialy, remember pay cheques are not guaranteed.
Good luck and all the best in your new home. Remember decorating and DIY can be very therapeutic after a stressful day at work. Also very rewarding in satisfaction and future value.
Good luck and I wish you all the best of luck in the world! |
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I've gone ahead and got my home
by I want a home
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#1000170
of 3278
25 Jul 2002
01:17 PM |
| But I still think I'll take the girlfriend up on that one day... |
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Hear hear "no one knows"
by Shareholder
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#1000169
of 3278
25 Jul 2002
09:38 AM |
You echo my advice.....
"I want a home".....I have been made redundant 3/4 times, so I understand the misery of losing my income, when you have kids it is far worse. They still want holidays and bikes etc.
You have to experience it to uderstand it.
I have also been a landlord and believe me it is just not worth the worry and stress, the tenant gets the best deal.
Buy within your means, remember we are all as secure as next weeks or next months pay slip.
Live somewhere pleasant and less stressful than London, then I am bias because I hate London. I dread going there and would hate to have to live there.
Then again I do understand that people like the areas they are used to and want to be near their families.
The trouble is Londoners think nowhere else exists in the UK, they are selfish in wanting all the developments.
London is not representative of the UK. There are some far better places to live and WORK. |
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re: i want a house
by no one knows
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#1000168
of 3278
25 Jul 2002
08:59 AM |
| I think you should buy out of London, have a better standard of living, commute to your well paid job and get married to your girlfriend and enjoy life. |
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I'm not getting a home
by I want a home
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#1000167
of 3278
25 Jul 2002
08:39 AM |
Shareholder - you should be more worried about your shareholdings!
How much impact will the recent financial markets volatility have on unemployment in this country?
If interest rates stay low and demand for proerty remains high as all indications point to, then I believe I am still safe. |
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PS "I want a home"
by Shareholder
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#1000166
of 3278
24 Jul 2002
04:54 PM |
By the way claim the rent when you are not entiteled to it, have it paid straight to the landlord.
Then when they find out , the landlord will have to repay it. When you are long since gone.
I know landlords it has happened to.
Life just isn't fair! |
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PS "I want a home"
by Shareholder
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#1000165
of 3278
24 Jul 2002
04:05 PM |
PS When you are outof work, the DSS will pay the rent for you, but they will not pay your mortgage.
Another suggestion is to ask the Queen if you can rent an apartment in Kensington palace for £70pw. The neighbours are quite well off.
OR, Ask John Prescott if the RMT have any more free flats spare.
Then again you can always kip in the Dome, they gave that away, sorry paid someone to take it. |
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Ambition
by Shareholder
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#1000164
of 3278
24 Jul 2002
03:59 PM |
"I want a home"....If you are ambitious you can always buy more cardboard boxes and add extensions as your family grows!
As for puts in housing and hedging your bets, stay in rented accomodation and let the landlords take the risk and do the repairs and pay the upkeep bills.
Then buy a nice cottage, holiday home or even caravan in the country.
OR even a nice apartment in Spain for 40/50,000. You can do a lot of traveling for the 150,000 you save and get interest on. Do not invest in shares, never learn how to sign your name, forget about reading the financial pages. |
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Message for "I want a home"
by Shareholder
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#1000163
of 3278
24 Jul 2002
03:48 PM |
Well I think if the markets go on down that Cardboard boxes will be at a premium in the great city of London.
I should get one now before they become in short supply!
Sorry to be so pesimistic! |
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Property options?
by I want a home
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#1000162
of 3278
24 Jul 2002
03:42 PM |
Thank you for all the advice, and opinions on london quality of life.
Is it possible to buy 'put' options in property so that I can hedge my bets?! |
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To: Help - The tactics to use
by Heidi
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#1000161
of 3278
24 Jul 2002
02:54 PM |
You really shouldn't buy now, as stocks have fallen so much, property is SURE to follow, and gold too, in fact any stores of wealth - it's a knock-on effect.
That place you want to buy: revise your offer, say, 20% downwards and see what happens. My guess is that the property collapse has started but of course nobody is going to say so in the media - it'll cause panic.
The only way you can really find out is to take a look at some other apartments too and
deduct 20% from their prices too, when you start talking about price.
If you can - wait; the property crash is still to come. Imo, there will be a big exodus from the London area, as US firms in every sector you can think of (maybe except soap and coke)will slash staff and send Murkans home. |
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