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I can go back to the crash of 1988/9
interest rates 15.5%
Then I can go to the crash of 2007 /8 when my business dropped in value by 50%
and yes I did have sleepless nights
So today I look at worsted case sanrio because it can happen again
and I think we are around the corner of it happening again
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
I fully agree and have been through the same cycles as you. We are on the edge of a recession that's will be long and hard. Many BLT on leverage will be wiped out and they will only have themselves to blame. Also many have not been living in the real world for the last ten years, unrealistic interest rates have caused the explosion in all asset classes and the bubble is bursting.
I don't know about anyone else but I'm having a nightmare trying to buy a place in London.
I would have a Nightmare even thinking of living in London
One mans meat another poison lol
Anything reasonably priced near a tube gets about 10 offers in my neck of the woods. Around the £400k mark is just difficult. We're looking for a decent garden but no luck!
Hi, yes, I can confirm that the outer London Boroughs are quite bouyant at the moment with everything that is correctly priced selling quite quickly.
I have nearly completed my renovation of a property and am quite happy that the house next door just went under offer within a couple of days and the house 2 doors the other way now says sold after about a month. Both are for higher prices than normally seen in the road and certainly would make me happy and my house is now way better than either of them.
Interestingly, the one next door has gone to a BTL landlord and is being sold by owner occupiers.
I am also selling another semi in the same area and have a buyer at £640k. The house was bought for £270k 12 years ago.
Not so sure that all the stories about London crashing are true for the whole of London!
Just sit back and wait, your opportunity will come.
The housing market on its own does’nt crash, it ebbs and flows with the economy in general allied with supply and demand. It needs a big reduction in available capital to force a housing price crash, hence the drops post ‘87 and ‘09. Just as importantly the recovery tends to reveal the areas that were riding the previous boom for no good reason in that they barely recover let alone make additional gains in comparison to the rest of the country.
Think about this one Philip
2019 the lowest un employment since 1974
One of the lowest rate interest which has lasted 10 years
The Property market should be jumping throw hoops
Its not happening some parts of the uK prices are dropping other parts growing slowly and the rest stagnant
will we ever see a booming market again (I think not)
the next 25 years will be very slow indeed