Work starts on the eagerly awaited new Foxtons office on Brixton Road
- Thread starter editor
- Start date
leanderman
Street Party: July 2
This last weekend? What about?
ddraig
kicking against the pricks...
CH1
"Red Guard"(NLYL)
suspended when I looked?
leanderman
Street Party: July 2
It's a Ponzi scheme.
passivejoe
Well-Known Member
http://www.reuters.com/video/2014/0...next-propert?videoId=276319303&videoChannel=5
Neither Vibrant of Edgy used. Just a bit out of date.
Neither Vibrant of Edgy used. Just a bit out of date.
equationgirl
Respect my existence or expect my resistance
I think you should take the sign down and stick it next to their shop somehow.
passivejoe
Well-Known Member
leanderman
Street Party: July 2
School cashment.
But there is no sign of this madness ending.
Imagine what you could buy outside London for £650,000 - instead of this two-bed flat in Brixton.
leanderman
Street Party: July 2
Ideally. But I wouldn't bet on it.
Winot
I wholeheartedley agree with your viewpoint
It's pretty much just a London bubble though, isn't it? And one that is inflated by those who have not been affected by the recession.
ffsear
Well-Known Member
Its just a London bubble yes. I'm just questioning if its sustainable. I don't think it is and I think the rental market will lead the way down.
The buy to letters will have a choice to make when interest rates go up. Cash in, or put rents up. But how far can rents be pushed up? Given that we have a generation of 20's/30's somethings, university educated who earn upwards of £35k (the types not affected by the recession) spending almost half if not more of their salaries on rent already.I think once the buy to letters see their margins cut, the cashing in option will seem much brighter, given the cost of maintaining such properties (my landlords just today forked out £1k on a new boiler). The media will be all over it, enter the hysteria and the madness of crowd mentality and sellers flood the market.
This is what I wish.
The buy to letters will have a choice to make when interest rates go up. Cash in, or put rents up. But how far can rents be pushed up? Given that we have a generation of 20's/30's somethings, university educated who earn upwards of £35k (the types not affected by the recession) spending almost half if not more of their salaries on rent already.I think once the buy to letters see their margins cut, the cashing in option will seem much brighter, given the cost of maintaining such properties (my landlords just today forked out £1k on a new boiler). The media will be all over it, enter the hysteria and the madness of crowd mentality and sellers flood the market.
This is what I wish.
Rushy
basically a scrotum
But there is scope for banks to cushion interest rate increases to an extent. Before the crash banks were happy lending on a 1% margin over base for commercial deals like buy to let - or even less. When rates went down, mortgages did not go down the same amount unless you were on a base rate tracker. Loads of banks stopped lending and those which did not filled the void by increasing their margins, rather than passing on the falls. Now buy to let margins are commonly 4% or more over base. I'm sure they'd rather not reduce margins but competition (more lenders getting into the market) and a reducing demand (if rates go up) could push them down.
leanderman
Street Party: July 2
Absolutely: mortgage rate margins are massive right now.
Base plus say 4 per cent.
I don't think that will happen when base is at 4 per cent.
If it does, I lose my home!
If I had a penny for every time I've heard similar sentiments about London property prices since forever, I'd be rich.... Every time I've agreed and thought, this time people will see sense. Briefly, in the early 90s, when Lamont burst the Lawson bubble caused by the removal of multiple mortgage interest tax relief, we did have some falling property prices and a few people might have been in negative equity for a couple of months. But otherwise prices have done what the fuckers from foxtons always say they will.
But it is nuts now. It's what's fuelling the so-called growth in the economy, people with property imagine they're rich and spend more. But it's the same old smack that's numbed us to the truth about the British economy since it was dismantled in the 1980s. Four clucking years of Osborne and instead of getting clean we're back on the shit. This isn't a recovery it's a relapse.
ViolentPanda
Hardly getting over it.
It's probably at its worst in London (although I suspect folk in the West Country might argue the toss), but the bubble is inflating just about anywhere within a 2 hour commuting distance of London, which is a pretty wide circle that goes way beyond the traditional image of the Home Counties as the farthest reach of London's dormitories.
ViolentPanda
Hardly getting over it.
I was saying elsewhere on the board a few days ago, that in terms of the bursting of the London house price bubble, the worst that's happened in my lifetime is around a 20% drop ('92 or '93, I think). Most other events have been a 10% or less drop, or simply just a plateau, where prices have stagnated for at most a year.
Well, house price inflation is part of what's fueling growth. The other significant component is non-mortgage personal debt. Not production of anything, just debt.
leanderman
Street Party: July 2
Prices dropped 25 per cent in London at the height of the financial meltdown in 2008/9.
But this situation lasted only a few months, before being reversed by ultra low interest rates.
My sister-in-law was lucky enough to buy in this sweet spot.
editor
hiraethified
I see those scumbags at Foxtons have taken to nailing up their For Sale signs on the public footpath outside the Barrier Block.
The earlier storm had already half knocked it over so it was blocking the path for residents, and I can only assume that a later gust must have pulled it completely free from its fastenings and sent it flying right into the dustbin area.
The earlier storm had already half knocked it over so it was blocking the path for residents, and I can only assume that a later gust must have pulled it completely free from its fastenings and sent it flying right into the dustbin area.
cuppa tee
Well-Known Member
that mini hurricane also took out a large section of hoarding around the oval quarter development, it's currently lying across the road, looks like it was weighted down at the back with about 30 paving slabs tooI see those scumbags at Foxtons have taken to nailing up their For Sale signs on the public footpath outside the Barrier Block.
The earlier storm had already half knocked it over so it was blocking the path for residents, and I can only assume that a later gust must have pulled it completely free from its fastenings and sent it flying right into the dustbin area.
View attachment 47207
BigMoaner
What A Load of Old Bollocks
our flat has doubled in price in 6 years.
i've had a few estate agents tell me that the "market is at reaching its peak" now, though. although i honestly now, after months of dealing with them, can't believe a word they say.
2 bedroom property for 700k. Fucking crazy and more importantly disgusting.
Monkeygrinder's Organ
Dodgy geezer swilling vapid lager
Heh.
Similar threads
