do we have the ingredients in your opinion to have this long awaited housing price readjustment yet? ..... still looking at houses to buy here!... latest one we offered 18K lower than asking (which was declined)...but estate agents are that keen to sell that they have persistently rung back telling us what would be accepted! (which is 14k lower than asking price)
There was an imbecile on the BBC news a few weeks back going on smugly about how he had accumulated £8m worth of property and if he could do it anyone could do it.
Only at the very end of the piece did he let slip that he has £5m morgages secured on these properties.
£8m...£5m...is he about to go sub prime?My own feeling (while we wait for Tumbleweed) is that desirable areas will remain desirable and there will always be people trading down from yet more desirable areas who will pay a premium to move there. The places where the crash will occur are:
1) New areas - docklands and the like - where "valuation" meant "pick a figure and double it". 2) Places which are expensive because they are *near* to desiarable areas but which are not inherently desirable.
There was an imbecile on the BBC news a few weeks back going on smugly about how he had accumulated 8m worth of property and if he could do it anyone could do it.
Only at the very end of the piece did he let slip that he has 5m morgages secured on these properties.
8m...5m...is he about to go sub prime?My own feeling (while we wait for Tumbleweed) is that desirable areas will remain desirable and there will always be people trading down from yet more desirable areas who will pay a premium to move there. The places where the crash will occur are:
1) New areas - docklands and the like - where "valuation" meant "pick a figure and double it". 2) Places which are expensive because they are *near* to desiarable areas but which are not inherently desirable.thats me in trouble in north lincolnshire then! lol
Your area previously known as South Hull is now North Hampstead...
...except a bijou "flat" means just 20 acres of mud.
Tumbleweed must be out pissing it up in Tesco champagne with the lah- de-dah gentry...
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