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Falling rents?

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Tuesday 14 October 2008 9.58am
So do you consider that prices of art have gone up because museums have been hogging all the best stuff and not letting the man in the street have a fair crack at it?

BTL, self-cert and 125% mortgages are pretty much immaterial. We have seen an asset-price bubble fuelled by Alan Greenspan and Gordon Brown's lax monetary policy: oil, copper, gold, houses, fine wine, classic cars, art etc. etc. have all appreciated well ahead of RPI/CPI/Wage inflation, and we shall see this bubble deflate/pop over the next few years.
Tuesday 14 October 2008 10.22am
As you'll see from my previous post, I agree with you that lax credit has driven up house prices beyond most people's comfortable reach. The rise in dinner party landlordism is just a result of that general credit expansion.

What bugs me is the horrible, smugness of the property rampers, who for the past five years have made those of us who rent feel like second class citizens, just because we refused to get swept up in the financial euphoria of the property ramping herds.

Fine wine, classic cars and art aren't essentials, but housing is. It makes me SO ANGRY that everyone, including our supposedly Labour prime minister, thinks it's a good thing for society for property prices to rise way beyond affordable levels.
Tuesday 14 October 2008 3.38pm
Beowulf wrote:
Fine wine, classic cars and art aren't essentials, but housing is.

Quite. I'll also hazard a guess that there isn't a single person on this thread who is deprived of housing.

Beowulf wrote:
It makes me SO ANGRY that Gordon Brown thinks that high house prices is a good thing

I think that's very unfair, for he doesn't. In his first ever budget speech he said

Quote:
“I will not allow house prices to get out of control and put at risk the sustainability of the future”.
He went on to say that he did not want a return to ”instability, speculation and negative equity” of the 1980's and 1990's.
Wednesday 5 November 2008 6.45pm
The Mapmaker wrote:

I think that's very unfair, for he doesn't. In his first ever budget speech he said

Quote:
“I will not allow house prices to get out of control and put at risk the sustainability of the future”.
He went on to say that he did not want a return to ”instability, speculation and negative equity” of the 1980's and 1990's.

There it is, again, Mapmaker - your wonderful sense of irony. I think it's great that you can have such a sense of humour in these dangerously unstable times that have resulted from the biggest speculative bubble in history. I can only assume you're not one of the millions that are expected to go into negative equity in the next few years.
Thursday 6 November 2008 5.21pm
I bet, Beowolf, that you're a little old lady in your seventies, wearing bright purple, and writing letters in green fountain-pen ink, underlining all the important bits - probably every word. ;)


Seriously, did I miss something. Did I misquote our glorious leader?
Thursday 6 November 2008 5.33pm
Mapmaker, you are scaring me, which is not a nice thing to do to little old ladies. How did you know about the bright purple clothes and the green fountain-pen?

The last person to postulate about my identity on this forum had me down as an alpha male.

By the way, young man, it is Beowulf, not Beowolf! Have some respect for your elders!
Tuesday 18 November 2008 10.57am
http://news.bbc.co.uk/1/hi/business/7733245.stm

"A glut of unsold homes has flooded the rental market, driving down rents at the fastest rate on record..... "

...if you press it, they will come.
Tuesday 18 November 2008 11.09am
Thanks, Ivanhoe. Anecdotally, a recent surf of Rightmove did, indeed, suggest that rental prices are finally falling (sale prices too).

It's definitely a good time to strike a deal, especially in SE1 which has a glut of buy-to-let new builds (if you don't mind living somewhere with cardboard walls).
Tuesday 18 November 2008 1.36pm
Yes, it's funny that our managing agents (after being extremely aggressive when threatening v high rent raises earlier this year) have now gone silent and we've not heard from them for two or three months.

...if you press it, they will come.
Wednesday 26 November 2008 12.15pm
The Mapmaker wrote:
Ivanhoe wrote:
Down with the house-hoarders!!! B*gger the BTL-ers

I really don't understand this one. Home ownership as a proportion of the population in the last year or so was the highest it has ever been.
Hi everyone iam new to this but just wanted to say a few things, ive lived in waterloo all my life.I lived on the tanswell estate up until i was 20 then moved to kensington 4 3 yrs after having 2 kids moved back to waterloo stamford st,,i have a 2bed in a victorian house,in 2005 i bought my flat of the council 182.000 thinking i was doing the right thing ,, i love waterloo but have seen alot of things change as in every area, my kids became victims in robberys and asults i have since moved to southgate and rent the flat out bcs couldnt afford reypaymants, what do i do sell or hang on and ride the storm,,
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