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It's not so much that London property doesn't go down, it's more that there has never been a major correction if you look at a scale that shows the last fifty years.
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if we are lucky london property will see 40% + knocked off.
?!
You think we're going to be lucky if the financial situation is such that the capital sees a 40% decrease in property values? Pretty sure that will coincide with a huge number of us being unemployed with no short term prospect of employment. Not sure I see the silver lining (unless of course you're a foreign investor looking for a long term illiquid asset).
Or did you mean it could be >40%?
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Ok sure bro.
Boris will fix it.
Stonehedge
hugo7
jv
@8b
What a lot of people don't seem to get is we are at the end of a major financial cycle and over the next 5/10 years we will be entering a reflation cycle. Yes there will be some major printing but we will also see a period of high interest rates that will financially kill a lot of recent london property buyers. Value will be wiped out across many of the current bubbles and if we are lucky london property will see 40% + knocked off.
A few months back friends laughed at me when I suggested London property doesn't always go up. Now they are all onboard. I also have direct friends who have been made redundant, I haven't seen this since 2007.