The bin Ladens are coming back!
Aug 6th 2012 | 7:01 am
#16
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Re: The bin Ladens are coming back!
I think the quote is "land" is always safe - they're not making it any more - rather than property.
Aug 6th 2012 | 9:22 am
#17
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From: On Top of the World
Re: The bin Ladens are coming back!
However it's something I've always believed in and practised to advantage.
Another from the same guy,
I was seldom able to see an opportunity until it had ceased to be one.
and another from him,
Twenty years from now you will be more disappointed by the things you didn't do than by the things you did.
All Food for thought in the present circumstances.
I could add,.....fortune favours the brave,...but unfortunately not always.
Aug 6th 2012 | 9:29 pm
#18
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Re: The bin Ladens are coming back!
I'd agree to a certain extent but in most Western countries having a house (or the right to build one) is usually best if your looking to grow an investment.......no matter how slowly.
Aug 6th 2012 | 9:35 pm
#19
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Re: The bin Ladens are coming back!
This is absolute nonsense, it is a paradigm spouted by baby boomers who had the luck to be around during the WWII population increase, in the UK
Japan has had no growth in property values since their boom in the 1980s. That boom and crash is pretty similar to what we are currently seeing in Europe
I have just sold my property in London because I cant see any real growth in the next 20 years.
Without capital growth, property is just a liability, even if you can get a good rental return, you will still be liable to service the maintenance costs and taxes whether you live in it or not - and whether you have a rental income or not
Saying that, I have my eyes open in Spain, if property drops another 30% from peak (so looking at prices at around 35% of 2007 levels) then I may buy, but only if it is somewhere I want to live in for the next 10 years or so. Not as an investment
Japan has had no growth in property values since their boom in the 1980s. That boom and crash is pretty similar to what we are currently seeing in Europe
I have just sold my property in London because I cant see any real growth in the next 20 years.
Without capital growth, property is just a liability, even if you can get a good rental return, you will still be liable to service the maintenance costs and taxes whether you live in it or not - and whether you have a rental income or not
Saying that, I have my eyes open in Spain, if property drops another 30% from peak (so looking at prices at around 35% of 2007 levels) then I may buy, but only if it is somewhere I want to live in for the next 10 years or so. Not as an investment
Aug 6th 2012 | 9:59 pm
#20
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Re: The bin Ladens are coming back!
Found this chart on another forum.
Just hope you didn't see Japanese housing as a safe haven back in the early 90s.
Just hope you didn't see Japanese housing as a safe haven back in the early 90s.
Aug 6th 2012 | 10:05 pm
#21
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Re: The bin Ladens are coming back!
Just hope you didn't put the proceeds of you sale into currency or shares.As for Japan I'm sure you could find other countries in the developed world where this is true but for the majority property will always rise in price at varying rates.And if you know of a safer haven I'd be happy if you'd let me know.
Aug 6th 2012 | 11:52 pm
#22
On the road again.
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From: On Top of the World
Aug 7th 2012 | 12:46 am
#25
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Re: The bin Ladens are coming back!
The Icelandic banks werent covered by that guarentee as they werent in the EU
Aug 7th 2012 | 1:10 am
#26
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Re: The bin Ladens are coming back!
Aug 7th 2012 | 3:16 am
#28
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Re: The bin Ladens are coming back!
God I'm glad I wasn't Japanese back in the 90s........but seriously you can't build an argument on one country.Looking at the UK would make the point from the other perspective,in the early 90s high interest rates and neg equity gave birth to the late 90s boom.And if your telling me my mid 90s £12k apartment in Spain was a bad investment.............
Aug 7th 2012 | 4:11 am
#29
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Re: The bin Ladens are coming back!
Of course it was a good investment. I know a few who did well then because of the following boom. However I think this time it is different. I wouldn't invest in any property right now in any country...except the UK. I think it is a time to batten down the hatches and wait and see.
Aug 7th 2012 | 4:16 am
#30
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Re: The bin Ladens are coming back!
God I'm glad I wasn't Japanese back in the 90s........but seriously you can't build an argument on one country.Looking at the UK would make the point from the other perspective,in the early 90s high interest rates and neg equity gave birth to the late 90s boom.And if your telling me my mid 90s £12k apartment in Spain was a bad investment.............
But think about this..how much was the average salary in the UK/Spain in the mid 90s compared to the average house price
And what is that relationship now?
That tells you all you need to know.
