The Mudcat Café TM
Thread #94744   Message #1836488
Posted By: John J
17-Sep-06 - 04:34 AM
Thread Name: BS: House price crash in the UK?
Subject: RE: BS: House price crash in the UK?
Property banks.

Across the road from where I work is a pile of dilapidated properties, nearly all vacant. The new owner of these properties has been snapping up the properties as they became empty over the last 20 years. When I became aware of what he was doing, he was buying properties up at around £20 - 30K, he is still acquiring but he's having to pay £150k for identical properties. The plot is worth millions.

The financial wizards are always saying it's not wise to put all your eggs in one basket (eg Property), but the long term results of investment in property are consistently good. Even if the property market does wobble / dip / crash even, it will soon be on the up.

There aren't many other markets that can give you a return on your investment (letting your property out) whilst the value of the asset (generally) increases.

I hope to hell I'm right, I've kicked my pension contributions into touch and I'm putting the dosh into property.

John