Prices in Singapore and Malaysia fell from the 2008 peak to about 70%. Then they stagnated until recently,, creeping up to about 80% of the peak in the last 12 months.Sure, house prices could easily drop 25%, which would only take us back to pre covid levels
Yes, no doubt. I had a surreal experience today. Visiting some friends and the driveways really were like keeping up with the Jones. New Defenders, Cayennes, Taycans, Boxters, Range Rovers, Mercs, Beemers, the lot. All under 3 years old. Now, these houses are £350 - £400K. A chunk of change, yes, however, some had £150K+ of vehicles on the drive, many had £100K+. You just know they’re not bought and paid for and even if a lease makes more sense, probably wouldn’t have cash cover for the rentals if their jobs went south. Debt is the only way these expensive cars are sat there. I was probably looked down upon as I drove in with my cheap Subaru.
It’s funny how these people look down on you. I find the same thing. I actually find it amusing watching people trying to be something they’re not.
Yes, no doubt. I had a surreal experience today. Visiting some friends and the driveways really were like keeping up with the Jones. New Defenders, Cayennes, Taycans, Boxters, Range Rovers, Mercs, Beemers, the lot. All under 3 years old. Now, these houses are £350 - £400K. A chunk of change, yes, however, some had £150K+ of vehicles on the drive, many had £100K+. You just know they’re not bought and paid for and even if a lease makes more sense, probably wouldn’t have cash cover for the rentals if their jobs went south. Debt is the only way these expensive cars are sat there. I was probably looked down upon as I drove in with my cheap Subaru.
It’s funny how these people look down on you. I find the same thing. I actually find it amusing watching people trying to be something they’re not.
Knee deep in Range Rovers and Porkers in our street. On sunny weekends the vintage E-Types and Astons come out the garages. I've no idea as to the finances of their owners but with detached houses in the street averaging over £4m now* I suspect some of them have rather deep pockets.
* I should point out we live in a flat that probably wouldn't cover some of the contents of some of the garages ;-)
Yeah, that whole scene needs rinsing out...
Thing is, I think the Fed and other Central banks will do a U turn later this year and start lowering interest rates again. Otherwise, it'll be a shit show
You think it will be as soon as that?
I thought historically they didn't start lowering them until inflation was under control.
Yes, no doubt. I had a surreal experience today. Visiting some friends and the driveways really were like keeping up with the Jones. New Defenders, Cayennes, Taycans, Boxters, Range Rovers, Mercs, Beemers, the lot. All under 3 years old. Now, these houses are £350 - £400K. A chunk of change, yes, however, some had £150K+ of vehicles on the drive, many had £100K+. You just know they’re not bought and paid for and even if a lease makes more sense, probably wouldn’t have cash cover for the rentals if their jobs went south. Debt is the only way these expensive cars are sat there. I was probably looked down upon as I drove in with my cheap Subaru.
In our road it's mostly Volvos and Audis, though the bloke in the big house at the end of the road must have fallen on hard times, as he's got rid of one of his Aston Martins.Yes, no doubt. I had a surreal experience today. Visiting some friends and the driveways really were like keeping up with the Jones. New Defenders, Cayennes, Taycans, Boxters, Range Rovers, Mercs, Beemers, the lot. All under 3 years old. Now, these houses are £350 - £400K. A chunk of change, yes, however, some had £150K+ of vehicles on the drive, many had £100K+. You just know they’re not bought and paid for and even if a lease makes more sense, probably wouldn’t have cash cover for the rentals if their jobs went south. Debt is the only way these expensive cars are sat there. I was probably looked down upon as I drove in with my cheap Subaru.
I assumed you're much better off renting expensive cars because if it all goes south you can just hand them back and aren't left with a £100k+ millstone around your neck. Plus that money you've saved from buying it outright would be better off invested anyway, I thought all expensive cars were financed to some degree for this reason.
We're slumming it with a VW Polo, and our next-door neighbour has a beat-up Citroen. The posher cars are at the two ends of the road, for some reason, with a cluster of Volvos, all new or nearly new, down one end.