London Property Boom: Is it Smoke and Mirrors?
L ondon property market is on the up, just ask any economist. London being an international hub for trade & commerce is the reason for it and we as a nation benefit from it.

London property market is on the up, just ask any economist. London being an international hub for trade & commerce is the reason for it and we as a nation benefit from it.

There is a downside which is international investors are pricing many Londoners out of the market. International investors are just that, investors. Any Londoner who is taking a long term view and is looking to remain here should not view their property as an investment but a home. It is an asset but it should not be viewed as the kind of asset that you sell from which you rely on the profit.

In days past the family home was for the children, something to leave them. In recent years many people have been trading up solely by making improvements and selling on at a profit. It has its merits but it exposes you to the pitfalls, unless your 'business' is to be mortgage free. The business of living your life to a degree where you live well enough sustainably, not speculatively.

Avoid speculating, avoid risking your home and avoid paying a mortgage you cannot sustain without speculation. Manage your income to cover your outgoings and save more. Sounds like a lecture but is it stating the obvious?

The last six years have been tough on many, although many have weathered the storm; many have suffered financially and lost out. Those that lost out its debatable to suggest, were leveraged unsustainably. Many many's and too few few's. In other words, trying to play the big picture and not noticing the detail.

There is lots of talk and analysis of the macro economic climate, which many of us have no real understanding. We do live in a global city, but it could be in another country because the profits do not all stay within this city.

Our government pays in the region of £100,000,000 a day in interest alone, on debt. Shouldn't remember how tough it was during the war years and take a leaf out of our forbears books and put away a bit for a rainy day?

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