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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Les H who wrote (79098)6/9/2007 5:00:16 AM
From: Dale BakerRead Replies (1) of 306849
 
UK housing - I spent a week looking at prices in some choice areas in southwestern England; they are very frothy, sustainable only because buyers are selling residences for inflated profits and rolling into new places in a country with a relative shortage if mid- to high-end residences.

But with prices comparable to US bubble areas, it makes no sense to own there when you can rent for a fraction of the real costs of ownership. If I wanted to settle there anywhere, I would definitely rent and wait for the market to soften. If it never does, renting a place for $2K a month is still preferable to paying $700-800K plus running costs.
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