Go on... sell me 2 bed+ flat in East Dulwich for dirt cheap???

[Seabag]

It's not the same now, of course. But I bought and broke the bank back in early 90's, and a few of in-laws savings, friends and credit card companies to do so. I did it as a punt, fudged a few figures *ahem* on a self cert, and all that. But you can't do that now, sadly in some way

It's all locked down by the suits now

[????]

Well we can't have it both ways either "they" do what they want in terms of lending and risk or "we" regulate....

[miga]

O.

[Jeremy]

Not sure about the financial analogy, it's not just a return on an asset - if you take a 90% mortgage, you are 10x leveraged..

[Otta]

I've never heard of "stabby" neighbourhoods.

Does this mean an area where stabbings are common?

Serious question, I've never seen that word before.

[DaveR]

I guess it was a mistype for 'shabby'

I don't think there's any contradiction between saying that people make choices but the consequences of their choices may be largely determined by future factors over which they have no control, and it's particularly apt for the UK/London property market over the last 30 years or so.

But the OP said 'I want a 2 bed flat in ED cheap' because otherwise he'll be renting forever, to which the answer (regardless of the current market situation) is 'go find a two bed flat you can afford - like everyone else has to'. And I'm bound to say that if you can afford to rent in ED you can afford to buy somewhere.

[Otta]

Ahhh, you're probably right.

Boring, I prefer stabby.

[Otta]

"And I'm bound to say that if you can afford to rent in ED you can afford to buy somewhere."

You could certainly afford the mortgage payments, but how are you going to save the deposit?

[miga]

.

[PokerTime]

I think 20 years ago, as now, people just wanted to get onto the property ladder, or to get a home. No-one ever knows how things will turn out.

[MattOliver]

Despite the tongue-in-cheek nature of my original post there is obviously an element of genuine despair with the current London housing market. The issue is certainly saving the necessary deposit and not the monthly

Mortgage payments (although it would be unwise of us to calculate what is an affordable monthly payment based on today's interests rates). Lots of sound advice here though, thanks for taking the time to reply and offer some wordly wisdom everyone! As a self employed music producer and songwriter I may just have to wait for Rihanna to take up my next tune and then I'll be sitting pretty ;) one can dream.

[Jeremy]

A nice little duet for Peter Andre and Kerry Katona to sing on the 2015 Iceland Christmas advert should do the job.

[Otta]

*bob* already has that one covered.