Advice on buying a house (Netherlands, Amsterdam)

[iamback]

Nadeem Walayat is usually correct. Appears buying a house in the UK or getting involved in UK real estate will be sustainable for at least 2 years; whereas, Europe is ready to slide over the cliff as of October.

http://www.marketoracle.co.uk/Article49783.html

[elasticband]

just buy btc man......fuck the bank and there mortgages in an inflated property market.

half the city is laundered money.....

Part of me says yeah this is adult Disneyland for tourists and prices just go up, especially for short term holiday rentals

the other part of me says...... soon, maybe even now given recent articles, the average person cannot afford the house prices here, something has to give.

either its is doomed to be the Venice of the north, where no one stays but everyone visits or prices need to go down, that's rental and buying.

HODL!

Fuck it i'm drunk, what do i know......

[bigtimespaghetti]

Nadeem Walayat is usually correct. Appears buying a house in the UK or getting involved in UK real estate will be sustainable for at least 2 years; whereas, Europe is ready to slide over the cliff as of October.

http://www.marketoracle.co.uk/Article49783.html

Yes, his forecasting is pretty good, especially regarding the UK. He has been advocating property in the UK for a couple of years if I remember rightly.

I will be waiting until October to see what happens probably.

[bigtimespaghetti]

just buy btc man......fuck the bank and there mortgages in an inflated property market.

half the city is laundered money.....

Part of me says yeah this is adult Disneyland for tourists and prices just go up, especially for short term holiday rentals

the other part of me says...... soon, maybe even now given recent articles, the average person cannot afford the house prices here, something has to give.

either its is doomed to be the Venice of the north, where no one stays but everyone visits or prices need to go down, that's rental and buying.

HODL!

Fuck it i'm drunk, what do i know......

I agree, while the UK housing is manipulated up, it is coming to a point where no-one can afford to buy, especially in London. So either I'll be kicking myself in a few years time or I'll be witnessing another bubble pop in the UK and here in Amsterdam.

I have no idea how the average guy could afford anywhere even close to central in Amsterdam.

[LitcoinCollector]

Well, an affordabe option would be Amsterdam-Noord. With the metro line coming in a few years (maybe 10  ) this will be a good investment for the future. IJburg is an option. The centre is always a good investment, but can you afford it. The rent is very for a loan is very low at the moment, so good time to buy!

[bigtimespaghetti]

Well, an affordabe option would be Amsterdam-Noord. With the metro line coming in a few years (maybe 10  ) this will be a good investment for the future. IJburg is an option. The centre is always a good investment, but can you afford it. The rent is very for a loan is very low at the moment, so good time to buy!

Thanks for the input, I didn't know about the metro line being built.

For now I am going to see what the market does. I have not mentioned that my bank has changed the terms of any mortgage I take from them, so it's not as attractive to me to buy a house right now.

[iamback]

...With the metro line coming in a few years (maybe 10  )...

Make that 20 years or more, due to sovereign debt contagion crisis that will impale the EU from 2016 - 2024 at least.

[iamback]

Nadeem Walayat is usually correct. Appears buying a house in the UK or getting involved in UK real estate will be sustainable for at least 2 years; whereas, Europe is ready to slide over the cliff as of October.

http://www.marketoracle.co.uk/Article49783.html

Yes, his forecasting is pretty good, especially regarding the UK. He has been advocating property in the UK for a couple of years if I remember rightly.

Yes he did. And apologies I was thinking the UK would bust with Europe as of October 2015, but now I realize the USA and UK are independent because they (or were) reserve currencies[1] and thus they will get ingress of safe haven seeking capital that is fleeing the collapsing EU, China[2], and Japan in 2016.

[1]

...There are banksters in every nation on earth. For now, they just happen to be concentrated in New York (and lingering in London) for the moment, because that is where the seat of financial (and military) power is held because the USA (and formerly England) holds the world's reserve currency [i.e. they are the current financial capitals of the world].

[2] https://bitcointalk.org/index.php?topic=985481.msg10794406#msg10794406

[bigtimespaghetti]

Nadeem Walayat is usually correct. Appears buying a house in the UK or getting involved in UK real estate will be sustainable for at least 2 years; whereas, Europe is ready to slide over the cliff as of October.

http://www.marketoracle.co.uk/Article49783.html

Yes, his forecasting is pretty good, especially regarding the UK. He has been advocating property in the UK for a couple of years if I remember rightly.

Yes he did. And apologies I was thinking the UK would bust with Europe as of October 2015, but now I realize the USA and UK are independent because they (or were) reserve currencies[1] and thus they will get ingress of capital that is fleeing the collapsing EU, China[2], and Japan in 2016.

[1]

...There are banksters in every nation on earth. For now, they just happen to be concentrated in New York (and lingering in London) for the moment, because that is where the seat of financial (and military) power is held because the USA (and formerly England) holds the world's reserve currency [i.e. they are the current financial capitals of the world].

[2] https://bitcointalk.org/index.php?topic=985481.msg10794406#msg10794406

Perhaps this ingress of capital will be the final impetus for the London property bubble to ultimately top. I've been trying to think of what could cause this outside of young families finally being completely priced out. The UK government seems committed to propping up the property market (understandably so) too.

[LitcoinCollector]

...With the metro line coming in a few years (maybe 10  )...

Make that 20 years or more, due to sovereign debt contagion crisis that will impale the EU from 2016 - 2024 at least.

Perhaps your right, Amsterdam is in a huge dept because of the Noord-Zuid lijn, but my guess would still be within 10 years.

[iamback]

The intertwined finance dominoes will fall...

http://armstrongeconomics.com/2015/03/18/austria-to-default-of-debt-of-10-2-billion-euros/

[dulldog]

I'm thinking of buying a flat in Amsterdam or rather taking a mortgage out more specifically. Mortgage rates are pretty good and if I choose to I will have to invest little of my own money.

Pros:

• It's in a bustling major city
  The market seems to have bottomed and is in a small upswing
  Easy for me to get a good size mortgage
  Rates are very low
  Some tax benefits to owning
  Beats renting
  Can always rent it out fairly easily if I end up having to leave Amsterdam

You forgot to mention coffeshops  

[iamback]

http://armstrongeconomics.com/2015/03/18/state-of-emergency-in-frankfurt-ecb-protests/

State of Emergency in Frankfurt ECB Protests



This entire experiment with the Euro is literally going down in flame.

http://armstrongeconomics.com/2015/03/18/ecb-grand-opening-with-tanks-no-journalists/

ECB Grand Opening with Tanks & No Journalists? Perhaps the strangest opening ever has marked the ECB in Frankfurt, Germany. The opening of the new, paid by the taxpayer office tower of the ECB, is accompanied by tanks and a military force to protect bankers. Whoever ventured on the road to the east of the city since Monday have to believe the Romans were invading and stood before the gates of the city. The ECB was strangely protected with barriers everywhere you looked, which was a reflection of their total lack of faith and disconnect with the people of Europe. Convoys of police vans, water cannons, tanks, heavy clearance equipment and wheeled APC all surrounded the area expecting a Russian invasion of something..For two days, traffic chaos has been at historical highs that may have exceeded the chaos Obama creates when he want to play golf. The ECB appears to have intentionally tried to intimidate the population to suppress protests given the degree of their unpopularity. They spend $1.4 billion for their new tower and protesters still appeared. This has been at odds with German culture for anyone who has been to Germany will notice that there has been a counter-reaction to the image of Hitler – they detest military and police shows. The city of Frankfurt has indeed displayed a longstanding objection to police shows so the strange aspect of this entire affair has been for the police to use this as an excuse to come out of the closet. They seem to have enjoyed the excuse to show force at last if not begging for protesters to bring it one so they can practice how to deal with their dream – training for a state of emergency. The Frankfurt police have indeed come out of the closet. Their scaremongering has led to a military display unseen in Germany with creating an exclusion zone, danger zone, water cannons, airplanes, helicopters and about 8000 troops. All of this to protect bankers. Just amazing. What the hell does this imply? Then, believe it or not, the ECB imposed an exclusion of the press. The ECB has decreed that their opening ceremony news agencies are permitted, but not newspaper journalists. Curious. The newspaper embargo raises the question of exactly what is behind this authoritarian show of force in the heart of Germany?

[bigtimespaghetti]

I'm thinking of buying a flat in Amsterdam or rather taking a mortgage out more specifically. Mortgage rates are pretty good and if I choose to I will have to invest little of my own money.

Pros:

• It's in a bustling major city
  The market seems to have bottomed and is in a small upswing
  Easy for me to get a good size mortgage
  Rates are very low
  Some tax benefits to owning
  Beats renting
  Can always rent it out fairly easily if I end up having to leave Amsterdam

You forgot to mention coffeshops  

I don't smoke. 

[bigtimespaghetti]

http://armstrongeconomics.com/2015/03/18/state-of-emergency-in-frankfurt-ecb-protests/

Yep. This is pretty crazy stuff- commented on a thread about this. The protest seems largely manufactured by hard lefties though. I wouldn't consider it much of a reflection of the general populace.

[TPTB_need_war]

bigtimespaghetti, remember I warned you not to go into the London property market and said it would collapse into October 2015 (before I advised you to take the career change leap to Netherlands which appears to be working out great for you ... I see your new ebook on minting).

The London Property Market is Crashing

Note I was posting as "iamback" upthread. I am the former user AnonyMint.

[bigtimespaghetti]

bigtimespaghetti, remember I warned you not to go into the London property market and said it would collapse into October 2015 (before I advised you to take the career change leap to Netherlands which appears to be working out great for you ... I see your new ebook on minting).

The London Property Market is Crashing

Note I was posting as "iamback" upthread. I am the former user AnonyMint.

hey TPTB! I have been following your many username iterations I've been too busy lately to follow your latest postings though I'm afraid, I'm glad to see that you're still active.

Thanks for the link, UK has been showing all the signs of another bubble, but I haven't been following it too closely.

Yes, things are lovely here in Amsterdam. The job was probably exactly the thing for me, not to mention the adventure and challenge of living in a different country. The book has been a side project for the last year, I'm glad to have it finished!

[freeyourmind]

Amsterdam is one of the nicest cities I've been to, and would love to go back there, even to live for a year or two.

I'd do a quick financial scenario analysis between renting and buying and keep an eye on what's available for sale on the market.

[bigtimespaghetti]

Amsterdam is one of the nicest cities I've been to, and would love to go back there, even to live for a year or two.

I'd do a quick financial scenario analysis between renting and buying and keep an eye on what's available for sale on the market.

I think I'm in a little bit of a middle class bubble here compared to the rest of the Netherlands, despite the crime being highest here compared to the rest of the country I haven't had much trouble, but I am lucky enough to live in the centre right now.

[beaknuke]

what an interesting thread, I also looking at amsterdam and also possibly thinking long term house but haven't started looking at any details yet. I am still a brit in the UK lol