“The thing that is different about this bubble from the last one in 2006/2007 (and I use this word intentionally) is the sheer nervousness out there. Nobody aside from estate agents is actually excited about the rise – people are confused, and some are angry, and most people don’t understand what is happening. There is much more widespread acceptance that this cannot go on, and widespread confusion as to where buyers are actually getting their money from.”
Everyone constantly asks “Why don’t you get a mortgage?” and 99% of the time the people who ask are either those who bought during the early 80s or already own a property. Does no one see the ridiculousness of the current property market in London? Every day there is another article that talks of a looming bubble and the potential for a housing disaster.