vincevincevince - 12:17 am on Dec 2, 2007 (gmt 0)
Do you think property is currently overvalued or undervalued?
Massively overvalued by at least 10-20 times. A 200k flat in London is worth no more than 10k, especially given the awful neighborhood, air quality and cost of living. Unfortunately, if prices were sensible, people would buy multiple houses 'for investment' or 'as a city pad'. Realistically you will only reach fair housing prices if house ownership is rationed in a way that makes it very hard to be a private landlord, be a single guy in a three-bedroom house or to have a second home.