Property crash, just maybe it really is different this time

[Hancock]

Seeing several of these in York, where the sale falls through so they then hike the price.

[leonardratso]

well, youve got to push the boundaries and pay for the wasted time.

 

[spygirl]

9 hours ago, Hancock said:

Seeing several of these in York, where the sale falls through so they then hike the price.

The salewill have fallen thru as the CS andor bank valuator will have laughed them out of the bank.

This is a sign that the Yawk market is now out of reach of the people buying.

Theres nowhere for Yawk sellers to go now.

 

 

 

[Hancock]

1 hour ago, spygirl said:

The salewill have fallen thru as the CS andor bank valuator will have laughed them out of the bank.

This is a sign that the Yawk market is now out of reach of the people buying.

Theres nowhere for Yawk sellers to go now.

 

 

 

On the scale of insane prices its a mere 7.5.

This would have sold for its 2013 price up until fairly recently, but you can see its owned by some house proud woman who thinks sticking brick effect wallpaper up, adds £1000s to the price.

[Hancock]

Probably are until interest rates go up.
https://www.telegraph.co.uk/property/house-prices/record-house-prices-stay-average-home-hits-263k/

[sancho panza]

4 minutes ago, Hancock said:

Probably are until interest rates go up.
https://www.telegraph.co.uk/property/house-prices/record-house-prices-stay-average-home-hits-263k/

Might be right if noone wants to transact.Volumes are on their arse.RM still only showing the april data and it's 7th sept.

Longer term picture shows prices suppsoedly nearly doubling in Leicester between 2015 and now.

 

[Hancock]

1 minute ago, sancho panza said:

Might be right if noone wants to transact.Volumes are on their arse.RM still only showing the april data and it's 7th sept.

Longer term picture shows prices suppsoedly nearly doubling in Leicester between 2015 and now.

 

On the basis that chart is fairly representative of much of the country, they could have rigged the market to keep prices at 2010 levels for a decade or more so wages caught up.

Most people get to an age and all they want is a quiet life in their own little house, such a simple thing has been taken away.

SDLT breaks for 2nd homeowners, NI rises for workers, at some point the govt will pay for this.

[HousePriceMania]

 

Who seriously thought the establishment and bankers would be idiot/criminal enough to do this again after the banking system collapsed.

The question now should not be, is this a bubble, but how high will it go and how devastating will it be when it collapses.

[Ghostly]

6 hours ago, Hancock said:

Probably are until interest rates go up.
https://www.telegraph.co.uk/property/house-prices/record-house-prices-stay-average-home-hits-263k/

Didn’t Mr. Sunak say in one of his updates to Parliament (might have been during the Budget) that “we cannot allow prices to fall” or words to that effect? I believed him.

Edited September 7, 2021 by Ghostly

[HousePriceMania]

6 minutes ago, Ghostly said:

Didn’t Mr. Sunak say in one of his updates to Parliament (might have been during the Budget) that “we cannot allow prices to fall” or words to that effect? I believed him.

Boris said it in a mansion house speech or some such thing years ago.

**** of a human being.

[HousePriceMania]

Pension triple lock not being scrapped, just ignored for 12 months.

[Hancock]

47 minutes ago, Ghostly said:

Didn’t Mr. Sunak say in one of his updates to Parliament (might have been during the Budget) that “we cannot allow prices to fall” or words to that effect? I believed him.

Yes it was along those lines, think it was something about houses prices falling between March and May, so obviously he had to act.

Married to the daughter of a billionaire so we know whose side the complicit little cunt is on (not ours).

[Hancock]

5 hours ago, HousePriceMania said:

Pension triple lock not being scrapped, just ignored for 12 months.

Its not all bad, working plebs will now have 2.5% less to buy a shite house with.

A HPC could save them far more than that, not that this govt have any intentions to allow that to happen.

[Phil]

43 minutes ago, Hancock said:

Its not all bad, working plebs will now have 2.5% less to buy a shite house with.

A HPC could save them far more than that, not that this govt have any intentions to allow that to happen.

I would love massive tax rises. Bring down;

house prices , the cunts who never wanted it, the enablers ( for a short time) but? Would it increase immigration….yes…which IMO, would raise the gdp, enabling the UK to house the world with everything which would be great if the uk was the size of Asia with its mineral wealth…..blah… 

i hope it does go tit up big. Reasons to be cheerful.. part 3.

ive had a few

 

[Hancock]

1 minute ago, Phil said:

i hope it does go tit up big. Reasons to be cheerful.. part 3.

ive had a few

 

Sad thing is it has gone tits up, on a level none of us could have imagined ... yet the masses are more priced out than ever.

 

[Phil]

1 minute ago, Hancock said:

Sad thing is it has gone tits up, on a level none of us could have imagined ... yet the masses are more priced out than ever.

 

Masses have been trained that way. We are the masses. No escape. I myself hope the whole economy goes south. It’s nice to think one could have that nice little bit of……. for the graft, patience, endeavours you put in, but no. Sold a lie, sold a dream. Fuck it. 
It’s  been a lovely day weather wise and had a lovely bbq, me, Mrs and daughter. I enjoyed the company,food and beers.

tomorrow, it will take care of itself.

[macca]

Boris explains house prices..

https://youtu.be/RbD8PgGBkPU

[Noallegiance]

5 hours ago, macca said:

Boris explains house prices..

https://youtu.be/RbD8PgGBkPU

I'm beginning to get the rage.

[Bilbo]

Worth a five minute read.

"Why UK house prices are rising - and why the Government can't afford to let them crash" https://inews.co.uk/opinion/uk-house-prices-rising-2021-why-explained-government-crash-1188918/amp

[HousePriceMania]

 

[Boon]

Just thinking about a lot of people I know.

Most don't like shares, because of the volatility. Also they presume the pension has invested it into it for them.

A lot like premium bonds, because it is tax free. If savings get to excess it'll be blown on cars, holidays or house extensions.

Most long-term owners of houses have large, unrealised equity gains.

I do wonder what percentage of people have 90% of their net worth tied up in property, or stuff like premium bonds.

If you were China or Russia it would be pretty funny to try to engineer some kind of crash in the West, maybe Evergrande is part of the plan.

[HousePriceMania]

"Why UK house prices are rising"...because desperate people want them to....

[spygirl]

23 minutes ago, Bilbo said:

Worth a five minute read.

"Why UK house prices are rising - and why the Government can't afford to let them crash" https://inews.co.uk/opinion/uk-house-prices-rising-2021-why-explained-government-crash-1188918/amp

Not really - 

Long-term, we are in a bind. House prices in most parts of the country are not affordable and they have continued to rise beyond wages in recent decades. Yet, we cannot afford a house price crash because it would impact those who have taken on the most debt the worst, pushing them into negative equity and creating dire consequences for the economy because Britain relies on house prices to keep financial services moving. The subject of housing wealth is controversial, which means any solutions to this dilemma will likely be equally so.  

Bollocks, basically. Gormless fuckwittery.

Only ~30% of housing has a mortgage on it. The number of households that would be affected by crash is tiny.

If houses crash then the owner just carries on paying the mortgage. Itll just not be worth as much as they thought.

There has been a truely massive crash - all the HTBers who bought plastic flats.

The price falls on these are epic - 50%+ down.

The HTB houses are not much better - but less likely to catch fire.

These are all the eager FTB who were going to build up  equity. Fuck all.

And it ignores the simple fact that the Boe/UKGOV have even less control over the price of money than they did inthe 80s/90s.

When the Fed andor ECB rise - and they will, as inflation is getting out of control, then the BoE does.

This bit is so dumb that its worth singling out -

debt the worst, pushing them into negative equity and creating dire consequences for the economy because Britain relies on house prices to keep financial services moving. 

The UK mortgage market is absolutely tiny, a pimple on the UK finsec arse.

Its also been contracting for the last 10 years.

https://en.wikipedia.org/wiki/Vicky_Spratt

 

[Boon]

Always worth checking out the author to see agenda first.

It is fucking staggering to me how there is not one journo out there who could actually suggest the best way of improving affordability greatly is to, you know, have much lower prices.

The market would have delivered such by this time already, had it not been for the props. 

[spygirl]

4 minutes ago, HousePriceMania said:

"Why UK house prices are rising"...because desperate people want them to....

You missed -flat prices fall 7.9%. In a single month!

Flats are the domain of IO BTLer in London and HTBers.

fuck knows whats going to happen when furlough support goes and the benefit changes for EUers.