Property crash, just maybe it really is different this time

[Hancock]

1 hour ago, sancho panza said:

Auctions are full of sharks and marks,if you're not a shark,you're a mark.

If you're an IO BTLer are marks.They'll wish the axe had fallen back in 08

Think the time for auctons was before Homes Under the Hammer started, be lucky to get good value without taking an epic risk.

[desertorchid]

If anyone was in any doubt about property prices only ever moving in one direction check out this wheeze:

https://www.theguardian.com/business/2021/aug/19/lloyds-plans-big-move-into-uk-rental-market-with-50000-homes

So set up a private entity (Citra), print free money via parent company (lloyds) to lend to to Citra which artificially stimulates demand, keep prices high and creams rent off tenants to provide a guaranteed revenue stream back to the parent company who bear almost no risk. . Surely this should be illegal?

[Phil]

9 minutes ago, desertorchid said:

If anyone was in any doubt about property prices only ever moving in one direction check out this wheeze:

https://www.theguardian.com/business/2021/aug/19/lloyds-plans-big-move-into-uk-rental-market-with-50000-homes

So set up a private entity (Citra), print free money via parent company (lloyds) to lend to to Citra which artificially stimulates demand, keep prices high and creams rent off tenants to provide a guaranteed revenue stream back to the parent company who bear almost no risk. . Surely this should be illegal?

With 50k Houses being rented out by one cartel, along with others, say another 100k = 150k, any problems with the printy thing ,( economy knackered anyway soon to pop imo )  who pays the rent. Sap taxpayers? But if no tax paid ( unemployment)and printy thing can't be fixed I'm not sure who pays, how and with what?

It should be illegal imo.

[Hancock]

6 hours ago, Phil said:

With 50k Houses being rented out by one cartel, along with others, say another 100k = 150k, any problems with the printy thing ,( economy knackered anyway soon to pop imo )  who pays the rent. Sap taxpayers? But if no tax paid ( unemployment)and printy thing can't be fixed I'm not sure who pays, how and with what?

It should be illegal imo.

It's like playing the game of Monopoly against the banker, which would become pretty shite, very quickly.

Whilst China is taking money off the billionaires to spread the wealth, Britain continues to take from the working class to hand to the billionaires ... but obviously the Chinese leaders are bad commies and our lot are good capitalists.

[Phil]

44 minutes ago, Hancock said:

It's like playing the game of Monopoly against the banker, which would become pretty shite, very quickly.

Whilst China is taking money off the billionaires to spread the wealth, Britain continues to take from the working class to hand to the billionaires ... but obviously the Chinese leaders are bad commies and our lot are good capitalists.

Aldi, Heinbacher Pilsner. £2.99. Luverly. 1st one- reflection. 2nd one fuck the world. 3rd- leads to can't wait for the BK. In like flin with our war chest. Oil I tell ya, oil and gold ( miners)...... wake up with bad head hopping Monday is black.

[Hancock]

8 minutes ago, Phil said:

Aldi, Heinbacher Pilsner. £2.99. Luverly. 1st one- reflection. 2nd one fuck the world. 3rd- leads to can't wait for the BK. In like flin with our war chest. Oil I tell ya, oil and gold ( miners)...... wake up with bad head hopping Monday is black.

Get yourself to Tesco for some Duvel, 3 bottles for £5 if you get there on a sunny day.

Never been able to drink Pilsner since Spurs were sponsored by Holsten Pils in the 80s.

Edited August 20, 2021 by Hancock

[King Penda]

3 hours ago, Hancock said:

It's like playing the game of Monopoly against the banker, which would become pretty shite, very quickly.

Whilst China is taking money off the billionaires to spread the wealth, Britain continues to take from the working class to hand to the billionaires ... but obviously the Chinese leaders are bad commies and our lot are good capitalists.

I’ve always said property won’t collapse I don’t call 10/15% a collapse btw.for that your looking at over 30/40%.ie Irish style drops 

Edited August 20, 2021 by King Penda

[sancho panza]

Margins possibly moving.I've been waiting for the sugar rush to dissipate.Jsut today,I checked my searhc for rentals in Liecestershire and there were a few reductions.First time I've seen one in months and thre or four straight up.

 

Amazing the link between transactions and stamp duty as you mainly jsut end up paying mroe for the hosue.savings--nil.

 

Aslo interesting tosee investors as 50% of buyers now....good for flats.

https://www.telegraph.co.uk/property/uk/demand-homes-falling-fastest-house-price-growth-could-slow/

The property market is at a crossroads. For the past year, homes have been selling quickly at sky high prices, while buyers have been battling an army of gazumpers.

But now pent-up demand has run its course and stamp duty holiday savings have all but disappeared. A chronic shortage of supply is bolstering prices, but the post-Covid frenzy is starting to dissipate.

London, where higher values meant buyers benefited from the biggest stamp duty savings, is changing first.

Property website Zoopla found that of the 15 postcodes that recorded the biggest drops in demand across Britain, 10 were in the capital.

It compared demand from April 5 to July 25, when buyers were unlikely to be able to take advantage of the original stamp duty holiday, with the preceding 16-week period when the tax break was boosting the market. It measured buyer demand using a combination of searches and inquiries.

In London’s SW and E postcodes buyer demand fell by 26.5pc. Cory Askew, of Chestertons estate agents, said: “The absolute peak of demand was at the end of March when the stamp duty holiday was extended.

 

“Then there was a steady decline in inquiries through April, May and June – levels were much lower than in 2020, but higher than in 2019. It is a normalised market.”

In almost all cases in the top 15, buyer demand was still significantly above the average in the same period in 2017 to 2019. In south-west London, where a rush for space and gardens drove massive spikes in sales in the likes of Barnes and Kew, demand was still up 17pc on the pre-Covid level. But the numbers show a gear shift.

The race for space seems to be receding. In Camden, demand is transferring to flats, said Mr Askew. “That market is predominantly first-time buyers who are feeling a lot more secure in their job prospects.”

But other parts of the capital are grappling with problems that the stamp duty holiday rush previously concealed. In the EC postcode, which encompasses areas such as Shoreditch and the City of London, demand fell by 19.5pc, and is now 12.6pc below the 2017 to 2019 average. “The engine is the City, and most firms have given no mandate for workers to come back to the office full time,” Mr Askew said.

Polat Ali, of Hunters estate agents in Shoreditch, said: “We had the busiest June ever. But then July and the start of August was extremely quiet. We had two offers in five weeks. Usually we have five per month.”

Now that the time pressure of the stamp duty holiday has gone, the problems of the cladding crisis are also becoming more apparent. East London has a large concentration of high rise blocks and many flat sales simply cannot happen because lenders require external wall safety (EWS1) forms before they can offer mortgages. “Probably 20pc of properties we see we just won’t take on,” said Mr Ali.

Meanwhile, London developers are scrambling to fill the affordabilty gap left by the stamp duty cash savings. Peter Gibney, of JLL, a property firm, said that many are now offering to pay stamp duty bills in full.

In outer London areas, such as Twickenham and Enfield, demand also fell, but this dip was partly because the peak was so high. In Kingston-upon-Thames, demand fell 21.8pc between the two periods studied, but it was still up 96.5pc versus the pre-Covid average.

By contrast, in the most expensive areas of central London, which suffered heavily during the pandemic, demand is now rising as international travel restrictions lift.

Camilla Dell, of buying agent Black Brick, said: “For the first time in a year and a half, I’m meeting up with clients from Dubai, Qatar, Saudi Arabia. They are looking for holiday homes and good long-term investments in Mayfair, South Kensington, Knightsbridge and Chelsea.”

Outside London, demand also fell significantly in parts of the North East. Property prices in the region rose by 15.3pc in the year to June, the second-highest rate in the country, according to the Office for National Statistics.

In Newcastle upon Tyne and the Cleveland and Teesside, demand fell by 18.7pc and 18.5pc respectively. In Darlington, in County Durham, buyer demand fell by 27.1pc, the largest drop in the country. But the level of demand was still historically high – 53pc above the average in the same period across 2017 to 2019.

Emma Wick, of Bridgfords estate agents in Darlington, said there has been a dramatic change in who is buying. “Earlier in the year, the market was primarily driven by families who wanted or needed to move for more space.” These movers accounted for half the market 16 weeks ago.

“Now, everybody who wanted to move for homeworking or lifestyle changes has done so,” said Ms Wick. “The world is becoming a bit more normal.”

 

Homemovers now account for only a fifth of sales, she said. Instead, invesors, who had made up only 10pc of the market, now account for half of buyers.

A change in the type of homes for sale has been key, said Ms Wick. “Now a lot of the properties we are selling are empty. There has been an increase in mortgage repossessions, which were banned during the pandemic, and landlords are offloading rental stock because prices are at an all time high.”

[sancho panza]

https://www.mylondon.news/news/property/london-property-london-boroughs-house-21358299

London property: The London boroughs where house prices have actually gone down

All hope is not lost for prospective London homeowners, as property prices have actually decreased in some parts of the capital

Pockets of London have escaped a trend for soaring house prices across the UK, with some areas seeing properties sell for, on average, 13.2 per cent less than they did last year.

The cost of buying a home has rocketed since the pandemic, growing at the fastest rate for over 17 years. Most of this surge is down to the stamp duty holiday introduced in July: The Office for National Statistics (ONS) suggested the change in tax may have led to sellers asking for higher prices since buyer’s overall costs were reduced.

 

It’s also believed that Londoners leaving the city in search of more spacious properties has impacted demand.

While people scrambling to purchase homes pushed costs sky high across the UK, parts of London have seen the opposite happen, with prices falling across five boroughs.

Here’s a breakdown of the data from the ONS's UK House Price Index and more on what's going on in the housing market in the capital.

 

City of London

Average house prices have seen the biggest decline in the capital’s financial district, the City of London.

The cost of a home in the Square Mile declined by a huge 13.2 per cent over the past year. Given how small the area is, the drop in price will be on the basis of just a few sales.

 

There’s no doubt, however, that the changes to working patterns since the pandemic, with many no longer coming to the office, will have had a dramatic impact on the area. While the City of London employs 10 per cent of the capital, amounting to over 500,000 people, only 7,700 actually live there.

City of Westminster

Over the last year, house prices in the City of Westminster have dropped by 7.9 per cent. With a population of 250,000 the borough is much larger than the City of London and has a diverse portfolio of properties on offer, from townhouses in Marylebone and Mayfair, to family homes in Maida Vale and St John’s Wood.

The City of Westminster is one of the most prestigious boroughs in London, home to the Queen when she’s staying at Buckingham Palace, the Prime Minister, at 10 Downing Street and over 11,000 listed buildings, as well as four Royal Parks.

Kensington and Chelsea

Some of the most expensive homes in London are in the Royal Borough of Kensington and Chelsea. While being neighbours with the Duke and Duchess of Cambridge will have cost you an average of £1.3 million in 2020, that’s now dropped to £1.23 million in 2021, 4.8 per cent less.

Though house prices are high in the area, the borough is actually the smallest in London and one of the most densely populated. Residents are not short of entertainment though, as it’s home to a legion of museums including the Victoria & Albert, as well as the luxury shopping district of Knightsbridge.

Southwark

While house prices in South London, in areas such as Greenwich, Croydon and Lambeth grew over the last year, Southwark bucked the trend with a 1.7 per cent decline in the average cost of a home.

Though the borough is just south of the Thames River, it’s situated centrally and is home to many key attractions in the city including the Shard, Tate Modern and London Bridge Station, as well as Borough Market.

Many students are drawn to living in Southwark as its home to a cluster of prestigious universities including University of the Arts London and the Royal College of Obstetricians and Gynaecologists.

Hackney

The area which saw the smallest decline in average prices was Hackney, with only a 1.6 per cent decline. Situated in the north-east of the city, average house prices there are in the upper £500k mark.

[HousePriceMania]

27 minutes ago, sancho panza said:

https://www.mylondon.news/news/property/london-property-london-boroughs-house-21358299

London property: The London boroughs where house prices have actually gone down

All hope is not lost for prospective London homeowners, as property prices have actually decreased in some parts of the capital

Pockets of London have escaped a trend for soaring house prices across the UK, with some areas seeing properties sell for, on average, 13.2 per cent less than they did last year.

The cost of buying a home has rocketed since the pandemic, growing at the fastest rate for over 17 years. Most of this surge is down to the stamp duty holiday introduced in July: The Office for National Statistics (ONS) suggested the change in tax may have led to sellers asking for higher prices since buyer’s overall costs were reduced.

 

It’s also believed that Londoners leaving the city in search of more spacious properties has impacted demand.

While people scrambling to purchase homes pushed costs sky high across the UK, parts of London have seen the opposite happen, with prices falling across five boroughs.

Here’s a breakdown of the data from the ONS's UK House Price Index and more on what's going on in the housing market in the capital.

 

City of London

Average house prices have seen the biggest decline in the capital’s financial district, the City of London.

The cost of a home in the Square Mile declined by a huge 13.2 per cent over the past year. Given how small the area is, the drop in price will be on the basis of just a few sales.

 

There’s no doubt, however, that the changes to working patterns since the pandemic, with many no longer coming to the office, will have had a dramatic impact on the area. While the City of London employs 10 per cent of the capital, amounting to over 500,000 people, only 7,700 actually live there.

City of Westminster

Over the last year, house prices in the City of Westminster have dropped by 7.9 per cent. With a population of 250,000 the borough is much larger than the City of London and has a diverse portfolio of properties on offer, from townhouses in Marylebone and Mayfair, to family homes in Maida Vale and St John’s Wood.

The City of Westminster is one of the most prestigious boroughs in London, home to the Queen when she’s staying at Buckingham Palace, the Prime Minister, at 10 Downing Street and over 11,000 listed buildings, as well as four Royal Parks.

Kensington and Chelsea

Some of the most expensive homes in London are in the Royal Borough of Kensington and Chelsea. While being neighbours with the Duke and Duchess of Cambridge will have cost you an average of £1.3 million in 2020, that’s now dropped to £1.23 million in 2021, 4.8 per cent less.

Though house prices are high in the area, the borough is actually the smallest in London and one of the most densely populated. Residents are not short of entertainment though, as it’s home to a legion of museums including the Victoria & Albert, as well as the luxury shopping district of Knightsbridge.

Southwark

While house prices in South London, in areas such as Greenwich, Croydon and Lambeth grew over the last year, Southwark bucked the trend with a 1.7 per cent decline in the average cost of a home.

Though the borough is just south of the Thames River, it’s situated centrally and is home to many key attractions in the city including the Shard, Tate Modern and London Bridge Station, as well as Borough Market.

Many students are drawn to living in Southwark as its home to a cluster of prestigious universities including University of the Arts London and the Royal College of Obstetricians and Gynaecologists.

Hackney

The area which saw the smallest decline in average prices was Hackney, with only a 1.6 per cent decline. Situated in the north-east of the city, average house prices there are in the upper £500k mark.

They say it like less exorbitant housing costs is a bad thing.

[sancho panza]

Amazing that house [rice/earnings ratio of 5.6 is deemed modest these days

https://www.standard.co.uk/homesandproperty/property-news/london-house-prices-affordable-b950200.html

London’s reputation as the toughest place in Britain to buy a home is on the wane after a year of strong price growth in the provinces and stagnant growth across large swathes of the capital.

According to a study by Halifax, published today, the most unaffordable option is the affluent Hampshire cathedral city of Winchester where a typical home costs 14 times the city’s average income of £45,000.

London has slipped outside the top five of Halifax’s league table of unaffordable cities around the country for the first time in six years, beaten out by Oxford, Truro, Bath, and Chichester.

 

But, with average house prices up five per cent in the year to June to hit £564,695, and earnings up four per cent, the capital’s price-to-wages ratio is still a punishing 11.

 

London has dropped down the unaffordability league table thanks to the pandemic-inspired shift of buyer priorities.

Freed from daily commutes many people who might otherwise have remained in the capital have rushed to buy homes in coastal and country hotspots, as well as appealing small cities, causing mini housing booms across the south east, east, and south west of England.

Analysis of sales during the first five months of 2021 by Search Acumen found that just over half of the 4,881 homes which sold for £1m or more in England and Wales were beyond London – the first time in more than a decade that the capital has not had a majority share of seven-figure sales.

What will happen to London house prices?

Central London, meanwhile, has been hit by the almost complete absence of overseas buyers since March 2020 and the increased appeal of suburban locations with plentiful green space and cheaper real estate.

Aneisha Beveridge, head of research at Hamptons International, said she expected regional cities to continue outperforming the capital in terms of house price growth.

“We have not seen the proportion of people leaving London fall over the last couple of months, despite the fact that … [lockdown] … restrictions have ended,” she said.

As travel and other restrictions ease, however, commentators do expect prices in London to start to escalate in the slightly longer term.

 

Savills’ latest prime house price forecasts predicts that prices in prime central London will increase by 21 per cent, while prices in the suburbs will shoot up 26 per cent.

At the other end of the scale, Halifax found that Derry is the most affordable city, with average property prices some 4.7 times the average wage.

Predictably most of England’s most affordable options are northern, led by Carlisle and Bradford. Across the UK the average home costs some eight times average earnings.

Back in 2011 an average UK property cost a relatively modest 5.6 times the national average income.

[HousePriceMania]

1 hour ago, sancho panza said:

Amazing that house [rice/earnings ratio of 5.6 is deemed modest these days

 

Modest you say....

[Bobthebuilder]

A part of me feels that covid has fast-forwarded the housing market by quite some years, with a levelling out of prices across the UK, especially the south. I do think we would have reached this point anyway with people retiring to the coast/ countryside.

If I am right, that's going to leave a big void at some point soon and imho will hasten any price corrections.

Just a thought.

[spygirl]

4 hours ago, sancho panza said:

https://www.mylondon.news/news/property/london-property-london-boroughs-house-21358299

London property: The London boroughs where house prices have actually gone down

All hope is not lost for prospective London homeowners, as property prices have actually decreased in some parts of the capital

Pockets of London have escaped a trend for soaring house prices across the UK, with some areas seeing properties sell for, on average, 13.2 per cent less than they did last year.

The cost of buying a home has rocketed since the pandemic, growing at the fastest rate for over 17 years. Most of this surge is down to the stamp duty holiday introduced in July: The Office for National Statistics (ONS) suggested the change in tax may have led to sellers asking for higher prices since buyer’s overall costs were reduced.

 

It’s also believed that Londoners leaving the city in search of more spacious properties has impacted demand.

While people scrambling to purchase homes pushed costs sky high across the UK, parts of London have seen the opposite happen, with prices falling across five boroughs.

Here’s a breakdown of the data from the ONS's UK House Price Index and more on what's going on in the housing market in the capital.

 

City of London

Average house prices have seen the biggest decline in the capital’s financial district, the City of London.

The cost of a home in the Square Mile declined by a huge 13.2 per cent over the past year. Given how small the area is, the drop in price will be on the basis of just a few sales.

 

There’s no doubt, however, that the changes to working patterns since the pandemic, with many no longer coming to the office, will have had a dramatic impact on the area. While the City of London employs 10 per cent of the capital, amounting to over 500,000 people, only 7,700 actually live there.

City of Westminster

Over the last year, house prices in the City of Westminster have dropped by 7.9 per cent. With a population of 250,000 the borough is much larger than the City of London and has a diverse portfolio of properties on offer, from townhouses in Marylebone and Mayfair, to family homes in Maida Vale and St John’s Wood.

The City of Westminster is one of the most prestigious boroughs in London, home to the Queen when she’s staying at Buckingham Palace, the Prime Minister, at 10 Downing Street and over 11,000 listed buildings, as well as four Royal Parks.

Kensington and Chelsea

Some of the most expensive homes in London are in the Royal Borough of Kensington and Chelsea. While being neighbours with the Duke and Duchess of Cambridge will have cost you an average of £1.3 million in 2020, that’s now dropped to £1.23 million in 2021, 4.8 per cent less.

Though house prices are high in the area, the borough is actually the smallest in London and one of the most densely populated. Residents are not short of entertainment though, as it’s home to a legion of museums including the Victoria & Albert, as well as the luxury shopping district of Knightsbridge.

Southwark

While house prices in South London, in areas such as Greenwich, Croydon and Lambeth grew over the last year, Southwark bucked the trend with a 1.7 per cent decline in the average cost of a home.

Though the borough is just south of the Thames River, it’s situated centrally and is home to many key attractions in the city including the Shard, Tate Modern and London Bridge Station, as well as Borough Market.

Many students are drawn to living in Southwark as its home to a cluster of prestigious universities including University of the Arts London and the Royal College of Obstetricians and Gynaecologists.

Hackney

The area which saw the smallest decline in average prices was Hackney, with only a 1.6 per cent decline. Situated in the north-east of the city, average house prices there are in the upper £500k mark.

You'll have to wait a good few quarters for the dust to clear esp. In London, where it's looking like a massive structural shift in employment.

From July 1, the threshold up to which buyers in England avoid paying stamp duty decreased from £500,000 to £250,000. From October, thresholds will revert to the levels charged before the introduction of the measure in July 2020, which was designed to stimulate the housing market following the first coronavirus lockdown.

Scott Taylor-Barr of Shropshire-based mortgage broker Carl Summers Financial Services said that the drop in the number of property transactions in July “was inevitable”.

“The rest of the year will likely see a further slowdown, as the second phase of the stamp duty holiday ends and people start to gear up for Christmas,” he said.

But others disagree. “The early signs are that September is gearing up to be another monstrously busy month with buyers poised and waiting for the traditional influx of listings after the summer holidays,” said Rhys Schofield, managing director at Derbyshire-based Peak Mortgages and Protection.

 

 

[Hancock]

16 hours ago, Bobthebuilder said:

A part of me feels that covid has fast-forwarded the housing market by quite some years, with a levelling out of prices across the UK, especially the south. I do think we would have reached this point anyway with people retiring to the coast/ countryside.

If I am right, that's going to leave a big void at some point soon and imho will hasten any price corrections.

Just a thought.

Wish you were correct, but i can see a market with barely any forced sellers and the probate property falling into that category, there will be enough demand to snap it up and rent it out.

Covid distorted and inflated the market by epic proportions with the free handouts to so many who by the default position of being British put it in the property market.

My feeling is if we had no covid we'd have seen the real BK that is spoken about, and that is the one and only reason covid exists ... at any other time in history it'd not have been named and if there were extra deaths they'd have been categorised as flu deaths.

[King Penda]

16 hours ago, Bobthebuilder said:

A part of me feels that covid has fast-forwarded the housing market by quite some years, with a levelling out of prices across the UK, especially the south. I do think we would have reached this point anyway with people retiring to the coast/ countryside.

If I am right, that's going to leave a big void at some point soon and imho will hasten any price corrections.

Just a thought.

They thought that in 2012 . I went after this and got outbid by a builder .I should have borrowed 2k of my mum to get it.i bought my hovel in stoke 3/4 months later.it was then that I called the bottom on tos and got banned .they expected drops of 40% plus after 2009.anyway it’s now estimated to be worth 170k on zoopla.

[Bobthebuilder]

22 minutes ago, King Penda said:

They thought that in 2012 . I went after this and got outbid by a builder .I should have borrowed 2k of my mum to get it.i bought my hovel in stoke 3/4 months later.it was then that I called the bottom on tos and got banned

Funny enough. I bought my current house end of 2012 and got banned on TOS as well.

[King Penda]

2 minutes ago, Bobthebuilder said:

Funny enough. I bought my current house end of 2012 and got banned on TOS as well.

Did you tell them .I wonder how many others threw in the towel and have never admitted it and are still there

[Bobthebuilder]

7 minutes ago, King Penda said:

Did you tell them .I wonder how many others threw in the towel and have never admitted it and are still there

I posted that I was buying a house and was moderated pretty much the next day. Tried to post a few more times, but the posts never appeared. I then asked the mods to delete my account and all posting history, which to be fair to them, they did.

I am in London, my place has fallen in price over the covid, lots of empty houses near me at present, many of the EEs have gone home.

[sancho panza]

1 hour ago, Bobthebuilder said:

Funny enough. I bought my current house end of 2012 and got banned on TOS as well.

That's the reason the deflation thread got set up here in the basement.

Me and DB both got suspended without warning at different times and without being given a reason.It got very censorious and there's nothing worse than a good debate being censored.

We both tend to call the price action as the price action but like I said,it was nothing specific.

 

 

[sancho panza]

1 hour ago, King Penda said:

Did you tell them .I wonder how many others threw in the towel and have never admitted it and are still there

The debate got stifled on tehre,when you start banning people for being bulls or bears,you're on the wrong road, period.

It got one dimensional in the end.This place has been a Godsend

1 hour ago, Bobthebuilder said:

 

I am in London, my place has fallen in price over the covid, lots of empty houses near me at present, many of the EEs have gone home.

If you don't m ind me asking Bob,how have you noticed.Less people about or did you know some perosnally that have gone.

What was their reasoning?

[sancho panza]

3 hours ago, Hancock said:

My feeling is if we had no covid we'd have seen the real BK that is spoken about, and that is the one and only reason covid exists ... at any other time in history it'd not have been named and if there were extra deaths they'd have been categorised as flu deaths.

Think you've nailed it there.They found a reason tos timulate as the only other option was deflation.

We'll still get a credit defaltion,it'll jsut be the biggest ever(and that's from someone who's balls deep long in this market)

[Bobthebuilder]

6 minutes ago, sancho panza said:

That's the reason the deflation thread got set up here in the basement.

Me and DB both got suspended without warning at different times and without being given a reason.It got very censorious and there's nothing worse than a good debate being censored.

We both tend to call the price action as the price action but like I said,it was nothing specific.

 

 

Big loss for them, losing the deflation thread. I used to read it but could not post, of course. It was very welcome when you lot moved over here.

7 minutes ago, sancho panza said:

If you don't m ind me asking Bob,how have you noticed.Less people about or did you know some perosnally that have gone.

What was their reasoning?

I noticed empty houses about 6 months ago, some with whitewashed windows, half the amount of cars parked up on the streets. Still some about, looks like they are on furlough / bennies as they are mostly in all day long.

One flat at the top of my street has gone to auction twice now with sitting EE tenants and has not sold.

The local corner shop has stopped selling Polish food as well.

Don't know any personally that have left, all my Polish mates have been here 20 years now.

Seeing a different demographic starting to rent the houses lately, bearded English types with expensive cars. Presume they are moving here for cheaper rents, from areas like Hackney.

[No One]

On 24/08/2021 at 14:45, sancho panza said:

Homemovers now account for only a fifth of sales, she said. Instead, invesors, who had made up only 10pc of the market, now account for half of buyers.

Wow

5 hours ago, Hancock said:

Wish you were correct, but i can see a market with barely any forced sellers and the probate property falling into that category, there will be enough demand to snap it up and rent it out.

Covid distorted and inflated the market by epic proportions with the free handouts to so many who by the default position of being British put it in the property market.

My feeling is if we had no covid we'd have seen the real BK that is spoken about, and that is the one and only reason covid exists ... at any other time in history it'd not have been named and if there were extra deaths they'd have been categorised as flu deaths.

See post above.

 

I hope honest to god that these "investors" loose evrything. Greedy abstards

[Hancock]

6 hours ago, No One said:

Wow

See post above.

 

I hope honest to god that these "investors" loose evrything. Greedy abstards

Tory policy worked as intended, as FTBers werent paying SDLT prior to the holiday, it was merely a gift to landlords.

And people talk about Sunak as being the next PM, nicest thing i wish the cunt is an early death.