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House Price Crash Forum

Now or never

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Posts posted by Now or never

  1. 1 hour ago, Sausage said:

    Many would be. I've also walked past 2 pubs this evening. One shut but opening tomorrow. One open but no sign of patrons. I was planning to go in for a beer but I couldn't read the dodgy A4 signs on the doors, which presumably advised routes in and new rules. Very unwelcoming. 

    For 3 months ive managed without regular coffee from Costa, occasional beer from pub... But have spent more time in parks. Things have changed I feel.

    I agree, things have changed.

     

    I haven't ventured into a pub over the weekend or been to a high street since restrictions have been lifted. The bullshight rules you have to endure for getting the daily shop is just bearable, but to abide to the power crazy for a sociable drink - no thanks.

  2. 3 hours ago, Sausage said:

    I'm in my local town centre. First time since march. I'm looking at the large number of shops that have not yet re-opened. I think they're a good indicator of ones that never will. Travel agents, some cafes and bakeries, Clintons. 

    Are all of those usually open on a Sunday?

  3. 1 hour ago, Simhadri said:

    My friend's home in Brentwood had its value drop by 5% for remortgage compared to its 2018 price when he purchased. We will definitely see some drops but not a crash. Market will rebound next year. No need to fall off chair or balcony over this.

    The 'market' was only just functioning before Covid with LTVs at 95%. FTBs scraping a 5% deposit and jumping on the perception of an asset forever increasing in value. Who could blame them with mortgage repayments close to rent.

    That perception is changing and their deposit requirements have just trebled.

    LTVs is the trigger point for me, a return to 95% will see prices rise from wherever they fall. The banks call the shots, but I'm not expecting them to use any ammo until they've got some sight on this situation. I believe that's unlikely to happen in the next 12 months, at which point further lending restrictions may be applied.

    We just don't know for sure, though I'm also seeing drops now and not seeing any grounds for rises.......yet.

  4. 5 hours ago, longgone said:

    supermarkets pubs public transport and cheltenham  would have initially spread it after allowing it in via ports and airports. 

    i locked this house down on the 1st march, every one needs to take ownership of themselves with a government like this.  

     

    I left it a bit later than you but had the three kids out of school with me and the wife off  'sick' 10 days before official lockdown.

    With all that was going on at the time, it was madness not to react, and to be honest I was quite concerned and had worrying thoughts.

    The funny thing is, all those obliviousback then are still schiting themselves now. After we got through the first month, when the facts and data was coming through, I was pretty laid back about it all and have since had a thouroughly enjoyable time with the family!

  5. 3 hours ago, Bluestone59 said:

    Waitrose may be fair game from time to time but my understanding is that the true purveyors of the product as you describe it are Warburton's, allegedly.

    Had anyone else heard that?

    It did occur to me that the cost of their advertising budget may have caused some skimping on materials.

    Kermit the Frog doesn't come cheap.

    I remember thinking that when they ran the (long) adverts and wondered how an expensive bunch of Muppets were going to help.

  6. 59 minutes ago, Clarky Cat said:

    This is all far too early to be seeing any widespread price drops. The last time house prices dropped it took 5 years to reach the real-terms 

    This is not last time.

    Last time the msm were not suggesting 30% drops before any negative data had been reported by any source. They have no counter argument this time, because this time it really is different.

     

     

  7. Agree we may see an increase due to public transport, not sure we'll see an increase in demand to an extent that will cause an increase in secondhand prices unless holiday payments are granted to those on pcp deals.

    As mentioned in my previous posts, neighbour of mine cancelled his contract ten weeks ago, car still sitting on his drive. I know he is keen for them to collect, told them he will be moving when he isn't.

    Makes me wonder why they're struggling and allowing to manage an asset which is depreciating as a result of their own actions.

  8. I'm noticing reductions but just as promising, new properties added at lower prices which are starting to make some existing properties more expensive and less value in comparison.

    This is likely to put downward pressure on those existing listings creating momentum for reductions across the board.

    Here in the South, for some properties I would say we are about 15% down from 18 months ago when I started watching the local area on a daily basis. Property listed for £250k today were being listed for around £300k.

    I expect the difference is quite apparent to anybody following the market closely.

  9. Doesn't matter how keen you are to get back, and no amount of expressing will change your predicament.

    I've furloughed 24 people, pulled back 8 over the past month as things have picked up; each one based on performance and skill sets.

    Both furloughed and retained staff have been requested not to make work related contact, unless business updates are being provided.

    Our sales team, 70 regional business developers, are down to 5 and will not exceed 35 when all this is over.

    Furlough has given the business a great opportunity to establish resource levels and restructure teams with the better (and less hassle) employees.

    You could argue long term it has had the reverse effect.

  10. My wife has been furloughed now since end of March.

    I doubt she will be pulled back before end of August based on current activity and don't  expect pick up by then. By end of August she'd not been seen at her place of work for over 5 months, pretty much a forgotten face and a painless choice for redundancy from the employer's petspective. There's no way they will be contributing 20% of her wage now they've adapted to her not being there - out of sight, out of mind.

  11. On 03/05/2020 at 21:53, Now or never said:

    4 weeks on and car still sitting on the drive.

    Could be many reasons associated with resources during lockdown, though I got the impression it was the numbers causing the delay.

    Either way, whatever the cause, the delay is creating huge pent up supply for the second hand market.

    When lockdown is lifted and furlough payments cease, either car values or the market will be destroyed, highly likely both.

    Nearly another 4 weeks and neighbour still waiting for car to be collected.

    Lease companies must be screwed.

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