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House Price Crash Forum

Now or never

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Everything posted by Now or never

  1. Absolutely, but what I do know is that the 'market in my local search was going negative and the chronaviras has'nt brought any positives! I can't think of one thing that would create an increase in prices from this, anybody approaching a house purchase with the same mindset before the lockdown is highly likely to be the greatest fool.
  2. I too have always been of the opinion the government will support house prices at any cost but now we're on a different playing field; there's just too many wobbling plates. This lockdown has created the perfect storm in everything, incomes reduced, unemployment rocketing, banks reducing LTV, landlords/Air BnB selling up, GDP likely to reduce by at least 20%; none of which the effects are known or yet been felt. The MSM narrative has changed, sentiment is changing, lives and priorities are changing. We have a housing market that's been on hold for a whole month at least, all of which will hit at once. As we know, not all sales are financially forced, and there's not just the 3Ds. My 89 year old neighbour was diagnosed with a brain tumour last week, this week living in a care home, a four bed property about to hit the market once the doors open. My search area has not had a single property added to Rightmove since the 24th March, before that date it averaged 2-3 new properties a day. I'm not holding my breath for a fall in house prices, I'm holding my breath for a return to the norm.
  3. It is my belief demand will drop off a cliff regardless. We have not yet seen the effects of this lockdown, we have never experienced anything like it in our lifetime, we will not simply resume where we left off, people will not rejoin queues for property. Everything is pointing to a depression - have you seen the price of oil today?
  4. It's happening right now and the effects are yet to be realised, pent up supply from every angle with diminishing demand. One of us are living in a dream world.
  5. I prefer the term presstitutes. Stole that one from Gerald Celente. If you've never watched Trends Journal on you tube, I recommend.
  6. Understandable reactions to the circumstances you describe, and that was the point I was making. These are the reactions I'm expecting throughout the country, job security and general uncertainty removing commitment to purchase with price reductions adding more doubt. Nobody can predict or assure crash territory but there's no doubt the scales have tipped in favour, and I'm confident you will benefit in the long term.
  7. So you're not convinced of a crash but acknowledge a 50K drop in 3 months and you no longer have confidence to pursue a purchase? Seems your reactions should be enough to convince you.
  8. Couldn't read whole article. In what way has it been extended, just the period of time?
  9. Can anybody recall these types of headlines when all indices were (supposedly) pointing upwards as they are currently? House prices rises can no longer be justifed to, nor understood by the man on the street There's an acceptance this covid crisis is changing everything, creating a sentiment change which will be the final straw for house prices.
  10. So, in addition to a totally screwed economy, increasing unemployment and lower LTV mortgages since covid, we now have the final nail in the coffin: sentiment. Who is going to complete now?
  11. Eventuallly, timing is key. Printed to save the banks last time, printing to save everything this time - can the proles handle it?
  12. Many share this view in a free market, but the game is rigged. Those that have keep and those that have nothing help them keep it.
  13. Chatting to a neighbour over the weekend, has used the covid crisis as a reason to return pcp'd car. Apparently he's been told that there is a waiting list currently running at 3 weeks minimum for collection. Will be a massive supply of second hand cars hitting the forecourt after the lift on restrictions.
  14. I was in a company meeting two months ago, we were told all recruiting now through HR - no more agencies. Apparently last FY agency cost amounted to over 200K, circa 3K for an advisor role on 16K. Then the lowlife come back and tap them up for another position elsewhere - the cycle starts again.
  15. House prices had a link to the last financial crisis, associated with the cause so an indirect pump to the banks was deemed a necessary/acceptable ‘fix’ by the sheeple. This virus has been pinned as the cause, though we know the economy was never fixed, with no one/sector to blame, the everything bubble can now deflate and the reset can commence.
  16. The 'because it's worth it' stance is now being challenged. People are quickly coming to terms with the impact this virus is having on their lives and accepting a standard of living which is being eroded by the day. House price falls are now a given in the minds of those concerned enough to be giving them a thought.
  17. Yep, I'm not paying any rent. Will be sending LA and landlord letter once we go into lockdown, if no support to pay. Expecting my wife to lose her job, so landlord can take that hit.
  18. There's no doubt prices are crazy and I have no inclination to buy right now. However, if I was forced to move from current rental, my personal circumstances make buying at a crazy price more favourable to me; when time is not on my side. Fortunately houses are being reduced regularly around my way and this is buying me the time for the further drops im expecting.
  19. I get twenty something, I'm of the same age, but don't have the pressure to buy right now. House prices round my way are falling more than my annual rent which is about 25% less than the market rate due to no rise in 10 years. Im now in a position to buy, and if I was forced to leave I'd buy for exactly the same reasons.
  20. Wife purchased 5 bottles of hand sanitizer from b&m for 72p ea on Monday. Selling on eBay for £20 - the only stock I hold currently going up in value!
  21. This. I now own a hotel in Mayfair. Damn game.
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