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House Price Crash Forum

rantnrave

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Everything posted by rantnrave

  1. This. Intergenerational mortgages are in effect the end of the line - the last prop after everything else has been done. I believe these were implemented in Japan just before the bubble there massively popped. It does however leave absolutely no doubt that the current government views house price falls as a very serious electoral liability. As said in another post here, they've not got the funds to throw at the market though.
  2. I know of two couples locally who consist of an EU citizen married to someone from outside the EU. Certainly with one of them it makes no financial sense for them to be here rather than back in her native Germany. I've now come to realise that they find the UK an easier place for a mixed race couple to be.
  3. Here's what estate agents are saying: https://propertyindustryeye.com/market-snapshot-suggests-its-absolute-madness-to-think-house-prices-will-keep-on-rising/ Guy Harrington, CEO, Glenhawk, commented: “Another month of slowing growth is just a precursor to the sharp correction about to torpedo the UK housing market, caused by a perfect storm of record inflation, geo-political turmoil, rising rates and a once-in-a-generation cost of living crisis. It’s absolute madness to think house prices will keep on rising. As caution grips the market, the outlook for 2023 looks increasingly ominous.”
  4. Those in the black market couldn't get furlough money
  5. I was going to post this but it's not a particularly exciting update - house prices still increasing MoM, YoY figure still in double digits. At this rate, the annual figure will still be positive at the end of 2022.
  6. Pretty blatant analysis: Lawrence Bowles, director of research at Savills, believes that from a market perspective, removing the current stress testing “could mitigate some of the impact of higher interest rates”. He commented: “In theory, at least, it should open up a little more capacity for house price growth than is currently looking fairly constrained in the mainstream housing market. https://propertyindustryeye.com/scrapping-the-mortgage-market-affordability-test-is-not-as-reckless-as-it-may-sound/
  7. Amount of MSM who don't list money printing as a cause of the current inflation is staggering.
  8. Lockdown #1. Most of that May was stunning. Slow start to the decent weather this year IMO.
  9. Unlikely, given that the Euro started in 2002.
  10. What are young people doing? Organising a TikTok campaign around transgender equality rights.
  11. Specific numbers here re amount of people needing to remortgage this year, what rate they're currently at etc: https://propertyindustryeye.com/property-industry-reacts-to-fifth-consecutive-rates-increase/
  12. Bringing forward the day of the IMF bailout?
  13. Rewards for doing ONS Covid survey each month dropped from £25 to £20 from the start of May...
  14. As predicted, the Chase account has been knocked off the top spot: https://savingschampion.co.uk/best-buys/personal/easy-access-accounts (for anyone new to this thread, this is a discussion about the direction of rates rather than the paltry levels relative to inflation)
  15. https://propertyindustryeye.com/house-prices-the-market-is-now-at-a-turning-point/
  16. So does this mean Boris' planned big announcements (including one on housing) are on hold now?
  17. To which will see asking prices increase by £55k practically overnight
  18. Tories ditched Maggie for Major in 1990 and he went on to lead the Tories to an electoral victory in 1992 which few had been predicting. Tories ditched May in 2019, for Johnson to then lead them to their largest majority for several elections.
  19. Correct. I recall a relative fuming a few years back when their MP changed party. "But we voted Tory at the election..." they bleated. No - you voted for an individual who had membership of one political party at that time and who had since changed their allegiance. They are still the MP for that constituency.
  20. Eh? People vote for a constituency representative - an individual who is most likely a member of a political party at that time. The party members, not the general electorate, choose who their leader is. The leader of the largest political party becomes the PM.
  21. What's the data set out today that's gloomy? I think CPI would need to break through the 10% barrier and stay there for a full quarter before we'll get a 2% BoE rate... If that doesn't pan out, I think property prices could remain flat in nominal terms as a stand off between sellers and buyers sets in. Any crash would then be in real terms, with salaries playing catch up.
  22. Estate Agent says supply of houses for sale increasing and property prices are set 'to return to earth' https://propertyindustryeye.com/housing-supply-finally-improves-as-high-prices-set-for-return-to-earth/
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