Trump Invective

The thing is that any falls this year will be in a very artificial environment of uber low interest rates, funny money, htb etc. It will still be an artificially high bubble after the covid effect, no matter what the falls are going to be, even if prices halve. Say they do halve, and for example interest rates have to rise, or the props are removed, being unaffordable - that will be the bubble popping, right in the middle of the post covid slump. 50% then another 50% anyone? Not a prediction, just a reminder that we are in a bubble even taking the covid crash into account

I think lower prices indicate a sluggish market and they like to create a competitive, fast moving situation

https://www.telegraph.co.uk/property/house-prices/worst-month-since-crisis-house-price-falls-beginning/?li_source=LI&li_medium=liftigniter This is incredibly bearish

There was a Nationwide guy on LBC a bit ago - sounded deflated, defeated. He knew the game was up, you can only blag it for so long

Well, the poor have no cash, so there'es not much choice but to rinse the asset holders - before assets are worth nought

https://www.theguardian.com/politics/2020/may/30/call-for-inquiry-into-why-senior-tory-robert-jenrick-helped-donor-avoid-40m-tax

That article is beautiful. It's going on my wall. If it plays out, its going to be nerve-wrackingly brilliant

The fact that this is a thing evidences the forthcoming fall

True - stir those ingredients into the pot and there is only one outcome. ZIRP is already baked into the system - the govt may have provded money, but credit is about to freeze up as 24gray24 says

Even help to buy mortgages have lower LTV - there is less cheap money for the bottom feeders

Im sensing a few of us are doubting there will be a crash. There was a big wave of optimism a month ago. Can I remind you all about a saying that often gets repeated here: When the USA sneezes... 40 million unemployed? Riots in the streets? Come on people.

I'm off to sleep. Wake me up when there is a hpc

40% of stalled transactions aren't going through any more (Zoopla) and I can only guess that's sentiment or circumstances changing. It's going to be absolutely epic, but the props are now covering pretty much all the economy rather than just the housing market. Patience, as you say. This winter may be tough economically. No lounging in the garden in January having had no work for months

It's so weird how it's an unknown, bearing no relation to rational thought. I started thinking housing was a one off in that regard, and I suppose usually it is. However, there are so many other examples of unknowns in the near future. Will holidays be more expensive or cheaper? What about mobile phones? Bread? I've decided to wait and see what happens, and not make any predictions (having thought there would be a significant fall).

Ha very true! Me included!