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House Price Crash Forum


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Everything posted by Speed1987

  1. Seems Matthew, is thinking along the same lines as me.
  2. There was no contradiction at all and I'm using Primark as an example... there are various other businesses in the UK using cheap labour in India. Primark imports goods yes, they instruct factories to make these goods and there are agreements in place to allow these goods to flow to us cheaply. Anyways, point is India want more visas granted for its population to allow more trade, for example for us to sell a higher amount of whisky. Why then is Boris agreeing or contemplating such deals? If it's a simple as, we just don't want to trade with you. It's not, Indian kids suffer/work for us to benefit. India allow this in exchange for other benefits such as immigration.
  3. @Insane https://www.theguardian.com/world/2022/apr/22/india-and-uk-to-press-ahead-with-talks-on-free-trade-deal-modi-johnson "India had been keen to make increased access to the UK for its citizens part of any trade agreement, and Johnson signalled on Thursday he was willing to make concessions in this area โ€“ something previous UK governments had refused to do. Asked whether he was willing to offer more visas as part of a deal, he told ITV: โ€œThe UK actually has a massive shortage in some sectors like IT. Some estimates say we are hundreds of thousands of people short. So what you can have is controlled migration, which allows you to bring in talented people who can really help your economy."
  4. As India knows we benefit from their cheap goods. India wants somthing in exchange for these goods and I don't blame them. The cost to make that product in the UK is much higher and we don't want to work in factories. We simply cannot compete with our laws and ideas. In other words, if you want Primark then indias terms are you accept more immigration.
  5. Yea I've also noticed much more wealthy Asians moving into my area, particularly Indians. I guess many have businesses in India, servants at home (in india) and are transferring wealth to the UK. Actually I have a couple of close Indian friends and they have servants in India, but live a middle class lifestyle in the UK. Tbh, I have an admiration for them, as they are extremely polite hard working people and band together. The problem we have is culturally they are out competing us. As they are willing to live within 1 big house as a community. Less bills and more household income, auntie does all the cooking. An ill vouch for her it's great ๐Ÿ˜‚. I think we need to change our perspective, rather than taxing them. The opportunities are out there and there's nothing stopping us investing or starting a business in India or Africa.
  6. I don't believe the concern has evaporated, its just not prominent within government. The conservatives were using this to get into power previously, with no intention of stopping or reducing immigration. They blamed the EU and done a great job of manipulation throughout the MSM and social media. Now they've been in power for sometime and the electorate see no real difference. I feel an apathy around me that it simply will not change and tbh I don't think it will neither. We cannot go to other people's countries and expect them not to come to ours. We also want cheap goods, so in exchange for exploiting kids in sweatshops, we have to give up somthing... Either we allow mass immigration or kiss good bye to Primark.
  7. To add construction labour is generally price work, so the builders, plumbers and sparkies will increase their rates to. If the cost of living keeps rising they'll be demanding much more for their labour.
  8. Regardless of what people state, Facts are, drum roll.... House prices are still rising month on month. Mortgages are still cheap and the base rate is low. Listings are still low. We would need a hell of a crash to get back to 2018/19 prices, don't you agree?
  9. Well, I was actually asking a legitimate question, as I would expect to see this reflected within my local numbers. I cannot find any data to back this up was generally curious. Seems your more interested in ranting, with your response.
  10. Any evdience of this? Listing local to me are still the same, rather low.
  11. Its almost criminal, a culture where people are lured in by the economic sound bites and some rather knowledge people (i say that reluctantly). However cannot put all the pieces of the jigsaw together..
  12. This statement is still running through my head... It sums it up perfectly.
  13. I do imagine some people who are overlevergaed, will have to make tough decisions. However as long they are fixed for 5-10 years, they have ample time to create a plan, to either pay down the mortgage more aggressively or sell the property and move to a more manageable mortgage. I really don't see a problem for most, until we hit 3-5% and even at that the majority should be able to manage. If they are being squeezed by bills etc, they'll simple have to generate more wealth or cut down on gas/electric/meals out.
  14. Well local to me, there has been a slow down. That said, prices are still rising and houses are still selling. There are less houses for sale currently, than I can remember. I would imagine with all the talk of doom and gloom with the housing market. It may increase buyer urgency, particularly if their mortgage payments would be less than their current rent. I also see people just settling for somthing less up market, as their budgets can no longer stretch. The majority of people I know, have fixed last year, the ones who haven't, are literally at the end of their terms. I suspect the 1% base rate to have no effect on the housing market. I don't believe there will be any real effect until we hit between 3-5%. It simply means people will be able to afford slightly less. I just checked my mortgage calculator and I can tolerate a 15% rate on my mortgage. Not that I would want to pay it though. I imagine the majority of people have fixed and if they haven't and find themselves in trouble can always stretch their term.
  15. Pretty much how I view it, I'm hoping for inflation with wage rises. With every crisis I want them to print more money and they are. Which gives me a window of opportunity, to quickly invest in assets, before that money circles into the wider economy. Once that money reaches those at the bottom, I know my debt has basically been eroded and this is the new normal. Was rather happy when wages went up this year.
  16. "Although Mr Bailey made it clear there was no evidence yet of a housing bubble". Well there you have it, there is no bubble. 2013 ๐Ÿ˜‚
  17. Yes, that's makes perfect sense... I'll not borrow anymore money and put myself at a disadvantage to others who use debt productively. Then I can be a slave to rent and get turfed out when ever the landlord chooses. Sounds like a good decision?
  18. I remember the celebration posts ๐Ÿ˜‚. "I told you so" Covid19 will crash the housing market here we are 2 years later with a 20% increase. Strange how that worked out.... There is obviously a mass bias on this site towards a crash, yet for years nearly everyone has been wrong nearly all the time.
  19. I'll agree as you say, what matters to them 'is staying in power'. I disagree that they don't care to much about their property or even portfolio worth. It's one of the reasons, they've just given out billions in cash, to prop up the housing market. Along with ensuring equality of wealth is protected. Their campaigns are paid for by donors and these donors are asset rich and landlords. These are land owners, property developers, large builders. Lets be realistic the government have done everything in their power to prop up the housing market. Stamp duty cut? Low interest rates? Furlough? HTB? 95% tax payer mortgages? Inviting immigrants? Hong Kong, India. Just look around at all the developments, Birmingham is filled with cranes right now. Littered with new sky scrapers.. The list goes on and on. I stick by my prediction, HPI, I agree there has been a slow down in house purchases. Well, I predicted negative rates and they never came through? (Yet anyway) Get over it, most on here have been predicting a crash for years, brexit, Covid-19....
  20. This is my logic. Firstly I know alot of the government and those within power own assets. They have the power to influence our economy. As i am not as asset rich, they have alot more to lose than I do, if house prices crashed. Basically my medium range house props up the price of their ยฃ3 mill house or BTL empire. Historically prices have basically doubled every 10 years or so. When ever we run into financial trouble now, the BOE just prints or lowers interest rates, essentially eroding debt. When it comes to the media or propaganda, always think of its desired effect. If I was thinking of buying and interest rates are moving upwards, this forces me to move from contemplating to action. I do believe house prices can fall 10%, but not substantially enough to cause house prices to fall back to say the year 2000. Wages are rising, even minimum wage has risen 6.7% this year. So debt to wage ratio has fallen. Technology is increasing, the rise in gas and electricity can be offset by solar panels. I believe the outcome this year will be a continual rise in prices. I hold a different perspective to the majority on here.
  21. Her error, although it's not a reflection of the whole market. Properties at the top are more susceptible to price swings. Covid19 generated panic and people thought it was the end of days, escape London to somewhere more quite. Hmmm, the Birmingham Market is still quite aggressive, less stock coming on also. Prices still rising, all that money released into the economy is finding its way further down. Starter homes are increasing in price quickly around here.
  22. I don't know how anyone can overlook the fortunate postion the boomers had/have. Do millenials have access to huge amounts of social housing? Council housing, which after renting a policy came about to give a 30%+ discount on purchase? My generation has Help to Buy.... The fact that the population, was smaller with more empty houses? Then the mass influx of immigration, which has lead to less housing available for millenials, effectively increasing the price whilist restricting supply... Wether boomers want to admit it or point the finger at the government, you've had it better when it comes to housing. You can blame the government, if that makes you feel better. Although, it was you who lobbied the government. Its you who is within government and you have the most voting power. These are FACTS.... Boomers have more influence over the government and wealth thrn any other generation. Come on, you know my stance on house prices, but I'm not deluded, don't distort the truth.
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