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House Price Crash Forum


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About petetong

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  1. According to "Bailey the slug" in the select committee grilling today 80% of inflation is due to energy and food price hikes and the ukraine war. Nothing to do with near zero interest rates of the BoE or the government giving hundreds of billions away in the plandemic.
  2. I hope the fat useless slug that is Bailey is replaced with someone with a clue and some balls ... fat chance probably.
  3. It appears they think the biggest risk to them is a collapse in house prices. They don't care if the poor can't eat or heat and pensioners have to live on a bus to keep warm, given most won't vote for them. As long as their voters house prices stay at the current level or higher they think they are good in the polls. Plus of course they don't want their own property portfolios to decrease in value.
  4. BBC said it was 6 to 3 in favour ?
  5. Yep unfortunately i think you are right. Right to buy housing association property was probably the first attempt at that.
  6. It will but development in robotics/AI/machine learning is moving very quick: "Their robots can easily walk, climb stairs, navigate unstructured environments, carry packages, stack goods, and work indoors or out, all of which are skills that were elusive within robotics development even a short time ago." No doubt these or a variation of them will replace humans or most of them at some point at Amazon: https://www.zdnet.com/article/amazon-invests-in-robots-that-work-alongside-humans/
  7. I've seen lots of IT roles go in the last decade due to offshoring and cloud requiring less staff partly due to the automation it can use. I think the general trend will be less not more/same.
  8. The difference this time is that instead of manual jobs being automated, its "cognitive" roles that will go. If true, that is a whole swathe of white collar/professional jobs gone. What's going to replace those given we are largely now a service based economy, being in an influencer ?
  9. If most work is automated, meaning many jobs no longer exist, how will house prices be sustained. I've read up to 90% of jobs will be impacted to some degree.
  10. Agree 100%. They will have no choice but to raise interest rates if the Fed does is my understanding. I hope that is correct.
  11. "Because the post-lockdown rush has died down, she has only been able to sell the property for just under £1.9m. That is 14pc less than she paid for it, meaning she has lost more than £300,000, plus fees. “There are still far more buyers than sellers, but a little more reality is starting to creep back into the market as it starts to slow down,” said Mr Warner." "Jennie Hancock, a West Sussex buying agent, noted another client who in the summer of 2020 bought a house near West Wittering for over the odds. “It had a guide price of £2m, and went to telephone bids. We suggested that they pay a maximum of £2.3m or £2.4m. They bought it for £2.7m,” said Ms Hancock – 35pc over the asking price." https://www.telegraph.co.uk/property/uk/property-seller-overpaid-pandemic-frenzy-made-300000-loss/
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