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House Price Crash Forum

petetong

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Everything posted by petetong

  1. Looks like some are preparing: 90,000 from Hong Kong apply to British visa scheme
  2. He got bad press the last time he opened his lying mouth so is now is being more cautious, and yes they will do feck all again...
  3. Traders make £2bn bet against the pound "Traders have wagered a £2bn bet on a plunge in the pound after the Bank of England failed to deliver on a widely expected interest rate rise earlier this month. Shorts predicting a pound slump have soared to their highest level since June 2020, weekly trading data suggests. It marks a sharp reversal from just a few weeks ago, when bets for the pound were at a near four-month high as investors geared up for a string of rate rises to curb the surge in inflation."
  4. Comment from said article: I work for a NYSE listed tech company. During the pandemic it was believed fully remote working would become the norm and numerous people left the Capital for rural backwaters. Last month at a Company Town Hall it was announced that we were moving to a hybrid model allowing people flexibility but full remote was NOW definitely off the table. A close friend and work colleague made the move to South Devon last September and now has his house on the market. He had made the journey from Totnes to London a few times and the thought of doing it every week or even every 2 weeks is just too much for him. His wife is also going crazy, none of her favourite shops, no decent restaurants, no Uber, small town mentality and she feels like she needs glamour back in her life. Anyway it seems the craziness has just dropped out of the market and the local EA who sold the house to him is now suggesting £85k less to attract buyer interest. Luckily he can afford to take the loss but the real problem is that houses are just sticking with no viewings and what he has realised is that in these Devonshire rural backwaters things can hang on the market for years. This one off demand for rural property that Covid sparked has gone and the prices the houses were on for are not in the reach of local buyers or the usual suspects. He has just started writing a blog about being trapped in Devon and found ALOT of people in the same boat already. Of course some areas in Devon are still HOT for now and people will suggest that their area is different but I think the general consensus is that after Christmas the momentum will really swing the other way everywhere in Devon. I can only imagine the chaos in a years time when the property market is tanking with increasing interest rates. 🤣
  5. You should post this on their twitter account.😆
  6. I can't believe interest rates will go up anymore, it will be a token gesture at most. This is the new way, ultra low interest rates, if not negative rates and cheap cheap debt, debased currency.
  7. Won't happen, now we have Pfizer's wonder drug which basically prevents deaths and serious illness, together with vaccines. Also explain the rational for -ve interest rates when inflation is going through roof ? Yes, they won't raise interest rates much if it all, unless forced to by external factors beyond their control but -ve interest rates don't seem plausible at the moment.
  8. It's already slowed down by me, up north. 5 semi's on the market in one of best area in town, would have all sold within a week or two a matter of a month ago, only the cheapest by 10-15% has sold after 4 weeks.
  9. " Shameless f****** liars. I thought I was pessimistic ... if they don't or in the very near future then you are correct and house prices trump everything including the ability of people to feed themselves ...
  10. https://www.theguardian.com/business/2021/oct/18/bank-of-england-inflation-bailey-interest-rates-energy-prices
  11. Chesterfield: https://www.rightmove.co.uk/properties/109137620#/?channel=RES_BUY Offers in Excess of £215,000 Monthly mortgage payments Reduced on 09/09/2021 Price Change History 09/09/2021 Price changed from £230,000 to £215,000 15/07/2021 Price changed from £250,000 to £230,000 19/06/2021 Initial entry found: £250,000
  12. Interesting study announced on news today looking at levels of biodiversity in different countries around the world. Guess which one had the lowest level of biodiversity globally, yep you guessed it the UK, due to the industrial revolution and developments since then, and high population density. It said this has serious negative impact on the ecosystem we rely on. I doubt the situation will improve.
  13. Get it down to £150K and it might be worth looking at 🤣
  14. I've seen a few expensive semi's in good areas, come back on the market this week. Wasn't seeing that before. Assuming its people getting cold feet with the end of furlough and cost of living increasing. Speaking to an EA he reckoned 1/3 of sales are falling through, which seemed a high figure and can't see any evidence for that.
  15. Do the posters who think life will go similar to now, with house prices increasing somewhat in some cases, in the coming year or two, think Roubini's predictions are wrong ( double digit inflation / stagflation or a depression ) ?
  16. I posted his predictions in another thread and was told he was an idiot because of his views on crypto 🤣
  17. Yep lots of tweets saying they were fair game for undercutting and poverty pay, in response to an ex HGV driver who said he quit when his pay was more than halved in recent years.
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