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As someone who sold to rent in 2005 I certainly hope you're right, but there's still some hurdles to cross. I've two big worries.

First is that without forced sellers we'll just see many properties withdrawn from the market, and the "crash" will then play out as small falls in nominal prices, but big falls in real prices over several years. In other words the market may only dip a bit then basically stay flat for maybe ten years, with most of the correction being done by inflation nibbling away at "real" prices. I'm getting sick of renting after five years and don't want to wait another ten years before buying. I hate for my future to be at someone else's expense, but unless the government cuts start to translate into massive public sector job cuts, I'm not sure where these forces sellers will come from. Mortgages are so cheap now that most home owners can afford to pull in their horns and hang on.

Second is that it's the good properties that get withdrawn from the market first. I saw this in the 1989-95 crash, estate agents windows were full of properties, some of it at reasonable prices, but it was all crap. Gloomy north facing gardens, no off-road parking, cowboy extensions, bad locations, etc, etc. If all I can buy is some blighted property then why did I bother selling up five years ago?

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Am as p1ssed off waiting as the rest of you, i still have a Smiling mother f*cker driving about in my area in a new 3 series drop top Lease hire. Oh do i wish to wipe his smile face...........i BOUGHT my car via HARD WORK & with out LOANS or LEASE.

Mike

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Am as p1ssed off waiting as the rest of you, i still have a Smiling mother f*cker driving about in my area in a new 3 series drop top Lease hire. Oh do i wish to wipe his smile face...........i BOUGHT my car via HARD WORK & with out LOANS or LEASE.

Mike

Right there with you. I have been talking of changing car recently and am often met with the response of, "But you have only had it for 2 years - isn't it paid off yet?"

I paid in full when I collected it, as I did with my previous car of five years.

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Right there with you. I have been talking of changing car recently and am often met with the response of, "But you have only had it for 2 years - isn't it paid off yet?"

I paid in full when I collected it, as I did with my previous car of five years.

borrowing money to buy an asset that is guaranteed to hugely depreciate is muppetry of the highest order. In fact, buying a new car is pretty stupid too.

3 - 4 year old cars bought with cash is the best way to go.

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Am as p1ssed off waiting as the rest of you, i still have a Smiling mother f*cker driving about in my area in a new 3 series drop top Lease hire. Oh do i wish to wipe his smile face...........i BOUGHT my car via HARD WORK & with out LOANS or LEASE.

Mike

Yeah well that's UK I am afraid.. Have you thought about changing Country?

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borrowing money to buy an asset that is guaranteed to hugely depreciate is muppetry of the highest order. In fact, buying a new car is pretty stupid too.

3 - 4 year old cars bought with cash is the best way to go.

Yep - but if you have cash it's your prerogative what you buy with it. When you earned it, you earned the right to do whatever you want with it.

The real muppets are those who borrow to consume. Utterly, utterly stupid.

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Am as p1ssed off waiting as the rest of you, i still have a Smiling mother f*cker driving about in my area in a new 3 series drop top Lease hire. Oh do i wish to wipe his smile face...........i BOUGHT my car via HARD WORK & with out LOANS or LEASE.

Mike

Michael, I know just what you mean but shouldn't you be looking at the bigger picture and aiming higher? I won't be happy until I can do a Brigade Rosse on Terry Leahys ass and make Spotty Orbourne cry.

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Second is that it's the good properties that get withdrawn from the market first. I saw this in the 1989-95 crash, estate agents windows were full of properties, some of it at reasonable prices, but it was all crap. Gloomy north facing gardens, no off-road parking, cowboy extensions, bad locations, etc, etc. If all I can buy is some blighted property then why did I bother selling up five years ago?

agreed

We saw the same in 89-95; it was damn hard to find anything worth buying. And the same now - houses with big reductions are the ones people want shot of. The decent houses tend to just get taken off the market if there's little sign of achieving what's wanted.

Sure there are some people wtih desirable houses who are forced sellers, but not many, pro rata

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  • 238 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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