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Mrs Bear

"seller Beware: It's Going To Get Worse."

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Double page spread with that headline.

Usual stuff, saturated market, vendors with only two viewings, etc.

'The sellers' market seen in spring has gone: now it's the buyers who have the upper hand.'

Tastiest morsel is the final para, though:

'Wherever you live, the message is clear; if you are struggling to shift your home, you should cut its price, or brace yourself for some stern words from your estate agent. "What we are going to do is have a big flush out of stock that has been on the market for two or three months," says Andrew Davidson, senior negotiator at Pritchards in Bath. "Owners need to review prices and, if they don't want to, we need politely to suggest that they try elsewhere." '

(ps, why does this site insist on turning capitals in headings into lower case??)

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Unfortunately I know somebody who really needs to sell their house at a certain price.

This has slightly tempered my otherwise-unalloyed joy at the deluge of tremendous bear news over the last fortnight.

I loved the Observer's 10% fall prediction. I presume they mean by Christmas. Whoosh.

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We broken the back of the job, by Xmas we be running headlong into a MEGA crash, a train weck of stunning size & scope. 200-300 years from now they be talking about it......."These are great days we living bro's"

Mike

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Unfortunately I know somebody who really needs to sell their house at a certain price.

This has slightly tempered my otherwise-unalloyed joy at the deluge of tremendous bear news over the last fortnight.

I loved the Observer's 10% fall prediction. I presume they mean by Christmas. Whoosh.

Yes, that's when a vendor ceases to be a head-in-the-sand muppet, scorned by all righteous HPCers - when it's someone you know and maybe love, who may be getting desperate.

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Unfortunately I know somebody who really needs to sell their house at a certain price.

OR ....?

If they need to attain a particular price they should begin to make other plans now.

I feel more and more certain that the crash is coming, that it will not only be significant but big. Big enough to be life changing for millions. Also long lasting - decade or so at least.

I am in the process of adjusting my aspirations for property upwards as I will be able to afford much more very soon. You see I want to buy somewhere to LIVE.

A point made above about house buyers being cautious over being seen to be buying a house is likely to be very pertinient in the near future.

You should feel about as sorry for them as they did for you (us) who were priced out of the market.

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Unfortunately I know somebody who really needs to sell their house at a certain price.

This has slightly tempered my otherwise-unalloyed joy at the deluge of tremendous bear news over the last fortnight.

I loved the Observer's 10% fall prediction. I presume they mean by Christmas. Whoosh.

I was talking to a single parent last night who has been juggling being a parent, looking after a ill parent and doing her low-paid public sector job.

Has to now put the house on the market to avoid bankruptcy and is hoping to get out with enough equity from a price that an EA has valued the house at - I hope she gets it but I doubt she will. Thankfully, the house is at the lower end of the market so perhaps she has a chance. But she is facing going on a housing association waiting list and her parent going into a home.

She has tried to do the best thing and it has nearly ruined her health and her finances. There are probably thousands of people, tens of thousands of people, like her across the UK.

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Despite all of us wanting lower prices, there will be many sad stories like the one above. Neg equity when you have to move must be awful.

Yes, many of us have been priced out, but in the longer term, there may end up being very, very few (older) winners.

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Guest Elephant_In_The_Room

The point I can never get my head around is why there is such a distinction between rented eviction and "homeowner" eviction.

A homeowner is just a renter with a large debt.

So why does nobody give a stuff about single mums, families etc being thrown out of rented (either for default or because LL gets cold feet) and yet when Homeowners get evicted it's the end of the world and everyone is standing around wringing their hands at the horror of it all?

Just a tad of Double Standards ?

p.s. with so little council housing, renters are at the mercy of fly-by-night landlords, making eviction much more common

Edited by Elephant_In_The_Room

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Yes, that's when a vendor ceases to be a head-in-the-sand muppet, scorned by all righteous HPCers - when it's someone you know and maybe love, who may be getting desperate.

OR ....?

If they need to attain a particular price they should begin to make other plans now.

I feel more and more certain that the crash is coming, that it will not only be significant but big. Big enough to be life changing for millions. Also long lasting - decade or so at least.

I am in the process of adjusting my aspirations for property upwards as I will be able to afford much more very soon. You see I want to buy somewhere to LIVE.

A point made above about house buyers being cautious over being seen to be buying a house is likely to be very pertinient in the near future.

You should feel about as sorry for them as they did for you (us) who were priced out of the market.

They are of an age where their options are very limited, and they are not the sort of person who would ever have started a pub conversation about how much their house was worth.

As they didn't crow about rising values equally they don't go on about their problems, but I think a second mortgage (or MEW as it is known) was taken out.

Don't get me wrong, I want prices to collapse but I won't be crowing about it to this person.

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They are of an age where their options are very limited, and they are not the sort of person who would ever have started a pub conversation about how much their house was worth.

As they didn't crow about rising values equally they don't go on about their problems, but I think a second mortgage (or MEW as it is known) was taken out.

Don't get me wrong, I want prices to collapse but I won't be crowing about it to this person.

To balance this, I know someone who I couldn't be happier to see being thrown out on the street. Has rubbed peoples faces in his huge mortgage and spent the windfall of low interest rates on holidays. He has become venal and self important, and looks a gift horse in the mouth.

A massive slap of reality would serve him well.

He is more important than others because HE HAS A MORTGAGE.

I loathe him.

Edited by Tonkers

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I dont delight in any bodies difficulty but an ********* of mine is about to MEW. She sees nothing wrong in it and can see no down side simply because the "consilidation" (what a misleading term) will mean (at the moment) she will be paying out less per month.

I learnt today that she is routinely borrowing petty cash from her employer and repaying it at the end of each week before it is missed.

Slippery these slopes arent they?

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I was talking to a single parent last night who has been juggling being a parent, looking after a ill parent and doing her low-paid public sector job.

Has to now put the house on the market to avoid bankruptcy and is hoping to get out with enough equity from a price that an EA has valued the house at - I hope she gets it but I doubt she will. Thankfully, the house is at the lower end of the market so perhaps she has a chance. But she is facing going on a housing association waiting list and her parent going into a home.

She has tried to do the best thing and it has nearly ruined her health and her finances. There are probably thousands of people, tens of thousands of people, like her across the UK.

Yes, and it's terribly sad. CAB offices across the country are no doubt inundated with similar. Friend of ours has been a volunteer for years and he's never been so busy, or found it so harrowing.

Yet you'll still get callous, unthinking tw*ts on here saying stuff them, it's all their own fault, who cares? There seem to be a lot of vast chips on shoulders of people who like to think that anyone who's bought a house - even a very ordinary one, just to live in - is smugly looking down on those who haven't.

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I was talking to a single parent last night who has been juggling being a parent, looking after a ill parent and doing her low-paid public sector job.

Has to now put the house on the market to avoid bankruptcy and is hoping to get out with enough equity from a price that an EA has valued the house at - I hope she gets it but I doubt she will. Thankfully, the house is at the lower end of the market so perhaps she has a chance. But she is facing going on a housing association waiting list and her parent going into a home.

She has tried to do the best thing and it has nearly ruined her health and her finances. There are probably thousands of people, tens of thousands of people, like her across the UK.

On this site we're a bit too quick to position home ownership/non-ownership as the key dividing line that separates economic misery/happiness. But that misses the point that the majority of the British population have seen their standard of living fall over the past year (wages +1.5%, RPI +5%), and are likely to see this decline in living standards for many years to come.

For most of us the future is one where each year we'll be a little bit poorer than the year before, where we can no longer afford the things that we used to enjoy. Anyone with big debts will feel the pain sooner and harder than the debt free, but very few will escape the pain completely.

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To balance this, I know someone who I couldn't be happier to see being thrown out on the street. Has rubbed peoples faces in his huge mortgage and spent the windfall of low interest rates on holidays. He has become venal and self important, and looks a gift horse in the mouth.

A massive slap of reality would serve him well.

He is more important than others because HE HAS A MORTGAGE.

I loathe him.

Did you buy his book? :blink:

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To balance this, I know someone who I couldn't be happier to see being thrown out on the street. Has rubbed peoples faces in his huge mortgage and spent the windfall of low interest rates on holidays. He has become venal and self important, and looks a gift horse in the mouth.

A massive slap of reality would serve him well.

He is more important than others because HE HAS A MORTGAGE.

I loathe him.

:lol::lol: good to see you arent taking this personally

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Yes, and it's terribly sad. CAB offices across the country are no doubt inundated with similar. Friend of ours has been a volunteer for years and he's never been so busy, or found it so harrowing.

Yet you'll still get callous, unthinking tw*ts on here saying stuff them, it's all their own fault, who cares? There seem to be a lot of vast chips on shoulders of people who like to think that anyone who's bought a house - even a very ordinary one, just to live in - is smugly looking down on those who haven't.

The person I was referring to has only one chance of getting on an housing association list - all the other local housing associations are swamped with people they have basically closed their waiting lists.

On a slightly different tact, I think the housing crash will happen in the coming 15 months assuming the Govt does not do a Gordon Brown but, longer-term, I think that housing will rise dramatically once we come out of this Depression simply due to the growing population issue and the fact that the Tories have basically brought to a halt plans to increase the building of new houses.

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I was talking to a single parent last night who has been juggling being a parent, looking after a ill parent and doing her low-paid public sector job.

Has to now put the house on the market to avoid bankruptcy and is hoping to get out with enough equity from a price that an EA has valued the house at - I hope she gets it but I doubt she will. Thankfully, the house is at the lower end of the market so perhaps she has a chance. But she is facing going on a housing association waiting list and her parent going into a home.

She has tried to do the best thing and it has nearly ruined her health and her finances. There are probably thousands of people, tens of thousands of people, like her across the UK.

A picture is emerging of millions of people living in households whose finances are reaching their elastic limit.

Its possible the extended govt. bailout/subsidy of households combined with excessive public & private borrowing is going to trigger something, I'm not sure what, that we haven't seen before. Could be the expected drop in house prices but over, say, 6 months instead of years. Would look near vertical on the long term graphs and create huge amounts of stress and anxiety until it bottomed. STRs on here would love it though.

Could be something else, or a combination.

Whatever it is, it will be bad and its frustrating not knowing in advance to be able to prepare/capitalise.

I really don't think sitting tight and hoping for the best is the answer for the people cited on this thread who 'must' sell at a given price.

They will end up evicted and o/s debt, won't they?

If so, right course of action is to talk realistically to their lender and agree an exit plan with a minimised o/s debt isn't it?

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:lol::lol: good to see you arent taking this personally

I would bore people senseless with all the reasons, but what is the interesting thing about this fellow is you can still see the nice person he used to be.

Edited by Tonkers

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STRs on here would love it though.

I'm a sell to renter, I feel some vindication, but not unalloyed delight! I bought and sold during the 1989-95 crash, what I saw then was plenty of bargains, but a real lack of good properties for sale. You could buy a blighted wreck at a realistic price, but the good family homes in decent areas were few and far between. I'm expecting the same struggle this time to find somewhere I actually want to live in.

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I would bore people senseless with all the reasons, but what is the interesting thing about this fellow is you can still see the nice person he used to be.

been there several times

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I'm a sell to renter, I feel some vindication, but not unalloyed delight! I bought and sold during the 1989-95 crash, what I saw then was plenty of bargains, but a real lack of good properties for sale. You could buy a blighted wreck at a realistic price, but the good family homes in decent areas were few and far between. I'm expecting the same struggle this time to find somewhere I actually want to live in.

i dont see this happening this time because of the different debt distribution, there are plenty of Bloo Loos schroedingers fat cats this time also debted up to their eyeballs, because theyve historically learnt that leverage was the way to wealth.

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  • 260 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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