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crash 2005

If People Panic Buy Petrol, Do You Think They'll

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On what timescale? I don't think they'll start to panic on a grand scale until later next year.Then again, I'm no expert, I'm still on a steep learning curve here.

*shrugs*

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On what timescale? I don't think they'll start to panic on a grand scale until later next year.Then again, I'm no expert, I'm still on a steep learning curve here.

*shrugs*

I'm thinking on the run up to Xmas, once they've had some hard data and media reports continuing to backup trevors report, and Negative Equity becomes a frequently used term.

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I'm thinking on the run up to Xmas, once they've had some hard data and media reports continuing to backup trevors report, and Negative Equity becomes a frequently used term.

Not this year IMO. Next year.

Edit: The EA's will tell them to wait for the 'spring bounce'. PMSL :lol:

Edited by libitina

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Yes BUT putting your house on the market and selling it are two different things...

Let's look at this...

The people that will panic sell are:

1. BTL - many will sell in panic

2. Some of those that have MEW'd to the max and now really know they don't have a hope if they don't sell at the top of the market - I doubt that many of these are savvy enough to sell now.

3. STR - too late for many to do this sensibly

The people that will have to sell will be:

1. Repossessed - in ever increasing numbers

2. Those that need to move quickly or because of inheritance etc

So it still looks like the old favourites - forced sellers and those that need a quick sale that will drive the market. With BTL as the joker in the pack.

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Thought this might be interesting given the media scare resulted in panic buying of fuel. and the trevor mac report on house values declining

I can't vote on this poll because I think different groups will act differently.

I believe that some people are panic selling already - or think they are by putting their house on the market, not necessarily lowering the price.

I believe that anyone who was getting uneasy and saw the Trevor McDonald programme will panic sell, although probably still trying to get a substantial profit.

And lastly all those (like the people featured in the programme) who don't look at house market movements, don't watch bearish programmes, don't read the bills that come through the door and just keep remortgaging, MEWing and spending will be the last to pick up on what is going on, they won't panic sell - but that doesn't mean they won't end up getting repossessed. I take no pleasure in the blinkered approach of this group as I know someone like this and she worrys me. I think a lot of people like this comfort spend (MEW) because they are unhappy already in their lives, for them things are only going to get worse. :(

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You've got it in one "crash 2005".

Add to your comments the following

Higher taxes,higher council taxes,higher gas and electricity prices and wait for it.......HIGHER INTEREST RATES to cool inflation.

Sit tight,be patient,form Xmas 2005 the UK economy will get worse,if that is possible.

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i can see newer BTL's panic selling, but probably very few OO's unless they are in danger of not being able to keep up repayments. Reason being most OO's are unlikely to want to uproot their families, most will be emotionally attached to their homes, won't like the idea of renting, no-one knows how much the market will drop by so STR could be a risk in itself depending on scale of falls and period required before rebuying adding in selling costs, removal costs, rebuying costs etc, and after all, most know the market is cyclical, and will choose just to weather the storm.

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Guest Bart of Darkness
You've got it in one "crash 2005".

Add to your comments the following

Higher taxes,higher council taxes,higher gas and electricity prices and wait for it.......HIGHER INTEREST RATES to cool inflation.

Sit tight,be patient,form Xmas 2005 the UK economy will get worse,if that is possible.

We are only at the begining of the downturn now.

Soft landing? More like a head-on crash into a mountain (of debt).

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I think panic buying petrol is probably more relevant to behaviour on the way up than on the way down. People were buying because everyone else was buying, and you don't want to get left out, do you? Not being able to consume in future essentially plays on the same fears as we have seen in this housing bubble.

If you want an indicator of what will happen with house prices, maybe it would be better to look at falling asking prices for gas guzzler 4x4s instead. I'm sure there will be a denial phase amongst sellers of these objects of so much hate, sellers will slowly chase prices down in disbelief.

/G

EDIT: added slowly

Edited by backtoparents

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Guest Bart of Darkness
Thats ok, you're a girl anyway aren't you?!!!

I hope so, otherwise The Monkey is in for a real shock! :blink:

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  • 301 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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