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Rain'ard

In Everything There Is A Season

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Yesterday (Sunday) I went to my local DIY store to buy a toolbox purely for ornamental purposes of course. I was surprised to find the place busier than of recent months. It was a beautiful day as well, when others were out enjoying the exceptional autumn weather. They were scratching and pecking over the home improvement section like greedy fowl once again. Is this a sign we are having an Indian summer of

a revival.

According to the amount of Sold boards springing up in Brighton of late I suspect this could be the case. However, I also think it’s going to be a hard winter for house sales, and this season may bring icy slippery hills and those unsteady underfoot will take a long slide down wards

Edited by wheresmyfoxhole

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Yesterday (Sunday) I went to my local DIY store to buy a toolbox purely for ornamental purposes of course. I was surprised to find the place busier than of recent months. It was a beautiful day as well, when others were out enjoying the exceptional autumn weather. They were scratching and pecking over the home improvement section like greedy foal once again. Is this a sign we are having an Indian summer of

a revival.

Or maybe these are desperate sellers who can't sell but have decided to 'Sarah Beeny' the place (you know, splash and dash amateur 'improvements') in order to vainly try improve their chances of a sale...

Nomadd

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According to the amount of Sold boards springing up in Brighton of late

Interesting as I have seen the same in Bristol ... a HPC is some way off and if the BOE continues to lower rates it may be avoided entirely (but if that is the case I am taking all my cash out of this debt based UK PLC as I see big economic problems ahead).

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Interesting as I have seen the same in Bristol ... a HPC is some way off and if the BOE continues to lower rates it may be avoided entirely (but if that is the case I am taking all my cash out of this debt based UK PLC as I see big economic problems ahead).

Don’t be disheartened, there are still some out there who are like those World War 2 Japanese soldiers stuck on a Pacific island not knowing the wars been over for years

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Interesting as I have seen the same in Bristol ... a HPC is some way off and if the BOE continues to lower rates it may be avoided entirely (but if that is the case I am taking all my cash out of this debt based UK PLC as I see big economic problems ahead).

Are you forgetting to factor in the probability that a lot of these SOLD properties have gone for considerably less than the asking price?

In a sense, a greater turn-over of sales may be a good thing 'crash-wise', as it may suggest that sellers are finally accepting that prices have fallen. In terms of current market sentiment, someone stuck in a chain is more likely to accept a lower offer on their place if they themselves have had a low offer accepted on the place they're buying....and on it goes...

2 years ago, the mentality was: " Oh, I can afford to offer asking price on that place if I hold out for my own asking price..."

It looks like the sellers may have blinked first... :blink:

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Are you forgetting to factor in the probability that a lot of these SOLD properties have gone for considerably less than the asking price?

In a sense, a greater turn-over of sales may be a good thing 'crash-wise', as it may suggest that sellers are finally accepting that prices have fallen. In terms of current market sentiment, someone stuck in a chain is more likely to accept a lower offer on their place if they themselves have had a low offer accepted on the place they're buying....and on it goes...

2 years ago, the mentality was: " Oh, I can afford to offer asking price on that place if I hold out for my own asking price..."

It looks like the sellers may have blinked first... :blink:

They may have sold for 10K or so under - they may also not complete and be stuck in a chain ... but the point is that the HPC is not here yet and the market is not dead in the water. It's still ticking over and in some areas of the country things are still OK.

I am happy to wait and have plenty of patience as my rent is far cheaper than if I bought the property I currently live in. I just believe its too early to call the crash and believe that tinkering by BOE et al may delay this for much longer, but the costs could be huge to those that are prudent and have savings. As for the implications for pensions I shudder to think. Many aren't saving and are piling up huge debts some of it is on secured assets such as housing (which they are unlikely to pay of with low interest rates in time for retirement). The whole situation is very worrying ...

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Wouldnt be susrprised if a lot of mugs have bought the "buyers market" line and think that by negotiating 8% off asking price they are getting a fantastic deal.

Even on HPC we've seen committed posters buy up and talk with enthusiasm for how good a deal they've got.

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Wouldnt be susrprised if a lot of mugs have bought the "buyers market" line and think that by negotiating 8% off asking price they are getting a fantastic deal.

Even on HPC we've seen committed posters buy up and talk with enthusiasm for how good a deal they've got.

Yes, but's it's going to take those sales to make the decline happen; we can't have a stand-off for 3 years with sellers & buyers not budging and all of a sudden 30% off overnight...the crash is happening now but it's going to take a while. And as it happens, it will suck buyers in who believe they're getting a good deal and have called the bottom. ;)

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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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