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Mew Spike In September Is One Out Of Desperation

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I read an interesting article in Moneyweek this week. It studied the % of that MEW is as part of household income. MEW has been coming down from its peak in 2003. however we saw MEW rising again the last month. The same thing happened in 1989 when mew suddenly went up while houseprices were already on the way down. The explanation is that the spike in mew we saw then and we are seeing now is one of desperation. People are using mew now because they can not make ends meet.

This mew spike will lead to reposession and negative equity.

<_<

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ANECDOTAL

I know that a colleague at work is MEWing £5K to pay for a kitchen refurb, now that selling the house seems impossible.

I can't imagine why he wants to do this, but there you go.

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The explanation is that the spike in mew we saw then and we are seeing now is one of desperation. People are using mew now because they can not make ends meet.

It could also be 'last time sellers' hurrying up and selling as quickly as possible before prices decrease further. Is there any evidence to rule this out?

Thanks,

MoD

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It could also be 'last time sellers' hurrying up and selling as quickly as possible before prices decrease further. Is there any evidence to rule this out?

Thanks,

MoD

Could be just rushing out to buy useless crud in those desperate sales we are seeing across an increasingly beleagured retail sector... :rolleyes:

Edited by mbga9pgf

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May be they're MEWing to consolidate all their other debt?

Credit card loans aren't getting any cheaper you know? Some may even be MEWing before they declare bankruptcy i.e. they intend to default on their mortgages in the not too distant future. :unsure:

In for a penny, in for a pound, as the saying goes...

In fact that is good advice for anyone in dire straits

MEW to the Max, credit cards and loans to the max, then go bust

Its always a bad idea to approach the receiver with house equity (and never wear a rolex

)

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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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