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The Masked Tulip

Bbc News 24

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You know that programme they have on each weekend - they repeat it endlessly also - of several journalists sitting around talking endless politics...

Well, this afternoon they were talking about the economy and most seemed to think that it would nose-dive in the next 6 -12 months, especially once the rise in utility bills, council tax and taxes hit home next year. Said it was bad news for HPs.... although the girlie journo seemed to think HPs would be fine because she had seen no sign of them falling... 'Nuff said.

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Guest Charlie The Tramp

I remember months back on BBC Breakfast Dermot holding up a newspaper with a headline House Price Crash or something on those lines. Natasha pulled it down and muttered we don`t want to hear about that. Funny she was having trouble selling her house at the time, I believe in Notting Hill. :(

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I remember months back on BBC Breakfast Dermot holding up a newspaper with a headline House Price Crash or something on those lines. Natasha pulled it down and muttered we don`t want to hear about that. Funny she was having trouble selling her house at the time, I believe in Notting Hill. :(

Surely she should have been pulled up for that. They are supposed to be there it _report_ the news, not _edit_ it. :(

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I remember months back on BBC Breakfast Dermot holding up a newspaper with a headline House Price Crash or something on those lines. Natasha pulled it down and muttered we don`t want to hear about that. Funny she was having trouble selling her house at the time, I believe in Notting Hill. :(

Natasha's place is in Hammersmith, Georgian terrace.

She accepted an offer £50k below the amount she paid 4 years ago, then the buyer pulled out.

Bit tough as she's now married, and she jointly owns the place with her ex.

There's a likely candidate for a hefty price drop.

Pity she doesn't read this site, chances she'd be better just cutting losses and moving on.

Now if someone who eans £200k (or whatever) can't bear to stomach a 50k loss, can you imagine the effect on someone who earns £20k?

Well, this afternoon they were talking about the economy and most seemed to think that it would nose-dive in the next 6 -12 months, especially once the rise in utility bills, council tax and taxes hit home next year.

I think that's about right.

The economy tanks about 2 years after the housing market stalls.

Housing peaked in '73/74, economy tanked in '75/76.

Housing peaked in '88/89, economy tanked in 90/91.

This time the boom ended mid 2004.

As we can see what happens now is consumer spending dries up, jobs disappear, and the economy dives.

Next year is when the sh!t really hits the fan.

Edited by BandWagon

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yes, every time a pick up in the housing market is caused by favourable economic conditions, but as the boom gets going the cause and effect switch .............so instead of the economy driving the housing market ,the housing market drives the economy.............and we entered this phase 3 or 4 years ago......

Even our idiot chancellor has identified this.......and recently said our home market is too dependent on variable rate mortgages.......which make mortgagees and thus the economy more vulnerable to IR rises and cuts than the US and European economies .......where fixed rate (for 25 years) mortgages are the norm and it is considered financial suicide to take out adjustable rate mortgages although they are now getting a bit more common in the US .............

..

Edited by Michael

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I have paid more attention to house prices..

and until a year ago.. I didn't connect them to the greater economy..

As soon as I did.. I thought... hmmnnn.. in that case.. well high house prices can't be sustained..

then I found more eductated folk on here..

and I really researched it.. as we all have..

But when I pointed out to a FTB at work when he said that interest rates were not going to rise that Merv baby had suggested otherwise.. and would he like to see a transcript to a recent speach the guy had given..

He gave the old scoff and scorn approach..

Essentially he thought that as he was allowed to get into debt to a massive level he wouldn't be allowed to do so if it was risky....

I pointed out that house prices were a matter of opinion but debt was real..

he took offence and din't even listen when I appologised and said I was merely quoting the head of the bank of england.. the guy who sets interest rates...

only hearing what you want to hear won't always be helpful..

I did say perhaps a fixed rate mortgage.,... just incase..

Hope he listened..

anway.. everyones in so much debt the countries bugg**ed

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It is worrying that there are still a lot of people out there who are in total denial when considering making the largest financial comitment of their lives and refuse to consider potential risks to the economy & HPs.

Oh well, it is not going to be me losing sleep with a mortgage the size of the third world debt.

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Bit tough as she's now married, and she jointly owns the place with her ex.

There's a likely candidate for a hefty price drop.

Pity she doesn't read this site, chances she'd be better just cutting losses and moving on.

She's leaving for 6 months isn't she?

Edited by Charlie The Tramp

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But when I pointed out to a FTB at work when he said that interest rates were not going to rise that Merv baby had suggested otherwise.. and would he like to see a transcript to a recent speach the guy had given..

He gave the old scoff and scorn approach..

Essentially he thought that as he was allowed to get into debt to a massive level he wouldn't be allowed to do so if it was risky....

Allowed to? I think this is an advanced case of the Nanny State syndrome. Even those who think they are totally independent are often totally caught up in it anyway.

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  • 336 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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