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Redrow In Trouble

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He said next year there should be a "gradual" rise in prices but there was unlikely to be a strong take-off for the market, after the soft landing seen last year.

I like this 'soft landing' phrase. Like its meant to appease people.

They probably mean to say 'imagine a soft landing without a parachute'. More accurate.

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I like this quote :

"We are reasonably encouraged for spring but it all depends on consumer confidence. On how people feel about taking on new commitments, a small interest rate cut would be helpful,"

Yeah that will help pay off a 25 year mortgage on a shit pile in a sink estate. :rolleyes::rolleyes::rolleyes::rolleyes:

Edited by shakerbaby

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Redrow, a leading housebuilder warned that the health of the market now depended on the fragile state of consumer confidence.

This is important.

Redrow are admitting that the only thing propping the housing market up now is how confident people feel about property prices rising.

It is hardly surprising then that the rest of the article is devoted to propping up consumer confidence in relation to property.

It also explains why some people feel that trolling this site is worth doing.

Redrow should realise though that consumer confidence is unlikely to build when the average consumer is in so much debt.

On a seperate point a lot of people have taken heart from the fact that consumers have increased the amount of money in their savings and that this is a good sign. However, having been on another forum where several people were talking about starting to save I was less than comforted. These people were admitting to debts (not mortgage debt) of, in some cases, over £30,000 but saying they had decided to put off repayments because they wanted to start some savings. In one case someone was putting off repaying their debts (making the minimum payments on credit cards) because they wanted to save up to get married. Although it is good that they have clearly decided that they don't want the wedding to increase their debt burden I can't help thinking that this move towards minimum repayments on the credit card and opening a savings account is missing the point just a little bit.

Consequently I feel that many businesses are desperately hoping consumer confidence will pick up all the while ignoring the fact that many people today don't seem to know what debt is and many seem to have no clue as to the importance of repaying it!

Redrow and others like them can spin and hope all they like - it won't work.

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and their share price has fallen 3 and 3/4%.

I must admit that I thought the builders shares would of all started to slump by now. I wouldn't want shares in builders right now.

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Have a look at the mirror: http://www.mirror.co.uk/mirrormoney/yourmo...-name_page.html

"REDROW yesterday asked the Bank of England to cut interest rates."

Oh right, I didn't realise it worked like that. I'm just gonna ask the BoE to raise interest rates, because I want a better return on my savings! I'll say please x3!!!

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So redrow have admitted that only perception of house prices rising will cause the prices not to fall further..

Now why would the perception be that.

REad this thread and I hope you feel angered and also empowered as this admission from the BBC is (I think) the most important thing we have seen only just behind Sipps.

http://www.housepricecrash.co.uk/forum/ind...showtopic=21553

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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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