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interestrateripoff

Brexit: UK homeowners and buyers still confident house prices will continue to rise

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http://www.independent.co.uk/news/business/news/brexit-latest-news-homeowners-buyers-house-prices-rise-market-eu-departure-a7607626.html

Quote

Brexit has not dented British homeowners’ and buyers’ confidence in the housing market despite fears that the decision to leave the EU would cause prices to collapse.

More than 80 per cent of Brits said Brexit has had no impact on their plans to buy or sell their property, according to a Clydesdale and Yorkshire Banks survey, published on Thursday.

Just five per cent of those surveyed thought prices would fall over the next twelve months while nine in ten thought the value of their home would increase or stay the same during that time.

When people don't recall the crashes and even then prices recovered and went up, why would people think anything else?

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23 minutes ago, interestrateripoff said:

http://www.independent.co.uk/news/business/news/brexit-latest-news-homeowners-buyers-house-prices-rise-market-eu-departure-a7607626.html

When people don't recall the crashes and even then prices recovered and went up, why would people think anything else?

It's not always to do with house prices.  The "positive thinking" regarding  polls of this nature merely reflect the  respondent's  overwhelming desire to underscore their superior intellect and reaffirm why they spend so much money every month on sleeping quarters while 'being taken to fookin' cleaners" by those who look down on them with utter contempt.

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30 minutes ago, interestrateripoff said:

http://www.independent.co.uk/news/business/news/brexit-latest-news-homeowners-buyers-house-prices-rise-market-eu-departure-a7607626.html

When people don't recall the crashes and even then prices recovered and went up, why would people think anything else?

Debt pushers say keep taking debt.


When all they have is peoples "confidence"  in the market you know they are in trouble.

You'd have to be one thick**** to have confidence in the UK housing bubble.

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Here's the best bit

 

"  

London home prices have surged about 86 per cent since 2009, meaning values are now 14.2 times annual gross earnings

"

 

Are you confident ?

 

 

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If you own a home you are going to sell or are intending to buy a home its self reinforcing isn't it - why would you want prices to fall?

Did they poll any renters who are priced out?

Given most people move on average - excluding renters - every 20 years why would last June's vote cause them to up sticks and move anyway?

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7 minutes ago, TheCountOfNowhere said:

Here's the best bit

 

"  

London home prices have surged about 86 per cent since 2009, meaning values are now 14.2 times annual gross earnings

"

 

Are you confident ?

 

 

I notice that it doesn't say how much they dropped between 2007-2009! :rolleyes:

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8 minutes ago, MARTINX9 said:

If you own a home you are going to sell or are intending to buy a home its self reinforcing isn't it - why would you want prices to fall?

 

If prices fall, it's cheaper to trade up...EVERYONE bar the rich at the top and the pensioners should want a fall.

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6 minutes ago, TheCountOfNowhere said:

If prices fall, it's cheaper to trade up...EVERYONE bar the rich at the top and the pensioners should want a fall.

That this simple concept is so difficult to get people to grasp is at the root of this countries problems. People. Are. Daft. 'Big mortgage' == 'One of life's winners'.

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7 minutes ago, renting til I die said:

I notice that it doesn't say how much they dropped between 2007-2009! :rolleyes:

"In some London boroughs such as Merton, Bromley and Kensington and Chelsea, more than a third of sellers have had to reduce asking prices in order to achieve a sale."

 

Errr.....the report I read said 1/3 had droped their asking prices...there was no mention of them achieving a sale.

 

 

 

 

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You guys just need to go to the Brexit thread in current affairs - Brexit is apparently a wonderful thing that is going to liberate us from the shackles of the EU and lead us to the sunny uplands, so of course people are overpaying from houses; they only go up

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Are alarm bells not rining for people when they read london prices have all but doubled despite there being a crisis and are now 14+ x average salary !!!!

 

Holy *** how can these shysters bring themselves to publish this s*** ?

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Just now, ChewingGrass said:

I'm beginning to hate houses as much as I hate shiny overpriced German cars.

Heh I've always preferred cars/bikes over houses. One gives you freedom, the other is a ball and chain.

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British homeowners are completely immune to facts on the relative performance of housing as an investment. It's never, ever going to sink in that there are better ways to use your money with the HPI generation. Generation rent might make different choices out of necessity, but the existing stock of homeowners are simply never going to change their mind.

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41 minutes ago, TheCountOfNowhere said:

If prices fall, it's cheaper to trade up...EVERYONE bar the rich at the top and the pensioners should want a fall.

I agree - but most Brits can't do basic maths.

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Average British semi outside London 1987 £32K value now £250K total mortgage payments to date £126K, ignoring maintenance costs, selling fees, stamp duty etc.

250K -126K = 124K less costs

Bog standard investment averaging a poor 3.5% return over 30 years starting a £0 and paying in £350/month.

£187K

Houses as investments are not worth the hassle, houses as short term speculation possibly are.

Plebs do not have the patience for simple compounding but can understand something they can see/touch/bragg about and monitor on rightmove.

p.s. London is driven by speculation driven demand more or less everywhere else isn't.

 

 

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13 hours ago, TheCountOfNowhere said:

Are alarm bells not rining for people when they read london prices have all but doubled despite there being a crisis and are now 14+ x average salary !!!!

 

Holy *** how can these shysters bring themselves to publish this s*** ?

Average people on average salaries don't buy in London.

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.

Quote

 

https://www.theguardian.com/politics/2016/may/20/eu-referendum-george-osborne-house-prices-brexit

House prices could take an 18% hit over the next two years and there will be an “economic shock” that will increase the cost of mortgages if the UK votes to leave the EU, George Osborne has warned.

 

and in London 14.2 times annual gross earnings.

When did the dictionary change the definition of the word confidence to now mean crazy.

Mind you it was Osborne claiming the 18% hit so maybe that explains it. 

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Most people see house prices as a result of lack of available housing stock and that its simply the right thing to do to own your own home, therefore houses will always be in short supply. 

There is truth to that, but if you start mucking about with a lot of other factors, like increasing interest rates, Brexit, economic crash.. then suddenly all that goes out the window and everything you previously believed doesn't stay true.

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I've had my house on the market for 8 days. Had one viewing.  

Lots coming on. Photographer said he's never been so busy.

Spring bounce my ****.

Its dead as a door nail.

Nth Dorset.

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