interestrateripoff Posted March 2, 2017 Share Posted March 2, 2017 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? Quote Link to comment Share on other sites More sharing options...
Shea VanHaven Posted March 2, 2017 Share Posted March 2, 2017 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. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 2, 2017 Share Posted March 2, 2017 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. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 2, 2017 Share Posted March 2, 2017 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 ? Quote Link to comment Share on other sites More sharing options...
MARTINX9 Posted March 2, 2017 Share Posted March 2, 2017 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? Quote Link to comment Share on other sites More sharing options...
renting til I die Posted March 2, 2017 Share Posted March 2, 2017 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! Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 2, 2017 Share Posted March 2, 2017 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. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 2, 2017 Share Posted March 2, 2017 7 minutes ago, renting til I die said: I notice that it doesn't say how much they dropped between 2007-2009! That's #RealNews you're reading there !!!! Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted March 2, 2017 Share Posted March 2, 2017 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'. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 2, 2017 Share Posted March 2, 2017 7 minutes ago, renting til I die said: I notice that it doesn't say how much they dropped between 2007-2009! "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. Quote Link to comment Share on other sites More sharing options...
knock out johnny Posted March 2, 2017 Share Posted March 2, 2017 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 Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 2, 2017 Share Posted March 2, 2017 Last couple of days the usual MSM big guns are out ramping ready for the spring bounce. I hope to god prices go straight through the floor. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 2, 2017 Share Posted March 2, 2017 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*** ? Quote Link to comment Share on other sites More sharing options...
ChewingGrass Posted March 2, 2017 Share Posted March 2, 2017 I'm beginning to hate houses as much as I hate shiny overpriced German cars. Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted March 2, 2017 Share Posted March 2, 2017 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. Quote Link to comment Share on other sites More sharing options...
Darby Ram Posted March 2, 2017 Share Posted March 2, 2017 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. Quote Link to comment Share on other sites More sharing options...
MARTINX9 Posted March 2, 2017 Share Posted March 2, 2017 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. Quote Link to comment Share on other sites More sharing options...
ChewingGrass Posted March 2, 2017 Share Posted March 2, 2017 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. Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted March 3, 2017 Share Posted March 3, 2017 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. Quote Link to comment Share on other sites More sharing options...
billybong Posted March 3, 2017 Share Posted March 3, 2017 . 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. Quote Link to comment Share on other sites More sharing options...
Pieman Pieface Posted March 3, 2017 Share Posted March 3, 2017 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. Quote Link to comment Share on other sites More sharing options...
shindigger Posted March 3, 2017 Share Posted March 3, 2017 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. Quote Link to comment Share on other sites More sharing options...
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