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WageWar

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

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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.


 

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

Brexit hasn't really worked has it. Nothing has changed and we have more of the same. Just a different set of political hijackers. I even saw Guido Fawkes trumpeting high house prices as evidence that Brexit is working and that the doom mongering Remainers were wrong.

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Homeowners always think their house will rise in value as will homebuyers, if they didn't they would a] put off buying and b] wouldn't spend money on 'home improvements'.

Confidence is everything.

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1 hour ago, WageWar said:

Brexit hasn't really worked has it.

It was never supposed to 'work'. UKIP had their bluff called and will be held to account in 5 years - even Farage is backpeddling and saying it was all to control immigration.

 

You won't get any more for the NHS

You won't control immigration

You won't control your own laws away from vested interests

You won't be able to create a future for yourself.

 

Orwell got it right....

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Brexit by itself will not cause the crash. The main reason behind the bubble is CREDIT. This has been too readily available due to the following events:

1) dot-com crash (central banks and govs culpable)

2) 9/11 means ultra low interest rates in the US = sub-prime crash (central banks and govs culpable)

3) resulting financial meltdown responded to by money printing = further house price inflation (central banks and govs culpable)

The only reason central banks have gotten away with such low rates for so long is because of the existing deflationary environment. 

But the game is up. Interest rates are going up, and they will continue to go up as the US experiences relatively high growth and inflation makes a come back. 

The FED will hike rates this month. Carney will be forced to raise rates. He dropped them after Brexit, and that is why we are in the calm before the storm. It bought the housing bubble a few more months. But Brexit has created the conditions for a definitive series of rate rises, as the pound is getting trashed and the B of E will have to raise rates to protect it.

So Brexit will eventually succeed! 

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2 hours ago, ChewingGrass said:

Homeowners always think their house will rise in value as will homebuyers, if they didn't they would a] put off buying and b] wouldn't spend money on 'home improvements'.

Confidence is everything.

100% - It's a confidence game. Once sentiment drops, the market will drop. 

It'll take a while for the EU migrants to head back (and subsequently no longer be renters) and I can imagine EU migrants looking to move here are considering other options (countries that will remain in the EU for instance).

Brexit will reduce prices, it'll just take time.

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1 hour ago, Bhoy said:

100% - It's a confidence game. Once sentiment drops, the market will drop. 

It'll take a while for the EU migrants to head back (and subsequently no longer be renters) and I can imagine EU migrants looking to move here are considering other options (countries that will remain in the EU for instance).

Brexit will reduce prices, it'll just take time.

If Brexit is handing in our notice....we are still arguing the content of our resignation letter.

The real proof will be a fews months into negotiations.

There is a good chance that it will all be for 0 since if Le pen wins or the crisis deepens the party could be over before we even finish talking about leaving.

Our economy is so goosed on cheap credit any scenario is bad unless that scenario involved even cheaper credit for ages.

Edited by Fromage Frais

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