Mapatasy Posted May 2, 2017 Share Posted May 2, 2017 UK house prices could be set for a decline, with ‘disastrous consequences’ http://www.whatinvestment.co.uk/uk-house-prices-set-decline-disastrous-2553568/ Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted May 2, 2017 Share Posted May 2, 2017 (edited) So a non-productive asset gaining in value faster than wages is "prosperity", or at the very least "not disastrous"? A big reason why I emigrated. Edited May 2, 2017 by canbuywontbuy Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted May 2, 2017 Share Posted May 2, 2017 Yeah yeah. Heard it all before. Too many props, cheap money and bums on seats. Only way is up.... for propertdee..... Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted May 2, 2017 Share Posted May 2, 2017 Quick won't someone think about those releasing equity and prop up the housing market. Wealth must be protected! Quote Link to comment Share on other sites More sharing options...
reddog Posted May 2, 2017 Share Posted May 2, 2017 Disastrous for who? Quote Link to comment Share on other sites More sharing options...
Digsby Posted May 2, 2017 Share Posted May 2, 2017 1 hour ago, reddog said: Disastrous for who? It's almost as if the bubble was not the disaster. Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted May 3, 2017 Share Posted May 3, 2017 4 hours ago, reddog said: Disastrous for who? So few people who own a home can afford to move out of it. "Young" (under 40s) people find property utterly unaffordable. Boomers are dying off. Not sure who is benefitting from high house prices, but they're in a small minority. Quote Link to comment Share on other sites More sharing options...
Freki Posted May 3, 2017 Share Posted May 3, 2017 12 hours ago, reddog said: Disastrous for who? Many people, a housing bubble popping has terrible side effects. It will be grim, economy in recession and all. Yes leveraged LL will be on the front line, but unemployment will rise and so on and so on. For JAM people it won't be fun. So aside people who feel extra secure that their jobs won't be affected by something like 2007, and with cash savings yes it can be an opportunity. Quote Link to comment Share on other sites More sharing options...
Freki Posted May 3, 2017 Share Posted May 3, 2017 Alright last sentence has two opposite thoughts intertwined and I can't find an edit button. Bottom line, few winners Quote Link to comment Share on other sites More sharing options...
EnglishinWales Posted May 3, 2017 Share Posted May 3, 2017 How will a hpc cause unemployment that doesn't make sense. I think it will be good if not vital for young people and only mildly uncomfortable for boomers. Certainly not disastrous. Except maybe for the tory party. Hahaha. Quote Link to comment Share on other sites More sharing options...
doomed Posted May 3, 2017 Share Posted May 3, 2017 This is one disaster I would welcome with open arms. Quote Link to comment Share on other sites More sharing options...
Funn3r Posted May 3, 2017 Share Posted May 3, 2017 51 minutes ago, EnglishinWales said: How will a hpc cause unemployment that doesn't make sense. More like unemployment causing HPC as the newly jobless cannot keep up mortgage payments? Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted May 3, 2017 Share Posted May 3, 2017 1 hour ago, Freki said: Many people, a housing bubble popping has terrible side effects. It will be grim, economy in recession and all. Yes leveraged LL will be on the front line, but unemployment will rise and so on and so on. For JAM people it won't be fun. So aside people who feel extra secure that their jobs won't be affected by something like 2007, and with cash savings yes it can be an opportunity. Very true - but coming off heroin is pretty awful too (I have heard). Doesn't mean to say taking it was a good idea in the first place. Quote Link to comment Share on other sites More sharing options...
Barnsey Posted May 3, 2017 Share Posted May 3, 2017 Needs to happen now or never, a necessary evil, they can use Brexit as their excuse if they want... Mortgage debt for over-65s set to double by 2030: report - Sky Newshttp://news.sky.com/story/mortgage-debt-for-over-65s-set-to-double-by-2030-report-10861143 Quote Link to comment Share on other sites More sharing options...
maverick73 Posted May 3, 2017 Share Posted May 3, 2017 3 minutes ago, Barnsey said: Needs to happen now or never, a necessary evil, they can use Brexit as their excuse if they want... Mortgage debt for over-65s set to double by 2030: report - Sky Newshttp://news.sky.com/story/mortgage-debt-for-over-65s-set-to-double-by-2030-report-10861143 Sadly the chancellors of the last decade have been aware of the gambit. They need to keep the economy purring, its a big game... notice the shift in politics from owning to renting... They cannot afford to crash the economy. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted May 3, 2017 Share Posted May 3, 2017 The real disaster was the incline, not the decline Quote Link to comment Share on other sites More sharing options...
AvoidDebt Posted May 3, 2017 Share Posted May 3, 2017 Is this thing finally crashing? On a global scale? See my thread on the complete and utter devastation engulfing Australia, following on from Vancouver and Toronto and with London knocking on the doors hard to join the party. Has anyone ever died from eating too much popcorn? Quote Link to comment Share on other sites More sharing options...
Errol Posted May 3, 2017 Share Posted May 3, 2017 (edited) 5 minutes ago, AvoidDebt said: Has anyone ever died from eating too much popcorn? Just enjoy the show: Edited May 3, 2017 by Errol Quote Link to comment Share on other sites More sharing options...
maverick73 Posted May 3, 2017 Share Posted May 3, 2017 1 minute ago, AvoidDebt said: Is this thing finally crashing? On a global scale? See my thread on the complete and utter devastation engulfing Australia, following on from Vancouver and Toronto and with London knocking on the doors hard to join the party. Has anyone ever died from eating too much popcorn? It depends on sentiment. if consumers stop buying, then prices have to drop to intince them. The country has sufficient supply of housing, the affordability of them is constrained by low wage growth and low interest rates. Quote Link to comment Share on other sites More sharing options...
spyguy Posted May 3, 2017 Share Posted May 3, 2017 8 minutes ago, Barnsey said: Needs to happen now or never, a necessary evil, they can use Brexit as their excuse if they want... Mortgage debt for over-65s set to double by 2030: report - Sky Newshttp://news.sky.com/story/mortgage-debt-for-over-65s-set-to-double-by-2030-report-10861143 "They will be more likely to trade up later in life and repay at least part of the mortgage from retirement income or draw more to fund needs in later life." Yesssss.... Ignore the boomer demographic collapse which we have just started, and the fact tha most people under 45 have much smaller pensions. In 10 years time the aerage 65 will be someone who's put £20 into a personal pension for 30 years. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted May 3, 2017 Share Posted May 3, 2017 7 minutes ago, AvoidDebt said: Is this thing finally crashing? On a global scale? See my thread on the complete and utter devastation engulfing Australia, following on from Vancouver and Toronto and with London knocking on the doors hard to join the party. Has anyone ever died from eating too much popcorn? What thread is that the "Faces it`s Demons" thread? Quote Link to comment Share on other sites More sharing options...
Freki Posted May 3, 2017 Share Posted May 3, 2017 54 minutes ago, iamnumerate said: Very true - but coming off heroin is pretty awful too (I have heard). Doesn't mean to say taking it was a good idea in the first place. I am just stating that it will be hard for a lot of people. And like in any crisis there are some winners. I would like to think I'll be one of them (worldwide shortage of skill in my work and non UK -EU- NA related job on a very safe niche...) But I know some people who are JAMs who will have a very difficult time. I can't care less than the LLs that have been milking me and so many will face reality. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted May 3, 2017 Share Posted May 3, 2017 Just now, Freki said: I am just stating that it will be hard for a lot of people. And like in any crisis there are some winners. I would like to think I'll be one of them (worldwide shortage of skill in my work and non UK -EU- NA related job on a very safe niche...) But I know some people who are JAMs who will have a very difficult time. I can't care less than the LLs that have been milking me and so many will face reality. I am not disagreeing with you, I think you are right. Sadly all scenarios house prices dropping,rising,staying the same will cause problems. A shame Blair/Brown didn't see this in 1999. Quote Link to comment Share on other sites More sharing options...
katchytitle Posted May 3, 2017 Share Posted May 3, 2017 9 hours ago, canbuywontbuy said: So few people who own a home can afford to move out of it. "Young" (under 40s) people find property utterly unaffordable. Boomers are dying off. Not sure who is benefitting from high house prices, but they're in a small minority. I think the baby boomers are the majority? No? They get to borrow against their asset and have a great time until they die. My view is all of these boomers are going to pass through inheritance or sell at roughly the same period in their 70s and then there will be tax to pay on a highly valued asset. After the tax man has had his cut the values will start dropping when the new generation actually extract cash to buy their own places, as they'll all be selling large places and wanting to buy something lightly more affordable. Plus if you had more than one child your value extracted is split into 2 etc. The pyramid scheme will continue because the young have not been taught to think for themselves. They enjoy being debt slaves with no ambition to excel, just be average and get some "stars" for attendance. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted May 3, 2017 Share Posted May 3, 2017 21 minutes ago, iamnumerate said: I am not disagreeing with you, I think you are right. Sadly all scenarios house prices dropping,rising,staying the same will cause problems. A shame Blair/Brown didn't see this in 1999. *I'm sure they did Quote Link to comment Share on other sites More sharing options...
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