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TheCountOfNowhere

BBC FRONT PAGE: HOUSE PRICES FALLING !!!

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The excellent thing is sentiment with the average Joe has now changed and sentiment change is underestimated in its effect. It tends to snowball and the fall in prices will accelerate.

Downward spiral will be exacerbated by YoY "negative influences" - decrease in tax relief next 4 years. Uni towns losing up to 40% of EU students who will be forced to pay top wack fees, and E Europeans stating to go home (especially when £ tanks).

 

So sentiment change plus future further negative drivers. Great news

 

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12 minutes ago, Gigantic Purple Slug said:

Hmmm.

Election imminent. All of a sudden house prices falling on front page plus have your say comments for the first time in ages on a house price article.

I suppose you take what you can get.

The begging bowl is out for moar stimulus 

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"House prices likely will continue to be underpinned by a shortage of supply, due to the high moving costs faced by existing homeowners"

Doesn't the high cost of moving reduce demand by an equal amount? Unless they're moving into a tent, I suppose. 

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24 minutes ago, darkmarket said:

Looks like Christmas there, savour the moment - you deserve it more than anyone.

Popcorn time has truly begun.

I'm 50/50 on whether or not the bankers/government now want the crash and will not stop it.  I'm still expecting them to throw EVEN more at this and subvert BrExit.  Only time will tell.

The crash in prices wont benefit me personally but maybe my children will have a future.

It's been a long slog watching this unfold, it has gone way beyond house prices, that's the bit the ejiits on MSE etc don't seem to get.  The population is being robbed and they think they're winners :lol:  :lol:  :lol:  :lol:  :lol: 

Edited by TheCountOfNowhere

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UBS or Credit Suisse, can't remember which posted a listing with London being Top 2 of most overpriced housing in the world with label: high risk

Banks must be quite aware.

I mean, the party has to end, and if they have a bit of foresight, either they have a valid longterm solution that does not implies price reduction, or they let it go and don't create any further problems, harder to deal with in the future.

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22 minutes ago, Freki said:

UBS or Credit Suisse, can't remember which posted a listing with London being Top 2 of most overpriced housing in the world with label: high risk

Banks must be quite aware.

I mean, the party has to end, and if they have a bit of foresight, either they have a valid longterm solution that does not implies price reduction, or they let it go and don't create any further problems, harder to deal with in the future.

I recall that.  They know exactly what they are doing.

They will collect on their 20/40% HTB windfall and reposses when the time comes.

People have walked straight into this.

I'm with Venger on the while "**** 'em" they made their choices, they have the same info everyone else has access to, their problem.

Where is Venger BTW, has he left ?

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34 minutes ago, TheCountOfNowhere said:

 

Where is Venger BTW, has he left ?

His conciousness has been uploaded into the space time fabric, where he reports all the other uploaded deities are up to their eyeballs in 5 dimensional btl with no money down and are screwed if interest rates rise.

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2 minutes ago, Si1 said:

His conciousness has been uploaded into the space time fabric, where he reports all the other uploaded deities are up to their eyeballs in 5 dimensional btl with no money down and are screwed if interest rates rise.

:D

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11 minutes ago, Si1 said:

His conciousness has been uploaded into the space time fabric, where he reports all the other uploaded deities are up to their eyeballs in 5 dimensional btl with no money down and are screwed if interest rates rise.

Ahh, he's on holiday.

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4 minutes ago, hotairmail said:

No. He is in Off Topic having an aneurism.

Well, I hope he's just busy and is okay.

I've know of at least 2 long time posters on here who have been (very) sick and had to go awol.

How much of the stress of having to live through this bubble mania is responsible will never be known.

 

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2 hours ago, Freki said:

UBS or Credit Suisse, can't remember which posted a listing with London being Top 2 of most overpriced housing in the world with label: high risk

Banks must be quite aware.

I mean, the party has to end, and if they have a bit of foresight, either they have a valid longterm solution that does not implies price reduction, or they let it go and don't create any further problems, harder to deal with in the future.

 

The long term 'solution' is a government bailout when things go bad.  Until then, plenty of profits.

If you recall, the result of the last financial crisis was that the main bad actors made out like bandits afterwards, after a few sacrificial scapegoats got their throats cut.

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2 hours ago, TheCountOfNowhere said:

it has gone way beyond house prices

This.

It's not just that it's the entire economy built on these foundations of sand, the deception required to maintain the lies, the wilful ignorance required to believe them.

For what it's worth, I think in the current circumstances the ROI on stimulus renders it next to impossible. Faced with greater decline, that may change, but the ROI won't get any better and that'll show up in the laundry sooner rather than later.

It's always been inevitable but now it's imminent.

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12 minutes ago, darkmarket said:

This.

It's not just that it's the entire economy built on these foundations of sand, the deception required to maintain the lies, the wilful ignorance required to believe them.

For what it's worth, I think in the current circumstances the ROI on stimulus renders it next to impossible. Faced with greater decline, that may change, but the ROI won't get any better and that'll show up in the laundry sooner rather than later.

It's always been inevitable but now it's imminent.

It does seem so, god know what's coming next, it's seems impossible to 2nd guess these evil men.

I do know that i'm personbally seeing people loose jobs again, my neighbors son hasn't worked in 2 years,  a friend in Ireland ( Dublin) just been made redundant, 5 blokes at a suppliers gone, local shops shutting up shop again and still this BOOM keeps going.  The recovery never made sense in 2010-2012 now it makes even less sense amidst the backdrop of Trump, BrExit, Insane house prices, BTL changes, US interest rates.

The UK is heading for a doze of reality one way or another.

 

Edited by TheCountOfNowhere

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Decent number of reductions today.

Nothing cheap and nothing nice but a good amount of the days action in Norwich where reductions.

Its looking good as the penny has dropped with a couple of vendors at least.

It feels very well balanced and as others have said could snowball.

 

Edited by Fromage Frais

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12 hours ago, interestrateripoff said:

0.2% isnt a great deal more stagnation which wouldn't surprise me is the aim.

If you throw a ball into the air, at one point it will be almost stagnant before it begins to plunge. 

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