Trump Invective Posted May 26, 2017 Share Posted May 26, 2017 https://www.ft.com/content/20bb4b1a-398d-11e7-ac89-b01cc67cfeec Seemed to allow me in. Bearish throughout, including 'tactics' to tempt gullible potential viewers. Quote Link to comment Share on other sites More sharing options...
Lambie Posted May 26, 2017 Share Posted May 26, 2017 Mr Pryor says. “Moving house today is like passing a kidney stone — you really don’t want to do it too often.” Pleasantly surprised at the bearish comments considering it's the FT. Quote Link to comment Share on other sites More sharing options...
anonlymouse Posted May 26, 2017 Share Posted May 26, 2017 Henry's pretty consistently bearish - definitely a good one to follow on Twitter. Loves taking the piss out of krusty and Phil and beanie. Quote Link to comment Share on other sites More sharing options...
999house Posted May 26, 2017 Share Posted May 26, 2017 Forced Sellers. Now thats 2 words I want to hear more of. Quote Link to comment Share on other sites More sharing options...
Guest Posted May 27, 2017 Share Posted May 27, 2017 7 hours ago, 999house said: Forced Sellers. Now thats 2 words I want to hear more of. Mmmmmmm..... Hubba hubba. Ding dong! Quote Link to comment Share on other sites More sharing options...
Dames Posted May 27, 2017 Share Posted May 27, 2017 Look into my eyes and "Remember that as a seller you no longer have the upper hand" D ? Quote Link to comment Share on other sites More sharing options...
maverick73 Posted May 27, 2017 Share Posted May 27, 2017 30 minutes ago, Dames said: Look into my eyes and "Remember that as a seller you no longer have the upper hand" D ? its a looming fire sale ? Quote Link to comment Share on other sites More sharing options...
monkey100 Posted May 27, 2017 Share Posted May 27, 2017 http://www.rightmove.co.uk/property-for-sale/property-47987079.html down 90k in a month Quote Link to comment Share on other sites More sharing options...
TulipsFromThreadneedle Posted May 27, 2017 Share Posted May 27, 2017 43 minutes ago, monkey100 said: http://www.rightmove.co.uk/property-for-sale/property-47987079.html down 90k in a month Its an auction property, its what they do to get attention, put it on at a high price then drop it in the weeks before the auction. When i see sold prices outside of PCL or Prime Surrey at 20% off wake me up. Quote Link to comment Share on other sites More sharing options...
TulipsFromThreadneedle Posted May 27, 2017 Share Posted May 27, 2017 14 hours ago, anonlymouse said: Henry's pretty consistently bearish - definitely a good one to follow on Twitter. Loves taking the piss out of krusty and Phil and beanie. Its his job to be bearish, he's trying to haggle a discount for his clients. I've been bearish for 20 f'en years, and i've never felt so priced out in all that time, at least before 2007 i had time on my side. Quote Link to comment Share on other sites More sharing options...
adarmo Posted May 27, 2017 Share Posted May 27, 2017 Interesting thread. It might well be that sentiment has turned, but where is the looming fire sale and what will drive it? The reasons for forced sales are generally limited to death, divorce and debt. The risk (from an HPC PoV) is that interest rates remain rock bottom, or people have fixed at 5 or 10 years, and that if prices do fall they simply do not move. I've been saying that houses are overpriced fro about 15 years and even during the biggest recession for 80 years, with high levels of graduate debt and other people strapped to the eyeballs they fell by maybe 20% at the most. I don't see what is underpinning future mad gainz, but I also do not really see a case, (in the SE at least) for massive fire sales and collapsing valuations. Quote Link to comment Share on other sites More sharing options...
maverick73 Posted May 27, 2017 Share Posted May 27, 2017 Simply explained when an investment is loosing value, ethier pump more money and attempt to turn it around or dump it at a loss. Time will tell what happens if assets flood the market. Does the consumer feel they have continued guaranteed income? Quote Link to comment Share on other sites More sharing options...
MARTINX9 Posted May 27, 2017 Share Posted May 27, 2017 (edited) I love the new term 'sellers forced to offer discounts'. Why not say sellers forced to cut the prices of their homes to sell them? There is an interesting article in todays Times money section about annuities for social care and gives the story of an 80 year old lady with a £10,000 pension (presumably half of it state) who had to sell her £1.1 million house to fund her care. Its the madness of our times that someone who saved so little into a pension became a millionaire by buying a house for a few thousand. Edited May 27, 2017 by MARTINX9 Quote Link to comment Share on other sites More sharing options...
Noallegiance Posted May 27, 2017 Share Posted May 27, 2017 It would be nice to see a new (old) normal where properties are sold to people that want to live in them. No/minimal 'investment', no flipping, no marvelling at how in 10 years time it'll be worth quadruple after a lick of paint or another £30k debt used on a new kitchen etc. Such a crazy paradigm would take a while to create a pattern of the new (old) normal. As such, a long and slow decline would be my guess. Quote Link to comment Share on other sites More sharing options...
Arpeggio Posted May 27, 2017 Share Posted May 27, 2017 This place started at 750k a year ago, now at 650k http://www.rightmove.co.uk/property-for-sale/property-57563191.html I used to be in the area sometimes. The same druggy on the streets asked me for some spare change on about 3 occasions. On a separate occasion I got punched in the face while in the town centre. In the daytime sometimes you could see the left over plastic bags and stuff for the glue sniffers around the green park like areas. This was up until about 2009 mind. Quote Link to comment Share on other sites More sharing options...
maverick73 Posted May 27, 2017 Share Posted May 27, 2017 3 hours ago, MARTINX9 said: I love the new term 'sellers forced to offer discounts'. Why not say sellers forced to cut the prices of their homes to sell them? There is an interesting article in todays Times money section about annuities for social care and gives the story of an 80 year old lady with a £10,000 pension (presumably half of it state) who had to sell her £1.1 million house to fund her care. Its the madness of our times that someone who saved so little into a pension became a millionaire by buying a house for a few thousand. Basically, thanks very much working and paying taxes when you were younger... The government understands you did not save for your elderly years, because you had a mortgage commitments, but now you own your house outright, please sell your home and pay us to look after you. Help us to help you ? Quote Link to comment Share on other sites More sharing options...
lastlaugh Posted May 28, 2017 Share Posted May 28, 2017 20 hours ago, adarmo said: Interesting thread. It might well be that sentiment has turned, but where is the looming fire sale and what will drive it? The reasons for forced sales are generally limited to death, divorce and debt. The risk (from an HPC PoV) is that interest rates remain rock bottom, or people have fixed at 5 or 10 years, and that if prices do fall they simply do not move. I've been saying that houses are overpriced fro about 15 years and even during the biggest recession for 80 years, with high levels of graduate debt and other people strapped to the eyeballs they fell by maybe 20% at the most. I don't see what is underpinning future mad gainz, but I also do not really see a case, (in the SE at least) for massive fire sales and collapsing valuations. Forced sales? S24 is here, and Basel III is just around the corner. The face-washing business model of BTL is toast. Especially in the SE. Quote Link to comment Share on other sites More sharing options...
maverick73 Posted May 28, 2017 Share Posted May 28, 2017 3 hours ago, lastlaugh said: Forced sales? S24 is here, and Basel III is just around the corner. The face-washing business model of BTL is toast. Especially in the SE. Basel III Act (UK is leaving the EU...) vs. Trump relaxing Frank Dodd Act = Junk Bonds Quote Link to comment Share on other sites More sharing options...
monkey100 Posted May 28, 2017 Share Posted May 28, 2017 On 5/27/2017 at 11:39 AM, TulipsFromThreadneedle said: Its an auction property, its what they do to get attention, put it on at a high price then drop it in the weeks before the auction. When i see sold prices outside of PCL or Prime Surrey at 20% off wake me up. They are an agent locally who have had that house for sale I think its available either way and is very cheap for location Quote Link to comment Share on other sites More sharing options...
Sawitcoming Posted May 28, 2017 Share Posted May 28, 2017 http://www.rightmove.co.uk/property-for-sale/property-58735312.html second 50k drop in three months. Started at 999,950 three months ago. Quote Link to comment Share on other sites More sharing options...
TulipsFromThreadneedle Posted May 28, 2017 Share Posted May 28, 2017 (edited) 11 minutes ago, Sawitcoming said: http://www.rightmove.co.uk/property-for-sale/property-58735312.html second 50k drop in three months. Started at 999,950 three months ago. Last sold in 2011 for 440K and before that 182K in 1999, good to see Gidiot getting such houses to double in 6 years as opposed to Browns 12 yrs. http://www.rightmove.co.uk/property-for-sale/property-58735312.html No wonder Londoners are looking to vote Labour. Edited May 28, 2017 by TulipsFromThreadneedle Quote Link to comment Share on other sites More sharing options...
Giordano Bruno Posted May 28, 2017 Share Posted May 28, 2017 On 5/27/2017 at 8:39 AM, Dames said: Look into my eyes and "Remember that as a seller you no longer have the upper hand" D ? Yes indeed. I learned this in my early life. It applies to anything, bikes, records, books, anything. It's easy to buy if you have the money but when you want to sell it is a struggle. The potential buyer, when you have found one, has the final say. Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted May 28, 2017 Share Posted May 28, 2017 2 hours ago, maverick73 said: Basel III Act (UK is leaving the EU...) vs. Trump relaxing Frank Dodd Act = Junk Bonds What's the EU got to do with Basel III? Quote Link to comment Share on other sites More sharing options...
maverick73 Posted May 28, 2017 Share Posted May 28, 2017 31 minutes ago, Pumpkin Muad'Dib said: What's the EU got to do with Basel III? The EU follow its principles more stringently for cross border monitory policies. The US are shifting position. Quote Link to comment Share on other sites More sharing options...
lastlaugh Posted May 28, 2017 Share Posted May 28, 2017 1 hour ago, maverick73 said: The EU follow its principles more stringently for cross border monitory policies. The US are shifting position. With or without Basel III, it is highly unlikely the prospects for UK BTLers will improve. Ever! The demographics were always going to turn eventually. And Basel III was only ever the icing on the cake anyway. Care to put a figure on how many BTL properties will be in a negative cashflow situation by 2020? Quote Link to comment Share on other sites More sharing options...
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