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TheCountOfNowhere

Reality Check

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Some people who come on here, or peoples you speak to really do think house prices can't collapse.

Some areas fare better than others in a collapse, sure, but when there's an insane boom founded on nothing more than debt, corruption and fraud, then anything can happen.

Ahh, but the UK's different, like hell it is.

Here's what can happen to your investment when reality strikes....

http://www.telegraph.co.uk/finance/personalfinance/expat-money/10792602/Our-250000-Spanish-villa-sold-for-just-87000.html

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10 minutes ago, TwoTearsInABucket said:

A story from 3 years ago about a different country. More importantly it doesn't say what it cost them, just what they first put it on the market at. Which was no doubt speculative as ******.

 

So long as Carney is supporting things I don't see a crash happening soon. Should Brexit really turn adverse to the economy then you might get a Spain situation. But the powers that be will do all they can to ensure that doesn't happen. 

Agreed - if they were making such a stinking loss on it why wouldn't they put it on air BnB.... maybe their situation required a sale. 

I think if Brexit is looking very detrimental then they'll do all they can to support the debt holders lest they forgo spending in lieu of paying down their mortgages, credit cards et al. If it all comes up trumps and Brexit is the best thing ever in the history of the world then he can afford to tighten as we move onto the sunlit uplands and we all get crazy pay rises as the pound strengthens and imports fall. If we stay in and it's all a big upheaval for nothing then now looks like peak uncertainty.

Of course, at the lower end of the market BTL disposals will put downward pressure, but as tenants are turfed out they'll look to rent and be chasing a smaller pool of housing for rent, or they'll look to buy. Possibly they'll move back in with mum and dad but let's face it there's only so much of that most people can take. 

Anecdotally rental prices in Reading and Wokingham seem to be falling, while cheaper properties are selling. Who knows.....

Be greedy when others are fearful and fearful when others are greedy. - Warren Buffet

 

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45 minutes ago, TwoTearsInABucket said:

A story from 3 years ago about a different country. More importantly it doesn't say what it cost them, just what they first put it on the market at. Which was no doubt speculative as ******.

 

So long as Carney is supporting things I don't see a crash happening soon. Should Brexit really turn adverse to the economy then you might get a Spain situation. But the powers that be will do all they can to ensure that doesn't happen. 

Nothing like nailing your colors to the post :lol: 

I bet the British selling in Spain were saying the same thing for the last 10 years

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