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Blooman

RICS Residential Market Survey - May

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I am staying in Kefalonia forever if this keeps up ,I have had nothing but good news since the moment I landed, things always seem to happen when you are away.

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7 minutes ago, winkie said:

At last, a long awaited market correction, gravity can not be defeated, only a matter of time.....enlightening reading.;)

More importantly than the actual data I am waiting to see how the media handle this. The Halifax data was indicating to anyone with two IQ points to rub together that the property market at the very least could be going negative, but media reports it as a 2% yearly gain.

If momentum continues I just cannot see any substantial weapons in the BOE and Government armoury that is going to prevent a crash this time

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15 minutes ago, inbruges said:

More importantly than the actual data I am waiting to see how the media handle this. The Halifax data was indicating to anyone with two IQ points to rub together that the property market at the very least could be going negative, but media reports it as a 2% yearly gain.

If momentum continues I just cannot see any substantial weapons in the BOE and Government armoury that is going to prevent a crash this time

If fuel, food, water, gas and electric had been overinflated for 25 yrs, the gvmt and media would be over the moon at price falls.

I hope to god the BOE don't drop rates... We still need them to rise.

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2 minutes ago, Grab_Some_Popcorn said:

If fuel, food, water, gas and electric had been overinflated for 25 yrs, the gvmt and media would be over the moon at price falls.

I hope to god the BOE don't drop rates... We still need them to rise.

We need rates to rise if only to help prevent huge fuel, food, gas and electricity inflation......they are saying, no deal possible 20% added to eu imports, that is without other world protectionism issues?.......a different type of inflation have not had for a while......still we are all consumers if we are able to be, or allow ourselves to be.😉

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15 minutes ago, winkie said:

We need rates to rise if only to help prevent huge fuel, food, gas and electricity inflation......they are saying, no deal possible 20% added to eu imports, that is without other world protectionism issues?.......a different type of inflation have not had for a while......still we are all consumers if we are able to be, or allow ourselves to be.😉

I am probably in a minority here, but I have no issues with most other bills out there that have to be paid, and definitely OK with food, I think we live in a food paradise in the UK now where the quality and variety will one day be looked back upon with fond memories. But I can say all this because I am not handing over 60% plus of my wages to pay for expensive mortgaged housing, some people will complain abut already cheap food when they pay a fortune to live in crap housing which they hope will one day make them property millionaires as well

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16 minutes ago, inbruges said:

I am probably in a minority here, but I have no issues with most other bills out there that have to be paid, and definitely OK with food, I think we live in a food paradise in the UK now where the quality and variety will one day be looked back upon with fond memories. But I can say all this because I am not handing over 60% plus of my wages to pay for expensive mortgaged housing, some people will complain abut already cheap food when they pay a fortune to live in crap housing which they hope will one day make them property millionaires as well

Regarding the food prices, totally agree.

Food in e.g Scandinavia and Finland is *way* more expensive than here. I couldn't believe how much food (and of reasonable quality too) I could buy for a fiver when I first moved here.

Energy prices as well - I pay about 150 a month in gas and electricity. My parents pay about 350 over winter.

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In Kefalonia right now as I type, food prices here are so expensive like so many other places in the EU, and Greece is supposed to be struggling

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16 minutes ago, inbruges said:

I am probably in a minority here, but I have no issues with most other bills out there that have to be paid, and definitely OK with food, I think we live in a food paradise in the UK now where the quality and variety will one day be looked back upon with fond memories. But I can say all this because I am not handing over 60% plus of my wages to pay for expensive mortgaged housing, some people will complain abut already cheap food when they pay a fortune to live in crap housing which they hope will one day make them property millionaires as well

What we have to watch is our food QUALITY......the better off will be able to purchase quality food at higher prices........it is those who will not be able to pay the price that will end up having to buy cheap imported food of low quality, unhealthy, addictive and could over time bring forward obesity and heart problems and an early death......think cheap imported clothes v expensive but high quality clothes......what we wear is neither here nor there, what we put into our mouths on a daily basis means much more, far more important to future health and life longevity chances.....you are what you eat.;)

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1 hour ago, Grab_Some_Popcorn said:

If fuel, food, water, gas and electric had been overinflated for 25 yrs, the gvmt and media would be over the moon at price falls.

I hope to god the BOE don't drop rates... We still need them to rise.

Report at 12.00. The usual fog of indecision from the Canadian dummy shortly thereafter.

 

 

 

Edited by zugzwang

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Property industry pretending it can't hear the bad news:

http://www.propertyindustryeye.com/surveyors-yet-to-see-the-market-spring-back-into-life-rics/

and Reuters notes how economists failed to predict the fall, yet again:

"A Reuters poll of economists had pointed to a much smaller decline to -1."

https://uk.reuters.com/article/uk-britain-economy-houseprices/uk-rics-house-price-balance-hits-lowest-since-2012-idUKKBN1IA3J7

 

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1 hour ago, winkie said:

What we have to watch is our food QUALITY......the better off will be able to purchase quality food at higher prices........it is those who will not be able to pay the price that will end up having to buy cheap imported food of low quality, unhealthy, addictive and could over time bring forward obesity and heart problems and an early death......think cheap imported clothes v expensive but high quality clothes......what we wear is neither here nor there, what we put into our mouths on a daily basis means much more, far more important to future health and life longevity chances.....you are what you eat.;)

I live on a 95%  non processed diet eating 15% good quality meat creatively along with the best veg, fruit, pulses etc I can buy. Eating healthy and doing all your cooking yourself is so cheap, those that say it is expensive are talking rubbish.

If I was ever to hit hard times I could cook a number of highly nutritional health tasty meals for less than a quid per person

 

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7 hours ago, inbruges said:

I live on a 95%  non processed diet eating 15% good quality meat creatively along with the best veg, fruit, pulses etc I can buy. Eating healthy and doing all your cooking yourself is so cheap, those that say it is expensive are talking rubbish.

If I was ever to hit hard times I could cook a number of highly nutritional health tasty meals for less than a quid per person

 

Not everyone can.....not everyone wants to.....not everyone has something to cook on, believe it or not......these skills are passed down the generations......schools no longer teach home economics.😉

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Hello, gosh, there are a lot of differing opinions about what's going to happen with the housing market. I read this article on MoneyWeek.com today and I thought I would post it here because the author is saying the market will cool but not crash, although he seems to be in two minds about it. I'd actually like something more akin to a crash, but that could just spur the authorities into heavily supporting prices, so perhaps a more gentle downturn that does not alarm them would be better. Anyhow, here is the article if anyone would like to read it: 

The weakest link in the UK housing market right now https://moneyweek.com/the-weakest-link-in-the-uk-housing-market-right-now/ 

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3 minutes ago, FabulousSophie said:

Hello, gosh, there are a lot of differing opinions about what's going to happen with the housing market. I read this article on MoneyWeek.com today and I thought I would post it here because the author is saying the market will cool but not crash, although he seems to be in two minds about it. I'd actually like something more akin to a crash, but that could just spur the authorities into heavily supporting prices, so perhaps a more gentle downturn that does not alarm them would be better. Anyhow, here is the article if anyone would like to read it: 

The weakest link in the UK housing market right now https://moneyweek.com/the-weakest-link-in-the-uk-housing-market-right-now/ 

The bottom half of that article is interesting.

"So hang on – the supply of rental properties is falling, but so are rents? How does that work? Well, the conclusion has to be – at least partly – that as landlords sell up, or stop competing with residential buyers to purchase new properties (down south, at least), then there’s more room for people who would have rented to buy a house instead."

Neither houses or people are magically appearing or disappearing.

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13 minutes ago, FabulousSophie said:

Hello, gosh, there are a lot of differing opinions about what's going to happen with the housing market.

Appears to be a fair degree of consensus amongst London-based chartered surveyors.

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Of most significance is the report of first falls in the SW since 2013, where much of the SE bubble profit money headed, rippling inwards just as it did outwards, eyes on other mid priced regions next.

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2 hours ago, FabulousSophie said:

Hello, gosh, there are a lot of differing opinions about what's going to happen with the housing market.

Also, and I apologise for not mentioning this earlier,  @gosh doesn't appear to have logged on since the 28 May 2010, but hopefully they are lurking and will get your message.

Edited by Beary McBearface

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12 hours ago, Henrik said:

Regarding the food prices, totally agree.

Food in e.g Scandinavia and Finland is *way* more expensive than here. I couldn't believe how much food (and of reasonable quality too) I could buy for a fiver when I first moved here.

Energy prices as well - I pay about 150 a month in gas and electricity. My parents pay about 350 over winter.

Interesting. Spain is much cheaper than here, especially utilities / refuse etc. Eastern Europe much cheaper again, especially ex-ussr satellites like Ukraine / Belarus / Moldova. Belarus has got be looking good for anyone who makes any money in crypto as you will enjoy a 0% tax regime for 5 years.

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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