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TheCountOfNowhere

Chicken Licken the sky is falling thread.

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Read it and weep Trolly McTroll face

 

https://www.telegraph.co.uk/business/2018/06/20/uk-housing-market-loses-1bn-value/

 

For the first time since 2011 the total value of the UK’s housing market dropped. In the year to December 2017 the market lost £1.2bn in value, falling to a total of £259bn.

 

People will start waking up to the bubble madness.

70 90% falls a possibility IMHO. :ph34r:

 

 

 

 

Edited by TheCountOfNowhere

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38 minutes ago, spyguy said:

Youll talk the UK into a recession ....

Theyre not making anymore land..

 

They are in Hawaii and technically each floor on a block of flats in new land.

If an economy is based on confident talk then it's a trick...a confidence trick.

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1 hour ago, TheCountOfNowhere said:

The most significant news in 7 years and no replies !!!!!

You lost me when you came out with 90% falls count, bit silly mate, besides I am burnt out with inevitable eve of property crash stories 🙂

Edited by Guest

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Nobody would want to buy or possibly could buy a property if there was a 90% crash......have to be realistic here, nothing too far that causes more than just houses to collapse, but a 30% to 40% correction all things being equal, would be beneficial to most that hold only the home they live in or are hoping to buy a home to live in (without help).;)

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18 minutes ago, winkie said:

Nobody would want to buy or possibly could buy a property if there was a 90% crash......have to be realistic here, nothing too far that causes more than just houses to collapse, but a 30% to 40% correction all things being equal, would be beneficial to most that hold only the home they live in or are hoping to buy a home to live in (without help).;)

Why would you not want to buy something at a 90% discount? Houses are for living in not investments. I saw house prices go up 100% in a year on my street. I still consider my house to be only worth £33,500 and would no way pay £90,000 for it (house currently at this price on my street is failing to sell). BTL brigade would've been all over it a year ago. 

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3 hours ago, TheCountOfNowhere said:

falling to a total of £259bn.

Am I reading this right, the total value of UK property £259 Billion?

 

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3 hours ago, TheCountOfNowhere said:

70 90% falls a possibility IMHO. :ph34r:

80% would get back to 1995 inflation adjusted levels where I am.

27 minutes ago, winkie said:

Nobody would want to buy or possibly could buy a property if there was a 90% crash.

I would.

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36 minutes ago, Brendan110_0 said:

Why would you not want to buy something at a 90% discount? Houses are for living in not investments. I saw house prices go up 100% in a year on my street. I still consider my house to be only worth £33,500 and would no way pay £90,000 for it (house currently at this price on my street is failing to sell). BTL brigade would've been all over it a year ago. 

Think about it, if you would want to buy at a 90% discount so would millions of others if they had access to the money to buy....that in itself would stop prices falling by 90%.........the reason why people would not buy is because either they could not buy or wouldn't want to buy......

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They fell 90%+ in New York and Tokyo following the 1929 and early 90s crises respectively. Just sayin.

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20 minutes ago, winkie said:

Think about it, if you would want to buy at a 90% discount so would millions of others if they had access to the money to buy....that in itself would stop prices falling by 90%.........the reason why people would not buy is because either they could not buy or wouldn't want to buy......

Yes. And even if British people were unable (somehow) to access capital, then foreign investors would surely pour in and invest at that kind of low price.

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43 minutes ago, Horseradish said:

Yes. And even if British people were unable (somehow) to access capital, then foreign investors would surely pour in and invest at that kind of low price.

And if a right wing party rises?

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Good news no doubt but forgive my obtuseness - this is a fall of what, 0.4%ish..? If this is the case it's not being reflected in the sale values; which presumably must be the model they're basing this valuation on? More info on methodology would be good!

Where did the 70% figure come from - is it in the original article? (not a subscriber). Re. a 90% crash; while on the face of it that would be grand, I agree with those who suggest it's a) highly unlikely with all the VI's flying about and b) would be accompanied by far greater concerns - think total social collapse. I bet houses are quite cheap in Venezuela at the moment... assuming the armed mobs roaming the streets choose to recognise your title deeds of course.

A price vacuum would invite the ruling elite / foreign buyers capitalising on the inevitable trashed currency to fill their boots; any factors sufficient to discourage them hoovering up properties to rent out to plebs would probably be enough to put an actual potential owner/occupier off living there..

On the subject of Venezula; according to this source the average apartment price per square metre is about $1.1k (so about £800); meaning a 50m^2 apartment would cost you about £40k. Shockingly the average monthly wage after tax is $33(!) meaning (according to their figures) that price to earnings ratio is an eye-watering 158 - puts our 7.5 into perspective; poor sods :(

IM (limited) O, the only thing that can be propping prices up at such insane levels relative to wage is external intervention from stronger currencies... but I digress!

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11 hours ago, inbruges said:

You lost me when you came out with 90% falls count

Tongue in cheek, that's not going to happen, 70% in parts of London though, more than possible.

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5 hours ago, ftb_fml said:

Good news no doubt but forgive my obtuseness - this is a fall of what, 0.4%ish..? If this is the case it's not being reflected in the sale values; which presumably must be the model they're basing this valuation on? More info on methodology would be good!

Where did the 70% figure come from - is it in the original article? (not a subscriber). Re. a 90% crash; while on the face of it that would be grand, I agree with those who suggest it's a) highly unlikely with all the VI's flying about and b) would be accompanied by far greater concerns - think total social collapse. I bet houses are quite cheap in Venezuela at the moment... assuming the armed mobs roaming the streets choose to recognise your title deeds of course.

A price vacuum would invite the ruling elite / foreign buyers capitalising on the inevitable trashed currency to fill their boots; any factors sufficient to discourage them hoovering up properties to rent out to plebs would probably be enough to put an actual potential owner/occupier off living there..

On the subject of Venezula; according to this source the average apartment price per square metre is about $1.1k (so about £800); meaning a 50m^2 apartment would cost you about £40k. Shockingly the average monthly wage after tax is $33(!) meaning (according to their figures) that price to earnings ratio is an eye-watering 158 - puts our 7.5 into perspective; poor sods :(

IM (limited) O, the only thing that can be propping prices up at such insane levels relative to wage is external intervention from stronger currencies... but I digress!

What?

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9 hours ago, TheCountOfNowhere said:

And if a right wing party rises?

It won’t - the U.K. across the board was fairly resistant to extreme right wing populism even when a homegenous nation both locally and without devolution 

Extreme chaos in a market which 90% falls are generally benefits the cash rich, affluent and people who can liquidate quick to take advantage of the market 

None of which are sections of society that need to benefit from a reduction in house prices 

whilst a decline of 20-40% I think is a real possibility 

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4 minutes ago, GregBowman said:

It won’t - the U.K. across the board was fairly resistant to extreme right wing populism even when a homegenous nation both locally and without devolution 

You say that but plenty turned to UKIP, the acceptable right wing party.

I personally see no value now in voting labour or tory, so would in the future if I was staying, vote right wing.

It has come to that.

Read someone saying the racist were turning to right wing parties yesterday, me thinks ( as I predicted here 10 years ago ) they have little option now and are essentially being forced.  What do you do when the government refuse to listen.  Look at BrExit, they have no intention of closing the borders and fixing the country, from where they are sitting, all is well.  These people sit in first class carriages and travel by limo/private jet/helicopters, they have private medical, large family homes etc etc etc

People will only accept so much, I've already stopped accepting it.

Quote

Extreme chaos in a market which 90% falls are generally benefits the cash rich, affluent and people who can liquidate quick to take advantage of the market 

None of which are sections of society that need to benefit from a reduction in house prices 

whilst a decline of 20-40% I think is a real possibility 

How many are actually cash rich, not many I think.

20/40% across the board is nailed on now I think but we really will see parts of London falling 70%.

The asking prices I look at round northants are shocking now.

 

Could get a large 5 bed house in a good area 3 years ago for 400K, just say a 4 bed house in the eastern district ( bad lands ) for £400K this week.

Coudl get a 4 bed detached near a good school for 200K 3 yeats ago, now it's a  2 bed terrace using help to buy for £250K.

This is pure insanity.

The railway mania in disguise, the bankers/establishment really know what they are doing.

 

Edited by TheCountOfNowhere

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45 minutes ago, Si1 said:

I bet houses are quite cheap in Venezuela at the moment... assuming the armed mobs roaming the streets choose to recognise your title deeds of course.

Hope Corbyn fans are watching Venezuela closely as well, but doubt even that would convince most of them

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9 hours ago, Horseradish said:

We'd probably have bigger problems.

Bigger problems than DEBTslavery of the plebs through financialisation of shelter from the elements?

go on...

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10 minutes ago, thewig said:

Bigger problems than DEBTslavery of the plebs through financialisation of shelter from the elements?

go on...

A peoples party willing to take the land off the 1000 year old families, turn the contry into a republic with an actual constitution, run the country for the benefit of the people who live here, investing in productive employment, a fair and sustainable immigration/population policy....yeah, it'd cause sever problems, for some.

 

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  • 302 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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