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rantnrave

Nationwide House Price Index June 2018

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London's annual fall accelerated from -1.0% last quarter to -1.9% this quarter. Nice. Looks like Outer Met is also slowing down as the HPC ripple spreads out of London.

Millennials and BTLers have both largely given up on buying in London. At £468k average house price and average wages around £30k the bottom for London is a long, long way down.

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What kind of champion at life is buying in London right now?

 

Surely only the most cretinous of DEBTjunkies who are now just martingaling themselves to bankruptcy? 

 

 

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39 minutes ago, rantnrave said:

Monthly rise of 0.5%

Annual growth slows to 2.0% (from 2.4%)

London annual figure of -1.9%.

https://www.nationwide.co.uk/-/media/MainSite/documents/about/house-price-index/2018/Jun_Q2_2018.pdf

 

Whats that fall in gold? .....

Seriously, going to be brutal.

In the early 90s drop, the pain with the falls were brutal. And that was with a LTE ~6 times.

Now London/Se is ~15 LTE.

Lodnon moving from from a 'My house eanred more than me last year ...'

To:

'I cant eanr more than my house is falling'

Leverage is brutal.

BoE/HMGOV shoul have been reducing the LTE over the 10 years.

Failed.

 

 

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12 minutes ago, Dorkins said:

London's annual fall accelerated from -1.0% last quarter to -1.9% this quarter. Nice. Looks like Outer Met is also slowing down as the HPC ripple spreads out of London.

Millennials and BTLers have both largely given up on buying in London. At £468k average house price and average wages around £30k the bottom for London is a long, long way down.

'Londoners’ longer working hours drag down UK productivity'

https://www.ft.com/content/d1ba832e-794a-11e8-8e67-1e1a0846c475

Balh di blah.

Basically, the high earning jobs in London appear to have been replaced by people working in hospitality.

Let me reword that for you:

London is mainly composed of low paid foriegn people doing tax cerdit jobs and getting housing benefit.

 

 

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28 minutes ago, spyguy said:

'Londoners’ longer working hours drag down UK productivity'

https://www.ft.com/content/d1ba832e-794a-11e8-8e67-1e1a0846c475

Balh di blah.

Basically, the high earning jobs in London appear to have been replaced by people working in hospitality.

Let me reword that for you:

London is mainly composed of low paid foriegn people doing tax cerdit jobs and getting housing benefit.

Yep. Pretty amazing that the median London wage after housing costs is £21k. That's 1990s money, except that in the 1990s most of those workers would have been homeowners whereas now they are private renters with no security and very little ability to build up a pot of capital. No wonder London has swung so far away from the Tories.

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1 hour ago, spyguy said:

Now London/Se is ~15 LTE

It would be 15x LTE if they were buying the full freehold/leasehold, but if they buy a 25% shared ownership property they only need to be 3.75 xLTE, completely makes sense, why doesn't everyone do it...."DONT DO IT YOU FOOLS, IF PRICES GO UP YOU WIN, IF HPI GOES DOWN, YOUR PORTION GOES DOWN, THE OTHER 75% OWNERS' SHARE DOESNT GO DOWN!"...damn it, a recipe for disaster.

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Good news.. for now slow and steady wins the race :)

A couple of good points; annual growth (2%) is down to the lowest it's been in a long time (Independent says 5yrs) while last month was the first time in at least three years that the 3 month figure has been negative, and it is again this month too.

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11 minutes ago, ftb_fml said:

A couple of good points; annual growth (2%) is down to the lowest it's been in a long time (Independent says 5yrs) while last month was the first time in at least three years that the 3 month figure has been negative, and it is again this month too.

Now that's the sort of heartwarming observations I need. :) 

 

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14 hours ago, thewig said:

What kind of champion at life is buying in London right now?

 

Surely only the most cretinous of DEBTjunkies who are now just martingaling themselves to bankruptcy? 

 

Well, I bought after the 2009 fiasco so I probably don't count. But I just remortgaged to increase my debt because I like being on the right side of a depreciating GBP and low interest rates.

Risky? Ping me in five years.

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Why do people work so hard to get postives out of these data releases, HOUSE PRICES WENT UP AGAIN, no good news there at all, in fact it is amazing how it is even happening. For last couple of years at least we should been looking and expecting falls between -1% to -3% monthly. 

And while on the subject, the good old impartial BBC again. They are actually reporting the slowing up of house price growth in an obvious downhearted isn't his bad news type of way, totally ignoring the millions of license fee payers that would jump for joy at falling prices.

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50 minutes ago, inbruges said:

Why do people work so hard to get postives out of these data releases, HOUSE PRICES WENT UP AGAIN, no good news there at all, in fact it is amazing how it is even happening. For last couple of years at least we should been looking and expecting falls between -1% to -3% monthly

And while on the subject, the good old impartial BBC again. They are actually reporting the slowing up of house price growth in an obvious downhearted isn't his bad news type of way, totally ignoring the millions of license fee payers that would jump for joy at falling prices.

why? what reason?

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  • 301 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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