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thecrashingisles

Daily Mail: Are house prices set to tumble?

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Wow wow wow 😯

Am I dreaming?

 

This is the paper of the Property Is My Pension boomer. This, if it’s not a one-off, could be a game-changer.

Edited by neon tetra

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The Mail - an opinion reflector that likes to consider itself more of an opinion informer (though, to varying degrees, it is both).

So, perhaps this is a reflection of sentiment changing with a dash of trying to be ahead of the curve.

Have people noticed sentiment changing round their way?

 

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33 minutes ago, Voice of Doom said:

reflection of sentiment changing

If market sentimet goes then all hell breaks loose, espcially those who bought for return on investment purposes. Grow cash.

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I agree. I noticed that today it was announced that not only have prices fallen in London but rents have too.

An IO BTL London landlord now faces higher interest rates, a depreciating asset, higher taxes (S24) AND lower rents.

[With aplogies to jilted Jen for not doing his/her whole glorious list!]

 

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56 minutes ago, Voice of Doom said:

Have people noticed sentiment changing round their way?

Yes

Was at a large family gathering on Saturday sitting around a table of about 12 people and house prices came up. One guy said

" house prices where I live will never drop they always go up " 

A lady sitting next to me jumped in and said 

" No where I have lived for 30 years they have never dropped but they are dropping now " Then other people around the table joined in and all agreed with this woman. She was talking about Billericay a very nice part of Essex.  

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Look at the size of the headline, dominating the front page. You would think it was "Will human life on earth be wiped out by nuclear war/an asteroid etc" Illustrates complete obsession with price of bricks and mortar in this country. 

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7 hours ago, thecrashingisles said:

They’ve just got a new editor, and now they do this...

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Lots of boomers about to sit down to their breakfast and spit out their coffee over this.

Can’t wait!

Edited by neon tetra
Fat ffffingers

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6 hours ago, Voice of Doom said:

I agree. I noticed that today it was announced that not only have prices fallen in London but rents have too.

An IO BTL London landlord now faces higher interest rates, a depreciating asset, higher taxes (S24) AND lower rents.

[With aplogies to jilted Jen for not doing his/her whole glorious list!]

 

Yep it needs an update! will sit down this weekend and update it. the news stories are only just starting. leveraged morons going to be badly burnt soon. Seen on other forums that the brown letters have just started to land on door-matts. 

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Thought house prices were already too high in 2004.....since the base rate tumbled after the 2008 credit collapse and the implementation of QE prices have been forever rising, up until now.......the catalyst, it is sentiment, the brakes have been applied.....unwind back to ten years ago.....a new sense of normality, hopefully.;)

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46 minutes ago, winkie said:

Thought house prices were already too high in 2004.....since the base rate tumbled after the 2008 credit collapse and the implementation of QE prices have been forever rising, up until now.......the catalyst, it is sentiment, the brakes have been applied.....unwind back to ten years ago.....a new sense of normality, hopefully.;)

Needs to go back a lock further than 10 years to hit normality, but otherwise spot on.

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7 minutes ago, Switch625 said:

Needs to go back a lock further than 10 years to hit normality, but otherwise spot on.

....just banking on some sort of real wage growth to compensate.😉

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BBC News discussed this story (actually the Express version) on their newspaper review last night.

I think their regular reviewer "David Davies" is into Buy to Let because whenever the prospect of house price falls is mentioned he becomes very animated and last night was no exception :lol:.

https://en.wikipedia.org/wiki/David_Davies_(football_administrator)

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2 hours ago, JustAnotherProle said:

There used to be a lovely montage of DM and Express pro HPI headlines in a post somewhere, it would be nice to see another one full of crash panic headlines like this!

Yes, I remember that.

Dickie Desmond has sold the Express and the House Price Soar headlines have disappeared.

Whatever happened to Sarah O'Grady?

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1 hour ago, stuckmojo said:

Nice.  Especially nice in the context of seeing some people's day utterly ruined by this. 

What a pleasant chap you are

😋

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I wonder what the reason is for the turnaround in this from the Mail?

Could it be

a) the possibility of a general election coming sooner rather than later? And the conservatives realise they won't be left with enough voters who can afford the high prices we have now?

b) Going down the opposite track, are the PTB trying to backtrack on BTL taxes, by blaming this for why house prices are going down?

Can anyone else here think of the reason for this complete change around?

As discussed sentiment is a huge driver in keeping those house prices high.

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17 minutes ago, moonriver said:

I wonder what the reason is for the turnaround in this from the Mail?

 

The writer met Fergus Wilson 

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I think the penny is dropping that property prices can not continue to rise, as the natural conclusion to that is that a one bed ex council flat will sell for £5 million/£10 million/£100 million.

If salaries don't rise to match property prices, then the games up.

At the current average house price level, the average salary should be around £60k per year, not £26k.

 

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  • 149 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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