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wadisgod

Confused

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I am sure that the housing market has picked up. To what degree I am not sure. Just to check I rang a freind who is a surveyor last night. He confirms that he has received an increase in instructions and that he has seen average houses selling for silly money.

I am a regular HPC er and there has been a marked reduction in comments logged. Suggesting less price reductions.

All the consumer credit (non housing) data I have seen suggests that the economy is still in deep trouble and if anything things are getting worse. Retailers are still complaining . I hear many stories of people being massively in debt ( like the couple mortgaged up to their eyeballs with 60k credit card debt).

Public spending which has kept the economy going over the last few years is having to slow. Taxes are still rising .

Therefore I am confused. How can house prices rise when everyone is not just skint but in debt. People are not spending £40 on a pair of trainers yet will borrow 350k to buy a 375k property in chingford (another storey I have herd) Is this just a dead cat bounce?

Wadisgod

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I believe that they still think it is a good long term investment – people have made lot’s of money and that’s all that’s remembered – soon they may just remember that they lost lot’s of money.

I personally know a BTL’er who bought 2 flats over x-mas, a FTB’er who’s looking to spend £500000 on his first property and someone who has just sold there flat and is going into rented until they can find a house – none of these people can see a crash at all.

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I believe that they still think it is a good long term investment – people have made lot’s of money and that’s all that’s remembered – soon they may just remember that they lost lot’s of money.

I personally know a BTL’er who bought 2 flats over x-mas, a FTB’er who’s looking to spend £500000 on his first property and someone who has just sold there flat and is going into rented until they can find a house – none of these people can see a crash at all.

How many of your freinds believe a crash is possible? If its less than above the market may continue (all else being equal) upwards.

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How many of your freinds believe a crash is possible? If its less than above the market may continue (all else being equal) upwards.

I personally don’t know anyone who believes a crash is possible at this time (apart from me) – even my wife can not see that houses are over priced – she comes out with things like “if we got this one I think we would have got a bargain”.

There are as I see it only two ways people seem to think at the moment

1: the market will crash

2: the market will level and then go up or just go up more slowly than before

Edited by look to the past

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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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