OnionTerror Posted March 25, 2020 Share Posted March 25, 2020 https://www.dailymail.co.uk/news/article-8150357/Chaos-housing-market-banks-stop-mortgage-lending.html Quote Link to comment Share on other sites More sharing options...
rollover Posted March 25, 2020 Share Posted March 25, 2020 (edited) 1 hour ago, Dave Beans said: https://www.dailymail.co.uk/news/article-8150357/Chaos-housing-market-banks-stop-mortgage-lending.html Part of the headline saying: "banks stop mortgage lending". Edited March 25, 2020 by rollover Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted March 25, 2020 Share Posted March 25, 2020 With predictions of 20% falls, who on earth would exchange contracts now unless they were boomers selling up. The market is going to get destroyed in the next 12 months, and cash will be king. After that, run for the hills as hyper inflation soars. Quote Link to comment Share on other sites More sharing options...
stop_the_craziness Posted March 25, 2020 Share Posted March 25, 2020 The hardest part of timing this next market is seller expectation taking time to adjust. While we're waiting for reality to kick into their minds the hyper inflation may start. Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted March 25, 2020 Share Posted March 25, 2020 Just now, stop_the_craziness said: The hardest part of timing this next market is seller expectation taking time to adjust. While we're waiting for reality to kick into their minds the hyper inflation may start. I agree. I think it won’t really take hold until the autumn. I think there will be a 3-6 month window from Jan next year to buy. Quote Link to comment Share on other sites More sharing options...
50sQuiff Posted March 25, 2020 Share Posted March 25, 2020 1 hour ago, HovelinHove said: I agree. I think it won’t really take hold until the autumn. I think there will be a 3-6 month window from Jan next year to buy. Or buy something that will appreciate in real terms in this environment. Housing will perform poorly, even with high inflation. Quote Link to comment Share on other sites More sharing options...
RomfordDon Posted March 25, 2020 Share Posted March 25, 2020 What’s to stop sellers from just sitting it out? Is there anything on the horizon to force sales? Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted March 25, 2020 Share Posted March 25, 2020 Grove wants to discourage sales so as not to crystallise price falls. Quote Link to comment Share on other sites More sharing options...
Kosmin Posted March 25, 2020 Share Posted March 25, 2020 54 minutes ago, RomfordDon said: What’s to stop sellers from just sitting it out? Is there anything on the horizon to force sales? I think people often mention the three Ds of forced sales (death, default and divorce). There will probably be more of all three - more people dying from the virus and unable to get treatment as most doctors are busy with it, more who can't pay mortgages due to lost income and more divorces as people are stuck inside with spouse in a marriage which is already on thin ice. Quote Link to comment Share on other sites More sharing options...
solentmuppet Posted March 25, 2020 Share Posted March 25, 2020 1 hour ago, 50sQuiff said: Or buy something that will appreciate in real terms in this environment. Housing will perform poorly, even with high inflation. Your suggestions? Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted March 25, 2020 Share Posted March 25, 2020 1 minute ago, solentmuppet said: Your suggestions? Bog rolls? Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted March 25, 2020 Share Posted March 25, 2020 1 hour ago, RomfordDon said: What’s to stop sellers from just sitting it out? Is there anything on the horizon to force sales? Because they no longer have a job, but still have a Space Cadet loan. Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted March 25, 2020 Share Posted March 25, 2020 3 hours ago, HovelinHove said: With predictions of 20% falls, who on earth would exchange contracts now unless they were boomers selling up. The market is going to get destroyed in the next 12 months, and cash will be king. After that, run for the hills as hyper inflation soars. I do so hope you are right. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted March 25, 2020 Share Posted March 25, 2020 46 minutes ago, Bruce Banner said: Bog rolls? Yes, then sit things out. Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted March 25, 2020 Share Posted March 25, 2020 1 hour ago, solentmuppet said: Your suggestions? I am starting, belatedly to go into Gold miners (should have gone in last year, or even 2 weeks ago). I think predictions of Gold doubling in value over the next few years are not unreasonable, and miners will go up with them. If inflation goes insane, then Gold will rise even further. I think having 20% of your wealth in some sort of Gold at the moment isn’t totally ridiculous. Quote Link to comment Share on other sites More sharing options...
longgone Posted March 25, 2020 Share Posted March 25, 2020 Stocks of new builds could be heavily Discounted Quote Link to comment Share on other sites More sharing options...
Simhadri Posted March 25, 2020 Share Posted March 25, 2020 Even with 40% crash, people can't buy neither through mortgage nor through cash. Solicitors, surveyors are not working. So crash means nothing until we get the market moving. Quote Link to comment Share on other sites More sharing options...
longgone Posted March 25, 2020 Share Posted March 25, 2020 12 minutes ago, Simhadri said: Even with 40% crash, people can't buy neither through mortgage nor through cash. Solicitors, surveyors are not working. So crash means nothing until we get the market moving. I can see a few solicitors setting up in Nigeria to take over the strain. Quote Link to comment Share on other sites More sharing options...
Hmmm okay Posted March 25, 2020 Share Posted March 25, 2020 1. Daily Mail.. 2. I seriously doubt there will be a 20%+ crash for one.. small blip 3. I can assure you solicitors are working Quote Link to comment Share on other sites More sharing options...
user not found Posted March 25, 2020 Share Posted March 25, 2020 5 hours ago, RomfordDon said: What’s to stop sellers from just sitting it out? Is there anything on the horizon to force sales? The 4 Ds - death, divorce, debt, d*ckhead landlords cr*pping their pants. those people can't sit it out. Quote Link to comment Share on other sites More sharing options...
user not found Posted March 25, 2020 Share Posted March 25, 2020 3 hours ago, Simhadri said: Even with 40% crash, people can't buy neither through mortgage nor through cash. Solicitors, surveyors are not working. So crash means nothing until we get the market moving. cant it all be done over the phone/email/post? Quote Link to comment Share on other sites More sharing options...
killerbee Posted March 26, 2020 Share Posted March 26, 2020 16 hours ago, dances with sheeple said: Yes, then sit things out. Yeah, I read on ZH, bog roll is the new currency - it’s called ‘Butt Coin’. Quote Link to comment Share on other sites More sharing options...
regprentice Posted March 26, 2020 Share Posted March 26, 2020 (edited) 13 hours ago, Sausage said: cant it all be done over the phone/email/post? I had a nightmare getting some documents accepted over Xmas due to staff holidays at my solicitor. Changing a charge hold on a property on the land register. They had to be seen in person, copied, their copy stamped by a senior, they wouldn't keep the documents til this could be done at their convenience, receptionist couldn't accept the documents, neither the receptionist nor the solicitor copying the documents could do my id&v to prove who I was so a third solicitor needed to come down and look at my drivers licence. And then the actual solicitor who did the work wasn't there and took another 6 weeks to process it. In the end i had to travel 16 miles twice to get the right combination of staff for it to be processed. I wouldn't be surprised if, like a bank i used to work at, some work HAD to be done in the office because it was too significant or secret to be worked on at home (not deeds etc but serious court cases) Edited March 26, 2020 by regprentice Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted March 26, 2020 Share Posted March 26, 2020 Conveyance is meant to be easy money, and the perfect environment to say “No”. Give it to the graduate, and charge Big bucks Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted March 26, 2020 Share Posted March 26, 2020 5 hours ago, killerbee said: Yeah, I read on ZH, bog roll is the new currency - it’s called ‘Butt Coin’. As the economy goes round the U-Bend it will become more and more valuable. Quote Link to comment Share on other sites More sharing options...
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