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Even the VIs are advising people to hold off on the BBC


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This was posted in another topic by switch625, but I felt it is so incredibly powerful that it deserves its own thread and that everyone should share this with anyone who is thinking of buying first time or moving up. The guy from PWC chooses not to advise but ultimately everything he said otherwise points to a correction “if you’d bought in the East Midlands in 2007 you would have been in negative equity till 2015”, but for me the absolute corker was the advice from the woman representing property investors. She had been fairly bullish, but when asked what the FTB should do with his 10k deposit she said some basically said that based on probabilities prices aren’t going to rise, and they may well fall, so I would hold off. This was hard nosed analysis from an investor. Golden.

 

Both analysts basically warn FTB to hold off on the BBC

Edited by HovelinHove
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HAHAHA.  Used to listen to moneybox on my commute.  Loved the irony of people calling in moaning about how 'people should look after themselves' and 'pay their way' and 'not expect handouts', then asking how to avoid tax on a 'windfall' they received.  Perfect fodder for new BTL.

 

If they are being scared off, then it reduces the number of greater fools for the BTLers entering SVR hell. Good!

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1 hour ago, HovelinHove said:

This was posted in another topic by switch625, but I felt it is so incredibly powerful that it deserves its own thread and that everyone should share this with anyone who is thinking of buying first time or moving up. The guy from PWC chooses not to advise but ultimately everything he said otherwise points to a correction “if you’d bought in the East Midlands in 2007 you would have been in negative equity till 2015”, but for me the absolute corker was the advice from the woman representing property investors. She had been fairly bullish, but when asked what the FTB should do with his 10k deposit she said some basically said that based on probabilities prices aren’t going to rise, and they may well fall, so I would hold off. This was hard nosed analysis from an investor. Golden.

 

Both analysts basically warn FTB to hold off on the BBC

So the PwC guy basically advises on the risk (that's generally what those fellas do).

The property investor guy says don't buy a property now, wait and rent from one if us instead. 

Interesting piece. 

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55 minutes ago, highcontrast said:

I heard this too, the moneybox presenter desperatley trying to ramp & talk up the market and failing miserably lol.

All grist for the mill. We made an offer a couple of weeks ago on a house, about 8% off, got rejected. We were going to do the same for somewhere else, but won't bother...a few sellers are getting some buyers and this is causing others to believe they can get 2019 prices still. They may be lucky if they get a greater fool by the end of August, but after that the market will be ours. 10-15% by February, and 20% by this time next year I suspect, but that may be close to the bottom.

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  • 419 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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