FANG Posted December 11, 2020 Report Share Posted December 11, 2020 The powers that be and VIs will never allow it and we are not building enough to meet the demand. Quote Link to post Share on other sites
Unmoderated Posted December 11, 2020 Report Share Posted December 11, 2020 Quote Link to post Share on other sites
ucnvpe0 Posted December 11, 2020 Report Share Posted December 11, 2020 The powers that be and VIs will never allow it and we are not building enough to meet the demand. Sad but true. The government borrowing figures have shown that the sky is the limit if they wish to prop house prices. Quote Link to post Share on other sites
Sprrite Posted December 11, 2020 Report Share Posted December 11, 2020 Define significant.... 10 to 15% is still realistic in my eyes but this is more a correction than a crash. I've said it on this forum before but wait till the majority of the electorate are renters and you will start to see the discourse and narrative change. Changes have been incrementally made such as mortgage interest rate relief and second home stamp duty. Quote Link to post Share on other sites
This time Posted December 11, 2020 Report Share Posted December 11, 2020 Yep. House prices are up 6% since everyone told me not to buy in the summer. Quote Link to post Share on other sites
sammersmith Posted December 11, 2020 Report Share Posted December 11, 2020 The powers that be and VIs will never allow it They would never have allowed a crash in the past either, and yet it has happened before. Perhaps they're not as omnipotent as you think. we are not building enough to meet the demand That depends what that demand is. If you're talking about demand for new builds in London/Manchester/Birmingham then that's just money laundering and financial speculation. Quote Link to post Share on other sites
goldbug9999 Posted December 11, 2020 Report Share Posted December 11, 2020 The powers that be and VIs will never allow it and we are not building enough to meet the demand. They have dont have much dry power left IMO, maybe prop it up for another year or two ? Quote Link to post Share on other sites
Sprrite Posted December 11, 2020 Report Share Posted December 11, 2020 They have dont have much dry power left IMO, maybe prop it up for another year or two ? Well I really do wonder if a no deal brexit goes ahead, what do they do to prop up the economy especially after covid. Negative interest rates? Further borrowing and stimulus? No easy choices right now. Quote Link to post Share on other sites
Si1 Posted December 11, 2020 Report Share Posted December 11, 2020 . I've said it on this forum before but wait till the majority of the electorate are renters and you will start to see the discourse and narrative change. Changes have been incrementally made such as mortgage interest rate relief and second home stamp duty. Well yes, but how long have we got? Quote Link to post Share on other sites
Si1 Posted December 11, 2020 Report Share Posted December 11, 2020 Well I really do wonder if a no deal brexit goes ahead, what do they do to prop up the economy especially after covid. Negative interest rates? Further borrowing and stimulus? No easy choices right now. https://www.theguardian.com/business/2020/dec/11/bank-of-england-explores-easier-options-for-getting-a-mortgage Quote Link to post Share on other sites
richmondtw Posted December 11, 2020 Report Share Posted December 11, 2020 Yep. House prices are up 6% since everyone told me not to buy in the summer. And much more if you had bought 10 years ago They have dont have much dry power left IMO, maybe prop it up for another year or two ? Maybe maybe not who can say. But in the meantime do you want to shove money into a LL bin? Well yes, but how long have we got? Exactly Quote Link to post Share on other sites
sammersmith Posted December 11, 2020 Report Share Posted December 11, 2020 I've said it on this forum before but wait till the majority of the electorate are renters and you will start to see the discourse and narrative change The narrative is already changing. Deposit protection, tenant fees removal, minimum EPC, and revenge eviction clauses are all recent changes that have helped tenants at the expensive of Landlords. It's also a Tory manifesto pledge to remove S21 during this parliament. I can think of no recent policies that have helped landlords at the expense of tenants. This will/has to continue and if Labour get elected in 3.5 years time then expect to see it accelerate. Quote Link to post Share on other sites
Social Justice League Posted December 11, 2020 Report Share Posted December 11, 2020 The only house reason prices haven't fallen in 2020 is due to the government paying millions of people mortgages for them. They will continue to pay these mortgages until March 2021, at the taxpayers expense. If they want to avoid a crash forever then they can pay peoples mortgages forever by printing the money and handing it out as furlough or citizens income, as working in a real job to pay a mortgage is becoming old news. Quote Link to post Share on other sites
Social Justice League Posted December 11, 2020 Report Share Posted December 11, 2020 That should have said "The only reason house prices haven't fallen"............................. Quote Link to post Share on other sites
winkie Posted December 11, 2020 Report Share Posted December 11, 2020 Our export of our land and buildings are becoming cheaper for the rest of the world. Quote Link to post Share on other sites
FANG Posted December 11, 2020 Author Report Share Posted December 11, 2020 (edited) I believe that effectively there are only 4 options available. 1. Over pay for a 5hitbox 2. Rent / lease / shareholder 3. Inherit property 4 Move and buy cheaper abroad. Prices will never be allowed to fall. People are fooked. Edited December 11, 2020 by FANG Quote Link to post Share on other sites
Fred1981 Posted December 11, 2020 Report Share Posted December 11, 2020 They'll probably carry on helping with mortgages afterwards too. Just as they did before Covid. It's called Support for Mortgage Interest (SMI). https://www.gov.uk/support-for-mortgage-interest Quote Link to post Share on other sites
Roman Roady Posted December 11, 2020 Report Share Posted December 11, 2020 They would never have allowed a crash in the past either, and yet it has happened before. Perhaps they're not as omnipotent as you think. ...and with all the debts piling up, their scope for action is getting more and more narrow. If IR's just twitch upwards there will be chaos...and thats just one knife at their throats thanks to BREXIT and COVID. Quote Link to post Share on other sites
sammersmith Posted December 11, 2020 Report Share Posted December 11, 2020 It's called Support for Mortgage Interest (SMI). Which is now a loan whereas before, and for as far back as i can remember, it was a non-repayable benefit. Same with all these mortgage holidays. They're just deferred payments that have to be repaid at some point and hit a borrower's changes of getting that 2 year fix they so desperately need. Slowly but surely we're running out of road for that kicked can to travel down. Quote Link to post Share on other sites
FANG Posted December 11, 2020 Author Report Share Posted December 11, 2020 ...and with all the debts piling up, their scope for action is getting more and more narrow. If IR's just twitch upwards there will be chaos...and thats just one knife at their throats thanks to BREXIT and COVID. They will manipulate Interest rates as they have been doing for years along with house prices. Quote Link to post Share on other sites
Roman Roady Posted December 11, 2020 Report Share Posted December 11, 2020 They will manipulate Interest rates as they have been doing for years along with house prices. Its all a bit glib isnt it. If "they" refers to the British establishment...surely they only have that power IF the debt is borrowed from British sources? I believe that applies to Japan, in that their debt is owed to the Japanese themselves. I suspect the majority of our debt is sourced internationally, so it is up to Mr Market. In fact it wouldnt be beyond the pale to see IRs manipulated to disadvantage post BREXIT UK IF we dont follow the agenda set in the next few days! I suspect that is weighing heavy on several minds within the Cabinet right now. Quote Link to post Share on other sites
Huggy Posted December 11, 2020 Report Share Posted December 11, 2020 Does this mean I need to buy now or miss out on an incredibly positive outlook for the market? I only need to put £250,000 of my money into this as well? Count me in, I can see no downsides or risks. Quote Link to post Share on other sites
Si1 Posted December 11, 2020 Report Share Posted December 11, 2020 (edited) ...and with all the debts piling up, their scope for action is getting more and more narrow. If IR's just twitch upwards there will be chaos...and thats just one knife at their throats thanks to BREXIT and COVID. The office for budget responsibility is limiting Sunaks credit card for that very reason Edited December 11, 2020 by Si1 Quote Link to post Share on other sites
Si1 Posted December 11, 2020 Report Share Posted December 11, 2020 Interesting that obr and BoE are now on different pages Quote Link to post Share on other sites
PeanutButter Posted December 11, 2020 Report Share Posted December 11, 2020 Yep. House prices are up 6% since everyone told me not to buy in the summer. Everyone? Quote Link to post Share on other sites
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