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House Price Crash Forum

Nationwide Apr 2021 (those of a nervous disposition should not open this thread)


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I think the indices are going to be volatile for several months: up, down, sideways. A few posters have likened this to 07-08 before you know what. Let's see where we are when support measures are removed, and the pandemic is truly gone. When that will be, we still don't know.

(Like the title by the way but not the %, obviously)

Edited by Voice of Doom
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1 hour ago, rantnrave said:

Up 2.1% in a single month (two point one percent)

Is that the stamp duty saving wiped out in four and a bit weeks?

Full report:
https://www.nationwide.co.uk/-/media/MainSite/documents/about/house-price-index/2021/Apr_2021.pdf

image.png.f5b2f8a6a3b6cc24f78b32d90e044154.png

This is mind blowing insane.

WTF is wrong with people.

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50 minutes ago, ucnvpe0 said:

It might take years just to get back to 2019 prices. I suspect there will be people here who regret not buying.

I suspect there will be people here who regret buying when the rest of us **** off and the economy is ****ed.

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1 minute ago, TheCountOfNowhere said:

I suspect there will be people here who regret buying when the rest of us **** off and the economy is ****ed.

The economy is already stuffed. Everyone is getting scraps from the top.

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16 minutes ago, TheCountOfNowhere said:

Yet house prices are up 2.1% in a month

Someone somewhere is not telling the whole truth.

Some people somewhere are hiding a lot of £. Likely off-shore too. The covid loans also added another layer onto everything with more £

Edited by ucnvpe0
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11 minutes ago, btd1981 said:

It's mental. It will come home to roost for people that are celebrating all of this when their kids grow up and face a massive and avoidable hurdle to getting on with their own lives.

It's a tale of two cities and has been going that way for a long time. People with large inheritance will thrive. The rest will become serfs or navigate through the little opportunities that remain.

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10 minutes ago, btd1981 said:

It's mental. It will come home to roost for people that are celebrating all of this when their kids grow up and face a massive and avoidable hurdle to getting on with their own lives.

I would imagine there are plenty who can that are helping their kids to buy a property, SD break, low interest rates and savings made during the pandemic can only encourage this......after all most homeowners with kids  know how much they have made out of property, forget the school fees, your property makes more than your job....a house is for life a job might only be for Christmas.

Also more of a reason to have fewer kids or not have kids at all....give one something only fair to give the same to all.;)

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9 minutes ago, ucnvpe0 said:

It's a tale of two cities and has been going that way for a long time. People with large inheritance will thrive. The rest will become serfs or navigate through the little opportunities that remain.

The landed gentry are back on top.

Labour has let the masses down for decades now, Starmer is worst of all, he should be ripping bad taste boris a new one.

Everyone's convinced they are some sort of upper middle class toff because they lease a BMW and have a £400,000 mortgage.

It's slavery.

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1 hour ago, TheCountOfNowhere said:

Yet house prices are up 2.1% in a month

Someone somewhere is not telling the whole truth.

Housing sector and imputed rent is becoming a big makeup of UK GDP. Government are borrowing fantasy levels of debt to save the country since Brexit and Covid. Its all about making the government debt to GDP ratio look rational. 

Welcome to the Banana Republic of UK. Our despotic government is further evidence of that!

 

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1 hour ago, TheCountOfNowhere said:

This is mind blowing insane.

WTF is wrong with people.

 

It might be insane, but for a lot of people there hasn't been a recession (not yet, at least). 

How many middle-class office workers have *actually* been affected by covid in a negative way in terms of work? I personally think the answer is "few". Instead they have saved money over course of the year and bit they've been working at home, and have more savings than probably ever before.

Things may change in the future, but for now IMO there are lots of people out there with 30k+ more cash than they expected, and they are spending it on housing.

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1 hour ago, TheCountOfNowhere said:

The landed gentry are back on top.

Labour has let the masses down for decades now, Starmer is worst of all, he should be ripping bad taste boris a new one.

Everyone's convinced they are some sort of upper middle class toff because they lease a BMW and have a £400,000 mortgage.

It's slavery.

Drive down Unthank Road from the A11 one of the nicest roads in Norwich with lovely detached period houses 600 - 1 million £

Loads of Labour boards outside 0 conservative.

Conservatives scared of oldies with their housing equity

Labour scared of city centre rich and public servants whom directly benefit as they can often sell up and price out in the regions a la Norwich where the hospital and county hall are the primary providers of stable 50/70/100K+ jobs.

On balance at this time the powers that be have decided that in both Con and Lab house prices need to be protected.

Liberal democrats pull your finger out.

Edited by Fromage Frais
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2 hours ago, TheCountOfNowhere said:

image.png.f5b2f8a6a3b6cc24f78b32d90e044154.png

This is mind blowing insane.

WTF is wrong with people.

I was going to post that it feels much more like 2002 as we have a few more years yet until the blow off top in all markets.

Blow off top being around 2029 for a 1929 style crash, we are no-where near the full blown mania of 2007.

I would say make hay while the sun shines and ensure by 2028 that you are debt free and able to weather the following 7 grim economic years. Everything will go up as the 'cant lose' mind-set really sets in. blow off top is the only way it can go

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