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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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1 hour ago, Speed1987 said:

That's what this is really about and no matter how insane people think they are, they are simply getting on with it.

People on this forum over look the fact that house prices have continually risen.

That the money supply has increased every economic crash along with new props.

This current growth isn't the end, inflation will kick in and all the other CBs money will also find its way here.

30% more money created in the US. You have to be actually crazy to not buy a house.

This is not rocket science, we all know really what's going to happen.

Localhero?

 

 

 

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1 hour ago, Speed1987 said:

.

This current growth isn't the end, inflation will kick in and all the other CBs money will also find its way here.

 

And bond yields will rise and asset prices will take a hit

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On 30/04/2021 at 10:58, tep1 said:

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!

 

This.

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Got very bored on the way home from work and read the report including the small print for the first time, this did prompt an overly loud public guffaw from me:

The Nationwide House Price Indices are prepared from information that we believe is collated with care, but no representation is made as to their accuracy or completeness. We reserve the right to vary our methodology and to edit or discontinue the indices at any time, for regulatory or other reasons.

Persons seeking to place reliance on the Indices for any purpose whatsoever do so at their own risk and should be aware that various factors, including external factors beyond Nationwide Building Society’s control might necessitate material changes to the Indices.

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59 minutes ago, Smiley George said:

Got very bored on the way home from work and read the report including the small print for the first time, this did prompt an overly loud public guffaw from me:

The Nationwide House Price Indices are prepared from information that we believe is collated with care, but no representation is made as to their accuracy or completeness. We reserve the right to vary our methodology and to edit or discontinue the indices at any time, for regulatory or other reasons.

Persons seeking to place reliance on the Indices for any purpose whatsoever do so at their own risk and should be aware that various factors, including external factors beyond Nationwide Building Society’s control might necessitate material changes to the Indices.

Every time their figures are released we should all post the screenshot of the above as a reply to their tweet.

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On 30/04/2021 at 08:36, Voice of Doom said:

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)

We were going to sell and move this year but the chaos and volatility put us off. Could easily get caught in last minute demands for more money or our buyer could loose their bank loan approval at the last minute and so on.

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46 minutes ago, steve99 said:

We were going to sell and move this year but the chaos and volatility put us off. Could easily get caught in last minute demands for more money or our buyer could loose their bank loan approval at the last minute and so on.

A lot of cash buyers out there though, myself included. 

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I imagine none of the market participants others than perhaps landlords selling down their portfolio are actually enjoying this market, even the oldies hoping to sell up to downsize are finding bungalows might as well of been built out of gold bricks.

Even being a seller and getting huge HPI profits is not that great if your next purchase is racing away from you at the time. 

Its an odd market where its best to sell to rent to make your offer as liquid as possible, but risking the surging HPI meaning you could end up affording something less nice than you sold for.  

Plenty of oldies also are taking their lump sums around now, and plenty have zero pension etc, and can dream that BTL sums work out, as the thought of an increased probably of something better (but extremely unlikely) is better for them than the certainty of poverty in retirement

Also some very cash rich boomers are buying a slice of property directly for their children and BTL in the mean-time so they hold the same asset class as what their children will eventually need 

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