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Bbc Breakfast.. Trading Down

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They're going to be doing an interview with a couple trading down.. sign of the times?

Unfortunately can't watch it now because I gotta go work. Can anyone watch and give a summary?

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They showed a clip from the first program and the people who want to downsize were asked their requirements. "We'd like a couple of outbuildings and a triple garage" Sorry....I thought they were supposed to be downsizing! :rolleyes:

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Guest Riser

The presenter suggested that only a small proportio of those who are taking part in the programme actually went ahead and were able to sell and downsize.

With record low numbers of first time buyers it could be that most housing market activity is centered around people swapping their overvalued houses between different levels of the market, one moves down and one moves up. Chains which involve a FTB at the bottom are not going anywhere fast B)

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Then they spoke about it as if it were something strange ....

Yes indeed. I was particularly amused by the male beeb anchor, who despite:

a ) having trailed the trading-down item maybe 2 or 3 times earlier in the morning;

b ) having sat though a clip from the TV prog, showing the featured couple expressing their wish to trade down;

c ) having asked one of the show's presenters about "the growing trend" to downsize one's property,

then turned to the featured couple and said: "I'm not really sure what it is you are trying to do..."

Just as well, for his sake, they weren't trying to detect "dark matter"!!

Edited by Sledgehead

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Guest Riser

"Then they spoke about it as if it were something strange or difficult. The main point, that prices are massively overvalued, and downsizing minimizes the exposure to a house price crash, was never mentioned."

It is "strange" to the BBC presenters because they assume prices will always go up so it makes no sense to downsize as you are reducing your exposure to the market and reducing the potential flow of free cash by Mewing against the ever increasing value of your house.

Edited by Riser

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People of all ages are taking money off the housing market table. As they say in the City....take your stake and profit off the table before somebody else takes it. :rolleyes:

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I think this was a program predicted by a HPC poster. Can't remember which one. They

called it the "Get of the property down escalator". Well done HPC on another successful prediction!

:D

I put my hand up to predicting a property demolition prog (occured last autumn I believe), but the down sizing idea was somebody elses.

Caught the end of the "downsize me" prog where the presenters basically agreed between themselves that the couple downsizing were essentially misanthropic, antisocial, financially naive Tom-and-Barbaras. Having pronounced said verdict (without offering the couple a chance to defend their choice), a voice over encouraged other would-be downsizers to contact the prog, presumably to be similarly disparaged and mocked in front of a nationwide audience....

Next up on the schedule, a woman who wants to make a living car-booting. Clearly a much more sensible thing to do, given the positive response from presenters ...

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Hearing stories like this is encouraging.

Some canny folk are taking their profits and doing the intelligent thing. Downgrading whilst the market is still near the top.

It's the only way to lock-in the profit unless you STR.

Clever people.

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I think this can only help to accelerate a fall in prices. If people are really committed to downsizing it's likely that they'll take more off the asking price of their current house to get the sale and release the equity.

Downsizing is one of the few ways homeowners actually benefit from the rise in prices. If it were me I'd have downsized ages ago!

Whatever next? People will start selling to rent?

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So, is downsizing the new solution to fill the FTB gap?

WOW!!! - perpetual motion in the housing market - it can only go up from here :lol:

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Guest The_Oldie

So, is downsizing the new solution to fill the FTB gap?

WOW!!! - perpetual motion in the housing market - it can only go up from here :lol:

Hardly, the difference between the larger and downsized houses has been banked and is no longer in property.

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So, is downsizing the new solution to fill the FTB gap?

WOW!!! - perpetual motion in the housing market - it can only go up from here :lol:

The quickest ones take profit/downsize at the top of the market, this precipitates a fall which spooks the rest and then the crash will set in. At which point downsizing is no longer an option, as alot of owners will be in negative equity or the result would be marginal.

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This is all good news. We all know the affect that the endless property buying programmes have had on the housing market so one that is now showing people downsizing will, no doubt, catch on and have an equal affect.

Sounds to me, IMPO, as if one of the production companies/teams who make the endless programmes ramping up house prices has now realised that the market has turned and has got a series commissioned on houses that will hopefully, from their pov, not kill the golden goose? In other words, it would be the end of the line if they made any programmes that were bearish on HPs but that this allows them to make something somewhere in between?

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they are starting to stew in their own juices. :unsure:

anyway if it becomes popular, will it mean a bye-bye for FTB's dream to find a decent house?

Bummer, FTBs will have to settle for a 5 bedder now that the olds are fighting over the flats and terraces. :P

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I am lost by this whole thing to be honest. A friend just mentioned this to me, worried that all the cheaper houses will now be in greater demand and will rise in price. To me it just seems like the market is now full of holes, the bottom has fallen out and people in the middle cant manage what they have.

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Sounds to me, IMPO, as if one of the production companies/teams who make the endless programmes ramping up house prices has now realised that the market has turned and has got a series commissioned on houses that will hopefully, from their pov, not kill the golden goose? In other words, it would be the end of the line if they made any programmes that were bearish on HPs but that this allows them to make something somewhere in between?

I guess so, but let's just take a step back and look at this objectively. You make a program about downsizing but host it with people who do nothing but criticise the phenomenon...

It's like having Ricky Tomlinson (in charcater as Jim Royle) host Changing Rooms. "Add a touch of drama my ****!"

It makes NO sense.

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Guest horace

I watched about 75% of the proramme and switched the T.V. off because it seemed a little predictable.

A thing which stands out, in my mind, was when the female presenter said that the third property, a 3 bedroomed semi in Salisbury, was a quarter of a million pounds to which the male wannabee `downsizer` (hate the word) said that sounds reasonable. Yes reasonable!!

To those of you who viewed the programme did you notice how scruffy the `down sizers` appeared? It looked as though they didn`t have two h`pennies to rub together.

horace.

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Guest Charlie The Tramp

Researchers have shown our brains are programmed for hunter gathering, so many will be reluctant to exchange their meat for a few extra berries in the larder. ;)

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I was slightly confused by this programme...

the couple were selling a 3 bed semi det house in Aldershot for £175K (with 80K equity) and "downsizing" to a 3 bed semi in Wiltshire costing £250K???

He was going to commute from West of Salisbury to Surrey and she was giving up her job in HR to grow vegetables.

<_<

Edited by Spirit

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  • 301 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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