henry the king Posted March 1, 2023 Share Posted March 1, 2023 16 minutes ago, rantnrave said: Three pages in and a distinct lack of comments from our resident trolls... They will wait for an outlier data point or report and jump all over it. It is all they do. Quote Link to comment Share on other sites More sharing options...
Sackboii Posted March 1, 2023 Share Posted March 1, 2023 3 hours ago, TheCountOfNowhere said: You might lose it all to hyper inflation. I kid not. This is my biggest concern. Especially as saving/investment rates are signficantly offset from and significantly lag base rates, and base rates are signficantly offset from and significantly lag inflation. Quote Link to comment Share on other sites More sharing options...
mynamehere Posted March 1, 2023 Share Posted March 1, 2023 (edited) I wonder if the difference between nationwide and halifax has to do with halifax's northern bias (not sure if this a myth or not?) Zoopla sales show huge variation. If nationwide is more focused further south, that would make sense. Or halifax is due a catch up. Edited March 1, 2023 by mynamehere Quote Link to comment Share on other sites More sharing options...
BaldED Posted March 1, 2023 Share Posted March 1, 2023 5 hours ago, TerryBoi said: As much as I celebrate today with everyone I do have this nagging internal voice telling me we'll look back on these last few months as marking the transition into something much deeper and darker. Now that housing has rolled, the overall economy will be very quickly behind. Obviously this forum is hyper-sensitive, like an early radar warning. But it feels like we're crossing the street thinking about the slight pain in our ankle when we're about to be hit by an 18-wheeler. It's a double edged sword. The people that are going to get hurt are those that have made a living and made money off the back of what has to be said being stupid and lucky. Those with proper skills, have been sensible and haven't jumped on the borrowing bandwagon will in the main be OK. I don't have much sympathy for the ones that screwed everyone else and are now facing an uncertain future. Quote Link to comment Share on other sites More sharing options...
BaldED Posted March 1, 2023 Share Posted March 1, 2023 1 hour ago, Sackboii said: This is my biggest concern. Especially as saving/investment rates are signficantly offset from and significantly lag base rates, and base rates are signficantly offset from and significantly lag inflation. Hyper inflation would totally reset the economy. The only asset you would have is that grey thing on your shoulders. You wouldn't need savings. Quote Link to comment Share on other sites More sharing options...
henry the king Posted March 1, 2023 Share Posted March 1, 2023 55 minutes ago, mynamehere said: I wonder if the difference between nationwide and halifax has to do with halifax's northern bias (not sure if this a myth or not?) Zoopla sales show huge variation. If nationwide is more focused further south, that would make sense. Or halifax is due a catch up. There is no significant difference between NW and HF. Before this month NW was 1.1% YoY and HF was 1.9%. Basically the same. The QoQ data is also similar. SO you are again just making stuff up. Quote Link to comment Share on other sites More sharing options...
Nomadd Posted March 1, 2023 Share Posted March 1, 2023 51 minutes ago, BaldED said: The only asset you would have is that grey thing on your shoulders. My hair doesn't reach that far. Quote Link to comment Share on other sites More sharing options...
fellow Posted March 1, 2023 Share Posted March 1, 2023 2 hours ago, rantnrave said: Three pages in and a distinct lack of comments from our resident trolls... Just for the fun of it I will make a bullish comment: The non seasonally adjusted falls appear to be levelling out and the YoY has only gone negative due to the enormous rise from Feb 22 falling out of the figures. Quote Link to comment Share on other sites More sharing options...
BaldED Posted March 1, 2023 Share Posted March 1, 2023 1 hour ago, Nomadd said: My hair doesn't reach that far. Touché 😆 Quote Link to comment Share on other sites More sharing options...
Nick Cash Posted March 1, 2023 Share Posted March 1, 2023 2 hours ago, BaldED said: It's a double edged sword. The people that are going to get hurt are those that have made a living and made money off the back of what has to be said being stupid and lucky. Those with proper skills, have been sensible and haven't jumped on the borrowing bandwagon will in the main be OK. I don't have much sympathy for the ones that screwed everyone else and are now facing an uncertain future. Can you define “proper skills”? If a semi skilled factory worker who 20 years ago thought BTL was an idea worth pursuing and has subsequently made a decent business for themselves. Is that not laudable? Quote Link to comment Share on other sites More sharing options...
brush2805 Posted March 1, 2023 Share Posted March 1, 2023 Some more price reductions today in the areas I look at, I wonder if it's on the back of this news? Quote Link to comment Share on other sites More sharing options...
rantnrave Posted March 2, 2023 Author Share Posted March 2, 2023 Just checked - over 1% of properties in my search area have been reduced today alone. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted March 2, 2023 Author Share Posted March 2, 2023 Edit to add - just two agents are responsible for all the reductions. Possibly they are in the most trouble... Quote Link to comment Share on other sites More sharing options...
Timm Posted March 2, 2023 Share Posted March 2, 2023 Just now, rantnrave said: Edit to add - just two agents are responsible for all the reductions. Possibly they are in the most trouble... Or they are more competent... In a falling market, EAs are in the business of selling price reductions, not houses. (A house at the right price will sell itself) Quote Link to comment Share on other sites More sharing options...
henry the king Posted March 2, 2023 Share Posted March 2, 2023 (edited) 3 hours ago, rantnrave said: Just checked - over 1% of properties in my search area have been reduced today alone. Where I am looking supply has just been going up and up and up. There were something like 60 available in one town and now its 140. Another place up from 20 to 52, another up from 65 to 89. Compared to June 2022 things are up so much in terms of supply. With that increase in supply and the collapse of demand, people will need to lower prices to sell. And that just encourages the price falls we have seen in the NW and HF index for the last 6 months. Edited March 2, 2023 by henry the king Quote Link to comment Share on other sites More sharing options...
danlee74 Posted March 3, 2023 Share Posted March 3, 2023 What do Nationwide know that they are not telling us? Quote Link to comment Share on other sites More sharing options...
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