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Investing In A Falling Market

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Well, if folks around here are anything to go by, yes!

My manor has fallen victim to the back garden raiders, with three houses being knocked down to make way for 50 (yes, 50) flats, housed in a variety of buildings, none more than 3 storeys high.

Not only has this logically reduced the average value of a dwelling in the immediate vicinity, it has also obscured views, negatively impacted the socioeconomic mean of locals, reduced the distance between existing houses and their (new) next door neighbours, increased traffic, increased noise and, perhaps most damagingly, given rise to once secluded gardens now being overlooked.

This my friends is the property equivalent of a stock market profits warning, and one with lasting consequences (a bit like being a CD presser for instance). It doesn't matter where the rest of the market is going, as far as the neighbours of this development are concerned, it might as well be Black Monday.

So, what, would you imagine, would be the reaction of those unfortunate enough to be lumbered with this new development on the boundary of their property? An immediate trip to the estate agents to get what they can before the chavs move in? A legal action against the developer to try and recoup some of their lost equity (emotional, no hope, knee jerk). An immediate trip to the local letting agent to let the place and find somewhere nicer to live?

Wrong, wrong and wrong again. No, instead at least two of the houses on the immediate periphery have decided their houses just ain't close enough to their new over-lookers: yes they have decided to extend TOWARDS this new development. In other words, they are piling money into an asset that has and will clearly continue to lose value. Yes, in true Brit style, these morons have decided to "keep up with the Joneses'", even tho the Joneses is a commercial developer who will be flogging on their latest project to 50 parties.

If anyone can explain this behaviour, I'm all ears!

Edited by Sledgehead

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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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