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Laughter And Merriment

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Am I imagining these or is there a deafening roar of laughter and merriment everytime I come in here these days?

Edited by nmarks

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Yes. Plus a clinking of glasses and popping of champagne corks.

STA, just noticed you have turned Bear.

You don't work for Savils do you? :lol:

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A Time for Everything

"There is a time for everything,

and a season for every activity under heaven:

a time to be born and a time to die,

a time to plant and a time to uproot,

a time to kill and a time to heal,

a time to tear down and a time to build,

a time to weep and a time to laugh,

a time to mourn and a time to dance,

a time to scatter stones and a time to gather them,

a time to embrace and a time to refrain,

a time to search and a time to give up,

a time to keep and a time to throw away,

a time to tear and a time to mend,

a time to be silent and a time to speak,

a time to love and a time to hate,

a time for war and a time for peace."

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I said to my wife this morning, who has been very patient with my long term bearish views on the housing market.

It's impossible to fully explain just how bad things look for property prices right now. The news is constant and consistently bad, has been for 6 months and we're past tipping point.

I told her to relax and enjoy reading the odd link I send her, and not to worry, I believe we will in a year or two be able to afford to buy a suitable home for our family.

It's been a tough journey, but the end is definitely in sight.

But laughter and merriment? No, just simple relief.

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We might be celebrating falling house prices but if our savings vanish into thin air who'll be laughing?

Exactly. You won't get much laughter and merriment from me at the moment.

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I think it is far too early to sit and be jovial about the "coming correction", IMO I think the time for this is at least a couple of years away.

I'm a bear through and through as I am sick of living at home, but all the while I am pretty much putting 85% of my salary every month into a

deposit and being patient, which I feel is the ultimate key.

From here on house prices are not going up which is pretty obvious but we need patience till the end.

Sentiment is a bitch to change, not the sentiment of a few thousand people in a web board, but the sentiment of a debt binging have it all nation.

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Exactly. You won't get much laughter and merriment from me at the moment.

Its the wry laughter of those who warned a storm was coming and were themselves laughed at.

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If you dont laugh in times of adversity, its mental illness for you.

Laughter, the best medicine.

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Am I imagining these or is there a deafening roar of laughter and merriment everytime I come in here these days?

There is laughter , there is anger on here , but for me it's about vindication ................ B)

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Exactly. You won't get much laughter and merriment from me at the moment.

I feel sorry for you. Talk about a pessimist. Look - there is a credit crunch. Banks are in trouble and have made huge losses. What is going to happen is a recession and a house price crash. What is not going to happen is a systemic banking failure.

At the end of the day we need a banking sector. For employers to pay salaries into. For people to pay direct debits from. Etc. Etc. Etc.

Without a banking sector we have no economy.

In all the bubbles that have ever happened before we have never had the situation where every bank went bust.

So, a bit of perspective please.

Sure, put your money in building societies not banks.

Sure, split it amongst different societies.

Or draw it out and stick in a safety deposit box if you are that worried.

People like you are very tiring to be around. You bring everyone down. Try smiling and looking on the bright side.

If you are really bothered about things, you had better close all bank accounts and start paying for everything in cash.

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Am I imagining these or is there a deafening roar of laughter and merriment everytime I come in here these days?

It's probably still a bit early to be celebrating wildly, although there is now a glimmer of hope on the horizon.

When we can finally afford to buy a reasonable 3 bed home for our family then I'll go ape.

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I think it is far too early to sit and be jovial about the "coming correction", IMO I think the time for this is at least a couple of years away.

I'm a bear through and through as I am sick of living at home, but all the while I am pretty much putting 85% of my salary every month into a

deposit and being patient, which I feel is the ultimate key.

From here on house prices are not going up which is pretty obvious but we need patience till the end.

Sentiment is a bitch to change, not the sentiment of a few thousand people in a web board, but the sentiment of a debt binging have it all nation.

We're way beyond sentiment now. We're into 'sorry you can't have a mortgage that big, that amount of LTV etc.' territory.

We're into 'sorry we're not giving mortgages at the moment - come back in a couple of months' territory. We're not a couple of years away any more. It's happening now. In a years time 20% falls will be being reported. Perhaps you are missing the first wave - flats being sold at auction for 40% less than they sold for a year or two ago.

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snip

If you are really bothered about things, you had better close all bank accounts and start paying for everything in cash.

Are you implying that people who are miserable and scared might cause a bank run? :lol::lol:

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Its the wry laughter of those who warned a storm was coming and were themselves laughed at.

Deleted post. Glad I'm not around OP, sorry for bringing you down.

Edited by tigsrenting

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Am I imagining these or is there a deafening roar of laughter and merriment everytime I come in here these days?

Not from me, I am angry :angry: (see my angry face.... ;) )

At the end of the day I am still having to live in a situation which is less than ideal (renting a room in a shared house). I will only be celebrating when I have my grubbly little paws on my long dreamt of one-bedroom flat in a reasonable area of the city. If it was not for the irresponsible lending practices (IO to subprime etc. and the BTL morons) it should have been possible by now.

So much could have been done to reduce the impact of the current crisis; some controls on lending would have been a start and entirely feasible.

Edited by lulu

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We're way beyond sentiment now. We're into 'sorry you can't have a mortgage that big, that amount of LTV etc.' territory.

We're into 'sorry we're not giving mortgages at the moment - come back in a couple of months' territory. We're not a couple of years away any more. It's happening now. In a years time 20% falls will be being reported. Perhaps you are missing the first wave - flats being sold at auction for 40% less than they sold for a year or two ago.

I hope your right man I really do.

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Not from me, I am angry :angry: (see my angry face.... ;) )

At the end of the day I am still having to live in a situation which is less than ideal (renting a room in a shared house). I will only be celebrating when I have my grubbly little paws on my long dreamt of one-bedroom flat in a reasonable area of the city. If it was not for the irresponsible lending practices (IO to subprime etc. and the BTL morons) it should have been possible by now.

So much could have been done to reduce the impact of the current crisis; some controls on lending would have been a start and entirely feasible.

youd lighten up your life if you dropped the dream of home ownership.

Its not the be all and end all. Do you miss your house and everything that having a place involves when you are on holiday?

I dont. In fact the lightening of the load is great.

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TBH. I just feel relief, I've been waiting for a year and a half and its been a bit of a strain being a contrarian. Some of you have been waiting much longer. No I am happy just to be a sheeple, mass market bear like the rest.

Lets - props. The banking system will survive. Even if half of them become government zombies. Things are going to get harder. House prices will fall and a large number will be ruined. But as long as capital, labour and ideas are allowed to swirl the globe, the world economy will find a way. I also agree that sentiment is irrelevant now. I once thought it would be the pin that bursts this bubble. I was wrong.

In summary, cautiously optimistic.

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  • 295 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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