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Its time to buy

"great Expectations"

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* Britains decade of economic boom would last another decade

* BTL investments on new builds would attract the rent stated by the builder

* Housing valuations based on supply and demand were built on solid foundations

* Houseprices do not go down [if they do, they are in it for the longterm]

* Houseprice inflation would keep in the positive double digits for the forseeable future

* There were no nasty surprises in the economy or housing market lying in wait

* The housing market had evolved into a new market where first time buyers were not needed

* Investment in property is a sure winner regardless of entry point in the "cycle" and the magnitude of leverage.

* Renters who did not buy after 2005 at the time face being priced out FOREVER.

* Banks believed the quality of loans were not as important as gaining market share [ultimately killing the hand that feeds them]

* Banks believed the more loan signups regardless of abilty to repay, the bigger and the better the business

* The public believed interest rates would remain low forever [as opposed to actual rates]

* The goverment would not let houseprices fall

* Even a small fall of houseprices by 5-10% would not adversely affect the property market and banking sector

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* Renters who did not buy after 2005 at the time face being priced out FOREVER.

To anyone with an even vaguely logical mind, this one is hysterically funny. It translates into...

"The bottom of the market can be propped up by investment buyers only. These investment buyers will only be making money via capital gains, therefore the market must continue to rise indefinately in order to allow those buyers to realise their gains as a result of selling to other investment buyers who will be considerably more dependant on capital gains. Nothing can stop this cycle."

Quite frankly, anyone other than blind, stupid, oxygen thief can tell you that the above ain't gonna happen.

* The goverment would not let houseprices fall

To use the internet vernacular... "o rly"? In fact, I can think of no better use for an "o rly" owl than this. Therefore, I give you...



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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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