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Guardian Article: Day Of Reckoning Near For The Housing Market

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I think the potential buyers are dug in now, they won't come out of their trenches just because there's a flicker of good news. The collective knowledge that as a group they have the power to bring down prices is probably spreading. The non-serious speculative sellers will take their homes off the market while the serious sellers will be forced to lower their prices.

There might not be a conspiracy as such, but if lots of people think there's no hurry to put in an offer because houses aren't selling, it amounts to the same thing.

Edited by Sofa Spud

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I think the potential buyers are dug in now, they won't come out of their trenches just because there's a flicker of good news.

I think they might pop out, look at all the investor pro's who have fuelled short rallies in the Dow Jones over the past two weeks.

Fundamental negatives will re-assert by mid summer.

To me the closure rate of Estate Agent offices is a most telling statistic and one to monitor in the short term. In a thin market we might have to wait 6 months for the sale cycle to feed meaningful data into the Land Registry.

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Add to that a growing realisation that house prices are extremely high by almost any measure and you have a change in sentiment among buyers. That sentiment could prove long-lasting and so prices could fall sharply, although probably not as sharply as in the US. However, US house prices doubled over the last decade, rather than tripled, so UK values have potentially further to fall.

A bit of denial going on here. First they say that prices have shot up much more here than in the US, then they say but they won't fall as much even though they have "potentially" further to fall. Smacks of self-denial to me...or fear from someone who is over-exposed.

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I think the potential buyers are dug in now, they won't come out of their trenches just because there's a flicker of good news. The collective knowledge that as a group they have the power to bring down prices is probably spreading. .................

I have been utterly amazed at how long it has taken wannabe FTB's to realise that they just have to FIRMLY say

NO - I WILL NOT PAY THAT PRICE --

and INSIST on a 60% drop................

They should ALL do that....... ALL AT THE SAME TIME..........

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  • 293 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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