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Certainly. Whilst MSM and governments may peddle the free-market and capitalist narrative we do not live in that and have not done so for many years. We live in an era of targeted government intervention and Covid is only accelerating this, I'd say we're in some form of "selective socialism" era of economics; the big scheme of which is Help to Buy. Not an easy scheme to withdraw now it has started. Housing market seems hooked on monetary or fiscal intervention, completely detached from modern free market economics. If Covid doesn't provide the slide in prices, I don't think anything will ever knock it.

In terms of the future, complete crystal ball gazing, even in the short term. We've a mountain of debt to pay back and with government debt now exceeding total economic output it's hard to see how that will be corrected anytime soon. I think we'll see a sustained period, perhaps a generation, of minimal bank rates. Inflation targeting has gone out of the window as well. Overall, I think the state will be playing an ever-increasing role in the direction of western economies.

Ta

What would you do?

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What would you do?

In terms of the housing market; sit tight for another year or so whilst the fallout from Covid takes hold (that's me talking as a FTB as well) but people's housing situations are very personal and some may be able to wait whilst others can't for whatever reasons. However, there's been many of us calling the top for sometime but the goalposts keep moving. Again, great example of how assets have become completely detached from the general performance of the economy.

In terms of general economic outlook; hold on tight! Cash savings are pretty much redundant and BoE etc seem to be ramping up the talk around negative interest rates. The sceptic in me wonders if this is to divert money into assets such as housing so we've now got that at play. People could flock to metals, artwork and other collectibles as a safe haven for their cash. The macro scenario is changing so much everyday right now and I don't even think the government knows where the ball in the air is going to land.

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In terms of the housing market; sit tight for another year or so whilst the fallout from Covid takes hold (that's me talking as a FTB as well) but people's housing situations are very personal and some may be able to wait whilst others can't for whatever reasons. However, there's been many of us calling the top for sometime but the goalposts keep moving. Again, great example of how assets have become completely detached from the general performance of the economy.

In terms of general economic outlook; hold on tight! Cash savings are pretty much redundant and BoE etc seem to be ramping up the talk around negative interest rates. The sceptic in me wonders if this is to divert money into assets such as housing so we've now got that at play. People could flock to metals, artwork and other collectibles as a safe haven for their cash. The macro scenario is changing so much everyday right now and I don't even think the government knows where the ball in the air is going to land.

Appreciated and I agree.

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I'm new again. I was here for a while in 2007, can't remember who I was.

I think we've gone beyond a house price crash now, government interference in that market means we've gotten to the point of systemic failure. Way things are going the last thing people are going to be concerned about is the value of their property.

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