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Mancghirl

Scotland Is Immune, Isn't?

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Was up and about far too early this morning, so took a walk down to the corner shop to be confronted by the billboard proclaiming 'House Prices to fall 20%!'

Well, I thought that was worth 70p, so I broke my own golden rule and bought a copy of The Hootsman.

http://news.scotsman.com/scotland/HBOS-pre...2037.4348017.jp

:lol::lol:

Repeat after me, this only applies to England, this only applies to England, we are safe, we are safe. etc etc etc.

On another note was having dinner with a mate last night who enquired about my plans to move (following my LL's attempt at a 20% rent hike). I said I was looking but would probably sort it out after the festival, when things are a bit less manic. She enquired as to whether I wanted to buy as 'prices are coming down'. I had to explain to her that it was then a very bad time to buy, as who knew how much further they had to go. She agreed and then confessed that she was really worried as she had recently 'remortgaged' (MEWed) on a flat she bought a few years back for a reasonable sum....and she has spent it on clothes, holidays and going out. Jaysus. She is now not far from Neg Equity.

I offered sympathy, but bloody hell. Told her I was saving and waiting and I intended to have at least £25k saved before I'd even think of looking for anywhere to buy. This is on top of the massive whack I put into a pension (I still maintain a pretty decent 'lifestyle' in terms of going out, clothes etc, although I've knocked the excessive foreign holidays on the head). She now thinks I am some sort of financial genius - its just common sense, isn't it? Don't spend every penny you earn and then borrow more.......?!!

Edited by Mancghirl

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Guest An Bearin Bui
Was up and about far too early this morning, so took a walk down to the corner shop to be confronted by the billboard proclaiming 'House Prices to fall 20%!'

Well, I thought that was worth 70p, so I broke my own golden rule and bought a copy of The Hootsman.

http://news.scotsman.com/scotland/HBOS-pre...2037.4348017.jp

:lol::lol:

Repeat after me, this only applies to England, this only applies to England, we are safe, we are safe. etc etc etc.

I notice ccc is valiantly battling against the numpties (property 'experts', dontcha know) in the comments section - denial is the order of the day for quite a few Scots yet it would seem.

The argument that the Scottish market has never seen a crash before so never will really cracks me up. The same argument was used in the US and Ireland up until 18 months ago when their markets started to seriously tank. Scotland never had a crash before because it never had a real boom before. Yes, prices rose a bit in the 80s because people had more money/better jobs etc but prices never really saw astronomical rises as have happened in the last 5 years. It's the boom that causes the bust!

My own in-laws are labouring through their own brand of denial right now as they're selling their house in the North. They insist that the 500k valuation is perfectly valid and that 'prices won't fall here - they never have'. We point out to them that the price has doubled in the space of just 7 years, which is unprecedented, but they're convinced their area is immune as there was never a crash in the past. What can you do with that level of denial? I want to see some property-selling Scots get schooled in the laws of economics this year. Sad that the country needs a schooling considering Adam Smith was Scottish... :angry:

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Sad that the country needs a schooling considering Adam Smith was Scottish... :angry:

Talk about resting on your laurels.......Gordon Brown and Alastair Darling are Scottish as well! And need I mention Scottish banks?

Bunch o' Bampots.

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Scotland will be WORSE affected because after 50 years of Eastern-Bloc style socialism there's no real economy left to generate wealth.

Scottish house prices were quite badly affected in the last property crash. Don't ask me why that doesn't show up in any of the stats. I would say Glasgow prices went down at least 20% peak to trough.

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Scotland will be WORSE affected because after 50 years of Eastern-Bloc style socialism there's no real economy left to generate wealth.

The problem in most of the main cities is that the wealth has been generated entirely by Financial Services, Tourism and the Public Sector. No-one in the press appears to have noticed this.....oh well. :rolleyes:

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My own in-laws are labouring through their own brand of denial right now as they're selling their house in the North.

Show them the Newsnight Scotland interview - its in the Media section

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The best thing about the Scotsmand articles are always the comments.

CCC does a valiant job. He puts across well argued facts and all he gets back are 'Supply and Demand' adn 'Scotland has never experienced a Bust, so is therefore immune'.

If it was a cricket match CCC would be hitting sixes left right and center whilst the opposiion can barely get a couple of runs between them.

keep up the good work if you are reading (and im sure you are ;)

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  • 395 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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