Saturday, April 22, 2017

What price can Generation Rent afford, though? 50% lower I guess.

Gross mortgage lending down 19% year-on-year

"With people increasingly wary of rate rises, remortgage levels also remain high. Inflationary pressure to come means the first rate rise in a long time may no longer be too far off. Brexit-related uncertainty continues to see many would-be movers sit on their hands, and the General Election could see even more conservatism in the months ahead. Dire supply levels are also damaging demand. There's very little on the market and people aren't in a hurry to buy homes they sense are languishing rather than electrifying. At the high end of the market there has been an influx of cash buyers over the past nine months given the weakness of the Pound. But with Sterling seemingly in bounce-back mode, we may see this trend tail off."

Posted by sneaker @ 09:46 AM (7753 views)
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9 thoughts on “What price can Generation Rent afford, though? 50% lower I guess.

  • Amazing how quiet it is here.

    Where is everyone?

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  • @1 I know! Maybe I’ll get round to posting an article…

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  • HAVE THE BEARS CAPITULATED???

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  • @Sneaker

    “HAVE THE BEARS CAPITULATED???”

    To some extent, my answer is yes. I think our politicians and central bankers made a cold blooded choice to prop up the housing market to dodge the consequences of poor decisions and, to some extent, they have succeeded in that endeavour. If circumstances dictated that you couldn’t get on the ladder at the right time then that’s too bad. I am not gloating. I think this is a disgrace. But there’s no chance of fixing the problem until it is understood and we’re a long way from having a proper discussion in MSM and mainstream politics. Brexit will overshadow everything else for the next few years.

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  • This site has been extremely quiet for sometime and I suspect lots of people have capitulated and made a purchase (my 2 children included).

    A House Price Crash simply hasn’t happened during the life of this site (odd correction maybe but not severe enough IMO to constitute a Crash). Perhaps the activity will return if we do get a downturn in prices but for the majority of the time the reporting at least is up not down.

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  • Bears capitulating is an interesting sign.

    The last time this site went quiet was just befor the last crash!

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  • To be clear — that was just under 10 years ago. It’s been totally bearish ever since 2009 but suddenly the bearishness disappeared in the last year. Take note of that!

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  • As Jack c said….. what crash?

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