If we vote for Brexit what happens

Crashy_Time

Grenage wrote: »

Or they don't care, and they're just getting on with their lives... in their house. Must be awful.

The negative equity after buying (borrowing) into a massive bubble that then pops would be awful, yes.

Crashy_Time

lydriver wrote: »

I'm sure everyone posting in this thread who has just bought are aware prices may fall

they can obviously afford to take the hit if it comes to it - unlikely someone on a money saving forum is going to take decisions on the biggest purchase of their life lightly![/QUOTE]



Don`t agree with that, many who post here about property seem to have wanted to get on the "ladder" at any cost, and there were no shortage of people cheerleading them on. I have often commented on the irony in this considering the name of the website.

always_sunny

peter_we wrote: »

The EU only jobs will move very quickly. There will be a stampede one the first company move out of the UK because the first to move gets access to the limited supply of people, locations, power and data feeds.

Anyway, do you think anyone in finance is going to buy with the Sword of Damocles hanging over them? If there is even a hint that a move abroad is required, selling up would be the best option.

I noticed in my area, Battersea (1/2 mile around me, anyway) there are loads of reductions and new instruction but no sales since Brexit vote.

I wouldn't say that Battersea (1/2 mile around you) is (or was) in any shape or form affordable. That bubble was meant to pop brexit or not. £500k+ for a 1 bedder? Is there any reduction on 'affordable' flats? Is there even a 1 bed for less than £250k?

CLAPTON

danothy wrote: »

One non-discriminatory way would be to come up with some objective criteria that qualifies an individual for right to residency without reference to their ethnicity or race, and then apply that to everyone who wants residency, be they born here or not. That way you could have the population limits you so desire, along with a control over the "quality" of person in the UK without being racist. The only disadvantage for you there is that you'd probably not make the cut.

is this system something you actually support or do you think that all 8,000,000,000 people should be allowed to settle here

david1951

there are so many contributers urging people to over extend themselves and get into as much mortgage debt as they can possibly obtain

Do you have any evidence of this? I'm not saying you're wrong but I've never seen it...

cells

CLAPTON wrote: »

is this system something you actaully support or do you think that all 8,000,000,000 people should be allowed to settle here

at some stage free movement globally is inevitable.

also just because people have the right to move to the UK or country x doesn't mean they will do so. Some 450 million Europeans have the right to move to the uk for not much more than a £50 plane ticket. Yet 99.9% dont

CLAPTON

cells wrote: »

at some stage free movement globally is inevitable.

also just because people have the right to move to the UK or country x doesn't mean they will do so. Some 450 million Europeans have the right to move to the uk for not much more than a £50 plane ticket. Yet 99.9% dont

it is extremely unlikley that free movement of people will take place in the next 500 years, unless we have a WW3 and all law and order breaks down and free movement means a new viking invasion.

europe is a relatively rich and war free region and is no guide to what would happen if the whole world was free to come to the UK

ElsieMonkey

I think there's just as many people less willing to sell now, as people unwilling to buy, both cancelling each other out.

ElsieMonkey

Thrugelmir wrote: »

Any rational explanation as to why it rose £200k in value 3 years though. You wouldn't be able to afford the property yourself now. Nor can many others.

You're wrong, there's plenty of people shopping in my area for properties of similar price or even more evident from the amount that go under offer in a short space of time. And not sure why you assume I wouldn't be able to afford the property now...maybe I didn't want to stretch myself that far when I bought it?! Not everyone does you know.

ElsieMonkey

Thrugelmir wrote: »

With a flat there's always the length of the remaining lease to consider. Along with the service charges levied.

Oh gawddd hadn't considered the lease, thanks!

Lease in excess of 900 years, service charge nothing out of the ordinary.
Not that it's relevant.

You're very much scraping the barrell to find something negative.

I have already said, if prices drop, so be it. If prices reduce for me they will for the whole country so I won't be out of pocket when buying on. I'm not a homeowner trying to convince anyone of anything here! Fact is for me, I haven't seen any evidence of prices falling in my area, so if I was selling and someone made ridiculously low offer because of Brexit, I'm not going to be the first fool to accept when no one else around me selling has! So buyers can wait 2+ years to find out what really is happening with the Brexit deal, or get fed up of waiting for sellers to cave in and just get on with their lives.

It may be different in other parts of the country granted.But on the whole I think people need to start being more balanced about the whole thing.

Even Mark Carney came out the other day saying he doesn't think anyone should hold off a purchase of a long term home, and urges people to take the same cautious approach as usual, regarding mortgage you take out and affordability.