If we vote for Brexit what happens

always_sunny

Crashy_Time wrote: »

What actually happens during a housing bubble is that people tend to pay too much for very average property in not so great areas, then they just get caught out when the economic winds change and can`t sell for anything like they paid/borrowed. At least a renter can just walk away if the area/house isn`t up to expectations.

Walk away where? On someone's couch? For how long? Eventually they will be in the same shoes and even harder to get a mortgage, just getting the electoral roll updated takes months :eek:

You will be waiting a very long time if you are hoping to bag a house in London Zone 2/3/4 and beyond for a tenner!

gfplux

Rinoa wrote: »

German Finance Minister:

And so it begins.

http://www.telegraph.co.uk/news/2016/07/14/germany-states-british-access-to-eu-single-market-reasonable-bre/

Sorry you misquoted his quote.
He was reported as saying.
"Wolfgang Schäuble, the German Finance Minister, said that demands for British financial services firms to have access to the EU single market were 'reasonable'"

Although what he did NOT say was that the firms could still keep their HQ's in the UK and have access.

gfplux

Kohoutek wrote: »

Interesting comment on the FT's comment section:

Thanks for reminding us of that.

The damage to Quebec was done during the long period of uncertanty.
Britain has an ace up its sleeve. The real uncertanty only kicked in on the day after the referendum. That is only three weeks ago.
David Davis has said today that Britain will activate the clause to leave either at the end of the year or early January2017. He sees Britain leaving the EU by December 2018.
So certainty is now slowly, slowly replacing UNCERTAINTY.
I sincerely hope that this will minimise the "damage by a thousand cuts" that I mentioned before.

Crashy_Time

AnotherJoe wrote: »

Who are "they"? Since the housing market in Aberdeen is about 99% dependent upon oil jobs, anyone with more than the nervous system of a nematode could see that if / when NSea oil declined so would the town.

Anyone with similar brain power could easily see that when global credit declined so would the UK property market, add in Brexit and the demise of the EZ and it`s a no brainer. "They" are those who said "it`s different this time" or "New paradigm" or similar nonsense.

Crashy_Time

always_sunny wrote: »

Walk away where? On someone's couch? For how long? Eventually they will be in the same shoes and even harder to get a mortgage, just getting the electoral roll updated takes months :eek:

You will be waiting a very long time if you are hoping to bag a house in London Zone 2/3/4 and beyond for a tenner!

In the real world people usually walk away to another rented flat, radical concept I know, but that doesn`t change the fact that you can`t just "walk away" when stuck with a mortgage and negative equity.

ukcarper

Crashy_Time wrote: »

In the real world people usually walk away to another rented flat, radical concept I know, but that doesn`t change the fact that you can`t just "walk away" when stuck with a mortgage and negative equity.

Might be like that in Scotland but here in the south east good rental property is not easy to find.

ukcarper

Crashy_Time wrote: »

Anyone with similar brain power could easily see that when global credit declined so would the UK property market, add in Brexit and the demise of the EZ and it`s a no brainer. "They" are those who said "it`s different this time" or "New paradigm" or similar nonsense.

You could be right this time but it's to late for you as I doubt prices will fall to 1996 levels.

Crashy_Time

ukcarper wrote: »

Might be like that in Scotland but here in the south east good rental property is not easy to find.

How do you know, I thought you owned a house outright?

ukcarper

Crashy_Time wrote: »

How do you know, I thought you owned a house outright?

I do but I don't live in isolation.

You rent a room and claim to be the expert on house prices.

Crashy_Time

ukcarper wrote: »

I do but I don't live in isolation.

You rent a room and claim to be the expert on house prices.

I rent a flat and I am going to go out on a limb and claim that house prices are in a bubble. When was the last time you investigated the rental available in the SE?