If we vote for Brexit what happens

marksoton

jojo_bambi wrote: »

I'm near the end of the house buying process and just asked for a discount on the house in light of the economy uncertainty. Now not heard anything in a couple of days... do you think this was the right thing to have done?!

I think the silence is your answer.

CLAPTON

wotsthat wrote: »

Falling exchange rate = not brexit but an inevitable awakening to the trade deficit.

Falling GDP = not brexit but a good thing where living costs fall and wages rise.

I'm sure we'll be fine but the partisan nature of some of the crap on here surprises even me.

interesting concept to discuss in a non 'partisan' way the future impact of
-trade balance and factors that impact
-the relevance of GDP on living standards
-whether per capita GDP is more relevant that GDP
-future infrastructure costs and impact are affected by population
-whether housing standards matter
-does level of the pound matter
-should we use rhe euro or the dollar or stay with the pound
etc
etc

all in a non-partisan way

buglawton

jojo_bambi wrote: »

I'm near the end of the house buying process and just asked for a discount on the house in light of the economy uncertainty. Now not heard anything in a couple of days... do you think this was the right thing to have done?!

If it's exactly the property you need, ticks all the boxes, and you have mortgage approved on it, then other buyers with the same criteria will happily step in if you drop out.

If you don't really mind losing this one of the seller reacts negatively, by all means try to haggle.

Clutterfree

jojo_bambi wrote: »

I'm near the end of the house buying process and just asked for a discount on the house in light of the economy uncertainty. Now not heard anything in a couple of days... do you think this was the right thing to have done?!

Referendum was 3 weeks ago yet you've waited until just before exchange to gazunder? Nice!

MobileSaver

jojo_bambi wrote: »

just asked for a discount on the house in light of the economy uncertainty. ... do you think this was the right thing to have done?!

There is no rational reason for asking for a discount so you have taken a gamble.

1) The vendor may agree with you or may be desperate to sell and so agree to a discount, or
2) The vendor may think you're a bit of a chancer/timewaster and not want to deal with you any more.

"You've got to ask yourself one question. Do I feel lucky? Well, do ya, punk?"

smile88egc

I would suggest that a strong likely good prices will drop over the next 12 -18 months is a perfectly rational reason to ask for a reduction!

I certainly wouldn't be paying full price on anything I offered full asking price on pre-referendum.

Unless you are sure you will stay in a property at least 5 years plus, now is way too risky a time to be buying at an inflated price.

Generali

cells wrote: »

It's virtually impossible if it isn't show one time its happened in any country

As I said GDP is largely a measure of wages. In a developed nation about 70% of GDP is wages. There is virtually no way for GDP to go down but wages to go up.

Its easily to prove mathematically but I won't bore you with that I will just ask that you provide any evidence of wages going up while GDP goes down for any sustained period.

So be decent and accept that falling GDP means 'to the man on the street' that his wage is falling or he and his friends are getting fired

GDP is not 70% wages in the UK according to the ONS via The Blue Book:



https://www.ons.gov.uk/economy/grossdomesticproductgdp/compendium/unitedkingdomnationalaccountsthebluebook/2014-10-31/chapter01nationalaccountsataglance#headline-gdp

ruelle

Prices to drop by 4% next year

http://www.telegraph.co.uk/business/2016/07/16/uk-to-skirt-recession-as-house-prices-drop-and-joblessness-climb/

michaels

I would have thought gdp per head is more relevant to most than gdp?

And even gdp per head is a very poor indicator of how well 'the average man on the street' feels he is doing. Few would deny that globalisation has led to increased income and wealth inequality under which fewer haves have done better than average than havenots who have seen their real incomes stagnate for two decades.

This is not supposed to be a value judgement post, just a counterpoint to the conversation about absolute levels of gdp.

lydriver

if only you could use this approach when buying cars...
"it's going to be worth a lot less in 18 months so I want a reduction in price please" :A

if and when prices fall, is when there should be a reduction, only it won't be aq reduction it'll just be the price at that time!