If we vote for Brexit what happens

michael1234

Crashy_Time wrote: »

Yes, buying any property will have costs, but people need to budget for this, and they will be greatly helped in this regard when the UK property bubble finally pops.

It will only pop if supply increases and/or demand decreases. Supply would typically increase if mass unemployment or very high interest rates take hold. I think that's very unlikely in the medium term at least.

Most likely is a period of stagnation with low transaction levels but prices generally holding. That's not good but I think it is where we are.

peter_we

prices generally holding

Prices go up or down, never do they 'hold'

iantojones40

michael1234 wrote: »

It will only pop if supply increases and/or demand decreases. Supply would typically increase if mass unemployment or very high interest rates take hold. I think that's very unlikely in the medium term at least.

Most likely is a period of stagnation with low transaction levels but prices generally holding. That's not good but I think it is where we are.

I generally agree with what you're saying, but it certainly wouldn't need ''very high'' interest rates... just rates 3-4% higher than present would see plenty of the over leveraged debt junkies in all sorts of trouble.

ukcarper

iantojones40 wrote: »

I generally agree with what you're saying, but it certainly wouldn't need ''very high'' interest rates... just rates 3-4% higher than present would see plenty of the over leveraged debt junkies in all sorts of trouble.

How many over. Leveraged debt junkies are there no where near as many as you lot think. Lending criteria was tightened after credit crunch.

Wimpy say that there has been no change in the amount of property it has been selling since the referendum apart from a small fall in central London.

iantojones40

http://www.thetimes.co.uk/article/third-of-middle-classes-too-short-of-cash-to-pay-a-500-bill-lrgc5lb8g

QUOTE=ukcarper;71052303]How many over. Leveraged debt junkies are there no where near as many as you lot think. Lending criteria was tightened after credit crunch.

Wimpy say that there has been no change in the amount of property it has been selling since the referendum apart from a small fall in central London.[/QUOTE]

How about a third of all middle class professionals? (Which must easily add up to hundreds of thousands of households) Who would need to resort to borrowing money if faced with an unexpected bill of just £500.

Is that not what you would consider to be a significant number of over leveraged debt junkies?

ukcarper

That's not the same as being a debt Junky, when crunch come to push people find money to pay mortgage.

Rinoa

GlaxoSmithKline is to invest £275m to expand its UK manufacturing sites, saying the country remains "an attractive location" despite Brexit.
The pharmaceutical firm, whose chief executive Andrew Witty backed the Remain campaign, said the UK's skilled workforce and competitive tax system helped drive the decision.
It said most of the products made at the expanded sites would be exported.
The firm said it expected its investment to create new jobs.
"It is testament to our skilled UK workforce and the country's leading position in life sciences that we are making these investments in advanced manufacturing here," said Mr Witty.
The firm said the investment would be spread across three of its UK manufacturing sites: Barnard Castle in County Durham, Montrose in Angus, and Ware in Hertfordshire.
GlaxoSmithKline currently employs 16,000 people in the UK, 6,000 of which are employed in manufacturing.
There were some fears that pharmaceutical firms such as GSK and AstraZeneca may seek to move their headquarters following the outcome of the EU referendum.
Mr Witty had said prior to the vote that leaving the EU "would create uncertainty and potentially add complexity" for the UK's life sciences sector.

http://www.bbc.co.uk/news/business-36901027

iantojones40

ukcarper wrote: »

That's not the same as being a debt Junky, when crunch come to push people find money to pay mortgage.

Actually they are the perfect example of debt junkies, living beyond their means and relying on zirp and hpi forever to save themselves from going under.

You do realise you're not kidding anyone don't you?

Despite your claims to having an impartial opinion and no "skin in the game" as it were... its perfectly obvious from the tone of all your posts that you're deeply concerned about any potential fall in property prices or rise in I.R's

CLAPTON

interest article in the Guardian to about the lowwages rises in the UK since 2007

UK joins Greece at bottom of wage growth league


TUC found that between 2007 and 2015 in the UK, real wages fell by 10.4%, the joint lowest in OECD countries


A report by the TUC, published on Wednesday, shows that real earnings have declined more than 10% since the credit crunch began in 2007, leaving the UK equal bottom in a league table of wages growth.

Using data from the OECD’s recent employment outlook, the TUC found that over the same 2007-2015 period, real wages grew in Poland by 23%, in Germany by 14%, and in France by 11%. Across the OECD, real wages increased by an average of 6.7%.

The TUC found that between 2007 and 2015 in the UK, real wages – income from work adjusted for inflation – fell by 10.4%. That drop was equalled only by Greece in a list of 29 countries in the Organisation for Economic Cooperation and Development (OECD).

Clearly has nothing to do with increase in the supply of labour,





https://www.theguardian.com/money/2016/jul/27/uk-joins-greece-at-bottom-of-wage-growth-league-tuc-oecd

TrickyTree83

cells wrote: »

in any collective group with rules there will be those who benefit more and those who dont. Think of income taxes and healthcare. Those who dont pay any or much income taxes and make use of a lot of healthcare probably think the system is fantastic and fair and great value for money while those who pay significant incomes taxes and seldom need to use public healthcare probably think the system is terribly unfair and a change is needed

in a democratic system the majority will tend to vote for handouts from the minority be that income taxes in the uk or a few big countries being net providers in the EU

The UK walking out of the EU might be akin to a higher rate tax payer emigrating to a lower tax country.

I see what you're saying, I just don't think that freedom of movement should be such a hurdle. Free trade deals do exist in the world without the requirement for freedom of movement. Whilst I'm personally ok with the freedom of movement myself clearly there are people in the UK who are not, and clearly there are people all around the EU who are not, even governments of EU member states who are not ok with it.

So why are they not working towards an amicable solution instead of imposing ideology, it doesn't come across as very co-operative.