How low will property go?

System

Lol good answer. Most people are clueless and don't know what you mean by that

System

Wrong answer. Ask the bond market....

economic

as has always happened the current trend of lower rates and higher stocks will break some point, in a big way by some sort of crisis which no one really knows is going to come. itll be a surprse. my guess is it will be driven by massive dollar strengthening causing global foreign USD debts to default trigering the next crisis.

Crashy_Time

chucknorris wrote: »

Even if you achieved your wildest dreams of falling house prices, it still wouldn't put you back level where you were decades ago when you sold out of the market and rented (although I must say, I expect you not to get that point).

Stop posting this dribble, please.

chucknorris

michaels wrote: »

My pension pot seems to be up 15-20% since the Brexit vote

Mine is well up too, but alas merely mainly (but still very welcome) recovery for my equities, although I did manage to get about another £70k (not tax wrapped though) invested in the ftse 100 at an average price of around 6,250 while the markets were down.

I also switched some investments while the market was down to lock in some notional capital losses, I can carry these losses forward and offset them against capital gains tax in subsequent tax years when I later sell property. But in the meantime, what I switched has recovered, so the although the losses disappeared, I was still able to take advantage.

chucknorris

Crashy_Time wrote: »

Stop posting this dribble, please.

Just because you don't understand it (like I said, I didn't expect you to get it, thanks for confirming), doesn't make it dribble :rotfl:

Furthermore, I don't know why you take such an interest in house prices, it isn't as if you will ever buy. Obviously I take an interest because we will at some point sell, and cash in (one property is actually going on the market now, my wife is meeting with estate agents later today).

westernpromise

The £225k in US equities I had 3 months ago are now worth £275k. About half the gain seems to be from the Brexit exchange rate correction, so it's lovely to be given free money on that scale in this way.

chucknorris

cells wrote: »

Insurance is only bad value when it is priced wrong. With most insurance it is badly priced as it has overheads like tax and a workforce to administer it and buildings for people to work in and so on and so on.

That doesn't have to be the case. With financial products especially with the large indices I think its just 1 point spread or about 1/6800.

So £1 insurance buys £6,800 cover. Of course that still might not be worthwhile for whatever it is you plan to do.

I'm completing my transfer from Fidelity to HL, what I have decided to do is borrow some cash from my wife, so that I can buy at HL at the same time that my fund is sold at Fidelity. I can't do that with the last part of my ISA at Fidelity, so I will wait to switch that when they are offering a cashback (last year the cashback I received for doing the same thing was £500), if it is the same, that would compensate me for a 0.4% move against me in the market, although it could of course actually work in my favour too.

cells

I think it now looks quite likely we will have a correction/crash in the short term. I was able to submit a mortgage application which was approved the same day and the surveyor was at the property the morning after, I have never had such a quick turnaround before. This tells me clearly, if any more evidence was needed, that there has been a crash in the volume of mortgage approvals and the amount of work surveyors are getting.

Things might turn around upwards as quickly as they turned around downwards but I don't think that looks likely right now. The combination and timing of both Brexit and the BTL tax changes hitting together is/has taken the wind out of the market

chucknorris

cells wrote: »

I think it now looks quite likely we will have a correction/crash in the short term. I was able to submit a mortgage application which was approved the same day and the surveyor was at the property the morning after, I have never had such a quick turnaround before. This tells me clearly, if any more evidence was needed, that there has been a crash in the volume of mortgage approvals and the amount of work surveyors are getting.

Things might turn around upwards as quickly as they turned around downwards but I don't think that looks likely right now. The combination and timing of both Brexit and the BTL tax changes hitting together is/has taken the wind out of the market

My wife is putting a house on the market, the feedback that she has had from the estate agents is that most are waiting to see what happens (both buyers and sellers). If potential sellers aren't putting their properties on the market I don't think that there will be much of a dip. But we don't know what the actual damage to the economy from Brexit will be of course, that I think will be the deciding factor.