30% fall in property if no deal brexit

lisyloo

nrsql wrote: »

Would a fall in house prices be a bad thing?

Depends on the cause.
The best case IMO would be small nominal rises but a fall in real terms.
That would help everyone as mortgages are nominal.


A significant fall accompanied by job losses, economical armageddon, loss of confident is clearly not good for anyone.


When confident falls and jobs are lost en-mass this does NOT in general help the young or FTBs.

jimbog

Crashy_Time wrote: »

https://www.dailymail.co.uk/money/buytolet/article-6620839/How-Britains-239billion-buy-let-bubble-burst.html

From your link:
house price growth in the UK ....... 2.8 per cent

51mm5

51mm5 wrote: »

Not sure why people expect mass sell offs in the event of property prices falling. The reality is people stay put and wait it out, transactions fall but pure supply and demand keeps prices buoyant as the population still needs places to live. This is happening right now.

Crashy_Time wrote: »

Not in the volumes some on here would like to believe, and certainly not at any price (as shown by falling transactions and mortgage approvals)


https://www.dailymail.co.uk/money/buytolet/article-6620839/How-Britains-239billion-buy-let-bubble-burst.html

You conveniently forgot to highlight the whole sentence and cherrypick only part of it so I bolded what you missed :rotfl:

Crashy_Time

51mm5 wrote: »

You conveniently forgot to highlight the whole sentence and cherrypick only part of it so I bolded what you missed :rotfl:

Yes, SOME people will always need to move house and buy something, but not in the numbers required to keep transactions up at these prices, as evidenced by falling transactions! I don`t know why people keep confusing this with "supply and demand" (well I do actually :rotfl:) High house prices don`t benefit ordinary working people at all, people were lied to when they believed that a housing Ponzi/Lottery was a good thing (if they could sell at the right time and not need to buy somewhere else bigger or the same size) it really only worked for the banks lending figures ( and bonus pool)

Crashy_Time

jimbog wrote: »

From your link:
house price growth in the UK ....... 2.8 per cent

This doesn`t help lower transactions and lower mortgage lending though does it, and I am still confused as to why you think it is a good thing?? (even if we believe that the methodology used to reach the figure is sound/credible)

jimbog

Crashy_Time wrote: »

I am still confused as to why you think it is a good thing??

I never did

quantumlobster

Crashy_Time wrote: »

This doesn`t help lower transactions and lower mortgage lending though does it, and I am still confused as to why you think it is a good thing?? (even if we believe that the methodology used to reach the figure is sound/credible)

You believed it was credible when you thought it supported your position, otherwise you wouldn't have posted it, right?

Crashy_Time

quantumlobster wrote: »

You believed it was credible when you thought it supported your position, otherwise you wouldn't have posted it, right?

Quotes such as "Existing landlords are offloading around 3,800 properties a month" supported my belief that the BTL bubble may have burst.