30% fall in property if no deal brexit

MaxiRobriguez

Sailtheworld wrote: »

You must be kidding. You know this information and all you're going to do with it is try and get a slightly bigger house? Not thinking big enough.

In the context of this conversation I assumed we were only talking about people moving houses, rather than accessing the millions in their offshore accounts to complete a hostile takeover of Taylor Wimpey.

Sailtheworld

MaxiRobriguez wrote: »

In the context of this conversation I assumed we were only talking about people moving houses, rather than accessing the millions in their offshore accounts to complete a hostile takeover of Taylor Wimpey.

We are talking big money here. DannyGold has got 3 gold sovereigns and a silver teaspoon from his Christening buried in his mum's garden.

RealElement47

I personall haven't got any gold.

Silver is now more rare in available supplies and more needed than gold.

And silver is going up fast than gold in this new bull market.

The gold to silver ratio is now falling from 93 down to 83 silver parts valued for one part gold.

triathlon

RealElement47 wrote: »

I personall haven't got any gold.

Silver is now more rare in available supplies and more needed than gold.

And silver is going up fast than gold in this new bull market.

The gold to silver ratio is now falling from 93 down to 83 silver parts valued for one part gold.

It is so easy to understand why you don't and never will own your own home. I bet you are a Bitcoin holding Brexiteer as well?

RealElement47

triathlon wrote: »

It is so easy to understand why you don't and never will own your own home. I bet you are a Bitcoin holding Brexiteer as well?

Nope I hate bitcoin and all digital illusions of wealth.

I will only think about buying property the other side of the next correction in property prices

Green_Bear

RealElement47 wrote: »

Nope I hate bitcoin and all digital illusions of wealth.

I will only think about buying property the other side of the next correction in property prices

UK property is historically cheap, when priced in gold or even silver.
House prices have only 'recovered' (in some parts of the UK) when measured in fiat.

If you sold UK property in 2006 and bought gold - you'd be laughing.

But I think that's it now. The UK is sliding downhill. A busted flush.
The real money has gone East and only an illusion of wealth remains - ie the fiat system.

Green_Bear

DannyGold wrote: »

Can you imagine the misery if somebody put so much time and effort into a dream home only to see the values crash, and now somebody could get an even better dream home for far less?

No, it wouldn't matter - if you price property relative to property.

Tomorrow I buy a house for £100k. I spend another £50k improving it.
So now, it should be worth similar condition houses at £150k.

Next year the market drops.
My house is only worth £80k.
Well, surely those similar houses are also now worth £80k.

So if I want to move?
Actually it's good news for me - because less stamp duty to move to a similar house.

Green_Bear

MaxiRobriguez wrote: »

Knowing when is hardly much use either. If you're trading up then it might be beneficial but if house prices are declining then the probability is that lending has tightened or interest rates are up.

There's only a very small window where on the ball, flexible people (who perhaps have paid a premium to be in such a position to start with) can benefit.

For everyone else, the guidance should be to not overpay in the first place, remortgage sensibly and don't overstretch.

I agree.
If you're a FTB with all the money saved up to buy a house outright AND you can live rent free until you want to buy, then obviously buying in a crash is good news.

But for most people, it doesn't matter. It's all about keeping up the mortgage repayments.

westernpromise

Green_Bear wrote: »

Actually it's good news for me - because less stamp duty to move to a similar house.

Don't you believe it. Stamp duty is going nowhere but up. I paid £2,500 stamp duty on a flat I bought in 1999. The stamp duty today on the same property would be about £40,000. The flat's value has not increased by a factor of 16, but the tax has.

If house prices halved, stamp duty rates would probably quadruple or something.

Green_Bear

RealElement47 wrote: »

I personall haven't got any gold.

Silver is now more rare in available supplies and more needed than gold.

And silver is going up fast than gold in this new bull market.

The gold to silver ratio is now falling from 93 down to 83 silver parts valued for one part gold.

At what ratio level would you sell your silver to buy gold?
60?
50?