30% fall in property if no deal brexit

lisyloo

snowqueen555 wrote: »

I honestly think house prices will be okay. People want a house above anything else and will make further sacrifices to make that happen. Saving longer borrowing more.

I think everything will be fine. Most want a deal rather than no deal so it will get sorted and it will be business as usual.

Those of us that have survived y2k and 9/11 have seen it all before.

I am hoping to exchange today (selling due to circs).

chucknorris

somethingcorporate wrote: »

Bitcoin. It's never gone down. Everyone that ever invested is now a gazillionaire.

You reminded me of a President Bush joke:

Giving Bush his daily Iraq war briefing, Donald Rumsfeld ended by saying: 'Yesterday, three Brazilian soldiers were killed.' 'Oh no!', exclaimed Bush. 'That's terrible.' His staff were stunned by this display of emotion. Finally Bush raised his head from his hands and asked: 'OK, so how many is a Brazillion?

Alice_Lewis

As for me, low prices is a good reason to buy some property. In few years the economy will rise again, I believe in that, and we'll have an opportunity to sell it on higher prices. Always be positive, folks!

AG47

Thrugelmir wrote: »

As is the case in Europe as a whole. The population is ageing. More affluence fewer children. Watch Japan in the future years. Ahead on the curve.

Yes japan is falling property every year

AG47

Alice_Lewis wrote: »

As for me, low prices is a good reason to buy some property. In few years the economy will rise again, I believe in that, and we'll have an opportunity to sell it on higher prices. Always be positive, folks!

What possible reason is there for the economy to improve?

Everything is points toward an almighty crash

fatbeetle

The-Joker wrote: »

There has never been a time like this for the UK in living memory.

The no deal Brexit will start a property crash with 30% down, then slowly down more and more for years to come.

I am talking about this time. George Osborne predicted in 2016 that "house prices could take an 18% hit over the next two years and there will be an “economic shock” that will increase the cost of mortgages if the UK votes to leave the EU."

His prediction was wrong.

So, can we rely on these predictions? Nope!

A Treasury study claimed a Leave vote would plunge the economy into an immediate recession, and lead to an increase in unemployment of half a million

France did not pull out of the Le Toucquet Agreement, causing migrant camps to appear in Kent, (predicted by David Cameron)

The forecast devaluation of the pound by nearly 20 percent against the euro, higher inflation: price rises soaring above wage increases, meaning a decline in living standards.

All failed to materialise.

PhilE

We don't know if his prediction is true, as we haven't left the EU yet.

But it could be more likely that the last thing to be drastically affected by a crash, would be property. Supply will never exceed demand. The UK population will go up, not down.

For property prices to plummet would mean that there is a big economic crash. At that point, you'd be more concerned about putting food on the table.

That needs to be accepted, you can't have a big property crash and not have a major economic crash that will affect our standard of life.

If people are finding it harder to get by, they could be less likely to sell. That again pushes prices up, as supply goes down. That pushes rent up also.

To want something that messes with the precarious balance of the economy, in the hope that property prices go down and everything else is absolutely fine, is madness. It may even have the opposite effect.

Thrugelmir

PhilE wrote: »

True, but the European property market isn't in question here.

The UK population is ageing. The baby boom generation is hitting retirement.

John_G_Jones

AG47 wrote: »

What possible reason is there for the economy to improve?

Everything is points toward an almighty crash

Record high employment, record low unemployment, a falling deficit, a stable pound, a narrowing wealth gap, a better educated workforce than ever before, scientific leaders, the world’s financial centre based here, low inflation, reasonable,wage growth...

I can’t conceive of how ignorant someone would have to be of economics to be unable to understand the positive signs.

And if I were a betting man ai’d bet that you will now dishonestly move the goalposts, not discuss this clear rebuttal of your claim that everything points towards a crash and mention some of the negatives, which in no way backs up your foolish assertion...

John_G_Jones

PhilE wrote: »

We don't know if his prediction is true, as we haven't left the EU yet.

But it could be more likely that the last thing to be drastically affected by a crash, would be property. Supply will never exceed demand. The UK population will go up, not down.

For property prices to plummet would mean that there is a big economic crash. At that point, you'd be more concerned about putting food on the table.

Yes, we do know that it was wrong. The prediction is that the major recession would follow the vote to leave, not the exit itself.