Why don't people cheer the brilliant elements of No-Deal crash- Such as making property affordable?

Autumn86

I personally can't wait for the No-Deal Crash which is now basically 100% guaranteed!

*Property prices will hopefully crash,
meaning prospective buyers like me with large cash deposits will be able to buy a property for a much cheaper price.

*There will be a shortage of available staff to cover essential public-sector jobs such as NHS, so pay will be forced even higher for jobs such as mine.


Brilliant stuff ~ Don't get why people aren't cheering & celebrating this property price correction.

parking_question_chap

Its difficult to cheer when the reason for the crash is people losing their jobs and subsequent reposessions.

Norman_Castle

*Property prices will hopefully crash,
meaning prospective buyers like me with large cash deposits will be able to buy a property for a much cheaper price.

*There will be a shortage of available staff to cover essential public-sector jobs such as NHS, so pay will be forced even higher for jobs such as mine.

Thats, basically, wishful thinking.

movilogo

Because mainstream media, backed by big businesses, run the propaganda to make people believe No Deal is end of the world.

Fewer immigrants leads to less transations and more salary for employees, which affects their bottom line profit. So it is their best interest to have a "deal" with EU and maintain status quo.

They are very good at making people believe it is good for the masses too.

People lose job all the time - don't forget economic crash in 2008-9 when UK was inside EU.

MobileSaver

Autumn86 wrote: »

Don't get why people aren't cheering & celebrating this property price correction.

Because only a fool would believe that a property price crash would be in complete isolation to everything else that affects being able to buy a house.

A house price crash isn't the HPC nirvana if...

• you've just lost your job due to the economic downturn
• you can't get a mortgage because lenders have modified their lending criteria to reduce their risk
• existing owners choose to stay put and not sell until the downturn is over
• developers slow or stop building new houses until the downturn is over

stator

Because it's not going to happen. Spreading this type of scaremongering is silly

missile

Autumn86 wrote: »

I personally can't wait for the No-Deal Crash which is now basically 100% guaranteed!

*Property prices will hopefully crash,
meaning prospective buyers like me with large cash deposits will be able to buy a property for a much cheaper price.

*There will be a shortage of available staff to cover essential public-sector jobs such as NHS, so pay will be forced even higher for jobs such as mine.


Brilliant stuff ~ Don't get why people aren't cheering & celebrating this property price correction.

I am OK Joe, self interest Brexiteer? :mad:
Those who have a home which will be worth less than their mortgage are not going to cheer.
Those who have to wait even longer for an operation, because those nasty immigrant NHS staff have all gone home, are not going to cheer

movilogo

Those who have a home which will be worth less than their mortgage are not going to cheer.

If number of such people is fewer than people who are priced out of property market, then a small number of people can take hit short term. In fact, if they are not selling then short term negative equity is not big thing.

Those who have to wait even longer for an operation, because those nasty immigrant NHS staff have all gone home, are not going to cheer

Only 5% of NHS staff are from EU. If they all go home, this is also get appointments faster due to fewer people queuing.

So for every Pro-EU argument, there is counter argument.

I am OK Joe, self interest Brexiteer?

or self interest Remoaner?

Herzlos

Autumn86 wrote: »

*Property prices will hopefully crash,
meaning prospective buyers like me with large cash deposits will be able to buy a property for a much cheaper price.

Mortgage costs will shoot up and criteria will tighten up hugely. Banks may decide to not even offer new mortgages on depreciating assets. A huge price crash will be great for the pure cash buyers, so will favour the super-rich and their asset stripping. Normal people will really struggle to get mortgages, or will find huge rates. If it gets bad enough, you might need to put up in the region of 50% deposits.


It's also terrible news with anyone with investments including pensions. Aiming to retire any time soon? Good luck if your NHS pension, backed up by property investments, takes a nose dive.

*There will be a shortage of available staff to cover essential public-sector jobs such as NHS, so pay will be forced even higher for jobs such as mine.

Or they'll just shut down NHS units and lay you off, or bring in staff from outside Europe, or sell off NHS units to private companies who'll still pay you as little as possible but strip all of your other benefits, or you'll just continue to run understaffed and have to deal with more pressure, more queues, less breaks and so on.

Don't get why people aren't cheering & celebrating this property price correction.

Because the only people who won't be getting screwed by it will be the establishment that Brexit was meant to be a protest about.

qwert_yuiop

You may be in the happy position of having saved enough money to buy your house outright. Otherwise, a property crash will be linked with a downturn involving unemployment, short time, pay cuts.

Mnd

And if property prices crash by that much, then nobody will be selling anyway