Can you imagine the destruction in the UK if the property market crashed

triathlon

I just cannot read what I am reading on the internet these days, people on so many websites who are actively trying to destroy the country they live in just so they can move into a cheap house.. Can you imagine the state of the UK if property prices were to collapse, 40% or even 50% or worse?

Millions of jobs would be lost as the economy would go under, Banks would collapse, pensions lost, people would become homeless, hard working immigrants would return home, nothing positive would come from it. Even if by some miracle these people got the cheap home they wanted with a property crash, though so many other factors would prevent this but kets forget that for now, can you imagine the state this country would be in.

People want to be careful want they wish for on that horrible hate website, it's even bordering on hate crime in my opinion, housepricecrash.com, wanting ill on other people to put right their weakness and inadequacies in life

Typhoon2000

House prices reflect the economy, not the other way round. If house prices we to collapse to that extent, the country would have already been “destroyed”.
And it would still only be the richer people who would still be able to finance such a house that has halved in value. Those not in a position to buy it now are unlikely to be in a position to buy it at 50% less due to unemployment, wage cut, high lending rates or revised lending criteria from banks that are still around to lend.

PhilE

House prices in the UK would probably be the last thing to go, due to supply and demand. It would need a population crash for a house price crash.

Otherwise, the economy would need to crash immensely to affect house prices. The sort of crash where people would be struggling to eat.

triathlon

PhilE wrote: »

House prices in the UK would probably be the last thing to go, due to supply and demand. It would need a population crash for a house price crash.

Otherwise, the economy would need to crash immensely to affect house prices. The sort of crash where people would be struggling to eat.

That's what I kept on saying to the diehards on housepricecrash, immigration is on the rise again with nothing to halt it, even the right wing nutters are now being put back in their boxes. I can see house price doubling again within several years

System

Only those with cash would be able to afford a house whose price had crashed 50%. No lender would risk it with the likelihood of a further crash coming.

Annie35

Erm, it happened only 10 years ago?? Houses in my area dropped 40% many (mainly lower end) still haven't recovered... the world didn't end however.

Do i wish that to happen again? No, But then, are old terraces worth 90k? No, I don't think that's value for the problems you buy, it would be good for the old sheds to come up like the £1 homes in Liverpool & hull & more people have the opportunity for homeownership without bankrupting all around you.

AG47

Annie35 wrote: »

Erm, it happened only 10 years ago?? Houses in my area dropped 40% many (mainly lower end) still haven't recovered... the world didn't end however.

Do i wish that to happen again? No, But then, are old terraces worth 90k? No, I don't think that's value for the problems you buy, it would be good for the old sheds to come up like the £1 homes in Liverpool & hull & more people have the opportunity for homeownership without bankrupting all around you.

It happens on average every decade and a half for the last few hundreds of years.

Boom and bust, nothing new under the sun.

Yes there will be another big bust, on average probably about a 30% property crash, less in some areas more some other places maybe 50% crash

Then stagnation and at some point another big boom which will go too far as we have seen over the last decade, and another bust.

No surprise this is just what has always happened and will continue to

triathlon

AG47 wrote: »

It happens on average every decade and a half for the last few hundreds of years.

Boom and bust, nothing new under the sun.

Yes there will be another big bust, on average probably about a 30% property crash, less in some areas more some other places maybe 50% crash

Then stagnation and at some point another big boom which will go too far as we have seen over the last decade, and another bust.

No surprise this is just what has always happened and will continue to

We are over the worst, if you can call it "the worst"

We are probably just starting a new 18 year Bull run now.

Sorry HPC.com, life must be hell for you now

BB x

Crashy_Time

PhilE wrote: »

House prices in the UK would probably be the last thing to go, due to supply and demand. It would need a population crash for a house price crash.

Otherwise, the economy would need to crash immensely to affect house prices. The sort of crash where people would be struggling to eat.

Obviously you are joking ( I hope) but there are other more deluded souls on here that probably believe this.

snowqueen555

triathlon wrote: »

I just cannot read what I am reading on the internet these days, people on so many websites who are actively trying to destroy the country they live in just so they can move into a cheap house.. Can you imagine the state of the UK if property prices were to collapse, 40% or even 50% or worse?

Millions of jobs would be lost as the economy would go under, Banks would collapse, pensions lost, people would become homeless, hard working immigrants would return home, nothing positive would come from it. Even if by some miracle these people got the cheap home they wanted with a property crash, though so many other factors would prevent this but kets forget that for now, can you imagine the state this country would be in.

People want to be careful want they wish for on that horrible hate website, it's even bordering on hate crime in my opinion, housepricecrash.com, wanting ill on other people to put right their weakness and inadequacies in life

It's great if you own a house, but not great if you are looking to buy.

Within reason, a market that keeps going up stupid percentages each year is just going to hurt future generations. Salaries are not keeping up.

People need to spend more on housing which takes away from other priorities in life.

markin

We may soon see it in AUS, 200 homes with only 1 bid. New car sales down 9%. IMF has said copy NZ and bail in

https://www.youtube.com/watch?v=MF-HT6N07gg


https://www.zerohedge.com/news/2018-12-10/australia-warned-prepare-severe-housing-collapse-and-banking-crisis