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

AG47

phillw wrote: »

It'll certainly be at the top end of the market, rich people abandoning the uk for a better life elsewhere away from the poverty.

Especially foreign property owners pulling out, the pound sterling is going down over the next few years on top of property going down so it’s a double whammy

James_Green_1982

MobileSaver wrote: »

Well, yes, as we are about to leave the EU which has brought us great prosperity over the last few decades.



Again, yes, this is a possibility as an awful lot of people in this country are about to find out that the EU was not the reason they have not been successful in life and I'm not sure who they are going to blame next; 'cos it's always someone else's fault, right?



But, no, I am afraid that you, Crashy Time and the rest of the HPC zealots are not going to see 50% off house prices by Christmas.

Probably the immigrants (who are actually running most of the small businesses that keep UK towns going). The government (and the media) will have their list of scapegoats prepared.

It definitely won't be the fault of the wealthy landowners or the management of large businesses buying back shares with cheap money.

James_Green_1982

phillw wrote: »

It'll certainly be at the top end of the market, rich people abandoning the uk for a better life elsewhere away from the poverty.

It's the poverty (and cheap labour etc) that keeps those people rich.
So I'm not sure they will be abandoning the UK any time soon.

phillw

James_Green_1982 wrote: »

It's the poverty (and cheap labour etc) that keeps those people rich.
So I'm not sure they will be abandoning the UK any time soon.

Some of the rich leave voters already have, although they may be keeping their property here to visit (but not enough so they become domiciled in the UK for tax purposes)

Crashy_Time

James_Green_1982 wrote: »

It's the poverty (and cheap labour etc) that keeps those people rich.
So I'm not sure they will be abandoning the UK any time soon.

Exactly, so they will just need to find a new scam to enrich themselves. It won`t be shovelling out cheap credit to inflate the price of crap homes this time though, wonder what it will be?

AG47

Crashy_Time wrote: »

Exactly, so they will just need to find a new scam to enrich themselves. It won`t be shovelling out cheap credit to inflate the price of crap homes this time though, wonder what it will be?

Whatever the next scam is I hope it stays away from the UK.

Whatever, the big property price crash correction is lookin*more likely to be more serious and more drawn out by the day.

phillw

AG47 wrote: »

Whatever the next scam is I hope it stays away from the UK.

The next scam is brexit, we're taking it with us.

AG47

phillw wrote: »

The next scam is brexit, we're taking it with us.

Mark Carney said 35% over three years, a source told the BBC.

https://www.bbc.co.uk/news/business-45516678

But now experts are saying now the no deal has been extended and drawn out it could be more than 35% crash over several years

MobileSaver

AG47 wrote: »

Mark Carney said 35% over three years

Actually Carney said worst-case scenario was as much as 35% but of course that's the problem with you, Crashy Time and other HPC fanatics; you are all glass half empty people and always assume the worst is a foregone conclusion.

The reality is that the worst case hardly ever happens, common sense normally prevails and that's why your numerous predictions have been so demonstrably wrong so many times.

James_Green_1982

AG47 wrote: »

Mark Carney said 35% over three years, a source told the BBC.

https://www.bbc.co.uk/news/business-45516678

But now experts are saying now the no deal has been extended and drawn out it could be more than 35% crash over several years

Mark Carney works for the BoE who pretty much control house prices (via interest rates, QE etc). So he's not really making ''predictions''.