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

Thrugelmir

phillw wrote: »

The housing market will just become a target for large cash rich investors.

Might already exist for you know. Private companies tend to go about their business quietly and discreetly.

phillw

Thrugelmir wrote: »

Might already exist for you know. Private companies tend to go about their business quietly and discreetly.

Maybe, although there are still plenty of BTL landlords & lending hasn't dried up so the bargains aren't ripe for the taking. The out of touch elite will be picking them up soon, thanks to us handing our rights away.

AG47

It’s the uncertainty that is the worst possible impact on house prices

51mm5

We’ve had uncertainty for nearly 3 years yet , on average prices have risen

AG47

It’s getting more uncertain by the hour

lisyloo

AG47 wrote: »

It’s getting more uncertain by the hour

It’s not a linear progression.
There’s a law of diminishing returns on your pessimism.

For example if someone decides not to move house, then it can’t get any worse.

I think right now it’s getting more certain that we won’t have a no deal and will have a longer extension.
That might not help everyone doing long term planning, but it will help some.

Armageddon is postponed..........phew

phillw

lisyloo wrote: »

I think right now it’s getting more certain that we won’t have a no deal and will have a longer extension.

I'm not feeling that. All they've ruled out so far is a planned no deal, a shock unplanned no deal is still on the table.

We're not choosing to drink the kool aid, but the political elite (Boris, Farage, Mogg) might start pouring it down our throats soon.

homeless9

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?

I am not sure what you have been reading, but....

When a lot of younger people have saved their butts off, like really saved their nuts off, yet house prices have risen at such a rate that you'd have to be saving £10,000-15,000+ per year just to have kept up with the price increases of 2 bedroom homes..... then something is wrong...that's my situation.

The government have done nothing to push house builders to get on and build. They have introduced a Help To Buy Scheme, giving people up to a 20% loan to help them buy a property, they are effectively saying 'house prices are 20% overpriced so here's a big fat loan so you can help keep up the demand for housing and increase house prices even more'.

My parents bought a large 3 bedroom home for £65,000 in the late 80's on a £7,000 teachers income and had 2 children at the time. For a couple to buy that same house today, valued at £450,000, as an example - they'd need a household income of £80,000 and a whopping £90,000 deposit.

Houses are waaaaaaaay overvalued. If the Government is only making house prices increase, and making it even harder year on year to get on the property ladder, then I am glad if the people are wanting change and wanting house prices to drop and maybe they are taking action in a drastic way, but have no choice. We will see how things play out....but a 20% drop would be welcome.

Malthusian

phillw wrote: »

We're not choosing to drink the kool aid, but the political elite (Boris, Farage, Mogg) might start pouring it down our throats soon.

I like this new political elite that is elite by being virtue of virtually powerless. Specifically, named here is a backbench MP / former minister, a backbench MP who has never left the backbenches, and the former leader of a minority party which has had 2 MPs in its history.

They are so elite they don't even need to have power to be elite. Power is beneath them.

Mostly they are more elite than the people who actually make decisions because they done talk funny.

Before anyone says "but Farage caused Brexit so he's powerful" - no he didn't. Cameron, being the Prime Minister of the UK at the time, caused Brexit. If Cameron had decided not to call a referendum, what would Farage have done about it using his elite-class political power? Balled up his little fists and cried?

lisyloo

phillw wrote: »

I'm not feeling that. All they've ruled out so far is a planned no deal, a shock unplanned no deal is still on the table.

We're not choosing to drink the kool aid, but the political elite (Boris, Farage, Mogg) might start pouring it down our throats soon.

This seems like a silly Argument to me.
Who is going to enforce a no deal brexit?
The EU? - they don’t want it?