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

jimmyjammy001

House prices are currently over valued imo, in the past few years near where I live in the South West, 2 bedroom starter homes have gone up by 30-40% which is just outright unsustainable, something does need to happen because it can not simply go on like that.
Everyone is just saving every penny they can for a house deposit, which I believe is the main reason why the high street is going under and many other companies going into administration, people just aren't spending and are prioritising trying to get a roof over their heads.
The Government has failed the housing market massively by offering loan type house deposits of 20% to people so they can buy a new build house, which has just pushed up prices by 20% and allowed house builders to make record profits and bonuses for their ceo's. Crazy! If houses are scarce then there should be a limit on how many people can buy and only if you are a resident of the country, I believe that does not fit in with this Governments agenda so that will never happen unfortunately, I do feel sorry for all the people in their early twenties who do not have the bank of mum and dad to help out, the likely hood is that they will never own a home,or if they do will have maxed out every credit stream possible to them.

triathlon

Crashy_Time wrote: »

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

Who should we believe, your hundreds of failed predictions which has left you in a bedsit or worse, or should we believe everyone else who ignored you and went on to prosper, please stop trying to drag the world down with you:(

triathlon

jimmyjammy001 wrote: »

House prices are currently over valued imo, in the past few years near where I live in the South West, 2 bedroom starter homes have gone up by 30-40% which is just outright unsustainable, something does need to happen because it can not simply go on like that.
Everyone is just saving every penny they can for a house deposit, which I believe is the main reason why the high street is going under and many other companies going into administration, people just aren't spending and are prioritising trying to get a roof over their heads.
The Government has failed the housing market massively by offering loan type house deposits of 20% to people so they can buy a new build house, which has just pushed up prices by 20% and allowed house builders to make record profits and bonuses for their ceo's. Crazy! If houses are scarce then there should be a limit on how many people can buy and only if you are a resident of the country, I believe that does not fit in with this Governments agenda so that will never happen unfortunately, I do feel sorry for all the people in their early twenties who do not have the bank of mum and dad to help out, the likely hood is that they will never own a home,or if they do will have maxed out every credit stream possible to them.

Hi Jimmy

I have been reading posts like yours for nearly 20 years now on housepricecrash.com and watched lives being ruined, some post here. By all means complain about expensive housing, because yes it is, but I beg you don't make a plan which involves sitting on your hands waiting for a crash. If you do you are doomed to failure like so many others, beg, borrow or steal, but somehow get yourself into that first home, you will never regret it, the alternative is just frightening.

AG47

triathlon wrote: »

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

We haven’t yet had the bust,

We certainly had the boom over the last decade but the bust is just starting.

Brexit is only the icing on the cake, the natural cycle is due a big bust anyway about now.

Brexit uncertainty will just make the crash more like the one down under right now, 1 buyer for every 200 properties desperately trying to undercut each other.

markin wrote: »

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

triathlon

AG47 wrote: »

We haven’t yet had the bust,

We certainly had the boom over the last decade but the bust is just starting.

Brexit is only the icing on the cake, the natural cycle is due a big bust anyway about now.

Brexit uncertainty will just make the crash more like the one down under right now, 1 buyer for every 200 properties desperately trying to undercut each other.

Sorry to break this to you, but this is the UK, a country with a rapidly rising population and little space.

andrewf75

You're obsessed. Isn't there some other website you can post this nonsense on?

Gwendo40

andrewf75 wrote: »

You're obsessed. Isn't there some other website you can post this nonsense on?

I've given up on Triathlon, I've tried numerous times to advise them to get the help that they obviously need, but I suppose some peoples unhealthily obsessive thoughts and actions are just too deeply ingrained.

Herzlos

Crashy_Time wrote: »

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

How big a crash do you need to hit your break even point now? 125%?

phillw

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.

What year and what is your area? I didn't notice anything like that in 2009 in the south east.

triathlon wrote: »

Sorry to break this to you, but this is the UK, a country with a rapidly rising population and little space.

Not sure of the likelihood, but population could reduce and they could open up more land for house building. Although the land may be more important for growing food.

AG47

triathlon wrote: »

Sorry to break this to you, but this is the UK, a country with a rapidly rising population and little space.

A refugee camp has much larger population and less space, but it matters not how many want a property all that matters is many can afford said property

The little space argument is nonsense anyway, it's less than 5% used for properties of the U.K., the other 95% could still be built on

Japan has twice the population for around the same land as the uk