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

lisyloo

westernpromise wrote: »

Interesting dating tip though lisyloo. Thanks.
"Well hello. What's a nice girl like you doing in a nice place like this? By way, fill yer boots with property."
"Ooo, you're such a charmer!"

It can't fail.

Ha ha

I’m drawing a similar link between attitudes shown on here and attitudes to life in general.
Within the normal spectrum there are those who are “glass half full” and “glass half empty” and I’m suggesting the former are more attractive to others in general (whether employment, relationship, friends or other commercial partnership).
At both ends of the spectrum we have the personality disorders.

I do believe fortune favours the brave, so in general those who take a (sensible) endeavour (such as being a landlord) are much more likely to be successful than those who don’t even try and refuse to engage.

Yes of course there’s room for sensible risk assessment rather Rather than having a cavalier attitude, but in general those who work at it and try are going to do better and be more attractive.

AG47

It’s really looking like no deal come oct

AG47

The destruction will happen anyway, it will be blamed on no deal crash out of the EU, but in reality the distortion in the property market had to correct one day, this is what they were looking for to correct the manipulated price back down to a free market price

lisyloo

Looks like school’s out.

edgex

AnotherJoe wrote: »

https://www.theguardian.com/business/2019/apr/15/uk-property-market-in-line-for-summer-brexit-relief-rally-rightmove-prices
The property market is likely to stage a Brexit “relief rally” over the summer, according to Britain’s biggest property website, as it revealed signs of bounceback in prices over the past month.

So 4 months later...
Property still isn't selling, just look on Rightmove or an EAs window
Asking prices on Rightmove are generally down £5k+

MobileSaver

edgex wrote: »

So 4 months later...
Property still isn't selling, just look on Rightmove

Clearly that is simply not true... yes, transaction volumes are down but there were still almost 85,000 properties sold in June alone.

edgex

MobileSaver wrote: »

Clearly that is simply not true... yes, transaction volumes are down but there were still almost 85,000 properties sold in June alone.

Would it 'simply not be true' if 10 properties sold?

lisyloo

edgex wrote: »

So 4 months later...
Property still isn't selling, just look on Rightmove or an EAs window
Asking prices on Rightmove are generally down £5k+

How about not making stuff up on looking in one EAs window.

Prices are still up nominally.
Mortgages are nominal so for homes that’s fine.
Investments not so much.

https://www.nationwide.co.uk/-/media/MainSite/documents/about/house-price-index/2019/Jul_2019.pdf

Yes transactions are subdued and people are cautious, not a huge surprised a couple of months before brexit but hardly Armageddon.

People buying homes are fine.
Landlords relying on rental income are also fine.
Capital gains not so much, but there is still a small gain and not a massive loss.

RelievedSheff

edgex wrote: »

Would it 'simply not be true' if 10 properties sold?

In effect yes. There would have to be no properties sold for properties not to be selling!

MobileSaver

edgex wrote: »

Would it 'simply not be true' if 10 properties sold?

Obviously yes but a moot point as there were 84,490 properties sold so hardly an insignificant number (actually there were almost certainly more as not all sales are included.)