What steps will gov take if 35%+ HPC?

triathlon

AG47 wrote: »

If Mark Carney is correct in his 35% house price crash predictions over the next few years then what steps will the government take to cope with all the repossessed properties?

HTB 1 was quite effective helping the bubble, then help to bubble 2 was less effective but still helped to keep the bubble inflated.

Maybe help to bubble 3 will be 50% gov backed loan interest free for ten years even available for poor credit low income families?

Mark Carney has never made a house price prediction ever, and definitely not one for a 35% crash. What he has done though is prepare the banks so they could handle a crash of 35% should that very outside chance happen at worse.

Anyway now that Brexit is all but cancelled and the small chance of a 7% max fall there is little or no chance of your silly little prediction happening

AG47

HTB 1 was successful at helping the bubble

Help to bubble 2 increased the percentage and the duration of the interest free loan

HTB3 will be even more percentage and duration and lower than 5% deposit needed

AG47

chucknorris wrote: »

If house prices fell 35%, do you really expect that interest rates would return to near 'normal' levels?

It’s the interest rates going up that are partly going to be to blame for the crash in property and the brexit fallout will be to blame for interest rates going up.

We are in for some hard times next few years

AG47

triathlon wrote: »

Mark Carney has never made a house price prediction ever, and definitely not one for a 35% crash. What he has done though is prepare the banks so they could handle a crash of 35% should that very outside chance happen at worse.

Anyway now that Brexit is all but cancelled and the small chance of a 7% max fall there is little or no chance of your silly little prediction happening

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

chucknorris

AG47 wrote: »

It’s the interest rates going up that are partly going to be to blame for the crash in property and the brexit fallout will be to blame for interest rates going up.

We are in for some hard times next few years

Interest rates will not return to 'normal' levels until it is economically prudent to do so. Sorry to hear you are in for hard times, I don't think that I am.

AG47

chucknorris wrote: »

Interest rates will not return to 'normal' levels until it is economically prudent to do so. Sorry to hear you are in for hard times, I don't think that I am.

We were supposed to be in economic prudent times for the last decade, that was the boom, now comes the bust.

Brexit debacle fallout over the next few years will mean the GBP will fall a long way, interest rates will have to go up, property crashing is a small price to pay to prop up the pound sterling.

AnotherJoe

AG47 wrote: »

We were supposed to be in economic prudent times for the last decade, that was the boom, now comes the bust.

Brexit debacle fallout over the next few years will mean the GBP will fall a long way, interest rates will have to go up, property crashing is a small price to pay to prop up the pound sterling.

LOL. The 1980's called and want their economics back. The idea of propping the pound up via interest rises was busted years ago when Mr Soros became a billionaire almost literally overnight. Not.Gonna.Happen.
More likely in a Hard Brexit situation is letting the Pound stay low to encourage exports and discourage imports.

chucknorris

AG47 wrote: »

We were supposed to be in economic prudent times for the last decade, that was the boom, now comes the bust.

Brexit debacle fallout over the next few years will mean the GBP will fall a long way, interest rates will have to go up, property crashing is a small price to pay to prop up the pound sterling.

You seem to be an expert at incorrectly predicting financial outcomes, I am very confident that you will maintain your excellent record.

AG47

AnotherJoe wrote: »

LOL. The 1980's called and want their economics back. The idea of propping the pound up via interest rises was busted years ago when Mr Soros became a billionaire almost literally overnight. Not.Gonna.Happen.
More likely in a Hard Brexit situation is letting the Pound stay low to encourage exports and discourage imports.

I’m not saying things are fair, far from it. Neither am I saying things will go smoothly after the fallout from the brexit debacle once again far from it.

So we re in agreement.

It’s going to be messy next few years for the UK.

AnotherJoe

AG47 wrote: »

I’m not saying things are fair, far from it. Neither am I saying things will go smoothly after the fallout from the brexit debacle once again far from it.

So we re in agreement.

It’s going to be messy next few years for the UK.

We aren't "in agreement" at all.
You made a risible suggestion that government will raise interest rates to keep the Pound high.
it's clear they won't do that because (a) they don't want a high Pound and (b) it's been proved that is unworkable as a strategy.
Therefore there won't be high interest rates to cause a fall in house prices.
Other factors may, I make no prediction on those. But not higher rates.