Has anyone seen any problems in their local economies that suggests a recession is coming

triathlon

AG47 wrote: »

Yes the bright side is you will definitely see lower price on properties.

But the bad news is rents are falling as well

Both 100% untrue,

How many years or even decades have you been telling yourself that. Right now I am giving my tenants the benefit of the doubt this year and freezing rents, but they are in for a shock once summer has gone and the slight concern I had about the economy starts dwindling, then they will all be receiving rent rises

itwasntme001

westernpromise wrote: »

Rents are not falling
https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/indexofprivatehousingrentalprices/april2019
Index of Private Housing Rental Prices, UK: April 2019
1. Main points

• Private rental prices paid by tenants in the UK rose by 1.2% in the 12 months to April 2019, unchanged from March 2019.
• In England, private rental prices grew by 1.2%, Wales experienced growth of 1.1%, while in Scotland private rental prices increased by 0.7% in the 12 months to April 2019.
• London private rental prices rose by 0.5% in the 12 months to April 2019, unchanged from March 2019.

Is this data adjusted for inflation? In which case real rents are actually falling?

buglawton

westernpromise wrote: »

Rents are not falling
https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/indexofprivatehousingrentalprices/april2019
Index of Private Housing Rental Prices, UK: April 2019
1. Main points

• Private rental prices paid by tenants in the UK rose by 1.2% in the 12 months to April 2019, unchanged from March 2019.
  
• In England, private rental prices grew by 1.2%, Wales experienced growth of 1.1%, while in Scotland private rental prices increased by 0.7% in the 12 months to April 2019.
  
• London private rental prices rose by 0.5% in the 12 months to April 2019, unchanged from March 2019.

So, actually falling in real terms when adjusted for inflation.
Falling behind price rises in almost any other sector.

lisyloo

AG47 wrote: »

Yes the bright side is you will definitely see lower price on properties.

But the bad news is rents are falling as well

It’s pretty obvious to me that lower prices on properties mean nominal.

If it’s not obvious then it needs to be specified, but I think the meaning of “lower price” is clear.

Forecasts are for rents to rise
https://www.homesandproperty.co.uk/property-news/renting/renting-london-forecast-brexit-uncertainty-will-push-rents-up-faster-than-house-prices-by-2023-a126901.html

Thrugelmir

lisyloo wrote: »

Forecasts are for rents to rise

Well there is London , then the rest of the country. Twin speed in many regards.

lisyloo

Indeed, that’s what it say

Rents will rise by 11.5 per cent across the UK

[Deleted User]

itwasntme001 wrote: »

I've been looking at Leeds. Yields are around 6-7%. I expect significant capital growth as well long term with businesses moving there and HS2 as well as other investment going into the city.

Don't whatever you do rely on HS2 my bet is that it won't happen, an announcement on this will be made toward the end of this year.

melanzana

Rubbish. UK is in decline, sorry and those with even half a brain can see it.

Give it 50 years as the privileged Rees Mogg has advised the peasants for a payback after Brexit.

Some people are so deluded really, imo of course.

Sapphire

Thrugelmir wrote: »

Honda closing is a good example of the rapidly changing world. Next generation technologies are on their way. Highly automated manufacturing is the next industrial revolution.

Won't just hit manufacturing. City jobs and the like will be badly hit as well when bots take over many city workers' jobs. (I know for a fact that at least one financial company is preparing for this transition, though I can't name the company in question.)

There will always be a requirement for highly skilled individual work, e.g. plumbers, electricians, plasterers and the like, with years of experience behind them and with a good work ethic. Pity we haven't been training such. :cool: The best of those that remain are in their fifties and sixties.

And yes, I agree with you that individual debt is a huge problem, which is going to end up slapping a lot of people in their faces. What they'll do, of course, is blame everyone but themselves.

zagubov

I used to work with someone who grew up in what used to be called the Eastern Bloc; she said everybody had to train for a skilled trade as well as getting academic qualifications, even if they took a degree course. You might have a maths degree and be a trained plumber, or one example was someone with e medical degree who also was a hairdresser.

If you couldn't find a job using our degree you were expected to work using your trade skill, as there was no unemployment support. Neither were you expected to just muddle along doing a manual job amateurishly, the way people in the UK or the US might decide to turn a hobby into a living.

Weirdly (by our standards) it built up a workforce population with gumption and self-reliance that we in the west are a bit short of.