Housing Crash Coming

JosephK

I'm waiting for the Zombie Apocalypse:D

System

JosephK wrote: »

I'm waiting for the Zombie Apocalypse:D

Your wait is over.

https://www.thetimes.co.uk/article/zombies-put-british-economy-under-threat-kpmg-warns-ftd8rljsl
https://www.theguardian.com/business/2019/may/06/zombie-firms-a-major-drag-on-uk-economy-analysis-shows
https://www.chroniclelive.co.uk/business/business-news/zombie-firms-pulling-down-north-16233062

lisyloo

Diocletian_II wrote: »

Global economic data has turned really nasty in recent weeks. People who think that will not affect the UK or their own financial circumstances may be in for a nasty shock.

Or possibly they are already prepared with a diversified/hedged portfolio and safe job (dentist/funeral director).

It is possible to plan you know especially when what you are talking about is a foreseeable event.
It possible to plan for the unforseeable as well but only in a non-specific way.

00ec25

love2learn wrote: »

So MoneySupermarket shows Fixed rate mortgages to be the cheapest at the moment, which is unusual, normally it's trackers, so the banks obviously expect rates to be cut either due to a recession or a No Deal Brexit or both.

If a recession comes so will job losses and default rates on mortgages will increase, probably tightening up lending criteria.

With Countries in the West reporting bad manufacturing figures and PMI's and Germany close to a recession... I'm thinking a housing Crash/Correction is coming over the next few years.

Anyone else?

shame your analysis stopped short of finding the loony bin board to post this on
... linky here:

DEBATE HOUSE PRICES & THE ECONOMY

lisyloo

Diocletian_II wrote: »

It is vital that buyers, sellers and owners are able to prepare for the storm accordingly, in a practical sense, which is what this forum is all about. Otherwise, it is more likely readers and posters could face financial ruin, which is contrary to the ethos of MSE, as a money saving forum.

I am agree and various risks e.g. brexit are widely discussed in the media.
But there isn’t a know storm, only known risks and unknown ones.
Are you claiming there’s some sort of cover up?

No deal brexit has been discussed extensively.

System

lisyloo wrote: »

I am agree and various risks e.g. brexit are widely discussed in the media.
But there isn’t a know storm, only known risks and unknown ones.
Are you claiming there’s some sort of cover up?

No deal brexit has been discussed extensively.

The storm is making landfall in data all around the world right now. It's certainly possible to plan while people still have time, although time is running out. For instance, preparing by fixing a mortgage at a low rate, or downsizing to a house with a more affordable mortgage. If people don't plan, many are likely to get swept away in the storm. Websites like MSE can help them avoid that - the ultimate 'money saving'.

jimbog

Debate house prices is what you're looking
for:
https://forums.moneysavingexpert.com/forumdisplay.php?f=149

lisyloo

Diocletian_II wrote: »

It's certainly possible to plan while people still have time, although time is running out. For instance, preparing by fixing a mortgage at a low rate, or downsizing to a house with a more affordable mortgage. If people don't plan, many are likely to get swept away in the storm. Websites like MSE can help them avoid that - the ultimate 'money saving'.

Planning is an on going process not something you do when there is a known storm coming (not that I agree there is).
Downsizing can take considerable time, even a few years depending on the property type.

What do you mean by “swept away”. That seems deliberately emotive. We have a safety net of benefits, emergency accommodation and food banks in the Uk. Sure people could lose money in a downturn but masses aren’t going to die so I think turning down the rhetoric might help if you genu8nely want to help people.

I agree MSE helps people. What’s your point.
We have a free media and help is freely available for people.
There is no issue with censorship of financial planning in this country.

As it happens I’m helping a couple who’ve had their head in the sand for several decades sort out their savings, pensions, will etc.
There is no issue with availability of information, but for various reasons some people seem unwilling to do their planning.
In the case I’m dealing with I think overwhelm is an issue.

Are you helping anybody?

System

This thread is about how buyers, sellers and owners can take practical steps to prepare for the recession that is making landfall all over the world. It is not some academic debate about house prices and the economy. It is wicked to try to discourage people from making practical preparations, and therefore increasing their chances of financial calamity.

System

lisyloo wrote: »

Planning is an on going process not something you do when there is a known storm coming (not that I agree there is).
Downsizing can take considerable time, even a few years depending on the property type.

What do you mean by “swept away”. That seems deliberately emotive. We have a safety net of benefits, emergency accommodation and food banks in the Uk. Sure people could lose money in a downturn but masses aren’t going to die so I think turning down the rhetoric might help if you genu8nely want to help people.

I agree MSE helps people. What’s your point.
We have a free media and help is freely available for people.
There is no issue with censorship in this country.

Yes, people losing jobs and defaulting on their mortgages or rent is definitely an emotive subject. MSE can help people avoid the worse by spurring them to make preparations before it is too late.