Housing Crash Coming

Davy_Jones_II

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.

No it hasn’t. Non-farm payrolls came out on Friday about in line with expectations, and the interest rate markets globally have upped rates as the figures look a bit better than they were a month ago.

I think that you are making things up here.

Hectors_House

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?

Anecdotal evidence only.

Persimmons has still not submitted their plans to GYBC for the 725 houses on the outskirts of our village ( plans were expected to be submitted two months ago).

A friend was just advised by his financial adviser to move his money out of a large building firm and into gilts.

Another friend has taken his place off the market as the only things that seem to be selling are the cheap properties. Lots of properties here going Sold then back up for sale months later.

Might all mean nothing. Time will tell.

System

Davy_Jones_II wrote: »

No it hasn’t. Non-farm payrolls came out on Friday about in line with expectations, and the interest rate markets globally have upped rates as the figures look a bit better than they were a month ago.

I think that you are making things up here.

Financial Times headline: US private sector hiring cools more than expected in September

https://www.ft.com/content/7e646ace-e50e-11e9-b112-9624ec9edc59

silvercar

Moving this thread over to the debating board as requested.

MobileSaver

Diocletian_II wrote: »

Global economic data has turned really nasty in recent weeks.

Diocletian_II wrote: »

Financial Times headline: US private sector hiring cools more than expected in September

https://www.ft.com/content/7e646ace-e50e-11e9-b112-9624ec9edc59

That was on Wednesday though, by Friday everything was looking rosy again. Looks like crisis avoided! :beer:

Financial Times headline: US unemployment rate hits 50-year low

https://www.ft.com/content/b925e90a-e69c-11e9-9743-db5a370481bc

Davy_Jones_II

Diocletian_II wrote: »

Financial Times headline: US private sector hiring cools more than expected in September

https://www.ft.com/content/7e646ace-e50e-11e9-b112-9624ec9edc59

Yes, within 5,000 of expectation, which is well within what can be described as noise, and in line with what I posted.

Do you think that post g something that exactly matches my point is supposed to be an argument?

If it had been a negative number you’d have had a point. It wasn’t, so you don’t. “Really nasty” is not a modest rise in employment numbers, no matter how you look at it.

JC9

lisyloo wrote: »

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

Never really thought about it, but a funeral director is potentially the safest job of all time.

lisyloo

Diocletian_II wrote: »

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.

Please post some links to this info making landfall.
Who is discouraging people?
I would encourage people to plan for both foreseen events (death, sickness, redundancy, divorce etc.) and unforeseen.

Not sure what point you are trying to make.
This entire site is about people improving their situation through financial planning.

lisyloo

Diocletian_II wrote: »

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.

MSE spurs people to plan, so not sure of the point you are making,

Do you any links to this coming storm so we can look at them?

lisyloo

JC9 wrote: »

Never really thought about it, but a funeral director is potentially the safest job of all time.

The best way to protect your career is to make yourself employable rather than employed.

As an example I’ve just gained a professional certification in a new technology, so you have can some personal control in most situations.