Housing Crash Coming

Thrugelmir

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.

Some banks have excess liquidity better to lend the money out than do nothing with it. There's no indication at all of an imminent rise in interest rates. If you dig around there's plenty of bad news even without Brexit. Seems as if leveraged companies are finally falling under now due to their debt burden.

lisyloo

Malthusian wrote: »

As safe as pretty much any other high street skilled profession (accountancy, law, hairdressing, etc).

I don't see that a funeral director has any special advantages. They can still hit difficulties if a cheaper funeral director opens nearby, or the local population declines, or there's a temporary lack of people dying, etc.

I don’t agree.
People can DIY their hair.
You cannot DIY burial/cremation. Yes there can be competition, seasonal variations etc.but there is a guaranteed supply in need of professional burial/cremation.

Herzlos

People don't generally get to choose when to use a funeral director, so whilst they might go for a cheaper director or a cheaper package, there's still going to be consistent work. In a downturn I suspect the mortality rate will increase (due to malnutrition, cold weather related illnesses, increased waits for treatment, etc) and that there's a low risk people will stop dying.

FtbDreaming wrote: »

Im hoping there will be a crash and it will be good for me!
NHS Nurse hoping to be a first time buyer. There will alway be work for me.

Unfortunately as a first time buyer, unless you're also a cash buyer, a crash will be terrible for you.
Selling prices will drop for a while, but mortgage rates will increase and lending criteria will tighten, so you'll either need a bigger deposit or find yourself being rejected.


The only people a crash actually benefits is the already rich who can scoop up all the 'cheap' property to rent it out to those who can't afford to buy it.

triathlon

Herzlos wrote: »

People don't generally get to choose when to use a funeral director, so whilst they might go for a cheaper director or a cheaper package, there's still going to be consistent work. In a downturn I suspect the mortality rate will increase (due to malnutrition, cold weather related illnesses, increased waits for treatment, etc) and that there's a low risk people will stop dying.





Unfortunately as a first time buyer, unless you're also a cash buyer, a crash will be terrible for you.
Selling prices will drop for a while, but mortgage rates will increase and lending criteria will tighten, so you'll either need a bigger deposit or find yourself being rejected.


The only people a crash actually benefits is the already rich who can scoop up all the 'cheap' property to rent it out to those who can't afford to buy it.

Yep

And please someone tell me when in history has a nurse ever been able to take on a mortgage on a property?, even in the cheapest areas

Herzlos

Plenty of nurses own property, I know a few. Nothing wrong with that at all, it's a good job with a decent pay.


It's the idea that a housing crash will make houses affordable that baffles me.

Zero_Sum

triathlon wrote: »

Yep

And please someone tell me when in history has a nurse ever been able to take on a mortgage on a property?, even in the cheapest areas

Nurses get about £30k so £100k mortgage is easy.
Plenty of 2 bed new builds for £115k round here. Plenty of 3 bed ex council houses in decent enough areas for about £100k or less

And what you on about in history? Im on a similar wage to a nurse & im pretty much mortgage neutral at the age of 40 with a nice 3 bed semi which cost £160k.

It really isnt that difficult.

Thrugelmir

triathlon wrote: »

Yep

And please someone tell me when in history has a nurse ever been able to take on a mortgage on a property?, even in the cheapest areas

NHS pay scale is a National one. Better scale rates than private sector jobs.

DannyGold

The crash could be larger than most expect, just as the brexit chaos is going to be far worse than most expected

lisyloo

Zero_Sum wrote: »

Nurses get about £30k so £100k mortgage is easy.
Plenty of 2 bed new builds for £115k round here. Plenty of 3 bed ex council houses in decent enough areas for about £100k or less

And what you on about in history? Im on a similar wage to a nurse & im pretty much mortgage neutral at the age of 40 with a nice 3 bed semi which cost £160k.

It really isnt that difficult.

Well depends where you live doesn’t it.
You wouldn’t find those prices in say Bristol which is probably fairly average (I haven’t said London or SE).
Cue - someone bringing up a rightmove link. There are places anywhere for low price if you don’t mind being knifed, having acid thrown in your face. Exceptions not required.

You could say “we’ll move” which is about as crass as telling the unemployed to “get a job”.

We know lots of people can’t move because of children they want to see, grandchildren, parents, disabled relatives, partners job etc. Etc. Etc.

So plenty of people can’t get a house for £100k.

lisyloo

DannyGold wrote: »

The crash could be larger than most expect, just as the brexit chaos is going to be far worse than most expected

The point is it won’t help many people though.
Those it will help will be hedge fund managers shorting sterling, not ordinary people working in a car factory.

I don’t believe we’ll (Parliament) allow chaos to happen.
Yes we know about article 50 and 31st October.

Anyway about 52% believe the chaos will not not be as bad as expected.
Why do you think it will be worse when we’ve made plenty of preparations!