Coronavirus effect on property markets?

SpiderLegs

I do feel sorry for these HPCers.

After the disappointment of the non-existent brexit fuelled recession followed by Boris and his ahem ‘perma prop bull’ mates smashing the hell out of the Marxists, they now have to cling on to the hope that a mass extinction event is the only thing that will help them move out of their parents box room.

Keep the faith chaps, keep the faith.

MobileSaver

The-Joker wrote: »

In living memories nothing like this has ever happened

lisyloo wrote: »

In what sense has it never happened? i.e. what's different from aids, sars, swine flu, bird flu, ebola, zikka.
My memory is that there were similar levels of concern about those.

To be fair, judging from many of The-Joker's posts he is only about 11 years of age so his statement may well be true...

stehouk

I don't think it will be a virus that kills off the housing market, i think it will be the changes to the help to buy next year, well i hope so anyway.

Getting_greyer

stehouk wrote: »

I don't think it will be a virus that kills off the housing market, i think it will be the changes to the help to buy next year, well i hope so anyway.

I'm not so sure about this. Evictions and HPC that happen during recession can be blamed on such. Mass evictions due to domestic policy probably doesn't sit wasy with a new government only wanting good news post brexit.

Could a virus drop house prices? Maybe, but for it to happen would be because output and consumption drop, unemployment and low wages. So bot good news either.

Crashy_Time

gfplux wrote: »

When did facts get in the way of panic?

Panic is the key word though isn`t it, people shuffle about round the shops with flu, they go to work, and spread it about, they drink lemsip and feel sorry for themselves for a few days, they don`t shut down entire cities and stay off the streets? Any major economic hit to China from this will very quickly start showing up as stress in debt/credit markets IMO, and that has all sorts of knock on effects as we saw in 2008.

Crashy_Time

PasturesNew wrote: »

There's probably more people knifed in London this year than have so far died of the virus..... and that's not affecting London prices.

Probably affecting transactions in certain areas though, and prices are falling anyway because they are too expensive for basic housing.

Filo25

Crashy_Time wrote: »

Panic is the key word though isn`t it, people shuffle about round the shops with flu, they go to work, and spread it about, they drink lemsip and feel sorry for themselves for a few days, they don`t shut down entire cities and stay off the streets? Any major economic hit to China from this will very quickly start showing up as stress in debt/credit markets IMO, and that has all sorts of knock on effects as we saw in 2008.

Sorry its a pedantic pet peeve of mine this, you aren't likely to be doing many of those things if you have flu, you can do all of them with a bad cold though which is what people seem to confuse with the flu half the time

I had flu once and was barely able to get out of bed for a week never mind actually go outside!

Crashy_Time

Filo25 wrote: »

Sorry its a pedantic pet peeve of mine this, you aren't likely to be doing many of those things if you have flu, you can do all of them with a bad cold though which is what people seem to confuse with the flu half the time

I had flu once and was barely able to get out of bed for a week never mind actually go outside!

Ok, fair point, maybe I should have said heavy cold verging on flu? But there were unlikely to be state officials outside dressed in bio suits taking temperatures and moving the infected to another location when you were trying to recover? The psychological effects in this outbreak are far bigger than during common colds/flu is the basic point I`m making, people are staying off the streets which they don`t do when normal colds flu`s are going on, and this will have economic impacts.

malkie76

Colds are caused by rhinovirus (for the most part), and cause mild to moderate symptoms and are not life threatening.

Influenza is an entirely different virus with dramatically different symptoms (particularly the life threatening respiratory ones), yet people frequently confuse the two, or use them inappropriately. A heavy cold is not the flu.

Thousands of people die of flu each year and there isn’t a major lockdown. Media love a good outbreak story, but there’s no current prevention, whereas flu has the seasonal vaccine (which does have limitations.)

China reacts heavily because of the criticism it received for the SARS outbreak, but it’s maybe not the terrifying issue the media tells you. Bit like how the froth at the mouth about weather.

Oh, and I literally started this thread as a parody 6months ago. https://forums.moneysavingexpert.com/discussion/5997414/what-effect-will-bubonic-plague-have-on-london-house-prices

Unlike the HCP squad, I can predict the future.

veryintrigued

Well today's announcement has certainly impacted the FTSE and currency rates.

For anyone bored take a look at the graph of GBP Vs Euro from the announcement at 9ish.