Coronavirus effect on property markets?

triathlon

For goodness sake, nobody wants to buy silver, go somewhere else and ramp it, and especially right now with whats going on in the world. Most of us here bought homes as an investment over the last 20 odd years, I cannot help think that you wished you had done the same now.

TheCheerleader

I completely agree with the first half of your comment. Where I differ though is I bought a home as a home. 

It was sheer luck that I bought my first home in 1995, I bought as big as I could afford at the time, and the gains I made we are still feeling the benefit of now, as we have gone up the ladder several steps since. 

However, I would welcome a large drop in the price of my home, if it made it possible for home ownership to be within the reach of people on average incomes.

Thrugelmir

gfplux said:

silvertooth said:

One good thing about the pandemic is how many people now want to move away from the cities.

lots of big companies are asking people to work from home and this trend will likely continue after the crisis is over.

property prices in cities will fall a long way even further now

good for lower London prices 

every cloud and all

So move from London and buy a house on a flood plain. Good idea.

London is a flood plain. 

silvertooth

TheCheerleader said:

I completely agree with the first half of your comment. Where I differ though is I bought a home as a home. 

It was sheer luck that I bought my first home in 1995, I bought as big as I could afford at the time, and the gains I made we are still feeling the benefit of now, as we have gone up the ladder several steps since. 

However, I would welcome a large drop in the price of my home, if it made it possible for home ownership to be within the reach of people on average incomes.

Well it’s looking very likely that the long overdue property price crash will finally happen

if the stock markets crash is anything to go by, this is going to be the big one

RelievedSheff

I really don't think that those hoping for a big drop in house prices are going to get what they want.

It really won't take long for people to realise that the effects of Coronavirus is just a load of media hype.

Regardless of whether there is a glorified common cold doing the rounds or not, people still need a place to live and call home, people still need jobs and people still need food, water, warmth and shelter.

Once the hype has calmed down it will be business as usual, the stock markets will recover and life will continue as normal.

lisyloo

Indeed. One could argue that if people aren’t travelling or going out and spending more time at home that they’ll be keener for it to be a nicer place to stay and be more willing to spend a higher proportion of their money on it rather than a cruise (Petrie dish). I expect the medium term result to be higher prices. Those with a dry cellar or storage or shelter will be at a premium.

silvertooth

RelievedSheff said:

I really don't think that those hoping for a big drop in house prices are going to get what they want.

It really won't take long for people to realise that the effects of Coronavirus is just a load of media hype.

Regardless of whether there is a glorified common cold doing the rounds or not, people still need a place to live and call home, people still need jobs and people still need food, water, warmth and shelter.

Once the hype has calmed down it will be business as usual, the stock markets will recover and life will continue as normal.

The hype is not going to calm down 

China is not coming back anytime soon

every business in the world is suffering due to the crisis and this pandemic is only getting worse.

the numbers double every 6 days.

to start with its only small numbers but then things exponential by summer

this video got things right.

https://youtu.be/mdN5D132EJs

silvertooth

lisyloo said:

Indeed. One could argue that if people aren’t travelling or going out and spending more time at home that they’ll be keener for it to be a nicer place to stay and be more willing to spend a higher proportion of their money on it rather than a cruise (Petrie dish). I expect the medium term result to be higher prices. Those with a dry cellar or storage or shelter will be at a premium.

Very optimistic lisyloo. But your forgetting that the banks are all in deep doodoo 

as people stop paying rents and mortgages the banks are going to collapse and so will the property market

this will be the least of the government’s worries as this pandemic becomes the worst crisis in living memories 

buglawton

silvertooth said:

annabanana82 said:

silvertooth said:

Can you make some predictions about gold and silver prices over the next year and more? Why would anybody sell monetary precious metals in this environment? You don’t get rid of water in the desert, you need more of it.

Gordon Brown sold gold at rock bottom prices...
The government also hold huge amounts of silver, if they ever decide to sell the price of silver will plummet 

Absolutely not true, ALL THE SILVER IS NOW GONE!!!!

In the 1950s all governments and central banks had both gold and silver strategic stockpiles. But silver has been in a supply deficit for 70 years and now all the stockpiles have been depleted 

gold has been in a supply surplus and the space that used to be filled with silver is now overflowing with gold

China and Russia cornering world gold sticks, to oust the US dollar as a world currency if you believe the gist of this:
https://www.bullionvault.com/gold-news/gold-standard-012120201

akorn77

Naturally, investors flee to safe havens during economic turmoil. London property being one of them; my guess is no major downfall in prices. Maybe a light dampening at most 2020, followed by a large bounce back once a vaccine is fully formulated.