Coronavirus effect on property markets?

buglawton

I would say anyone contemplating selling their house has just shelved the idea and decided to stay put till it all blows over. How that will cause a fall in prices I am not sure.

Elephant in the room is Wednesdays 'perfect storm' budget. What a lovely task for a wet behind the ears chancellor.

Anyway if as some point in the future the government should deign to begin a serious containment policy - cornerstone being isolate at home if infected - then a 20% absentee rate from work is a strong possibility. Especially when you add parents having to stay to mind children. I'd be pushing through some emergency legislation now to ensure that those who can work are willing to do overtime and those who cannot, will get 80% of normal income. The peppercorn £90/week that statutory sick pay offers won't cut it.

TheCheerleader

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.

Comments like this are the other extreme of the apocalyptic the earth will end posts. Covid-19 is not a ‘common cold’ and people need to change their behaviour. 

The markets are afraid of uncertainty and change, and things are going to get a bit hairy in the next few months. I see more of a u shaped recovery rather than a v one, but there will be a recovery, of sorts.

silvertooth

buglawton said:

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

The only surprise is why gold and silver are still such low price 

they won’t stay this low for long as everything else continues to collapse 

silvertooth

akorn77 said:

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. 

18 months minimum for a vaccine 

during this time a global financial collapse would decimate property prices as there is a run to gold and silver

gfplux

Thrugelmir said:

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. 

Does it actually flood or did the London centric Government build something to stop it flooding?

homeless9

Vitamin C and D will save us all. Make sure you are topping up on your vitamins each day.

silvertooth

homeless9 said:

Vitamin C and D will save us all. Make sure you are topping up on your vitamins each day.

There are going to be shortages soon

nearly all pills of any kind absolutely rely on critical elements from China which will not be produced again for over five years

vits and mineral are not so important but wait until shortages of vital medicines to see how serious this crisis is

Sailtheworld

silvertooth said:

For the last 4500 years the gold to silver ratio averaged 16 parts silver valued the same as one of gold.

On a 45 foot chat every foot is a 100 years the ratio never goes above 16:1. Then the last foot on the chart 1920-2020 it temporarily shoots up to 100:1 where it is today.

this is an amazing gift to be able to buy silver so cheap compared to gold.

May as well read tea leaves.

silvertooth

Sailtheworld said:

silvertooth said:

For the last 4500 years the gold to silver ratio averaged 16 parts silver valued the same as one of gold.

On a 45 foot chat every foot is a 100 years the ratio never goes above 16:1. Then the last foot on the chart 1920-2020 it temporarily shoots up to 100:1 where it is today.

this is an amazing gift to be able to buy silver so cheap compared to gold.

May as well read tea leaves.

Are tea leaves going to tell you how bad things are going to get?

the situation is going to be very bad next month and even worse the month after

the uk will pretty much be shut down by May with hardly anybody going to work just like China and Italy 

gfplux

My local Supermarket has plenty of toilet rolls in stock. At the time of my visit (I didn’t buy any) I was the only customer in the toilet roll area.