Coronavirus effect on property markets?

gfplux

With the housing market going into hibernation the sooner Britain wins the war against the Corona Virus the sooner the market can wake up.
i believe that part of the reason for the (rather late) new measures was that the low level of testing gave a false sense of how bad things were to the British public.
This from Politico.eu this morning perhaps explains why.
QUOTE

Testing, testing? One area the government is under real pressure for is its failure thus far to ramp up coronavirus testing to anywhere near the levels seen in countries containing the outbreak more successfully, such as South Korea. On Channel 4 News last night, Political Editor Gary Gibbon put it to Health Secretary Matt Hancock that for too long Britain “was not in that race” to expand COVID-19 testing, “and that is why we’re behind.” “No,” Hancock replied firmly. “That’s not true. We’ve been ramping up the testing as much as possible, as fast as possible, throughout.”

‘As fast as possible?’ Playbook has just been passed an email sent by a senior Downing Street aide on Sunday afternoon to U.K. research institutes asking to borrow more of the expensive pieces of kit required to carry out COVID-19 tests. “We urgently need to scale up testing,” states the email from No. 10, which was sent to a number of institutions around the U.K. “There is only a limited supply of these machines, so the PM is making an urgent appeal for you to lend us your machine(s) for the duration of the crisis. We will meet all expenses and assume all liabilities and requirements associated with the use of these machines for this purpose. We undertake to return or replace the equipment when the emergency is over. We would very much like to collect any machines you have tomorrow (Mon 23) or Tuesday.”

And there’s more: An attached letter from Boris Johnson says plainly that “there are no machines available to buy,” and that the “urgent appeal” is therefore “in the national interest.” He adds that “if you have any staff who are experienced in using the machines … that would also be very helpful.”

END QUOTE

Thrugelmir

gfplux said:

With the housing market going into hibernation the sooner Britain wins the war against the Corona Virus the sooner the market can wake up.
i believe that part of the reason for the (rather late) new measures was that the low level of testing gave a false sense of how bad things were to the British public.
This from Politico.eu this morning perhaps explains why.
QUOTE

Testing, testing? One area the government is under real pressure for is its failure thus far to ramp up coronavirus testing to anywhere near the levels seen in countries containing the outbreak more successfully, such as South Korea. On Channel 4 News last night, Political Editor Gary Gibbon put it to Health Secretary Matt Hancock that for too long Britain “was not in that race” to expand COVID-19 testing, “and that is why we’re behind.” “No,” Hancock replied firmly. “That’s not true. We’ve been ramping up the testing as much as possible, as fast as possible, throughout.”

‘As fast as possible?’ Playbook has just been passed an email sent by a senior Downing Street aide on Sunday afternoon to U.K. research institutes asking to borrow more of the expensive pieces of kit required to carry out COVID-19 tests. “We urgently need to scale up testing,” states the email from No. 10, which was sent to a number of institutions around the U.K. “There is only a limited supply of these machines, so the PM is making an urgent appeal for you to lend us your machine(s) for the duration of the crisis. We will meet all expenses and assume all liabilities and requirements associated with the use of these machines for this purpose. We undertake to return or replace the equipment when the emergency is over. We would very much like to collect any machines you have tomorrow (Mon 23) or Tuesday.”

And there’s more: An attached letter from Boris Johnson says plainly that “there are no machines available to buy,” and that the “urgent appeal” is therefore “in the national interest.” He adds that “if you have any staff who are experienced in using the machines … that would also be very helpful.”

END QUOTE

Hardly news. 

gfplux

Thrugelmir said:

gfplux said:

With the housing market going into hibernation the sooner Britain wins the war against the Corona Virus the sooner the market can wake up.
i believe that part of the reason for the (rather late) new measures was that the low level of testing gave a false sense of how bad things were to the British public.
This from Politico.eu this morning perhaps explains why.
QUOTE

Testing, testing? One area the government is under real pressure for is its failure thus far to ramp up coronavirus testing to anywhere near the levels seen in countries containing the outbreak more successfully, such as South Korea. On Channel 4 News last night, Political Editor Gary Gibbon put it to Health Secretary Matt Hancock that for too long Britain “was not in that race” to expand COVID-19 testing, “and that is why we’re behind.” “No,” Hancock replied firmly. “That’s not true. We’ve been ramping up the testing as much as possible, as fast as possible, throughout.”

‘As fast as possible?’ Playbook has just been passed an email sent by a senior Downing Street aide on Sunday afternoon to U.K. research institutes asking to borrow more of the expensive pieces of kit required to carry out COVID-19 tests. “We urgently need to scale up testing,” states the email from No. 10, which was sent to a number of institutions around the U.K. “There is only a limited supply of these machines, so the PM is making an urgent appeal for you to lend us your machine(s) for the duration of the crisis. We will meet all expenses and assume all liabilities and requirements associated with the use of these machines for this purpose. We undertake to return or replace the equipment when the emergency is over. We would very much like to collect any machines you have tomorrow (Mon 23) or Tuesday.”

And there’s more: An attached letter from Boris Johnson says plainly that “there are no machines available to buy,” and that the “urgent appeal” is therefore “in the national interest.” He adds that “if you have any staff who are experienced in using the machines … that would also be very helpful.”

END QUOTE

Hardly news. 

Quite correct. What is news perhaps is Holly and Phillip (who?) are now (finally) sitting 2 meters apparently in the studio!

Herzlos

I'm not sure it counts if $5.99T is going to the rich.

triathlon

Melonman27 said:

USA are going total retard Zimbabwe  $6 trillion helicopter drop

when is the UK going to do the same?

give everyone £10K each 

Because it's about the dumbest idea going, that's why. You really are determined to see the UK economy decimated aren't you? 

gfplux

The housing market is like everything else on pause.
This applies almost to every country. For example I live in Luxembourg where the market is RED HOT with price rises of 10% more or less each year.
There are people everywhere trapped in the HELL that is, of offer excepted/contracts exchanged/contracts signed etc etc. We can only hope that after BC (Before Corona) that would be AC (After Corona) the new normal will be kind and forgiving.
Has anyone got any suggestions what the AC “new normal” will look like?

Thrugelmir

gfplux said:

Has anyone got any suggestions what the AC “new normal” will look like?

Any predictions as to how long lock down will last? See that France is considering 6 weeks. On a global level we could see travel restrictions for a very long time. As once the virus takes hold in the 3rd world countries. Going to be even harder to control the spread, and subsequent reignition. 

gfplux

Thrugelmir said:

gfplux said:

Has anyone got any suggestions what the AC “new normal” will look like?

Any predictions as to how long lock down will last? See that France is considering 6 weeks. On a global level we could see travel restrictions for a very long time. As once the virus takes hold in the 3rd world countries. Going to be even harder to control the spread, and subsequent reignition. 

How long? Almost impossible but I am actually more interested in the process.
How long will severe social distancing last
who will be the first to relax other than Chine and then which country next
I would assume the young will be the advance guard as at my age to go to a restaurant or any social gathering will be well after many others.
Who will dare to travel for pleasure
Will foreign seasonal workers ever return
is this the end of 24 choices of Soya sauce at the Supermarket.
So many interesting question and what will the world look like in a few years time.
 

Thrugelmir

Sufficient quantities of vaccine and a comprehensive immunisation programme. Who knows........
As long as it takes to eradicate the virus in a given locality. Living on an island has it's advantages. 
Free movement in and out of certain countries will remain greatly restricted. 
Hospitality and leisure sectors are going to be greatly impacted for a very long time.  
Will the travel and airline industries ever recover. Travel insurance is going to increase substationally. Repatriation of nationals from far flung corners of the globe is an expensive business. Expect additional levies on the travel industry. Increasing costs to consumers. 
There'll be many here already looking for work. 
Trade of goods will continue as it has done for hundreds of years. 
A change of both culture and outlook. Going green fits in well with the narrative of reduced globalisation. 

phillw

Thrugelmir said:
Any predictions as to how long lock down will last? 

The government has ordered 3.5 million testing kits, they are starting off at 25,000 tests a day once they've proved it works and hoping to ramp up to hundreds of thousands. I believe you'll escape lock down if you had a test the shows you've recovered from covid 19.
This doesn't help those that haven't caught it yet, or don't get tested. Potentially there will be people in lock down until there is a vaccine.