Coronavirus and Housing market?

Davesnave

Skiddaw1 said:

Must admit I'm glad we sold up and moved last year rather than this. And that we relocated to rural Cumbria.

Rural anywhere is OK in that the powers that be won't be checking-up on us, but it's a long way to the supermarket. With the threat of being locked in for my own benefit hanging over me, I'll be off to buy hair dye and make-up, I think!

MaxiRobriguez

I think there has to be a knock on effect.
People are going to lose their jobs because of the massive drop in demand as people stay at home and do nothing, and there'll be more deaths this year than normal. That will have an impact on supply and demand, it's inevitable.
You'll probably find it's the 4 bedroom houses that come down in price the most. Sorry to be a bit grim. 

SensibleSarah

I was planning on putting my house on the market in the next 3 months. Now it's doubtful that this will happen in the same timeframe - but moving (for me) is a personal choice rather than neccessity at this time. I would be stupid to be taking on a bigger mortgage and the other costs of moving when so much is up in the air and no one knows what will happen. I would assume that plenty of other people see things that way - the risk averse amongst us, at least  

danlightbulb

Crashy_Time said:

AdrianC said:

The only person who can say with any certainty is @Crashy_Time.

And he's been wrong continuously for decades so far.

Decades? Slight exaggeration. The basic prediction that a bubble doesn`t respond well to shocks is about to be tested, and I think most people who considered it properly would struggle to give a good reason why the ordinary person benefits from high house prices.

@Crashy_Time this coronavirus problem is probably the largest global issue to affect everyone possibly since the last world wars. IF the housing market proves to be resilient to it, and we see no significant downturn in demand, sales or prices; then at that point would you concede on the matter?
Don't get me wrong, I agree with alot of what you say and the principles behind it all. But despite all the logic in the world there has been no discernable change and certainly nothing long lasting, so far. If this worldwide virus pandemic doesn't change things, what the hell will?

Davesnave

Crashy_Time said:

AdrianC said:

The only person who can say with any certainty is @Crashy_Time.

And he's been wrong continuously for decades so far.

Decades? Slight exaggeration. The basic prediction that a bubble doesn`t respond well to shocks is about to be tested, and I think most people who considered it properly would struggle to give a good reason why the ordinary person benefits from high house prices.

As a professional in a sector that was always under-funded, I had the option of throwing up my hands and heading for Downing Street to superglue myself to the railings in protest. However, being pragmatic, I simply gritted my teeth and said "OK lets see what's still feasible with this sodding budget."

Similarly, as an 'ordinary person' I've never thought high house prices benefit me, but neither have I believed that a single-handed crusade against the economic status quo would be in any way worthwhile.

Crashy_Time

danlightbulb said:

Crashy_Time said:

AdrianC said:

The only person who can say with any certainty is @Crashy_Time.

And he's been wrong continuously for decades so far.

Decades? Slight exaggeration. The basic prediction that a bubble doesn`t respond well to shocks is about to be tested, and I think most people who considered it properly would struggle to give a good reason why the ordinary person benefits from high house prices.

@Crashy_Time this coronavirus problem is probably the largest global issue to affect everyone possibly since the last world wars. IF the housing market proves to be resilient to it, and we see no significant downturn in demand, sales or prices; then at that point would you concede on the matter?
Don't get me wrong, I agree with alot of what you say and the principles behind it all. But despite all the logic in the world there has been no discernable change and certainly nothing long lasting, so far. If this worldwide virus pandemic doesn't change things, what the hell will?

There was a downturn in demand, sales and prices BEFORE the virus hit, so it is hard to take your point seriously I`m afraid. This is your wish for your property price, not your real views on real reality, right?

Crashy_Time

MaxiRobriguez said:

I think there has to be a knock on effect.
People are going to lose their jobs because of the massive drop in demand as people stay at home and do nothing, and there'll be more deaths this year than normal. That will have an impact on supply and demand, it's inevitable.
You'll probably find it's the 4 bedroom houses that come down in price the most. Sorry to be a bit grim. 

Nothing grim about four beds coming down in price, but the trigger for that happening this time is pretty grim as it seems to involve massive public health issues and massive damage to the economy (meaning some can console themselves that people won`t get mortgages any more anyway so I suppose the four bed owners just stay in them until they die as the price drops below what they think it is worth?)

Davesnave

Crashy_Time said:

danlightbulb said:

Crashy_Time said:

AdrianC said:

The only person who can say with any certainty is @Crashy_Time.

And he's been wrong continuously for decades so far.

Decades? Slight exaggeration. The basic prediction that a bubble doesn`t respond well to shocks is about to be tested, and I think most people who considered it properly would struggle to give a good reason why the ordinary person benefits from high house prices.

@Crashy_Time this coronavirus problem is probably the largest global issue to affect everyone possibly since the last world wars. IF the housing market proves to be resilient to it, and we see no significant downturn in demand, sales or prices; then at that point would you concede on the matter?
Don't get me wrong, I agree with alot of what you say and the principles behind it all. But despite all the logic in the world there has been no discernable change and certainly nothing long lasting, so far. If this worldwide virus pandemic doesn't change things, what the hell will?

There was a downturn in demand, sales and prices BEFORE the virus hit, so it is hard to take your point seriously I`m afraid. This is your wish for your property price, not your real views on real reality, right?

Dan rents.

Crashy_Time

Davesnave said:

Crashy_Time said:

danlightbulb said:

Crashy_Time said:

AdrianC said:

The only person who can say with any certainty is @Crashy_Time.

And he's been wrong continuously for decades so far.

Decades? Slight exaggeration. The basic prediction that a bubble doesn`t respond well to shocks is about to be tested, and I think most people who considered it properly would struggle to give a good reason why the ordinary person benefits from high house prices.

@Crashy_Time this coronavirus problem is probably the largest global issue to affect everyone possibly since the last world wars. IF the housing market proves to be resilient to it, and we see no significant downturn in demand, sales or prices; then at that point would you concede on the matter?
Don't get me wrong, I agree with alot of what you say and the principles behind it all. But despite all the logic in the world there has been no discernable change and certainly nothing long lasting, so far. If this worldwide virus pandemic doesn't change things, what the hell will?

There was a downturn in demand, sales and prices BEFORE the virus hit, so it is hard to take your point seriously I`m afraid. This is your wish for your property price, not your real views on real reality, right?

Dan rents.

Ok, that negates my last sentence.