Boris announcement on new deposit scheme?

takanodia

Yes we are heading to the new Great Depression 

noitsnotme

takanodia said:

Yes we are heading to the new Great Depression 

If you search for threads on just this forum alone, apparently we have been heading to the new Great Depression for the last 10 years or more 🤷‍♂️  How much longer do we have to wait?  It’s like the great house price crash some have been waiting for 20 years!  How are you preparing yourself for it?  Thankfully I have a roof over my head that doesn’t belong to anyone else and a mortgage remaining of equal to less than around 6 months wages.  I can’t see the new Great Depression materialising in the next 6 months so at least I’ll be slightly better than some.

Welcome back again by the way 😉

takanodia

noitsnotme said:

takanodia said:

Yes we are heading to the new Great Depression 

If you search for threads on just this forum alone, apparently we have been heading to the new Great Depression for the last 10 years or more 🤷‍♂️  How much longer do we have to wait?  It’s like the great house price crash some have been waiting for 20 years!  How are you preparing yourself for it?  Thankfully I have a roof over my head that doesn’t belong to anyone else and a mortgage remaining of equal to less than around 6 months wages.  I can’t see the new Great Depression materialising in the next 6 months so at least I’ll be slightly better than some.

Welcome back again by the way 😉

I would not have thought about a new Great Depression six months ago

it now all depends on if unemployment keeps rising next few years

takanodia

Before the last Great Depression there are four identifiable stages 

first there is a recession Which are common and happen every decade or so

then a Great Recession which are less common the last one was 2008

then a depression which is even more rare, then if unemployment keeps rising another Great Depression which there has only been one in the last few hundred years

takanodia

Salemicus said:

what are your predictions for house prices? What will be the percentage change in UK house prices between now and October 2021?

I predict London will carry on the same trajectory down for next few years.

for the next 12 months I predict similar falls as NY has seen with rents and property prices down 50% on average. This is not hard to imagine as London has seen around 30% crash already and NY way over 50% crash. Similar story with other capital cities around the world as masses leave the cities in droves

outside London will be a different story with much less percentage falls

WFH has changed everything, this is why cities are seeing such huge house price crashes

Salemicus

What are you talking about? Depressions used to be common, and modern, V-shaped recessions were rare. There was a huge one in the 1870s - which was even called the Great Depression at the time. There was another, possibly even larger one, in the immediate aftermath of the Napoleonic wars.

Please stop displaying your ignorance. 

noitsnotme

takanodia said:

noitsnotme said:

takanodia said:

Yes we are heading to the new Great Depression 

If you search for threads on just this forum alone, apparently we have been heading to the new Great Depression for the last 10 years or more 🤷‍♂️  How much longer do we have to wait?  It’s like the great house price crash some have been waiting for 20 years!  How are you preparing yourself for it?  Thankfully I have a roof over my head that doesn’t belong to anyone else and a mortgage remaining of equal to less than around 6 months wages.  I can’t see the new Great Depression materialising in the next 6 months so at least I’ll be slightly better than some.

Welcome back again by the way 😉

I would not have thought about a new Great Depression six months ago

it now all depends on if unemployment keeps rising next few years

You were talking about it 3 months ago here - https://forums.moneysavingexpert.com/discussion/comment/77412667#Comment_77412667

Others have been banging on about it for years but we’re still waiting.

takanodia

Salemicus said:

What are you talking about? Depressions used to be common, and modern, V-shaped recessions were rare. There was a huge one in the 1870s - which was even called the Great Depression at the time. There was another, possibly even larger one, in the immediate aftermath of the Napoleonic wars.

Please stop displaying your ignorance. 

You certainly seem to be an expert on Great Depressions

why do you think we are in right now and what stage do you think we will be in 12 months time if unemployment carries on rising at this rate?

Salemicus

I'm not an expert. If you don't know your !!!!!! from your elbow, that doesn't mean I am a professor of medicine for telling them apart.

Rising unemployment over the next 12 months would be bad. But it would not be a depression. Do you even know what a depression is?

Salemicus

takanodia said:

London has seen around 30% crash already

Source?