Market slowdown coming? Wwyd?

nicknameless

GDB2222 said:

China has been very busy vaccinating people. 

http://en.nhc.gov.cn/2022-02/21/c_85855.htm

So it might not be disastrous if they changed policy on zero Covid.

It has but vaccine coverage not fantastic in older populations it seems.  Lots of sceptical folk and suprisingly for such an authoritarian regime they haven't been able to mandate this.

youth_leader

My son's future BIL is still locked down with his cat in his minute flat in Shanghai.  His parents are very worried about him.

[Deleted User]

Prices will never come down significantly. There might be temporary reductions as we go into recession and massive inflation, but you will need to get lucky to actually benefit from it.

Woolsery

nicknameless said:

GDB2222 said:

China has been very busy vaccinating people. 

http://en.nhc.gov.cn/2022-02/21/c_85855.htm

So it might not be disastrous if they changed policy on zero Covid.

It has but vaccine coverage not fantastic in older populations it seems.  Lots of sceptical folk and suprisingly for such an authoritarian regime they haven't been able to mandate this.

China has a long history of what we'd call alternative medicine. Older members of their society would be most aware of it too. There is evidence certain alternatives help counter the natural effects of aging on immune systems, but discussing that here or linking to the studies isn't allowed. While I've no idea if they'd be relevant to China, it's conceivable something like it is.

jonnydeppiwish!

Combenew said:

Our circumstances are we sold our house sstc for 18% over asking about 5 weeks ago. The highest offer was 10k over the others and we accepted. The buyer is ready to sign and no mortgage needed.

We've just withdrawn our offer on a house that needed too much work for us to cope with,  so we are looking again. Nothing is coming up in the area we want to live which is 100 miles away from where we live currently. Our buyer will wait for a while longer but not forever.

We're thinking of selling and going into rented but then we may risk being left behind if prices keep climbing. Should we take it off the market and remarket when more houses become available but risk losing out on houses?

Help please - I could do with some perspective.

Take the money and rent in new area - you’ll benefit then from when you do buy as you’ll be a lot more knowledgeable about the areas you want to live in

steve866

I sold and moved into rented (3 month contract, hard to find you need to use gumtree, Facebook etc).

I found somewhere straight away and moved out after 2 months. Was great having no chain and my offer was accepted because I was chain free

Woolsery

jonnydeppiwish! said:

Combenew said:

Our circumstances are we sold our house sstc for 18% over asking about 5 weeks ago. The highest offer was 10k over the others and we accepted. The buyer is ready to sign and no mortgage needed.

We've just withdrawn our offer on a house that needed too much work for us to cope with,  so we are looking again. Nothing is coming up in the area we want to live which is 100 miles away from where we live currently. Our buyer will wait for a while longer but not forever.

We're thinking of selling and going into rented but then we may risk being left behind if prices keep climbing. Should we take it off the market and remarket when more houses become available but risk losing out on houses?

Help please - I could do with some perspective.

Take the money and rent in new area - you’ll benefit then from when you do buy as you’ll be a lot more knowledgeable about the areas you want to live in

Another substantial consideration. There will be suitable and unsuitable places in every county. Here in Devon there are numerous places where I'd not wish to live, but many are exactly the locations people think of when their experience is a holiday, or scanning the the glossy magazines. Those areas might suit younger people or those who'd find my town too quiet.

Even social profiling can be misleading. For example, this is a 'deprived' area, but that doesn't mean high crime, burned our cars and kids running about with no shoes. It means there's no Tesco, no 6th Form at the school and you might want to take your own cushion to the cinema to watch a film that's 6 months old!

Sarah1Mitty2

rigolith said:

Prices will never come down significantly. There might be temporary reductions as we go into recession and massive inflation, but you will need to get lucky to actually benefit from it.

How do you mean, "get lucky", won`t everyone know what is happening?

GDB2222

Sarah1Mitty2 said:

rigolith said:

Prices will never come down significantly. There might be temporary reductions as we go into recession and massive inflation, but you will need to get lucky to actually benefit from it.

How do you mean, "get lucky", won`t everyone know what is happening?

What he means is that it might not be worth trying to game the market. If you sell and put your equity on deposit, you might benefit if property prices drop a great deal, as you can then buy a better house after prices drop.

However, you'd be paying estate agency fees, stamp duty, two lots of removals, rent, etc. So, you'd need quite a large price drop just to pay for your expenses. 

Plus, you'd need nerves of steel to buy in at the bottom of the market, just when things look grimmest.

And, of course, there's the risk that prices don't drop at all, and you are out of the house market whilst prices just keep going up. 

In short this is the sort of risk that hedge fund managers take all the time, but they do it with other people's money. Betting your own home on this is not recommended.

Sarah1Mitty2

Right, makes sense.