Brexit Doom

[The_Equalizer]

Obviously the underlying weakness and uncertainty is not at all a good thing, but one must see the silver linings.

Loopy housing costs are not a good thing. Did RoI have a bit of trouble with this too? How many rue the day they got taken in by it all?

[DimPrawn]

I blame Atw.

He sits and pays rent for 10 years whilt house prices rise exponentially, and then, at a time when the EU is about to collapse into a fatal banking crises, and the UK votes for political and economic freedom, he goes and buys a very expensive bedsit in Britain's dullest city.



Oh well, cheap houses, we will just have to get used to it.

[MrMarkyMark]

I blame Atw.

He sits and pays rent for 10 years whilt house prices rise exponentially, and then, at a time when the EU is about to collapse into a fatal banking crises, and the UK votes for political and economic freedom, he goes and buys a very expensive bedsit in Britain's dullest city.

[jamesbrown]

It's great. All those people whose mortgages are bigger than the value of their house face repossession (since they've now borrowed more than 80% or whatever the deal was), so there will be more houses available and house prices will drop further.

Let's not pretend that negative equity is any worse than spiraling housing costs. Both are mere symptoms of the absurd boom/bust cycle of UK housing, which remains artificially inflated/leveraged on both the supply and demand sides. Among many other things, we need to remove imputed rent from GDP, remove PPR relief on capital gains, overhaul planning, and do everything possible to ensure that house prices are allowed to erode through inflation (as opposed to boom/bust) over the long-term.

[AtW]

Bring on lower house prices - I'll get 10 more to average my price

HTH

[CretinWatcher]

I think everyone agrees house prices are too high. The problem is that any sharp shocks that prick the bubble eventually lead to more poor people in food bank queues since everything is inter-related.
Make no mistake, the people who voted Brexit will on the whole bear the brunt of it. Which is fair enough.

[eek]

I think everyone agrees house prices are too high. The problem is that any sharp shocks that prick the bubble eventually lead to more poor people in food bank queues since everything is inter-related.
Make no mistake, the people who voted Brexit will on the whole bear the brunt of it. Which is fair enough.

Given the demographics of those who voted for Brexit I can't see how dying (which a lot of them will do naturally at some point in the near future) is bearing the brunt of it....

[Old Greg]

Loopy housing costs are not a good thing. Did RoI have a bit of trouble with this too? How many rue the day they got taken in by it all?

High housing prices are bad. Lower housing prices are good. Housing prices are being driven down by economic weaknesses and uncertainty, which are bad.

It's the same with the decrease in the value of GBP. It will have some upsides, but it is a reflection of weakness and uncertainty.

[GB9]

Given the demographics of those who voted for Brexit I can't see how dying (which a lot of them will do naturally at some point in the near future) is bearing the brunt of it....

Loads of wealthy people in the South East and South West? I think they will.

Or are you still thinking it was only manual workers in Sunderland who voted to leave?

[GB9]

Are you saying that banks 'call in' mortgages on homeowners in negative equity? Never heard of that one before and surely self-defeating for the banks?

Never seen any of the mortgage banks I have worked with do anything with residential customers providing they keep paying.

I have seen them go after btl borrowers though.