House market - how low will it go?

[BlueSharp]

I'm calling a 40% crash.

[MrMarkyMark]

I'm calling a 40% crash.

Could be worse, given the lack of/delays in getting people money.

There are so many people over stretched with credit, in this country, its untrue.
This covers people from all demographics.

Halifax is already only lending 60% LTV, for example.

People who have leveraged multiple properties and those who run multiple Air Bnbs should be very worried indeed.

[eek]

Could be worse, given the lack of/delays in getting people money.

There are so many people over stretched with credit, in this country, its untrue.
This covers people from all demographics.

Halifax is already only lending 60% LTV, for example.

People who have leveraged multiple properties and those who run multiple Air Bnbs should be very worried indeed.

If you have an airbnb where is the customer going to come from in the next year.

Scooter timed things perfectly selling his Edinburgh flat last year - it really wouldn't surprise me to see massive falls in price next year.

[jamesbrown]

Agree that AirBnB is going to be a bloodbath. There are a lot of people in big cities that are highly leveraged for short-term rentals who will all be defaulting after a short period.

[jamesbrown]

Doubt we’ll know until the latter part of this year though. Everything is on ice and mortgage holidays will help in the short-term.

[MrMarkyMark]

If you have an airbnb where is the customer going to come from in the next year.

Scooter timed things perfectly selling his Edinburgh flat last year - it really wouldn't surprise me to see massive falls in price next year.

Thing is they sucked up the cheap credit and built an Air BnB house of cards, money for nothing type situation.

In our demographic you have people who have large houses and borrowed against a large day rate that no longer work.
I know people who live in 500K plus houses, £700 day rate, wife doesn't work and 3 kids, who were really worried if they were out of work for a month, for example.

At the top end people are currently moving money into property as they see it as more stable than anything else.
Whether that situation continues remains to be seen.

[WTFH]

Cash is king, credit is dead for a while.

I feel sorry for anyone who has borrowed to "invest". And those with multiple rental properties - when the tenants run out of cash, they'll either have to drop the rate or watch them move out.

The house of cards will collapse.

[BlueSharp]

I had not even thought about the Air BnB market, that is absolutely going to be a blood bath. The next will be all the cars being handed back on HP agreements under voluntary termination rules.

[MrMarkyMark]

I had not even thought about the Air BnB market, that is absolutely going to be a blood bath. The next will be all the cars being handed back on HP agreements under voluntary termination rules.

Going to hit London very hard.

Problem is its so widespread it has the potential to bring down the rest of the market with it, or at least have a very serious effect.

Car HP has been a potential issue for a while, so this will come home to roost as well.

[scooterscot]

If you have an airbnb where is the customer going to come from in the next year.

Scooter timed things perfectly selling his Edinburgh flat last year - it really wouldn't surprise me to see massive falls in price next year.

Mrs and I super chuffed, which we needed after buying in at the height of the market in 2007!