Getting rich sitting at home

[BlasterBates]

When? Pre-CV? Yeah, sure.

Best case scenario, 80% of normal salary, no greater than 2.5k PCM, sounds like a lot of stretching on the horizon. Especially for those earning more than 30k pa, which is a lot of people in the SE. I say best case scenario, because furloughed workers will eventually translate into redundant workers in a lot of cases, plus there are redundancies ongoing. If you seriously think that UK housing assets are going to make it through this unscathed, I have a garden bridge for sale at full pre-CV price.

Average salaries down 20% "best scenario", unlikely

[jamesbrown]

Average salaries down 20% "best scenario", unlikely

Around 20% of the workforce is furloughed. Massive redundancies are already happening. House prices are determined at the margins.

The idea that the housing market will weather this unscathed seems a little "unhinged" to me. Unless you're heavily invested in BTL, of course, then it's probably just "putting a positive spin on it"

[BlasterBates]

Around 20% of the workforce is furloughed. Massive redundancies are already happening. House prices are determined at the margins.

The idea that the housing market will weather this unscathed seems a little "unhinged" to me. Unless you're heavily invested in BTL, of course, then it's probably just "putting a positive spin on it"

Unscathed no, crash also not, predictions currently 3-10% down. I gave up my BTL years ago.

[jamesbrown]

Unscathed no, crash also not, predictions currently 3-10% down. I gave up my BTL years ago.

Predictions

"I predict that all asset classes are going to sink except the one that keeps me in work, which will go to the moon".

Estate agents are funny.

[BlasterBates]

Predictions

"I predict that all asset classes are going to sink except the one that keeps me in work, which will go to the moon".

Estate agents are funny.

Well they were pretty much spot on in 2009

[jamesbrown]

Well they were pretty much spot on in 2009

Except during that inconvenient period when prices sunk by 30% or more (outside of London and the SE, there are places that never really recovered) and estate agents were talking about “curtailed demand” and a “challenging market” and perhaps “flat prices”. Estate agents are like scootie. They have their story and they’re sticking to it. Currently, they are predicting a 3% fall

[sasguru]

Sadly Pater who has retired to the Algarve has two properties extant in the UK which I'm supposed to sell.
I doubt my inheritance will be worth much for a while.

[merseygrit]

These measures are going to be worthless for the foreseeable future. They're either pre-CV (80% in this case) or post-CV on close to zero transactions.

You don't have an economic crash without a housing crash, esp. in the UK.

Yes, people will hold out unless forced to sell: probate, job loss, repossession etc.