House market bounce?

[6128k]

Exactly. Banks create the money (fractional reserve banking), so it's effectively worthless. You take something worthless and exchange it for a massive family home set in 5 acres. Who is the idiot, you or the bank?

If you can prise it off them

[Andy2]

Exactly. Banks create the money (fractional reserve banking), so it's effectively worthless. You take something worthless and exchange it for a massive family home set in 5 acres. Who is the idiot, you or the bank?

you . Because you will pay monthly payment for the next 20 years from your hard earned money to the bank who created it out of thin air .

[AtW]

you . Because you will pay monthly payment for the next 20 years from your hard earned money to the bank who created it out of thin air .

But you get to live in “your’ house straight away and no landlord to give you pathetically short notice, you can actually invest into improving the place you spend so much time in (even before WFH). and it will go up in price in a long term.

And now banks might pay people to get a mortgage.

Which is nice.

[WTFH]

Keep on bouncing baby!

I remember having a mortgage. That was a while ago.

[DimPrawn]

you . Because you will pay monthly payment for the next 20 years from your hard earned money to the bank who created it out of thin air .

Or, not have a big nice house and have cash, and pay the bank to look after it?

Or, pay rent, and never own the asset?

The only logical thing to do is borrow money at near zero interest rate and buy physical assets

[PCTNN]

The house market where I am (Edinburgh) slowed down for like 2 weeks at the beginning of the pandemic, then it came back stronger than ever. Prices never went down at all.

I noticed 2 main differences from say 6 months ago:

1) more and more properties now get sold just on the basis of a virtual viewing. Buyers make offers without doing viewings in person, which sounds crazy to me.

2) properties in villages outside the city centre (up to 1h away by car) have become just as appealing as properties in the city centre. Prices are going up a lot and properties in the outskirts with a nice garden are going REALLY REALLY fast.

It can't go on like that. This bubble MUST pop soon.

[AtW]

The good times will never end

[DimPrawn]

Flats in busy city centres, houses with no or tiny gardens in large towns....big downward price pressure.

Houses with very large gardens away from crowded town centres, houses near national parks or the coast, farms, will go up massively in value.

[DimPrawn]

The good times will never end

You meant to post this in the AMD thread?

[WTFH]

I noticed 2 main differences from say 6 months ago:

1) more and more properties now get sold just on the basis of a virtual viewing. Buyers make offers without doing viewings in person, which sounds crazy to me.

Not totally true, but EAs are only showing buyers round who they have checked and are in a position to move. So something will appear online for a day and is gone. The online piece is more about the EA getting their name on websites, they already have buyers lined up. If one falls through, they've got it on the net to pick up new ones.