Nationwide Building Society House Price Index June 2021

[Whorty]

Move to another city, try a different lifestyle for 1y, then look to buy once the market corrects. It can't keep up like this for infinity. (or at least I hope)

Or get a holiday home abroad and stay there for the next year.

What we are left in life is with experiences. It's difficult when you are so familiar with the area and know everyone around but you can always make new friends with the right attitude. I don't think you will struggle with that.

Also considering your previous experiences it might do you well to change scenery for a while. We tend to associate memories with places.

I live in a village where I don't know many people. I'm moving to a town about 15 miles away where I know no one. I searched a large wide radius and it's the same all around here. I also considered moving to the Midlands where I do know people but it's just as bad there.

I don't want a holiday home abroad.

I absolutely live for experiences, that's why I'm taking money out of this house and buying something cheaper ... so i can p*ss my money up the wall before I die

[d000hg]

Moving abroad for a year isn't much of an option these days, unless one has dual passports.

A blue one and a covid one?

[Martin@AS Financial]

It's a very interesting time at the moment. I am certainly arranging a lot more mortgages for clients that are leaving London so that they can have a home with a dedicated office, garden and a garage.

However and this is the big however, I think a lot of how the next 18 months pans out will depend on whether people are allowed to continue working from home and only expected back in the office say 2 days a week.

One thing that is rarely discussed is that when people work from home, it could create all sorts of compliance nightmares. Lets say you have a couple that live together and both work for separate major investment banks. All that would have to happen would be a stroll past an open laptop and an accidental glance at the screen would reveal all sorts of confidential trading information.

If companies start demanding that their staff are back in the office 5 days a week, there are going to be some astronomical commuting costs.

[OwlHoot]

Anyone know of any other markets that have got completely out of whack?

Not sure if it answers your question, but I paid £40 for a heavy, solid 18 carat gold bracelet in a charity shop last week, and looking at Ebay I see new ones cost between £2000 and £5000!

[OwlHoot]

One thing that is rarely discussed is that when people work from home, it could create all sorts of compliance nightmares. Lets say you have a couple that live together and both work for separate major investment banks. All that would have to happen would be a stroll past an open laptop and an accidental glance at the screen would reveal all sorts of confidential trading information. ..

Company-supplied laptop with webcam constantly switched on and footage remotely recorded and AI monitoring and highlighting any unusual image changes?

Sounds completely surreal, but might go some way towards providing accountability for remote working with sensitive data

[mattster]

Anyone know of any other markets that have got completely out of whack?

Every seems to have gone mental. I was in the market this year for a new (used) car and a small boat/engine (RIB). The former are up about £2-3k for what I want (family estate), that latter is basically impossible to source new in the UK right now, particularly small (5-10) hp engines, at least in the brands I want. The usual mix of excuses; Covid interrupted production, Brexit, huge demand (boats especially - staycationers spending their saved holiday budget), Suez canal, shipping problems etc. There does seem to be a perfect storm of high demand, lots of money sloshing about and limited availability of many things which is pushing prices through the roof. I don't know how they are going to fudge this one in the inflation figures.

[ladymuck]

Weird times but then it's been kind of weird for a long time. Back in 2008, I'm sure they said that ZIRP was only a temporary measure.

The market for puppies, kittens and horses has gone bonkers too. Puppies that would have been under £500 pre-covid are now fetching over £2500. Horses than can be ridden are like gold dust. Old nags, that would have cost a few hundred quid a year ago, are now going for over £5000.

Anyone know of any other markets that have got completely out of whack?

The premium car market is another.

Friends bought a Porsche recently because they'd not had any holidays and it's now worth more than they paid for it less than a fortnight later.

[Paralytic]

Friends bought a Porsche recently because they'd not had any holidays

First world problems

[ladymuck]

First world problems

Absolutely!

[Fraidycat]

The premium car market is another.

Friends bought a Porsche recently because they'd not had any holidays and it's now worth more than they paid for it less than a fortnight later.

My cars are holding value better at this point than i thought they would when i bought them a few years ago.

Which is no real benefit for me because if i want to trade them in for newer ones those will cost even more than they would of been.
Bit like moving up in the housing ladder. Your house has gone up but the one you want has gone up even more.