Reply to: Stop laughing

[Mordac]

Apparently 20% of Estate Agents risk going bust. linky

Only 20%? Oh well, it's a start...

[PurpleGorilla]

Part of the reason why we sold our BTL last year, 1-bed and redicioelessly overpriced. Could have bought the materials and land for a 4-bed house easily enough elsewhere in the country.

Put another way, an economic model whereby the average house price requires 6-9 times the average income will simply mean living a life as directed by turpitude landlords and employers not wanting to pay a living wage. When people realise they don't have to live that life the bubble will burst. Pray x-factor does not get cancelled.

Brexit

[scooterscot]

Every government for the last 30 years (at least) has been terrified of being the ones in power when the bubble really bursts. It's the hot potato they keep microwaving and passing on to the next government even hotter than when they got it.

Part of the reason why we sold our BTL last year, 1-bed and redicioelessly overpriced. Could have bought the materials and land for a 4-bed house easily enough elsewhere in the country.

Put another way, an economic model whereby the average house price requires 6-9 times the average income will simply mean living a life as directed by turpitude landlords and employers not wanting to pay a living wage. When people realise they don't have to live that life the bubble will burst. Pray x-factor does not get cancelled.

[Uncle Albert]

Some people say the world's reserve currency is the dollar. I say it is the London property market. The pound is going to keep dropping.

I don't believe the immigration gates will close. However its only partially relevant. Alot of property is bought to be left empty.

And it is the only economic driver left. The government cannot let it drop.

Every government for the last 30 years (at least) has been terrified of being the ones in power when the bubble really bursts. It's the hot potato they keep microwaving and passing on to the next government even hotter than when they got it.

[SueEllen]

Or could it be more to do with the fact that more and more you can buy and do all the stuff you would have historically done with an estate agent online and for cheaper.

or not?

Yep.

[original PM]

Saw this on the beeb last week Estate agents' profits plunge as housing market slows - BBC News. Countrywide profits down by 98% and Foxtons down 64% - made I laugh

Is this the start of the fabled property crash?

Or could it be more to do with the fact that more and more you can buy and do all the stuff you would have historically done with an estate agent online and for cheaper.

or not?

[BrilloPad]

Not sure about 2002, I was expecting it in 2007, prices had soared and we had the credit crunch, I was certain we were in for a cull then but QE propped the whole lot up and we carried on as if nothing had happened! London market is in decline and the ripples from that should push out across the rest of the country. Will demand stay high when we close the immigration gates in 2019?

Some people say the world's reserve currency is the dollar. I say it is the London property market. The pound is going to keep dropping.

I don't believe the immigration gates will close. However its only partially relevant. Alot of property is bought to be left empty.

And it is the only economic driver left. The government cannot let it drop.

[administrator]

The one we have been waiting for since 2002?

There are still more buyers than sellers.

However AtW called the top of the market when he bought his luxury penthouse above a Solihull kebab house.

And the last driver of the economy will then be gone.....

Not sure about 2002, I was expecting it in 2007, prices had soared and we had the credit crunch, I was certain we were in for a cull then but QE propped the whole lot up and we carried on as if nothing had happened! London market is in decline and the ripples from that should push out across the rest of the country. Will demand stay high when we close the immigration gates in 2019?

[BrilloPad]

Saw this on the beeb last week Estate agents' profits plunge as housing market slows - BBC News. Countrywide profits down by 98% and Foxtons down 64% - made I laugh

Is this the start of the fabled property crash?

The one we have been waiting for since 2002?

There are still more buyers than sellers.

However AtW called the top of the market when he bought his luxury penthouse above a Solihull kebab house.

And the last driver of the economy will then be gone.....

[administrator]

Saw this on the beeb last week Estate agents' profits plunge as housing market slows - BBC News. Countrywide profits down by 98% and Foxtons down 64% - made I laugh

Is this the start of the fabled property crash?

[tiggat]

Excellent. Let's hope other rippoff merchants, lawyers, dentists, and IT contractors follow them.

[WTFH]

That will hit BMW sales in the UK

[BrilloPad]

Good. Will make more space for mobile phone shops on the high street.

[BR14]

but they'll have to take their brats out of public schools and give up their F&M hampers!
how can you be so heartless?

[SueEllen]

Excellent. Let's hope other rippoff merchants, lawyers and dentists, follow them.

Actually lawyers have been having problems for years since legal aid cuts first started.

I guess I've been lucky with my dentist. She tells me to come once a year and has been for the last 10 or so years. In the beginning the practice sent 6 months ones which I ignored on her instructions.