Poll: UK house prices, where next?

[stonehenge]

There's certainly been a massive gap open up between London and everywhere else.

https://www.ons.gov.uk/economy/infla...english-region

[woohoo]

Just as a bit of fun.

We've now seen sudden sell offs from US, Asian, and European stocks markets. Investors are reeling in overinflated assets. Is it now only a matter of time before the UK house prices collapse to 3-fold of the average income? This would represent a 60-70% correction.

Not so concerned about a price correction myself, but rather the speed at which it could occur. Should this happen to UK house prices... then we'll have cats and dogs playing together, leave voters signing up for EU passports, with Jeremy Corbyn as PM quicker than Jacob Rees-Mogg can say floccinaucinihilipilification whilst eating is morning soufflé.

Can we create a forum just for you, call it depression or something similar. Seriously, get down to the doctors and get some drugs.

[scooterscot]

Forget where I read it, might have been the FT... it seems there's a number of folks who have interest only mortgages that are set to mature in the next 3-5 years without any means to pay off the debt. If there's a price collapse before then, then it'll certainly get interesting.

[jamesbrown]

Plus, IIRC, I think a couple of taps are being turned off in the UK imminently - the Term Funding Scheme and the Funding for Lending Scheme. If you recall, savings rates and mortgage rates shot in opposite directions when the latter was first introduced in (IIRC) late 2012.

[jamesbrown]

The US 10yr is the thing to watch...

Too early to predict anything, but I think everyone would agree that valuations of most assets (and crypto^10), are laughably detached from any fundamentals (e.g. wage growth), absent cheap money.

[scooterscot]

Just as a bit of fun.

We've now seen sudden sell offs from US, Asian, and European stocks markets. Investors are reeling in overinflated assets. Is it now only a matter of time before the UK house prices collapse to 3-fold of the average income? This would represent a 60-70% correction.

Not so concerned about a price correction myself, but rather the speed at which it could occur. Should this happen to UK house prices... then we'll have cats and dogs playing together, leave voters signing up for EU passports, with Jeremy Corbyn as PM quicker than Jacob Rees-Mogg can say floccinaucinihilipilification whilst eating is morning soufflé.