Reply to: Getting rich sitting at home

[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.

[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.

[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

[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]

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]

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]

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]

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

[hairymouse]

The old man wanted his own working space.

Everyone says that is a bed but it looks like a car covered with a sheet to me.

[LondonManc]

Like 2009?

Mortgage LTVs will decline as the banks de-risk mortgage lending and unemployment will increase dramatically, far beyond the last recession (even with the furlough scheme). Values were stretched coming into this and the London market will follow other, similar, markets around the world. Leveraged BTL is stuffed; rents are already declining and prices follow rents. As for interest rates in the medium-term, it’s difficult to say. The shock is deflationary. The stimulus isn’t.

Read somewhere that a couple of big lenders are already stopping anything that's not less than 65% LTV - clearly they expect a shock of some sort. Others were expecting one because of Brexit but that could just drift by quietly as part of this and we'll have BROVID as the combined blame!

[ladymuck]

Chortle!



Time, methinks, to revisit Terrible real estate agent photographs to see any recently added comically awful photos with commentary!

Top site, thanks!

Loving this one:
Terrible real estate agent photographs - This bath was brought to you by the letter H and...

I'm actually crying, I'm laughing so much.

[northernladyuk]

What the 60s meets the Raj & Africa?

Its the B(ed)arage that gets me.

The old man wanted his own working space.

[vetran]

Another DailyFail / Zoopla / Rightmove infomercial dressed up at some kind of news item.

Its the mirror even our 'experts' read that,

[DimPrawn]

What the 60s meets the Raj & Africa?

Its the B(ed)arage that gets me.

Another DailyFail / Zoopla / Rightmove infomercial dressed up at some kind of news item.

[OwlHoot]

It's this type of des res that we should all be aspiring to.

Rightmove four-bed home advert leaves people feeling ‘baffled' after they look inside - Mirror Online

Chortle!

.. the absolute certainty that a murder has happened on the premises. ..

Time, methinks, to revisit Terrible real estate agent photographs to see any recently added comically awful photos with commentary!