Reply to: sell sell sell!

[Fred Bloggs]

I agree. There are some parts of the UK where housing relative to income is many multiples beyond unattainable for Mr & Mrs Smith. But that fact alone is not going to change there accessibility. There are other links in the chain that must be broken first, job losses (wait until George is finished hacking back the 3rd largest employer of the world, the British public sector) that'll make a difference. Newcastle will be up for sale soon.

But then they're other parts of the country that are doing quite well, especially at the higher end. Those parts that did not run away with themselves on speculative reasoning.

I quite agree with you about affordability. Here even in the grim North West first time buyer properties are between 4 and 5 times the average first time buyer incomes. And that's if you're lucky enough to have a job at all now that all the well paid industry has been replaced by branches or Currys, Tesco Express etc.... Noticeable is the number of men doing a traditional young family woman's part time jobs in Sainsburys etc... I find it truly worrying.

[DimPrawn]

Links:

How Big A Worry is the Baltic Dry Index? - MarketBeat - WSJ

FTSE All Share - Charts and technical analysis

https://gm.bankofny.com/Research/Mor...anagerID=24722

And caution to all those that think the AUD is safe...

https://gm.bankofny.com/Research/Mor...anagerID=24768

To conclude:

Sell sell sell!

But WTF should I buy instead? :-)

Houses!

Express.co.uk - Home of the Daily and Sunday Express | UK News :: House sales soar 20% in June

HOUSE sales soared 20 per cent last month as buyers took advantage of more homes on the market to barter down asking prices.


The number of properties sold leapt from 53,000 in May to 63,500 in June, said analysts Acadametrics.

David Brown, commercial director of LSL Property Services, which sponsors the Acadametrics price index, says June’s figures are the highest this year.


Boomed!


Buy buy buy!

Get a cheap house whilst stocks last!

[Boris]

Actually, DP is probably right

Links:

How Big A Worry is the Baltic Dry Index? - MarketBeat - WSJ

FTSE All Share - Charts and technical analysis

https://gm.bankofny.com/Research/Mor...anagerID=24722

And caution to all those that think the AUD is safe...

https://gm.bankofny.com/Research/Mor...anagerID=24768

To conclude:

Sell sell sell!

But WTF should I buy instead? :-)

[scooterscot]

One thing I personally definately agree with is the housing market being the biggest bubble .

I agree. There are some parts of the UK where housing relative to income is many multiples beyond unattainable for Mr & Mrs Smith. But that fact alone is not going to change there accessibility. There are other links in the chain that must be broken first, job losses (wait until George is finished hacking back the 3rd largest employer of the world, the British public sector) that'll make a difference. Newcastle will be up for sale soon.

But then they're other parts of the country that are doing quite well, especially at the higher end. Those parts that did not run away with themselves on speculative reasoning.

[SuperZ]

Sorry, the only indicator I would trust is the oracle Paul........the octopus. If any of you believe these hocus-pocus indicators the Prawn talks about you're fools.

One thing I personally definately agree with is the housing market being the biggest bubble .TO me the recovery isn't justified and has been fuelled by continuation of cheap money. Current prices are based on low traded volumes(or have the volumes been improving I don;t know?), and first time buyer properties simply aren't selling

I wait an indication from Paul where things will be going.

I think the stockmarket may just bounce around for the rest of the year (around current levels), or could stage a rise to new highs if a close is registered above 5350. However, shoudl the market fall back to it's recent low we could be heading down further (my guess 4100 or so)

[TimberWolf]

There will be more quantitative easing. The government must is in a flap about the pound rising and the printing presses will soon be up and running again.

[AtW]

Nice to see you AtW - hope all is well

All is good in the UK

[administrator]

Read it again....

You can't get the Administrators these days.

Missed the still. Sorry. I sort of get it now. I need booze to elevate me, been a hard week.

But the Administrators can get you any time of the day or night, don't you ever forget it ...

Nice to see you AtW - hope all is well

[AtW]

You can't get the Administrators these days.

But the Administrators can get you any time of the day or night, don't you ever forget it ...

[MarillionFan]

Nope. What has the location of a mentallist currently in the news got to do with houses coming on the market?

Read it again....

You can't get the Administrators these days.

[administrator]

Do you still live in Rothbury Admin?

Nope. What has the location of a mentallist currently in the news got to do with houses coming on the market?

[MarillionFan]

I salute you Prawn. I feel another leg down coming.

Housing market seems the biggest bubble of all to me. For the UK to function correctly either house prices have to come down or wages have to rise to meet housing costs. I think the path of falls is clearly in place no, wage inflation has looked very unlikely for a while. For prices to have dropped (albeit small amounts) is suggesting more falls to come as it is not seasonal for prices to dip now. Transaction volumes still very small. More housing stock coming on to market in my area, yet few are actually selling.

All we need do now is follow the lead of South Korea and whack those interest rates up. This should cause a few who bought at peak to go under.

Harsh times ahead IMO.

Do you still live in Rothbury Admin?

[Moscow Mule]

More housing stock coming on to market in my area, yet few are actually selling.

Properly priced houses round our way are still being snapped up quickly, but being on the edge of all that BOE cash does have an effect...

[MarillionFan]

Ignore my sage advice at your peril.

The crash cometh.

Dave? Dave? Is that you?

How was China? How's your mum? How are those dancing girls?

[AtW]

Does that mean the houses they want to buy are going to start growing out of the ground?

No - it would be those second houses gotten on overextended debt that would become first houses for prudent buyers who did not engage in spekulative activities

Going to move to another rented house next month for next 12-18 months - it's been like over 10 years since I started renting