Brexit - good news...

[noseall]

Mark Carney says house prices could fall by a third. Positive news for any young people trying to get on the property ladder.

 

[Ihavenojob]

Mark Carney says house prices could fall by a third. Positive news for any young people trying to get on the property ladder.

That is good news.

 

[EddieM]

Mark Carney says house prices could fall by a third. Positive news for any young people trying to get on the property ladder.

Excellent news, if it were sensibly deflated 50% would be better, but a hard fast slump... ouch!

 

[nauseous]

I can see the big private equity firms queuing, ready to pounce and make a huge killing snapping up cheap
houses when the sh** hits the fan. As usual the rich will get richer whilst the poor(er) get shafted again.
And the silly dreamers and sleep walkers still think they're doing the right thing. LMAO.

 

[Yafo]

I can see the big private equity firms queuing, ready to pounce and make a huge killing snapping up cheap
houses when the sh** hits the fan. As usual the rich will get richer whilst the poor(er) get shafted again.
And the silly dreamers and sleep walkers still think they're doing the right thing. LMAO.

Those who voted as they did because they thought they had the most to gain, will lose out the most.

Sad but true.

 

[nauseous]

Those who voted as they did because they thought they had the most to gain, will lose out the most.

Sad but true.

But we got our country back, aint we?

Actually no we haven't, we've just handed it over to the incompetent nincompoops who haven't a clue, lol.

 

[Bosswhite]

Mark Carney says house prices could fall by a third. Positive news for any young people trying to get on the property ladder.

Property investors would jump in before any young people could save up the deposit on a property .

 

[Ihavenojob]

I can see the big private equity firms queuing, ready to pounce and make a huge killing snapping up cheap
houses when the sh** hits the fan. As usual the rich will get richer whilst the poor(er) get shafted again.
And the silly dreamers and sleep walkers still think they're doing the right thing. LMAO.

Why do you think that ? People will be more able to get on the "property ladder" if prices fall, people already on the ladder will not lose their house due to prices falling, they may be in negative equity, but that's always been a case for many people. The only people who may get stuffed is the buy to let mob, or property investors who snap up all they can & just sit on it.

 

[ellal]

Those who voted as they did because they thought they had the most to gain, will lose out the most.

Good!

……………….…..

 

[JP_]

Property investors would jump in before any young people could save up the deposit on a property .

yep, was about to say the same. Negative equity, investors snap up cheap properties and the cycle starts all over again.

 

[vinty]

A house used to be something people bought to live in, you paid a mortgage for years and when it was paid off you had somewhere to live rent free when you retired.
Nowadays if some people don't have instant equity when they buy a house they feel cheated, even if a house loses value in the short term you still have a place to live and the prospect of the value of your house going up in the long term.
If prices do crash the government should step in and give priority to first time buyers who want to get on the housing ladder, maybe they should make property investors pay extra tax or something.

 

[JP_]

property investors already pay extra tax in the form of stamp duty, plus of course, tax on rental income.

 

[motorbiking]

House prices falling requires two things:
- less demand
- people who need to sell

Interest rates would need to go up to the point that people with mortgages could no longer afford them. Otherwise you are left with people sitting still as demand drops. Which is where we are now, as a result of the 2nd property tax. Large parts of the population are put off from moving (not just acquiring) and this reduces the quantity in the market.

In any case today he's less bearing about his earlier statement. There is a lot of woulda coulda mights in his forecast

 

[EFLImpudence]

House prices rising - people buy quickly otherwise it will be dearer.
House prices falling - people wait hoping it will be cheaper.


Neither bodes well for first-time buyers.

 

[JP_]

I guess I should be grateful for crashes, I got my first flat in 1999 just after the last big crash when the property prices started going up. I didn't plan it, just happened to be when I was ready to buy my first home. Paid £56k for a one bed flat in Walthamstow, which the previous owners bought for about £50k, but it plummeted to £30k and they were stuck for years. I rescued them!

Anyway, a good crash will get people on the property ladder - the investors won't be able to afford all the properties and as so many will be relying on the capital gains for their main profits, they'll also be selling!