Villa05 wrote: » We were not able do it last time as we were literally bankrupt from property. We remain in serious trouble.
Sheeps wrote: » There may be a slight dent in demand for homes in this country. The only thing that will really change is the amount of people who ill be in a position to purchase a home will be significantly lower.
Assetbacked wrote: » Yeah, it has happened in name only. It's still an ongoing limbo situation until the Brits grow a pair and take the plunge, have a confirmation referendum (yes or no) or agree the FTA.
landofthetree wrote: » A lot will leave.
landofthetree wrote: » A lot will leave. Other countries like Australia will recover a lot faster. Our high personal tax rates are a huge drag on the economy. Other countries will still be building infrastructure as they have water charges and council taxes to fund it. Stuff off the balance sheet. Plus they aren't as dependent on corpo tax.
Mic 1972 wrote: » it's the same thing. Demand is created by people who are in a position to buy, not by those who wish to but have no money
Reversal wrote: » However in this forum some people think that people wanting to buy is demand, regardless of their ability to do so. Hence why some struggle to understand why demand will drop in the next while. "The value of my recently purchased new build could never go down because people still need somewhere to live"
IndieRoar111 wrote: » Strange turn of events this evening. I originally posted our situation in here and am grateful for the responses, long story short, we pulled out of a deal on a house that was 360k asking but we went sale agreed for 345k. Within the past hour we received an email from the estate agent informing us that the vendor would now accept 340k. To me this seems very strange as we have been on the lookout for the past few months and normally find it hard to receive a response from a estate agent and now one emails us on a Sunday night. We won't be going for the property at that price and are happy with our decision to pull out of the deal.
LuckyLloyd wrote: » Offer 290k
beggars_bush wrote: » Some people are going to be saving like mad for the next 6 months - 12 months - No social spending, no extra shopping Could be a lot more people in a position to buy
Mic 1972 wrote: » The same people could have done that all along if they really wanted to buy a house instead of complaining about banks not lending more money Sorry, not being smart at you, but i can't stand the attitude of wanting to buy something and making zero effort to save money for it
landofthetree wrote: » https://mobile.twitter.com/spectatorindex/status/1241835731456110593 JUST IN: President of the Federal Reserve Bank of St. Louis says US unemployment in the second quarter of 2020 may reach 30%. Gulp.
Mic 1972 wrote: » yep
awec wrote: » Who thinks this? If house prices drop, it's because demand drops. That's just how it works, I don't think anyone is under any illusions otherwise. Certainly haven't seen any notion to the contrary in this forum. If house prices are significantly cheaper 12 months from now it'll be because significantly less people will be in a position to buy a house 12 months from now. We know almost certainly that supply is not going to increase. If anything supply is going to fall if the arse falls out of things. In order for there to be a price drop, demand is going to have to fall more than supply. That means, in the scenario of a market collapse, there are LOTS of people who are in a position to buy right now who are going to suddenly find themselves unable to buy. If the arse falls out of it
Pheonix10 wrote: » To be fair, if the property has any demand at all...the seller will laugh and sell it to someone else for 340k or 320k. Most properties that have any demand, you can't just offer 100k less as there will be an underbidder ready to go.
LuckyLloyd wrote: » There will be no underbidders right now. I'd offer 70 - 80% of value if you were already sale agreed and if the seller is denying reality leave them to it and hold onto your cash.
JamesMason wrote: » ... Not if or when. It has happened.
sun0shine wrote: » I am in process of buying a new build house in commuter town ~360K range, loan offer in place but haven't signed contracts yet. Certainly market is going to tumble.. Bargain on new build an option in this stage? or time to pull out?
garhjw wrote: » I wouldn’t take the advice of anyone who posts in here. Some serious whackos....
garhjw wrote: » nothing has happened yet. You haven’t got a clue what you’re talking about like the majority of people posting in this thread. Nobody knows what will happen over next 12 months.
theballz wrote: » Nothing has happened? Have you looked out the window the last month?
