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I do bottle opener lengths using the metric system..
Personally, I think house prices have gone insane in the last couple of years and there seem to be a lot of people who think this is ok.
That's where your position falls down.
If you look at the average wage vs the average house price, you'll see it's blindingly obvious that buying a house in the 1960s was essentially free, whereas now you need 2 people on a good wage to club together, just to get your foot into the property market.
Let's not forgot high inflation could be with us for many years which will lead to many people just buying the necessities to survive. This will cause havoc in the real economy and many companies will go to the wall.
So tell me 5plusn8, what happens when people don't have the resources anymore to pay for these overpriced properties, will they pull the money out from thin air?
chewkw and tony_teacake on the same thread. Makes you think.
chewkw and tony_teacake on the same thread. Makes you think.
I don't have multiple properties as investment so nothing to do with me but I am paying a lot just to rent ... LOL!
Let’s not forgot high inflation could be with us for many years which will lead to many people just buying the necessities to survive.
It will be with us for a while. Hopefully not too long but judging from the petrol price and the recent supermarket limiting purchase of basic necessity like cooking oil. It will hit hard for many. The situation is all created by people ...
That’s it, I’m out. Don’t feed the Tunnock!
So tell me 5plusn8, what happens when people don’t have the resources anymore to pay for these overpriced properties, will they pull the money out from thin air?
And to finally get to the crux of this.
What do you suggest ?.
So tell me 5plusn8, what happens when people don’t have the resources anymore to pay for these overpriced properties, will they pull the money out from thin air?
Most probably people will cut their losses and sell it at reduced price ... and the domino effect starts. That's what happened in China's property market ... One minute the property is sold at £200K for a small apartment the next minute no one wants to buy it even at £40k.
But I don't think that will happen in the UK but I am certain some form of impact will come from the current petrol price increase and cooking oil limitation.
However, you can substitute that with palm oil because we have plenty in SE Asia but more forest will be cut down to produce it. The choice is climate change or trying to survive in an inflated economy ...
A friend told me he paid 20% mortgage interest in the 80s! He just told me the rate people are paying now is nothing. He doesn't care.
Wouldn't worry, Putin is going to sort it out once and for all....
Well as has happened over the last 20 years, we get a mix of some wage inflation, lower interest rates, changing of the rules to make it easier to get mortgages (2004 = 5 or more income ratio) etc. So affordability remains. The bankers will ensure this. As I said, the worst is flatline or small decrease (ie 2007).
Don't get me wrong, I think its all mad, but the govt and bankers are all in this and I am sure there will not be a huge crash as TT expects.
Stuck in a house with Panorama-worthy Neighbours From Hell due to negative equity in the late 80s & early 90s, we took in lodgers as we desperately needed to make up the shortfall to get out. We went away for the weekend and I never did find out QUITE what they did but every crevice in the bloody kitchen seemed to have crumbs of Spam in...
I am not an AI but would be interested to know what Mr teacake is running!
The most mysterious thing about this thread is someone mentioned that there is a bike forum.
It's it time for this yet?
I am not an AI
Or so you think.
Tony Teacake is also posting the same stuff on here:
https://www.avforums.com/threads/are-we-heading-for-the-biggest-housing-crash-in-history.2410179/
They're all going nuts for it....
Will it still call itself TonyTeacake if it becomes self-aware?
Alternative fact:T-800 is short for Tea Cake-800
Tony Teacake is also posting the same stuff on here:
https://www.avforums.com/threads/are-we-heading-for-the-biggest-housing-crash-in-history.2410179/
They’re all going nuts for it….
Hey! How come those guys have cool pictures next to their usernames and we don't?
Talk about rip-off Britain!
^ I'm now suspicious of some of our usual posters who are continuing to argue / engage with the thread.
Are the bots living among us?
нет, не я
Unfortunately, I don’t have a bike.
You’ve come to the right place.