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What happens to property if GBP crashes?

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    What happens to property if GBP crashes?

    If the pound collapses will property crash?

    I would have thought not. It will become cheap for overseas buyers, right?

    Or will people start pulling money out of the UK, companies in the UK will suffer and start laying people off. Those people will lose their houses. Supply will outstrip demand and prices will come down.

    ?

    #2
    Originally posted by aussielong View Post
    If the pound collapses will property crash?

    I would have thought not. It will become cheap for overseas buyers, right?

    Or will people start pulling money out of the UK, companies in the UK will suffer and start laying people off. Those people will lose their houses. Supply will outstrip demand and prices will come down.

    ?
    If the pound crashes the cost of imports such as food and oil will increase so much that everyone will become poor and unable to afford to buy property so the prices will drop.

    This will create an opportunity for overseas buyers to snap up cheap English properties. There will be TV programmes in newly rich countries like India that show Indians travelling to England to look for holiday homes.

    These programmes will be called A Place in the Rain.

    Comment


      #3
      Originally posted by sweetandsour View Post
      If the pound crashes the cost of imports such as food and oil will increase so much that everyone will become poor and unable to afford to buy property so the prices will drop.

      This will create an opportunity for overseas buyers to snap up cheap English properties. There will be TV programmes in newly rich countries like India that show Indians travelling to England to look for holiday homes.

      These programmes will be called A Place in the Rain.
      Come over and lick our chutney spoons they will, just you wait.
      Hang on - there is actually a place called Cheddar?? - cailin maith

      Any forum is a collection of assorted weirdos, cranks and pervs - Board Game Geek

      That will be a simply fab time to catch up for a beer. - Tay

      Have you ever seen somebody lick the chutney spoon in an Indian Restaurant and put it back ? - Cyberghoul

      Comment


        #4
        Originally posted by sweetandsour View Post
        If the pound crashes the cost of imports such as food and oil will increase so much that everyone will become poor and unable to afford to buy property so the prices will drop.

        This will create an opportunity for overseas buyers to snap up cheap English properties. There will be TV programmes in newly rich countries like India that show Indians travelling to England to look for holiday homes.

        These programmes will be called A Place in the Rain.
        ...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...

        Comment


          #5
          Originally posted by aussielong View Post
          If the pound collapses will property crash?

          I would have thought not. It will become cheap for overseas buyers, right?
          Or will people start pulling money out of the UK, companies in the UK will suffer and start laying people off. Those people will lose their houses. Supply will outstrip demand and prices will come down.

          ?
          It's already happening. In the posh parts of London the prices are seeing double digit inflation with the buyers mainly being foreigners.
          How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

          Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
          Xeno points: +5 - Asperger rating: 36 - Paranoid Schizophrenic rating: 44%

          "We hang the petty thieves and appoint the great ones to high office" - Aesop

          Comment


            #6
            Originally posted by HairyArsedBloke View Post
            It's already happening. In the posh parts of London the prices are seeing double digit inflation with the buyers mainly being foreigners.
            Good stuff.

            Anything that raises house prices in London is a very fine thing with me indeed.

            Couple of year bubble would suit me nicely.
            Hang on - there is actually a place called Cheddar?? - cailin maith

            Any forum is a collection of assorted weirdos, cranks and pervs - Board Game Geek

            That will be a simply fab time to catch up for a beer. - Tay

            Have you ever seen somebody lick the chutney spoon in an Indian Restaurant and put it back ? - Cyberghoul

            Comment


              #7
              Property is fecked in this country. Wait till interest rates start increasing.

              People who took out loans at 3% won't know what hit them.
              'Orwell's 1984 was supposed to be a warning, not an instruction manual'. -
              Nick Pickles, director of Big Brother Watch.

              Comment


                #8
                Originally posted by sweetandsour View Post
                If the pound crashes the cost of imports such as food and oil will increase so much that everyone will become poor and unable to afford to buy property so the prices will drop.

                This will create an opportunity for overseas buyers to snap up cheap English properties. There will be TV programmes in newly rich countries like India that show Indians travelling to England to look for holiday homes.

                These programmes will be called A Place in the Rain.
                Pity that Christian Digbie won't be around to advise them

                Comment


                  #9
                  Originally posted by SantaClaus View Post
                  Property is fliped in this country. Wait till interest rates start increasing.

                  People who took out loans at 3% won't know what hit them.
                  It won't happen as lenders have been strict, there are plenty of people who could easily afford a much higher rate being refused.

                  Some would argue this is the way it should be.
                  Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson

                  Comment


                    #10
                    Originally posted by gingerjedi View Post
                    It won't happen as lenders have been strict, there are plenty of people who could easily afford a much higher rate being refused.

                    Some would argue this is the way it should be.
                    Lenders have only been strict again for the last couple of years. There are plenty of people who took out 5 year trackers and dubious self certs in 2007 or earlier.

                    There are also quite a few buy to let landlords who are already struggling to cover the interest only mortages on their portfolio because rents have fallen. A rise in interest rates will push a few of these people into negative cashflow at which point they either have to sit it out for as long as possible or crystallize any capital gain or loss. We haven't really seen the fall out from the buy to let boom yet.
                    While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

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