Getting rich sitting at home

[DimPrawn]

House prices 'unexpectedly' rose in April - and are above GBP220,000 | This is Money

Shock surge in house prices for lockdown April as average home rises 3.7% - the UK's fastest pace of growth since February 2017

Me 'ouse is me pension 'innit?

[BlasterBates]

So much for the theory of the UK economy being in melt down.

[sasguru]

House prices 'unexpectedly' rose in April - and are above GBP220,000 | This is Money



Me 'ouse is me pension 'innit?

We do live in the EUSSR, innit.

[jamesbrown]

These measures are going to be worthless for the foreseeable future. They're either pre-CV (80% in this case) or post-CV on close to zero transactions.

You don't have an economic crash without a housing crash, esp. in the UK.

[BlasterBates]

These measures are going to be worthless for the foreseeable future. They're either pre-CV (80% in this case) or post-CV on close to zero transactions.

You don't have an economic crash without a housing crash, esp. in the UK.

That's because normally interest rates are jacked up when the recession occurs.

[rootsnall]

These measures are going to be worthless for the foreseeable future. They're either pre-CV (80% in this case) or post-CV on close to zero transactions.

You don't have an economic crash without a housing crash, esp. in the UK.

We didn't have a proper one in 2007. With near zero interest rates people can sit it out. But with much higher unemployment this time round who knows. I was praying for one last time, this time not so sure

[jamesbrown]

That's because normally interest rates are jacked up when the recession occurs.

Like 2009?

Mortgage LTVs will decline as the banks de-risk mortgage lending and unemployment will increase dramatically, far beyond the last recession (even with the furlough scheme). Values were stretched coming into this and the London market will follow other, similar, markets around the world. Leveraged BTL is stuffed; rents are already declining and prices follow rents. As for interest rates in the medium-term, it’s difficult to say. The shock is deflationary. The stimulus isn’t.

[rootsnall]

As for interest rates in the medium-term, it’s difficult to say. The shock is deflationary. The stimulus isn’t.

I don't think it'll happen but it's quite possible that the UK will have to raise rates to defend sterling. It wouldn't be pretty if they did. I think we'd all be stuffed if the mountain of credit unwound.

They are definitely pulling mortgages, I missed out on offloading a house by a matter of days, maybe even 2 days :-(

[BlasterBates]

Like 2009?

Mortgage LTVs will decline as the banks de-risk mortgage lending and unemployment will increase dramatically, far beyond the last recession (even with the furlough scheme). Values were stretched coming into this and the London market will follow other, similar, markets around the world. Leveraged BTL is stuffed; rents are already declining and prices follow rents. As for interest rates in the medium-term, it’s difficult to say. The shock is deflationary. The stimulus isn’t.

House owners are not as stretched as they were in 2009:

[rootsnall]

House owners are not as stretched as they were in 2009:

I think you are going to get a lot more repossessions though due to unemployment.