Juddian:
Regardless of whether we get a Brexit or not all the signs are there for a downturn, housing market unless in that weird surreal dump London has peaked, it won’t take much of a downturn to see house prices drop significantly, and our economy appears to be based on rising house prices and importing people to give the impression the economy is growing.
If we weren’t building houses and concreting over our once pleasant land like its going out of fashion, nor turning our motorways into death traps by removing the hard shoulder in order to service this unnatural population growth, we’d already be on a downward spiral…anyone noticed just how many tippers there are on the road?My advice is if you have a good job now, especially if its something to do with staple food or other essential transport of almost permanent requirement, then if i were you i would look after it and keep it.
What Toonsy has done is good common sense, not sure the referral to JRM or Dyson has any merit re this but not getting into any arguments.
Put it this way i wouldn’t be splashing out on the never never on some overpriced too bloody clever for its own good new car, nor maxing me credit cards out on getting ■■■■■■ for 2 weeks in some foreign resort, i’d be doing as he has by being a good boy scout, be prepared dib dib dib.
For house prices to actually fall as “traded prices” - then there would have to be a build-up of people who desire both to sell at lower prices and/or people who HAVE to sell for whatever reason, most likely “can’t afford to pay the mortgage any longer”.
I would therefore relate any downturn in house prices to (1) People losing their jobs (2) People being offered promotions that require them to move house - actually worth going through all that upheaval for. (3) People that have died since the referendum, which Remainers like to tell us are “all Brexiteers”…
Market forces pushing upwards rather than downwards - include (1) Migrants living here who didn’t get kicked out after all (2) Wealthy Foreigners likely to be currently stockpiling savings in Sterling, only to move it into property once Brexit is done (3) Higher wages leading to more mortgage take-up.