/biz/ - Business & Finance

70% reduction or I'm not interested and will continue to live with my parents into my 40s.

>>55332661
If I could be bothered i'd sell my place in the SE and stay with my parents for a couple years. I bet by then prices will have calmed. If i bought a place up north after a drop in prices i'd be quids in. I can't be fucked, though, desu

>>55332661
I have over 1 million pounds in liquid assets. I still live with my parents, I am 25.

It's over.

>>55332661
Can I buy a £450k London flat for £250k soon?

Brexit means brexit
enjoy poverty

>>55332661
We're looking at a situation where the high/mid end of the market gets fucked catastrophically, without any corresponding relief for the low end (inc. 'starter homes') and renters. So guys like this are still fucked: >>55332817 (yes, that is the lower end in London).

Why? A variety of factors. Zooming out, we have high-end property buyers (Russians and Chinese) leaving due to a government that has proven itself willing to sanction/confiscate property amidst rising geopolitical tensions. We've also had a general decline in the quality (education/wealth) of immigrants (professionals who go for mid-level housing) along with a corresponding exodus of skilled native British. At the same time, we have a million new arrivals this year who will all go to already overcrowded areas, particularly London, and at *best* might work in a kebab shop, delivering Uber eats, or as a HCA. They are going to continue to swamp low-end/rental, force demand, and hence prop up prices. Most importantly, everyone in the middle class has purchased the most expensive house they could possibly afford (due to seeing it as a guaranteed investment) and will all be needing to downgrade if they cannot cope with their current mortgage- a move from mid-end to low-end.

I don't know how it will play out politically. It looks to be the death of the Tory party- although Labour in it's current form will be unable to resolve. If money is printed to prop up the market, inflation will be unleashed in a manner not seen in the first world since the decade post-WW2, and it is questionable to what extent Britain will remain a market economy. It could honestly be a watershed moment for this country.

>>55333012
>purchased the most expensive house they could possibly afford
Taken out the biggest mortgage they could get their hands on, even

>>55332898
this, brits are retarded

>>55333012
Time to start a development company that turns mid market homes into shitty HMOs then?

>>55332661
Same dynamic in Canada.

>>55332661
What kind of retard country allows adjustable rate residential mortgages to be the norm lol

>>55332675
Good thing there’s no price the UK government isn’t willing to pay to store hordes of Pakis, Himalayan sherpas and 2slgbtqia+-6 Jamaican gangsters

>>55333277
Every country that doesn't have the general population underwrite 30 year mortgages, ie everyone except the USA.
You guys are the socialist cucks, bailing out landlords and bankers.

>>55333277
>to big to fail

>>55332661
Is this like the adjustable mortgages that were part of what crashed the US market in 2008? Why is this legal?

>>55333297
>socialist cucks, bailing out landlords and bankers
Are you still talking about bongled? Because you described every 'developed' nation.

>>55333252
It looks like it, although I'm worried about the circumstances under which that will happen. A Starmer government nationalising massive amounts of property to spin off into HMO bunkhouses for climate refugees is not exactly unthinkable. How well will development companies do under such circumstances, or the redistributive economic policies that will accompany it?

One political factor that sets Britain apart from other Western nations is that the current crisis is happening under what is widely perceived (whatever the reality) as over a decade of Right Wing rule. Compare this to the current US Democrats, or the various Centrist and Centre-Left parties in Europe. A reactive detour into socialism is very possible.

>>55333277
It is arguably good, as it allows fast transmission of interest rate changes into the wider economy. The problem comes from the fact that New Labour and the Tories converted the entire economy into a property ponzi scheme, adding much fuel via Help to Buy, mass immigration, further centralising the entire productive apparatus country around the South East, and various tax policies.

>>55333272
This is like covid all over again
Our retarded talking heads all have the same script
the obvius fear mongering si to make goyim afraid of losing house and proposed solution will be ???
wtf is the plan here

>>55333428
Bail-outs; same as covid, same as SVB, same as energy bills last winter. The current regime will keep on bailing-out until they can't

>>55333428
>proposed solution will be
More immigration, of course

>>55333428
>wtf is the plan here
slums
43% of adults aged 25 in the UK already live like this
https://metro.co.uk/2022/03/29/what-i-rent-assia-and-jack-925-a-month-for-a-houseshare-in-clapton-16351182/

>>55333419
I can't see it beyond maybe those sanctioned Russians (and perhaps Chinese). Starmer and Reeves at least sing the tune that they're not going to do a Truss budget black hole.. maybe a second term labour government swings left if inequality continues to rise.

>>55333277
Because it allows banks and mortgage brokers to skim fees (around £1 - 1.5k) every few years as people refinance

>>55333428
>wtf is the plan here
The more buckbroken normal people are the less threat they pose to the current order.
There are normal people that have a family structure where parents are able to help their children, that money has to be taken away so people lose the last bit of their sovereignty.
Other normal people that have noone that can help them have to be made even more dependent on the state. Higher (in)direct taxation for "the middle" (w/e that even means now) to redistribute it to those under them for their voote, saddling people with loans in order to meet their most basic needs, forcing malcontents back into the labor force, because previous handouts approved to secure their voote is not keeping pace with expenses, and so on.
The general fallout of these policies is irrelevant. For asset owners cash inflation is largely a meme and the rich especially in the UK would rather rule over a trash heap than part with a single penny to fund shared prosperity.
More public handouts to private capital owners, more public debt, more private debt for wagies to shackle them and more private debt for capital to leverage and expand it.

Clearly this challenge requires more browns

>>55333012
Why would anyone buy a low-end starter home if they could get a larger/better place at nearly the same price?

you will NEVER EVER be able to afford a decent house. They won't let you.

>>55333524
>Jack has YuGiOh cards on display
Holy shit

>>55333457
>and when demand increases prices increase
leftists aren't even willing to admit this
in their heads, prices go up when greedy capitalists want them to go up

>>55334173
Higher interest rates act as a multiplier, exacerbating the difference between price points. Understand that most people in this country (anecdotal and backed by the data) buy at the absolute limit of what they can afford. It's not as if everything else is in stasis either- food inflation running rampant, many have financed cars, fuel and energy prices could go on another run up as we head into Q4 2023.

So 'nearly the same price' means nothing.

>>55333524
That’s a fine brown piece of ass he’s tapping though

>tfw you save up enough money for a deposit to buy a house then the interest rates increase while houses are still priced at pandemic highs

>coming to end of fixed mortgage period
>oh no. le interest rate
>remortgage is on increased house value
>problem solved
>buy new cayenne
>complain about how you’re being fucked

>>55333419
>One political factor that sets Britain apart from other Western nations is that the current crisis is happening under what is widely perceived (whatever the reality) as over a decade of Right Wing rule. Compare this to the current US Democrats, or the various Centrist and Centre-Left parties in Europe. A reactive detour into socialism is very possible.
Socialism inevitably degenerates into mass killing and for that reason I'm in favour of this

>>55335555
Not when you're the one being mass killed, gammon

>>55335555

>>55332661
Why would the rates cause a price crash? Do people not realise that these properties are going to be bought up by the usual financiers to become rental properties? What universe are you living in where you think prices are just going to collapse? House prices are only going to keep going up, and home ownership is going to disappear in much of the country.
>>55332898
That's cute except Britain has adopted all of the EU's laws and pledged to be in lockstep on taxes (and just about everything else). It is precisely globalism that is killing the UK (and every other western nation).

>>55333012
where did you learn about this kind of information and is there anywhere I can hear more of what you have to say?

>>55332790
How the fuck. Crypto?

Congratulations and fuck you. I'm 22 and have sub 4k in my bank account.

>>55333524
everyone in london should be shot

>>55334237

One post bot.

>>55336420
nu uh

>>55332661
>mortgage relief
are normies really this stupid

>>55336510
Why?

>>55336513
they cant give relief to stupid people who have too big mortgages, downsize you poorwagie

>>55336558
They would have to print money to do it anyway, which would cause more inflation and necessitate higher interest rates.

>>55335812
Correct.
Brexit was a vote that made no material difference for Britain VS every other Anglo, English speaking country but jews hated that they did it.
That's it.

>>55333286
What a game! We can always go back to our PlayStation's running off a generator in a cave when shtf.