You've either got to be incredibly rich or incredibly stupid to buy a house in the current climate......

Discuss........

In reply to Post #1
If you're upsizing then I'd thought this was a great time to pick up a bargain.
Yes you'll get less for your present house then expected but your new more expensive one will be cheaper.
Also cheaper for 1st time buyers?

Just try to judge if the market is at it's lowest

When did this happen?? I haven't heard of any crash?

No crash round my way!!!

Not heard of a crash but I'm presuming there will be a dip at minimum. Great time for 1st time buyers for sure. But it's all relative. If you're house isn't worth as much or even negative equity then you probably won't sell unless it's absolutely necessary. Less houses on the market and then guess what happens to the price on new builds? Doesn't drop.

In reply to Post #5
Not round where I live. Prices probably start to go up soon, once more people start viewing & buying. People always need some where to live us up size or down size.

No crash around here. A great time to buy if you can.

Give it 6 months and we're gonna see a crash that no-one's seen the likes of before.

Be prepared.........

In reply to Post #8
I understand what you're getting at now Paul

Why do you think it's going to take 6 months?

My advice to anyone of thinking to buy a house now , DON'T ,wait six months ,when the furlough scheme ends there will be over 1 million to add to the unemployment figure maybe up to 3 million , a lot of people are going to loose their houses , sit tight for the moment !

In reply to Post #10
crikey spanker - that's a bit mercenary!

unfortunately I think both you and the OP are true. We're about to go into one hell of a recession and a lot of people on furlough are sadly on borrowed time.

I wonder which of his houses Boris will have to sell?

In reply to Post #9
- 1-2 million extra unemployed.

- Mass bankruptcies.

- No room to move on interest rates as occurred during the last financial crisis.

- Absolutely no chance of more quantitative easing.

- Rising VAT, income tax etc. to pay back the recent helicopter cash giveaway.

- End of furlough.

- Brexit.


Depending on your viewpoint, it's a perfect storm.

I've always fancied myself as a property developer maybe I'll wait 6 months and buy a couple up north rather than buy a new car

In reply to Post #11

I can envisage Boris's Russian friends expanding their property portfolios shortly .

In reply to Post #13

Burnley is the place , you could buy 2 instead of a new bicycle !